Current Affairs Questions & Answers - July 14, 2016

1)   Which country is running the world’s largest current account surplus post Brexit?

a. France
b. Germany
c. UK
d. Ireland
Answer  Explanation  Related Ques

ANSWER: Germany

Brexit will have a muted impact on India, according to Chief Economic Adviser Arvind Subramaniam. The economy cannot achieve 8-10 percent growth without an outward oriented strategy.

  • He also said economic growth is still above 7 percent despite exports falling for the past 17 months and India is the services sector powerhouse.
  • Subramaniam indicated India can achieve 15 percent export growth and can raise service export from 0.2 to 1.5 percent.
  • He also said Germany is running the world’s largest current account surplus

2)   What does GAAR stand for in the context of foreign portfolio investors on redemption and maturity of participatory notes?

a. General Anti Avoidance Rules
b. General Anti Action Rules
c. General Anti Affirmative Rules
d. None of the above
Answer  Explanation  Related Ques

ANSWER: General Anti Avoidance Rules

General Anti Avoidance Rules/GAAR should not apply to foreign portfolio investor on redemption and maturity of participatory notes, according to industry body ASSOCHAM.

  • The chamber said it was common for investors to gain economic exposure to Indian securities through P-notes
  • ASSOCHAM holds that existence of a P-Note arrangement or status of underlying Indian position referencing P-notes or passing economic benefits or status of underlying Indian position referencing P-notes or passing of economic benefits to P-note holders should not be the criteria for evaluation commercial substance at the FPI level.
  • The body also said GAAR provisions should not apply to FPI on redemption or maturity of P-notes

3)   How many new species of snailfish have been discovered by NOAA in the ocean floor of the Aleutian islands?

a. 12
b. 13
c. 14
d. 15
Answer  Explanation 


Trawl nets were used by a team of researchers from NOAA to discover important fish species such as cod in waters off Alaska.

  • The researchers have discovered 14 kinds of new snailfish. which can be found in both pools and oceans.
  • Additional species are likely to be found as scientists expand their time investigating areas such as Bering Sea Slope in waters 800 to 5200 feet deep or the 25.663 feet deep Aleutian Trench.
  • Abundance of rock fish, flatfish and other “bottom” fish found in the floor of the ocean were studied by the researchers.

4)   Comcast launched a USD 4.5 billion four part bond on 13th July to help fund its acquisition of which studio in Hollywood?

a. 21st century fox
b. Dreamworks Animation SKG
c. Big Pictures
d. None of the above
Answer  Explanation 

ANSWER: Dreamworks Animation SKG

Comcast has launched a USD 4.5 billion 4 part bond on 12th July 2016 to help fund the acquisition of Hollywood studio DreamWorks Animation SKG according to the new lead on the deal.

  • The USD 700 million 5 year tranche launched Treasuries plus 55bp, the $1.4 billion 10-year at T+85bp, the $1 billion 20-year at T+100bp, and the $1.4 billion 30-year at T+120bp.
  • Comcast is a cable TV and internet streaming service.

5)   Who was appointed as a senior executive in EXL on 13th July 2016?

a. Mike Toma
b. Mike Smith
c. Mike Thomas
d. None of the above
Answer  Explanation 

ANSWER: Mike Toma

Toma is joining EXL following more than a decade and a half’s experience with business outsourcing firm ADP

  • He was the senior VP and CIO of the company
  • He also served as CTO for ADP for 5 years.
  • This was after his startup was acquired in 2003

6)   Bengaluru based BPO firm Minacs has been acquired by which NYSE technology company?

a. Syntex
b. Syndex
c. Syncex
d. None of the above
Answer  Explanation  Related Ques

ANSWER: None of the above

NYSE listed technology firm Synnex Corporation has acquired Bengaluru based BPO firm Minacs for USD 420 million in a deal underlining consolidation in the business process management space.

  • Buyout also showcases the efforts in the BPM sector to gravitate towards higher end services and capabilities like analytics
  • PE firms CX Partners and Capital Square Partners which purchased Minaca from the Aditya Birla Group are exiting the firm.
  • This acquisition is Synnex’s second biggest in India.
  • In 2013, it had acquired BPO firm IBM Daksh for USD 505 million.

7)   Which former COO of Go Javas has joined captive logistics unit of Snapdeal, Vulcan Express as its COO?

a. Vijay Ghadge
b. Vijay Singh
c. Vijay Shahane
d. Vijay Rahane
Answer  Explanation  Related Ques

ANSWER: Vijay Ghadge

Vijay Ghagde has joined the Vulcan Express, a captive logistics unit of Snapdeal as the CEO

  • He was earlier the COO of e-commerce logistics company Go-Javas
  • Snapdeal holds 42 percent stake in GoJavas.
  • It is strengthening its supply chain and logistics capabilities investing INR 240 crore in Go Javas in 2 subsequent rounds in 2015
  • GoJavas was the logistics arm of Rocket Internet backed fashion retailer and is the largest logistics partner for Snapdeal

8)   Which news site has signed a deal to lifestream TV news shows on Twitter’s platform?

a. CNN
b. BBC
c. Reuters
d. Bloomberg
Answer  Explanation  Related Ques

ANSWER: Bloomberg

Micro-blogging site Twitter and Bloomberg Media have signed a deal to lifestream several media company’s news shows on Twitter platform
Partnership includes streaming rights show along with the network daily stock market coverage.

  • Twitter is one of the fastest ways to find out what is happening in global business and financial markets.

9)   Which political party has  left Nepal’s coalition government to partner with the main opposition party and filed a no-confidence motion against OM KP Oli?

a. Madhesi
b. Maoist
c. Nepal Congress Party
d. None of the above
Answer  Explanation 

ANSWER: Maoist

A political party that has left Nepal’s coalition government has partnered with the main opposition party Nepali Congress and filed a no-confidence motion against Pm Khadge Prasad Oli.

  • The motion was filed in the parliament after the Maoist party moved out of the government,indicating Oli had failed to honour past agreements
  • Oli became the PM in October 2015 heading Nepal’s 8th government in the past 10 years

10)   Who has been appointed the Minister of Foreign Affairs in Maldives?

a. Mohamed Asim
b. Dunya Maumoon
c. Khaleda Zia
d. None of the above
Answer  Explanation 

ANSWER: Mohamed Asim

He succeeds Dunya Maumoon who quit following her opposition to the death penatly that the government was planning to implement.

  • Mohamed Asim was earlier the High Commissioner to Bangladesh
  • He holds a PhD in political science and international relations from Australian National University, Canberra.
  • Maumoon became the foreign Minister following which there were reports of power struggle between the President and Dunya’s father and former president Mammon Abdul Gayoom.

11)   Indian American professor appointed dean of leading US University of North Texas, College of Information in US is _________________.

a. Dr Mahesh Kinshuk
b. Dr. Sarvesh Kinshuk
c. Dr. Ganesh Kinshuk
d. None of the above
Answer  Explanation 

ANSWER: None of the above

Dr. Kinshuk has been appointed as dean of the American University. He holds a bachelor’s degree in mechanical engineering from University of Rajasthan, a MS in mechanical CAD engineering from Scotland’s Strathclyde University and PhD degree from De Montfort University in England.

  • Since 2010, he served as Associate Dean at Athabasca University in Alberta Candada where he led the Faculty of S &T.
  • Dr. Kinshuk also served as Industrial Research Chair in Adaptivity and Personalisation in Informatics for the National Science and Engineering Council of Canada.

12)   HAL and which French company will set up a helicopter MRO centre for Indian and domestic customers using aero engines?

a. Honeywell
b. Safran
c. Tafran
d. Zafran
Answer  Explanation 

ANSWER: Safran

Hindustan Aeronautics Ltd and France’s Safran Helicopter Engines announced the setting up of a helicopter engines maintenance, repair and overhaul centre to service Indian and foreign customers using the aero engines of the French company

  • Centre will provide MRO services for Safran TM333 and co developed Shakti engines used in HAL choppers

13)   Which state’s assembly was restored by the SC on 13th July, 2016?

a. Jammu & Kashmir
b. Uttarakhand
c. HP
d. None of the above
Answer  Explanation 

ANSWER: None of the above

In an important judgement on 13th July, SC indicated that Arunachal Pradesh governor Jyoti Prasad Rajkhowa’s decision advancing session of state assembly by a month is violative of the Constitution and is liable to be quashed.

  • SC indicates steps and decisions taken by the legislative assembly pursuant to the governor’s December 2015 order are unsustainable and likely to be quashed.
  • New AP government headed by Kalikho Pul would have to step down now to make way for Congress government headed by Nabam Tuki
  • SC also struck down removal of speaker Nabam Rebia and said he would be restored back as Speaker of the House.
  • This marks the first time the apex court has put back a state government dismissed by the Centre under the President’s rule.

14)   Which book on Vijender Singh was authored by Rudraneil Sengupta?

a. Ringside with Vijender
b. Boxing with Vijender
c. Knockouts with Vijender
d. None of the above
Answer  Explanation 

ANSWER: Ringside with Vijender

The book was released on July 8, 2016 and is a book published by Juggernaut Books.

  • It showcases the life of pro boxer Vijender Singh post his transition.
  • The book also throws light on the Beijing Olympics bronze medallist to turn pro a year ahead of the Rio Olympics.

15)   SBI has signed an MoU with SINE in July 2016.  What does SINE stand for?

a. Society for Innovation and Entrepreneurial Development
b. Society for Innovation and Entrepreneurism
c. Society for Innovation and Entrepreneurship
d. Society for Invention and Entrepreneurship
Answer  Explanation  Related Ques

ANSWER: Society for Innovation and Entrepreneurship

State Bank of India in the second week of July 2016 has signed an MoU with the Indian Institute of Technology Society for Innovation And Entrepreneurship(SINE) to promote innovation by startups in the financial sector.

  • Deal also aims to evaluate start ups operating out of SINE or being promoted by SINE for early stage funding with the norms of the bank
  • SINE is an IIT-B incubator

16)   NBAGR accorded registered breed status of which sheep?

a. Kendrapara sheep
b. Vendrapara sheep
c. Chendrapara sheep
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Kendrapara sheep

National Bureau of Animal Genetic Resources in the first week of July 2016 accorded registered breed status to the Kendrapara sheep.

  • This is part of the research of Fisheries and Animal Resources Development (FARD).Department and researchers of Odisha Livestock Resources Development Society and College of Veterinary Science and Animal Husbandry of OUAT,
  • The Kendrapara sheep carries a rare gene mutation during a year-long research.
  • The genetically rare status will help to boost conservation effort to protect the sheep. Earlier, Odisha’s two buffalo and four cattle breeds were also registered at national level by NBAGR.
  • This is the 42nd sheep breed to be registered in India

17)   Which country celebrated its National Day on July 14, 2016?

a. Republic of France
b. Republic of Korea
c. Republic of Iraq
d. Both a and c
Answer  Explanation 

ANSWER: Both a and c

The President of India, Shri Pranab Mukherjee has extended his greetings and felicitations to the Government and people of the Republic of France on the eve of their National Day (July 14, 2016).

  • Current president of France is Francois Hollande
  • Iraq also celebrated its national day on July 14, 2016
  • Fuad Musum is the current President of Iraq

18)   ACC has approved the appointment of whom as CEO, NATGRID?

a. Shri AK Patnaik
b. Shri JB Patnaik
c. Shri Naveen Patnaik
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Shri AK Patnaik

Appointments Committee of the Cabinet has appointed AK Patnaik as the CEO of National Intelligence Grid or NATGRID.

  • Appointment of CEO will be effective from the date of assumption of charge of the post upto December 31, 2018 i.e. the date of his retirement on superannuation or until further orders, whichever is earlier.
  • He was earlier part of the Intelligence Bureau.