Current Affairs Questions & Answers - Oct 29, 2016

ANSWER: Futures

Explanation:
The Reserve Bank of India relaxed guidelines on what the domestic interest rate futures can be offered on 28th Oct, 2016.

• This permits banks to hedge their short-term interest exposure.
• Till now, the banks could not hedge their interest rate risk on active government bond benchmarks other than 91-day treasury bills.
• Registered exchanges can select the underlying instrument or interest rate of new contracts subject to RBI approval, according to the central bank circular.

ANSWER: DGFT

Explanation:
GSTN has inked a pact with DGFT for sharing forex realisation data with the aim to strengthen processing of exports transactions of GST taxpayers.

• The Goods and Services Network has signed an MoU with the commerce ministry for sharing of foreign exchange realisation and import-export code data.
• The move can strengthen processing of export transactions of taxpayers under GST, lower human interface and increase accountability.
• GSTN is a not-for-profit non-government private limited company promoted by the central and state government with specific mandate to create the IT infrastructure and the services required for implementing GST.
• MoU was signed whereby the electronic bank realisation certificate captures transaction level detail of the foreign exchange realisation in India.
• The electronic Bank Realisation Certificate project implemented by DGFT created an integrated platform for receipt, processing and use of all bank realisation related information by banks, central and state government departments and exporters.
• The project enabled banks to upload foreign exchange realisation information subject to exports on the DGFT server under a secured protocol.

ANSWER: Swift

Explanation:
A small, dark feathered bird called the common swift flies for 10 months on end without ever landing.

• This marks the longest time spent aloft of any known bird.
• The findings reported by scientists confirm the 46 year old hypothesis first offered by British researcher Ron Lockley.
• The research had theorised that the birds spent most of their lives in air.
• Tiny backpacks were fitted on 13 of the brownish black birds, weighing only one gram.
• These micro data logs recorded whether birds were in the air or not, their acceleration and where they had been given at any time.
• When the common swifts leave their breeding site for migration to Central African forests via West Africa, they never touch the ground till they retire for the next breeding season 10 months following this.
• While some birds may roost for brief periods or spend entire nights in mid-winter resting, others never landed during the period.
• For those who did stop, it was done briefly and close to 99.5 percent of the 10 months were spent in air.
  The birds catch food while in flight.
• They may also sleep when flying to high altitudes form dawn to dusk and slowly descend.
• During the day, energy is saved by gliding in the upward currents of warm air.
• This discovery pushes boundaries for animal physiology.
• A 10 month flight phase is the longest of any bird species and it’s a record.
• Other kinds of birds such as frigate birds are known to sleep while gliding.

ANSWER: Ross Sea

Explanation:
A landmark global agreement has created the world’s largest marine park in the Southern Ocean has been brokered in Australia, following five years of compromises and failed negotiations.

• More than 1.5 sq km of the Ross Sea around Antarctica will be protected under the deal brokered between 24 nations and the EU.
• It means 1.1 sq km of it– an area around the size of France and Spain combined– will be set aside as a no-take general protection zone where no fishing is permitted.
• The protections are set to expire in 35 years.
• Agreement came towards the end of 2 weeks of discussion between delegates from 24 countries and EU in Hobart at the annual Commission for the Conservation of Antarctic Marine Living Resources.
• This is also the first marine park created in global waters and will set a precedent for further moves to help the world attain the IUCN’s recommendations that 30 percent of the world’s oceans have to be protected.
• The Antarctic protection has been sought because of the vital importance of the Southern Ocean to the world’s natural resources.
• Scientists have estimated that the Southern Ocean produces 3/4th of the nutrients that sustain life in the remaining oceans of the world.
• The region is home to many of the world’s penguin and whales.
• Ross Sea is a deep bay in the Southern Ocean many have considered the intact marine ecosystem on Earth.
• This is a living lab ideally suited for studying the life in the Antarctic and how climate change affects Earth.

ANSWER: Both of the above

Explanation:
Plants know when to start growing leaves or flowers after winter, thanks to a thermometer molecule that enables plants to develop as per seasonal temperature changes.

• As nights get warmer, sensors throw genetic switches that kick off growth.
• University of Cambridge researchers have found that molecules called phytochrome are used by plants to detect light at the time of the day.
• They change their functioning in the darkness to become temperature gauges that measure the heat of the night.
• At night, the molecules change states and the pace at which they change is proportional to temperature according to scientists who compare phytochrome to mercury in a thermometer.
• The warmer it is, the faster the molecular change-stimulating plant growth.
• Farmers and gardeners have been aware of how responsive plants are to the temperature and warm winters cause many trees and flowers to blossom early.
• This is something humans have been used to predict weather and harvest times for the coming year.
• The most recent research indicates that the molecular mechanisms in plants react to temperature often triggering the spring.
• Some species such as daffodils have massive temperature sensitivity and can flower months in advance during the warm winter.
• With weather and temperatures set to become unpredictable due to climate change, the discovery that this light sensing molecule moon lights as an internal thermometer in plant cells could help in breeding tougher crops.
• The work was done in a model system, a mustard plant called Arabidopsis.
• Phytochrome genes ensure temperature sensing are found in crop plants as well.
• In their active state, phytochrome molecules bind themselves to DNA to restrict plant growth.
• During the day, the sunlight activates the molecules, slowing down growth.
• If the plant finds itself in a shade, phytochromes are inactivated enabling it to grow faster to find sunlight again.
• This ensures that the plants compete to escape each other’s shade.
• Light driven changes to phytochrome activity occur fast in less than a second.
• Molecules change from active to inactive state called dark reversion.
• Warmer temperatures speed up dark reversion so that phytochrome rapidly reaches an inactive state and detaches themselves from DNA permitting genes to be expressed and plant growth to resume.

ANSWER: LGBT

Explanation:
The World Bank has appointed its first adviser tasked with promoting the lesbian, gay, bisexual, transgender and intersex issues in its development work.

• This newly created senior position is part of the bank’s efforts to solidify commitments for researching and curbing discrimination against LGBTI persons across the 136 nations where it has offices.
• The initiative by the poverty-fighting institution comes at a time when discrimination against LGBTI people is facing increased scrutiny internationally.
• The bank, which makes loans in developing countries and conducts research has named Clifton Cortez to fill the position.
• Following two decades of experience in development, Cortez has managed partnerships for the United Nations program on HIV-AIDS, UNAIDS.
• In recent years, the bank’s research has increasingly turned to economic impact of discrimination on LGBTI persons.
• This year, the Washington DC based organisation has been collecting data on the economic and social status of LGBTI persons worldwide and launch several research projects on LGBTI persons.
• The World Bank’s announcement came after USAID publicised a new rule barring foreign aid contractors from discrimination against LGBTI persons in the service it funds.
• The UN appointed its first independent investigator to help protect the community worldwide from discrimination and violence.
• An UN report in 2015 indicated many LGBTI people have been killed in thousands in recent times and violence included rape, abuse, knife attacks and mutilation.

ANSWER: Gold coins

Explanation:
A unique automatic telling machine by an online jewellery company BlueStone on the occasion of Diwali dispensed gold coins in exchange for accepting money from users.

• This experiment has been initiated by the company and a frequent ATM user can operate it without any hassles.
• It is simple and easy because customers have multiple options to pay the amount.
• Users can either pay by cash/card/debit card.
• Gold coins can be had weighing one-20 grams at market rates.
• Prices are competitive in sync with gold prices currently.

ANSWER: None of the above

Explanation:
India has named Ajay M. Godane as the next High Commissioner to Australia.

• He is from the Indian Foreign Service Batch 1985 and is expected to take up assignment shortly.
• Gondane’s appointment was announced after Navdeep Suri, the current HC was appointed to UAE as the Indian Ambassador.
• Dr Gondane has previously served as Deputy Consul General CGI, New York and as High Commissioner of India to Papua New Guinea.
• Australia is officially known as the Commonwealth of Australia- it comprises the mainland, the island of Tasmania and numerous small islands.
• It is the world’s sixth largest country by total area.
• The neighbouring countries are Papua New Guinea, Indonesia, and East Timor to the north; the Solomon Islands and Vanuatu to the north east and New Zealand to the south east.
• Australia’s capital is Canberra and its largest urban area is Sydney.
• It has ranked second highest on the HDI index and is the world’s 13th largest economy and ninth highest per capita income.
• It is a member of the UN, G20 and several other regional and international groupings.

ANSWER: NIA

Explanation:
Government of India on 28th Oct have a second extension of one year to senior IPS officer Sharad Kumar as the DG of anti-terror probe agency National Investigation Agency.

• The ACC of Cabinet approved the proposal for the reappointment of Kumar to the post of DG for one year beyond the end of the previous one year.
• In the limelight for its role in terror investigations, this terror agency has monitored the Pathankot terror case, Uri attack in Kashmir, Burdwan blast case, Samjhauta blast case and capture of Indian IS terrorists.
• Kumar is an IPS officer of Haryana cadre of the 1979 batch.
• He was appointed Chief of the NIA on July 30, 2013.
• He is currently the longest serving chief of the agency formed post 26/11 Mumbai attacks Sports.

ANSWER: Germany

Explanation:
Germany’s Angelique Kerber was awarded the WTA Year End World Number 1 award in Oct 2016.

• The German professional tennis player has ranked no.1 worldwide in the women’s singles tennis by the WTA.
• She debuted professionally in 2003 and rose to prominence upon reaching the semifinals of the 2011 US Open at which time she was ranked 92 in the world.
• She achieved a career high ranking of World No1 on Sept 12, 2016 becoming the 22nd and oldest player to achieve world number 1 ranking for the first time.
• She also won the Olympic silver medal while representing Germany at the 2016 Summer Olympics.
• She has won 10 singles titles so far.