General - General awareness questions on current affairs

1)   What does InvIT stand for?
- Published on 27 Apr 17

a. Infrastructure Investment Trust
b. Infrastructure Vital Trust
c. Investment Infrastructure Trust
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Infrastructure Investment Trust

Explanation:
Infrastructure investment trust or InvIT is the new buzzword for money managers and infra companies. IRB Infra and Sterlite Power Grid's Indian Grid Trust are all set to sell InvITs.

IRB InvIT (Infrastructure Investment Trust) Fund, sponsored by IRB Infrastructure Developers, will launch its initial public offering (IPO) on May 3.

The issue would be available for subscription till May 5.

The IPO consists of a fresh issue aggregating up to Rs 4,300 crore and an offer for sale of up to 34,761,770 units by IRB Infrastructure Developers, Modern Road Makers, Aryan Toll Road, ATR Infrastructure and Ideal Road Builders.

The issue is being made through the book building process and in compliance with the InvIT regulation.

Around not more than 75% of the issue shall be available for allocation on a proportionate basis to institutional bidders, IRB said.

The investment manager and the selling unit holders, may, in consultation with the GCBRLMs (Global Co-ordinators and Book Running Lead Managers) and the BRLM (Book Running Lead Managers) allocate up to 60% of the institutional bidder category to anchor investors and strategic investors.

This is on a discretionary basis in accordance with the InvIT regulations.

Further, not less than 25% of the issue shall be available for allocation on a proportionate basis to other bidders, in accordance with the InvIT regulations, subject to valid bids being received at or above the issue price.

In case of under-subscription in any category, the unsubscribed portion in either category may be allotted to bidders in the other category at the discretion of the investment manager, in consultation with the GCBRLMs, the BRLM and the designated stock exchange.

As per InvIT regulation sponsor will hold 15% units for the initial three years.

What is InvIT?

  • InvIT is like a mutual fund a collective investment framework.
  • The sponsor is usually an infrastructure company which sets up a trust.
  • The trust raises capital by issuing units and uses that cash to buy a bunch of the sponsor’s projects which are already generating cash.
  • The units are typically purchased by pension funds, insurance companies and sovereign funds.
  • These funds are paid from the revenues generated by the infra projects. Under Indian rules, the sponsor has to retain 15 percent of the units for at least 3 years.
  • Thus the InvIT helps an infra company sell-off a part of its completed projects to new investors and secure funds for new projects. In a way, InvITs replace banks as funders for infra projects.
InvIT versus REITs
  • InvITs are like real estate investment trusts (REITs) - in that the REITs are backed by rent-generating real estate assets and InvITs by cash generating infra projects like roads or power grids or even power projects.
  • However, InvITs are different because the returns depend on both growth and on inflation.
  • Besides the sponsor and the trust, the InvIT has a project manager who manages the under construction projects and operates the completed assets.
  • The InvIT also has an investment manager who makes investment decisions related to the InvIT and oversees the project manager.


2)   Who has been appointed the CRPF DG w.e.f 26th April, 2017?
- Published on 27 Apr 17

a. Rajiv Rai Bhatnagar
b. Sudeep Lakhtakia
c. RK Panchnanda
d. None of the above
Answer  Explanation 

ANSWER: Rajiv Rai Bhatnagar

Explanation:
Senior IPS officer Rajiv Rai Bhatnagar was appointed as the new Director General of the Central Reserve Police Force (CRPF) on April 26, 2017.

His appointment comes two days after the CRPF lost 25 jawans in the deadly Sukma attack.

Bhatnagar will be replacing acting DG Sudeep Lakhtakia.

Currently, Bhatnagar serves as DG of the Narcotics Control Bureau–an ADG rank post which has temporarily been upgraded to a Special DG rank.

Bhatnagar belongs to the 1983 batch of the Indian Police Service (IPS).

In another key appointment, R K Pachnanda was appointed as DG of the Indo Tibetan Border Police (ITBP).

He'll be taking over from Krishna Chaudhary, who is set to retire in June this year.

Pachnanda is serving as DG of the National Disaster Response Force (NDRF), India's specialized force for responding to natural disasters and CBRN emergencies.

Pachnanda is an IPS officer of the 1983 batch, West Bengal cadre.


3)   Which Haryana town has been renamed?
- Published on 27 Apr 17

a. Ballabhgarh
b. Panchkula
c. Mohali
d. Gurugram
Answer  Explanation 

ANSWER: Ballabhgarh

Explanation:
Haryana Chief Minister Manohar Lal Khattar on 24th April, 2017 announced the renaming of Ballabgarh town in Faridabad as Balramgarh.

The process to change the name in official records may take a few months.

Local MLA Moolchand Sharma and the Raja Nahar Singh Society had been demanding for long that the town be renamed after its founder king Balram Singh.

Situated around 30 km from Delhi on National Highway-2, Ballabgarh is a town and a tehsil (sub-division).

The princely State was founded by Balram Singh in 1739. Ballabgarh means ‘the fort of Balram’.

Raja Nahar Singh, who ascended the throne of Ballabgarh in 1829, was the ruler of 101 villages.


4)   Which country was the first to open an honorary consulate in GIFT City?
- Published on 27 Apr 17

a. Belgium
b. France
c. UK
d. US
Answer  Explanation 

ANSWER: Belgium

Explanation:
Belgium has become the first country to open an honorary consulate office in Gujarat International Finance Tec-City (GIFT City).

Besides the Belgian Embassy in New Delhi, two Consulates-General in Mumbai and Chennai, and an honorary consulate in Kolkata, Belgium has expanded its diplomatic representation in India with this new office in Gandhinagar.

The consulate was inaugurated by Belgian Secretary of State for Foreign Trade, Pieter De Crem, at an event where Ajay Pandey, Managing Director and Group CEO, GIFT City, and members of a high-level delegation from Belgium were also present.

Hari Sankaran was nominated as Honorary Consul of the Kingdom of Belgium to the state of Gujarat.

Sankaran, who is the Vice-Chairman and MD, IL&FS, said Gujarat and Belgium have had strong historic ties around the diamond industry.

With Gujarat emerging as a pre-eminent centre for manufacturing, agriculture, and, now services through GIFT, the potential for increasing collaboration is manifold.

About GIFT City

  • GIFT is a central business district (CBD) located between Ahmedabad and Gandhinagar in the state of Gujarat.
  • GIFT is built on 886 acres of land to provide high-quality physical infrastructure with facilities like electricity, water, gas, district cooling, roads, telecoms and broadband services to woo finance and tech firms to relocate their operations from Mumbai, Bangalore, Gurgaon etc.
  • GIFT includes a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and other service units.
  • The likely cost of the GIFT City project is INR 70,000 crore.
  • Gujarat International Finance Tec-City Company Limited (GIFTCL) is responsible for developing and implementing the project.
  • GIFTCL is a joint venture of Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS).


5)   A Joint Operational doctrine has been launched to deepen synergies among which three services?
- Published on 27 Apr 17

a. Army, Navy, Air Force
b. Army, Navy, CRPF
c. IAF, Navy, CRPF
d. Army, IAF, CRPF
Answer  Explanation 

ANSWER: Army, Navy, Air Force

Explanation:
Joint operational doctrine aimed at providing deeper operational synergies among the tri-services was unveiled by the chairman of the chiefs of staff committee (COSC) and Navy Chief Admiral Sunil Lanba in presence of Army Chief Gen Bipin Rawat and IAF Chief B S Dhanoa.

The doctrine is aimed at coherently dealing with all possible security threats faced by India such as conventional and proxy wars.

This document is the second edition of the joint doctrine.

The first edition of the document was released around eight years ago.

The doctrine proposes joint training of personnel, unified command and control structure.

In addition, it supports tri-service approach to modernise the tri-services. The doctrine has said that the Higher Defence Organisation will facilitate inter-Service coordination in planning, execution of operations and force planning.

The doctrine facilitates the establishment of a broad framework for the conduct of operations across all the domains (land, air, sea, space and cyber-space).

The doctrine pushes for effective deterrent capabilities to protect India’s strategic interests along the Northern, Western and Eastern borders and sensitivities along the Line of Control (LoC) and Line of Actual Control (LAC).

The doctrine calls for the integration of the layered hierarchies of the national security structures to reap the most out of the available expertise.

The doctrine also pushes for having an ‘Integrated Theatre Battle’ as the guiding philosophy for evolution of war fighting strategies.

It has called for coordination of agencies like RAW, Intelligence Bureau and Intelligence organisations of the para-military forces as part of the Joint Intelligence Committee under the National Security Adviser.


6)   Which Muslim majority region in China is home to the Uighur ethnic minority?
- Published on 26 Apr 17

a. Xinjiang
b. Dunhuang
c. Fengtai
d. Xicheng
Answer  Explanation 

ANSWER: Xinjiang

Explanation:
China has banned Islamic names for babies in Muslim-majority Xinjiang region, home to the Muslim Uighur ethnic minority.

According to the move, children with the banned names like Saddam or Midina will not be able to get a residence permit called “hukou”, which is required for access to medical and educational services.

This is just the latest in a slew of new regulations restricting religious freedom in the name of countering religious extremism, as per Human Rights Watch.

The Xinjiang government claims the names were banned because of their religious connotation, which can “exaggerate religious fervour”.

On April 1, the authorities in Xinjiang had also imposed new rules banning “abnormal” beards or a full veil and warned people of punishments for refusing to watch state TV or radio programmes.

Conflicts between the Uighur and the Han, the majority ethnic group in China and who also control the government, are common.

Beijing usually attributes the violence to Islamist groups and secessionists whereas Uighur groups in exile consider the conflict to be a result of repression by the Communist regime.

Xinjiang: Know More

  • Area: 1.665 million km²
  • Population: 21.81 million (2010)
  • Largest city: Ürümqi
  • Language: Uyghurs
  • Major Colleges and Universities: Xinjiang University, Shihezi University


7)   Which city will India's first and longest ropeway connect Elephanta Islands to?
- Published on 26 Apr 17

a. Mumbai
b. Pune
c. Alibaug
d. Kolhapur
Answer  Explanation 

ANSWER: Mumbai

Explanation:
India’s first and longest ropeway to connect Mumbai with the famous Elephanta Island in the Arabian Sea is planned to be constructed by the Mumbai Port Trust.

The 8-km ropeway will begin from Sewri in Mumbai’s east coast and end at Raigad district’s Elephanta Island, globally renowned for Elephanta Caves, a Unesco World Heritage site.

Known locally as Gharapuri Caves, the small 16 sq. km island has several archaeological remains pointing to its rich cultural heritage, including the famous temples carved out of rocks.

Elephanta Caves: Know More

  • Elephanta Caves are a network of sculpted caves located on Elephanta Island, or Gharapuri in Mumbai Harbour, 10 kilometres to the east of the city of Mumbai in the Indian state of Maharashtra.
  • Address: Gharapuri, Maharashtra 400094
  • Designated as world heritage site: 1987 (11th session)


8)   Which is the world's fifth largest military spender?
- Published on 25 Apr 17

a. India
b. South Korea
c. China
d. Australia
Answer  Explanation 

ANSWER: India

Explanation:
India’s military expenditure grew around 8.5 per cent in 2016, making it the world’s fifth largest spender at USD 55.9 billion, figures released by the Stockholm International Peace Research Institute (SIPRI).

As per the figures, the US remains the world’s largest military spender registering a growth of 1.7 per cent between 2015 and 2016 to $611 billion.

Four others in the top 15 spenders include China, Japan, South Korea, Australia.


China is second on the list spending $215 billion, an increase of 5.4 per cent.

Russia increased its spending by 5.9 per cent to $69.2 billion, making it the third largest spender.

Global military spending amounted to 2.2% of the worldwide GDP.

Military spending as a share of GDP, was highest in the Middle East and lowest in the Americas.

In Asia and Oceania, military expenditure increased by 4.6% in 2016 spurred by many tensions in the region such claims of territorial rights made by various countries in the South China Sea.

The US is the top spender whose military expenditure grew 1.7% between 2015 and 2016 to USD 611 billion.

The growth in US military expenditure suggests the end o the trend of decreases in spending that resulted from the economic crisis and the withdrawal of US troops from Afghanistan and Iraq.

Even now the expenditure of US remains 20% lower than its peak in 2010. China spent USD 215 billion. Russia spent USD 69.2 billion making it this edition's third largest spender.

Saudi Arabia which was the third largest spender in 2015 is ranked at 4th position in 2016 with a spending of USD 63.7 billion.

Pakistan did not figure in the list of top 15 spenders and it spent USD 9.93 billion. Military expenditure in Western Europe has increased for the second consecutive year.

Falling oil revenue forced many oil-exporting countries to reduce military spending.

SIPRI: Know More

  • SIPRI was established in 1966.
  • It is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
  • The organization provides data, analysis and recommendations to policymakers, researchers, media and the interested public.


9)   Which country has approached NASSCOM for support in ICT capacity building?
- Published on 21 Apr 17

a. Mauritius
b. Maldives
c. Malaysia
d. Indonesia
Answer  Explanation  Related Ques

ANSWER: Mauritius

Explanation:
Mauritius has approached Indian information technology industry body NASSCOM for support in building capacity in Information and Communication Technology (ICT) skill needs.

ICT has become an important activity to Mauritius. The country has started a dialogue with NASSCOM for skill development in the sector.

According to him ICT is already contributing by five per cent to the national GDP and holds lot more potential.

The proposed Indo-Mauritius Comprehensive Economic Cooperation and Partnership Agreement is expected to be signed by end of this year as both countries finalised the areas of exchange.

Implementation of the CECPA between the two countries is likely to be signed by the end of this year which will help greater cooperation between two countries.

Areas of cooperation identified are financial services, ICT, health, education, R&D and construction.

He invited Indian investment in Mauritius to exploit the African market as the country offers preferential access through agreements.


10)   Which city was honoured with a dedicated naval ship?
- Published on 21 Apr 17

a. Chennai
b. Thrissur
c. Kolkata
d. Delhi
Answer  Explanation 

ANSWER: Chennai

Explanation:
Naval ship ‘INS Chennai’ was formally dedicated to the city in the presence of Chief Minister K Palaniswami and Flag Officer Commanding-in-Chief, Eastern Naval Command, Vice-Admiral HCS Bisht.

The dedication ceremony of the ‘P15A Guided Missile Destroyer’ was marked by a series of drills and events, besides unveiling of a plaque by Palaniswami at the Chennai Port Trust

The navy was fully geared to meet the challenges at sea.

INS Chennai has been anchored here since April 15 and was visited by more than 5,000 people, including 2,000 students.


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