Current Affairs Questions & Answers - July 19, 2017

ANSWER: Sikh

Explanation:
Britain’s first woman Sikh MP Preet Kaur Gill was elected to Home Affairs Select Committee in the UK Parliament.

She will be one of 11 MPs on the cross-party home affairs committee.

The Home Affairs Select Committee is an influential cross-party panel in the UK Parliament that examines the workings of the Home Office.

It investigates the spending, policy and administration of the ministerial department. The committee chooses its own subjects of inquiry within the remit of the home office.

Previous inquiries have looked at extremism, immigration, hate crime, asylum, drugs, human trafficking, prostitution, extradition, counter-terrorism and the police.

It publishes reports and the Government must respond to its recommendations.

Labour party MP Yvette Cooper was recently elected unopposed as chairman of the committee.

Earlier it was chaired by Keith Vaz, Britain’s longest-serving Indian-origin MP, who had stepped down in September 2016.

Preet Kaur Gill had won the Edgbaston seat for the Labour party in the June 2017 snap general election.

She also has been chosen to lead the All Party Parliamentary Group (APPG) for British Sikhs, which promotes the interests of Sikhs in Britain.

Gill’s whose family is from Jamsher, in Jalandhar, Punjab.

Her father, Daljit Singh, had moved and settled in the UK in 1962.

ANSWER: Rachel Whetstone

Explanation:
Facebook has hired Uber’s former top public relations executive as vice-president of communications for its multiple platforms like Instagram, WhatsApp and Messenger.

Rachel Whetstone, who has worked for some of the Britain’s most powerful Conservative politicians, stepped down as head of public policy and communications at Uber in April following a string of corporate scandals.

Whetstone in her new role at Facebook will oversee communications for Instagram and WhatsApp, which are both owned by Facebook.

Whetstone worked at Google as the head of communications and public policy prior to Uber.

Whetstone left Uber earlier this year amid a number of public relations crises after a former employee’s accusation of sexual harassment stirred a major controversy, surrounding claims of rampant sexism and discrimination within the company.

Ms. Whetstone has not commented on the scandals since she left Uber.

She is a friend of David Cameron and George Osborne.

She served as Howard’s political secretary and was a major player in Conservative politics when the party was up against Tony Blair’s Labour government.

ANSWER: 4th

Explanation:
India is the world’s fourth fastest growing economy in the world thus far in 2017.

That’s according to the World Bank’s latest edition of Global Economic Prospects.

For 2017, India’s economy is expected to advance 7.2%.

That’s slightly above the country’s long-term growth.

GDP Annual Growth Rate in India averaged 6.12% from 1951 until 2017, reaching an all time high of 11.40% in the first quarter of 2010 and a record low of -5.20% in the fourth quarter of 1979.

The Indian economy has benefited from a stable macroeconomic environment of low inflation and interest rates.

This has helped shake off a temporary slow-down in consumer spending and a drop in investment that followed the demonetization program back in November 2016 - which took 86% of the country’s currency out of circulation.

India’s economy has also benefited from ongoing market reforms that have improved competitiveness.

For 2016-17, India scored 4.52 points out of 7, according to Global Competitiveness Report published by the World Economic Forum, slightly above its ten year average of 4.33 points.

That helped the country climb to rise to the position as the 39th most competitive nation in the world out of 138 countries ranked in the report.

The Competitiveness Rank in India averaged 52.73 from 2007 until 2017, reaching an all time high of 71.00 in 2015 and a record low of 39.00 in 2017.

Improved competitiveness, in turn, has helped narrow the country’s current account deficit to 0.70% of the country’s Gross Domestic Product in 2016.

Current Account to GDP in India averaged -1.40 percent from 1980 until 2016, reaching an all time high of 2.28% in 2003 and a record low of -4.80% in 2012.

Financial markets have taken note. The iShares S&P India have gained 20.76 percent over the last twelve months.

ANSWER: Both a and b

Explanation:
India and Sri Lanka signed a MoU to develop Most Ven Maduluwawe Sobitha Thero Village (Elapathagama) in Anuradhapura District on July 14, 2017.

The village will be developed using a grant of INR 300 million from the Government of India.

The project envisages construction of 153 new houses, a multipurpose community building and alms hall, internal water supply system and renovation of Monk’s Quarters & library.

This project is in line with Government of Sri Lanka’s policy of rehabilitation of rural villages for economic development. It will benefit 153 families residing in the village.

Sri Lanka: Know More

• Capitals: Colombo, Sri Jayawardenepura Kotte
• Currency: Sri Lankan rupee
• President: Maithripala Sirisena
• Destinations: Kandy, Colombo, Dambulla, Polonnaruwa
• Official languages: Sinhala, Tamil, English

ANSWER: Dal Lake

Explanation:
J&K Academy of Art, Culture and Languages in association with Tourism Department Kashmir launched a weekly cultural programme series titled “Culture on Cruise” on July 15, 2017 at Dal Lake.

Conceived by JKAACL, the innovative programme series brings writers, performance artists, musicians, poets and academics together and offers a program of performances, workshops, talks, forums and debates.

The organizers will hold regular interactions with cross sections of the society besides Dal dwellers including tourists so as to ensure broader discourse on cultural moorings of the State.

The inaugural programme of the series saw artists Mohammed Yaseen Gundpuri, Mohammed Subhan Shah, and Bashir Kotur perform before a select gathering of audience comprising singers, artists, writers, and poets.

Broadcaster Talha Jehangir anchored the programme.

The Dal Lake thus hosted its first ever ‘Culture of Cruise’, a weeekly cultural programme organised by the Jammu and Kashmir government aimed to bring artists from various fields on one stage.

The innovative programme series brings writers, performance artistes, musicians, poets and academics together and offers a programme of performances, workshops, talks, forums and debates,

Meanwhile, Kashmir Divisional Commissioner Baseer Ahmad Khan announced that water transport for public in the Jhelum river will be free of cost for a period of one month.

The water transport facility will be available from Peerzo to Veir Chattabal and back route in the city. Timing of this free service is 10.00 am to 4.00 pm. Later, these services will be extended to Pulwama, Anantnag and Baramulla.

Sringar Deputy Commissioner Farooq Ahmad Lone directed the authorities to ensure hassle free joy ride to the public on a free first come first serve basis.

He also directed the tourism department to deploy new motor boats for this service so that people do not face any difficulty.

ANSWER: Bharat Arun

Explanation:
Following a recommendation from India coach Ravi Shastri, Bharat Arun has been named the side’s bowling coach.

The appointment came after a meeting between Shastri and a four-member BCCI committee, where it was also decided that Sanjay Bangar will be the team’s assistant coach.

The appointments mean Shastri will work with the same set of coaches - including fielding coach R Sridhar - who assisted him in his earlier tenure as team director.

India’s support staff have all been given two-year contracts, until the end of the 2019 World Cup.

Arun, as a result, will now have to give up his coaching roles in the IPL and the Tamil Nadu Premier League in accordance with the new conflict-of-interest guidelines.

Arun, who has been a bowling coach with Royal Challengers Bangalore since 2015, was recently named coach of VB Thiruvallur Veerans in the TNPL.

Shastri also confirmed that Rahul Dravid and Zaheer Khan will be on board as consultants.

The committee comprising BCCI CEO Rahul Johri (convener), acting board president CK Khanna, acting secretary Amitabh Choudhary, and Diana Edulji, member of the Supreme Court-appointed Committee of Administrators (CoA), was created to resolve the ambiguity over the roles of Dravid and Zaheer.

While the Bcci’s press release on July 11 stated that they were “appointed” overseas Test batting consultant and bowling consultant respectively, CoA chairman Vinod Rai said those were only recommendations that needed action from the CoA “in consultation with the head coach”.

Sourav Ganguly, a member of the Cricket Advisory Committee (CAC) that appointed Shastri, Dravid and Zaheer, was recently quoted as saying that Zaheer was contracted for 150 days a year.

Australia’s Patrick Farhart and Shankar Basu also retained their positions as physio and trainer respectively, for the same two-year period until the conclusion of the 2019 World Cup.

ANSWER: Gopal Prasad Parajuli

Explanation:
The name of acting Chief Justice Gopal Prasad Parajuli was unanimously endorsed on July 16 by the Parliamentary Hearing Special Committee (PHSC) for the post of Nepal's Supreme Court Chief Justice. Parajuli was summoned by the PHSC at its meeting today to conduct the hearing.

Nepal’s President Bidhya Devi Bhandari appointed him to the post, which he will continue to head till April 28 next year.

A 39-point judiciary reform plan was presented by Parajuli during the meeting.

Parajuli’s name was sent to the PHSC for hearing by the Constitutional Council on June 29. P

Parajuli, the senior-most Justice at the Supreme Court, has taken up the responsibility of acting Chief Justice since June 7, this year after the retirement of then Chief Justice Sushila Karki on June 6.

After being sworn in as Nepal’s new chief justice has pledged to make justice delivery fast and less expensive in the country.

Parajuli, 61, was administered the oath of office by President Bidya Devi Bhandari at Rastrapati Bhawan in Sheetal Niwas.

He had taken charge of the Supreme Court as the acting chief justice on June 7 when Sushila Karki, the first female chief justice of the country, retired.

ANSWER: Tata Motors

Explanation:
Auto major Tata Motors today rolled out the country’s first bio - CNG (bio - methane) bus.

The company said the bio-methane engines (5.7 SGI & 3.8 SGI) will be available on light and medium buses.

The company displayed three models, including the lead model Tata LPO 1613 with 5.7 SGI NA BS - IV IOBD - II compliant bus.

The Tata LPO 1613, already in operation by Pune Municipal Transport Corporation, was showcased with bio - methane fuel at the event.

The buses were showcased at the Urja Utsav organised by oil ministry.

Using bio - CNG will contribute in a positive manner to the smart cities to keep them clean and is a good option for wet garbage management.

The bio - methane bus is a step towards developing environment - friendly vehicles.

Bio-methane is produced out of biodegradable materials like kitchen waste. The gas, which gets produced by way of natural degradation process, escapes into the atmosphere unused.

The firm, which is India’s largest commercial vehicles manufacturer, said the bio-methane engines could be used in LCV, ICV and MCV buses.

At the Urja Utsav held in Pune’s Shiv Chhatrapati Sports Complex, Tata displayed three engines, along with the lead model - Tata LPO 1613 with 5.7 SGI NA BS-IV IOBD-II compliant bus.

In the past, Tata Motors has introduced technologies in CNG engines like sequential gas injection technology, skip fire, plug type coils, long life spark plugs and longer oil drain intervals.

ANSWER: Smriti Zubin Irani

Explanation:
With Union minister M Venkaiah Naidu now NDA’s Vice-Presidential nominee, his two ministerial portfolios have been given to Union Ministers Narendra Singh Tomar and Smriti Zubin Irani.

The President has also accepted Naidu’s resignation from the Council of Ministers.

Tomar, Union Minister for Rural Development, shall be assigned charge of the Ministry of Housing and Urban Affairs in addition to his existing portfolios, Textiles Minister Irani shall be given additional charge of the Ministry of Information and Broadcasting.

The additional charges given to Irani and Tomar are temporary arrangements ahead of a Cabinet reshuffle, when these ministries will get full-time ministers.

A number of other ministries also require a reshuffle. Finance Minister Arun Jaitley has been holding additional charge of the Defence Ministry since March after Manohar Parrikar was made Goa Chief Minister.

Union Minister for Science, Technology and Earth Sciences Harsh Vardhan was given additional charge of the Environment Ministry in May due to the demise of Union Minister Anil Madhav Dave.

The BJP-led government has had two reshuffles in November 2014 and July 2016. With less than two years left for this government, many feel that a reshuffle is imminent before the 2019 general elections.

Smriti Irani: Know More

• Smriti Zubin Irani is an Indian politician, former model, television actress and producer. Irani is a Member of Parliament, being nominated to the Rajya Sabha from the state of Gujarat.
• Born: 23 March 1976 New Delhi
• Spouse: Zubin Irani (m. 2001)

ANSWER: Insolvency and Bankruptcy Code 2016

Explanation:
Reserve Bank of India (RBI) has constituted an Internal Advisory Committee (IAC), which arrived at an objective, non-discretionary criterion for referring accounts for resolution under Insolvency and Bankruptcy Code, 2016 (IBC).

In particular, the IAC recommended for IBC reference all accounts with fund and non-fund based outstanding amount greater than INR 5000 crore, with 60% or more classified as non-performing by banks as of March 31, 2016.

Accordingly, Reserve Bank of India has issued directions to certain banks for referring 12 accounts, qualifying under the aforesaid criteria, to initiate insolvency process under the Insolvency and Bankruptcy Code, 2016.

As regards the other non-performing accounts which do not qualify under the above criteria, the IAC recommended that banks should finalize a resolution plan within six months.

In cases where a viable resolution plan is not agreed upon within six months, banks should be required to file for insolvency proceedings under the IBC.

However, the names and details of borrowers are not disclosed as prescribed under section 45E of the Reserve Bank of India (RBI) Act, 1934 and Banking Laws.

These laws provide for the obligation of a bank or financial institution to maintain secrecy about the affairs of its constituents.

In respect of the above-mentioned 12 accounts, Reserve Bank of India has advised the banks to make provisions as under:

(a) 50 per cent for secured portion of the outstanding balance plus 100 percent for the unsecured portion.

(b) Provisions required to be maintained as per the extant Asset classification norms.

The additional provisions, as required in each case, should be proportionately spread over the remaining quarters of the current financial year, starting Q2.

This is so that the required provisions are fully in place by March, 2018.

The effect of the provisioning requirement prescribed in respect of the said 12 accounts would vary for each account and for the respective banks depending upon the current asset classification, current provisions held, security coverage etc.

ANSWER: National Agro-forestry & Bamboo Mission

Explanation:
National Bamboo Mission renamed as National Agro-Forestry & Bamboo Mission (NABM) is being implemented as per the set objectives and targets of the Mission.

As per available reports 3,61,791 ha. area have been covered in forest & non-forest land, 91,715 ha. area taken up for improvement of existing stock for higher productivity (forest & non-forest areas) under the Mission against targets of 3,62,848 ha., 69,410 ha. respectively.

Under the Mission, 108 nos. of markets (Bamboo wholesale & retail markets near villages, etc.) have been established for providing marketing avenues to bamboo farmers for their raw bamboo as well as finished products.

Besides, efforts are being made to popularize bamboo products through participation in domestic/national/international trade fairs.

Under the Mission, Steps have already been taken & are being taken to provide assistance to farmers/bamboo growers for nursery establishment.

Also on the anvil are plantations in non-forest area, imparting training for preparation of nurseries & bamboo plantations, establishing of bamboo markets for farmer products, etc.

Bamboo: Know More

• Scientific name: Bambusoideae
• Higher classification: Grasses
• Family: Poaceae
• Kingdom: Plantae
• Rank: Subfamily Bamboo’s roots helps to prevent soil erosion through rain water run-off

ANSWER: None of the above

Explanation:
India participated in the fourth Joint International Taskforce on Shared Intelligence and Collaboration (JITSIC) meeting reconvened in Paris to pursue the work on the Panama Papers in the last week of June 2017.

Based on legal instruments under the OECD and Council of Europe Multilateral Convention and tax treaties, a number of countries shared information in confidential Competent Authorities sessions, on structures that facilitate, enable and promote tax avoidance / evasion.

India also shared its experience in this regard.

Demonstrating the value and strength of JITSIC, 30 project participant countries have continued to exchange, analyse and act on information about taxpayers and intermediaries connected to Mossack Fonseca.

In the past six months, more than 570 requests for information have been sent to 32 countries.

India has also sent several requests for information to various jurisdictions in the Panama Paper cases since the last meeting in January 2017.

JITSIC members have established the capability to allow for fast, effective and coordinated multilateral responses to any future data leaks and are sharing the same.

JITSIC will continue to identify more arrangements as countries continue their investigations and share intelligence and new data comes to light.

Collaboration with JITSIC has been useful for India in its fight against offshore tax evasion.

ANSWER: SBI

Explanation:
India’s largest commercial bank State Bank of India (SBI) on Tuesday said it has launched a dedicated portal ‘SBI Realty’.

This will help home buyers to choose flats from its 3,000 approved projects across the country, which are spread across 13 states and Union Territories covering 30 cities.

State Bank of India has taken another step towards customers’ convenience by launching ‘SBI Realty’ - a one stop integrated website www.sbirealty.in for home buyers.

At present, there are 9.5 lakh home units available on the website. Customers can compare current and past trends of prices for the properties in various localities in the city.

The portal will assist customers in calculating appropriate loan amount a customer should borrow based on income and credit profile.

SBI believes in innovation combined with an emphasis on market research, contemporary architecture, strong project execution and quality construction.

The SBI Realty website has been developed by SBICAP Securities in association with PropEquity in terms of data support, project information, etc.

SBI: Know More

• SBI is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees.
• The company has a deposit base of Rs 25.85 lakh crore.
• It has an extensive network, with over 24 thousand branches in India and 194 offices in 35 other countries.