Current Affairs Questions & Answers - June 14, 2016

ANSWER: Scheme for Sustainable Structuring of Stressed Assets

Explanation:
RBI has released a paper on stressed assets called Scheme for Sustainable Structuring of Stressed Assets. The aim of this paper is strengthening the ability of lenders to deal with stressed assets and place real assets back back on track by providing avenues for reworking financial structure of entities facing genuine difficulties.

• RBI will facilitate the resolution of large accounts which meet specific criteria. Accounts facing severe financial difficulties may be put for restructuring or write down or larger provision can be allowed as well.
• Paper describes resolution plans to be implemented for debt servicing.
• Overseeing Committee will also be formed by the Indian Banks Association in participation with the RBI for choosing stressed assets cases.
• Paper also mentions certain guidelines for choosing accounts falling under it.
• Accounts that have commenced commercial operations and projects in which institutional investors will have exposure of more than INR 500 crore are concerned.
• Amount will include any accrued sustainable debt and paper goes on to define sustainable debt when Joint Leaders Forum or consortium of financial institutions believe existing loan can be serviced or retained at the existing level.

ANSWER: All of the above

Explanation:
Cooperation between India and the EU will facilitate political dialogue and bring forth best practices and business solutions for clean energy projects, especially in the farm sector. The partnership between India and the EU will facilitate policy dialogue and financing models for clean energy and climate change.

• AgDSM or Agriculture Demand Side Management adopting technologies to boost efficiencies was organised by FICCI and European Commission.
• European Investment Bank has provided loans for more than euro 1.2 billion to support implementation of energy and climate related projects in India. EU was closely involved in developing offshore wind, solar parks and energy efficiency in India.
• Agriculture uses 18 percent of the electricity consumed in the country and tackles energy security to implement climate commitments and ensure food security with water challenges.
• EU has therefore brought policy and financial experts as well as the European Business to India offering concrete solutions in this regard.
• On account of agricultural needs, close to 0.25 to 0.5 million new pump sets are being annually added
  These high efficiency pumps will save 25-30 percent energy and industry has sufficient dumpsites to supply but there needs to be work for the adopting of these pump-sets.

ANSWER: Eubrontes Gleneronsensis Theropod

Explanation:
Geologists have found footprints of Eubrontes Gleneronsensis Theropod dinosaurs in Jaisalmer district- these fossilised prints are 150 million years old. Dr. Suresh Chandra Mathur, a professor in the geological department of Jainarayan Vyas University comprehends that they can help scientists understand the reason behind the disappearance of dinosaurs.

• Around 66 million years ago, a mass extinction wiped out massive reptiles and reasons behind the extinction that were not known till now.
• In 2010, the international scientific panel reported support for the hypothesis that the extinction occurred when asteroid of 10 km width hurtled into the sea of the Yucatan Peninsula in Mexico.
• This sends an extraordinary amount of ash into the atmosphere and lowered temperatures.
• It is unclear whether extinction happened following the impact or before it.
• Three years later, researchers from University of California, Berkeley dated the impact with more precision than before.

ANSWER: Birds

Explanation:
Scientists have been baffled by the smarts displayed by birds with tiny brains and birds have more densely packed neutrons than other animals indicating cognitive ability on par with that of primates.

• A macaw’s brain can be the size of a shelled walnut, smaller than that of a macaque monkey which has a brain the size of a lemon.
• Parrots have far more neutrons than either in the forebrain.
• Researchers were the first to measure neutrons in 20 bird species ranging from the tiny finch to the 1.8 m emu.
• Parrots and crows have cognitive abilities akin to those of primates.
• Birds can make certain tools and use them to obtain food and deal with other problems
• Birds especially songbirds and parrots have a large number of neutrons in their pallium explaining why it supports higher cognitive functions such as planning for the future or finding patterns.

ANSWER: Kepler 1647 b

Explanation:
Astronomers have discovered largest planets outside our solar system orbiting two stars, at a distance indicating potential habitability for people.

• Group of NASA astronomers have made the discovery using the Kepler space telescope revealing the finding at a meeting of the San Diego American Astronomical Society.
• The gaseous planet dubbed Kepler 1647 b is the size of Jupiter and has a wide orbit around two stars in 1107 days or around three years.
• Discovery is the eleventh of its kind since 2005
• Planets that orbit these two stars known as circumbinary planets are called Tatooines after a fictional planet in Star Wars where Luke Skywalker was raised.
• Kepler- 1647b is further from the two stars than any other known circumbinary planet, placing the planet in an orbit that places the planet within the so called habitable zone.
• This would make the planet neither too hot nor cold for human habitation and water is prevalent in liquid form
• Kepler 1647b is gaseous indicating possibility of life to be slightly unlikely though any large moons orbiting the planet could host life.
• Astronomer Laurance Doyle of the SETI institute first noticed Kepler-1647 b’s transit in 2011 Business.

ANSWER: Microsoft

Explanation:
Microsoft is set to acquire LinkedIn for $26.2 billion in an all-cash deal, billed as one of the largest such pacts in the global social media space. The social media site has 10 percent of over 430 million users in India. It will retain distinct brand, culture and independence according to company and Jeff Weiner will remain the CEO of LinkedIn.

• Microsoft will pay $196 per LinkedIn share a 50 percent premium to LinkedIn's closing price on June 10.
• The news brought cheer for LinkedIn as shares jumped 48 per cent to $194.35 on Monday. But Microsoft shares fell nearly 3 percent.

ANSWER: Salesforce.com

Explanation:
Cloud computing giant Salesforce.com Inc said prominent computer hacking expert Trey Ford will join the company's Heroku unit as its head of trust, starting on June 13, 2016.

• Ford, 36, told Reuters he will be responsible for cyber security and reliability of Heroku, a cloud-based platform for creating and deploying web software applications.
• Ford previously served as general manager of the Black Hat hacking conference.
• He was also security response manager for Zynga Inc and held positions with cyber security firms including Rapid7 Inc, McAfee and WhiteHat Security.

ANSWER: China Mobile

Explanation:
Nokia has signed a 1.36 billion euro one year framework deal with China Mobile according to the Finnish company.

• This eased fears it would lose market shares while merging with Alcatel Lucent.
• Nokia’s network equipment sales fell more than expected in the first quarter as buyers were held off due to Alcatel integration process.
• 4G LTE will be the fastest deployed technology in India released by Nokia.
• Nokia brought Alcatel-Lucent in an all share deal worth 15.6 billion euros.
• Deal has helped it to compete with Sweden’s Ericsson and China’s Huawei in both fixed and mobile network equipment.
• Company is expected to cut 10,000 to 15,000 jobs on an international scale or 14 percent of its workforce.

ANSWER: Tata CLiQ

Explanation:
Microsoft has announced the launch of Microsoft Online store with Tata CLiQ, a new e-commece portal of TATA group. Website will see Microsoft products such as tablets, PCs and phones on the platform.

• TATA CLiQ follows a quasi digital model where products will be delivered from physical stores of retail outlets of TATA group such as Croma, Titan, Westside etc.
• TATA CLiQ is pioneering the phygital (physical +digital) revolution in India.

ANSWER: Shiv Nadar University

Explanation:

• According to a statement issued on June 13, 2016, Dell and Shiv Nadar University have signed an agreement to drive partnership in research and innovation.
• As part of the agreement, Dell will engage with faculty members to meant students and work on technology projects in areas such as big data and cloud computing as well as IoT.

ANSWER: Future Group

Explanation:
Central Mall, the leading lifestyle retail brand from Future Group, has joined hands with the largest independent mobile payments company in India, MobiKwik to build India's first chain of cashless malls. 32 Central Malls in 20 cities go cashless from June 13, 2016, and will accept MobiKwik for payments.

• MobiKwik has the highest reach in offline cashless payments and has over 30 million users currently.
• This partnership further supports MobiKwik's retail expansion strategy and the vision to ensure ubiquitous adoption of mobile wallets.
• MobiKwik, is India's largest independent mobile payments network, connecting 30 million users with 100,000 retailers.
• Founded in 2009 by BipinPreet Singh and UpasanaTaku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway and Cisco Investments. MobiKwik aspires to be the largest source of digital transactions in India.

ANSWER: Stan Larkin

Explanation:
Without a heart to pump oxygenated blood around the body, you die pretty quickly. Transplants though, are hard to come by, which is why scientists are looking into using CRISPR to allow pigs to host human-like hearts.

• In the meantime, however, one 25-year-old man has proved that it's possible to live over a year while literally heartless.
• Stan Larkin went a massive 555 days wearing an 'artificial heart' backpack, which filled in after his ticker was removed while he awaited a transplant donor.
• While implantable defibrillators and similar technology can assist with partial heart failure, this device - known as Syncardia - is designed to be used when both sides of the heart fail.

ANSWER: 3

Explanation:
Though symbolic in nature, the pacts came during the first ever visit of President Pranab Mukherjee to the country.

• Ghana is the first country visited by the President during the six-day African tour which commenced on June 12, 2016.
• The other two include yet another maiden trip by a President to Ivory Coast and to Namibia after a gap of two decades.
• The three agreements signed with Ghana, after delegation level talks between Mr. Mukherjee and his Ghanaian counterpart John Dramani Mahama, included one for visa waivers for holders of diplomatic and official passports and one for setting up a Joint Commission.
• India is the largest foreign investor in Ghana today, with more than 700 projects. More than 222 of these projects are in the manufacturing sector.

ANSWER: One Third

Explanation:
Global Nutrition Report: India has 1/3rd of 159 million stunted children in the world below 5 years of age. India has curbed stunting over the previous decade, but the growing number of diabetes patients means that India has become a centre for overweight people.

• Though still home to one-third of the world's 159 million stunted children aged below five years, India has witnessed a sharp decline in the prevalence of stunting, from 48% in 2006 to 38.7% in 2014.
• According to the latest estimates of the World Health Organization, the number of Indians with diabetes doubled from 32 million in 2000 to 63 million in 2013, and is projected to balloon to 101.2 million in the next 15 years.

ANSWER: Saina Nehwal

Explanation:
Ace Indian shuttler Saina Nehwal on 12 June 2016 won the women’s title of the Australian Open Super Series Badminton tournament.

• In the final match played at Sydney, Saina defeated Chinese Sun Yu 11-21, 21-14, 21-19.
• With this win, she also pocketed a cheque of 56250 US dollars.
• This was first title of year 2016 for 29-year-old Saina and second Australian Open title of her career. She won her first Australian Open title in 2014.

ANSWER: Achyut Lahkar

Explanation:
Noted playwright and actor Achyut Lahkar, doyen of Assam’s mobile theatre movement, passed away on 12 June 2016 following a protracted illness. He was 85.

• Lahkar was the pioneering dramatist, veteran actor director and producer who staged numerous memorable plays in mobile theatre.
• Born in 1931, Lahkar, a theatre enthusiast from his childhood days.
• He founded Nataraj Theatre, the first Mobile Theatre Company of Assam in 1963 which performed across Assam and in other states for nearly 40 years.

ANSWER: Donald Carr

Explanation:
Donald Carr, the former captain of England Cricket team, died on 12 June 2016. He was 89. Beside prominent batsman Carr was also one of the most prominent administrators of the post-war era.

• His first-class career spanned from 1945 to 1968 in which he scored nearly 20000 runs and claimed 328 wickets with his left-arm spin for Oxford University, Derbyshire and England.
• He captained England at Madras in 1951-52 in his second and final appearance and retired form cricket in 1986.
• He has also been named Wisden player of the year.

ANSWER: BeiDou Navigation Satellite System

Explanation:
China on 12 June 2016 launched its 23rd satellite it the BeiDou Navigation Satellite System (BDS). The satellite launched from the Xichang Satellite Launch Center in southwest China's Sichuan Province will support China’s global navigation and positioning network.

• The satellite was taken into orbit by a Long March-3C carrier rocket. It was the 229th launch of the Long March carrier rocket.
• It is being developed as an alternative to US GPS.
• Satellite after entering the designed work orbit and finishing in orbit testing will join others in orbit.

ANSWER: Deforestation

Explanation:
Norway in the first week of June 2016 became the first country to prohibit deforestation. On 26th May 2016, the Norwegian Parliament has pledged to ensure government’s public procurement policy is deforestation free.

• This was taken by the government to ensure the parliament will no longer award government contracts to companies that cut down and destroy forests.
• Norwegian lawmakers have committed to find a way to source essential products such as palm oil, beef and timber so there is little impact on the ecosystems.
• Norway has pledged to do that at the UN Climate Summit in 2014 as well.
• A natural rainforest emits and absorbs vast quantities of CO2 and is also called the lungs of the earth.
• They also help to maintain the water cycle.

ANSWER: Purulia

Explanation:
The Indian unit of search giant Google Inc and Tata Trusts launched 'Internet Saathi' program in West Bengal.

• The initiative will roll out from West Bengal’s Purulia district and will focus on training women and larger communities in the state to learn and explore various uses and benefits of the Internet.
• Launched in July 2015, the program has trained and benefitted over 2 lakh women across villages in Rajasthan, Gujarat, Jharkhand, Andhra Pradesh and Madhya Pradesh.
• The 'Internet Saathi' initiative is part of Google’s `Helping Women Get Online’ campaign, which is designed to create awareness about the benefits of Internet among women in rural India.

ANSWER: Per Gustaf Lodin

Explanation:
High ranking Swedish military official will be the new head of the UN mission tasked with monitoring the ceasefire between India and Pakistan in J&K.

• Major General Per Gustaf Lodin, 59, also a logistics expert, was appointed by UN Secretary-General Ban Ki-moon as the Chief Military Observer and Head of Mission for the United Nations Military Observer Group (UNMOGIP) in India and Pakistan.
• Maj Gen Lodin succeeds Major General Delali Johnson Sakyi of Ghana, who completes his two-year assignment as Chief Military Observer and Head of Mission for the UNMOGIP on July 2.

ANSWER: Axis

Explanation:
Axis Bank has raised $500 million at the London Stock Exchange after it launched India’s first internationally-listed certified green bond to finance climate change solutions around the world.

• One of India’s leading private sector capital markets banks opened trading at the London Stock Exchange (LSE) with the bond, which is certified by the Climate Bonds Standards Board and raised $500 million.
• Axis Bank said the proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.
• This is the first green bond for Axis Bank within its $5 billion Medium Term Note (MTN) programme, which has also listed entirely on LSE.