Bank Recruitment: other exams

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Tuesday, 4 February 2014

4 February 2014 – Current Affairs

1) 101^st Indian Science Congress (ISC), which was inaugurated by Prime Minister Dr. Manmohan Singh on 3 February 2014, is being organized at – Jammu University, Jammu (The theme of ISC 2014 is “Innovations in Science and Technology for Inclusive Development”. The Congress would conclude on 7 February 2014)

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2) Price of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) are expected to be reduced by around Rs. 15 and Rs. 5 per kg respectively following a rejig in the domestic gas supplies announced by the Union Government on 3 February 2014. What was done under this rejig? – Government raised domestic gas supplies to raise allocations to fuel retailers (Ministry of Petroleum and Natural Gas decided to raise the share of domestic gas to 100 % of the requirement for CNG (transport) and PNG (domestic). This would lead to reduction in price of CNG (transport) and PNG (domestic) across the country (except in those City Gas Distribution (CGD) entities which are already getting 100% domestic gas))

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3) President Pranab Mukherjee on 3 February 2014 launched the National Mission on Libraries (NML) to modernise and digitally link public libraries across the country. Creation of a National Virtual Library of India is one of the major component schemes of NML. NML is an initiative of which Ministry? – Union Ministry of Culture (Kolkata-based Raja Rammohun Roy Library Foundation (RRRLF) is the nodal agency for the implementation of NML. NML is a 10-member body headed by Prof. Deepak Pental, former Vice Chancellor of Delhi University. Approved by the government in November last year, NML was set up in pursuance of a report of the National Knowledge Commission, which recommended a total revamp of the Library and Information Service sector to serve the changing needs and expectations of the users and give a fillip to the library movement in the country)

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4) Social networking site Facebook completed how many years of its establishment on 4 February 2014? – 10 years (The site was launched by Mark Zuckerberg on 4 February 2004, from Harvard University. The site was conceived as a way to connect students, and let them build an online identity for themselves. The social networking site has since expanded to cover a large swath of the world, with more than 1.2 billion people using its site on a monthly basis)

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5) Who took over as Asian Development Bank’s new Country Director for India on 3 February 2014? - Teresa Kho (She was heading the Bangladesh Resident Mission of ADB and replaced Hun Kim, who is now Deputy Director General of ADB's South Asia Department in Manila)

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6) Who was appointed as the new CEO and Managing Director of MCX Stock Exchange (MCX-SX), the country's newest full-fledged stock exchange on 2 January 2014? – Saurabh Sarkar (He was appointed following a formal approval from market regulator SEBI. Sarkar, previously MD and CEO of United Stock Exchange of India Ltd, has also worked with global financial services giants like Credit Agricole, Standard Chartered and Calyon, and ANZ Grindlays Bank in the past)

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Monday, 3 February 2014

3 February 2014 – Current Affairs

1) India’s first monorail – Mumbai Monorail was opened for the general public on 2 February 2014 after being inaugurated on 1 February. Which authority owns and operates this monorail project? - Mumbai Metropolitan Region Development Authority (MMRDA) - The Rs. 3,000-crore Mumbai Monorail project is being implemented in two phases. The MMRDA has already spent Rs. 1,900 crore of Rs. 3,000 crore allocated for the project, including the civil work for the second phase. Commercial operations of the 8.9-km first phase connecting Wadala-Chembur stations on the northeastern fringe of Mumbai metropolis commenced on 2 February with the first train leaving the Wadala station at 7am. The Mumbai Monorail is not just the first in the country, but across the subcontinent. Monorails are in operation in China, Japan, Singapore, Australia, Dubai, Europe, and the Americas

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2) Indian Museum, Kolkata, which is the largest museum in India, completed how many years of its establishment on 2 February 2014? – 200 years (Indian Museum was founded on 2 February 1814 by the Asiatic Society of Bengal. It is known to be the oldest museum in Asia. Museum’s founder-curator was Dr. Nathaniel Wallich, a Dutch botanist. A special commemorative stamp was released by Prime Minister Dr. Manmohan Singh on this occasion)

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3) Mount Sinabung, which started erupting again on 1 February 2014, is in which country? – Indonesia (16 persons died due to this eruption. Mount Sinabung erupted again on 1 February just a day after authorities allowed thousands of villagers who had been evacuated to return to its slopes, saying volcanic activity was decreasing. Sinabung in western Sumatra (Indonesia) has been erupting for four months)

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4) India completed a 5-0 rout of Chinese Taipei in the first round of their Asia/Oceania Group I Davis Cup tie at MPTA Complex, in Indore on 2 February 2014. India would now face which team in April 2014 to fight for a place in the World Group play-offs? – South Korea

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5) Which team won the Ranji Trophy for 2014 on 2 February 2014? – Karnataka (Karnataka defeated Maharashtra in the Ranji Trophy finals at Hyderabad to claim their 7^th Ranji title. Chasing a modest victory target of 157 in little over two sessions, Karnataka batsmen reached the destination with ease as they knocked off the runs in 40.5 overs)

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6) Who took over as the new Managing Director and Chief Executive Officer of MCX on 1 February 2014? - Dr. Manoj Vaish (Prior to joining MCX, Vaish was the Managing Director & CEO of NSDL Database Management. His appointment was approved for a period of 3 years by the FMC)

Friday, 31 January 2014

31 January 2014 – Current Affairs

by Ravindra Agnihotri

1) The Cabinet Committee on Political Affairs (CCPA) on 30 January 2014 raised the subsidised LPG cylinder quota from 9 to 12 per year per household. It also decided to put on hold the direct benefit transfer scheme for LPG which linked payment of subsidy directly into the bank accounts of the consumers under the Aadhaar platform. After increase in the cap on subsidized LPG cylinders what percentage of LPG cylinders are now covered by subsidisd cylinders? – Around 97% (Petroleum and Natural Gas Minister Veerappa Moily disclosed that 89.2% of the 15 crore LPG consumers use up to nine cylinders in a year and only 10% have to buy the additional requirement at the market price. After the quota is raised to 12, about 97% of the LPG consumers would be covered by subsidised LPG)

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2) With Union government’s decision of increasing the cap on subsidised domestic LPG cylinders from 9 to 12, the subsidy burden on petroleum companies increased substantially (by around Rs. 5,000 crore annually). This decision also affected government’s target of reducing fiscal deficit. When the cap on subsidised domestic LPG cylinders was brought down to just 6, which was later increased to 9? – In September 2012 (Govt. had reduced the cap on subsidised domestic LPG cylinders to just 6 with an objective to reduce its subsidy load and reduce fiscal deficit. However due to severe criticism from several quarters this cap was increased to 9 during January 2013. Now the cap has been increased further to 12)

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3) India Post (Indian postal department) recently announced an ambitious plan to install as many as 3,000 ATMs and 1.35 lakh micro-ATMs at its post offices across the country for savings account holders. This plan would be rolled-out by installing three ATMs in New Delhi, Chennai and Bangalore on 5 February 2014 and then ramp it up gradually. What is the tentative deadline given by India Post for installing these 3,000 ATMs and 1.35 lakh micro-ATMs? - September 2015 (Under this plan, 1,000 ATMs with the India Post branding will be put in within the first year, which will be ramped up massively to 3,000 in the next 18 months. To start with, the ATMs can be used only by 26 crore savings account-holders who save with the postal department but India Post hopes that within six months of the launch, it will get the interoperability permission from the Reserve Bank of India (RBI). Postal savings are worth around Rs 6.05 trillion, which is half the savings in the largest lender SBI and more than double that of the largest private sector lender ICICI Bank)

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4) International creditors on 29 January 2014 started the third bailout review of Cyprus to gauge whether the country is living up to the terms of its financial rescue program. The start of country’s third bailout review comes after earlier assessments concluded that the country was on track, but warned that there was no room to slacken efforts. What was the amount of bailout package approved by the European Union (EU) and International Monetary Fund (IMF) for Cyprus during March 2013? – 10 billion Euro or $13.6 billion (Cyprus’ banking sector is the hardest hit with this bail-out package. The deal saw authorities seize large portions of uninsured savings in the two largest banks and impose capital controls while the second-largest lender was shut down)

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5) Google Inc. on 29 January 2014 announced selling Motorola’s smartphone business (Motorola Mobility) to Chinese company Lenovo for $2.9 billion. The price of the sale makes Google’s biggest acquisition of Motorola look like its most expensive mistake. For what price Google acquired Motorola Mobility in 2012? - $12.4 billion (Motorola has lost nearly $2 billion since Google took over, while trimming its workforce from 20,000 to 3,800. Google had previously recovered some of the money that it spent on Motorola by selling the company’s set-top operations last year to Arris Group Inc. for $2.35 billion. On the other hand Lenovo now appears determined to become a bigger player in smartphones as more people rely on them instead of laptop and desktop computers to go online)

30 January 2014 – Current Affairs

by Ravindra Agnihotri

1) A study conducted by Nielsen and commissioned by Oil Ministry's Petroleum Planning and Analysis Cell (PPAC), in its report has found that cheaper fuel is finding usage by unintended beneficiaries. According to this study what proportion of diesel is being consumed by high-end cars and SUVs (sports utility vehicles)? – 13.15% (This study found that 70% of the diesel was being used in the transport sector. Private cars and SUVs consumed 13.15% of the 69.08 million tonne diesel consumed in the country in 2012-13. Commercial vehicles such as trucks however constituted the largest user base of diesel at 28.25%. Other commercial vehicles used another 8.94% and three-wheelers, a further 6.39%. Agriculture tractors and pumps used 13% of the diesel. Industries and electricity generators consumed almost 9% diesel, while mobile towers used 1.54%. The study found that 99.6% of petrol is consumed in the transport sector alone. Of this, majority consumption of 61.42% is accounted for by two-wheelers while cars use 34.33%, followed by 3-wheelers at 2.34%)

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2) According to the recently released Education for All Global Monitoring Report 2013-14, India has the largest population of illiterate adults in the world and it comprises of about 37% of the global total. What is the total number of illiterate adults in India according to this report? – 287 million or 28.7 crore (The report mentions that India’s literacy rate rose from 48% in 1991 to 63% in 2006, the latest year it has available data, but population growth cancelled the gains so there was no change in the number of illiterate adults)

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3) In a first of its kind venture, six public sector undertakings (PSUs) including state-run Bharat Heavy Electricals Limited (BHEL) and Power Grid Corporation of India Limited (PGCIL) on 29 January 2014 announced joining hands to set up world’s largest 4,000 MW ultra mega solar power project in Rajasthan. Where in Rajasthan this solar plant spread across 19,000 acres is going to be established? – Sambhar (The project will be the largest single location solar plant spread across 19,000 acres at Sambhar in Rajasthan. It entails an investment of Rs. 7,500 crore in the first phase. The JV will have equity of 26% from BHEL, 23% from SECI (Solar Energy Corporation of India), 16% from SSL (Sambhar Salt Ltd), 16% from PGCIL, 16% from SJVNL (Satluj Jal Vidyut Nigam) and 3% from REIL (Rajasthan Electronics & Instruments Limited))

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4) What is the name of the heritage building in Shimla which houses the office of the Accountant General of Himachal Pradesh and was gutted in a major fire on 28 January 2014? - Gorton Castle (A major fire reduced two floors of this magnificent heritage building to ashes. Deriving its name from the former estate upon which it was built, this was the Government of India Secretariat Building from where the affairs of this vast country were administered during the summer months in the colonial times. Crores of rupees had been spent on renovation of this heritage building which was built in 1904. Renovation work was on when the fire broke out in the building)

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5) Which Hindi women novelist’s name was suggested by the Delhi Government as the new chief of Delhi Commission for Women (DCW) to Lt. Governor Najeeb Jung on 29 January 2014 amidst speculations of removing Barkha Singh? - Maitreyi Pushpa (Pushpa is renowned for her feminist writings and strong feminist leanings. The suggestion has come in the backdrop of the Aam Aadmi Party (AAP) government accusing the present DCW chairperson Barkha Singh of politicising the role of her office while dealing with the midnight raid episode allegedly involving Law Minister Somnath Bharti)

Thursday, 23 January 2014

24 January 2014 – Current Affairs

by Ravindra Agnihotri

1) The term ‘Euromaidan’ came to news recently, which stands for a huge spat of civil unrest and anti-government protests in a country. Which country is associated with these protests? – Ukraine (‘Euromaidan’ mean ‘Eurosquare’. It stands for the ongoing protests and civil unrest undertaken by a large section of Ukrainian populace demanding country’s closer integration with Europe. The protests started on 21 November 2013 from Ukraine’s capital Kiev and since then have grown into a strong movement against President Viktor Yanukovych and his government. The protests against Yanukovych started after his apparent move to incline towards Russian Govt. and moving away from European influence. ‘Euromaidan’ is the largest ever pro-European movement in the history. The protest took an ugly and violent form on 19 January and became more violent on 23 January)

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2) President Pranab Mukherjee on 23 January 2014 gave seven more days to the Andhra Pradesh Assembly to discuss and debate the draft Telangana bill in the House before returning it to the Centre. What was the deadline given by the President while sending the bill to the state Assembly? – 23 January 2014 (The decision has been taken by the President following a request of the Andhra Pradesh government which sought four weeks extension of the 23 January deadline. The Andhra Pradesh Reorganisation Bill now has to be returned by the state Assembly by 30 January 2014 with or without its view)

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3) A 60-day state of emergency was imposed in which South-East country’s capital on 21 January 2014? – Thailand (A 60-day state of emergency was imposed in Thailand’s capital Bangkok to suppress the anti-government protests that has blocked the parts of the capital and to take care of the situation and to enforce the law. This emergency came into effect from 22 January and it bans public gatherings, brings into effect censoring of news reports and imposition of curfew for next 60 days)

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4) Tata Chemicals on 23 January 2014 celebrated its platinum jubilee (75^th year) and on this occasion company’s Managing Director R. Mukundan rang the opening bell on the Bombay Stock Exchange. At which place 75 years back Tata Chemicals established its first centre of salt and soda ash production? – Mithapur – Gujarat (Tata Group was associated with Mithapur in 1939 when it took over the Okha Salt Works at Mithapur near Okha. Mithapur, situated between Okha and Dwarka, is a small colony supported by Tata Chemicals Limited, which is one of the flagship companies of the Tata Group)

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5) What is the name of the Indian-American professor who was recently appointed as the Dean of Harvard College in the United States? – Prof. Rakesh Khurana (He will assume his new charge from 1 July 2014. Harvard College is the school within Harvard University that grants undergraduate degrees. Rakesh will thus become the latest addition to a long list of Indian-origin academicians assuming leadership roles at renowned global universities. Before this India-born Prof. Nitin Nohria had also assumed his responsibility as Dean of the Harvard Business School)

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6) Which Telugu film became the first to be released on DTH along with its theatrical release on 24 January 2014? - Minukumanna Minugurulu (This film was released on Airtel Digital TV at 00.30 hours on 24 January (the day of its release) and would be available on this DTH platform for 5 days. Directed by Ayodhyakumar Krishnamsetty, the film’s cast includes national award winning actors Ashish Vidyarthi and Suhasini Maniratnam along with internationally acclaimed actor Raghubir Yadav)

23 January 2014 – Current Affairs

by Ravindra Agnihotri

1) The Reserve Bank of India (RBI), on 22 January 2014, warned that it would withdraw from circulation all old banknotes and announced 31 March 2014 as the deadline for exchanging these notes. Notes issued before which year will be withdrawn by the RBI? – 2005 (According to an RBI advisory, anybody who had such currency notes would have to approach a bank in order to exchange them before 1 April 2014. The RBI would start withdrawing the notes after 31 March 2014. This step will apparently hit currency hoarders and counterfeiters. However, the currency notes issued before 2005 would remain legal tender. But from 1 July 2014 those wanting to exchange more than 10 pieces of 500 and 1000 rupee notes in a bank where they do not have an account will have to provide proof of residence and identity)

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2) Who will be the Chief Guest at the Republic Day Celebrations 2014 to be celebrated on 26 January 2014? - Shinzo Abe, Prime Minister of Japan (Japanese Prime Minister Shinzo Abe will pay an official visit to New Delhi from January 25-27 and will be the chief guest at this year’s Republic Day celebrations)

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3) Who was the head of RBI’s committee on strengthening monetary policy framework, which in its recommendations has suggested that the target for inflation should be set at 4% with a band of +/- 2% around it? – Urjit Patel, Deputy Governor of the RBI (This inflation target is in view of vulnerability of the Indian economy to supply/external shocks and the relatively large weight of food in Consumer Price Index (CPI))

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4) Who was selected to head the National Dairy Development Board (NDDB), who will become the first ever person from the Indian Administrative Service (IAS) to hold the position of NDDB Chairman? – T. Nanda Kumar (Nanda Kumar, currently Member of the National Disaster Management Authority (NDMA), is slated to take over from 1 March 2014. He will replace Amrita Patel who has been holding the post since 1998. Both Patel and her illustrious predecessor Verghese Kurien, who was chairman from 1965 to 1998, had dairy professional backgrounds. NDDB’s heydays were in 1970-95, when it implemented the Operation Flood programme that made India self-sufficient in milk production and end reliance on imports of milk powder and butter oil)

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5) Legendary Telugu actor Akkineni Nageswara Rao (lovingly called ANR) passed away at a private hospital in Hyderabad on 22 January 2014 at the age of 91 years. Father of Telugu superstar Nagarjuna, he founded which famous studios in Hyderabad, which helped in establishing Telugu film industry in this city? – Annapurna Studios (He always wished to stay in Andhra Pradesh as this is where his audience was. With the support of the government, he bought land and developed Annapurna Studio primarily to encourage the migration of the Telugu film industry from Chennai. ANR was awarded Dada Saheb Phalke Award in 1991 and Padma Vibhushan in 2011, which is second highest civilian award of the country)

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6) Which bank came to highlight recently for declaring an interim dividend of 9000%, which is said to be the highest in India’s banking industry? - Tamilnad Mercantile Bank – TMB (Tuticorin-based TMB took a decision to this effect at a meeting held on 18 January 2014. This dividend stands at Rs. 900 per share of Rs 10 each, for the fiscal ending March 2014. This is the second year in a row that the bank has declared such a high dividend. The bank’s board had approved a dividend of Rs 750 per share for 2008-09 and Rs 1,000 per share the following year)

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