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 National Current Affairs : August 2012

N.K. Gupta, 55, took over as Director (Finance) Railtel recently. He is a fellow member of Institute of Cost and Management Accounts of India. He was a member of India Financial Advisor and Chief Account Officer, West Central Railway, Jabalpur (M.P).

Power Grid Corporation of India Limited (POWERGRID) has been conferred the 3rd Rajeev Gandhi Excellence Award 2011 under the ‘Best Power Company of the Year’ Category organized by an NGO ‘Pehchan’ to commemorate Late Prime Minister Rajiv Gandhi’s birthday.

Central Bank of India has won the prestigious ‘Golden Peacock HR Excellence Award’ for the year 2012 instituted by Institute of Directors (IoD),a nonprofit professional organization.

Indian off-spinner Ravichandran Ashwin’s match haul of 12 for 85 against New Zealand in the first Test in Hyderabad has helped him vault 19 places to a career-best 25th position in the ICC rankings for Test bowlers.

Delhi University Teachers Association (DUTA) is going ahead with the 24-hour hunger strike by its executive committee as planned,despite the university threatening that their pay will be cut and that it would affect their service record

The Reserve Bank of India in its annual report released on 23 August 2012 mentioned that it transferred a surplus of Rs 16010 crore to the union government during 2011-12 which is 6.7% more than Rs 15,009 crore transferred in 2010-11.The central bank’s gross income increased by 43.4% to Rs 53176 crore in 2011-12.

Delhi Police issues a look-out notice against former Haryana Minister Gopal Kanda in the Geetika Sharma suicide case.

The Atomic Energy Regulatory Board (AERB) has given its approval for loading fuel at the 1000-MW Unit 1 of the Kudankulam Nuclear Power Plant.

Abu Jundal, one of the handlers of the 26/11 terrorists on Friday expressed his desire before a metropolitan court in Mumbai to confess his complicity in the brazen attack. It can a day after he was confronted with Ajmal Kasab, the lone surviving assassin in the case.

Ex-Army man behind Wisconsin shooting

Stage set to elect new Vice-Prez

Keshubhai Patel launches Gujarat Parivartan Party

3rd commission soon to form new law to protect tribal land

The second medal winner for India, Vijay Kumar, seems to be the man of the moment, with his picture splashed across the front pages of most dailies. ‘Vijay Kumar gives India a silver lining’ is the headline in the Tribune. ‘Vijay diwas for India at London’ is how the Pioneer puts it.

‘Saina runs into China wall’ writes the Indian Express of her losing in the semi-finals. ‘Golden hopes dashed, Saina targets bronze’ says the Hindustan Times.

The cabinet fixing 14000 crore rupees as base price for spectrum auction has not been received well ‘Leaves operators fuming’ says the Business Standard. ‘Mobile companies disappointed, say high price will lead to increase in tariffs’ writes the Business line of the Hindu.

Many dailies show Anna Hazare with former Army Chief Gen. V.K. Singh, as the social activist called off his ann-shan. ‘Fast ends, politics begins’ is the Hindu headline. ‘Team Anna to float political party, draws 2014 battle lines’ writes the Hindustan Times.

With scanty rainfall, ‘a third of the country faces drought like scenario’ says the Business Standard. ‘Deficient rains lower growth forecast to 6 per cent’ writes the Asian Age.

Sanjeev Nanda, of the in famous BMW hit-and-run case getting reprieve figures in most dailies. He now has to pay 50 lakh rupees and do community service for two years, report the papers.

Two fully grown teeth in an eye tumour? Sounds impossible – but it’s true. Doctors in Chennai have successfully operated a lady, for this rare disease called orbital teratoma, writes the Times of India.

And finally, call it emancipation of women, or whatever you want to. The Times of India on its front-page reports of 800 requests in just 2-years, from the fairer sex, for arms licences. A cartoon shows a trigger happy woman saying ‘Now I’ll be calling the shots.’!

Cabinet sets minimum price of 14,000 crore rupees for spectrum auction.

Planning Commission says deficient monsoon likely to pull down economic growth to six percent.

Union Cabinet approves launching of satellite to Mars next year.

A Pakistan military court convicts five senior officers, including a Brigradier, for having links with a banned organisation.

Vijay Kumar shoots a silver for India.

Krishna Poonia qualifies for the women’s discus throw final round.

Saina Nehwal to play for a Bronze in women’s Singles badminton on 4 August.

Last ODI of 5 match series between India and Sri Lanka to be played at Pallekele today.

The power crisis which hit north, east and north east India is the lead in most dailies. ’21 states plunge into darkness as 3 grids collapse on day two’ is the Hindu headline. ’60 crore people affected by outages’ says the Statesman. ’300 trains stranded writes the Indian Express. ‘Miners trapped, doctors hassled and commuters stranded’ says Mail Today.

The next big story of the day is Shinde becoming the new Home Minister and Chidambaram going to Finance. ‘Shinde’s reward on day of worst blackout – Home’ is the Hindustan Times headline; ‘Shinde delivers a big shock, gets Home as reward’ writes the Economics Times. A cartoon in the same paper shows Shinde with a lantern, and Chidambaram telling him ‘Come home, to no power’!

The Reserve Bank of India leaving key interest rates unchanged figures prominently in the business dailies. ‘RBI douses hopes of rate cut in near future’ says the Business Standard. Quoting RBI, the Hindustan Times writes ‘Prices to stay high’.

Indian boxer Devendro Singh’s and shuttler P. Kashyap’s pictures find place in many papers, as they made it to the pre quarter finals at the London Olympics.

Many papers show a jubilant Virat Kohli on their sports pages, celebrating his century. ‘Virat hits another ton, gives India the series’ writes the Hindustan Times.

A brief mention in the Hindustan Times says that Anna plans to return his Padma Bhushan if the government does not take the Lokpal bill seriouslyand his team is not willing to talk even to the PM.

Dr. Ashoke Sen, an Allahabad physicist, winning the biggest prize in academics – the 3 million dollar Yuri Milner award, is reported by the Indian Express.

The CBI filing a closure report on case against Lalli, former CEO, Prasar Bharati, finds place in the Asian Age.

And finally, don’t under estimate social networking sites. The Times of India writes ‘Going to fall ill? Twitter can tell. It uses tracker to predict flu 8 days in advance’!.

August 2012 Multiple choice questions with answers

1. According to the data provided by the Marine Products Export Development Authority (MPEDA) in August 2012, India's marine exports are expected to grow by what per cent year-on-year to USD 4.5 billion in 2012-13 fiscal?
a. 28%
b. 17.2%
c. 13%
d. 23%
Answer: (a)

2. In a move aimed at encouraging investment sentiment in the country, the Union Finance Ministry approved what per cent of foreign direct investment in insurance and pension sector in August 2012?
a. 29%
b. 49%
c. 39%
d. 19%
Answer: (b)

3. Extending the guidelines of securitisation of loan from banks to non-banking finance companies (NBFC),India’s Central Bank Reserve Bank of India on 21 August 2012 tightened the securitisation norms for NBFCs. Which of the following facts are not true with regards to the statement?
1. RBI instructed that a non-banking finance company will have to retain at least 5 per cent of the loan being sold to another entity.
2. RBI in its revised guidelines also stipulated that NBFC cannot sell or securitise a loan unless five
monthly installments have been paid by the borrower
3. The latest directives from the RBI are aimed at checking unhealthy practices and distributing risk to a wide spectrum of investors
4. These guidelines have to implemented by NBFCs in two phases by the end of October 2012.
a. 1 & 3
b. Only 1
c. Only 2
d. Only 4
Answer: (c)

4. As per the data revealed by the Union Aviation Ministry in the Parliament in August 2012, the loss incurred by Air India following its merger with Indian Airlines between 2007-08 and 2011-12 has been pegged at what amount?
a. 21146 crore rupees
b. 23535 crore rupees
c. 32971 crore rupees
d. 28046 crore rupees
Answer: (d)

5. The high-level committee on external commercial borrowings (ECB),chaired by secretary, department of economic affairs Arvind Mayaram decided to further liberalise the foreign borrowing norms. Which of the following with respect to the liberalization norms are not true?
1. It was decided to permitted non-resident entities to provide rating enhancement facility to Indian borrower
2. The government permitted foreign entities to provide credit enhancement to rupee bonds of Indian companies. The minimum maturity period of such rupee bonds was reduced from seven years to three years.
3. The panel also decided to increase the maturity of such buyers credit to maximum seven years thereby allowing companies flexibility in payment
4. Infrastructure and manufacturing companies can re-finance a higher proportion of their rupee borrowings via cheaper overseas debt. These infrastructure and manufacturing companies can now tap overseas loans up to 75% of their average forex earnings
a. Only 2
b. Only 1
c. Only 3
d. 2 & 3
Answer: (c)

6. Which of the following statement/statements is/are not true in relation to United Nations General Assembly adopted Resolution on Syria
(a). Those who opposed the UN resolution including China, Iran, North Korea, Belarus, Cuba argued that putting pressure only on one party would not help resolve the Syrian issue and would instead derail the issue from the track of a political settlement.
(b). The United Nations General Assembly on 5 August 2012 adopted a non-binding resolution that condemns Syria's use of heavy weapons in the fight against rebel forces
(c). The resolution got 133 votes in favour in the 193-member body, while 12 voted against the resolution.
(d). India abstained from voting after it found some of the provisions of the resolution contrary to its long held stance on the Syrian crisis.
Answer: (b)

7. Which two countries signed Agreement for the Modernisation of Indian Railways
(a) United States and India
(b) India and Belgium
(c) India and Afghanistan
(d) Russia and China
Answer. (b) India and Belgium

8. PRI Leader Enrique Peña Nieto elected the New President of ………………………
(a) Britain
(b) Iran
(c) Mexico
(d) Russia
Answer: (c)

9. Which are the two countries signed an signed Collaborative Academic Research Programme Agreement
a. China and United Kingdom
b. India and Israel
c. France and United States
d. China and France
Answer: (b)

10. Romania’s President ……….. survived the impeachment
a) Traian Basescu
b) Ion Iliescu
c) Nicolae Văcăroiu
d) Crin Antonescu
Answer: (a) Traian Basescu



April-2012

1. Name the yesteryear actress who featured in the popular song ‘Ae Meri Zohra Jabeen’ from the film ‘Waqt’who passed away recently.


Achala Sachdev passed away at a Pune hospital on April 30, 2012. Achala was 91 year old. Read More

2. Where in India, largest solar power plant with an installed capacity of 40 MW started producing electricity?
Pokhran in Jaisalmer district of Rajasthan

3. Which department in India plans to set up 1000 ATM’s across 6 states?
Postal department

4. Who created history by becoming the first Indian female wrestler to have qualified for the London Olympics 2012?
Geeta

5. Who has been appointed next Chairman of Atomic Energy Commission?

Ratan Kumar Sinha 

6. In which part of India, Indo Tibetan Border Police headquarters is to be opened?
Bihar

7. Which state’s High Court has insisted that banks cannot freeze accounts nor stop services of issuing cheque book or ATM facility where the account holder has not supplied KYC (Know Your Customers) documents?
Gujarat

8. Name the former Haryana chief secretary who took oath as state information commissioner ?
Urvashi Gulati

9. Which State becames the 3rd state in India to launch State Portal (SP) and State Service Delivery Gateway (SSDG) project?
Nagaland

10. Who won the World Series Hockey 2012 title?
Sher-E-Punjab

11. In which state Urdu medium Government schools would be setup as announced by Chief Minister Akhilesh Yadav?
Uttar Pradesh

12. Where is the World’s first Virtual shopping store opened?
Korea

13. Who is named as HSBC’s India CEO?
Stuart Milne

14. Which Indian state bans guthka from 1st of April 2012 to curb the increasing number of mouth cancer cases?
Madhya Pradesh

15. Which Indian state chief minister has urged union Finance Minister to bail it out of its huge burden?
West Bengal

16. Name the Jammu and Kashmir High Court Chief Justice who was sworn in as Supreme court judge ?
F.M.Ibrahim Kalifulla

17. Name the Gujarati techie whose name has emerged for India’s President as the nation has to elect 16th President in July 2012 ?
Sam Pitroda

18. At what value Air India’s restructuring plan was approved by a group of 19 banks led by SBI?
18,000 crore

19. Which services Airtel is planning to launch in Kolkata in April 2012?
4G services

20. Name the nuclear submarine which joined Indian Navy.
INS Chakra

21. Which education company bagged Rs.209 crore order from Assam Government?
Educomp

22. Which 2 north Indian states will have pipeline connected oil terminals for supply of diesel, petrol and kerosene?
Jammu and Himachal Pradesh

23. Which Asian country has issued tender to buy minimum of 30,000 tonnes of basmati rice from India and Pakistan?
Iraq

24. NSE founder who passes away Recently?
RH Patil
Dr R H Patil, chairman, Clearing Corporation of India (CCIL) and founder-managing director of the National Stock Exchange (NSE) passed away in Mumbai. Read More

25. Who donated 1 million Singapore Dollars to Indian Heritage Centre?
Founder of Singapore-based IT company Si2i Mobility B.K.Modi

26. Name the world’s highest and longest bridge that was officially opened to motorists in China.
Anzhaite Long-span Suspension Bridge in Jishou

27. Which bank has opened 16 Ultra Small branches in 16 locations in villages to cater to financial needs of the rural populace?
IDBI Bank

28. Who has been conferred with Sir Jehangir Ghandy Medal?
Narayana Murthy

29. In which city in Kerala will Infosys setup its 2nd campus?
Thiruvananthapuram

30. Which bank will set up 1-person micro branches to serve remote areas of the northeastern region financially?
Indian Ov