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    1) Who among the following is the new Chairman of Public Accounts Committee? . Ans : (2)
    1. Mural Manohar Joshi 2. K.V. Thomas 3. Venkaia Naidu 4. L.K. Advani 5. PJ Kurien

    Prof. Kuruppassery Varkey Thomas was appointed as Chairman of Public Accounts Committee (PAC) on 20 August 2014. He will be the 94th Chairman of PAC. KV Thomas is the senior Congress Parliamentarian from Ernakulum Constituency, Kerala.

    2)In which of the following country, world’s first Hindu eco-temple was constructed? Ans: (5)
    1. Nepal 2. Bhutan 3. USA 4. France 5. Uk

    Explanation: World’s first Hindu eco-temple named Shree Swaminarayan Mandir was opened in Kingsbury of northwest London, United Kingdom on 19 August 2014. The eco-temple features solar panels on its roof and a rainwater harvesting system.

    3)Tayyip Erdogan is the new President of which of the following country? Ans:(3)

    1. Egypt 2. Sierra 3. Turkey 4. Syria 5. None

    Explanation: : Turkeys Prime Minister Tayyip Erdogan won the country’s first direct presidential election. He won enough votes to avoid a runoff. With 99% of the ballots counted, the premier had secured 52%, far ahead of his nearest opponent Ekmeleddin Ihsanoglu, a diplomat with a low profile in domestic politics who garnered 38% of the vote.

    4) Which of the following is the first bank in India to launch EMI facility on Debit card? Ans: (4)

    1. HDFC Bank 2. SBI 3. HSBC 4. ICICI 5. OBC

    Explanation: Industrial Credit and Investment Corporation of India (ICICI) Bank on 19 August 2014 launched EMI (equated monthly installments) facility on debit cards. With this, ICICI bank became the first bank in India to provide such facility on debit card. This was so far available only for credit cardholders.

    5) Which of the following is the first tourism board in the country, to have a 10 lakh followers in its face book ? Ans:(1)

    1. Kerala Tourism 2. Goa Tourism 3. Punjab Tourism 4. Rajasthan Tourism 5. Gujarat Tourism

    Explanation:Kerala Tourism reached a milestone when the number of its followers on Facebook hit the 10 lakh (one million) mark. Kerala Tourism is the first tourism board in the country to post this achievement. It is well ahead of global boards such as Singapore Tourism (8 lakh followers), Thailand Tourism (6 lakh), and Paris Tourism (3.2 lakh). Launched in 2010, Kerala Tourism’s Facebook page gives information on the latest events and news in the State in areas ranging from art.

    6) Against to which of the following country, India has approached WTO’s dispute settlement body? Ans:(5)

    1. China 2. Pakistan 3. Srilanka 4. UK 5. US

    Explanation: The Government of India filed an appeal at the Dispute Settlement Body (DSB) of the World Trade Organization (WTO) against a panel report in the case of countervailing measures by the US against certain hot-rolled carbon steel products from India.

    7) For which of the following state/Union Territory’s infrastructure projects, Japan has been assisting with Rs 1510 crore? Ans:(2)

    1. Andhra Pradesh 2. Puducherry 3. Tripura 4. Andaman 5. Delhi

    Explanation: Infrastructure development programmes would be implemented in the Union Territory with an assistance of Rs. 1,510 crore from Japan. Rs. 43.14 crore flyover facility would be established linking Kamaraj Salai and Maraimalai Adigal Salai as part of tackling traffic congestion.

    8) Who will head the Expenditure Management Commission? Ans:(4)

    1. Nachiket More 2. Raghuram Rajan 3. Kaushik Basu 4. Bimal Jalan 5. Rangarajan

    Explanation: Prime Minister Narendra Modi approved the constitution of an Expenditure Management Commission (EMC). The Commission is expected to recommend major expenditure reforms that will enable the government to lower its fiscal deficit. Former Reserve Bank Governor Bimal Jalan will head the Commission. Members include former Finance Secretary Sumit Bose and former Reserve Bank Deputy Governor Subir Gokarn .

    9) For how many metro cities, the limit of usage of ATM will be applied from November 1st, 2014 onwards? Ans:(3)

    1. 4 2. 5 3. 6 4. 7 5. 8

    Explanation: : The Reserve Bank of India on 14th august said the number of mandated free transactions for savings bank account holders at other bank ATMs located in six metro centres will be reduced from five to three per month from November 1. The six metro centres -- Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad -- are well-served in terms of payment infrastructure

    10) Kush Kumar is associated with which of the following? Ans:(1)

    1. Squash 2. Billiards 3. Archery 4. Shuttle 5. Tennis

    Explanation: Kush Kumar on 13 August 2014 became the first Indian player to reach the semi-final of World Junior Squash Championship. The championship is being held in Windhoek, Namibia. He achieved this feat when he defeated England's George Parker

    11) Which of the following state has been selected as venue to host Paragliding World Cup 2015? Ans:(5)
    1. Punjab 2. Manipur 3. Asom 4. Tamilnadu 5. Himachal Pradesh

    Explanation: Himachal Pradesh has been selected as venue to host Paragliding World Cup 2015. This will be the first para-gliding World Cup to be hosted in India. The tournament will be organized under the auspices of Para-gliding World Cup Association, France. The tournament will be held in Kangra district of Himachal Pradesh from October 25, 2015.

    12) The New Deputy Speaker of Lok Sabha belongs to which political party? Ans:(3)
    1. BJP 2. Congress 3. AIADMK 4. PMK 5. TDP

    Explanation: AIADMK leader M Thambidurai was on 13th August unanimously elected as the deputy speaker of the Lok Sabha. The motion for his election was moved by home minister Rajnath Singh and seconded by external affairs minister Sushma Swaraj.

    13) Rajni Razdan, is the new Chairman of which of the following constitutional body? Ans:(2)
    1. Finance Commission 2. Union Public Service Commission 3. CAG 4. SC Panel 5. Election Commission

    Explanation: Rajni Razdan has been appointed the next Union Public Service Commission chairman. She is former Indian Administrative Service Officer from Haryana cadre. She has been a member of UPSC since April 19, 2010..

    14) Manjul Bhargava is associated with which of the following subject? Ans:(4)
    1. Psychology 2. Economics 3. Political Science 4. Maths 5. Chemistry

    Explanation: A mathematician of Indian-origin, Manjul Bhargava has won the prestigious Fields Medal, a Canadian-American professor of mathematics at Princeton University, was among four winners of the celebrated award.

    15) Who has been given Global South Award? Ans:(3)
    1. GR Vishwanath 2. SR Santosh 3. Sunil Kumar 4. Raman Gaurav 5. None

    Explanation: The International Political Science Association has honoured Delhi University professor Dr Sunil Kumar with the Global South Award "in recognition of outstanding work on the politics of the developing world".Kumar, an Associate Professor in Political Science Department of Shyam Lal College (evening), has bagged the award for his paper titled "Changing Landscape of Electoral Democracy and Political Demography: A Study of 2014 General Elections in India.

    16) Robin Williams, who passed away in recent times, is associated with? Ans:(2)
    1. Politics 2. Movies 3. Scientific Research 4. Human study 5. None

    Explanation: Robin Williams, the Academy Award-winning actor who imbued his performances with wild inventiveness and a kind of manic energy, died. Williams earned Oscar nomination for his roles in Good Morning, Vietnam; Dead Poets Society ; and The Fisher King . He won an Oscar in 1998 for Good Will Hunting, playing a therapist who works with a troubled prodigy played by Matt Damon.

    17) Which of the following ministry has been criticized by CAG in recent times for in efficient management of its funds? Ans:(1)
    1. Ministry of External Affairs 2.Defence Ministry 3. Finance Ministry 4. Tourism Ministry 5. Home Ministry

    Explanation: The Comptroller and Auditor General (CAG) of India rapped the ministry of external affairs (MEA) for “inefficient” management of its properties across the world, costing the exchequer several crores. Criticising the “Global Estate Management” of the MEA, in its latest report, said, “Properties were purchased or developed without assessing the basic requirement and purpose of their acquisition.

    18) Which of the following is the most favoredNorth Eastern nation in attracting foreign tourists? Ans:(3)
    1. Manipur 2. Asom 3. Sikkim 4. Mizoram 5. Tripura

    Explanation: Sikkim became the most favoured destination for foreign tourists in the North-Eastern (NE) region of India. This was revealed by the data released by the Union Tourism Ministry in the second week of August 2014.

    19) The telecast rights of first ever champion’stennis league was bagged by? Ans:(1)
    1. Sony six 2. Star sports 3. Ten sports 4. Asian sports 5. Neo sports

    Explanation: Sony Six bagged the telecast rights of the first-ever Champions Tennis League (CTL). The inaugural CTL, featuring six city based teams, will be telecasted on Sony Six from 17 – 26 November 2014

    20) Maryam Mirzakhani, became first woman to win fields medal, she belongs to which country? Ans:(2)
    1. France 2. Iran 3. Spain 4. Indonesia 5. None

    Explanation: Maryam Mirzakhani, an Iranian born mathematician, became the first woman to win coveted Fields Medal on 13 August 2014 in Seoul, South Korea. The award recognized her contributions to the field of geometry particularly in studying the symmetry of curved surfaces such as spheres

    21) GAAR, comes into effect from, April 1st…….. onwards? Ans:(2)
    1. 2015 2. 2016 3. 2017 4. 2018 5. None

    Explanation: In Indian law, GAAR is an acronym for General Anti-Avoidance Rules which are framed to minimize tax avoidance, for example by siphoning off profits to tax havens. GAAR could be termed as a general set of rules enacted to limit tax avoidance. It was proposed by the Union Budget 2012-13. GAAR limits avoidance of taxes
    Tax havens are countries which have low tax regimes which provide individuals and business opportunities of tax avoidance or tax evasion. There are roughly 45 tax havens in the world at present. In Indian context, Mauritius is considered to be the most significant tax havens or tax evading route.

    22) The main aim of companies bill is…… Ans:(4)
    1. To benefit industries 2. For the benefit of foreign companies investing in India 3. To resolve disputes among industries 4. Making Corporate Social Responsibility mandatory 5. None

    Explanation: The Companies bill was introduced in Parliament in 2013, after passing it got President nod on 29th August, 2013. The Companies act 2013, replaced Companies act 1956.
    The Act came into force on 12 September 2013 with few changes like earlier private companies maximum number of member was 50 and now it will be 200.a new term of one person company is included in this act that will be a private company and with only 98 provisions of the Act notified.[1][2] On 27 February 2014, the MCA stated that Section 135 of the Act which deals with corporate social responsibility will come into effect from 1 April 2014. On 26 March 2014, the MCA stated that another 183 sections will be notified from 1 April 2014

    23) Which of the following is true, among the recommendations of a committee headed by Nachiket Mor ?
    1. All Indians above 18 years of age should have full service bank accounts
    2. Every Indian should have an electronic payment access point within 15 minutes of walk
    3. Priority sector lending target be raised from 40% to 50%
    4. Priority sector lending target be reduced from 50% to 40% Ans:(4)
    1. Only 1 and 4 are correct 2. Only 2 and 4 are correct 3. Only 1, 2, 4 are correct 4. Only 1, 2, 3 are correct 5. Only 1 and 2 are correct

    Explanation: Nachiket More Committee recommended to raise priority sector lending cap for banks to 50%, from present 40%. It recommended to ensure that all citizens above the age of 18 y ears have full service bank accounts by January 1st, 2016. Committee recommended to establish ATM’s with 15 minute walking distance anywhere in the country

    24) Which of the following is true among the recommendations of Urjit Patel committee which was formed by RBI, to recommend on monetary policy?
    1. The apex bank should adopt the new CPI as the measure of the nominal anchor for policy communication
    2. Monetary policy conduct should be consistent with a sustainable growth trajectory and financial stability
    3. Apex bank should adopt WPI as the measure of the nominal anchor for policy communication Ans:(2)
    1. Only 1 is correct 2. Only 1 and 2 are correct 3. Only 2 and 3 are correct 4. Only 2 and 3 are correct 5. None

    Explanation: The other recommendations are……….since more than 57% of CPI is food and fuel on which direct influence of monetary policy is limited, the RBI will need to demonstrate commitment to the inflation anchor by responding to risks from second round effects and inflation expectations of shocks to food and fuel..

    25) RBI has decided to create …… fund from unclaimed deposits ? Ans:(4)
    1. Calamity 2. Disaster 3. Old age helping 4. education 5. None

    Explanation: The Reserve Bank of India (RBI) recommended that unclaimed bank deposits worth around Rs. 35 billion, be used for education and awareness among depositors. According to a draft on the Depositor Education and Awareness Fund Scheme, deposits in the banking sector that haven’t been claimed for at least 10 years will be transferred towards the scheme.