Current Affairs Questions & Answers - Dec 01, 2015

1)   Global Innovation index released by Cornell University, INSEAD and WIPO on 30th November 2015 has placed India at which rank in 2015?

a. 79
b. 80
c. 81
d. 82
Answer  Explanation  Related Ques


Global Innovation Index/GII released by INSEAD, World Intellectual Property Organisation and Cornell University and their knowledge partners like CII has placed india at rank 81 in 2015. India ranked 76 in 2014 and 66 in 2013. It was rank 64 in 2012. GII covers 141 nations across the world and uses 79 indicators across numerous themes. Rankings are based on data collected during earlier years.

2)   FDI up to ___% is now permitted in e-commerce companies provided such firms engage in B2B e-commerce.

a. 50
b. 75
c. 100
d. 95
Answer  Explanation  Related Ques


FDI up to 100% under the automatic route has been permitted in companies providing B2B e-commerce. Such entities will only be permitted to undertake retail trading through e-commerce under the following circumstances:

- Manufacturer will sell products manufactured in India through e-commerce retail

- Single brand retail trading entity operating via brick and mortar stores will undertaken retail trading through e-commerce

- India manufacturers will only be able to sell own single brand products via e-commerce retail

3)   Government has granted in principle approval to 20 NIMZs. What is the full form of NIMZ?

a. National Indian Manufacturing Zones
b. National Investment and Manufacturing Zones
c. National Investing and Manufacturing Zones
d. None of the above
Answer  Explanation  Related Ques

ANSWER: National Investment and Manufacturing Zones

Government has granted in principle approval to 20 National Investment and Manufacturing Zones, 12 of which are located outside DMIC namely:

1. Nagpur, Maharashtra;
2. Tumkur, Karnataka;
3. Chittoor, Andhra Pradesh;
4. Prakasam, Andhra Pradesh;
5. Medak, Telangana;
6. Kolar, Karnataka;
7. Bidar, Karnataka;
8. Gulbarga, Karnataka;
9. Jajpur, Odisha;
10. Ramanathapuram, Tamil Nadu;
11. Auraiya, Uttar Pradesh
12. Jhansi, UP

4)   Japan is set to give India development assistance loan worth how much for Chennai and Ahmedabad Metro projects?

a. INR 5479 crore
b. INR 4410 crore
c. INR 5000 crore
d. None of the above
Answer  Explanation 

ANSWER: INR 5479 crore

Japan will provide development assistance loan worth INR 5479 crore for Chennai and Ahmedabad Metro development projects. An agreement has been signed for JPY 19.981 billion (about Rs 1,069 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (about Rs 4,410 crore) for Ahmedabad Metro Project.

5)   India has imported how many LT of pulses till September 2015, according to estimates by Commerce and Industry Ministry?

a. 22.35
b. 22.36
c. 22.37
d. None of the above
Answer  Explanation  Related Ques

ANSWER: 22.37

India has imported 23.7 LT of pulses till September at USD 1612 mn till September in the current fiscal. During the April-September period, maximum inward shipments of lentils came from Canada at 9.30 lakh tonnes, followed by 5.52 lakh tonnes from Myanmar and 2.23 lakh tonnes from Australia. In 2015, the price of pulses touched a high of INR 210 per kg.

6)   India receives USD _________billion FDI in Oct-Sep period  2015

a. 32.63
b. 32.85
c. 32.87
d. 32.89
Answer  Explanation 

ANSWER: 32.87

Sectors which attracted FDI in this period comprise computer software and hardware, services sector, trading, automobile, construction activities, chemicals, power, pharmaceuticals, industrial machinery and food processing. In the defence and railway related components, the country received only USD 0.08 million (INR 0.48 crore) and USD 23.2 million (INR 146.65 crore) FDI during the October-September period. Retail trading attracted USD 70.75 million investment in this period.

7)   India’s Q2 GDP was pegged at ____ percent compared to 7% in the previous quarter.

a. 7.3
b. 7.4
c. 7.5
d. 7.6
Answer  Explanation  Related Ques


India’s second quarter GDP grew at 7.4 percent as against 7% in the previous quarter boosted by a nominal increase in agriculture sector growth, which stood at 2.2 percent, compared to 1.9 percent QoQ. Mining sector grew at 3.2 percent versus 4 percent while manufacturing growth stood at 9.3 percent, compared to 7.9 percent QoQ.Growth in output of India's eight "core" sectors for the month of October was flat at 3.2 percent due to drop in crude oil and steel production. The growth remain unchanged when compared to the month of August. The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.

8)   April-October fiscal deficit has been estimated at INR ___ lakh crore, according to GoI estimates

a. 4.10
b. 4.11
c. 4.12
d. 4.13
Answer  Explanation 

ANSWER: 4.11

Fiscal deficit for April to October narrowed to INR 4.11 lakh crore as against INR 4.75 crore in the same period last year (2014-2015). Total spending stood at at INR 10.22 lakh crore, 57.5 percent of FY16 estimate, and net tax receipts for the period stood at INR 4.29 lakh crore. Non-plan spend was INR 7.51 lakh crore, 57.2 percent of FY16 estimate, and Plan spend was INR 2.71 lakh crore, 58.2 percent of FY16 estimate. Revenue deficit was INR 2.88 lakh crore, 72.9 percent of FY16 estimate, and non-tax revenue at INR 1.62 lakh crore, 73 percent of FY16 estimate. April-October revenue receipts stood at INR 5.91 lakh crore, 51.7 percent of FY16 estimate GE Step Ahead.

9)   Which two sectors have taken maximum APAs with tax authorities?

a. Information Technology enabled Services and Software Development
b. Defence and manufacturing
c. Telecom and manufacturing
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Information Technology enabled Services and Software Development

This Advance Pricing Agreements in India are for reducing litigation and operating smoothly while countering tricky transfer pricing cases, officials said.The Income Tax department has signed 31 such agreements so far with different sectors of the economy. CBDT is the apex policy making body of the IT department. An Advance Pricing Agreement is signed between a taxpayer and the tax department on an appropriate transfer pricing methodology for determining the value of assets and resulting taxes on intra-group overseas transactions.

10)   NXP semiconductors NV has appointed whom as the new CFO on 30th November 2015?

a. Dan Johnson
b. Dan Smith
c. Dan Durn
d. None of the above
Answer  Explanation 

ANSWER: Dan Durn

NXP Semiconductors NV has indicated that Dan Durn, financial chief of Semiconductor Ltd will be the new CFO. Their current CFO Peter Kelley will now focus on strategy as well as mergers and acquisitions prior to retirement in 2017. Durn’s appointment is from December 7, 2015. Durn will also be executive vice president.

11)   Customers have switched from one brand to another on account of poor user experience, representing an opportunity of USD _____ billion according to an Accenture report.

a. 330
b. 331
c. 332
d. 333
Answer  Explanation 


Customers have switched from one brand to another and this switching economy has created opportunity worth INR 331 billion, according to an Accenture report entitled Global Consumer Pulse Research: An Indian Perspective, according to which 88% of the respondents from India said they switched companies in at least one industry due to poor service. This is significantly higher in India than the global average of 64% where switching due to poor service is more prevalent in service-oriented industries like banking and internet service. Global study covered nations like Germany, Japan and the UK.

12)   Scientists have developed a soft, flexible and stretchable keyboard using a type of rubber known as a ____________ that can be wrapped around any object.

a. Dielectric elastomer
b. Unilectric elastomer
c. Trilectric elastomer
d. Quadrilectric elastomer
Answer  Explanation  Related Ques

ANSWER: Dielectric elastomer

This keyboard utilised the benefits of rubber devices that flex and stretch. Keyboard was made from a single laminated structure with two sensing layers oriented at 90 degrees apart utilising mechanical coupling while at the same time still provided an electrical separation. A total of 9 different positions were distinguished within the sensor keyboard.

13)   Which company has announced its exit Pakistan due to restrictions imposed on its services by the government which has been demanding access to the user data of the Canadian smartphone maker on 30th November 2015?

a. Vodafone
b. British Telecom
c. Blackberry
d. Nokia
Answer  Explanation 

ANSWER: Blackberry

A statement posted on BlackBerry’s website that the service will no longer operate in Pakistan from 30th November 2015 because “remaining in Pakistan would have meant forfeiting our commitment to protect our users’ privacy”. PTA or Pakistan Telecom Authority notified that BlackBerry Enterprise Services would not be allowed to operate December onwards for security reasons. PTA had clarified that other Blackberry services such as messenger and Blackberry internet services (BIS) would continue.

14)   Foxconn has picked up a 10% stake in which company on 30th November 2015 for strengthening the Taiwanese company’s presence in India?

a. GoMagic
b. MoMagic
c. SoMagic
d. None of the above
Answer  Explanation  Related Ques


Foxconn has acquired a 10 percent stake in MoMagic Technologies for an amount which has not been publicly disclosed. MoMagic is a mobile internet company backed by Mediatek offering analytics—driven marketing solutions to enterprises, startups and e-commerce players. FIH subsidiary Wonderful Stars has acquired the stake in MoMagic.

15)   Which country’s former premier was granted bail after surrendering in a USD 2 billion graft case on 30th November 2015?

a. Bangladesh
b. Pakistan
c. Afghanistan
d. Uzbekistan
Answer  Explanation  Related Ques

ANSWER: Bangladesh

Bangladesh’s ex premier and key-opposition Bangladesh Nationalist Party (BNP) chief Khaleda Zia was on 30th November granted bail after she surrendered before a court here over a nearly USD 2 billion graft case dating back to 2007 when she exhausted all legal options to evade the trial. The ruling was issued after she filed the petition while it was subsequently upheld by the apex court as the statutory Anti-Corruption Commission (ACC) challenged the High Court order.

16)   Over 100 sunshine countries have come together as a group to get better deals in the renewable energy market in a partnership between India and France on 30th November 2015. What is this group called?

a. Global Solar Alliance
b. International Solar Group
c. International Solar Alliance
d. None of the above
Answer  Explanation  Related Ques

ANSWER: International Solar Alliance

Indian PM Narendra Modi and French President Francois Hollande launched the International Solar Alliance on the sidelines of the climate summit at Paris. This group of more than 100 sunshine countries will work together to get better deal in the growing renewable energy market.

17)   Which clean tech initiative has been launched by Microsoft founder Bill Gates on 30th November 2015?

a. Breakthrough Energy Group
b. Breakthrough Energy Summit
c. Breakthrough Energy Coalition
d. None of the above
Answer  Explanation 

ANSWER: Breakthrough Energy Coalition

Microsoft founder Bill Gates on 30th November 2015 launched a Breakthrough Energy Coalition, an international group of 28 titans of industry who will invest in technologies that will bring affordable, reliable and carbon free power from the research lab to the market including business leaders like Mukesh Ambani, Ratan Tata, Jack Ma and Mark Zuckerberg and is expected to give a huge push to clean energy. Coalition has University of California US as its partner and was part of 'Mission Innovation', an initiative of 19 governments including US, India, Germany, China, Australia, Brazil, Canada, Chile, France, Denmark, Indonesia, South Korea, Norway, Saudi Arabia, Sweden, Japan, UAE and UK.

18)   India has launched the GIAN scheme to boost the quality of the country's higher education through international collaboration. What is the full form of GIAN?

a. Global Indian Academic Network
b. Global International Academic Network
c. Global Indian Advancement Network
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Global Indian Academic Network

The human resource development (HRD) ministry initiative was launched at IIT Gandhinagar by HRD Minister Smriti Irani, and IIT Kharagpur. GIAN will deliver courses in Indian institutions in partnership with foreign universities and leading academicians and is connected with Make in India campaign and IMPRINT programme. Its nodal institution is IIT Kharagpur.

19)   Which nation has taken an initiative to create alternative media platform for the emerging economies by hosting the first media summit of countries belonging to the Brazil-Russia-India-China-South Africa (BRICS) grouping on 30th November 2015?

a. Russia
b. Brazil
c. India
d. China
Answer  Explanation  Related Ques


A total of 25 media organisations are participating in the summit, which hopes to create a new institutional framework that would be tailored to benefit the media of five emerging economies, which have deep linkages with the Global South. It will be held on December 1 2015. Initiative follows the formation of the New Development Bank. The media summit has been launched with The Hindu group of publications, the Brazil Communication Company, Russia Today International News Agency, and South Africa’s Independent Media.

20)   Executive Board of IMF on Monday decided to include which currency into basket of currencies that make up its SDR or Special Drawing Right?

a. Australian dollar
b. Chinese yuan
c. Swiss francs
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Chinese yuan

Executive Board of IMF has decided to include the renminbi (yuan), into its basket of currencies that make up the IMF’s Special Drawing Right (SDR). The decision was taken during the IMF’s five-yearly review of the basket of currencies. SDR was created by IMF in the late 1960s and allows members to draw upon reserve currencies in the basket. Currently, these include dollar, euro, yen and pound sterling. Yuan will now be included from October 1, 2016.

21)   RBI liberalised ECB framework by _______ the limit for Indian companies for raising funds with minimum average maturity of 3 years.

a. Increasing
b. Decreasing
c. Maintaining
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Increasing

Reserve Bank of India has taken the step towards fuller capital account convertibility by liberalising the ECB framework by increasing the limit for Indian companies for raising funds with minimum average of 3 years to USD 50 million from 20. Companies can also take ECB route now for raising 10 year funds capped 5 years now. RBI has also expanded the list of overseas lenders to include long term lenders like sovereign wealth funds, pension funds and insurance companies.

22)   Which boxer won the WBA, IBF, WBO and IBO as well as the Ring Unified heavyweight championship on 28th November 2015?

a. Britain’s Tyson Fury
b. Ukraine’s Wladimir Klitschko
c. India’s Vijendar Singh
d. None of the above
Answer  Explanation 

ANSWER: Britain’s Tyson Fury

Fury beat the Ukrainian player to become World Boxing Association (WBA) (Super), International Boxing Federation (IBF), World Boxing Organization (WBO), International Boxing Organization (IBO) and The Ring unified heavyweight champion in a bout held in Düsseldorf, Germany.

23)   Which famous sport legend died on 29th November 2015?

a. Joe Marston
b. Joe Smith
c. Joe Black
d. None of the above
Answer  Explanation 

ANSWER: Joe Marston

The Aussie footballer died on account of health issues on 29th November 2015. He was the first Australian to appear in the FA cup final during the 1950s. The Football Federation Australia had created the Joe Marston Medal, which is awarded to the best player in the A-League grand final, to honour him. The legendary footballer has also been conferred the MBE and included in the Sport Australia Hall of Fame.

24)   Mayyazhi Mahotsavam (Fete de Mahe), a three-day cultural extravaganza, started on 29 November 2015 at Mahe in which state?

a. Kerala
b. Karnataka
c. TN
d. WB
Answer  Explanation  Related Ques

ANSWER: Kerala

The festival is being organised jointly by the Department of Tourism and the Legislative Assembly Secretariat at Mahe, which is Puducherry’s exclave in Kerala. It will conclude on December 1, 2015. National as well as international performers will be part of this festival called Fete de Mahe.

25)   Anil Khanna has been re-elected as president of which body?

a. CTF
b. ATF
c. ITF
d. None of the above
Answer  Explanation  Related Ques


Anil Khanna was on 28th November 2015 re-elected as president of the Asian Tennis Federation. He was elected for 4 years at the Colombo AGM of this tennis body. He is currently also the president of AITA apart from being the vice president of the International Tennis Federation.

26)   Which member of CBDT has been allowed the post of Chairperson in addition to his own duties?

a. A. K. Jain
b. D. K. Jain
c. T. K. Jain
d. S. K. Jain
Answer  Explanation  Related Ques

ANSWER: A. K. Jain

Mr. A. K. Jain has been appointed as chairperson CBDT in addition to duties and responsibilities as a member of this tax body following the superannuating of Anita Kapur. Kapur will now be advisory on Tax Reforms on contract basis.

27)   Sri J. P. Nadda has launched the IPV as part of commitment to the “Global Polio Endgame Strategy” at a function, on 30th November in which state(s)?

a. Assam
b. Gujarat
c. Punjab
d. All of the above
Answer  Explanation  Related Ques

ANSWER: All of the above

IPV has been introduced along with oral polio vaccine. It will first be introduced in 6 states namely Assam, Gujarat, Punjab, Bihar, Madhya Pradesh, and Uttar Pradesh. IPV injection will be given to children below one year of age along with the third dose of the Oral Polio Vaccine (OPV) at the routine immunisation sessions free of cost.

28)   TAC has been established in states having scheduled area. What does TAC stand for and which states is it being established in?

a. Tribal Advisory Council and AP, Chhattisgarh, Gujarat, HP, MP and Jharkhand
b. Tribal Advisory Council and AP, MP, HP, Chhattisgarh, Gujarat, Jharkhand, Maharashtra, Odisha, Rajasthan and Telangana
c. Tribal Advisory Council and TN and WB
d. Both B and C
Answer  Explanation  Related Ques

ANSWER: Both B and C

Tribal Advisory Council has been launched in States having scheduled areas namely Andhra Pradesh, Chhattisgarh, Gujarat, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Rajasthan and Telangana. Besides, two other States namely, Tamil Nadu and West Bengal, have also set up TAC. The TAC shall comprise not more than 20 members of whom 3/4th will be reps of ST in Legislative Assembly of the State. TAC will give advise on matters like welfare and advancement of ST and make rules for the same.

29)   President of India Shri Pranab Mukerhee extended greetings to which 2 nations on their national day?

a. Central African Republic, Republic of Romania
b. Central African Republic, Republic of Tanzania
c. Central African Republic, Republic of Ethiopia
d. None of the above
Answer  Explanation 

ANSWER: Central African Republic, Republic of Romania

Sri Pranab Mukherjee, President of India, extends greetings to Central African Republic and Romania on their National Day. Her Excellency Ms. Catherine Samba Panza, President of the Central African Republic and His Excellency Mr. Klaus Iohannis, President of Romania, were also wished by the president.