Current Affairs Questions & Answers - Oct 24, 2015

ANSWER: Both of the above

Explanation:
RBI has allowed lenders to count short term bullion deposits under the gold monetisation scheme as part of CRR or SLR. This will increase the appeal of the plan for this sector. This measure is part of RBI guidelines for gold scheme aimed at ensuring Indian households deposit gold at lenders in exchange for interest rate payments. RBI has indicated it will permit banks to take minimum deposit of 30 grams of gold from persons which will be placed in the bullion for a period of one to 15 years. Short term bank deposits will attract CRR and SLR. The stock of gold mobilised as per the scheme by banks will count for general SLR requirement. This will provide additional capital to banks for lending in productive sectors. CRR is the portion of total deposits to be placed with RBI in cash and SLR is the portion of the deposit parked in government securities. Banks have to set aside 4% of total deposit for CRR while 21.5 percent is for meeting SLR requirement. There will be provision for premature withdrawal subject to minimum long in period and penalty will be assessed by individual banks.

ANSWER: 23

Explanation:
Zambia celebrated its independence day on 23rd October 2015. It is a landlocked country in Africa. This is the 51st Independence Day Zambia has celebrated. President Pranab Mukherjee greeted the country on this day.

ANSWER: Dr. S. Basu

Explanation:
Dr. Basu has taken over as Chairman, Atomic Energy Commission and Secretary DAE on 23rd October 2015. Dr. R. K. Sinha remitted his office following superannuation after 42 years of service. Dr. Basu was previously the Director of BARC and has also worked as Project Director of Nuclear Submarine Programme and later as the Chief Executive of the Nuclear Recycle Board in the same institute.

ANSWER: All of the above

Explanation:
9 artistes including Ashwini Bide Deshpande, Iqbal Ahmed Khan, Nath Neralkar, Nayan Ghosh and Ronu Majumdar received awards for their contribution to music while eight eminent dancers were also honoured. A total of 35 Indian personalities were conferred the Akademi awards. Other winners include folk singer Abdul Rashid Hafiz and noted playwright Asgar Wajahat. The awards carry a cash prize of INR 1 lakh.

ANSWER: Murugappa

Explanation:
Industrialist A. Vellayan has resumed charge as Chairman of Murugappa Group following 5 months after stepping aside from the post after regulatory authority had placed insider trading charges against him. Following the assessment of ongoing proceedings against alleged insider trading after expert legal advice on this matter, he was reappointed. Vellayen has stepped aside as Chairman of Murugappa Group and two group firms, Coromandel International and EID Parry.

ANSWER: All of the above

Explanation:
Noted Marathi writers Ganesh Visputay, Sambhaji Bhagat and Pradnya Pawar are among a group that returned their awards on 23rd October to the Mantralaya. The writers also urged others to join the stir to protest against the Dadri lynching. Pawar, an ex member of Maharashtra State Literary and Cultural Board has handed back 5 awards. The protest was also launched against the murder of rationalists. Condemning the killing of writer Kalburgi, Sahitya Akademi has appealed ed to writers to stake back their resignations.

ANSWER: Capital

Explanation:
Department of Heavy Industry in consultation with bodies and associations drafted a National Policy on Capital Goods. This marks the first time a policy on Capital Goods is being put together. This is the most important sector for attaining the vision of Make in India. National Policy on Capital Goods seeks to set up India as a manufacturing major in the world.

ANSWER: Both of the above

Explanation:
Scientists have for the first time developed a means to determine presence of strong magnetic fields inside pulsating giant stars through a technique associated with medical ultrasound. Magnetic fields have important consequences in all phases of stellar evolution from the formation of the star to its demise. Researchers have used asteroseismology similar to seismology for tracking waves travelling through stars to determine inner properties. Technique uses sound waves to image invisible parts of the human body.

ANSWER: Tortoise -Chelonoidis donfaustoi

Explanation:
A group of Ecuadoran and international scientists have on 24th October 2015 identified a new giant tortoise species on Galapagos Islands. There are currently only few 100 members of the new species. Two giant tortoise populations were thought to be of the same species but genetic tests showed a difference. The new species has been named Chelonoidis donfaustoi after Fausto Llerena, caretaker of Lonesome George who is the last known survivor of his species.

ANSWER: Eros Now

Explanation:
Online entertainment platform ErosNow has tied up with MSO cable and broadband service provider Ortel Communications for subscription based movie streaming service referred to as Ortel Broadband Movies. Orel Communications is a cable television and high speed broadband service provider associated with Odisha, AP, MP, WB and Chhattisgarh. Partnership allows Ortel Communications to stream movies from the bast library that enabled broadband users to access content across numerous platforms. Subscription based service will be available for Ortel Broadband customers with free subscription for ErosNow.

ANSWER: Bank of Maharashtra

Explanation:
Paytm, leading commerce and mobile payment platform has tied up with Bank of Maharashtra to offer mobile wallet top up facility via bank ATMs. Facility aims at assisting Bank of Maharashtra customers with debit cards to top up Paytm Wallet through 1800 ATMs in the Bank. Facility will be extended to larger number of banks in the future. This is the first of its kind wallet top up feature through Bank ATMs which is bound to make transactions easier and accessible to all.

ANSWER: Interest

Explanation:
RBI on 24th October 2015 has issued guidelines for Gold Monetisation Scheme that permits banks to fix their own interest rates on gold deposits. RBI notification comes ahead of formal launch on scheme by PM Modi. Gold deposit scheme is aimed to mobilise 20,000 tonnes of idle precious metals with households and institutions. According to guidelines for Gold Monetisation scheme,banks can set interest rates on such deposits and principal and interest of deposit will be denominated in gold. Redemption of principal and interest at maturity will, at the option of the depositor will be in Indian rupees equivalent of the despoiled gold and accrued interest based on gold price prevailing at time of redemption or in gold. Option in this regard will be made by depositor at time of making the deposit and should be irrevocable. Interest will be credited in deposit accounts on respective due dates and can be withdrawn on a periodic basis or at maturity as per deposit terms. Designated banks will accept gold deposits under short and medium as well as long term government deposit schemes.