Current Affairs January 2015 - Vikalp Education

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Thursday, January 29, 2015

Current Affairs - 29 January 2015

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As India Faces Energy Shortage, Tribal Protests Pose Threat to Fresh Coal Allocations in Chhattisgarh
  • The villages protesting the government’s decision in the district held a Gram Sabha and have successfully passed a resolution against mining in the areas, say the locals.
    The tribals say that due compensation has not been paid for the land previously acquired by the government for mining in the district. Ram Pravesh, a tribal who allegedly gave up 2 acres of his ancestral land told NDTV that he was paid Rs. 1 lakh as compensation, while the land rate at that time was Rs. 6 – 7 lakh per acre.
    “In my village, land has been acquired for coal mining. Half of the villagers have not got the compensation yet. I lost 2 acres of land but got compensation for only 25 decimal. The Gram Sabha called by the collector was not fair. He promised us jobs, houses but it’s been 6 years and in Kete village promises have not been fulfilled,” said the villager who works as a daily wage laborer in the city to earn his livelihood.
    A delegation of seven tribals from the village had earlier met with the Union Environment Minister Prakash Javadekar over the issue in January, but they say that their concerns were not resolved.
    “When we met the Environment Minister, he told me that I am speaking like an activist and asked me to call my son. I told him that by the time he grows up and coal mining starts, we all will be dead and what will he discuss with you? Is development at the cost of destruction? He said for development we will allocate coal mines, I replied then be prepared for a legal battle,” says Jainandan Singh Korte, a tribal, who was a part of the delegation.

Over 20 companies to support Jan Dhan Yojana
  • According to the US Agency for International Development (USAID), the initiative is part of President Barack Obama’s pledge to back India’s initiative to provide its citizens with access to financial services and lay the foundation for a world-leading, inclusive digital economy.
    “With support from the World Economic Forum, these partners, in consultation with the government of India, will join in establishing a public-private partnership to expand the ability of Indian consumers and businesses,” the statement said.
    The initial partners represent six categories of organisations fast moving consumer goods companies, banks, payment networks, mobile network operators, e-commerce, and leading civil society organisations including Axis Bank, Bharti Airtel, Coca-Cola, ITC Limited, MasterCard, SnapDeal among others.
    “USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India,” it said. Under the Jan Dhan initiative, over 110 million new households have received bank accounts, which entitle them to debit cards and other financial tools needed to participate in the formal economy.
    “These efforts have caught the attention of the world and showcase India’s global leadership in building an inclusive economy,” said the statement.

BJP, PDP likely to form govt in Jammu and Kashmir soon: Reports
  • The BJP and PDP have reached a broad understanding to form government in J&K, reports said on Wednesday.
    Reports indicate both the parties are working to evolve a seat sharing formula and are expected to reach a consensus soon.
    Also, J&K BJP legislators are scheduled to meet in Jammu today. Senior party leader Ram Madhav will be a part of the meeting.
    The latest development comes after PDP patron and former chief minister Mufti Mohammed Sayeed last week said “track two” dialogue with BJP is in progress.
    Contending that he wants to bring the state out of a “quagmire”, the former Chief Minister told his party workers, “Track-II dialogue with BJP over the formation of government in Jammu and Kashmir is in progress.”
    If I feel that my shaking hands (with BJP) will benefit the state of Jammu and Kashmir and the country, I am ready to do that,” Sayeed said.

PM Modi explains meaning of ‘Obama’ in Mann Ki Baat
  • “Some people wonder what ‘Obama’ means. In Swahili language, spoken in parts of Africa, Barack means one who is blessed. I believe, along with a name, his family gave him a big gift,” he said.
    When a questioner asked both Obama and Modi whether they had imagined to reach the positions they have reached, US President said like Prime Minister Modi, when he had visited the White House for the first time, he too had also stood near the iron fence.
    “The same is true for me. When I first went to the White House, I stood outside that same fence and looked in and I certainly did not imagine that I would ever be visiting there, much less living there. You know, I think both of us have been blessed with an extraordinary opportunity, coming from relatively humble beginnings.
    “And when I think about what’s best in America and what’s best in India, the notion that a tea seller or somebody who’s born to a single mother like me, could end up leading our countries, is an extraordinary example of the opportunities that exist within our countries,” Obama said.
    Talking in their context, he said making sure that children are healthy and they get equal opportunities irrespective of their background is very important.
    “Because you never know who might be the next Prime Minister of India or who might be the next President of United States…they might just surprise you if you give them the chance,” he said.

Obama Ends Visit With Challenge to India on Climate Change
  • While India and the United States agreed to cooperate in promoting cleaner energy, Mr. Obama left after three days without the sort of specific commitment to curbing greenhouse gases that he won in China last year. Instead, he used a farewell speech before his departure to argue that India had an obligation to step up, despite its economic challenges.
    “I know the argument made by some – that it’s unfair for countries like the United States to ask developing nations and emerging economies like India to reduce your dependence on the same fossil fuels that helped power our growth for more than a century,” Mr. Obama told an audience of 1,500 mostly young Indians at Siri Fort Auditorium on the final day of his trip here.
    “But here’s the truth,” he added. “Even if countries like the United States curb our emissions, if countries that are growing rapidly like India with soaring energy needs don’t also embrace cleaner fuels, then we don’t stand a chance against climate change.”
    The president’s remarks came during a speech with a broader tough-love message, lavishing praise on India and pledging friendship while challenging it to cut back on human rights abuses. He urged India to protect the rights of girls and women, combat human trafficking and slavery, promote religious and racial tolerance, and empower young people.
    “America can be India’s best partner,” he said to applause, and he repeated his support for India to become a permanent member of the United Nations Security Council. “But as I’ve said before, with power comes responsibility.”
    It was a notably pointed speech at the end of a trip dominated by displays of affection. But Mr. Obama had come under pressure from advocacy groups at home not to leave India without delivering a strong appeal for human rights in a country proud of its democracy.


  • 1. A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will:
    a) Note caution and will advice the payee to contact purchaser of the draft
    b) Not act on the request
    c) Stop payment
    d) Performs no action
    e) None of the above
  • 2. Mutual funds are required to be registered with:
    a) AMFI
    b) SEBI
    c) IBA
    d) RBI
    e) NABARD
  • 3. What is Yield Curve Risk?
    a) It is a line of graph plotting the yield of all maturities of a particular instrument
    b) Yield curve changes its slope and shape from time to time
    c) Yield curve can be twisted to the desired direction through the intervention of RBI
    d) All of the above
    e) None of the above
  • 4. The biggest international financial centre in the world:
    a) Frankfurt
    b) Geneva
    c) London
    d) New York
    e) Paris
  • 5. The expansion of BIFR, in the context of the Indian Industry is:
    a) Board for Industrial and Financial Reconstruction
    b) Bureau for Industrial and Financial Reconstruction
    c) Board for Investment and Financial Reconstruction
    d) Bureau for Investment and Financial Reconstruction
    e) None of these
  • 6. The largest financial conglomerate of India is:
    a) HDFC Bank
    b) ICICI Bank
    c) IFCI
    d) SBI
    e) None of these
  • 7. Under which of the following methods of depreciation, amount of depreciation varies every
    a) Written Down Value Method
    b) Straight Line Method
    c) Amount of depreciation does not vary on year to year basis
    d) Either a or b
    e) None of these
  • 8. Usually, the validity period of an Income Tax Refund Order is:
    a) 1 month
    b) 2 months
    c) 3 months
    d) 6 months
    e) 4 months
  • 9. Which of the following is true about "White Card"?
    a) It is related to companies producing milk products
    b) It does not carry on its face, the brand of the issuer
    c) It is meant to covert blank money into the economy
    d) It is a card that provides white money
    e) None of these
  • 10. First bank in India to launch its interactive banking service through Dish TV:
    a) HSBC
    b) ICICI Bank
    c) HDFC Bank
    d) Axis Bank
    e) None of these
  • 11. First Indian Governor of the RBI:
    a) C.D. Deshmukh
    b) Sachindra Ray
    c) S. Mukherjee
    d) D.I.G. Patel
    e) None of the above
  • 12. CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) has been set up on
    the recommendations of:
    a) Narashimham Committee
    b) Ghosh Committee
    c) Chore Committee
    d) Kapoor Committee
    e) Krishna Committee
  • 13. The primary relationship between the banker and the customer is that of:
    a) Trustee and beneficiary
    b) Debtor and Creditor
    c) Principal and agent
    d) Lesser and lessee
    e) None of these
  • 14. A debt becomes time-barred after:
    a) One year
    b) Two and a half year
    c) Three years
    d) Five years
    e) Six years
  • 15. In the matter of handling bills of exchange for collection, the relationship between customer and
    the bank is:
    a) Trustee and the beneficiary
    b) Principal and agent
    c) Bailor and bailee
    d) All of the above
    e) None of the above
  • 16. Hypothecation is:
    a) A transaction of conditional sale
    b) A legal transaction whereby goods may be made available as security for a debt
    c) Transfer of ownership by the borrower to the lender
    d) Either a or b
    e) None of the above
  • 17. Payment of a cheque may be countermanded by the ___
    a) Payee
    b) Drawer
    c) True owner
    d) Drawee
    e) None of these
  • 18. J.S. Verma Committee Report relates to:
    a) Strengthening of weak banks
    b) Corporate Governance
    c) Bank Mechanization
    d) All of the above
    e) None of the above
  • 19. AUsance Bill when presented for acceptance has to be accepted/ dishonoured within:
    a) 24 hours
    b) 36 hours
    c) 48 hours
    d) 60 hours
    e) 26 hours
  • 20. Invoice is a:
    a) Accounting document
    b) Legal document
    c) Commercial document
    d) All of the above
    e) None of the above
  • 21. When does a person become insolvent?
    a) When he left with no property of his own
    b) When he declares an insolvent by the Court
    c) When he terminates from a job he was holding
    d) When he declares himself to be an insolvent
    e) None of the above
  • 22. When two parties make an arrangement to exchange future cash flows, it is called:
    a) Options
     b) Arbitrage
    c) Swap
    d) Futures
    e) None of the above
  • 23. Which of the following banks enjoys the reputation of being at the top in market capitalization among all the private banks?
    a) ICICI Bank
    b) HDFC Bank
    c) Axis Bank
    d) Yes Bank
    e) IDBI Bank
  • 24. "Claused Bill of Landing" is one which indicates:
    a) Remaining constant in project cost
    b) Escalation in Project Cost
    c) Decrease in Project Cost
    d) All of the above
    e) None of the above
  • Answers:
    1) a 2) b 3) d 4) c 5) a 6) d 7) a 8) c 9) b 10) c
    11) a 12) d 13) b 14) c 15) b 16) b 17) b 18) a 19) c 20) c
    21) b 22) c 23) b 24) b

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