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    Weekly Bits 27-1-14
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    The amount approved by Cabinet Committee on Economic Affairs approved as interest-free loans to sugar industry? Ans : (3)
    1. Rs 6, 400 crore 2. Rs 6, 500 crore 3. Rs 6, 600 crore 4. Rs 6, 700 crore
    5. Rs 6, 800 crore

    Explanation: The Cabinet Committee on Economic Affairs (CCEA) approved 6600 crore rupees interest-free loans to cash starved sugar industry on 19 December 2013. The loans will be provided by banks to sugar mills exclusively for making payments to sugarcane farmers, including arrears. The loans are equivalent to the excise duty paid by the mills in the past three years

    With which of the following, Central Bank, RBI has agreed to enhance bilateral currency swap arrangement? Ans : (2)
    1. European Bank 2. Bank of Japan 3. Federal Bank of USA 4. Swiss Bank 5. None

    Explanation: Reserve Bank of India (RBI) and Japan's Central bank, Bank of Japan, decided on 18 December 2013 to enhance the bilateral currency swap arrangement from 15 billion dollars to 50 billion dollars. The agreement would help bring stability in the financial markets in both the countries.

    Which of the following former cricketer has got CK Nayadu Lifetime Achievement award for the year 2013? Ans : (3)
    1. Gavaskar 2. Sachin Tendulkar 3. Kapildev 4. Amarnath 5. Srinath

    Explanation: Kapil Dev, the Former Captain and legendary All-rounder of Indian Cricket Team on 18 December 2013 selected for the BCCI's prestigious Col. CK Nayudu Lifetime Achievement award for the year 2013. Kapil Dev had played 131 Tests for India taking 434 wickets. He was the first player to complete 5000 runs and 400 wickets in Tests.

    Who among the following has been appointed as Secretary of State for Texas? Ans : (1)
    1. Nandita Venkateswaran 2. Nivedita Akash 3. Pavan Mandir 4. Sunder Raghavan 5. None

    Explanation: Hyderabad-born attorney Nandita Venkateswaran Berry has been appointed Secretary of State for Texas, making her the first person of Indian origin to hold the third top executive job in the southern State. Currently, she is a senior counsel with the law firm of Locke Lord LLP, where she practices corporate and securities law.

    M.N. Paloor has won this year Sahitya Akademi Award, to which state he belongs to? Ans : (5)
    1. Tamilnadu 2. Karnataka 3. Maharashtra 4. West Bengal 5. Kerala

    Explanation: Malayalam's modernist poet M.N. Paloor has won this year's Kendra Sahitya Akademi award for his biography 'Kadhayillaathavante Kadha.' Paloor, who currently lives in Kozhikode, was honoured with the Asan Prize for poetry in 2009.

    On 20th December, India has signed a tax information exchange agreement with which nation? Ans : (1)
    1. San Marino 2. Ethiopia 3. Cyprus 4. Ecuador 5. None

    Explanation: India and San Marino have signed a tax information exchange agreement (TIEA) in Rome on 20th December. The agreement was signed on behalf of India by Basant K. Gupta, Ambassador of India to Italy, and Daniela Rotondaro, Ambassador of San Marino to Italy, on behalf of San Marino. Besides exchange of banking and ownership information, this TIEA also provides for exchange of information that is relevant to the administration and enforcement of the domestic tax laws. An objective of TIEA is to promote international cooperation in tax matters through exchange of information. The nature of tax-related information that could be shared under a TIEA varies from agreement to agreement

    Rafael Nadal is associated with which of the following game? Ans : (2)
    1. Shuttle 2. Tennis 3. Cricket 4. Foot ball 5. Hockey

    Explanation: Rafael Nadal is Tennis player. He was named as sports man of the year. Serena Williams of USA has also been named as sp orts woman of the year by French sp orts daily L' Equipe.

    Who is the new Chief Information Commissioner of India? Ans : (4)
    1. Sujata Singh 2. Deepak Sandhu 3. Vani eesh 4. Sushma Singh 5. None

    Explanation: The President Pranab Mukherjee on 19th December administered the oath of office to former IAS officer Sushma Singh as Chief Information Commissioner at the Rashtrapati Bhawan. Ms. Singh, who is the fifth Chief Information Commissioner of CIC, is the second woman to be appointed to the post after Deepak Sandhu, whose term ended.

    In which year, Central Information Commission was established? Ans : (3)
    1. 20032. 2004 3. 2005 4. 2006 5. 2007

    Explanation: The Central Information Commission (CIC) set up under the Right to Information Act is the authorised body, established in 2005, under the Government of India to act upon complaints from those individuals who have not been able to submit information requests to a Central Public Information Officer or State Public Information Officer

    The Cabinet approved a Free Trade Agreement in Trade and Services with which international group on 19th December? Ans : (1)
    1. ASEAN 2. EU 3. BRICS 4. SAARC 5. ANU

    Explanation: The Cabinet on 19th December aproved a free trade agreement (FTA) in trade and services with the Association of Southeast Asian Nations (Asean). The proposal was approved after a discussion between Finance Minister P. Chidambaram and Commerce and Industry Minister Anand Sharma

    The United Nations has lowered India's Economic Growth forecast for 2013 to....? Ans : (1)
    1. 4.8% 2. 3.8% 3. 4% 4. 5.8% 5. 6%

    Explanation: United Nations has lowered India's economic growth forecast for 2013 to 4.8% while warning that emerging markets should be prepared to deal with the impact of US Federal Reserve's quantitative easing programme. India's economy is forecast to grow at 4.8% in 2013, down 1.3% from its earlier projection, the UN's World Economic Situation and Prospects 2014 report said

    After how many attempts, Parliament of India passed Lokpal Bill? Ans : (3)
    1. 6 2. 7 3. 8 4. 9 5. 10

    Explanation: Parliament of India passed the Lok pal bill on 18th December. It was passed after eight attempts — the first was in 1968 , the passage of the bill paved the way for the setting up of anti-corruption watchdogs at the Centre and State level. The Lokpal and Lokayukta Bill, 2013, passed by the Lok Sabha in December 2011, underwent some amendments before being approved by the Rajya Sabha. The amended Bill, which brings the Prime Minister within its ambit, was passed by a voice vote in the Lok Sabha after Samajwadi Party and Shiv Sena members staged a walkout in protest.

    The new bill mandates to set up Lokayuktas with in.............. days ? Ans : (1)
    1. 365 days 2. 200 days 3. 150 days 4. 100 days 5. 75 days

    Explanation: The new Lokpal bill mandates states to set up Lokayuktas within 365 days. States have the freedom to determine the nature and type of Lokayukta. The old bill said the law shall be applicable to states only if they give consent to its application. The old bill gave power to the central government to appoint state Lokayuktas while the new draft gives this power to the states.

    Who among the following headed standing committee on petroleum and Natural gas that sought a review of the Rangarajan formula for gas pricing? Ans : (1)
    1. Vundavalli Arun Kumar 2. YC Chako 3. Yashwanth Sinha 4. Murali Deora 5. Jaipal Reddy

    Explanation: The Standing Committee on Petroleum and Natural Gas has sought a review of the Rangarajan formula for gas pricing, saying that the price should be fixed after factoring in the domestic cost of production. The committee, in a report tabled in Parliament, said the proposed formula is a simple average of two methodologies— price of imports of LNG into India by different suppliers and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point (NBP) in London and netback import price at the well head of suppliers into Japan

    Elizabeth Susan Koshy is associated with which sport? Ans : (3)
    1. Tennis 2. Chess 3. Shooting 4. Billiards 5. None

    Explanation: Elizabeth Susan Koshy is shooting player. She was in news because she won the women's rifle 3-position gold in the 57th National shooting championship at the Dr. Karni Singh Range, Tughlakabad, on 18th December.

    Who is the new Chairman and Managing Director of the Power Finance Corporation Ltd? Ans : (2)
    1. S.R.Pandey 2. M.K.Goel 3. S.R. Malya 4. Chaturvedi 5. Pallavasimham

    Explanation: The Government has appointed M.K. Goel, who is also the Director (Commercial), as the Chairman and Managing Director of Power Finance Corporation Ltd (PFC). This is after the Prime Minister Manmohan Singh headed Appointments Committee of the Cabinet did not give its go-ahead for extension of the tenure of Satnam Singh, whose term got over on July 31

    Who among the following has been conferred Lifetime Achievement Award by Indian chamber of Commerce? Ans : (4)
    1. Rahul Bajaj 2. Sunil Mittal 3. Anil Ambani 4. Brij Mohan Khaitan 5. None

    Explanation: Indian Chamber of Commerce on 17th December conferred Lifetime Achievement Award to Brij Mohan Khaitan, Chairman of Williamson Magor & Co Ltd, the holding company of the McLeod Russel, world's largest tea producer. Known in global tea circles as the “evergreen tea man of India”, exactly 30 years ago on this day had almost lost his life in a blast in London. But by then he had established his Tea Empire in Assam. Later on, he went onto extend his tea geography to Uganda, Rwanda and Vietnam.

    At the Asian Business Leadership Forum who among the following was conferred with the lifetime achievement award? Ans : (1)
    1. Prathap Reddy 2. Vinay Roy 3. Sanju Bindra 4. Akash Veena 5. Shailesh

    Explanation: Prathap C. Reddy, Chairman of Apollo Hospitals Group, was conferred with the Lifetime Achievement Award at the Asian Business Leadership Forum Awards held in Dubai recently. Sheik Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline & Group, gave away the award, which has been instituted by the UAE-based Indian Expressions.

    According to Boston and International Association of public transport, which Indian city is regarded as the most progress in providing public transport? Ans : (1)
    1. Kolkata 2. Mumbai 3. Delhi 4. Hyderabad 5. Ahmedabad

    Explanation: In the matter of public transport, Kolkata is regarded the most progressive city in the country, according to a new study. The study of 84 cities across the world titled 'Future of Urban Mobility 2.0', ranks Kolkata at 31-highest among the six cities studied in India. While Mumbai (41) comes second, Chennai (54) comes third followed by Hyderabad (55), Bangalore (65) and Delhi (79). The study was released on 16th December by Arthur D Little, a management consultant based in Boston and International Association of Public Transport (UITP).

    With which of the following nation India has singed DTAA on 17th December, 2013? Ans : (4)
    1. Cyprus 2. Egypt 3. South Africa 4. Macedonia 5. None

    Explanation: India and Macedonia have signed a new double taxation avoidance agreement (DTAA) that provides for among other things exchange of banking information for tax administration purposes. This DTAA was signed by External Affairs Minister Salman Khurshid and Macedonia's Foreign Minister Nikola Poposki on 17th December

    The Asian Development Bank has decided to provide $150 million loan to petronet LNG ltd to increase terminal capacity in which state? Ans : (3)
    1. Haryana 2. Andhra Pradesh 3. Gujarat 4. Kerala 5. Goa

    Explanation: The Asian Development Bank (ADB) will provide a $150 million loan to Petronet LNG Ltd to increase terminal capacity in Gujarat. The project — which will increase the supply of natural gas to 15 million tonne annually (mtpa) from the current 10 mtpa — will help meet demand for compressed natural gas for transportation, piped gas to households, fuel for gas power plants, and feedstock for fertiliser plants, mostly in the North and West. The additional supply will translate to a reduction in the emission of around 3.15 million tonne of carbon dioxide every year, the statement said.

    In which year, Sarfesi Act was introduced? Ans : (5)
    1. 1998 2. 1999 3. 2000 4. 2001 5. 2002

    Explanation: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties (residential and commercial) when borrowers fail to repay their loans. It enables banks to reduce their non-performing assets (NPAs) by adopting measures for recovery or reconstruction.

    Who won Champion of Champions title in pistol event on 17th November? Ans : (1)
    1. Samresh Jung 2. Karni Singh 3. Dharmendra Singh 4. Akash Pilot 5. None

    Explanation: Ace marksman Samresh Jung won the 'Champion of Champions' title in pistol event after he defeated Shweta Chaudhary in the final round in the 57th National Shooting Championships at Karni Singh Ranges on 17th November. Jung also collected a cash prize of Rs 25,000. In the finals of 10m Air pistol men's event, Dharmendra Singh of Army won the gold in a very close fight with his own teammate Jitu Rai

    Sushil Muhnot is the Chairman and Managing Director of which bank? Ans : (3)
    1. Bank of Baroda 2. India 3. Bank of Maharashtra 4. Canara Bank 5. Vijaya Bank

    Explanation: Bank of Maharashtra has a new Chairman and Managing Director in Sushil Muhnot. Prior to this appointment, Muhnot was Chairman of Small Industries Development Bank of India since April 2012.

    Under which article, the President rule is Imposed in states? Ans : (4)
    1. 125 2. 126 3. 256 4. 356 5. 400

    Explanation: President's Rule refers to Article 356 of the Constitution of India deals with the failure of the Constitutional machinery of an Indian state. In the event that government in a state is not able to function as per the Constitution, the state comes under the direct control of the central government, with executive authority exercised through the Governor instead of a Council of Ministers headed by an elected Chief Minister accountable to the state legislature