Current Affairs Questions and Answers - August 07, 2015

ANSWER: C. On this day, the Swadeshi Movement was launched in 1905.

The date 7th of August has been chosen due to its special significance in India`s history. On this day, the Swadeshi Movement was launched in 1905. The movement involved revival of domestic products and production processes.

ANSWER: A. Egypt

The project being carried out at a cost of 8.5 billion dollars extension of the waterway is funded entirely by Egypt without foreign aid. The extension involved digging and dredging along 72 kilometers of the 193 kilometer canal, making a parallel waterway at its middle that will facilitate two way traffic accommodating the world's largest ships.

ANSWER: D. Russia

NASA further said a lack of funding for development of private vessels by US companies Boeing and Space-X over the last five years has left NASA with no other option. As a result, the US will pay for use of space vessels belonging to the Roscosmos-Russian Space Agency.

ANSWER: A. Museums as Civic Spaces

The President of India, Shri Pranab Mukherjee inaugurated an International Conference on ‘Inclusive Museums’ at Rashtrapati Bhavan on 6th Aug’15.

ANSWER: C. 157

The 53-member Indian Police team has returned with a record-breaking haul of 157 medals including 88 Gold, 49 Silver and 20 Bronze medals. The tally of 157 medals is the biggest harvest of medals and at these prestigious Games has broken the record of 2013 World Police & Fire Games held at Belfast (Northern Ireland) wherefrom Indian Police team had come back with 48 Gold, 22 Silver and 13 Bronze medals (total 83 medals).

ANSWER: D. BSNL

This will help BSNL to realign its structure in the highly competitive telecom sector. It will also help the public sector company to unlock its tower assets and improve its financial position.

ANSWER: A. Airtel

On 6th Aug’15 Bharti Airtel launched pan-India 4G high-speed data services in 296 towns across India and it will be available to customers through 4G-enabled mobile phones, internet dongles and Wi-Fi routers.

ANSWER: B. Robert Downey Jr.

Robert Downey Jr. topped the list for the third year in a row with earnings of 80 million US dollars. Amitabh Bachchan and Salman Khan stood at seventh position with earnings of 33.5 Million US dollar.

ANSWER: A. Enable Cheque collections on Electronic Mode

The proposed law seeks to amend the Negotiable Instruments Act of 1881 in tune with the modern day requirements for enabling electronic mode of operations. Nearly 40 thousand cheque bouncing cases are pending with High Courts and about 19 lakh cases in lower courts across the country.

ANSWER: D. 5000 Crore

The Employment Provident Fund Organisation - EPFO will invest around Rs 5,000 crore this fiscal through SBI Mutual Fund's two index linked ETFs, one to the BSE's Sensex and the other to NSE's Nifty. The decision comes after the labour ministry allowed EPFO to invest 5 to 15 % of its incremental corpus in equities through ETFs. Asked why EPFO was starting off with just 5% of the corpus when it has the mandate for 15%, EPFO Commissioner K.K. Jalan said that the organisation had decided to go slow. Adding that investing through ETF route reduces risk, Mr. Jalan said fund allocation could increase to as much as Rs 70 billion to Rs 80 billion next year and that the organisation will also consider investing in other ETFs. Currently, EPFO has 8.5 trillion rupees under management, most of it invested in government bonds.