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January 1-5, 2015

1) National Institution for

Transforming India (NITI) Aayog

replaced Planning Commission

The Government of India has

scrapped its 65-year-old Planning

Commission, replacing it with the

National Institution for Transforming

India (NITI) Aayog. The new National

Institution for Transforming India

(NITI) will act more like a think tank

or forum, say its supporters, in

contrast with the Commission which

imposed five-year-plans and

allocated resources to hit set

economic targets.

One significant change of note is that

one of the functions of the body will

be to address the needs of national

security in economic strategy.

Nowhere is this more relevant than in

the area of energy security where

India, unlike China, has failed to

evolve a coherent policy over the

years. Similarly, networking with

other national and international think-

tanks and with experts and

practitioners, as has been

envisaged, will add heft to the advice

that the NITI Aayog will provide.

NITI will have a governing council,

which will include leaders of Indias

29 states and seven union territories

comprising all chief ministers and

lieutenant governors the PM will

chair it and will work towards

fostering co-operative federalism for

providing a national agenda to the

Centre and states of India.

The institution will create a

knowledge, innovation and

entrepreneurial support system

through a collaborative community of

national and international experts,

practitioners and other partners.

It will also offer a platform for

resolution of inter-sectoral and inter-

departmental issues to accelerate

the implementation of the countrys

development agenda.

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The new body will also focus on

technology upgradation and capacity

building for implementation of

programmes and initiatives. The

Aayog follows Modis announcement

in his Independence Day speech that

there was a need for replacing the

Planning Commission with a new

body in the changed economic

scenario. The government has set up

the Aayog through a Cabinet

resolution. The Planning

Commission was also set up through

a government resolution, in 1950.

Objectives of NITI Aayog:

Key objective for establishing Niti

Aayog was to separate as well as

energize the distinct process of

governance from the strategy of

governance.

Second objective is to provide

governments at the central and state

levels with relevant strategic and

technical advice across the spectrum

of key elements of policy. This

includes matters of national and

international import on the economic

front, dissemination of best practices

from within the country as well as

from other nations, the infusion of

new policy ideas and specific issue-

based support. The institution has to

be able to respond to the changing

and more integrated world that India

is part of.

Third objective is to change from the

past is replacing a centre-to-state

one-way flow of policy by a

continuing partnership with the

states. The institution to have the

necessary resources, knowledge,

skills and, ability to act with speed to

provide the strategic policy vision for

the government as well as deal with

contingent issues.

Lastly the institution must adhere to

the tenet that while incorporating

positive influences from the world, it

will find our own strategy for growth.

The new institution has to zero in on

what will work in and for India. It

should be a Bharatiya approach to

development.

2) A step towards Universal Health

Coverage

The Union government took a bold

step by releasing the draft National

Health Policy 2015. The policy is a

first step in achieving universal

health coverage by

advocating health as a fundamental

right. The key objective is to work

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towards universal access of

affordable health-care services. The

current government spending on

health care is a dismal 1.04 per cent

of gross domestic product (GDP),

one of the lowest in the world; this

translates to Rs.957 per capita in

absolute terms.

The draft policy has addressed this

critical issue by championing an

increase in government spending to

2.5 per cent of GDP (Rs.3,800 per

capita) in the next five years. But

even this increase in allocation falls

short of the requirement to set right

the dysfunctional health-care

services in the country. Insufficient

funding over the years combined

with other faulty practices have led to

a dysfunctional health-care system in

the country. The failure of the public

health-care system to provide

affordable services has been the

main reason that has led to

increased out-of-pocket expenditure

on health care. As a result, nearly 63

million people are driven into poverty

every year. The Ebola crisis in

Liberia, Guinea and Sierra Leone,

which underlined the repercussions

of a weak public health-care system,

should serve as a grim reminder of

this.

Draft on National Health Policy

2015

The national programmes at present

provide universal coverage only with

respect to certain interventions such

as maternal ailments that account for

less than 10 per cent of all

mortalities. Over 75 per cent of the

communicable diseases are outside

their purview and only a limited

number of non-communicable

diseases are covered. It is, therefore,

crucial for the Union government to

undertake proactive measures to

upgrade the health-care services of

poorly performing States such as

Bihar and Uttar Pradesh. As it

stands, health will be recognised as

a fundamental right through a

National Health Rights Act only when

three or more States request it.

Since health is at present State

subject, adoption by the respective

States will be voluntary. Though a

different approach has been taken to

improve adoption and

implementation by States, the very

objective of universal health

coverage that hinges on portability

will be defeated in the absence of

uniform adoption across India.

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3) A roadmap for reforming ailing

state banks

Indias top bankers have gathered in

Pune in a one-of-a-kind Retreat for

Banks and Financial

Institutions called GyanSangamto discuss long-pending

reforms vital to improving the health

of ailing public sector banks in Asias

third-largest economy.The countrys

more than two dozen inefficient

state-run banks have been

constrained by a pile of bad loans

and corporate governance issues.

They also lag their private sector

rivals in profitability.

For years, political interference and

union opposition have thwarted

major reforms. If reformed, however,

the countrys mega state lenders

offer investors the best exposure to

any sustained upswing in Indias

economy.Besides the heads of all

public sector banks, the two-day

meeting ending on Saturday will also

be attended by Prime Minister

NarendraModi, Finance Minister

ArunJaitley and Reserve Bank of

India Governor RaghuramRajan.

The issues to be discussed include

industry consolidation, restructuring

of state banks for better efficiency

and governance, as well as asset

quality.State banks account for more

than 70 percent of total outstanding

loans in the sector.Public sector

lenders are estimated to need as

much as $60 billion in capital over

the next four years to meet upcoming

global regulations and to build a

buffer against rising bad loans.

The programme includes a separate

session devoted to sharing of the

best Practices followed by different

Banks. Learning from each other.

The following best practices would

be shared:

Axis Bank the Mobile Youth

account Retail banking Product

design based on life insights.

IDBI Bank The Electronically

secured bank and treasury receipts

and Payments.

State bank of India A Specialized

cadre of IT function. This has

created a viable track for specialist

talent in public sector banking.

Andhra Bank The Objective Key

Result Areas (KRA) and Key

Performance Indicators (KPI) for a

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transparent and IT enabled

evaluation system of Human

Resources.

January 6, 2015

1) On 5 January 2015 who was

named as the first Vice-Chairman of

the newly announced NITI Aayog

(Policy Commission), which

replaced Planning Commission?

Arvind Panagariya

Explanation: Arvind Panagariya is

an eminent free market economist

and has been an Economics

professor at Columbia University in

New York. He, as vice chairman,

would have a pivotal role in

coordinating economic strategy and

hold cabinet rank. Economist Bibek

Debroy along with former secretary

of defence research and

development V.K. Saraswat were

named as the other full-time

members of the commission. NITI

Aayog (the new commission) was

set up to modernise economic

strategy after decades of Soviet-

style central planning. Panagariyas

market-friendly, pro-growth

economics has helped shape

Modis outlook and is seen by many

as an attack on overbearing labour

regulations and state-run

companies.

2) Prime Minister Narendra Modi on

5 January 2015 launched a scheme

for distribution of LED bulbs in

which city under which consumers

will be able to request for LED

bulbs as replacement for ordinary

bulbs and CFL bulbs? Delhi

Explanation: Under the scheme,

consumers in Delhi will be able to

request for LED bulbs under the

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Domestic Efficient Lighting

Programme (DELP) through a new

website launched by Prime Minister

on the same day. Consumers can

register for this scheme either

through the website or by sending

an SMS to a designated number.

Under the programme, consumers

will pay Rs. 130 per LED bulb as

compared to market prices, which

range from Rs. 350 to Rs. 600. LED

bulbs, which have longer lives, are

considered to be highly energy

efficient, and environmentally

friendly. In general, LED bulbs are

expected to have a life 50 times

longer than ordinary bulbs and 8-10

times longer than CFLs. It was

estimated that 7,000 units of

electricity could be saved by

replacing ordinary bulbs in South

Block, the central govt. office in

Delhi.

3) What major restrictions on willful

defaulters were imposed by Indian

capital market regulator Securities

and Exchange Board of India

(SEBI) on 5 January 2015?

- Companies in which a

promoter, director or subsidiary

is declared a wilful defaulter will

not be allowed to issue equity,

debt securities, or non-

convertible redeemable

preference shares

- Wilful defaulters will not be

allowed to make an offer to take

over a listed company in India,

but will be allowed to make a

counter-offer in case they are the

target of a hostile takeover

Explanation: Under law wilful

defaulters are classified as

companies or individuals who

deliberately thwart repayment of

dues to lenders. The SEBI

proposals come as part of a

concerted effort by Indian

policymakers to tackle the bad

loans that are hurting profitability at

state-run banks, where stressed

loans account for 12.9% of loans

compared with 4.4% at private

sector lenders, according to the

data issued by the RBI. The RBI

last year also passed tougher rules

on wilful defaulters, including

making companies that guarantee

loan obligations of their units

responsible if the subsidiary is

declared a wilful defaulter.

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4) The Union Cabinet on 5 January

2015 approved the largest ever

telecom spectrum auction under

which under which the government

will sell 380.75 megahertz of

second generation (2G) spectrum in

three bands. What is the total value

that govt. expects to fetch from this

auction? Rs. 64,840 crore

Explanation: The Cabinet, headed

by Prime Minister Narendra Modi,

approved a reserve price of Rs.

3646 crore pan-India per MHz in

800 MHz, Rs. 3980 crore for 900

MHz band pan India excluding

Delhi, Mumbai, Kolkata, and J&K;

Rs. 2191 crore pan India in 1800

MHz band. 2100 MHz may also be

put on auction simultaneously after

Defence Ministry vacates it.

Proceeds from this years auction

will help government reach its fiscal

deficit target of 4.1% of GDP.

Government had garnered about

Rs. 62,162 crore from the last

auction in February 2014.

5) Who was appointed as the new

Chief Justice of Jammu & Kashmir

High Court on 5 January 2015 by

the President? Justice

Mohammad Yaqoob Mir

Explanation: Justice Mohammad

Yaqoob Mir was the senior-most

judge of the Jammu & Kashmir

High Court. He took place of Justice

Mahesh Mittal Kumar who

superannuated. This appointment

was done by the President in

exercise of the powers conferred by

Section 100 of the Constitution of

Jammu & Kashmir.

6) Andhra Bank, which of-late was

facing threat of merger in view of

high non-performing assets (NPAs)

from big corporate clients,

especially from the infrastructure

sector, almost got a new lease of

life recently and there is no merger

threat for the bank for now. Why

this threat has evaporated?

Presently no bank is in a

position to support another bank

in view of the prevailing

economic conditions

Explanation: The issue of mergers

came up for discussion in the two-

day bankers meet (Gyan Sangam)

held in Pune between 2 and 3

January 2015. It emerged that

going by the prevailing situations no

bank is in a position to support

other by acquiring stake or by some

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other similar manner. This, in effect,

gives a new lease of life for Andhra

Bank, the only public sector bank

from Andhra Pradesh. The

Government is set to grant a capital

of about Rs. 200- 300 crore. Andhra

Bank with a 5.99% non-performing

assets (NPAs) in September 2014,

will continue to focus on retail and

small and medium enterprises.

Once the loan-waiver completes in

Andhra Pradesh, it hopes to have

agriculture portfolio back in the

prime.

7) Pakistan cancelled this years

first anti-polio campaign which was

to start from 5 January 2015. What

was the reason for this? Security

reasons and threat perceptions

Explanation: The anti-polio drive

was to begin on 5 January in some

areas of the Rawalpindi district, the

entire Khyber Pakhtunkhwa (KP),

the Federally Administered Tribal

Areas (FATA) and parts of Punjab,

Sindh and Balochistan. However

the drive was rescheduled to 19

January 2015 due to threat

perceptions. Meanwhile a polio

worker was attacked in the restive

Khyber-Pakhtunkhwa province on 5

January. The year 2014 has been

the toughest year for Pakistans

anti-polio programme as the

number of confirmed cases reached

297, the highest in the country

since 1999. During the past six

months, Pakistan recorded the

highest number of polio cases

followed by Afghanistan and

Nigeria.

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January 7, 2015

1) Who became the first Indian

industrialist to be felicitated by a

commemorative coin after a

commemorative coin on this

industrialist was released by Prime

Minister Narendra Modi on 6

January 2015? Jamsetji

Nusserwanji Tata (The founder of

Tata Group)

Explanation: Prime Minister

Narendra Modi released a

commemorative coin to mark the

175th birth anniversary of Tata group

founder Jamsetji Nusserwanji Tata.

Jamsetji Tata founded the Tata

group in 1868. J.N. Tata is

considered father of modern

industry in India. The translation of

his vision led to creation of Indias

first integrated steel plant (Tata

Steels Jamshedpur plant-1907),

hydroelectric power plants that

service Mumbais needs till today

(Tata Powers Khopoli plant-1910)

and the Indian Institute of Science

(1909). The $100 billion Tata Group

now comprises over 100 operating

companies, with operations in more

than 100 countries across six

continents, exporting products and

services to over 150 countries.

2) Trade unions of which sector

went on a five-day strike on 6

January 2015 that was termed as

the biggest industrial action for any

sector since 1977? Coal sector

Explanation: The unions went on

strike to protest against

disinvestment and restructuring of

state-run Coal India and to press

for their other demands including

the roll-back of what they call as

process of denationalising of coal

sector. All India Coal Workers

Federation (AICWF) claimed that

almost 7 lakh workers went on this

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strike. The strike can affect coal

production of up to 1.5 million

tonnes a day and may also hit

supplies to power plants which are

already grappling with fuel

shortages. On its part the Union

Govt. called a meeting with

representatives of major trade

unions BMS, INTUC, AITUC,

CITU and HMS to sort out the

issue.

3) The BSE Sensex crashed 905

points in intraday trade on 6

January 2015, which was its

biggest single-day fall in over 5

years. What were the major

reasons for this dramatic fall?

Continued fall in crude oil prices

and worries stemming out of the

Greek economy

Explanation: The crash recorded

in the BSE Sensex 6 January 2014

was the eighth biggest single-day

fall in Indian stock markets. Crude

oil prices continued to fall with Brent

hitting a low of $51.23 a barrel on 6

January. While cheap oil is good for

India as the country imports nearly

80% of its energy needs, but the

over 50% plunge in oil prices since

June has also raised deflationary

fears in many countries. The

second major reason that

contributed in this crash was the

talk of Greece crashing out of the

Euro zone. Euro zone is a major

trade partner for the US, Eastern

Europe and Asia and hence worries

pertaining to it cast its spell on all

these markets including India.

4) Whose name was cleared as the

first CEO of NITI Aayog by the

Union Govt. on 6 January 2015?

Sindhushree Khullar

Explanation: Sindhushree Khullar

was the Secretary of the erstwhile

Planning Commission, which has

now been replaced by the NITI

Aayog (Policy Commission).

Khullar, a 1975 batch UT cadre IAS

officer, had taken over as Secretary

Planning Commission in April 2012.

Her appointment could be made at

any time according to media

reports. Noted economist Arvind

Panagariya has been appointed as

the first Vice Chairman of the

newly-created NITI Aayog.

5) Who was sworn in as the

19th Governor of Meghalaya on 6

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January 2015? Keshari Nath

Tripathi

Explanation: Keshari Nath Tripathi

is the Governor of West Bengal and

he would continue to hold the office

of Governor of the state until further

orders. Meghalaya High Court Chief

Justice Uma Nath Singh

administered the oath of office and

secrecy to him.

6) Which Indian auto major

achieved the milestone of

producing 50 lakh vehicles as

announced by the company on 6

January 2015? Mahindra &

Mahindra (M&M)

Explanation: M&M achieved this

milestone by rolling out its 5

millionth vehicle from Kandivali

plant in Mumbai. The companys

44 offroader, Mahindra Thar, was

rolled out as the 5 millionth vehicle

from this plant. The company had

achieved the 40 lakh mark in 2012

and reached the 50 lakh vehicle

mark in just two years. This

milestone is the result of combined

vehicle production from the

companys six automotive plants,

namely Chakan, Nasik, Haridwar,

Zaheerabad, Kandivali and engine

plant in Igatpuri. Mahindra &

Mahindra is part of the Mahindra

Group and is one of the largest

vehicle manufacturers by

production in India and the largest

seller of tractors across the world. It

was set up as a steel trading

company in 1945 in Ludhiana as

Mahindra & Mohammed by brothers

K.C. Mahindra and J.C. Mahindra

and Malik Ghulam Mohammed.

After India gained independence

and Pakistan was formed,

Mohammed emigrated to Pakistan.

The company changed its name to

Mahindra & Mahindra in 1948.

Starting as a licensee of Willys

Jeep in India the company later

became a leader in SUV, LCV and

agricultural auto products.

7) Which states won the mens and

womens title of 65th Senior National

Basketball Championship 2014-15,

that concluded on 5 January 2015

at Bhilwara (Rajasthan)?

Uttarakhand (mens) and

Chhattisgarh (womens)

Explanation: In the title clash for

mens title, Uttarakhand defeated

Tamil Nadu by 72-63 to reclaim the

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title. Uttarakhand had last won the

Senior Nationals two years ago at

the 63rd Senior Nationals in

Ludhiana, Punjab. In the womens

title clash, defending champions

Chhattisgarh women scored a

convincing 84-75 win over Delhi.

January 8, 2015

1) What is the name of the French

satirical newspaper that came

under attack by two masked

gunmen on 7 January 2015

resulting in the death of papers

editor and 11 other people?

Charlie Hebdo

Explanation: The attack on

Charlie Hebdo was Frances

deadliest terror attack in at least

two decades. It resulted in the

death of newspapers Chief Editor

Charb (real name Stephane

Charbonnier) and 3 cartoonists

along with 9 others. The dead

included newspapers journalists

and 2 security personnel. The two

gunmen, suspected to be Islamist

fundamentalists, were however

successful in escaping the

site.Charlie Hebdo (Charlie Weekly)

is renowned for courting

controversy with satirical attacks on

political and religious leaders and

has published numerous cartoons

lampooning the Prophet

Mohammad. The last tweet on its

account mocked Abu Bakr al-

Baghdadi, the leader of the militant

Islamic State, which has taken

control of large swathes of Iraq and

Syria. It has been repeatedly

threatened for publishing

caricatures of the Prophet

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Muhammad, among other

controversial sketches, and its

offices were firebombed in 2011.

2) The 13th edition of Pravasi

Bharatiya Divas (PBD) started on 7

January 2015 with the inaugural

session of the Youth Pravasi

Bharatiya Divas. This years PBD is

being held in which city?

Gandhinagar (Gujarat)

Explanation: Pravasi Bharatiya

Divas (PBD) is worlds largest

annual gathering of people of Indian

origin and is aimed at enhancing

networking and reinforcing

commercial linkages. The three-day

diaspora conclave is being held at

Gandhinagar from January 7-9 to

mark the centenary of foremost

Indian diaspora member, Mahatma

Gandhis return from South Africa to

India.

3) In an important development the

Finance Ministry during January

2015 gave what assurance to public

sector banks (PSU banks) and

financial institutions? Full

freedom in matters related to

commercial decisions, transfers

and postings

Explanation: The Finance Ministry

wrote letter to all public sector

banks and financial institutions on 5

January 2015 to take all

commercial decisions in the best

interest of the organisation without

any fear or favour. This assurance

followed a two-day brainstorming

meeting on 3-4 January 2015 in

Pune where Prime Minister

Narendra Modi discussed ideas to

improve the health of state lenders,

who are facing mounting bad loans

and corporate governance issues. It

is worth mentioning that f or years,

political interference and union

opposition have thwarted major

reforms at the lenders that account

for more than 70% of total

outstanding loans in the sector.

PSU banks recorded the highest

level of stressed loans at 12.9% of

their total advances in September

last year, while the same ratio for

private sector banks was at 4.4%,

according to the latest RBI data.

4) President Pranab Mukherjee on

6 January 2015 promulgated an

ordinance associated with

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citizenship which provides for the

amendments to the Indian Citizen

Act, 1955. What is the name of this

ordinance? Citizenship

(Amendment) Ordinance, 2015

Explanation: Following are the

amendments proposed by the

Citizenship (Amendment)

Ordinance, 2015 to the Indian

Citizen Act, 1955

The mandatory clause for one

year continuous stay in India for

Indian Citizenship has been relaxed

(for special circumstances)

Enabling of registration as

Overseas Citizen of India (OCI) by

a minor, whose parents are Indian

Citizens.

Enabling of registration as

Overseas Citizen of India (OCI) by

a child or a grand-child or a great

grandchild of such a citizen.

In respect of existing PIO card

holders central government may, by

notification in Official Gazette,

specify a particular date from which

all existing PIO card holders will be

deemed to be OCI card holders.

Enabling of registration as

Overseas Citizen of India (OCI) by

such spouse of a citizen of India or

spouse of an OCI registered under

Section 7A and whose marriage

has been registered and subsisted

for a continuous period of not less

than two years immediately

preceding the presentation of the

application under this section.

5) What was the percentage

increase in the revenue earnings of

Indian Railways for the first nine

months of year 2014-15 (1 April

2014 to 31 December 2014) as

disclosed by the Rail Ministry on 6

January 2015? 12.57%

Explanation: The total earnings of

Indian Railways during 1st April to

31st December 2014 was Rs.

114656.13 crore as compared to

Rs. 101856.45 crore during the

same period last year, thus

registering an increase of 12.57%.

Of this earnings from goods

(freight) stood at Rs. 77161.55

crore (12.19% increase), earnings

from passenger fare stood at Rs.

31955.07 crore (15.59% increase)

and income from other sources

stood at Rs. 2862.19 crore (5.58%

increase). However, a decline of

1.64% in booked passengers

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(6256.16 million compared to

6360.15 million) was registered

during these 9 months.

6) In an important development for

the field of countrys high-end

scientific research, the Union Govt.

during December 2015 gave its

approval to the highly ambitious

Neutrino Project. Under this project

experiments in high-energy physics

would be conducted using an

underground Neutrino Detector. For

this project the Indian Neutrino

Observatory (INO) would be

established at which place? Bodi

West hills at Pottipuram (Theni

district in Tamil Nadu)

Explanation: The INO project will

be funded jointly by the Department

of Science and Technology and

Atomic Energy, while the

infrastructure will be created with

the help of the Tamil Nadu

government. The underground

project will comprise a complex of

caverns the main cavern, which

will house the current detector, will

be 130 metres long, 26 metres wide

and 30 metres high. There will be

two smaller caverns that will be

used for setting up experiments for

neutrino double detector and dark

matters. The complex will be

approached by a 2-km-long tunnel.

The Inter Institutional Centre for

High Energy Physics will come up

in Madurai, about 110 km from the

Observatory. India will also seek

international participation in the

project, so that it turns out to be an

international hub for high-end

research such as CERN in Geneva.

7) What was the average annual

growth in Indias rural wages

registered during November 2014

that was the lowest since July

2005? 3.8%

Explanation: According to the data

released by the Labour Bureau, the

rural wages in the country

registered 3.8% year-on-year

increase during November 2014.

This is a significant drop relative to

the two-digit growth rates prevailing

until June, and the peak 20%-plus

levels of 2011. This nominal growth

is lower than the annual consumer

price inflation of 4.09% for rural

India in November 2014. It further

strengthened the case for the

Reserve Bank of India (RBI) to

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initiate policy interest rate cuts sooner than later.

January 9, 2015

1) Which bank launched Indias first

contactless debit and credit card on

7 January 2015 that enables one to

make payments by just waving the

card near merchant terminals

instead of swiping the same?

ICICI Bank

Explanation: This type of card

uses the near-field communication

technology to provide customers

improved convenience of speed

and security over traditional cards

as these cards can complete a

transaction faster and be more

secured as they remain with

customer. ICICI Bank has

introduced these two cards in

Mumbai, Hyderabad and Gurgaon

to begin with and it has installed

over 1,200 PoS machines capable

of accepting contactless payments

in these cities. The bank launched

two cards with the new technology

the Coral Contactless Credit

Cards and the Expressions Wave

Debit Cards and both can also be

used as regular cards at all

merchant terminals (in other cities)

2) The shareholders of Kotak

Mahindra Bank and ING Vysya

Bank approved the proposal to

merge ING Vysya Bank with Kotak

Mahindra Bank. The management

of the banks expects the new entity

to be operational by 1 April 2015. In

terms of total business, this new

entity would be Indias ..

largest private bank? Fourth

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Explanation: The deal will make

Kotak Mahindra the fourth-largest

private bank in India, in terms of

total business after ICICI Bank,

HDFC Bank and Axis Bank. The

combined banking entity will have

1,214 branches in India. However,

the merger needs regulatory

approvals, including from the

Reserve Bank of India (RBI) and

the Competition Commission of

India. ING Vysya Banks

shareholders had approved the

merger proposal on 7 January while

shareholders of Kotak Mahindra

gave their approval to the same on

8 January 2015. The top

management of both banks had

made the merger announcement on

20 November 2014.

3) The Security and Exchange

Board of India (SEBI) on 8 January

2015 proposed e-IPO norms where

investors can bid for shares through

Internet and eventually on mobiles.

This was done so as to boost fund

raising from markets. What is the

proposed timeline for listing of

shares under e-IPO? 2 to 3 days

Explanation: Under the new

norms, SEBI has proposed to

drastically cut the timeline for listing

of shares within 2-3 days of the

IPO, as against 12 days currently.

For already listed companies as

well, SEBI has proposed a fast-

track route for raising of funds

through FPOs (Follow-on Public

Offers) or Rights Offers (where

funds can be raised from existing

shareholders). The fast-track route

of raising capital has been

proposed for companies having

public shareholding market

valuation of as low as Rs. 250

crore, as against Rs. 3,000 crore

currently. SEBI has invited public

comments till January 30, after

which it would put in place final

norms for e-IPO as also for fast-

track issuances.

4) Which airline was named as the

worlds safest airline in a report

published by AirlineRatings.com

that was released on 7 January

2015? Qantas (The national

airline of Australia)

Explanation: The remainder of the

top 10 spots in this list in terms of

the worlds safest airlines were Air

New Zealand, British Airways,

Cathay Pacific, Emirates, Etihad

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Airways, EVA Air, Finnair,

Lufthansa and Singapore Airlines.

Qantas, which is in its 95th year of

operation, was hailed for an

extraordinary record of firsts in

terms of its safety history and

ranked the best of 449 airlines,

including low-cost carriers,

assessed by the website.

AirlineRatings.com praised Qantas

for the way it monitors the engines

of its aircraft using satellite

communications, saying doing so

allows the airline to detect problems

before they become a major safety

issue. Qantas was founded in 1920

and it began its international

services in 1935.

5) Virat Kohli became the highest

scorer in a Test series in Australia

as he passed 619 runs in the series

on 8 January 2015 while batting in

the first innings in the fourth and

final test of the Test series against

Australia at the Sydney Cricket

Ground (SCG). Whose record of

619 runs he broke? Rahul Dravid

Explanation: Till now Rahul Dravid

was the highest scorer in a Test

series in Australia for the 619 runs

he scored against it in the 2003-04

Test series. On 8 January Virat

Kohli overtook Rahul Dravid as he

surpassed 619 runs in the series. It

is worth mentioning that Dravid took

8 innings to score 619 runs in 2003-

04 while Kohli took 7 to reach

surpass this. Kohli scored his fourth

century of the test series and was

dismissed for 147 on 9 January

2015.

6) Which Indian diplomat was

appointed as Under-Secretary-

General in a department of the

United Nations (UN) as announced

by United Nations Secretary-

General Ban Ki-moon on 7 January

2015? Atul Khare

Explanation: Atul Khare is a former

Indian Foreign Service officer and

AIIMS graduate and he was

appointed Under-Secretary-

General, Department of Field

Support (DFS). He succeeded

Ameerah Haq of Bangladesh.

Khare has a long senior career with

the U.N., most recently as Assistant

Secretary-General leading the

Change Management Team (2011-

2012) and Assistant Secretary-

General for Peacekeeping

Operations and Deputy Head of the

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Department of Peacekeeping

Operations in New York (2010-

2011). He was previously Special

Representative of the Secretary-

General for Timor-Leste and Head

of the United Nations Integrated

Mission in Timor-Leste (UNMIT) at

the level of Under-Secretary-

General (2006-2009).

January 10, 2015

1) Who took over as the new

President of Sri Lanka on 9 January

2015 after President Mahinda

Rajapaksa was defeated in the

Presidential elections held on 8

January? Maithripala Sirisena

Explanation: Maithripala Sirisena,

representing New Democratic Front

(NDF) was the main opponent of

Mahinda Rajapaksa, who was the

candidate of the ruling United

Peoples Freedom Alliance (UPFA).

Sirsena was declared the winner

after receiving 51.28% of all votes

cast compared to Rajapaksas

47.58%. These elections were

considered watershed elections in

Sri Lankas democratic history and

Rajapaksa vacated Temple Trees,

his official residence in Colombo,

on 9 January. Later in the evening

Maithripala Sirisena took over as

island nations 6th President at

Independence Square in Colombo.

UNP Leader Ranil Wickramasinghe

was sworn in as the new Prime

Minister. It is worth mentioning that

Sirisena was once an associate of

Mahinda Rajapaksa. While sections

in Sri Lanka hoped for this election

outcome, his defeat was least

expected even two months ago.

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Rajapaksa had called for snap polls

in November, two years ahead of

schedule, targeting a record third

term in office. Hailed for his efforts

in crushing the rebel Tigers and

brining Sri Lankas brutal war to an

end, Rajapaksa was widely

perceived as an invincible leader for

most part of his two successive

terms, until sections began getting

disenchanted over his familys

alleged dominance, allegations of

corruption and growing

authoritarianism.

2) French security forces ended a

three-day terror spree around Paris

on 9 January 2015 killing the two al-

Qaida-linked brothers who staged a

murderous rampage at Charlie

Hebdo, a satirical newspaper.

What were the names of these two

brothers? Said and Cherif

Kouachi

Explanation: Said and Cherif

Kouachi methodically killed 12

people on 7 January 2015 at the

offices of the weekly newspaper

Charlie Hebdo before escaping by

car. The next day, a gunman police

identified as Amedy Couliably shot

a policewoman to death south of

Paris. The two brothers were killed

near a printing plant in the town of

Dammartin-en-Goele, northeast of

Paris, where they were holed up

with a lone hostage. Couliably was

killed at a Paris supermarket where

he was holding shoppers at

gunpoint and threatened to kill them

unless police let the Koachis go. All

the three were suspected to have

links with the Yemen unit of al-

Qaida. The worst terrorist attacks

France has seen in decades killed

at least 20 people, including the

three terrorists.

3) Which anniversary of Mahatma

Gandhis return to India from South

Africa was observed on 9 January

2015? 100th

Explanation: 9 January 2015

marked the centenary of Mahatma

Gandhis return to India from his

highly enriching trip of South Africa.

He spent 21 years (1893-1915) in

South Africa, where he developed

his political views, ethics and

political leadership skills. Mahatma

Gandhi first employed nonviolent

civil disobedience as an expatriate

lawyer in South Africa, in the

resident Indian communitys

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struggle for civil rights. His South

African stay shaped his social

activism and awakened him to

social injustice. When he returned

to India permanently on 9 January

1915 he was a completely

transformed man from an

apparently shy young barrister to an

Indian nationalist, theorist and

organizer. In 2002 Indian Govt.

decided to celebrate 9 January as

Pravasi Bharatiya Divas(PBD) to

mark the contribution of the

overseas Indian community to the

development of India.

4) Vistara, the airline joint-venture

between Tata Group and Singapore

Airlines (SIA) started its operations

from 9 January 2015. This first flight

of the airline was between which

two cities? Delhi to Mumbai

Explanation: Vistara thus became

the third full-service carrier in the

country, after state-run Air India and

private carrier Jet Airways. The

launch of the new full-service airline

marks the re-entry of Tata group in

the airline business after over six

decades. The Tata Group had

announced in September last year

the formation of a 51:49 joint

venture with Singapore Airlines to

launch a full-service carrier in the

country. The group also holds 30%

stake in the domestic arm of the

Malaysian budget airline AirAsia

India. However, Indian aviation

space has been going through

turbulent weathers in the recent

past. While Kingfisher had to be

grounded after making a big splash

with its positioning as a luxury

carrier, budget airline SpiceJet is

currently going through tough times.

5) What is the name of the first new

antibiotic discovered in 30 years

that has been hailed as a major

discovery in medicine world as it

could pave the way for a new

generation of antibiotics?

Teixobactin

Explanation: The discovery of

Teixobactin was announced in

science journal Nature during

January 2015. It is the first new

antibiotic to be discovered in nearly

30 years and has been hailed as a

paradigm shift in the fight against

the growing resistance to drugs.

Teixobactin has been found to treat

many common bacterial infections

such as tuberculosis, septicaemia

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and C. diff, and could be available

within five years. But more

importantly it could pave the way for

a new generation of antibiotics

because of the way it was

discovered. This discovery was

made by a team from Northeastern

University in Boston,

Massachusetts (US) who

discovered a new way of using an

electronic chip to grow the microbes

in the soil and then isolate their

antibiotic chemical compounds. The

first antibiotic Penicillin, was

discovered by Alexander Fleming in

1928 and more than 100

compounds have been found since,

but no new class has been found

since 1987. The lack of new drugs

coupled with over-prescribing has

led to bacteria becoming

increasingly resistant to modern

medicines.

6) Which country overtook

Afghanistan to become the country

with the largest refugee population

under UNHCRs mandate as stated

by the U.N. Refugee Agency

(UNHCR) in its new Mid-Year

Trends 2014 report released on 8

January 2015? Syria

Explanation: Syrians, for the first

time, became the largest refugee

population under UNHCRs

mandate, overtaking Afghans, who

had held that position for more than

three decades. As of June 2014,

the three million Syrian refugees

now account for 23% of all refugees

being helped by UNHCR worldwide.

Despite dropping to second place,

the 2.7-million Afghan refugees

remain the largest protracted

refugee population under UNHCR

care. Following that, the leading

countries of origin of refugees were

Somalia (1.1 million), Sudan

(670,000), South Sudan (509,000),

the Democratic Republic of the

Congo (493,000), Myanmar

(480,000) and Iraq (426,000).

Pakistan, which hosts 1.6 million

Afghan refugees, remains the

biggest host country in absolute

terms. According to the report India

was home to over 2,00,000

refugees in the first six months of

2014. India was home to 1,98,665

refugees as of June 2014 and had

4,718 pending cases of asylum

seekers, bringing the total

population of concern to 2,03,383.

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January 11, 2015

1) Prime Minister Narendra Modi on

11 January 2015 inaugurated the

Vibrant Gujarat Summit 2015 (VGS

15), a flagship programme of the

Gujarat government, in

Gandhinagar, which was also

attended by UN Secretary General

Ban Ki-Moon and US Secretary of

State John Kerry. This is which

edition of Vibrant Gujarat Summit?

7th

Explanation: Three-day Vibrant

Gujarat Summit of 2015 is touted to

be the biggest ever, with a host of

high-profile business as well as

political leaders attending it. Apart

from Ban Ki-Moon and John Kerry,

several ministers from Europe,

Japan, Australia and Canada and

over 50 CEOs of top Indian as well

as international companies are

paricipating in the summit that will

conclude on 13 January. Eight

countries -Canada, Japan, China,

Australia, the Netherlands,

Singapore, South Africa and the

U.S. are partnering with the state

government of Gujarat in this

summit. Vibrant Gujarat Summit is

the name given to a biennial

investors summit held by the

government of Gujarat. The event is

aimed at bringing together business

leaders, investors, corporations,

thought leaders, policy and opinion

makers; the summit is advertised as

a platform to understand and

explore business opportunities in

the State of Gujarat. VGS was first

held in 2003.

2) Bihar Government and the Bihar

State Tourism Development

Corporation (BSTDC) on 10

January 2015 organised the first of

its kind walk through a 13-km forest

trail which Lord Gautama Buddha

had taken to reach Rajgir from

Bodh Gaya around 2,543 years

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ago. What was the name given to

this highly successful initiative in

which people from 11 countries

took part? Buddha Heritage

Walk

Explanation: The first-ever Buddha

Heritage Walk introduced by the

BSTDC started from Jethian in

Rajgir district, around 100 km

southeast of Patna. Buddha took

this route when he decided to move

to Rajgir after attaining

enlightenment at Bodh Gaya. He

was welcomed at Jethian by

Bimbisar, the king of Magadh

Empire, whose Capital was Rajgir.

Bimibsara took Buddha to Venu

Van, around 13 km from there, and

offered the place to him as a gift.

Buddha had stayed there during his

visit. The route is well-documented

and is believed by scholars to be

the only authentic one among

several such routes taken by

Buddha during his 45 years of

preaching in various parts of India.

Over 500 pilgrims from 11 countries

converged on Jethian and took part

in this walk. Buddhists monks and

followers from Japan, China, South

Korea, Nepal, Sri Lanka, Myanmar,

Vietnam, Taiwan, Indonesia,

Malaysia and Brazil participated in

this historic event.

3) Who was selected for the

prestigious Vikram Sarabhai

Memorial Award for 2015 presented

by the Indian Science Congress

Association (ISCA)? M.Y.S.

Prasad, Director of Satish Dhawan

Space Centre, Sriharikota Range

(SHAR)

Explanation: Prasad was selected

for his outstanding contribution to

R&D in the field of space science in

his long and chequered career at

the Indian Space Research

Organisation (ISRO). Prior to Dr.

Prasad, those who received this

award were former ISRO chairmen

Dr. Satish Dhawan, Dr. K. Kasturi

Rangan, Dr. G. Madhavan Nair and

Dr. K. Radhakrishnan. The ISCA,

which is a premier scientific

organization of the country

established in 1914 in Kolkata, has

been giving this award in alternate

years.

4) What is the name of the Indian-

origin executive who was named as

President of U.S. database

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behemoth Oracle during January

2015? Thomas Kurian

Explanation: Thomas Kurian thus

became perhaps the single most

senior executive in the company

after co-CEOs Safra Catz and Mark

Hurd. He had joined the $38 billion

Oracle in 1996, was executive VP

(product development). He is

originally from Kerala an alumnus of

Bengalurus St Josephs Boys High

School. He holds a BA in electrical

engineering from Princeton

University, where he graduated

summa cum laude (highest

distinction). He has an MBA from

Stanford University where he was

an Arjay Miller scholar. Indians are

now at top levels in many IT firms

the notable being Satya Nadella,

CEO of Microsoft, and Sundar

Pichai, head of most major Google

products. A recent entrant is

Bhaskar Ghosh, management

committee member and group chief

executive of technology delivery at

Accenture.

5) Which Middle-east based bank

during January 2015 launched

regions first online-only consumer

banking business will offer personal

finance products and credit cards?

Gulf International Bank (GIB)

Explanation: Gulf International

Bank (GIB) is a Bahrain-based

entity but is 97%-owned by the

Saudi government. The online-only

retail banking business launched by

it has been launched for Saudi

Arabia and has been named as

Meem. It aims to have around a

3% share of the Saudi consumer

banking market by 2020. Saudi

Arabia is Middle-Easts largest

economy and around two-third of

the countrys population is under

30. Until now, GIB was solely a

wholesale bank and provided

services to big companies and

financial institutions. It needed a

bailout from the Saudi government

after suffering $757 million of losses

in 2007 from investing in complex

debt instruments linked to the U.S.

subprime housing crisis.

6) Tennis ace Roger Federer

achieved which milestone by

winning the Brisbane International

Open title on 11 January 2015?

He claimed his 1,000th career

victory by winning this final

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Explanation: Switzerlands Roger

Federer defeated third-seeded

Milos Raonic of Canada by 6-4, 6-7

(2), 6-4 in the Brisbane International

final to claim his 1,000th career

victory. This was his 83rd title. Only

retired greats Jimmy Connors

(1,253) and Ivan Lendl (1,071) have

won more than 1,000 matches on

the mens tour.

7) Which country created history on

10 January 2015 by winning its

maiden Hopman Cup by defeating

much stronger U.S. in the finals?

Poland

Explanation: Poland defeated

much fancied United States led by

womens number one player

Serena Williams by 2-1 to win their

maiden Hopman Cup title. Polands

Agnieszka Radwanska shocked 18-

time major champion Williams by 6-

4, 6-7 (7-3), 6-1 to give Poland 1-0

lead. However John Isner equalized

the tie by defeating Jerzy Janowicz.

In the final matchJanowicz and

Radwanska combined to defeat the

US in the mixed doubles to give a

historic title win. The Hopman

Cup is an annual international team

indoor featuring worlds top 8

mixed-gender teams and is played

at Perth (Australia). This was the

27th edition of Hopman Cup which

was founded in 1989.

8) West Indies created a world

record in chasing target in T20

when it successfully chased 232

run target set by hosts South Africa

at The Wanderers in Johannesburg

on 11 January 2015. Whose record

of highest T20 chasing it broke?

India

Explanation: West Indies

successfully chased target of 232

run set by South Africa to beat

Indias record of chasing 211

against Sri Lanka in 2009. A total of

467 runs were made in this South

Africa-West Indies match which is

also a new world record. Chris

Gayle (90 runs of 40 balls) and

Marlon Samuels (60 runs of 39

balls) steered West Indies to this

record chase as they won the T20

series too. Earlier South Africas Faf

du Plessis blasted the second

fastest century (47 balls) in T20

internationals and he went on to

score 119 runs.

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January 13, 2015

1) Indias first hi-speed Rural

Broadband Network (HSRBN) was

commissioned in which district of

Kerala and was declared the first

district in the country linked to the

National Optic Fibre Network

(NOFN) on 12 January 2015?

Idukki District

Explanation: The hi-speed Rural

Broadband Network was

commissioned at Keralas Idukki

district under the Digital India

Programme and the National

Optical Fibre Network (NOFN)

project of the Union Government.

Minister for Communications & IT

Ravi Shankar Prasad inaugurated

this network. NOFN is the largest

rural connectivity project of its kind

in the world. It seeks to link each of

the 2.5 lakh Gram Panchayats of

India through broadband optical

fibre network. On its completion,

NOFN is expected to facilitate

broadband connectivity to over 600

million rural citizens of the country.

2) The Supreme Court of India on

12 January 2015 gave what

important direction regarding e-

voting by non-resident Indians

(NRIs)? It directed the central

government to enable e-voting

by NRIs within eight weeks

Explanation: With this Supreme

Court order NRIs will soon be able

to cast their vote from abroad,

without having to fly back to their

hometown during elections. SC

accepted an Election Commission

report recommending e-ballot

voting for Indian passport holders

abroad and it would have the

process in place after amending

laws. In e-voting, a blank postal

ballot paper is mailed to the voter,

who has to fill it and mail it by post

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to their constituency. The system

has almost no risk of manipulation,

rigging or violation of secrecy, the

commission has said in its report.

3) As per the latest Finance Ministry

data released on 11 January 2015,

private sector banks are way

behind their PSU peers when it

comes to opening financial

inclusion accounts under the

Pradhan Mantri Jan Dhan Yojana

(PMJDY). What was the share of

private banks in this flagship

financial inclusion programme of

the government? Around 3%

Explanation: As per the latest

Finance Ministry data, 13 private

sector banks have opened 30.47

lakh Jan Dhan bank accounts as

against 8.62 crore by state-owned

banks as on 7 January 2015.

Private banks have a market share

of about 20% in Indian banking

scenario, but their contribution in

this flagship financial inclusion

programme of the government is

only about 3%. The number of such

accounts opened by even regional

rural banks (RRBs) stood at 1.92

crore. Prime Minister Narendra

Modi launched the financial

inclusion scheme on 28 August

2014. The initial target was to open

7.5 crore such accounts, but the

later it was revised upwards to 10

crore to be completed by 26

January 2015. However, this target

has already been achieved.

4) The Assembly elections for 70

Assembly seats of National Capital

Territory (NCT) of Delhi would be

held on which date as announced

by the Election Commission of India

(ECI) on 12 January 2015? 7

February 2015

Explanation: Keenly-awaited and

highly prestigious assembly

elections for NCT of Delhi (70

seats) would be held on 7 February

and results for the same would be

declared on 10 February 2015. ECI

stated that it hopes that the whole

process of elections in Delhi gets

completed by 12 February 2015.

The last Legislative Assembly of

NCT of Delhi was dissolved by the

President of India on

4th November, 2014 as no party

was found able to form a

government here. The forthcoming

elections are expected to be a

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three-cornered fight between the

BJP, AAP and Congress.

5) The Insurance Regulatory

Authority of India (IRDA) has got an

actuary after a gap of over three

years. What is the name of the

person assigned the post of

member (actuary) in IRDA?

Pournima Gupte

Explanation: The post of member

(actuary) had been lying vacant

after R. Kannan retired from IRDA

in 2011. The post was kept vacant

for almost 3 years resulting in a

major bottleneck for insurance

companies in launching new

schemes. Gupte, who was originally

with Life Insurance Corporation

(LIC), had worked as actuary at

Reliance Life Insurance and IDBI

Federal. This is also for the first

time that a woman has been

appointed on the board of IRDA.

An actuary is a business

professional who deals with the

financial impact of risk and

uncertainty. Actuaries provide

assessments of financial security

systems, with a focus on their

complexity, their mathematics, and

their mechanisms.

6) Which club claimed its maiden

Federation Cup title after it won the

title clash held at Margao on 11

January 2015? Bengaluru FC

Explanation: Bengaluru FC

defeated home side Dempo FC by

2-1 to win its maiden Federation

Cup title. This was the second

major title for Bengaluru FC in their

two years of existence. They have

won the I-League last season. For

Dempo FC, who won the title in

2004, they finished runners-up for

the fifth time. Federation Cup is

considered the second most

prestigious club football title in India

after I-League. It was first held in

1977.

7) Top seed Stanislas Wawrinka

retained the singles title of the

Chennai Open with a comfortable

6-3, 6-4 win over Slovenian qualifier

Aljaz Bedene in the final held on 11

January 2015. This was

Wawarinkas Chennai

Open singles title? Third

Explanation: World No. 4 Stanislas

Wawrinka has been the mens

singles winner at Chennai Open in

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2011 and 2014. In 2014, he went

on to win his first Grand Slam, the

Australian Open, just after winning

the Chennai Open.

8) Which German newspaper came

to news for being target of an arson

attack on 11 January 2015 after it

printed cartoons of French satire

magazine Charlie Hebdo following

the deadly attack on it?

Hamburger Morgenpost

Explanation: Hamburger

Morgenpost, like many other

German newspapers, had printed

cartoons of French satire magazine

Charlie Hebdo after the deadly

attack on it on 7 January 2015 in

Paris. An incendiary device was

thrown at the newspaper building in

the night and documents were

burned inside. Two suspects were

arrested near the crime scene.

January 14, 2015

1) In an important development for

Prime Minister Narendra Modis

Make In India pitch, for the first

time US aviation regulator the

Federal Aviation Administration

(FAA) gave its approval to two

aircraft parts manufactured by

Indian manufacturers. With these

FAA approvals the manufacturers

will be able to supply the parts to

aircraft manufacturing units in the

US and the world over. What are

the names of these two Indian

manufacturers? The India arm of

UTC Aerospace Systems (UTAS)

and HBL Power Systems

Explanation: A four-person life raft

developed by the India arm of UTC

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Aerospace Systems (UTAS) and

nickel-cadmium batteries developed

by Hyderabad-based HBL Power

Systems were approved by the

FAA. The approval from the FAA

implies that these two products are

now internationally certified. This is

the first instance of any aircraft

parts manufactured by Indian

entities being approved by the FAA.

To promote the development of the

aerospace industry under the PMs

ambitious Make in India scheme,

most state governments are coming

up with their aerospace and

defence manufacturing policies

providing significant incentives and

policy support to potential investors.

2) The Union Government during

January 2015 asked states to

deploy an open source Linux-based

operating system meant to run

official computers under an initiative

titled BOSS. The acronym BOSS

stands for what? Bharat

Operating System Solutions

Explanation: The BOSS initiative is

being proposed as a homegrown

alternative to the Microsoft

Windows operating system, which

is the predominant operating

system in use across Central and

state government computer

systems, alongside other Linux

variants such as Redhat and

Ubuntu, as well as Android and

Unix systems. The Government has

entrusted a Chennai-based state-

owned IT firm with the support and

promotion of BOSS.

3) The Union Govt. constituted a

Commission on Denotified and

Nomadic Tribes on 9 January 2015

for preparation of a State-wise list

of castes belonging to denotified

and nomadic tribes and suggest

appropriate measures in respect of

them. Who was appointed as the

Chairman of this Commission?

Bhiku Ramji Idate

Explanation: Bhiku Ramji Idate is a

Mahar BJP leader from

Maharashtra, which is a Dalit sub-

caste. The terms of reference of the

Commission include preparation of

a State-wise list of castes belonging

to Denotified and Nomadic Tribes

and suggest appropriate measures

in respect of these tribes to be

undertaken by the Central

Government or the State

Government. Bhiku Ramji Idate

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took over as the Chairman of the

Commission while Shravan Singh

Rathore took over as its Member

Secretary.

4) The insurance regulator

Insurance Regulatory and

Development Authority (IRDA)

expressed concern over the

skewed penetration of health

insurance in India with four states

accounting for 62% of premium.

Which four states are these?

Maharashtra, Tamil Nadu,

Karnataka and Union Territory of

Delhi

Explanation: This concern was

expressed in the Annual Report for

2014-14 that was published during

January 2015. While these four

states contributed 62% of total

health insurance premium, the rest

32 States/UTs contributed only 38%

of total premium. In fact, the health

insurance premium from 8 sister

States of North Eastern India was

only118 crore (0.6%) for 2013-14.

One of the reasons for the skew in

premium is that 46% of health

insurance premium comes from

group policies sold to corporates.

As a result the coverage is highest

in states with high level of

industrialization.

5) Who took over as the Director

General Air Operations (DGAO) in

the Indian Air Force (IAF) on 13

January 2015? Air Marshal Anil

Khosla

Explanation: Air Marshal Anil

Khosla has over 4000 hours of

flying experience having flown the

Jaguar and MiG 21. He has vast

instructional experience and has

been directing staff at prestigious

institutions like Tactics and Combat

Development Establishment

(TACDE) and Flying Instructor

School (FIS). He has commanded a

Jaguar squadron with maritime role

and two frontline bases of the IAF

at Jaisalmer & Ambala.

6) London-based financial journal

Central Banking named who as

the winner of the Governor of the

Year award on 13 January 2015?

Raghuram Rajan, RBI Governor

Explanation: This is the second

major prize for RBI Governor since

he held the helm of RBI a little over

a year ago. He was named in

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recognition of the part the RBI and

its staff have been playing in

bringing macroeconomic stability to

the Indian economy, in creating

more competition and new growth

opportunities in the banking and

financial markets, as well as in

expanding financial inclusion. He

had earlier won the Best Central

Bank Governor award for 2014 by

Euromoney magazine. Rajan has

been credited with stabilising the

rupee and controlling stubbornly-

high inflation that rocked Indias

economy for the last three years.

7) Who became the first Hindu to

be appointed as the Chief Justice of

Bangladesh on 12 January 2015?

Justice S K Sinha

Explanation: Justice S K Sinha is

the first non-Muslim to become the

countrys top judge. He will take

over on 17 January 2015 with the

present Chief Justice Muzammel

Hossain retiring on 16 January on

reaching 67, the retirement age for

Supreme Court judges in

Bangladesh. Sinha is known for a

number of landmark judgements

including those on the killing of

Bangabandhu Sheikh Mujibur

Rahman and the 5th and

13th amendments to the

Constitution.

8) Which footballer was awarded

the FIFA Ballon dOr award for the

second year running and the third

overall on 12 January 2015?

Cristiano Ronaldo

Explanation: Portuguese footballer

Cristiano Ronaldo, who plays for

Spanish club Real Madrid, polled

more than double the number of

votes that were received by his

bitter rival Lionel Messi of

Argentina. Messi finished second

while Bayern Munichs German

goalkeeper Manuel Neuer took the

third spot. Joachim Loew won the

Coach of the Year of the award

after leading Germany to the World

Cup title in Brazil. Nadine Kessler

(Germany) won the womens Player

of the Year award.

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January 15, 2015

1) Who was named as the new

Chief Election Commissioner (CEC)

of India on 14 January 2015?

Harishankar Brahma (H.S.

Brahma)

Explanation: H.S. Brahma will be

19th CEC and will take over from

V.S. Sampath who retires on 15

January 2015 after almost two and

half years as CEC. Brahma was

one of the two Election

Commissioners (ECs) in the

Election Commission of India (ECI)

till now. 60-year old Brahma, who

hails from Assam, is a 1975 IAS

officer of Andhra Pradesh cadre.

After J M Lyndogh, Brahma will

become the second officer from the

northeast to be appointed to this

post. The Chief Election

Commissioner and Election

Commissioners are appointed by

the President for a tenure of six

years or up to the age of 65. The

Chief Election Commissioner can

be removed from office only

through impeachment by

Parliament.

2) What was the name of the

Director General of Defence

Research and Development

Organisation (DRDO), who was

sacked from his post on 13 January

2015 by the Union Govt.?

Avinash Chander

Explanation: Avinash Chander

was Secretary-cum-Director

General, DRDO and Scientific

Adviser to the Defence Minister. He

had retired on 30 November 2014

on attaining 64 years and was given

a contract for 18 months till 31 May

next year (2016). Thus his removal

after being given a contract raised

many doubts about governments

decision. Opposition parties

criticized this decision. It is worth

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mentioning that Avinash Chander

was one of the chief architects of

the Agni series of the ballistic

missile systems.

3) Which Indian drug company

engaged in production of generic

drugs was recently barred by the

Delhi High Court from making or

selling a cheaper copy of Novartis

AGs respiratory drug Onbrez

domestically? Cipla Limited

Explanation: Cipla Limited, Indias

fourth-largest generic drugmaker by

revenue, had launched its copy of

Onbrez in New Delhi during

October 2014 at a fifth of the

original drugs price, citing urgent

unmet need in India. But in

December 2014 Novartis

challenged the Cipla move in the

Delhi High Court. Onbrez,

chemically called indacaterol, is

used to treat chronic obstructive

pulmonary disease in adults, and

patents covering the drug expire

only in 2020. The Delhi court, in its

order passed on 9 January 2015

observed Cipla did not provide any

figures about the inadequacy or

shortfall in the supply of the drug,

while Novartis claimed it had

enough stocks to meet demand and

could supply more if needed.

4) Union Minister of State for

Minority Affairs Mukhtar Abbas

Naqvi was sentenced to one year

imprisonment along with 19 others

by a Rampur court on 14 January

2015. What is the charge on him?

Breaching prohibitory orders

during the 2009 Lok Sabha polls

Explanation: Naqvi along with 19

other people were booked in Patwai

police station in Rampur for

allegedly breaching prohibitory

orders and barging in a police

station in Patwai area while

campaigning during 2009 Lok

Sabha polls. They were charged for

unlawful assembly and not adhering

to the Model Code of Conduct

under sections of the IPC and

Criminal Law Amendment Act. He,

however, got bail from a higher

court and was released.

5) What is the name of the

Samsung Electronics Co.s own

smartphone operating system, first

smartphone based on which was

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launched by the company in India

on 14 January 2015? Tizen

Explanation: Samsung Electronics

Co. Ltd launched the first

smartphone (Z1) powered by its

Tizen operating system in India on

14 January. The development of

this operating system is being seen

a major development in Samsungs

aim to build a software ecosystem

to rival Googles Android. The

launch is a key step in the

companys strategy to break free

from the Android platform, which

powers Samsungs flagship Galaxy

devices and most other

smartphones on the market. The Z1

smartphone based on this new

operating system has been made

available in India only, targeting

first-time smartphone buyers.

6) What is the name of the Italian

President who handed in his

resignation as head of state on 14

January 2015? Giorgio

Napolitano

Explanation: 89-year old Giorgio

Napolitano resigned before the end

of his second term in office because

of his advanced age. He was widely

respected outside Italy as a

guarantor of stability during the

euro zone crisis. His resignation left

Prime Minister Matteo Renzi with

the politically delicate task of finding

a successor. Italy is struggling to

emerge from years of recession

and the government faces a series

of hurdles to its economic and

constitutional reform agenda.

7) Pope Francis gave Sri Lanka its

first saint on 14 January 2015 at a

huge Mass held in capital Colombo.

What is the name of this Indian-

born missionary who thus became

the first Saint from the country?

Joseph Vaz

Explanation: Vaz was born in 1651

in Indias Goa, then a Portuguese

colony. He travelled south at the

age of 36 to Sri Lanka, a country

then divided into kingdoms after

hearing about the persecution of

Catholics by the Dutch, and worked

for years under the protection of a

Buddhist king, King

Vimaladharmasuriya II. The

canonisation of Joseph Vaz was

seen as an example of Pope

Franciss no-nonsense approach to

creating saints to meet the

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demands of the flock for new holy

figures, particular in parts of the

world where the Church is still

growing.

January 16, 2015

1) What is the name of the worlds

newest jetliner that took to the skies

on 15 January 2015 carrying its first

paying passengers from Qatar?

Airbus A350

Explanation: The first A350 Airbus

departed from the Qatari capital

Doha to Frankfurt, Germany on 15

January to mark the debut flight of

this relatively lightweight, twin-aisle,

long-range plane, which promises

to connect smaller cities with major

aviation hubs nonstop at a cheaper

cost for airlines. The A350 is the

third and final major new aircraft in

a decade. First there was the

double-decker Airbus A380, which

debuted in October 2007. Its the

worlds largest passenger jet,

designed to carry up to 525

passengers between some of the

largest cities on the planet. Then

came the lightweight Boeing 787,

which carried its first passengers in

October 2011. It led to new nonstop

flights between cities that previously

didnt have enough passengers to

merit such service. The A350s

lightweight design allows it to burn

significantly less fuel than other jets

of similar size.

2) In a surprising move the Reserve

Bank of India (RBI) on 15 January

2015 cut its repo interest rate by 25

basis points making its first

reduction in a year. What is the new

repo rate after this cut? 7.75%

Explanation: Repo rate is the level

at which RBI lends to commercial

banks. RBI cited lower-than-

expected inflation, weak crude

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prices and weak demand as the

reasons for its move, as well as the

governments commitment to

sticking to a fiscal deficit target. The

RBI had been under pressure from

government and business leaders

to reduce repo rate to increase

lending and help kickstart the

economy, but RBI governor

Raghuram Rajan insisted that his

priority was bringing inflation under

control. Indias wholesale price

index (WPI) for December 2014

rose just 0.11% year-on-year, after

staying flat in November 2014.

3) Who took over as the new

Chairman of Indian Space

Research Organisation (ISRO) on

14 January 2015? Alur Seelin

Kiran Kumar (A.S. Kiran Kumar)

Explanation: 62-year old A.S.

Kiran Kumar became the

8th Chairman of ISRO. He also took

over as Secretary Department of

Space and Chairman of the Space

Commission. Credited with the

development of important imaging

payloads and the countrys Earth

observation spacecraft, Kiran

Kumar inherited a 54-year-old

organisation that is struggling to

surmount old twin issues those of

self-reliance in satellite transponder

capacity and launch capability that

enables its GSLV rockets to lift our

communication satellites. It is worth

mentioning that his predecessor K.

Radhakrishnan had retired as the

ISRO Chairman on 31 December

2014. Shailesh Nayak (Secretary,

Union Earth Sciences Ministry) had

taken the interim charge of ISRO

for around a fortnight.

4) In an important development for

Indias insurance industry, the

Reserve Bank of India (RBI) on 15

January 2015 gave what three

major permissions to countrys bank

with regard to their participation in

insurance business?

The banks have been allowed to

act as brokers for insurers

wherein they may undertake

insurance agency or broking

business departmentally and/or

through subsidiary

The banks have also been

allowed to set up subsidiaries

and joint venture companies for

undertaking insurance business

with risk participation

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The Banks have also been

allowed to act as corporate

agents without seeking prior

approval from the RBI

Explanation: Under existing

Bancassurance guidelines, a bank

can act as a corporate agent and

sell policy of only one life insurer

and one non-life insurance

company. The new guidelines allow

banks to act as brokers permitting

them to sell insurance policies of

different insurance companies.

However, banks would have to

comply with IRDA guidelines

wherever applicable. This RBI

announcement is expected to

increase insurance penetration in

the country.

5) Which Northeastern state of

India on 15 January 2015 officially

lifted prohibition ending almost two

decades of prohibition in the state?

Mizoram

Explanation: Prohibition in

Mizoram was lifted after the

Mizoram Liquor (Prohibition and

Control) Act 2014 was enforced in

the state on 15 January. It replaced

the Mizoram Liquor Total

Prohibition Act of 1995, through

which prohibition was imposed in

the state in 1995. Prohibition has

been revoked as the state

government is of the view that total

prohibition did more harm than

good to the people of the state as

many people died due to

consumption of spurious liquor.

However, the new law still provides

for strict punishment for drunken

driving, drinking without permit and

causing public nuisance.

6) Microsoft suspended the support

for its highly popular Windows 7

operating system on 14 January

2015, which according to some

industry estimates runs almost half

of the personal computers globally.

When Windows 7 was launched?

October 2009

Explanation: The general

availability of Windows 7 was made

on 22 October 2009. It was

intended to address criticisms faced

by its predecessor, Windows Vista.

The company suspended

mainstream support of Windows 7

on 14 January, meaning neither

new features nor free help will be

given to Windows 7 users. The

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company will continue to patch

security vulnerabilities until 2020.

7) Kalanithi Maran, the promoter of

the beleaguered airline SpiceJet,

would transfer his entire stake in

the carrier to one of the original

founders of airline, who had

founded this airline in 2005. This

announcement was made by the

airline on 15 January 2015. What is

the name of this promoter? Ajay

Singh

Explanation: As part of plan to

revive the airline, proposal of the

principal shareholder and promoter,

Kalanithi Maran and KAL Airways

Pvt Ltd, to transfer the ownership,

management and control of the no-

frills airline to Ajay Singh was

approved by the SpiceJet board at

its meeting on 15 January. Maran

and KAL Airways hold 53.48%

stake in the BSE-listed SpiceJet.

Retail investors hold 45.69% of the

company that has a total market

value of Rs. 1,000 crore. SpiceJet,

which has been going through a

turbulent patch, has been looking to

infuse fresh capital as part of efforts

to revive its sagging fortunes.

January 17, 2015

1) Indias first CNG (Compressed

Natural Gas) based train was

flagged-off by the Union Railway

Minister Suresh Prabhu on 15

January 2015 from which station?

Rewari (Haryana)

Explanation: Countrys first CNG-

based train was launched on

Rewari-Rohtak and Rewari to

Bikaner section by the Railway

Minister. These trains based on the

dual fuel system, diesel and CNG,

and will reduce greenhouse gas

emission and consumption of

diesel. The Indian railway plans to

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start more such trains on other

routes in due course to reduce

diesel consumption.

2) Central Board of Film

Certification (CBFC) chairperson

Leela Samson on 15 January 2015

tendered her resignation amidst

controversy of a film featuring Dera

Saccha Sauda chief Gurmeet Ram

Rahim Singh in the lead role being

cleared by the Film Certification

Appellate Tribunal (FCAT). What is

the name of this controversial film

that was earlier rejected clearance

for public screening by the CBFC?

MSG The Messenger of

God

Explanation: The CBFC had

refused to clear the film for public

screening following which