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    Weekly Bits 26-05-14
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    1) Nabam Taku sworn in as the Chief Minister of which state for the second consecutive term? Ans : (1) 1. Arunachal Pradesh 2. Mizoram 3. Manipur 4. Tripura 5. Meghalaya

    Explanation: Veteran Congress leader Nabam Tuki was sworn in as the eighth Chief Minister of Arunachal Pradesh for the second consecutive term on 18th May.

     
    2) Who among the following woman Candidate bagged the New Delhi Lok Sabha seat? Ans: (2)
    1. Sheila Dixith 2. Meenakshi Lekhi 3. Jaya Bacchan 4. Jayaprada 5. Jaya Jaitely

    Explanation: The New Delhi Lok Sabha seat has been bagged by a woman candidate after a gap of 54 years. For the 16th Lok Sabha, BJP leader Meenakshi Lekhi defeated sitting MP and Ajay Maken from New Delhi. Lawyer-turned-politician Lekhi, is the second woman to have gained victory on this seat after freedom fighter and former Uttar Pradesh Chief Minister Sucheta Kriplani. Kriplani was elected to the Lok Sabha in 1952 and 1957 from the same constituency.

     
    3) The Nuclear Scientist and Padma Bhushan recipient N Srinivasan died on ……….? Ans:(3)
    1. 17th May 2014 2. 18th May 2014 3. 19th May 2014 4. 20th May 2014 5. 21st May 2014

    Explanation: Veteran nuclear scientist and Padma Bhushan recipient, N Srinivasan (84), died on 18th May. Srinivasan joined the Department of Atomic Energy in 1953 and was the design engineer for the plutonium plant at Trombay. He established the indigenous technology for reprocessing spent fuels from thermal reactors. He was the first Project Director of the Reactor Research Centre (renamed subsequently as Indira Gandhi Centre for Atomic Research) at Kalpakkam and was responsible for establishing various programmes and facilities related to fast reactors and associated fuel cycle. As Chief Executive of Heavy Water Board, he enabled the country attain self—sufficiency in Heavy Water production, the release said. He bagged several honours, including the Padma Bhushan in 2000
    The Indira Gandhi Centre for Atomic Research (IGCAR) is one of India's premier nuclear research centres. The centre is engaged in a broad-based multidisciplinary programme of scientific research and advanced engineering directed towards the development of Fast Breeder Reactor technology. The Reactor Research Centre set up at Kalpakkam, India, 80 km south of Chennai in 1971 under the Department of Atomic Energy (DAE) was renamed Indira Gandhi Center for Atomic Research (IGCAR) in 1985. The Director of IGCAR is Dr. P.R. Vasudeva Rao (1 February 2013 onwards).

     
    4) The President dissolved ……….. Lok Sabha on 18th May 2014? Ans: (4)
    1. 12th 2. 13th 3. 14th 4. 15th 5. 20th

    Explanation: The formal process for constitution of the new Lok Sabha commenced on 18th May with the Election Commission handing over the list of members of the 16th Lok Sabha to President Pranab Mukherjee. The President also dissolved the 15th Lok Sabha. The full Commission comprising Chief Election Commissioner V.S. Sampath and Election Commissioners H.S. Brahma and Nasim Zaidi approved the Section 73 notification under the Representation of the People Act, 1951, notifying the names of the members elected.
    ELECTION COMMISSION
    The Election Commission of India is an autonomous, constitutionally established federal authority responsible for administering all the electoral processes in the Republic of India. Under the supervision of the commission, free and fair elections have been held in India at regular intervals as per the principles enshrined in the Constitution. The Election Commission has the power of superintendence, direction and control of all elections to the Parliament of India and the state legislatures and of elections to the office of the President of India and the Vice-President of India.
    The power of superintendence, direction and control of all elections to the Local Government/Municiple Corporation by the State Election Commission.
    The Chief Election Commissioner can be removed from his office by Parliament with two-thirds majority in Lok Sabha and Rajya Sabha on the grounds of proven misbehaviour or incapacity. Other Election Commissioners can be removed by the President on the recommendation of the Chief Election Commissioner. The Chief Election Commissioner and the two Election Commissioners draw salaries and allowances at par with those of the Judges of the Supreme Court of India as per the Chief Election Commissioner and other Election Commissioners (Conditions of Service) Rules, 1992. The current CEC is V.Sundaram Sampath.

     
    5) How many parties registered for Lok sabha polls in the year 2014? Ans:(1)
    1. 1,687 2. 1,278 3. 1, 987 4. 1,998 5. 1,999

    Explanation: The number of registered political parties in this year’s Lok Sabha polls has surged to a record 1,687, an increase of over 30 times since the first elections were held in 1952. According to figures released by the Election Commission, only 53 parties contested then, while the figure stood at 363 during the 2009 election. In the first Lok Sabha polls, out of 53 parties, 14 were national and 39 regional.
    In 1962, only six national parties and 11 regional parties, of the 27 parties registered, participated in the election. Ten ‘registered but not recognised’ parties also took part in that election.
    In the sixth Lok Sabha election in 1977, held after the Emergency, 34 parties contested, of which five national and 15 regional parties put up candidates. The country witnessed another elections just after three years, in which six national, 19 regional, and 11 ‘registered but not recognised’ parties contested.
    The number kept increasing significantly and reached 209 in the 1996 election. The figure included 8 national parties and 30 regional parties. The rest were ‘registered but not recognised.’ Elections were held in 1998 after the government elected in 1996 collapsed and the 12th Lok Sabha was convened. A total of 69 political parties contested the 1999 polls, while 76 had contested in 1998. The number again increased to 215 in the 2004 Lok Sabha elections. The number increased significantly in 2009 where 363 parties participated. Out of 363, seven were national parties, 34 were regional, and 322 fell in the category of ‘registered but not recognised.’
    What is a registered political party?
    A political party shall be treated as a recognised political party in a State, if and only if either the conditions specified in Clause (A) are, or the condition specified in Clause (B) is, fulfilled by that party and not otherwise, that is to say
    (A) that such party –
     has been engaged in political activity for a continuous period of five years; and
     has, at the last general election in that State to the House of the People, or, as the case may be, to the Legislative Assembly of the State, returned-
    either ( i ) at least one member to the House of the People for every twenty-five members of that House or any fraction of that number from that State; or (ii) at least one member to the Legislative Assembly of that State for every thirty members of that Assembly or any fraction of that number;
    (B) that the total number of valid votes polled by all the contesting candidates set up by such party at the last general election in the State to the House of the People, or as the case may be, to the Legislative Assembly of the State, is not less than six per cent of the total number of valid votes polled by all the contesting candidates at such general election in the State.
    2. The conditions in Clause (A) or Clause (B) above shall not be deemed to have been fulfilled by a political party, if a member of the House of the People or the Legislative Assembly of the State becomes a member of that political party after his election to that House or, as the case may be, that Assembly.
    3. 'State’ includes the National Capital Territory of Delhi and the Union Territory of Pondicherry.
    4. If a political party is treated as a recognised political party in four or more States, it shall be known as a `National Party’ throughout the whole of India, but only so long as that political party continues to fulfill thereafter the conditions for recognition in four or more States on the results of any subsequent general election either to the House of the People or to the Legislative Assembly of any State.
    5. If a political party is treated as a recognised political party in less than four States, it should be known as a `State Party’ in the State or States in which it is so recognised, but only so long as that political party continues to fulfill thereafter the conditions for recognition on the results of any subsequent general election to the House of the People or, as the case may be, to the Legislative Assembly of the State, in the said State or States.
    ADVANTAGES OF REGISTERED POLITICAL PARTIES
    The candidates set up by a political party registered with the Election Commission of India will get preference in the matter of allotment of free symbols vis-à -vis purely independent candidates. Further, registered political parties, in course of time, can get recognition as `State Party’ or National Party’ subject to the fulfillment of the conditions prescribed by the Commission in the Election Symbols (Reservation and Allotment) Order, 1968, as amended from time to time. If a party is recognised as a State Party’, it is entitled for exclusive allotment of its reserved symbol to the candidates set up by it in the State of States in which it is so recognised, and if a party is recognised as a `National Party’ it is entitled for exclusive allotment of its reserved symbol to the candidates set up by it throughout India. Recognised `State’ and `National’ parties need only one proposer for filing the nomination and are also entitled for two sets of electoral rolls free of cost and broadcast/telecast facilities over Akashvani/Doordarshan during general elections.

     
    6) According to RBI, Bank deposits grew to how much percent? Ans:(2)
    1. 14.5% 2. 14.8% 3. 15.1% 4. 14.9% 5. 15.6%

    Explanation: Bank deposits grew 14.8 per cent year-on-year to Rs 78,88,416 crore as of May 2, faster than credit growth, according to the RBI data. Deposits of commercial banks stood at Rs 68,68,811 crore during the same period last year, according to the RBI’s fortnightly data.

     
    7) Bank Credit grew to how much percent according to RBI? Ans:(2)
    1. 13.1% 2. 13.8% 3. 13.6% 4. 13.9% 5. 13.4%

    Explanation: Bank credit grew at 13.8 per cent year-on--year to Rs 60,67,459 crore in the reporting fortnight, as against Rs 53,29,812 crore last year. During the period, the time deposit grew 14.71 per cent at Rs 71,40,184 crore as against Rs 62,24,047 crore in the previous year.
    Demand deposit rose 16.04 per cent to Rs 7,48,231 crore from Rs 6,44,764 crore in the year ago period. On a fortnightly basis, deposits rose marginally by 0.23 per cent to Rs 78,88,416 crore as against Rs 78,69,967 crore in the week ended April 18. Credit growth was up at Rs 60,67,459 crore from Rs 60,36,083 crore.

     
    8) Prime Minister’s Economic Advisory Council Chairman handed over his resignation to the Prime Minster Manmohan singh. Who was he? Ans:(2)
    1. Sumith Bose 2. C . Ranga Rajan 3. M. Radha Krishnan 4. T. Subramanyam 5. V. Sunanada Das

    Explanation: Prime Minister's Economic Advisory Council Chairman Dr C Rangarajan on 19th May handed over his resignation to the Prime Minister Manmohan Singh. The present PMEAC headed by Rangarajan had Saumitra Chaudhuri, VS Vyas, Pulin Nayak, and Dilip Nachane as members. The term of PMEAC members is co-terminus with that of the Prime Minister.

     
    9) Which Union Territory holds the distinction of recording the highest percentage (3 per cent) of None of the Above (NOTA) votes cast in the Lok Sabha polls? Ans:(3)
    1. Anadaman & Nicobar 2. Lakshadweep 3. Puducherry 4. Daman & Diu 5. Dadra Nagar Haveli

    Explanation: IPuducherry holds the distinction of recording the highest percentage (3 per cent) of None of the Above (NOTA) votes cast in the Lok Sabha polls. A close second is Meghalaya, where 2.8 per cent of the electors pressed the NOTA button.
    The Election Commission website also shows that across the nation, 1.1 per cent of the electorate opted for NOTA. In Gujarat, NOTA accounted for 1.8 per cent of the votes polled. Chhattissgarh and Dadra and Nagar Haveli also reported 1.8 per cent. Bihar reported 1.6 per cent and Mizoram and Odisha, 1.5 per cent each. In Tamil Nadu and Sikkim the number stood at 1.4 per cent.
    NOTA
    None of the Above (NOTA), also known as "against all" or a "scratch" vote, is a ballot option in some jurisdictions or organizations, designed to allow the voter to indicate disapproval of all of the candidates in a voting system. It is based on the principle that consent requires the ability to withhold consent in an election, just as they can by voting no on ballot questions.
    Entities that include "None of the Above" on ballots as standard procedure include India ("None of the above"), Greece, the U.S. state of Nevada, Ukraine, Spain, and Colombia . Russia had such an option on its ballots until it was abolished in 2006. Bangladesh introduced this option in 2008. Pakistan introduced this option on ballot papers for the 2013 Pakistan elections but later the Election Commission of Pakistan rejected this.

     
    10) Which Country set up a 10 billion Yuan ($1.6 billion) fund to take forward its ambitious “maritime silk road plan” to build ports and boost maritime connectivity with Southeast Asian and Indian Ocean littoral countries?Ans:(2)
    1. Japan 2. China 3. Thailand 4. USA 5. Russia

    Explanation: The 10 billion Yuan (around Rs.10,000 crore) fund will support infrastructure projects under the umbrella of the silk road plan. The deal for the fund was signed on Monday in coastal Fujian province, one of three key regions tasked with pushing the silk road plan. The maritime silk road plan has become a key initiative of President Xi Jinping’s government, first mooted when the Chinese leader was on a high-profile trip to Southeast Asia in October.
    SILK ROAD
    The Silk Road, or Silk Route, is a series of trade and cultural transmission routes that were central to cultural interaction through regions of the Asian continent connecting the West and East by linking traders, merchants, pilgrims, monks, soldiers, nomads, and urban dwellers from China to the Mediterranean Sea during various periods of time.
    Extending 4,000 miles (6,437 kilometres), the Silk Road derives its name from the lucrative trade in Chinese silk carried out along its length, beginning during the Han Dynasty (206 BC – 220 AD). The Central Asian sections of the trade routes were expanded around 114 BC by the Han dynasty, largely through the missions and explorations of Chinese imperial envoy,Zhang Qian. The Chinese took great interest in the safety of their trade products and extended the Great Wall of China to ensure the protection of the trade route.
    Trade on the Silk Road was a significant factor in the development of the civilizations of China, the Indian subcontinent,Persia, Europe, and Arabia, opening long-distance, political and economic interactions between the civilizations. Though silk was certainly the major trade item from China, many other goods were traded, and various technologies, religions, and philosophies, as well as the bubonic plague (the "Black Death"), also traveled along the Silk Routes. In addition to economic trade, the Silk Road served as a means of carrying out cultural trade among the civilizations along its network.
    The main traders during antiquity were the Chinese, Persians, Romans, Armenians, Indians, and Bactrians, and from the 5th to the 8th century the Sogdians. During the coming of age of Islam, Arab traders became prominent.

     
    11) The United Nations appealed to donors on 19th May for $60 million in aid to help avert famine and a humanitarian disaster in which country? Ans:(1)
    1. Somalia 2. Syria 3. Russia 4. Iran 5. South Korea

    Explanation: Somalia’s civil war has lasted more than two decades and displaced millions of people. The fledgling government, with help from African Union troops, is battling al-Qaeda-linked al-Shabaab militants.
    A new government offensive has weakened al-Shabaab. But Lazzarini said the group was enacting a policy of “encirclement,” cutting off roads into government-controlled towns to humanitarian agencies and causing food prices to soar.
    The aid would be used to treat malnourished children, transport food supplies, provide clean water to drought-hit areas and vaccinate against disease outbreaks.

     
    12) According to a Planning Commission expert group, India will have to invest how much billion in the two decades ending2030 to reduce its emission intensity to gross domestic product (GDP) by 42 per cent over 2007 levels? Ans:(1)
    1. $ 834 billion 2. $ 456 billion 3. $ 345 billion 4. $ 678 billion 5. $ 890 billion

    Explanation: According to the final report of the expert group on low carbon strategies for inclusive growth, the massive change in the energy mix by 2030 will result in lower annual demand of coal at 1,278 million tonnes from an estimated 1,568 million tonnes. The measures would help in reducing demand for crude oil to 330 million tonnes, from an estimated 406 million tonnes by 2030. The low carbon emission strategy would increase the consumption of gas in energy mix and its consumption would increase from 187 billion cubic metres (bcm) to 208 bcm, said the report. Under the low carbon energy mix, the installed capacities of wind and solar power would have to be increased to 118 Gigawatts (GW) and 110 GW, respectively, by 2030.
    According to Kirit Parikh, a former member of the Planning Commission (Energy) and head of the expert group, which released the report in Delhi on Monday, the huge investments needed in low carbon strategy would have little impact on economic growth. He opined that the Indian economy is expected to be growing at a rate of 7.03 per cent per annum till 2030 and with the investment of $834 billion over two decades on low carbon strategy, it would grow at 6.87 per cent every year.
    The report also highlights the importance of more efficient coal power plants in the future and the use of renewable energy resources. It suggested that the aim should be that at least one third of power generation by 2030 be fossil-fuel free.,
    It also suggested that the Indian government needs to allocate more resources to the 'Green India Mission' to enhance the stock of growing forests, and to improve provisioning of ecosystem goods and services in the country.

     
    13) Which country Archers Bagged two medals in World Cup? Ans:(2)
    1. Japan 2. India 3. Australia 4. Nigeria 5. Somalia

    Explanation: Indian recurve archers bagged two medals — a silver and a bronze — in the second World Cup held at Medellin, Columbia on 19th May.

     
    14) Senior minister Anandiben Patel, will be the new Chief Minister of which state? Ans:(2)
    1. Maharashtra 2. Gujarath 3. Bihar 4. Sikkim 5. Nagaland

    Explanation: Senior Gujarat minister Anandiben Patel, will be the new Chief Minister of Gujarat. At present the minister for revenue, roads and buildings and urban development, Anandiben would ensure continuity in governance.

     
    15) To deepen the corporate bond market, the Reserve Bank of India (RBI) on which day proposed allowing banks to provide partial credit enhancements to the debt instrument? Ans:(2)
    1. 21st May 2. 20th May 3. 19th May 4. 22nd May 5. 23rd May

    Explanation: The central bank has released a draft circular on allowing partial credit enhancements to corporate bonds and invited comments from stakeholders by the end of next month.
    The objective of the move is to enhance credit ratings of the corporate bonds raised to set up infrastructure projects. It is also seen as a way of enabling companies to better access the funds from the corporate bond market. Credit enhancement reassures that the borrower will honour the obligation. It reduces default risk and thereby increases the overall credit rating.
    What is debt instrument?
    A paper or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Types of debt instruments include notes, bonds, certificates, mortgages, leases or other agreements between a lender and a borrower.
    What is corporate bond?
    A debt security issued by a corporation and sold to investors. The backing for the bond is usually the payment ability of the company, which is typically money to be earned from future operations. In some cases, the company's physical assets may be used as collateral for bonds. Corporate bonds are considered higher risk than government bonds. As a result, interest rates are almost always higher, even for top-flight credit quality companies.

     
    16) Which country military has imposed martial law amid a political crisis to preserve law and order?Ans:(1)
    1. Thailand 2. Nigeria 3. Malaysia 4. Cambodia 5. None

    Explanation: The Thai military has imposed martial law amid a political crisis to preserve law and order, but says the surprise move is not a coup. The move follows months of tension between the government and opposition. Acting PM Niwatthamrong Boonsongphaisan urged the army to act "under the constitution" and "with no violence", and has asked for new polls in August. The opposition protesters reject elections and one key leader vowed to continue the anti-government campaign.
    The military has also ordered media censorship in the interests of "national security". Both pro and anti-government protesters have been told not to march anywhere in order to prevent clashes. Why has Thailand imposed martial law?
    The commander of the Thai army, General Prayuth Chan-ocha, said the presence of "ill-intentioned groups using weapons to threaten citizens" had justified the introduction of martial law. But there have been months of political turmoil, and it is unclear why the military has suddenly decided to take this action now. The anti-government protest movement had recently threatened to force the cabinet from office, but it has made similar threats many times before.
    In the May second week three people were killed in an attack on an anti-government protest camp and the army warned of "decisive action" if the violence continued, but again there has not been an obvious trigger for Martial law announcement. This is not a coup," the army said in its declaration of martial law. Thailand's army has launched numerous coups in recent decades - there have been 11 since the end of absolute monarchy in 1932. The latest coup was in 2006, when then Prime Minister Thaksin Shinawatra was toppled by the military after being accused of corruption.
    The army is often accused of being sympathetic to the anti-government cause, but for now the government is insisting it is still in control, and that this is not a coup.
    What is Martial law?
    Martial law is the imposition of military power over designated regions on an emergency basis. Martial law is usually imposed on a temporary basis when the civilian government or civilian authorities fail to function effectively (e.g., maintain order and security, or provide essential services). In full-scale martial law, the highest-ranking military officer would take over, or be installed, as the military governor or as head of the government, thus removing all power from the previous executive, legislative, and judicial branches of government

     
    17) According to new Satellite Observations, Antarctica is shedding how many billion tonnes a year of ice into the ocean? Ans:(2)
    1. 150 2. 160 3. 180 4. 199 5. 200

    Explanation: Antarctica is shedding 160 billion tonnes a year of ice into the ocean, twice the amount of a few years ago, according to new satellite observations. The ice loss is adding to the rising sea levels driven by climate change and even east Antarctica is now losing ice.
    Global warming is pushing up sea level by melting the world’s major ice caps and by warming and expanding oceans. The loss of the entire western Antarctica ice sheet would eventually cause up to 4 metres of sea-level rise, devastating low-lying and coastal areas around the world.
    The new data, published in journal Geophysical Research Letters, comes from the European Space Agency’s CryoSat-2 satellite, which was launched in 2010.
    It shows that the western Antarctica ice sheet is where 87% of the lost ice is being shed, with the east Antarctic and the Antarctic peninsula shedding the rest. The data collected from 2010-2013 was compared to that from 2005-2010.
    The satellite measures changes in the height of the ice and covers virtually the whole of the frozen continent, far more of than previous altimeter missions.
    CryoSat-2 collected five times more data than before in the crucial coastal regions where ice losses are concentrated and found key glaciers were losing many metres in height every year. The Pine Island, Thwaites and Smith Glaciers in west Antarctica were losing between 4m and 8m annually.

     
    18) Who among the following was selected to head ONGC Videsh Ltd? Ans:(1)
    1. Narendra Kumar Verma 2. Surendra kumar Verma 3. Subramanyam 4. T K Goel 5. M Saravanan

    Explanation: Narendra Kumar Verma was on 21<st May selected to head ONGC Videsh Ltd, India's flagship overseas oil and gas assets acquisition firm. Mr Verma, is currently director for exploration at OVL's parent company, Oil and Natural Gas Corp (ONGC).
    ONGC VIDESH LIMITED
    Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun. It is a Public Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. It is India's largest oil and gas exploration and production company. It produces around 69% of India's crude oil(equivalent to around 30% of the country's total demand) and around 62% of its natural gas.

     
    19) Pawan Chamling was sworn in as which state’s Chief Minister for the record of fifth consecutive time on 21st May? Ans:(3)
    1. Mizoram 2. Meghalaya 3. Sikkim 4. Nagaland 5. Tripura

    Explanation: The Chamling-led Sikkim Democratic Front (SDF) had secured a two-thirds majority in the Assembly elections winning 22 seats out of 32.
    In power since December 12, 1994, the 63-year-old Chamling has already completed two uninterrupted decades as the CM of the erstwhile Himalayan kingdom which had merged with India in 1975
    After being sworn in for the fifth consecutive time, he was on his way to break the late Communist patriarch Jyoti Basu’s record of being India’s longest serving Chief Minister. Basu had ruled West Bengal for 23 years from 1977 till 2000.

     
    20) Naveen Patnaik was sworn in as Chief minister of ………….? Ans:(2)
    1. Sikkim 2. Odisha 3. Assam 4. Goa 5. UP

    Explanation: Biju Janata Dal president Naveen Patnaik was sworn-in as Chief Minister of Odisha for the fourth consecutive term in Bhubaneswar on 21
    st
    May.

     
    21) To get the status of opposition leader in Lok sabha, minimum a party is required how many Members, from single party? Ans:(3)
    1. 50 2. 51 3. 55 4. 56 5. 52

    Explanation: To get the status of opposition leader in Lok sabha, minimum a party is required 55 Members, from single party. How ever now second largest party in the 16th Lok sabha is congress which consists of only 44 Members.
    A party needs 10 per cent of the strength of the House (55 in the Lok Sabha) to stake claim, and the largest Opposition, the Congress, with 44 seats is way short of that number. Although the UPA has 60 members, this is of no relevance in appointing Leader of the Opposition.
    OPPOSITION LEADER IN INDIA
    Each House of the Parliament of India has a Leader of the Opposition. While the position also existed in the former Central Legislative Assembly of British India, and holders of it there included Motilal Nehru, it got statutory recognition through the Salary and Allowances of Leaders of Opposition in Parliament Act, 1977 which defines the term ‘Leader of the Opposition' as that member of theLok Sabha or the Rajya Sabha who, for the time being, is the Leader of that House of the Party in Opposition to the Government having the greatest numerical strength and recognized, as such, by the Chairman of the Rajya Sabha or the Speaker of the Lok Sabha. However, in order to get formal recognition,the concerned party shall have at least 10% seat of total strength of house. If any party fails to get 10% seats in opposition, the house will not have recognized leader of opposition.
    The post also carries similar weight-age to that of a cabinet minister and is seen as being comparable to the Prime Minister who is leader of the ruling party.

     
    22) The highest turnout of voters in the Lok Sabha election was recorded in which state? Ans:(1)
    1. Nagaland 2. Tripura 3. Mizoram 4. Madhya Pradesh 5. Andhra Pradesh

    Explanation: The highest turnout of voters in the Lok Sabha election was recorded in the northeastern state of Nagaland, with 87.82 percent of electors exercising their franchise, while the lowest turnout of 49.52 percent was in Jammu and Kashmir, the Election Commission said.
    The female voter turnout was higher than the male turnout in 16 states and union territories -- Bihar, Uttarakhand, Himachal Pradesh, Arunachal Pradesh, Manipur, Meghalaya, Tamil Nadu, Goa, Dadra and Nagar Haveli, Daman and Diu, Lakshadweep, Chandigarh, Odisha, Puducherry, Punjab and Sikkim.
    The average voter turnout was 66.4 percent, highest since the first general election in 1951, against 58.19 percent in the 2009 poll
    The poll panel said that, besides Nagaland, the states where the voter turnout crossed the 80-percent mark were Tripura (84.72 percent), Sikkim (83.37 percent) and West Bengal (82.16 percent.

     
    23) The Reserve Bank of India (RBI) on which day liberalized gold import norms under the 80:20 rule?Ans:(1)
    1. 21st May 2. 22nd May 3. 23rd May 4. 24th May 5. 25th May

    Explanation: The Reserve Bank of India (RBI) on 21st May liberalized gold import norms under the 80:20 rule. Though the ratio hadn’t been changed, star and premier export houses had been allowed to import the commodity, while banks and nominated agencies had been allowed to provide gold for domestic use as loans to jewellers and bullion traders, said a notification issued by RBI.
    The new norms come into force with immediate effect. Under the 80:20 scheme, the government had, on August 14 last year, allowed nominated agencies to import gold on the condition that 20 per cent of the import would be exported.
    Currently, average gold import a month is about 25-30 tonnes; this could well rise to 60 tonnes.

     
    24) The Reserve Bank of India (RBI) has simplified the rules for credit to exporters. They can now get long-term advance from banks for up to how many years to service their contracts, easing the previous norms that only allowed on loans above one year? Ans:(1)
    1. 10 years 2. 11 years 3. 12 years 4. 13 years 5. 14 years

    Explanation: Banks can make such payments to exporters with a satisfactory record of three years and adjust these payments against future exports.
    RBI also said banks cannot charge interest rates exceeding 200 basis points above the London Interbank Offer Rate. Banks should ensure compliance with anti-money laundering norms and know your customer guidelines.
    According to RBI such export advances shall not be permitted to be used to liquidate rupee loans. Double financing for working capital and execution of export orders should be avoided. Also exporters who receive loans of $100 million or above need to report the transaction immediately to RBI.

     
    25) Russia’s $400 billion deal to supply natural gas to which country after more than a decade of negotiations is tilting the world’s largest energy exporter toward Asia as ties worsen with the U.S. and Europe? Ans:(1)
    1. China 2. Japan 3. India 4. Syria 5. Italy

    Explanation: Russian President Vladimir Putin is turning eastward as sanctions imposed by the U.S. and the European Union because of the standoff over Ukraine batter the Russian economy. The increasing alienation makes trade with China, the country’s largest trading partner after the two-way volume surged sevenfold in the past decade to about $94 billion last year, even more important.