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    Weekly Bits 30-12-14
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    Julie Bishop visited India on 18th November; she is the External Affairs Minister of which country? Ans : (5)
    1. Peru 2. Canada 3. Chile 4. Spain 5. Mexico

    Explanation: Australia on 18th November announced support for India's membership in the elite Nuclear Suppliers Group (NSG). External Affairs Minister Salman Khurshid held talks with his Australian counterpart Julie Bishop on ways to enhance cooperation in key areas of civil nuclear ties, anti- terrorism, security and defence among other strategic sectors.

    Which of the following organization was established aimed to aid the growth and development of micro, small and medium scale enterprise? Ans : (2)
    1. IDBI 2. SIDBI 3. MDSI 4. NABARD 5. None

    Explanation: Small Industries Development Bank of India is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSME) in India. This was in news because to ease the liquidity pressure faced by micro and small enterprises, the Reserve Bank of India has opened the refinance tap to the Small Industries Development Bank of India. The RBI will provide refinance aggregating to Rs 5,000 crore to SIDBI, which will in turn use the funds for direct as well as onward lending to banks.

    The total amount of subsidy allocated by Government for 2013-14 financial year? Ans : (3)
    1. Rs 45,000 crore 2. Rs 55,000 crore 3. Rs 65,000 crore 4. Rs 70,000 crore
    5. Rs 75,000 crore

    Explanation: The government had allocated Rs 65,000 crore for petroleum subsidies in 2013-14, of which Rs 45,000 crore has already been utilised to pay the oil marketing companies to meet their subsidy requirement of previous financial year. The government is now left with Rs 20,000 crore to meet the subsidy burden, arising out of under-recoveries of OMCs. Rating agency Fitch on 18th November said government may have to shift part of the soaring oil subsidy bill of the current financial year to the next fiscal.

    German Chancellor Merkel has been Chancellor of Germany since? Ans : (4)
    1. 2002 2. 2003 3. 2004 4. 2005 5. 2005

    Explanation: Angela Dorothea Merkel is a German politician and former research scientist who has been the Chancellor of Germany since 2005. The Indira Gandhi Memorial Trust on 19th November announced that German Chancellor Angela Merkel will be honoured with the Indira Gandhi Prize for Peace, Disarmament and Development for 2013 for her exemplary leadership in Europe and the world during the financial crisis and her stewardship of German economic growth. An international jury headed by Prime Minister Manmohan Singh has chosen her

    The cash prize of Indira Gandhi Peace Prize carries? Ans : (1)
    1. Rs 25 lakh 2. Rs 30 lakh 3. Rs 15 lakh 4. Rs 20 lakh
    5. Rs 35 lakh

    Explanation: The Indira Gandhi Prize or the Indira Gandhi Peace Prize or the Indira Gandhi Prize for Peace, Disarmament and Development is the prestigious award accorded annually by India to individuals or organizations in recognition of creative efforts toward promoting international peace, development and a new international economic order; ensuring that scientific discoveries are used for the larger good of humanity, and enlarging the scope of freedom. The prize carries a cash award of 25 lakh Indian rupees and a citation. A written work, in order to be eligible for consideration, should have been published. The panel constituted by the Indira Gandhi Memorial Trust consists of prominent national and international personalities including previous recipients. The recipients are chosen from a pool of national and international nominees

    Name the person, whom US President Barack Obama nominated for the post of Surgeon General? Ans : (3)
    1. Kalyan Gangu 2. Sanju Ram 3. Vivek Murthy 4. Phani Akash 5. None

    Explanation: US President Barack Obama has nominated Indian-American Vivek Murthy for the post of Surgeon General, which a top American lawmaker described as a historic moment for the community across the country

    World toilet day falls on? Ans : (5)
    1. November 16th 2. November 17th 3. November 18th 4. November 19th
    5. November 20th

    Explanation: As World Toilet Day was marked on 20th November; India's sanitation and toilet statistics continue to raise a stink. The World Health Organization and the United Nations Children's Fund estimate that there are more than 620 million people - over 50 per cent of the population - practising open defecation in the country.

    On which day, India's first Women Bank were started? Ans : (4)
    1. November 16th 2. November 17th 3. November 18th 4. November 19th
    5. November 20th

    Explanation: Bharatiya Mahila Bank, the country's first all-women commercial bank, commenced its operations on 19th November with seven branches. Bharatiya Mahila Bank has been set up with an initial paid-up capital of Rs 1,000 crore. Led by Usha Ananthasubramanian, all the eight on the board of directors of the bank are women. The bank aims to increase its branch count to 25 by March 2014

    In SEZ, Z refers to? Ans : (3)
    1. Zero 2. Zodiac 3. Zone 4. Zoom 5. None

    Explanation: A Special Economic zone (SEZ) is a geographical region that is designed to export goods and provide employment. Recently this was in news because Twenty-nine developers of Special Economic Zones (SEZ), including Tata Consultancy Services, Navi Mumbai SEZ and Parsvnath have been given more time by the Government to execute their projects. Global slowdown and fluctuating market conditions were among the top factors cited by the developers for the delay in their projects

    Which of the following organization, on 19th November said that India Economy grows at 3.4% in the current financial year? Ans : (1)
    1. OECD 2. FITCH 3. S & P 4. PMEAC 5. None

    Explanation: The Indian economy is expected to improve marginally in the current financial year with its GDP at market price projected to expand by 3.4 per cent from 3.3 per cent in the previous fiscal, said think tank OECD on 19th November. Paris-based Organisation for Economic Co-operation and Development (OECD), a grouping of mostly developed nations, has pegged India's GDP growth at market price to be 5.1 per cent in 2014-15 period and further rise to 5.7 per cent in 2015-16 fiscal.

    In which year, OECD was founded? Ans : (4)
    1. 1958 2. 1959 3. 1960 4. 1961 5. 1962

    Explanation: The Organisation for Economic Co-operation and Development (OECD) is an international economic organisation of 34 countries founded in 1961 to stimulate economic progress and world trade. It is a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices and co-ordinate domestic and international policies of its members

    On what rate of interest, RBI directed t he public sector banks to provide credit to women self help groups? Ans : (1)
    1. 7% 2. 8% 3. 9% 4. 10% 5. 11%

    Explanation: The Reserve Bank of India (RBI) on 19th November directed the public sector banks (PSBs) to provide credit to women self help groups (SHGs) at a rate of 7% per annum so as to get the benefit of interest subvention scheme under the Swarnajayanti Gram Swarozgar Yojana (SGSY)/Aajeevika scheme.

    In which year, Swarnajayanti Gram Swarozgar Yojana started? Ans : (5)
    1. 1995 2. 1996 3. 1997 4. 1998 5. 1999

    Explanation: Swarnajayanti Gram Swarojgar Yojana (SGSY) is an initiative launched by the Government of India to provide sustainable income to poor people living in rural areas of the country. The scheme was launched on April 1, 1999.

    FIPB nod is necessary for? Ans : (2)
    1. Indian companies which want to invest in foreign countries 2. Foreign Direct Investments 3. Tax claims 4. Insurance companies 5. None

    Explanation: The Foreign Investment Promotion Board (FIPB) has cleared 20 proposals worth Rs 916 crore, including that of Singapore Airlines to form a partnership with Tata Sons to start a full service airline. The board in its meeting on October 24 cleared 20 proposals worth Rs 915.83 crore, the Finance Ministry said in a statement.

    In which of the following nation's elected body a resolution introduced to deny Visa to Gujarat Chief Minister Narendra Modi? Ans : (3)
    1. UK 2. France 3. USA 4. Spain 5. Ukaraine

    Explanation: A bipartisan resolution introduced in the U.S. House of Representatives this week has praised the U.S. government for holding firm to its 2005 decision to deny Gujarat Chief Minister and BJP Prime Ministerial candidate Narendra Modi a visa to enter the U.S. Introduced on 18th November, House Resolution 417 also urged the Government of India to "to publicly oppose the exploitation of religious differences and denounce harassment and violence against religious minorities, especially in the run-up to India's general elections in 2014

    Which of the following country's researchers have claimed invention of world's smallest FM radio transmitter? Ans : (4)
    1. Japan 2. North Korea 3. South Korea 4. USA 5. China

    Explanation: US researchers have used graphene to create the world's smallest FM radio transmitter - a nano-mechanical system that can create FM signals. A team of researchers from Columbia University, led by mechanical engineering Professor James Hone and electrical engineering Professor Kenneth Shepard, took advantage of graphene's special properties - its mechanical strength and electrical conduction - and developed a nano-mechanical system that can create FM signals

    Who among the following is the recipient of the Sakharov Human rights prize? Ans : (2)
    1. Kofi Annan 2. Yousufzai Malala 3. Ban-Ki-moon 4. Lakhdar Brahma 4. None

    Explanation: Pakistani teenage activist Malala Yousafzai received the EU's Sakharov human rights prize at a ceremony in Strasbourg on 20th November. The European Parliament President, Martin Schulz, presented the award to the 16-year-old who was nominated for the Nobel Peace Prize earlier this year. The Sakharov Prize for free speech is awarded by the European Parliament annually in memory of Soviet physicist and dissident Andrei Sakharov

    In which year, Sakharov Prize was established? Ans : (5)
    1. 1984 2. 1985 3. 1986 4. 1987 5. 1988

    Explanation: The Sakharov Prize for Freedom of Thought, named after Soviet scientist and dissident Andrei Sakharov, was established in December 1988 by the European Parliament as a means to honour individuals or organisations who have dedicated their lives to the defence of human rights and freedom of thought. A shortlist of nominees is drawn up by the Foreign Affairs Committee and the Development Committee, with the winner announced in October. As of 2010, the prize is accompanied by a monetary award of ?50,000

    Frederick Sanger, won Nobel prize twice, he passed away in November 19th, in which field he got Nobel Prize? Ans : (2)
    1. Economics 2. Chemistry 3. Physics 4. Literature 5. Medicine

    Explanation: British biochemist Frederick Sanger, who twice won the Nobel Prize in chemistry, has died. Sanger first won the Nobel Prize in 1958 for his work determining the sequence of the amino acids in insulin and showing how they are linked together. In 1980, he won a second Nobel Prize. That related to his development of a technique to sequence human DNA

    On which of the following company, the Union Government has imposed fine for producing less-than targeted natural gas? Ans : (1)
    1. Reliance 2. HPCL 3. BPCL 4. IOCL 5. GAIL

    Explanation: The Government has slapped an additional penalty of $792 million on Reliance Industries for producing less-than-targeted natural gas from its eastern offshore KG-D6 block. A notice disallowing $792 million out of the cost already incurred on the Bay of Bengal fields was sent to RIL on November 14, an Oil Ministry official said. With this, a total of $1.797 billion penalty in the form of cost being disallowed has been levied on RIL for producing less-than-targeted output during the past three years

    Which of the following is related to Bank Account term? Ans : (3)
    1. CDMA 2. HMDA (S) 3. FCNR (B) 4.SLRD (D) 5. None

    Explanation: An account that can be opened with an Indian bank by a Non Resident Indian or a Person of Indian Origin in foreign currency is FCNR (B) account. The letter B in FCNR (B) stands for the word 'Bank'. It is an account that allows the NRI to keep his deposits in foreign currency. Hassles of conversion can be reduced through such types of accounts.

    As of November 20th, 2013 the amount received by RBI through special swap window? Ans : (1)
    1. $ 22.7 billion 2. $ 23.8 billion 3. $ 24.8 billion 4. $ 25.8 billion 5. $ 26.8 billion

    Explanation: The Reserve Bank of India (RBI) has received $22.7 billion under the special concessional window to swap fresh foreign currency non-resident (bank), or FCNR (B) deposits and foreign currency borrowings. On September 4, RBI had announced these schemes to boost sentiment in the foreign exchange market and attract dollar flows. Both swap windows are open till November 30. The central bank is yet to specify how much it has collected under each window.

    At present the number of nations in G-77? Ans : (5)
    1. 77 2. 78 3. 79 4. 132 5. 133

    Explanation: The Group of 77 at the United Nations is a loose coalition of developing nations, designed to promote its members' collective economic interests and create an enhanced joint negotiating capacity in the United Nations. There were 77 founding members of the organization, but by November 2013 the organization had since expanded to 133 member countries. Fiji holds the Chairmanship for 2013. G-77 founded in 1964

    Who among the following is the chairman of Competition commission of India? Ans : (3)
    1. Arun Saha 2. Sanju singh 3. Ashok chawla 4. Vindhu syar 5. None

    Explanation: India and the European Union have inked an agreement to facilitate development and non-discriminatory enforcement of competition laws. The MoU was signed by Ashok Chawla, Chairman of Competition Commission of India, and Joaquin Almunia, Vice-President for Competition, European Union, on the sidelines of the ongoing BRICS International Competition Conference.

    Competition Commission of India was established on 14th October ? Ans : (4)
    1. 2000 2. 2001 3. 2002 4. 2003 5. 2004

    Explanation: Competition Commission of India is a body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India. It was established on 14 October 2003. It became fully functional in May 2009