Current Affairs - 17 September 2014

J&K separatists disrupt flood rescue and relief operations by Army, Congress

• 

  SRINAGAR: Jammu & Kashmir Liberation Front leader Yasin Malik on Tuesday interrupted a rescue and relief team of Congress leaders from Maharashtra near Budshah Chowk when they were trying to rescue some children stranded in a house in the area. 
  
  Malik and his associate, after much argument, took charge of the boat and relief material in it and asked the rescue team to row as per Malik's instructions. The JKLF chief along with Javid Mir and others then distributed the relief material to people stuck in hotels in Lal Chowk and Budshah chowk. This isn't the first time in the last seven days that separatists have tried to disrupt relief operations. 
  
  In fact, they've raised banners calling for rejecting relief material. In this, Malik isn't alone. For, another banner asking the Indian Army to stop rescue operation was displayed outside Jamia Masjid in down town Srinagar, the bastion of the chairman of supposedly moderate Hurriyat conference Mirwaiz Umar Farooq. 
  
  The banner at the main gate of the grand mosque, where the Mirwaiz delivers the weekly "political" sermons, reads, "Indian Army helped Indian citizens in Kashmir and not Kashmiris; don't need Indian rescue and relief; stop drama of choppers." 

Xi Jinping arrives today, China set to get bigger role in infrastructure and water

• 

  NEW DELHI: India is back in the great game in Asia. PM Narendra Modi's blitzkrieg through three toplevel summits in September — Japan, China and US — is intimately tied to his vision of the India he wants to create. 
  
  After affirming close ties with Japan earlier this month, Modi flies into Ahmedabad on Wednesday for arguably his most important summit. Because it's with China that India will test its strategic opportunities and challenges. 
  
  The government promises a rich menu of agreements during the Xi visit. A sample of what may be in store points to a much bigger Chinese presence in the Indian development story. 
  
  Two industrial parks in Gujarat and Maharashtra to focus on the power sector and auto components financed by Chinese banks, bringing Bank of China into India for the first time. 
  
  If they pass muster, India can invite more Chinese investment as Modi tries to revive the economy and breathe life into a moribund manufacturing sector. The PM understands while India may have some niche capabilities in software and pharmaceuticals, no country has taken off without being a manufacturing power.

Loose screw in engine, flight back

• 

  NEW DELHI: A loose screw in the engine of a Mumbai-bound SpiceJet flight led to a close shave for 175 passengers on Tuesday morning.
  
  The engine of flight SG 451 failed soon after the take-off from IGI Airport, after which the pilot safely brought it back to Delhi on a single engine.
  
  The aircraft (VT-SPG) was later examined by experts from the directorate general of civil aviation (DGCA). "The fuel pump of engine number 1 (which failed) was repaired on Monday night. After completing that work, the engineers did not properly tighten one of the four screws used on the fuel pump. As a result when the aircraft took off for its first flight after that repair on Tuesday morning, pressure did not form inside the engine due to the loose screw and it failed," a senior DGCA official said.
  
  The regulator has withdrawn the authorization power of the aircraft maintenance engineer who certified the repairs on the engine.

Asiad-bound coach, gymnast accused of harassing girl in camp

• 

  NEW DELHI: Scandal rocked Indian gymnastics hours before the team was to leave for the Incheon Asian Games, with a woman gymnast alleging that a coach and an international level player passed obscene comments and made vulgar gestures at her during practice sessions at the Indira Gandhi Sports Complex.
  
  Police said the accused have been identified as Manoj Rana (coach) and Chandan Pathak. The two were scheduled to leave for Incheon on Tuesday night and may be called back by the cops to join investigations, a senior officer cop said.
  
  The gymnast, who is not part of the Asiad squad, alleged that the accused threatened her with dire consequences and that the Gymnastic Federation of India (GFI) tried to suppress her complaint for two weeks. The incident took place on September 2.
  
  The Delhi Police have registered an FIR against the two on Tuesday for outraging a woman's modesty (509 IPC) and criminal intimidation (506 IPC) at the IP Estate police station in central Delhi, addl commissioner of police Alok Kumar said.
  
  GFI president Jaspal Singh and general secretary Kaushik Bidiwala could not be contacted despite repeated attempts.

Woman molested on campus: 35 Jadavpur University students arrested for protesting

• 

  KOLKATA: In the latest development in the Jadavpur University molestation case, 35 students who were part of a protest outside the campus have been arrested by police. The students were demanding a fresh probe into the case where a woman student was dragged into a men's hostel and molested. It is being widely reported that the students were lathicharged by the police and dragged. Moreover, women students who were part of the protest have also filed a molestation complaint against the police.
  
  The gherao of the vice-chancellor and registrar of Jadavpur University by protesting students here was on at midnight on Tuesday even as the varsity's students' body demanded a fresh probe panel to be set up to investigate the matter of the alleged sexual harassment of a girl student on its campus.
  
  The students' union demanded a fresh probe panel and insisted that the gherao would not be lifted until some assurance was given in the matter.

Nasa closer to launching Americans from US soil, picks Boeing and SpaceX to ferry astronauts

• 

  CAPE CANAVERAL, Florida: Nasa is a giant step closer to launching Americans again from US soil.
  
  On Tuesday, the space agency picked Boeing and SpaceX to transport astronauts to the International Space Station in the next few years.
  
  Nasa administrator Charles Bolden named the winners of the competition at Kennedy Space Center, next door to where the launches should occur in a few years. The wall behind him was emblazoned with the words "Launch America" and "Commercial crew transportation/The mission is in sight."
  
  "I want you to look behind me," Bolden said, pointing both thumbs to the big, bright logos. "I'm giddy today, I will admit."
  
  The deal will end Nasa's expensive reliance on Russia to ferry astronauts to and from the space station. Nasa has set a goal of 2017 for the first launch from Cape Canaveral, but stressed it will not sacrifice safety to meet that date.
  
  Nasa ended up going with a blend of old and new space: big traditional Boeing, which helped build the space station and prepped the space shuttles, and smaller, scrappier upstart SpaceX. Just 12 years old, the California-based SpaceX already is delivering supplies to the space station — its crew capsule is a version of its cargo carrier.

GENERAL AWARENESS PRACTICE MCQs FOR SBI P.P. & CLERKS EXAMS

• 1. NRI (Non-Resident Indian) and POI (Person of Indian Origin) can open deposit accounts in India. Which of the following statements is wrong?
  1) Without the permission from the RBI, NRI and POI can open few accounts in India.
  2) Both NRI and POI should open the account only with an authorized dealer in India.
  3) A bank authorized to deal in foreign exchange is called authorized dealer in this context.
  4) To open the account, the state government permission need where the bank head office located.
  5) However Non-Resident Ordinary Rupee Account (NRO Account) can be opened in the post offices in India in the rupees denomination.
• 2. FEMA Act 1999 says 'A person resident outside India means a person who is not resident in India'. FEMA stands for ............
  1) Foreign Exchange Management Act
  2) Foreign Excel Management Act
  3) Foreign Exchange Merchant Act
  4) Foreign Enroll Management Act
  5) None of above
• 3. Non-Resident Ordinary Rupee Account (NRO Account) must be .........
  1) Savings account only
  2) Current account only
  3) Recurring Deposit account only
  4) Fixed Deposit account only
  5) All above type of accounts can be opened in NRO account
• 4. In the Non-Resident Ordinary Rupee Account (NRO Account) ............
  1) American dollars can be deposited only.
  2) Any foreign exchange can be deposited.
  3) Both Indian and foreign exchange can be accepted.
  4) Only Indian rupees accepted.
  5) None of above
• 5. The prior approval of Reserve Bank of India essential for the opening of NRO accounts by individual/ entities of Pakistan and ..........
  1) USA
  2) UK
  3) Nepal
  4) Sri Lanka
  5) Bangladesh
• 6. In the savings deposits accounts of NRO accounts, the rate of interest determined by .........
  1) RBI
  2) Government of India
  3) Indian bank association
  4) Banks
  5) None of above
• 7. Whether joint accounts are allowed in NRO account?
  1) No.
  2) Yes, but both should be Non Resident Indians only.
  3) Yes, the joint account can be held jointly with residents and / or with non-resident Indian also.
  4) Yes, the joint account can be held jointly with residents and / or with non-resident Indian but one of them must have a saving account already in India.
  5) None of above
• 8. The foreign tourist during their short visit to India can open a Non-Resident Ordinary Rupee (NRO) Account?
  1) No.
  2) Yes, the consent of RBI necessary.
  3) Yes, but the consent of President of India necessary.
  4) No, as it is against to BASEL III principles
  5) Yes, but such account can be opened up to a maximum period of 6 months.
• 9. Whether the NRO Account be used for making local payments?
  1) No.
  2) Yes, but he can not spend not more than Rs.50,000 any time paying to any resident.
  3) Yes, but payments to residents exceeding Rs.50,000 can be made only by means of cheques / Demand Drafts etc.
  4) Yes, but payments to residents exceeding Rs.1,00,000 can be made only by means of cheques / Demand Drafts etc.
  5) None of above
• 10. A Non-Resident Ordinary Rupee Account holder can have nomination facility?
  1) Yes
  2) No
  3) Yes, but the account holder must be elder
  4) Yes, but the foreign government consent necessary
  5) None of above
• 11. Non-Resident (External) Rupee Account (NRE Account) must be in the form of which account?
  1) Savings account only
  2) Current account and Recurring Account only
  3) Fixed Deposits only
  4) All of above
  5) None of above
• 12. NRE Account can be opened by the NRI and the account will be maintained ..........
  1) In US Dollars and UK Pounds only
  2) In Indian Rupees and US Dollars only
  3) In any foreign exchange
  4) In Indian Rupees only
  5) None of above
• 13. Details of Non-Resident (External) Rupee Account (NRE Account) given. Locate the wrong option.
  1) Balances held in the NRE account are repatriable.
  2) Accrued interest income and the balances exempt from Income Tax.
  3) Banks are free to determine the interest rates on term deposits of maturity of one year and above.
  4) Loans not at all permitted in this account.
  5) None of above
• 14. Foreign Currency (Non Resident) Account (Bank) [FCNR (B) Account] available to NRIs. Which type of account available for the account holder?
  1) Term Deposit only
  2) Savings deposit only
  3) Joint Account and one of them must be foreigner only
  5) None of above
• 15. Foreign Currency (Non Resident) Account (Bank) familiarly called FCNR (B) Account
  are only in the form of term deposits of .......
  1) 1 to 5 years
  2) 2 to 6 years
  3) 1 to 10 years
  4) 90 days to 365 days
  5) None of above
• 16. Which of the investment facility not available to NRI as per the present rules of RBI?
  1) NRI can purchase any government dated securities / Treasury bills on repatriation basis with out any limit.
  2) He can buy non-convertible debentures of a company incorporated in India.
  3) He can buy Units of domestic mutual funds with out any limit.
  4) He can buy perpetual debt instruments and debt capital instruments issued by banks in India.
  5) All above investment facilities available to NRIs.
• 17. Which private bank has become the biggest employer in the private banking sector having more than 72,000 employees in the FY 2013-14?
  1) TMB
  2) Axis Bank
  3) ICICI
  4) HDFC
  5) Kotak Mahindra Bank
• 18. Which international monetary organization signed a $107-million credit agreement for the
  road linkage of India, Bangladesh and Myanmar on 28 August 2014?
  1) IDA
  2) ODA
  3) IBRD
  4) IFC
  5) ADB
• 19. Banks and Financial Institutions empowered to recover non-performing assets without the intervention of the court by using SARFAESI Act. SARFAESI stands for .......
  1) Securities and Reconstruction of Financial Assets and Enforcement of Security Interest Act
  2) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
  3) Securitisation and Recovery of Financial Assets and Enforcement of Security Interest Act
  4) Securitisation and Reconstruction of Financial Assets and Endorsement of Security Interest Act
  5) None of above
• 20. SARFAESI Act was passed in ........
  1) 1984
  2) 1934
  3) 1969
  4) 2002
  5) 1999
• 21. SARFAESI Act provides three alternative methods for recovery of non-performing assets. They are ............
  1) Securitisation, asset rebuilding and enforcement of security without the intervention of the court
  2) Fee to process loan, asset reconstruction and enforcement of security without the intervention of the court
  3) Securitisation, asset reconstruction and enforcement of security with the intervention of the court
  4) Securitisation, asset reconstruction and enforcement of security without the intervention of the court
  5) None of above
• 22. The SARFAESI Act 2002 applicable only for NPA (Non-Performing Assets) having outstanding ............
  1) Above Rs.10 Lakh only
  2) Above Rs.20 Lakh only
  3) Above Rs.50 Lakh only
  4) Above Rs.30 Lakh only
  5) Above Rs.1 Lakh only
• 23. NPA loan accounts where the amount is less than .............. of the principal and interest are not eligible to be dealt with under the SARFAESI Act 2002.
  1) 30%
  2) 25%
  3) 40%
  4) 20%
  5) None
• 24. Under the SARFAESI Act 2002, NPAs should be backed by securities charged to the bank by way of ..........
  1) Mortgage only
  2) Hypothecation only
  3) Assignment
  4) All of above
  5) None of above
• 25. As per the SARFAESI Act, if the borrower / guarantor aggrieved by the action of the Bank can file an appeal with DRT. DRT stands for ...............
  1) Debt Recovery Tribunal
  2) Deal Recovery Tribunal
  3) Doubt Recovery Tribunal
  4) Debt Recovery Tutorial
  5) None
• ANSWERS:
  
  1-4, 2-1, 3-5, 4-4, 5-5, 6-4, 7-3, 8-5, 9-3, 10-1
  11-4, 12-4, 13-4, 14-1, 15-1, 16-5, 17-3, 18-3, 19-2, 20-4, 21-4, 22-5, 23-4, 24-4, 25-1.