GK UPDATE: SEPTEMBER PART-I

1. ______ has been named Junior Men’s Player of the Year by Asian Hockey Federation. A. Manpreet Singh B. Jaspreet Singh C. Dilip Mangeshkar D. Kuldeep Wadhwa

Ans. A

BACKGROUND:

Hockey Player Manpreet Singh on 31 August 2014 named Junior Men’s Player of the Year by Asian Hockey Federation.The announcement was made at Asian Hockey Federation in the Congress held at Kuala Lumpur, Malaysia.Indian midfielder Manptreet Singh has played 103 international matches and captained junior men’s team in the Hero FIH Hockey Junior Men’s World Cup 2013, and the 3rd Sultan of Johor Cup in 2013 in Johor Bahru, Malaysia. Manpreet Singh belonged to Jalandhar. He made his international debut in 2011. He is in the current national squad and also the captain of India Junior Hockey Team. At present, Manpreet is a part of senior men’s core probable team for the 2014 Asian Games.

About Manpreet Singh

Manpreet Singh is a field hockey player for India National Team. Manpreet Singh is the only player to be listed in the Azlan Shah XI team. He was a part of the Silver medal winning Indian team at the XX Commonwealth Games 2014 in Scotland. He has represented India at the FIH Men’s World Cup 2014 (Netherlands), Hero FIH Hockey World League Final 2014 (India), FIH Hockey World League Semi-final 2013 (Netherlands), FIH Hockey World League Round 2, 2013 (India), Men’s Asia Cup 2013 (Malaysia), FIH Champions Trophy 2012 (Australia), Asian Champions Trophy 2012 (Qatar), Olympic Games 2012 (London) and FIH Champions Challenge 2011 (South Africa).

2. RBI has recently cut the minimum maturity for Tier 2 capital that banks can issue to _____.

Ans. Five years

BACKGROUND:

The Reserve Bank of India (RBI) on 1 September 2014 issued guidelines on implementation of Basel III Capital Regulations. The issued guidelines are to facilitate raising of non-equity regulatory capital instruments by banks under Basel III framework. The guidelines are applicable with immediate effect from 1 September 2014.

Guidelines

• Banks can issue the instruments with the principal loss absorption through either (i) conversion into common shares or (ii) write-down mechanism (temporary or permanent) which allocates losses to the instruments.
• Banks should ensure that the non-common equity capital instruments issued by them meet all the eligibility criteria such as legal, accounting and operational etc., in order for such instruments to be recognised as regulatory capital instruments.
• The Call option on Additional Tier 1 instrument Non-Cumulative Preference Shares (PNCPS) and Perpetual Debt Instruments (PDI) will be permissible at the initiative of the issuer after the instrument has run for at least five years. At present, the Call option on the PNCPS and PDI respectively is permissible only after the instrument has run for at least ten years.
• Banks can issue Tier 2 capital instruments that are Redeemable Non-Cumulative Preference Shares (RNCPS) and Redeemable Cumulative Preference Shares (RCPS) with a minimum original maturity of at least five years compared to ten years at present.
• Banks can issue Tier 2 debt capital instruments (Perpetual Cumulative Preference Shares / Redeemable Non Cumulative Preference Shares / Redeemable Cumulative Preference Shares) to retail investors, subject to the board approval.

3. In which country has Prime Minister Tom Thabane been deposed in a coup? A. Tanzania B. Lesotho C. Uganda D. Ghana

Ans. B

BACKGROUND:

Lesotho Prime Minister Tom Thabane was deposed on 30 August 2014 by the military coup led by army commander Lieutenant-General Tlali Kamoli.The chief reason behind the coup seems to be the decision of Thabane to suspend parliament in June 2014 to prevent it from passing a motion of no confidence against him which could have brought down his government. It is widely believed that Lesotho Deputy Prime Minister Mothetjoa Metsing was behind the coup. In a further development on 31 August 2014 Thabane was escorted by the South African security forces from his hideout in Ladybrand to attend a Southern African Development Community (SADC) meeting chaired by South African President Jacob Zuma in Pretoria on a trial of resolving the crisis in Lesotho country. Zuma authorised South African Special Forces to provide Thabane with security when or if he returned to Lesotho and also issued a stern warning to Kamoli that it would not tolerate any further disturbances.

About Lesotho

The Kingdom of Lesotho is land locked by South Africa and is made up mostly of highlands where many of the villages can be reached only on horseback, by foot or light aircraft.  South Africa is the Country on which Lesotho is depended for employment and trade of its main natural resource – water.UN described 40% of the Lesotho population as ultra-poor. Because of its high rate in Aids the food output was drastically reduced as the farmers are the most victims of the disease.

4. Three new judges have assumed charge in Supreme Court. What is the maximum sanctioned strength of judges in Supreme Court (including the Chief Justice)?A. 27 B. 29 C. 31 D. 33

Ans. C

5. India has become the 19^th permanent member of International Renewable Energy Agency (IRENA). The agency is headquartered in A. Doha B. Manila C. Kuala Lumpur D. Abu Dhabi

Ans. D

6. Which High Court has banned animal sacrifice? A. Himachal Pradesh B. Haryana C. Uttar Pradesh D. Karnataka

Ans. A

BACKGROUND:

Himachal Pradesh High Court on 1 September 2014 banned animals sacrifice in religious places in Himachal Pradesh. The high court bench comprised of Justice Rajeev Sharma and Justice Sureshwar Thakur ordered that no person will sacrifice  any animal in any place of worship. It includes adjoining lands and buildings. The court has directed all senior government and police officials to impose the ban after a petition was filed by animal rights activists, Rajeshwar Negi raising concern about animal sacrifice in many places ranging from big temples to small village temples. The Court ordered animals sacrifice cannot permitted since the sacrifice causes immense pain and suffering to innocent animals and found that thousands of animals are sacrificed every year in the name of worship.

8. The President has released a set of eight commemorative postage stamps on_____.

Ans. Indian Musicians

BACKGROUND:

The President of India, Pranab Mukherjee on 3 September 2014 released a set of eight Commemorative Postage Stamps on Indian Musicians. The postage stamps were released at a function held at Rashtrapati Bhavan. The set of stamps has been brought out by the Department of Posts and it features luminaries in the field of classical Indian music and they are:

• Pandit Ravi Shankar – was the best-known exponents of the Sitar of the 20th century and was also a composer of Hindustani classical music
• Pandit Bhimsen Joshi – was an Indian vocalist in the Hindustani classical tradition and is known for the khayal form of singing. He was also popular for renditions of devotional music (bhajans and abhangs)
• D.K. Pattammal – was a prominent Carnatic musician and a playback singer for film songs in many Indian languages
• Pandit Mallikarjun Mansur – was an Indian classical singer of the khyal style in the Jaipur-Atrauli gharana of Hindustani classical music
• Gangubai Hangal – was an Indian singer of the khyal genre of Hindustani classical music and was from to the Kirana gharana. She was known for her deep and powerful voice
• Pandit Kumar Gandharva – was a Hindustani classical singer and was well known for his unique vocal style and his refusal to be bound by the tradition of any gharana
• Ustad Vilayat Khan – was one of India’s well known sitar maestros and was one of the great pioneers of his generation to introduce Indian Classical Music to the West, along with Ravi Shankar, Ali Akbar Khan, Nikhil Banerjee and his younger brother Imrat Khan
• Ustad Ali Akbar Khan – was a Hindustani classical musician of the Maihar gharana, known for his virtuosity in playing the Sarod. He was instrumental in popularising Indian classical music in the West, both as a performer (often in conjunction with Sitar maestro Ravi Shankar) and as a teacher

8. Name the new terrorist outfit which has been created by Al-Qaeda. A. Rayat Al Tawheet B. Qaedat al-Jihad C. Islam Ul Mubarak D. Lashkar e Islam

Ans. B

BACKGROUND:

Al-Qaeda chief Ayman al-Zawahiri on 3 September 2014 announced creation of a new branch of the terrorist outfit named Qaedat al-Jihad. The new outfit has been formed to carry out militancy to spread Islamic rule and to raise the flag of jihad in South Asia. The new branch Qaedat al-Jihad will take the fight to India, Myanmar and Bangladesh. With the creation of this terrorist outfit Zawahari renewed the pledge of loyalty to Afghan Taliban leader Mullah Omar. Zawahri described creation of the Al Qaeda wing in the Indian Subcontinent as good news for Muslims in Burma, Bangladesh, Assam, Gujarat, Ahmedabad, and Kashmir and termed that the new wing would rescue Muslims there from injustice and oppression.

Reason behind the creation of the outfit Qaedat al-Jihad

Reason for creation of Qaedat al-Jihad militant outfit is a move to snub ISIS militant outfit that has created problems in Iraq and Syria in past few months. It is seen as challenging Al-Qaeda to lead Islamist militancy worldwide.

About Al-Qaeda

Al-Qaeda is a global militant Islamist and Wahhabist organization founded by Osama bin Laden, Abdullah Azzam, and several other militants, at some point between August 1988 and late 1989, with origins traceable to the Soviet war in Afghanistan.Al-Qaeda as a terrorist outfit is active in Afghanistan and Pakistan. These are the two countries where the surviving leadership is thought to be hiding out.

9. As per the recent TRAI notification, the minimum broadband speed has been raised from 256 kbps to____. A. 512 kbps B. 768 kbps C. 1024 kbps D. 1280 kbps

Ans. A

10. RBI has recently asked banks to set a timeline for _____.

Ans. Loan disbursal

BACKGROUND:

The Reserve Bank of India (RBI) on 1 September 2014 asked banks to set a timeline to process loans. The direction was issued to expedite credit decision. However, RBI didn’t set any particular time frame for it.Apart from this, RBI also asked banks to make suitable disclosures about time lines by conveying credit decisions through their websites and notice boards. In its notification, the central bank said that Banks should clearly delineate the procedure for disposal of loan proposals, with appropriate timelines, and institute a suitable monitoring mechanism for reviewing applications pending beyond the specified period. The decision was made by RBI after it noticed inordinate delays by banks in conveying credit decisions, leading to delays in project implementation.

11. Tessy Thomas and _____ have become first women directors in IIT council. A. V. Ravindranath B. Neelima Singh C. Deepika R Gandhi D. Naini Deshwal

Ans. A

BACKGROUND:

Tessy Thomas and V. Ravindranath on 1 September 2014 became first Women directors in IIT council. The appointment was confirmed by Union HRD Ministry.

About IIT Council

IIT Council is the apex body of 16 IITs. IIT council is headed by HRD minister and consists of three members of Parliament, chairpersons and directors of all IITs, chairperson of UGC, director general of CSIR, chairman and directors of IISc, nominee of HRD ministry and three appointees each of the ministry and AICTE.

About Tessy Thomas

Tessy Thomas is the Project Director for Agni-IV missile in Defence Research and Development Organisation. She is the first woman scientist to head a missile project in India. Tessy Thomas was conferred the Lal Bahadur Shastri National Award for her outstanding contribution for making India self-reliant in the field of missile technology.

About Vijayalakshmi Ravindranath

She was the first to initiate newer areas of research to revitalize the growth of modern neuroscience in India.  She became the first Director of NBRC (National Brain Research Centre). Her research on neuro generative disorders can be used to develop disease-modifying therapies. She became the Member of the Governing Council of International Brain Research Organization and the Asia Pacific Regional Council. She was awarded with Padma Shree award in 2010.

12. What minimum pension has been recently approved by the Govt. under the Employees Pension Scheme 1995 (EPS 95) run by EPFO?A. Rs 1,000 B. Rs 1,500 C. Rs 2,000 D. Rs 2,500

Ans. A

13. Which country has recently unveiled plans to launch world’s first digital currencyissued by a central bank? A. Brazil B. China C. Ecuador D. USA

Ans. C

BACKGROUND:

Ecuador unveiled plans to issue world’s first digital currency. The currency will be issued by Central Bank of Ecuador. The new currency was approved by Ecuador’s National Assembly in July 2014. The electronic money, as yet unnamed, will start circulating in December 2014. The new money will be used alongside the existing currency in Ecuador, the US dollar. Ecuador introduced the US dollar as its currency after a crippling bank crisis in 2000. According to plans, the new digital currency will help 2.8 million Ecuadoreans, 40 per cent of participants in the economy, who cannot afford traditional banking. It will also help poorer Ecuadoreans make and receive payments using mobile phone technology which will be similar to the mobile payments schemes run in African nations by private players. Analysts say the introduction of the electronic currency could be used to increase the money supply and devalue US dollar holdings – a first step towards abandoning the US dollar.

Bitcoin vis-a-vis New Digital Currency

The new digital currency is not like Bitcoin, whose advantage is in its technical underpinnings. That is only a limited amount of Bitcoin can be minted. Without that safeguard, economists have warned, a government could theoretically create as much as it wants, risking inflation. It is believed that the digital currency would not be a crypto-currency like Bitcoin. The amount of the new currency created would depend on demand. Bitcoin (a global digital currency) has faced huge challenges to get people around the world to use it, and that is a worldwide movement with thousands of developers working on it.

14. _____ has been reappointed Prime Minister of Libya.

Ans. Abdullah Thinni

BACKGROUND:

Libyan Government on 1 September 2014 lost its control over state offices in Tripoli to Militants. Tripoli is the capital of Libya. Energy-rich Libya has slipped ever deeper into chaos since veteran dictator Moammar Gadhafi was overthrown and killed in 2011. Gunmen surrounded government offices, threatened ministers with assassination and prevented employees from entering their workplaces.Libya now has two competing parliaments, with each declaring the other illegitimate. The Tobruk-based House of Representatives on 1 September 2014 reappointed Abdullah Thinni as prime minister and asked him to form a new government. Abdullah Thinni was originally named prime minister in March 2014, but that was challenged by the Islamist-dominated General National Congress, the rival parliament that has refused to disband.

15. SC has asked Union Government to clarify its stand on citizenship of_____.

Ans. surrogate children

BACKGROUND:

The Supreme Court of India on 4 September 2014 asked the Union Government to clarify its stand on granting dual citizenship of children who are born in India via an Indian surrogate mother, while the biological mother of children is a foreign national.The Supreme Court bench led by Justice Ranajan Gogoi highlighted that under the Constitution, a child born in India from a surrogate mother is entitled to an Indian citizenship, but what happens when the biological mother is a foreign citizen and the child applies for citizenship of that country. The Bench asked the Government after looking into the larger issue as there is a need of a comprehensive legislation that deals with all situations of a surrogate child that is created by the latest reproductive technology. The bench asked the Government that whether it was open to consider dual citizenship for surrogate children born under such situations. The dual citizenship can give limited entitlements to such children.

Additional Solicitor General (ASG) Tushar Mehta in its reply to the SC informed that a Bill – Assisted Reproductive Technology Regulation Bill – was introduced in the parliament in 2010. He would get instruction on the status of the Bill. After hearing the response of the ASG, the court adjourned the case for hearing after 6 weeks, so that it can to hear the reply from the government. First time the problem of citizenship of a surrogate child was highlighted in the case of twin babies who were born to an Indian surrogate mother and a German father, Jan Balaz in 2008. The twin boys named Balaz Nikolas and Balaz Leonard were conceived in January 2008 by Indian women in Gujarat’s Anand district.

Citizenship as per Constitution of India

Part II, Citizenship of Constitution of India under Article 5 defines Citizenship at the commencement of the Constitution, it says At the commencement of this Constitution, every person who has his domicile in the territory of India and-
(a) Who was born in the territory of India; or
(b) Either of whose parents was born in the territory of India; or
(c) Who has been ordinarily resident in the territory of India for not less than five years immediately preceding such commencement, shall be a citizen of India.

16. _____ will lead Indian Women’s Hockey team in Asian Games 2014. A. Amandeep Kaur B. Ritu Rani C. Revati Khatri D. Lilima Minz

Ans. B

BACKGROUND:

Midfielder Ritu Rani was selected to lead Indian women’s hockey team in Asian Games 2014. It was announced by a panel comprising B P Govinda, Harbinder Singh and Surinder Kaur along with Director High Performance Roelant Oltmans and chief coach Neil Hawgood on 3 September 2014. Ritu Rani also led Indian Women hockey team in the Common Wealth Games 2014 that was held in Glasgow, Scotland from 23 July to 3 August 2014. India stood at fifth place in CWG 2014.

Team for Asian Games 2014

• Goalkeeper: Savita
• Defenders: Deep Grace Ekka, Deepika , Sunita Lakra, Namita Toppo ,Jaspreet Kaur , Sushila Chanu , Monika
• Midfielders: Ritu Rani, Lilima Minz, Amandeep Kaur, Chanchan Devi Thokchom.
• Forwards: Rani, Poonam Rani, Vandana Katariya, Navjot Kaur.
• Capitan: Ritu Rani
• Vice Capitan: Deepika

2014 Incheon Asian Games

2014 Incheon Asian Games is the 17th Asian Games and will be held will be held in Incheon, South Korea from 19 September -4 October 2014. Incheon is the third city in South Korea where Asian Games will be held after Seoul (1986) and Busan (2002). Asian Games is governed by Olympic Council of Asia (OCA).

17. Union Govt. has approved a _____ % hike in Dearness Allowance. A. 8 B. 12 C. 7 D. 11

Ans. C

BACKGROUND:

Union Government on 4 September 2014 approved 7 percent hike in Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners. The notification of DA and DR will be effective from 1 July 2014.This hike is an increase over the existing rate of 100 percent of the Basic Pay or Pension to compensate for price rise. This means that the DA has reached to 107 percent of the Basic Pay and the hike would benefit more than 30 lakh central employees and about 50 lakh pensioners. In the current financial year period of July 2014 till February 2015, the decision will cost to the public exchequer around 12818 crore rupees. DA will be of approximately 7691 crore rupees per annum and that of the DR would be 5127 crore rupees. The decision of hiking the Dearness Allowance was taken at the Cabinet meeting that was chaired by Prime Minister Narendra Modi in New Delhi. The announced increase is in accordance to the accepted formulae based on recommendations of the 6th Central Pay Commission.

18. Japanese PM,_______ has named five women for his new cabinet. A. Shigeru Ishiba B. Fumimaro Konoe C. Shinzo Abe D. Hayato Ikeda

Ans. C

BACKGROUND:

Japanese Prime Minister Shinzo Abe on 3 September 2014 named five women for his new cabinet. These five women make up the quarter of the cabinet that comprises 18 members.As estimated by the Japanese Government, only 11 percent of managerial jobs are occupied by women in Japan. Abe emphasized the need to get more women into the workforce to stop the growing gap in the labour market. He aimed to recruit women for 30 percent of senior business and political positions by 2020The chief figures of the administration remained in their place including Foreign Minister Fumio Kishida, Finance Minister Taro Aso and Chief Cabinet Secretary Yoshihide Suga. One of the female among five was 40 years old Yuko Obuchi who became economy, trade and industry minister. She is the daughter of former premier Keizo Obuchi. She holds the record for being the youngest female cabinet minister Japan has had. Other  female politicians were Midori Matsushima as justice minister and Haruko Arimura as minister in charge of women’s activities. Shinzo Abe is president of the Liberal Democratic Party and was elected prime minister of Japan in December 2012. The present cabinet of Japan is one of the longest-serving collectives since the end of World War II. Since Abe came into power in December 2012, it is the first cabinet reshuffle which is seen as an exercise in strengthening his power base in Liberal Democratic Party and reviving the economic and security agenda of the country.

19. Taslima Nasreen has received _____year(s) visa allowing her to stay in India. A. Two B. One C. Three D. Five

Ans. B

BACKGROUND:

Taslima Nasreen, the controversial writer of Bangladesh in first week of September was given a one-year long visa that allows her to stay in India till August 2015. She has been granted the multiple entry visa (X Visa) Earlier in August 2014, the 51-year-old writer was given a two-month temporary visa after the Union Home Ministry decided to initiate a verification process on her visa application. She met the Union Home Minister Rajnath Singh on 2 August 2014 after she was granted only a two-month visa. Rajnath Singh assured her that he will resolve the issue and thus she has been granted the permission to stay for next one year.She carries an EU Passport and has been living in India since 2004 on the X Visa. Earlier, she needed to renew the X visa in every six months but in 2011 UPA II government issued her X Visa renewable every year.

About Taslima Nasreen

• Taslima Nasreen is a Bangladeshi author who has been living in an exile since 1994 in the wake of death threats by Muslim fundamentalist outfits
• At present, she is a citizen of Sweden and has been continuously allotted Indian passport since 2004
• In last two decades, she has lived in the US, Europe and India
• She was born on 25 August 1962 and became famous owing to her essays and novels with feminist views and criticism of Islam in particular and of religion in general

Some Novels by Taslima Nasreen

• Oporpokkho (The Opponent), 1992
• Shodh, 1992
• Nimontron (Invitation), 1993
• Phera (Return), 1993
• Lajja, 1993
• Bhromor Koio Gia (Tell Him the Secret), 1994
• Forashi Premik (French Lover), 2002
• Shorom (Shame Again), 2009

As a person, several times, she had expressed that she wants to live in India permanently mainly in Kolkata. She was forced to leave Kolkata in 2007, after a section of Muslims did violent street protests against her works.

20. Former Chief Justice of India, P Sathasivam has been appointed as Governor of _____. A. Haryana B. West Bengal C. Rajasthan D. Kerala

Ans. D

BACKGROUND:

Former Chief Justice of India, Palaniswamy Sathasivam was appointed as the new Governor of Kerala on 3 September 2014. His appointment to the office will come into effect from the date, he will assume the charge of his office.  Sathasivam was appointed to the post after President Pranab Mukherjee accepted the resignation of Sheila Dikshit as the Governor of Kerala. With this appointment, 65-year-old Sathasivam became the first Chief Justice of India to be appointed to the post of a Governor of a State, which is lower in warrant of precedence to the CJI. Apart from this, Sathasivam who was the 40th chief justice of India holding office from July 2013 to April 2014 is also the first non political person to be appointed for a gubernatorial post by the new NDA government.Sathasivam’s appointment is the tenth appointment of Governors in different states after the NDA government led by Prime Minister Narendra Modi came into power at the centre.

21. Finance Ministry has constituted H R Khan panel to evaluate unclaimed money invested in_____.

Ans. Public Provident Fund (PPF)

BACKGROUND:

Union Finance Minister Arun Jaitley on 3 September 2014 constituted H R Khan panel to assess the amount of unclaimed deposits in the PPF accounts and Post Office saving schemes. H R Khan is the Deputy Governor of RBI. The members of the Committee would include Secretary, Department of Posts, Joint Secretaries in the Union Ministry of Law and Budget Division of the Finance Ministry, Deputy Managing Director of State Bank of India and Executive Director, Punjab National Bank. The panel will suggest steps for utilisation of unclaimed funds for the benefit of senior citizens. The panel will also suggest the changes required in the legal framework to recover these funds and whether the unclaimed deposit should come to the government or to be kept in a separate account. The panel has been asked to submit its report by 31 December 2014. The panel was constituted in the light of the fact that there is no official estimate to ascertain the unclaimed amounts in PPF and small saving schemes. However, it is believed that the amount could run into hundreds of crores of rupees.Moreover, in the postal department, a post office saving account is declared silent or inoperative when there is no transaction for three years.

Public Provident Fund (PPF)

A PPF is a 15-year investment scheme that attracts tax exemption. The minimum annual investment in PPF is 500 rupees.The Union Budget 2014-2015 announced an increase in the maximum annual investment limit in PPF by 50000 rupees. The maximum annual investment limit is now 1.5 lakh rupees.