Current Affairs Questions & Answers - July 19, 2016

ANSWER: USD 7.51 billion

Explanation:
Falling prices of the precious metal in global as well as domestic markets is seen as a contributory factor for the decline. Gold imports were pegged at USD 7.51 billion in April-June 2015. Inbound shipments contracted for the fifth consecutive month in June by 38.5 percent to USD 1.20 billion, as per data released by the Commerce Ministry.

• Contractions in imports helped to lower trade deficit to USD 8.11 billion in the previous month as against USD 10.82 billion in June 2015.
• India is one of the leading gold importers in the world and imports take care of demand of jewellery industry.
• India’s CAD narrowed to 1.3 percent of GDP in Q3 of 2015-2016 as against 1.5 percent in the same period of the previous year, on account of lower trade deficit.
• Government has announced launch of 4 tranche of sovereign gold bond scheme from the day to check the demand for physical gold.
• It has netted 3.1 tonnes of idle household as well as temple gold under the monetisation scheme since November.
• Silver imports too fell to USD 249.39 million in June as against USD 342.37 million in the same month in 2015.
• Shipments of pearls and semi-precious stones displayed a decline of 13.52 percent in June

ANSWER: Atal Pension Yojana

Explanation:
Government of India has released INR 100 crore towards co-contribution for Atal Pension Yojana for 2015-2016.

• As per the scheme, those who have registered before March 31, 2016 will get co-contribution from the government which will be 50 percent of the subscriber contribution up to a total of INR 1000.
• Co-contribution will be for 5 years from 2015-2016 to 2019-2020.
• Government of India through PFRDA has released co-contribution for 2015-2016 for 16.96 lakh eligible APY subscribers amounting to INR 99.57 crore.
• Subscribers lacking pending contribution in accounts till March 2016 won’t be paid with co-contribution
• Government is implementing Atal Pension Yojana through banks and Department of Post.
• Total number of subscribers registered under this yojana has crossed 30 lakh as on June 30,2016.

ANSWER: 10

Explanation:
Government of India is planning to increase the share of coastal shipping to 10 percent in the modal cargo mix by 2020, reducing the toll on rails and roads.

• Share of waterways transportation mode in the modal cargo mix is around 7 percent now.
• Government envisions increasing the share of coastal shipping in modal cargo mix to 10 percent by 2020 from the current share so as to lower dependance on rail and road sectors for domestic cargo transportation.
• Government has also provided in-principle approvable for setting up of 4 new ports in Tamil Nadu, West Bengal, Andhra Pradesh and Maharashtra.
• India has 12 major ports under the control of the Centre besides 205 non-major ports under the state government/UT.
• Percentage share of cargo handled by major ports in 2015-2016 stood at 56.5 percent as against 43.5 percent by non major ports.
• Government’s recent estimate has indicated promotion of coastal shipping of six commodities resulting in annual saving of INR 40,000 crore.
• Sagarmala project aims to double the share of coastal and inland waterways in transport.
• Government can expand port capacity, build new ports and ports in relation to industrial and manufacturing clusters as well.

ANSWER: 5

Explanation:
Country’s coal imports have fallen 5 percent in the first two months of 2016-2017 and the number is expected to reach 160.16 MT in the current fiscal.

• Trend of fall in import of coal has continued in 2016-2017 while for the period April-May 2016-2017, coal imports have lowered by 5 percent as against corresponding period of 2015.
• Import of coal is projected for 2016-2017 by Niti Aayog and is around 160.16 MT.
• Increased production by CIL produced around 80 percent of coal in the nation while the import of fossil fuel has fallen from 217.78 MT in 2014-2015 to 199.88 MT in 2015-2016.
• CIL has a blend of strategies for narrowing the domestic demand supply gap to address medium and short term imperatives and technological as well as HR related issues.

ANSWER: Hall of Fame Championships

Explanation:
Ivo Karlovic offered proof that tennis careers blossom after players cross their prime, with the 37-year-old being able to beat Luxembourg’s Gilles Muller 6-7(2), 7-6(5), 7-6(12).

• Karlovic won the grass court Hall of Fame Championships in Newport, Rhode Island turning into the oldest champion in the history of the tournament.
• Karlovic became the oldest tour winner since Marty Riessen in Lafayette in 1979.
• Karlovic was also the oldest man to reach the third round of grand slam for 25 years at French Open 2016.
• He lost to runner up Andy Murray finally at Roland Garros

ANSWER: Malaysian

Explanation:
Newly launched startup Alterbeat has announced it has been chosen for Cohort 3 of the MaGIC accelerator programme funded by the Malaysian government.

• Alterbeat is the only Indian startup to be chosen for the accelerator programme
• Close to 50 startups were selected from 500 applications across 30 nations.
• Launched in February 2016, Alterbeat is a platform which enables people to pursue hobbies and careers in certain fields
• MAP is an initiative of Malaysian Global Innovation and Creativity Centre (MaGIC)
• This is a government agency which boosts startups and entrepreneurial ventures.
• MaGIC Accelerator Program will help to tackle problems across the ASEAN region according to Alterbeat’s CEO.

ANSWER: Centre for the Development of Telematics

Explanation:
Centre for the Development of Telematics, which is a state run telecom R&D company has developed and demonstrated the world’s first open standards based machine to machine communications platform.

• M2M is a worldwide standards initiative backing this programme.
• The world’s first open one M2M complaint middleware platform was internationally showcased.
• This is interoperable according to C-DOT ED Vipin Tyagi.
• M2M is a commonly referred cellular network driven remote communication between entities or machines for automation needs
• Application varies from smart home systems and appliances to connected vehicles
• Encrypted and authenticated technology platform in concordance with standards is critical adding this approach will encourage entrepreneurs and innovators.
• Middleware solution will facilitate M2M space in India and the rest of the world and develop ecosystems in synchronising of related services on a single open platform

ANSWER: C. Vijay Kumar

Explanation:
Amidst concerns of slowing growth, HCL Technologies has appointed C.Vijay Kumar as the COO in addition to role as president of Infrastructure Services which adds to around 40 percent of the revenue of the company.

• He will report to current CEO Anant Gupta.
• COO will focus on execution.
• Gupta was elevated to position of CEO 5 months after being appointed COO of HCL Technologies
• Indian IT industry is facing a challenge through Brexit

ANSWER: Deval Parikh

Explanation:
US based international retail major Brightstar has appointed Deval Parikh as the CEO and director of Beetel Telectech Limited, w.e.f 18th July 2016.

• Parikh will lead Beetel business lines to include handset and accessories services along with IT peripherals and fixed line telephone enterprise solutions.
• Parikh joins Brightstar from Reliance Jio where he served as SVP of the mobility business and also led the youth segment and national as well as regional roles.
• Parikh has also worked at Virgin Mobile before this

ANSWER: ARM Holdings PLC

Explanation:
Japan’s SoftBank Group Corp is set to purchase British chip designer ARM Holdings PLC for USD 32 billion.

• ARM is a valuable tech company listed in London and is a mobile processing major.
• It has processor and graphics technology used by Samsung, Huaweu and Apple in the in-house designed microchips.
• Deal is the largest for SoftBank and one of the largest in the European technology industry.

ANSWER: Newshunt

Explanation:
Dailyhunt (formerly called Newshunt) an app aggregating local language content has picked up strategic stake in Greynium Information Technology which publishes vernacular portal OneIndia.

• Dailyhunt is backed by Matrix Partners and Sequoia Capital.
• It will acquire 15 percent in OneIndia for around INR 20 crore according to sources.

ANSWER: 4F2

Explanation:
Satellite belonging to London based mobile satellite communication company recently moved over India, above the Equator in the space travelling close to 4000 km over previous months.

• 4F2 is one of the 12 satellites owned by Inmarsat fired from satellite control centre in London for the spacecraft to move from one slot to another.
• Satellite weighing close to 6000 kg was built at a cost of USD 250 million and launched in 2005.
• It was placed over Africa providing coverage to Africa and EU.
• The decision to be moved was at the cost of USD 10 million and Inmarsat 4F2 joined a group of more than 80 satellites belonging to countries in the eastern longitude in the geostationary orbit.
• Orbital slots are allotted to companies and nations by International Telecommunications Union, part of the UN headquartered in Switzerland.

ANSWER: Epilepsy

Explanation:
Sun Pharma Advanced Research Company and parent Sun Pharma have entered into a licensing agreement for Elepsia tablets used in the treatment of epilepsy in the US market for payment of USD 10 million.

• According to the agreement,SPARC will license Elepsia XRTM (Levetiracetam Extended Release Tablets) in a partnership with Sun Pharma.
• Elepsia XRTM was approved by USFDA in March 2015.

ANSWER: None of the above

Explanation:
BJP leader and nominated RS member Navjot Singh Sidhu resigned from the upper house of the Parliament.

• Sidhu’s resignation has been accepted by RS chairman Hamid Ansari.
• Cricketer turned politician Sinhu was nominated to the RS in April this year.
• In the 2014 LS elections, FM Arun Jaitley contested from Amritsar, a constituency Sidhu used to contest from.

ANSWER: 9

Explanation:
Six wealthiest countries in the world hold less than 9 percent of the world’s refugees according to a news report issued on July 18, 2016.

• US, China, Japan, France, Germany and the UK made up more than half the global economy while they hosted 2.1 million refugees and asylum seekers which is just 8.88 percent of the world’s total according to Oxfam.
• Nation that host more than half of the world’s refugees and asylum seekers account for less than 2 percent of the world’s GDP- South Africa, Palestine, Lebanon, Pakistan, Turkey and Jordan.
• Close to one of 113 people have been forced to leave their homes due to violence, conflict and persecution.

ANSWER: 18th July

Explanation:
Nelson Mandela International Day was observed across the world on 18th July 2016 to honour Nobel Peace Prize laureate Nelson Mandela from 1918 to 2013.

• This day aims to help people change the world for the better.
• It has been celebrated since 2009.

ANSWER: 32

Explanation:
Government has approved a project to launch SWAYAM Prabha for operationalising 32 DTH TV channels for providing high quality educational content to teachers, students and citizens across the nation. New content of 4 hours each day will be telecast 6 times in a day permitting students to view the information as per their convenience.

• SWAYAM Prabha will feature curriculum based content covering diverse disciplines.
• Covers all education levels.
• Channels to be launched before September 2016.

ANSWER: Kerala

Explanation:
Startup Village in Kochi has launched a digital incubator for student startups- Start in College making it the first of its kind in the entire world.

• Incubator has been receiving applications and Startup Village is India’s first PPP model technology incubator which has supported more than 500 startups and created 3000 jobs during 2012-2015.