Current Affairs Questions & Answers - Jul 04, 2017

ANSWER: Mahesh Muralidhar Bhagwat

Explanation:
Mahesh Muralidhar Bhagwat, IPS officer from Telangana was conferred with the 2017 Trafficking in Persons (TIP) Report Heroes Award.

This award is given by the Unites States Department of State.

He is third IPS officer to get this honour.

He was awarded for his vital role in elevating human trafficking as a government priority and his innovative approach to investigating cases and dismantling human trafficking operations.

Currently, Mahesh Bhagwat is Police Commissioner of Rachakonda, one of the three Police Commissionerates located in Hyderabad.

Rachakonda Police Commissionerate had closed 25 brothels – 20 residential apartments and five hotels- in less than a year.

The Commissionerate also had participated in one of the largest crackdowns on labour trafficking in the country, which had led to the identification and rescue of more than 350 children bonded forcibly to work in brick kilns

Each year, the US Department of State honours individuals around the world who have devoted their lives to the fight against human trafficking, including lawmakers and police officers.

ANSWER: Rhino

Explanation:
The Assam government is going to raise a new Special Rhino Protection Force (SRPF) for better protection of the one-horned rhinos in Assam.

State government has already started the process of recruitment for the proposed force.

The cadre for the force will selected from local youths hailing from region near the Kaziranga national park.

Recruits will be given necessary training.

They will be also provided with arms and ammunition for better protection of the one horned rhinos.

One horned rhino: Know More

• The greater one-horned rhinoceros is the largest of the Asian Rhinos.
• Its preferred habitat is alluvial flood plains and areas containing tall grasslands along the foothills of the Himalayas.
• Formerly, they were extensively distributed in the Gangetic plains.
• However, today they are restricted to small habitats in Indo-Nepal terai and North Bengal, and Assam. They are found in Kaziranga.
• They are on the IUCN list of threatened species

ANSWER: Germany

Explanation:
Scientists from Physikalisch-Technische Bundesanstalt (PTB) in Germany have developed the world’s sharpest laser with record - breaking precision.

This precision can be useful for various applications such as optical atomic clocks, radioastronomy, precision spectroscopy, testing the theory of relativity and carry out new precision measurements on ultracold atoms.

The laser (light amplification by stimulated emission of radiation) is a device that emits light through a process of optical amplification based on the stimulated emission of electromagnetic radiation.

Major difference between laser and other sources of light is that, laser emits light coherently.

Laser light is used in numerous applications in industry, medicine and information technologies.

It also brought about a real revolution in fields of research and in metrology, astronomy, and medical treatment.

Theoretically, laser light has only one colour, wavelength or frequency.

In reality, however, there is always a certain linewidth.

This newly developed laser has linewidth of only 10 miliHertz (0.01 Hz), - closer to the ideal laser than ever before.

Researchers also have found out that the emitted laser light’s frequency was more precise than what had ever been achieved before.

ANSWER: MP

Explanation:
With an aim to set a world record by planting six crore saplings on July 2, chief minister Shivraj Singh Chouhan has assigned targets to 24 districts.

These are districts where river Narmada flows to cover 1077 km in Madhya Pradesh.

The target varies from planting one lakh saplings to 55 lakh in one day for which arrangements have been made through private nurseries from within and outside the state.

The state forest department is likely to arrange 4.5 crore saplings, while the horticulture department will manage 40 lakh fruit plants.

The rest has been arranged from private nurseries within the state and from Meerut, Jalgaon and Nagpur.

The districts have been assigned target of planting one lakh to 55 lakh saplings a day for which they have been asked to arrange additional workforce.

Also involved were social organisations like Gayatri Parivar, Indian Medical Association (IMA), Narmada Sewa Samiti, and trusts run by spiritual and religious heads.

ANSWER: Rajkiran Rai G

Explanation:
Union Bank of India announced Rajkiran Rai G has assumed charge as Managing Director & CEO.

Prior to his elevation as MD & CEO of Union Bank of India, Rai was Executive Director of Oriental Bank of Commerce.

He started his career in 1986 as an Agricultural Finance Officer in Central Bank of India.

Rai has been appointed by the government to head Union Bank of India for a period of three years from the date of his taking over charge of the post or until further orders, whichever is earlier.

Syndicate Bank announced Melwyn Rego has assumed charge as Managing Director & CEO.

Prior to joining Syndicate Bank, Rego was MD & CEO of Bank of India.

He started his career with IDBI Bank Ltd in 1984 and rose to the position of Deputy Managing Director.

Rego will be at the helm of the bank till the remainder of the term up to August 13, 2018.

ANSWER: Financial Stability Report 2017

Explanation:
The Reserve Bank of India (RBI) on June 30th 2017 reported ongoing accelerated reform initiatives like goods and services (GST) and continuing political stability will push the economic growth scale.

It will reach 7.3% in terms of gross value added (GVA) in the current fiscal year.

The Financial Stability Report 2017 by RBI bases its optimism to the lower fiscal deficit at 3.2% for this year down from 3.5% in 2016-17.

Other factors are increasing public capex and support to poorer households, small businesses and the rural sector, to oil the economy.

Going forward, reforms in FDI and real estate sector, implementation of GST, and revival in external demand are likely to contribute to a better economic growth outlook.

GVA growth is expected to be higher at 7.3% in 2017-18 as per FSR.

On inflation, CPI inflation is to be in the range of 2-3.5% in the first half of the year and 3.5-4.5% in the second half.

Retail inflation, excluding food and fuel that remained sticky during H2 of FY17 at around 4.9%, dipped to 4.3% in April and 4.2% in May 2017.

This is largely reflecting the impact of decline in global crude oil prices on transport and communication and moderate price pressures in services.

While noting that the fiscal conditions of the Centre is on the mend, it expressed concerns on that of the states.

One is the deterioration in the states’ fiscal conditions and the other is increased leverage of public sector undertakings.

In absolute and relative terms, the size of net market borrowings of the states has been rising sharply, though their market liquidity has not improved commensurately.

This has implications for the further development of secondary market in government bonds, besides periodic redemption pressures.

ANSWER: Missile

Explanation:
India successfully test-fired its indigenously developed quick reaction surface-to-air short range missile (QR-SAM).

The sophisticated missile was test fired from a truck-mounted canister launcher from launch complex-3 at the Integrated Test Range (ITR) at Chandipur.

It was the second successful developmental trial of the state-of-the-art missile with an aerial target.

The first test launch of the missile was conducted in June 2017 from the same base.

Features of the missile

• The QR-SAM has been developed by the Defence Research and Development Organisation (DRDO) and other establishments.
• It has been designed to be a quick reaction missile.
• It is an all-weather weapon system capable of tracking and firing.
• The missile has a strike range of 25 to 30 km.
• It can engage multiple targets.

ANSWER: Preeti Shenoy

Explanation:
Writer Preeti Shenoy in the last week of June 2017 was honoured with the Indian of the Year Award at a function organised in New Delhi.

Shenoy was awarded by Brands Academy, one of the most reputed branding companies in India.

The Award is given to recognise the achievements of personalities who have contributed towards building up the reputation of the country.

Preeti Shenoy is one of India’s top five highest selling women authors.

She has been consistently nominated for the Forbes List of the 100 most influential celebrities in India since 2013.

India Today refers to her ‘the only woman in the highest-selling league.'

She is also a self-taught artist who paints with water colours and oils, and also works with mixed media.

Some well known books she has authored are It’s All in the Planets, Life Is What You Make It, It Happens For A Reason, among others.

ANSWER: Gandhinagar

Explanation:
A record 65 Memorandum of Understandings (MoUs)/agreements was signed on the second day of the Textiles India 2017 in Gandhinagar, Gujarat on 1 July 2017.

Of these 65 MoUs, 62 were signed by the Union textiles ministry and remaining three MoUs were signed by Gujarat government on textile sector.

The Textile Ministry includes MoUs with China, and Bangladesh for silk research, fashion technologies and knowledge transfer.

MoUs were signed between various domestic and international organisations, both private and government-owned.

Three government-to-government (G2G) MoUs were signed as well.

These were signed between the central silk board and department of agriculture of the Gyangxi Zhuang Autonomous Region, China.

They were for the development of improved silkworm breeds and mulberry varieties with the exchange of sericulture genetic materials.

Another MoU was signed between the ministry of textiles and the department of foreign affairs and trade – Australia for textiles and fashion projects.

The third was signed between the National Institute of Fashion Technology and the Bangladesh University of Fashion and Technology to encourage academic cooperation between the two institutes and strengthen academic interventions.

ANSWER: Carrie Lam Cheng Yuet-ngor

Explanation:
Carrie Lam Cheng Yuet-ngor was on 1 July 2017 sworn in as the Chief Executive of the Hong Kong Special Administrative Region (HKSAR).

Lam took her oath before President Xi Jinping, who oversaw the swearing-in ceremony.

With this, Lam became Hong Kong’s fifth Chief Executive since 1997.

She is also the first female to hold the post.

Lam and her Cabinet swore to serve China and Hong Kong and to uphold the Basic Law, the territory’s mini-constitution.

The Members of the Executive Council of the HKSAR were sworn in by Lam thereafter.

As a Chief Executive of Hong Kong, Lam is expected to unify the Chinese-ruled city.

This is even as public resentment swells at Beijing’s growing interference in its affairs despite being promised a high degree of autonomy.

She also has to reinvigorate the economy and address growing social inequalities and high property prices.

Lam was once the most popular official in the cabinet of former Chief Executive Leung Chun-ying, who in 2012 won a similar election restricted to just 1200 voters.

A devout Catholic and a student of sociology at the University of Hong Kong, Lam took part in social activism before joining the government.

ANSWER: RK Pachnanda

Explanation:
Ex Calcutta Police Commissioner RK Pachnanda on 30 June 2017 took over as the Director-General of the Indo-Tibetan Border Police (ITBP).

He was handed over the baton of the about 90000 mountain warfare-trained force by outgoing Director General Krishna Chaudhary.

He is a 1983 batch IPS officer of Bengal cadre.

Presently, he is also serving as the Director General of the National Disaster Response Force (NDRF).

He will continue to hold this position until his successor is appointed.

Pachnanda owns the rare distinction of serving in all the major central paramilitary forces and organisations.

These are including the CRPF, the CISF, the BSF, the Special Protection Group (SPG), the CBI and the NDRF.

He also took charge of the paramilitary force in the backdrop of a face-off between Indian and Chinese troops on the border in Sikkim.

ITBP: Know More

• The ITBP guards the 3488km border with China.
• The border passes through five states – Arunachal Pradesh, Himachal Pradesh, Sikkim, Uttarakhand and Jammu and Kashmir.
• On the Chinese side, the People’s Armed Police, also a paramilitary force, stands as the guards.
• The People’s Liberation Army remains behind this first line of defence.

ANSWER: National Multi Commodity Exchange

Explanation:
National Multi Commodity Exchange (NMCE), India’s first demutualised online national multi-commodities exchange will merge with Indian Commodity Exchange (ICEX).

The merged entity will create India’s third biggest commodity exchange.

The largest commodity exchange by volume is the Multi Commodity Exchange (MCX).

This is followed by National Commodity and Derivatives Exchange (NCDEX).

This is the first merger deal in the commodity exchange space in India.

It has been approved by the boards of both exchanges. It is expected to be completed by December 2017, subject to regulatory approvals.

In the merged entity, the ICEX will hold a 62.8% stake, while NMCE shareholders will own the rest.

The new exchange will offer a wide range of contracts, including bullion, oil, rubber, and other agri-commodities.

It will also offer the world’s first diamond futures contract. This has already received in-principle approval from the marker regulator SEBI.

The merger will help ICEX to further strengthen its position in the country’s fast-growing commodity derivatives market.

It will result in greater financial strength, the consolidation of clients and members, an enhanced product basket, and higher operational synergies.

Commodity trading in India: Know More

• Commodity trading is an exchange where various commodities and derivatives products are traded. Most commodity markets trade in agricultural products.
• They also trade in other raw materials and contracts based on them.
• These contracts can include spot prices, futures, forwards and options on futures.
• Other products may include interest rates, environmental instruments, swaps, or ocean freight contracts. Commodity trading had started in India much before it started in many other countries.
• However, years of foreign rule and Government policies had caused the commodity trading in India to diminish. It was restarted recently.

Indian Commodity Exchanges: Know Morem

• At present, India has six national commodity exchanges namely, Multi Commodity Exchange (MCX), National Commodity and Derivatives Exchange (NCDEX), National Multi-Commodity Exchange (NMCE) and Indian Commodity Exchange (ICEX).
• ACE Derivatives exchange (ACE) and Universal commodity exchange (UCX) are there apart from numerous regional exchanges.
• Government had established regulatory body is Forward Markets Commission (FMC) in 1953.
• It was merged with the Securities and Exchange Board of India (SEBI) in September 2015