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Current Affairs - 28 May 2015

IRDA slaps Rs. 65 lakh fine on India First Life Insurance
    • The Insurance Regulatory and Development Authority of India (IRDAI) has imposed Rs. 65 lakh penalty on India First Life insurance company for a number violations.
    • According to an order issued by IRDAI Chairman T S Vijayan, the life insurer had violated norms related to payment of commissions and reporting of expenses pertaining to corporate agents.
    • The Authority had listed 48 charges on the insurer for a wide range of irregularities and identified some of them as serious in nature. They included wrongful involvement of business development managers on behalf of corporate agents, running sales campaigns for the employees of corporate agents, offering incentives such as foreign trips, gift cards and online redemption points and faulty reporting of expenses and file and use procedures, among others.
    • The company has also been warned against any future violations on many other counts, as per the order.

Union Ministry of Finance constituted Committee on Revisiting & Revitalizing PPP Model
    • Union Ministry of Finance on 26 May 2015 constituted a Committee on Revisiting and Revitalizing the Public Private Partnership (PPP) Model of Infrastructure Development under the Chairmanship of Vijay Kelkar.
    • Vijay Kelkar is a former Finance Secretary and Chairman, National Institute of Public Finance and Policy (NIPFP), New Delhi.
    • The decision is in tune with the announcement made on 28 February 2015 by the Union Finance Minister Arun Jaitley while presenting the 2015-16 budget.

GPS Aided Geo Augmented Navigation (GAGAN) System fully operationalised
    • The Indian Space Research Organization (ISRO) on 25 May 2015 announced the complete operationalisation of the GPS Aided Geo Augmented Navigation (GAGAN).
    • The final operational phase of the system commenced on 19 May 2015 as it began broadcasting APV1 Certified signals.
    • With this, India has become the fourth nation after the US, Europe and Japan to have inter-operable Satellite Based Augmentation System (SBAS). Also, GAGAN is the first SBAS system in the world to serve the equatorial region.
    • Earlier on 30 December 2013, Director General of Civil Aviation (DGCA) gave its nod for GAGAN for enroute operations (RNP 0.1) and subsequently on 21 April 2015 for precision approach services (APV 1).
    • While the GAGAN Payload is already operational through GSAT-8 and GSAT-10 satellites, the third payload will be carried onboard GSAT-15 satellite scheduled for launch in October 2015.

NASSCOM launches cybersecurity task force
    • National Association of Software and Services Companies (NASSCOM) and Data Security Council of India have launched NASSCOM Cyber Security Task Force.
    • According to a statement from the trade body, the task force aims to build India as a global hub for providing cyber security solutions, developing cyber security R&D plan and develop a skilled workforce of cyber security experts.
    • The task force members will include industry leaders across IT, BPM and internet, heads of user organizations like banks and telcos as well as representatives from the government and academia.
    • Rajendra Pawar, Chairman, NIIT will chair this task force. The task force over a 12 week period will identify the key priorities and build the detailed action plan for the sector.
    • NASSCOM says the vision of the task force is to build the cyber security industry in India from the 1% market share to 10% by 2025; a trained base of 1 million certified and skilled cyber security professionals and build 100+ successful security product companies from India.

Anindo Majumdar as CMD of Delhi Finance Corporation
    • Armed with a Delhi High Court order over its jurisdiction, AAP government today appointed senior IAS officer Anindo Majumdar as the CMD of Delhi Finance Corporation, days after he was removed from the post of Principal Secretary of the Services Department.
    • The AAP dispensation also appointed IAS officer Parimal Rai as Principal Secretary of Social Welfare and Women and Child Development Department.
    • Majumdar was removed by Chief Minister Arvind Kejriwal as Principal Secretary of the Services Department on May 16 after he issued a notification appointing senior bureaucrat Shakuntla Gamlin as the acting Chief Secretary following instruction of Lt Governor Najeeb Jung.
    • The Lt Governor, on the same evening, had declared the order to transfer Majumdar "void" but AAP government did not allow him to resume his duties and had appointed Rajendra Kumar as Principal Secretary of the Services Department.

Two Indians posthumously named for UN’s Dag Hammarskjold Medal
    • Two Indians Lance Naik Nand Ram and Raju Joseph on 23 May 2015 were posthumously named for prestigious United Nations (UN) Dag Hammarskjold Medal.
    • Lance Naik Nand Ram served the UN Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO) and Raju Joseph served in a civilian capacity with the UN Mission in South Sudan (UNMISS).
    • They will be awarded on the International Day of United Nations Peacekeepers observed annually on 29 May 2015.
    • India is among the largest contributors of military and police personnel to UN peacekeeping. It currently deploys 8112 military and police personnel to the UN peacekeeping operations in Cote d'Ivoire, Cyprus, the Democratic Republic of the Congo, Haiti, Lebanon, Liberia, the Middle East, Sudan, South Sudan and Western Sahara.

Thiruvananthapuram City Police mobile app safety feature wins award
    • iSafe, the safety feature of the Thiruvananthapuram City Police mobile app, has won the award for ‘best use of mobile technology’ at the Elets Knowledge Exchange Awards 2015, Goa.
    • The award was conferred in the governance category at a ceremony co-hosted by Elets Technomedia and the Information Technology Department, Government of Goa.
    • Mridula Sinha, Governor of Goa, handed over the award to Manoj M Mani, head, PR, marketing and communications- India, UST Global, during the Elets Knowledge Exchange-Goa 2015 Summit.
    • iSafe was recognised for improving overall police governance and public safety by empowering citizens using digital technology, a UST Global spokesman said.
    • Developed UST Global’s mobile app for Thiruvananthapuram City Police, the safety feature enables citizens to maintain direct contact with police personnel during emergencies.

Forbes released the World’s 100 Most Powerful Women 2015 list
    • Forbes on 26 May 2015 released the list of World’s 100 Most Powerful Women of 2015 showing women who impacted businesses, media, philanthropy, politics and more.
    • The world’s most powerful woman in the list is German Chancellor Angela Merkel who fetched the first spot.
    • Hillary Clinton ranked at 2nd position, she has been appearing on this FORBES ranking every year as a senator, secretary of state and influential personality.
    • The most powerful women in politics, philanthropy, business and tech are Angela Merkel, Melinda Gates, Barra and Sandberg.
    • The top ranking billionaire in the list is Oprah Winfrey who stood at 12th spot, having personal net worth of 3 billion US dollars.
    • Four Indians have been named in Forbes list including Arundhati Bhattacharya, Chairperson of State Bank of India (SBI), who stood at 30th position.
    • Chanda Kochhar, MD and CEO of ICICI Bank, was placed at 35th position; Kiran Mazumdar-Shaw, CMD of Biocon Limited, was placed at 85th position and Shobhana Bhartia, Editorial Director of the Hindustan Times Group, was placed at 93rd position.

SBI Associate General Knowledge Practice Paper
  • 1) Which country along with Nepal accepted Indian Rupee as a legal tender?
    1) Pakistan
    2) Myanmar
    3) Srilanka
    4) Bhutan
    5) None of these

    Ans 4
    2) Which financial organization has decided to setup a $ 2 billion swap facility for SAARC member nations?
    1) World Bank
    2) International monetary fund
    3) Asian development Bank
    4) Reserve bank of India   
    5) State Bank of India

    Ans 4
    3) BASEL III norms come into force
    1) Ist April 2013
    2) Ist March 2013
    3) Ist Feb 2013
    4) Ist January 2013
    5) None of these

    Ans 4
    4) Which country will host the 2019 cricket world cup?
    1) New Zealand
    2) Australia
    3) India
    4) South Africa
    5) England

    Ans 5
    5) Recently, RBI has allowed NBFC’s to open their ATM’s called as
    1) White Level ATM’s
    2) Any Time Money ATM’s
    3) All Time Money ATM’s
    4) Instant cash ATM’s
    5) Supply Money ATM’s

    Ans 1
    6) Which Airline has been ranked as the World‘s Best Airline for the second Consecutive year?
    1) Air India
    2) Qatar Airways
    3) Fly Emirates
    4) Lufthansa
    5) None of these

    Ans 2
    7) Who is the director of the Vikram Sarabhai space centre(VSSC) at Present?
    1) S.P Rao
    2) P.S Veeraraghavan
    3) S.D Verma
    4) L.M Raghavan
    5) None of these

    Ans 2
    8) Which is the World’s oldest International financial organization?
    1) International Monetary Fund
    2) World Bank
    3) Bank for International settlements
    4) International Finance Corporation
    5) None of these

    Ans 3
    9) Expand the Term EEFC?
    1) Exchange Earners Floating Currency
    2) Exchange Earners Foreign Currency
    3) Exchange Earners Flexible Currency
    4) External Earners’ Foreign Currency
     5) None of these

    Ans 2
    10) on which date did the Parliament of India celebrated the 60th anniversary of the first sitting of Parliament?
    1) 21st May
    2) 9th May
    3) 26th May
    4) 13th May
    5) None of these

    Ans 4
    11) Which sport category made a debut in the London Olympic 2012?
    1) Women’s Hockey
    2) Women’s football
    3) Women’s Basketball
    4) Women’s Boxing
    5) Men’s Beach Volleyball

    Ans 4
    12) How much money is being given to people under Indira Gandhi National old Age pension Scheme?
    1) Rs 200
    2) Rs 600
    3) Rs 300
    4) Rs 400
    5) Rs 250

    Ans  1

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