Current Affairs Questions & Answers - Nov 15, 2016

ANSWER: All of the above

Explanation:
The new high-security INR 500 notes have been released to banks for distribution on 14th Nov

• As per the central bank statement, the new INR 500 notes bear the signature of RBI governor Urijit Patel
• The note is stone grey coloured and bears year of printing 2016 and the Swach Bharat logo printed on the reverse
• The new 500 note differs from the earlier in size, theme, colour, location of security features and design elements
• It has The Red Fort as an image of the Indian heritage site with the Indian flag on the reverse of it
• The banknote also has other features enabling visually impaired persons to identify the denomination: Intaglio printing of the Mahatma Gandhi portrait, Ashoka Pillar emblem, bleed lines, circle with 500 in the right and the identification mark

ANSWER: 1.2 lakh

Explanation:
GoI on 11th Nov 2016 eased cash-holding limits of banking correspondents and enhanced fund flow to post offices as part of steps to ease liquidity for millions hit by demonetisation of INR 500 and 1000 rupee notes

• Cash holding limits of banking correspondents has been raised to INR 50,000 per day
• Banks have also been given the flexibility to raise the limit further in appropriate cases
• Currently, there are 1.2 lakh correspondents in the country with a rural presence that is strong
• Till now, each of the correspondents had different cash holding limits depending on the rules that banks set
• These correspondents have also been given the right to withdraw funds from respective banks multiple times, rather than only once as previously permitted
• Banking correspondents are those individuals which are empowered by banks to carry out numerous activities such as collecting deposits, exchange of old notes, disbursal of small loans, loan recovery, interest collection, pension products among others
• Likewise, supply of cash to branch post offices will be enhanced with 1.3 lakh branch post offices in India empowered to exchange and collect the the deposits of old demonetised INR 500 and 1000 rupee notes
• Banking correspondents and post office networks have 2.5 lakh banking points, according to the government
• Micro ATMs will also be deployed throughout the nation to dispense cash against credit and debit cards
• Government departments have also been asked to use e-payment systems to ease cash demand
• Task force has been set up under RBI deputy governor to oversee the cash supply situation and the recalibration of arms
• The exemption of using INR 500 and 1000 notes in government hospitals, petrol stations and notified milk vendors has been extended till Nov 24 midnight.
• Many android apps have also come about to deal with the situation like 'How to submit 500, 1000Rs Note' providing details like how to exchange or deposit or submit old notes at petrol pumps, post offices and banks as well as details on the new notes
• Other apps, like 'Change Rs 500, 1000 Notes' give vital information on new notes or share documents like the request slip used in exchanging old notes and answer frequently asked questions.
• There is even a mobile game called Modi Rules with a tag line Let’s kill black money

ANSWER: Both of the above

Explanation:
A controversial and puzzling engine design that could make space travel cheaper and faster may work, according to a new NASA study

• Experimental propulsion system called the EmDrive seems to violate the laws of physics yet generates thrust in a lab test
• The EmDrive has been developed by British researcher Roger Shawyer over a decade ago and generates thrust by bouncing microwaves around inside a cone shaped chamber
• As per Newton’s third law of motion- for every action, there is an equal and opposite reaction- this should not work, because no exhaust is expelled out of the EmDrive system
• Researchers from NASA’s Johnson Space Centre in Houston did measure some thrust
• EmDrive variant produced 1.2 milli newtons of force per kilowatt of energy
• This is about 100 times the thrust of a solar sailing spacecraft which harnesses the momentum of the photons streaming from the Sun
• Much like solar sails, the EmDrive requires no propellant
• This is a spacecraft equipped with a propulsion system to generate microwaves it needs using solar panels
• EmDrive could make space travel cheaper and faster, opening up the heavens to greater exploration
• Further testing is needed to rule out experimental errors

ANSWER: Jawaharlal Nehru

Explanation:
President Pranab Mukherjee and PM Narendra Modi led the nation in paying tributes to the nation’s first Prime Minister Pt. Jawaharlal Nehru on his 127^th birth anniversary

• Tributes to Pandit Jawaharlal Nehru on his birth anniversary were forthcoming from Vice President Hamid Ansari, former PM Manmohan Singh, Congress Vice President Rahul Gandhi and Delhi’s ex CM Sheila Dixit
• Nehru was born to Motilal Nehru and Swaroop Rani on Nov 14, 1889 in Allahabad, UP
• His birthday is celebrated as Children’s Day as he was fond of children
• He remained in office till his death in 1964
• He became the PM when India gained independence on Aug 15, 1947 and remained in office till his death on May 27, 1964
• Shanti Van is the name of the Nehru memorial on the banks of river Yamuna to pay homage to the leader

ANSWER: Both of the above

Explanation:
Following his swearing in as the US President, Trump will convene a special session of the US Congress to repeal and replace Obamacare, a signature healthcare initiative of the outgoing US President Barack Obama

• House and Senate under Republican control have repealed Obamacare many times, but no Republican president so far has taken the next step
• Trump’s healthcare plan is very different from the Affordable Care Act and Obamacare
• A Republican spokesperson said the Trump healthcare plan will let Americans buy healthcare insurance across state lines the way auto insurance and other goods and services are purchased
• This would block Medicaid to the states
• It would create health savings accounts to individuals which is a free market solution working well in the private sector
• The Obamacare penalty will also be eliminated through the tax reform

ANSWER: Small card with nuclear code

Explanation:
On Trump’s first day in Office, he will be handed the nuclear biscuit. This is a small card with the codes needed to talk to the Pentagon war room for identity verification in the event of a national security crisis

• Presidents have chosen to keep the biscuit on them, not always with positive results. For example, Jimmy Carter left them in clothes sent to dry cleaners, whereas Bill Clinton lost the wallet containing the biscuit
• Others have chosen the option of keeping the card in a briefcase called the nuclear football together with the manual containing US war plans for differing contingencies and one on the continuity of the government and where to go to ensure executive authority survives a first nuclear strike
• Biscuit and football symbolise the immense fire power that will be in Trump’s hands.Trump has been called a “loose cannon” by political opponents at the time of the elections and has also asked why nuclear weapons cannot be deployed
• The football contains a list of strike options, the location of secure bunkers where the president can be sheltered, instructions on how to use the Emergency broadcast system and a 3 by 5 inch card with authentication codes for the president to verify it is him or the biscuit
• After initiating military actions, the president convenes a conference with military and civilian advisers in Washington if travelling the President is on a secure line. If enemy missiles are headed towards the US and the president must order a counterstrike, the consultation may just last 30 second
• 5 military aides share the responsibility of carrying around a briefcase that contains a top-secret manual with instructions on how to launch nuclear weapons.
• The briefcase follows the president literally everywhere, so that he or she would have access to it at any point in time.
• The president also carries a card at all times that contains the verification codes necessary to put the instructions on the manual into motion.
• Over 15,000 nuclear weapons currently exist in the world
• The Federation of American Scientists has estimated that close to 15,350 nuclear weapons exist in the world today
• Of these, roughly 93 percent of them belong to US or Russia
• Weapons are created, tested and stored all over the US
• The US has a first strike policy regarding nuclear weapons
• The first strike policy means the US could activate nuclear weapons against another country without being attacked first
• Situations where warheads could be used include North Korea and Iran

ANSWER: Put it in a blind trust

Explanation:
Donald Trump has decided to deal with his billions in business assets in a way that has critics talking.
The president elect has decided to put his money in a Blind Trust

• Trump says he is worth USD 8 billion; Fortune magazine pegs the amount at USD 3.7 billion
• Donald Trump’s business is made of 500 companies around the world, with more than 250 bearing his name
• It is being said that this creates a conflict of interest
• He has decided to set up the blind trust because then he has no decision making or involvement in the business, Rudi Giuliani said
• On the campaign trail, Trump said he would turn over his business interests to his children, if elected
• Trump’s decision to leave his children to control what he labeled a blind trust has another conflict of interest now
• Donald Jr, Ivanka and Eric will also serve on Trump’s presidential transition team executive committee
• The trio will now have inputs about who Trump will pick for key administration posts
• The lines between Trump and his money are now clearly fuzzy, say critics
• Bridging the gap between businessman and politician will be easy for Trump with his children in control in both realms
• Trump’s children will also have control over people making the decisions that could affect his multi billion dollar fortune