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CURRENT AFFAIRS 18th December’14 1) What important decision pertaining to curtailing terrorism in the country was taken by Pakistan Prime Minister Nawaz Sharif on 17 December 2014 a day after his country was at the receiving end of the deadliest terror attack in its history that saw over 130 children being killed? – The moratorium on capital punishment was lifted for terrorists Explanation: Nawaz Sharif announced lifting up of the moratorium on capital punishment and approval for the implementation of death penalty to any and all of captives who have been involved in terrorism or militancy. The announcement was made in an all party meet held in the Governor House that was led by the PM Nawaz Sharif and attended by all parties like PML-N, PTI, PPP, ANP, MQM and also Jamaat-e-Islami. 3 day national mourning is being observed in the country after Taliban militants killed over 130 people nearly all of them children, at a school in the northwestern city of Peshawar. 2) Which prominent country’s currency came under tremendous crisis on 16 December 2014 as the price collapsed almost 11% against US dollar on this day? – Russian Ruble Explanation: Russian currency Ruble (also called Rouble) hit record low on 16 December due to numerous reasons – low oil prices, looming recession and Western sanctions over the Ukraine crisis. It lost almost 11% of its value against the US dollar on this single day, which was its steepest one-day fall since the Russian financial crisis of 1998. It has fallen 20% since the start of the week and more than 50% this year. The price however stabilized to some extent on 17 December. For the Russian economy, the currency crisis means a deeper recession is more likely next year as high interest rates will crimp growth. For businesses, it means more uncertainty and less access to funding. For the Russian central bank, it means a credibility crisis. It is also expected to shake President Vladimir Putin’s grip over power. 3) The Lok Sabha on 17 December 2014 passed the Companies (Amendment) Bill 2014 through a voice vote. This bill has proposed how many amendments to the existing company law enacted in 2013? – Thirteen Explanation: While some amendments were intended at improving the ease of business, some were focused on addressing the drafting errors. There were also amendments being introduced to tackle the “oversight” issues and those provisions seen to be “oppressive” for doing business. 4) Flight operations of cash-strapped SpiceJet were grounded on 17 December due to which reason? – Non-supply of jet fuel by oil marketing companies Explanation: Not a single flight of SpiceJet could take-off in the morning of 17 December 2014 as PSU oil supply companies did not supplied fuel to airline’s planes. However, some flights took-off in the evening as oil companies resumed supply. Earlier on 16 December the airline had won a crucial reprieve from clamouring creditors after the government asked airport operators and fuel suppliers to give the carrier more time to pay its bills. The Civil Aviation Ministry had also said that airport operators would be asked to give the airline 15 days to make payments, while state oil companies would be ask to give credit for up to 15 days. SpiceJet, which has been in the red since last year, has already cut the size of its fleet by a third since September 2014 and cancelled more than 70 flights a day for the rest of this year. 5) What punishment was given to Indian woman boxer Sarita Devi by the International Boxing Association (AIBA) on 17 December 2014 for refusing to accept Asian Games bronze medal during Asian Games 2014 held in South Korea? – Ban of one year Explanation: The AIBA also handed down a two-year ban on India’s foreign coach B.I. Fernandez (Cuba), while clearing national coach G.S. Sandhu. Sarita Devi lost in the semifinals of the women’s lightweight competition at Incheon, and had tried to give her medal to her opponent at the presentation ceremony. 6) Former Supreme Court judge KS Radhakrishnan was given PETA India’s People of the Year award by animal rights organisation PETA as announced on 17 December 2014. Why this award was conferred on him? – KS Radhakrishnan headed the bench which had imposed a ban on Jallikattu bull races Explanation: Justice Radhakrishnan headed a bench that passed a landmark judgement in favour of PETA India and the Animal Welfare Board of India, clarifying that bulls must not be used in jallikattu, bull races, bullfights or any other type of performance and called for animals to be respected in many other ways. Jallikattu is the traditional bull-fighting festival held in Tamil Nadu during Pongal festivities. PETA on 17 December named Justice (retd) Radhakrishnan as ‘Man of the Year’ and actress Jacqueline Fernandez as ‘Woman of the Year’. In 2013, Fernandez took to Twitter to call for the release of a formerly abused elephant Sunder, who was finally moved from his life of misery to a forested park where he has room to roam and the companionship of other elephants. 7) According to the latest report released by Organization for Economic Cooperation and Development (OECD) on 17 December 2014, which country has the best work-life balance in the World? – Denmark Explanation: According to this OECD report, 2% of employees work very long hours in Denmark, much less than the OECD average of 9%. An important aspect of work-life balance is the amount of time a person spends at work. The two main indicators used to determine work-life balance were ‘time devoted the leisure and personal care’ and ‘employees working very long hours’. In Denmark, full-time workers devote 16.1 hours, or 67%, of their day on average to personal care (eating, sleeping, etc.) and leisure (socialising with friends and family, hobbies, games, computer and television use, etc.) – more than the OECD average of 15 hours. According to the report, Turkey has the worst work-life balance, according to the study. In Turkey 43% of the employees work very long hours. India is not among the 34 member countries of OECD. 8) The Lok Sabha passed the National Capital Territory (NCT) of Delhi Laws (Special Provisions) Amendment Bill, 2014 today which was presented in Lok Sabha by the Union Urban Development Minister Venkaiah Naidu. This bill aims to amend the National Capital Territory of Delhi Laws (Special Provisions) Second Act, 2011 as the deadlines provided under the 2011 Act expires on 31st December 2014. Post the bill approval, the date has not been extended up to 31st December 2017. 9) India’s leading publishing house, Jagran Prakashan (JPL) announced that it would acquire Music Broadcast Pvt. Ltd (MBPL), which runs Radio City FM across seven states. With this, Jagaran Prakashan is all set to venture into the radio broadcasting business. It will be an all cash deal, as per a communication to the stock exchange. JPL publishes 12 newspaper brands with over 100 editions and 250-plus sub-editions in 5 languages. Important 10) India’s space agency ISRO launched its heaviest rocket ever, the 630-tonne, three-stage Geo-Synchronous Satellite Launch Vehicle Mark III, from its base at Sriharikota in Andhra Pradesh today. This successful launch will help the space organisation put heavier satellites and astronauts into orbit and help India become a competitive player in the multimillion dollar commercial launch market. Important 11) Indian film ‘The Lunchbox’ has been named as the best first feature at the 18th annual Toronto Film Critics Association (TFCA) awards in Toronto. It is also the only Indian movie to win a TFCA award. It was voted as the best first feature by the members of the association, which includes Toronto-based journalists and broadcasters who specialize in film criticism and commentary. 12) In a historic decision, US President Barack Obama has announced a series of steps to normalize relations with communist-ruled Cuba after decades. The US Government had severed diplomatic ties and imposed a series of sanctions on Cuba during Cold war era. Obama announced the change in US relations with Cuba, after the country’s communist leaders released an American, named as Alan Gross, who had been imprisoned there for five years. American government has also released some Cuban prisoners who was held for years. 13) Pro-democracy activist of China, Xu Youyu was awarded with the “Olof Palme Human Rights Prize” for the year 2014 for his work for democracy, social justice, human rights and freedom of speech which has universal meaning. The award given annually by the Stockholm-based Olof Palme Memorial Fund of Sweden. “He has worked consistently for a democratisation of Chinese society, while condemning any form of violence as a political method,” the Stockholm-based Olof Palme Memorial Fund said. CURRENT AFFAIRS 19th December’14 1) What is the name of the heaviest next generation rocket launched by ISRO on 18 December 2014 that marked first step towards India’s manned missions? – Geosynchronous Satellite Launch Vehicle-Mark III (GSLV Mark-III) Explanation: The 630-tonne GSLV Mark-III and standing 43.43-metre tall is the heaviest rocket launched till date by ISRO. The launch was done from Satish Dhawan Space Centre at Sriharikota (AP). With successful launch of this rocket ISRO is now hoping this will become the main stay rocket in the future, which later will be suitably equipped for ferrying Indian astronauts into space. Once ISRO masters this rocket, there may not be any need for India to send its heavy-duty communications satellites to space using expensive foreign launchers. It can also hope to make a dent in the multimillion-dollar commercial launch market of the world. The mission cost Rs. 155 crore and its main purpose was to test the rocket’s atmospheric flight stability with around four tonne luggage. The second objective was to study the re-entry characteristics of the crew module – called Crew Module Atmospheric Re-entry Experiment – its aero braking and validation of its end-to-end parachute system. 2) In a historic development United States and Cuba on 17 December 2014 agreed to restore diplomatic ties that Washington severed more than 50 years ago. President Barack Obama called for an end to the long economic embargo against its old Cold War enemy. Which US hostage was released by Cuba on 17 December, which made this development possible? – Alan Gross Explanation: 65-year old Alan Gross, a U.S. international development professional, had been imprisoned in Cuba for five years. He was prosecuted in 2011 after being accused of crimes against the Cuban state for bringing satellite phones and computer equipment. He was released by Cuba on 17 December 2014. His case had been a major obstacle to improving relations. After 18 months of secret talks, Obama and Cuban President Raul Castro agreed in a phone call on 16 December on a breakthrough prisoner exchange, the opening of embassies in each other’s countries, and an easing of some restrictions on commerce. The two leaders made the announcement in simultaneous televised speeches. Cuba and the United States have been ideological foes since soon after the 1959 revolution that brought Fidel Castro to power. US broke diplomatic relations with Cuba in 1961 as it steered a leftist course that turned it into a close ally of the former Soviet Union. 3) The Reserve Bank of India (RBI) on 17 December 2014 imposed fines on state-run Bank of Baroda (BOB) and ICICI Bank – the largest private bank in India. What was the charge on these two banks? – Violation of KYC and anti-money laundering norms Explanation: RBI imposed fines worth Rs.50 lakh and Rs.25 lakh on ICICI Bank and Bank of Baroda, respectively, for violations of its instructions on know-your-customer (KYC) and anti-money laundering norms. Three other banks including State Bank of India, Axis Bank and State Bank of Patiala, were cautioned to put in place appropriate measures and review them from time to time to ensure strict compliance of KYC requirements in future. This RBI action came after it received a complaint in this regard. It cautioned these banks to put in place appropriate measures and review them from time to time to ensure strict compliance of KYC requirements in future. The fraudsters had managed to open fictitious accounts in the name of the statutory organisation in the above five banks and operated the accounts mainly for encashing cheques/demand drafts/postal orders of which they were not the rightful owners, for periods ranging from one month to two years, without being detected by the banks. 4) What is the name of the top Lashkar-e-Taiba (LeT) commander accused of plotting the 26/11 terror attack on Mumbai in 2008, who was granted bail in the same case on 18 December 2014 by Pakistan’s Anti-Terrorism Court? – Zakiur Rehman Lakhvi Explanation: Lakhvi, who was the operational head of the banned Laskhar-e-Taiba, was one of the key planners of the Mumbai attack that killed 166 people. The court observed that the prosecution has been unable to provide evidence against him. He and six others had applied for the bail on 17 December. Granting of bail to Lakhvi came as a big shock to India, especially just a day after Pakistan Prime Minister Nawaz Sharif had pledged to root out terrorism from his country. It is worth mentioning that the seven accused – Lakhvi, Abdul Wajid, Mazhar Iqbal, Hamad Amin Sadiq, Shahid Jameel Riaz, Jamil Ahmed and Younis Anjum are facing trial at the Adiala Jail in Rawalpindi. 5) Which West Indian cricketer hit six sixes in an over on 16 December 2014 during a trial match for Australia’ s Big Bash season? – Kieron Pollard Explanation: Kieron Pollard smashed six sixes in an over in a trial game for the Big Bash team Adelaide Strikers. He thus joined the elite league of 5 players – Sir Garfield Sobers (1968), Ravi J. Shastri (1985), Herschelle Gibbs (2007), Yuvraj Singh (2007) and Jordan Clark (2013) to achieve this feat. Big Bash season started from 18 December. 6) The Finance Ministry has approved 8.75% interest rate on Provident Fund, PF deposits for the financial year 2014-15. Employees’ Provident Fund Organisation, EPFO’s Central Board of Trustees had decided to retain the interest rate on PF deposits at 8.75% for the current financial year at its meeting held on the 26th of August. As per the practice, this decision on interest rate is implemented after the agreement of the Finance Ministry. 7) TVS chairman Venu Srinivasan was made Honorary Citizen of Busan, Korea in order to recognize his efforts to enhance friendship and cooperation between India and Republic of Korea. He was conferred with the title by Mayor of Busan Metropolitan City, Suh Byung-soo during the honorary citizenship ceremony held at Busan. 8) Famous Gandhian and freedom fighter Chunibhai Vaidya passed away at his Ahmedabad residence today morning. He was 97. A true Gandhian and a Sarvoday veteran Chunibhai Vaidya began his life in activism with freedom struggle. He also actively participated in Vinoba Bhave’s Bhoodan Movement. 9) Atletico De Kolkata and Kerala F.C. will play in the final match of ISL tomorrow for the first ISL title. Atletico De Kolkata defeated Goa F.C. in the penalty shoot outs in one semifinal match while Kerala F.C. defeated Chennaiyan F.C. by 4-3 in the other semifinal match. CURRENT AFFAIRS 20th – 21st December’14 1) In an important development on 19 December 2014 Indian scientists claimed achieving self-reliance in development of which armament after successfully testing it? – Glide Bomb Explanation: Glide Bomb relies on small control surfaces which direct the weapon towards a target as it progressively loses altitude after being released from an aircraft. Unlike missiles, glide bombs have no onboard motor and are therefore far cheaper to build and maintain than missiles. On 19 December 2014 India tested a one ton indigenously-developed glide bomb in the Bay of Bengal off the coast of Odisha which successfully hit a target 100 kms away. The bomb was dropped by an Indian Air Force aircraft. It was developed by multiple centres linked to the Defence Research and Development Organisation (DRDO). 2) The Mid-Year Economic Review for fiscal year 2014-15 was tabled in the Lok Sabha on 19 December 2014. According to this review the Indian economy is expected to record what growth rate during the year? – 5.5% Explanation: The Mid-Year Economic Review (2014-15) was prepared by Arvind Subramanian, Chief Economic Advisor in the Finance Ministry. In the review it was stated that adhering to the fiscal deficit target of 4.1% of GDP is a major challenge for the government. The Finance Ministry is now betting big on a pick-up in economic activity in the second half of the year. 3) India on 20 December 2014 exported its first warship – CGS Barracuda to Mauritius. Which ship-building company of the country has built this warship? – Garden Reach Shipbuilders and Engineers Limited (GRSE) Explanation: Kolkata-based Garden Reach Shipbuilders and Engineers Limited (GRSE) is a public sector undertaking (PSU) and has so far made 92 warships for the Indian Navy and Coast Guard. Coast Guard Ship Barracuda (CGS Barracuda) is an offshore patrol vessel measuring measures 74.10 m in length. It is capable of moving at a maximum speed of 22 knots with an approximate displacement of 1350 tonnes. The handing over ceremony of the warship was attended by Minister of State for Defence Rao Inderjit Singh. 4) The RBI Deputy Governor H R Khan on 19 December 2014 stated that RBI will come out with norms on easing the two-factor authentication requirement for small value transactions in a couple of months. What is the limit for small value transactions as proposed by the RBI for same? – Rs. 3,000 Explanation: RBI is looking at removing the two-factor authentication requirement for small value transactions up to Rs. 3,000 to facilitate easy transactions especially in the wake of e-commerce transactions gaining traction. 5) E-commerce major Flipkart on 20 December 2014 filed application to become a public company. Flipkart is being based operated through which country from where it is now being incorporated as a public company? – Singapore Explanation: Flipkart announced filing application with Singapore based companies’ regulator ACRA to become a public company after raising $700 million for long term strategic investments in India. Following this latest investment round its number of investors exceeded 50 and public incorporation is a mandatory procedure for all companies where the number of shareholders exceeds 50. Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal. Legally, Flipkart is a Banglore based company but majority of its shareholders and investors are foreigners. It is presently India’s largest e-retail company and is valued over $10 billion. 6) The name of the co-founder of SpiceJet came to news for leading a $240 million rescue effort to pull the airline from the brink of collapse. Who is he? – Ajay Singh Explanation: Ajay Singh was one of the co-founders of SpiceJet and he had helped set up the airline in 2005. SpiceJet is presently India’s second-largest budget airline but it has been struggling for months. When Kalanithi Maran bought 58.4% stake in SpiceJet in 2010, it was the most profitable airline in the Indian skies. But a series of bad decisions including replacing professionals with family and friends to run the airline have put the carrier in deep trouble. Ajay Singh owns roughly 5% of SpiceJet and is leading talks with private equity firms and the government to hammer out the deal to rescue it. Important 7) The Central government has named Rajinder Khanna, a 1978 batch RAS officer, as the new chief of Research & Analysis Wing (RAW). He will succeed incumbent Alok Joshi, who will retire at the end of this month. Central Government has also appointed Prakash Mishra, a 1978 IPS officer of Odisha cadre, as the chief of Central Reserve Police Force (CRPF) yesterday. Important 8. Richard Rahul Verma has been sworn in as the US Ambassador to New Delhi this week by Secretary of State John Kerry. With this, he has also become the first ever Indian-American to hold the post. His appointment was also confirmed by the Senate by a voice vote last week. Earlier he had played an important role in the Congressional passage of civil nuclear deal with India, and advocated for strong Indo-US ties. He succeeds Nancy Powell, who resigned earlier this year after a damaging row over the treatment of diplomat Devyani Khobragade over visa fraud charges. 9. The mid-year economic review published by the Finance Ministry has projected India’s growth rate at 5.5% for the current financial year 2014-15. The economic review document was tabled by Union Finance Minister Arun Jaitley in Parliament on Friday. 10. India’s foreign exchange (forex) reserves jumped by USD 2.172 billion to USD 316.833 billion in the week ended 12th December, as per weekly report published by the RBI. The jump was mainly due to jump in foreign currency assets which was increased by USD 2.405 billion to USD 292.360 billion in the same week. Special Drawing Rights was increased by USD 21.6 million while India’s reserve position in the International Monetary Fund (IMF) dropped by USD 253.5 million in the same week. Gold Reserves remained unchanged at USD 18.985 billion in the same week. UPDATED BY: TEAM - SIR JOHN SSC COACHING INSTITUTE IN CHANDIGARH & MOHALI SSC COACHING INSTITUTE IN CHANDIGARH & MOHALI BEST INSTITUTE FOR INTELLIGENCE BUREAU EXAM COACHING IN MOHALI BEST INSTITUTE FOR HOTEL MANAGEMENT EXAM MOHALI BEST INSTITUTE FOR CTET & PTET EXAM MOHALI BEST INSTITUTE FOR JBT TEACHERS EXAM CHANDIGARH
Posted on: Mon, 22 Dec 2014 13:05:00 +0000
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