Current Affairs Questions & Answers - Mar 02, 2016

1)   RBI has made amendments to the treatment of certain balance sheet items of banks for what purpose?

a. Boosting their regulatory capital
b. Aligning with the Internationally adopted Basel III capital standards
c. Neither a nor b
d. Both a and b
Answer  Explanation  Related Ques

ANSWER: Both a and b

RBI has made amendments to the treatment of specific balance sheet items of banks boosting regulatory capital and aligning the same with globally adopted Basel III capital standards. According to the new riles, banks will be permitted to recognise part of real estate assets, foreign currency assets and deferred tax assets as capital with suitable hair cuts. This is in light of regulatory forcing banks to associate more stressed assets as NPAs leading to enhanced capital requirements. Existing capital adequacy guidelines were reviewed for aligning the definition of regulatory capital with internationally adopted Basel III capital standards issued by the Basel Committee on Banking Supervision. The amendments to be carried out with immediate effect include revaluation reserves due to change in carrying amount of bank property will be considered as Tier 1 instead of Tier 2 capital and continue to be reckoned at 55% discount. Foreign currency translation reserves due to translation of financial statements of the bank’s foreign operations to reporting currency may be considered as Tier 1 capital and reckoned at 25% discount. Foreign exchange translation reserves will suit banks with operations which have foreign operations such as SBI and BoI.

2)   Zero Discrimination Day is observed on which day every year?

a. March 31st
b. March 2nd
c. March 3rd
d. March 1st
Answer  Explanation 

ANSWER: March 1st

Zero Discrimination Day is observed on 1st March each year to promote diversity and respect for everyone to live life with dignity regardless of age, gender, sexuality, nationality, ethnicity, skin colour, height, weight, profession, education, and beliefs. This year 2016 has the theme Stand Out and encourages everyone to stand for fair and just societies. Symbol for this day is a butterfly. Zero Discrimination Day was launched by UNAIDS in December 2014. It is observed annually and was adopted by the UN in March.

3)   President of India, Shri Pranab Mukherjee celebrated the Civil Accounts Day on 1st March 2016. Which edition of the day was celebrated by him on this date?

a. 38th
b. 39th
c. 40th
d. 41st
Answer  Explanation 

ANSWER: 40th

President of India, Shri Pranab Mukherjee has inaugurated the 40th Civil Accounts Day at Vigyan Bhawan, New Delhi. The event is organised by CAG office, Finance Ministry, Department of Expenditure to mark the foundation day of Indian Civil Accounts Service. On this day in 1976, the Union Government accounts were separated from Indian Audit and Accounts Services and the Indian Civil Accounts organisation came into being.

4)   Government has approved the setting up of a Central Research Institute of Yoga and Naturopathy in which Odisha city?

a. Puri
b. Bhubaneswar
c. Cuttack
d. Balasore
Answer  Explanation  Related Ques

ANSWER: Bhubaneswar

Central Government has approved the proposal for establishing a Central Research Institute of Yoga and Naturopathy at Bhubaneswar, Odisha called CCRYN or Central Council for Research in Yoga and Naturopathy, Funds have been released to CPWD by government for construction of the same.

5)   US has deployed its elite counter terrorism unit for convert operations in Iraq to kill/capture high ranking IS operatives and gather intelligence. What is its name?

a. Alpha Force
b. Delta Force
c. Gamma Force
d. Beta Force
Answer  Explanation  Related Ques

ANSWER: Delta Force

US has deployed elite counter terrorism unit Delta Force for covert operations in Iraq for killing or capturing high ranking IS operatives and gathering intelligence as per a media report. Group has set up safe houses, established informant networks and coordinated operations with Iraqi and Peshmerga units. Special Op forces have used the same strategy in previous deployments to combat zones.

6)   Which famous Oscar winning actor won the award for the 1960s classic Cool Hand Luke?

a. George Kennedy
b. Paul Newman
c. Tim Dalton
d. Sean Connery
Answer  Explanation 

ANSWER: George Kennedy

Oscar winning actor George Kennedy who won the award for the movie Cool Hand Luke has died on 28th February 2016 at the age of 91. He won the Oscar in 1968 as Best Supporting Actor for portraying a chain gang convict in the movie which won 4 Academy Award nominations. Other films he has been featured in include Airport, Don’t Come Knocking and Death on the Nile.

7)   Which nation declared an emergency after a major pipeline burst?

a. Colombia
b. Serbia
c. Peru
d. None of the above
Answer  Explanation 


Peru on 29th February 2016 declared an emergency after a massive pipeline burst impacted two rivers in the country’s northwest. The two rivers are named Chiriaco and Morona and the emergency will continue to remain in force for around 3 weeks. The pipeline burst pour 3000 barrels of crude oil into the rivers which are a main source of water as well as food for indigenous communities and is owned by Petro Peru, state owned oil company used for transporting 5 to 6 thousand barrels of oil per day.

8)   Government is setting up a NMPB under Department/Ministry of Ayush. What is its full form?

a. National Medicinal Plants Board
b. National Medical Plants Board
c. National Medicine Plants Board
d. None of the above
Answer  Explanation  Related Ques

ANSWER: National Medicinal Plants Board

Government of India has set up National Medicinal Plants Board under the Ministry of Ayush since 2000 and it has been working for the conservation and development of medicinal plants alongside promotion of medicinal plants cultivation on farmer’s land to meet every growing demand. Currently, the following two CSS schemes have been implemented under this board:

1. Central Sector Scheme for Conservation, Development and Sustainable Management of Medicinal Plants
2. Centrally Sponsored Scheme of National AYUSH Mission (NAM)

Botanical Survey of India has found of 8000 species, 53 types of medicinal plants are in threatened categories such as Vulnerable and Critically Endangered.

9)   Name the island off Goa’s coast given by State Government of Goa to MoD?

a. Daman
b. Diu
c. Anjadiv
d. None of the above
Answer  Explanation 

ANSWER: Anjadiv

Anjadiv Islands off the coast of Goa were given by this state’s government to the MoD in July 1989. A recently passed judgement said islanders would not be allowed to celebrate customary feast of “St Francis de Assis” & “Nossa Senhore de Brotas” due to security considerations. Project Sea Bird at Karwar is of sensitive nature and feasts cannot therefore be celebrated at Anjadiv islands. The island has been declared a prohibited place.

10)   Which ship is going to be converted to Aircraft Carrier Museum?

a. INS Vikrant
b. INS Viraat
c. INS Vishal
d. None of the above
Answer  Explanation  Related Ques


All coastal state governments have been told to commit to preserving INS Viraat into an Aircraft Carrier Museum following decommissioning and the Policy letter states transfer of ships to state government will be effected on as is where is basis.

11)   Government has announced the creation of HEFA which will create infrastructure for top institutions like IITs. What does HEFA stand for?

a. Higher Education Financing Agency
b. Higher Education Finance Association
c. Higher Education Financial Amalgamation
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Higher Education Financing Agency

The agency has been announced with initial capital base of INR 1000 crore which will leverage funds from the market and work for the purpose of creating infrastructure for IITs and other top educational institutions. Regulatory architecture is also in place for 10 public and private institutions to emerge as world class teaching research institutions. The FM also announced the establishment of Digital Depository for academic certificates and opening of over 62 Navodaya Vidyalayas. HEFA will be an NPO for leveraging funds from the market and supplementing them with donations and CSR funds. Funds will be used for financing improvement in infrastructure in top institutions serviced through internal accruals.

12)   GoI has approved Department of Investment and Public Asset management proposal for strategic disinvestment of CPSEs. What are CPSEs?

a. Central Public Sector Entities
b. Central Public Sector Enterprises
c. Central Public Sector Enclave
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Central Public Sector Enterprises

GoI has approved Department of Investment and Public Asset Management for laying down the procedure and mechanism for strategic disinvestment of CPSEs or Central Public Sector Enterprises. Previously, strategic disinvestment would be associated with recommendations of the Disinvestment Commission. Government has also approved setting up of CGD or Core Group of Secretaries on Disinvestment under the Cabinet Secretary to implement the CCEA decision. NITI Aayog will perform the role of the Disinvestment Commission.

13)   Which veteran Hindustani classical vocalist has been selected for Puttaraj Samman-2016 instituted by the Dr. Puttaraj Gawai Foundation?

a. Vidyadhar Vyas
b. Varun Vyas
c. Vikash Vyas
d. Vikram Vyas
Answer  Explanation 

ANSWER: Vidyadhar Vyas

Pandit Vyas is an Indian Hindustani vocalist who is a modern exponent of the Paluskar style of north Indian classical singing. From Gwalior Gharana and the lineage of Pandit Vishnu Digambar Paluskar, he is considered a golden standard in the gharana gayaki with his riyaz. The musician is a doctorate in Hindustani Classical Vocal Music from the Akhil Bharatiya Gandharva Mahavidyalaya Mandal, Mumbai. AIR also awarded him top grade status while he won the
Sangeet Natak Akademi Award in 2007.

14)   Which airport has won 3 International awards for 2015 by ACI?

a. Chattrapatti Shivaji International Airport, Mumbai
b. Indira Gandhi International Airport, Delhi
c. Sardar Vallabhai International Airport, Ahmedabad
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Indira Gandhi International Airport, Delhi

Indira Gandhi International Airport, New Delhi has won 3 international awards for 2015 given by Airports Council International in the Airport Service Quality (ASQ) survey, where IGAI has scored 4.96 on a scale of 1 to 5. IGIA has won in the following categories:

  • Retained World’s number one airport for consecutive second year in 25 to 40 Million Passengers Per Annum (MPPA) category.
  • Best airport by size & region Asia Pacific (25-40 MPPA).
  • Second best airport by region (Asia Pacific).
IGIA is run by JV between GMR Fraport, Malaysia Berhad and AAI called DIAL of Delhi International Airport Limited.

15)   NTCA has given in principle approval for creation of 4 new tiger reserves in which states?

a. MP, Odisha, Assam and Chhattisgarh
b. Chhattisgarh, MP, Odisha and Manipur
c. Odisha, Gujarat, Rajasthan and Meghalaya
d. None of the above
Answer  Explanation  Related Ques

ANSWER: MP, Odisha, Assam and Chhattisgarh

National Tiger Conservation Authority has provided in principle approval for creation of new tiger reserves in MP, Odisha, Chattisgarh and Assam, in the following areas:

- Madhya Pradesh- Ratanpani
- Odisha- Sunabeda
- Chhattisgarh- Guru Ghasidas
- Orang- Assam

State governments have also been advised to send proposals for declaring Suhelwa(Uttar Pradesh), Mhadei(Goa), Srivilliputhur Grizzled Giant Squirrel/ Megamalai Wildlife Sanctuaries/ Varushanadu Valley (Tamil Nadu), Dibang (Arunachal Pradesh) and Cauveri MM Hills (Karnataka) as tiger reserves. Assessment of status of tigers, co-predators and their prey in 2014 using a precise methodology has demonstrated country wise 30 percent increase in number of tiger with estimated range of 2226 as against 1706 in 2010. NTCA and WII have identified potential bottlenecks and obstacles as well as weak links due to the presence of poor forest cover and land use other than forest and geographical barriers.

16)   Which US based subsidiary of Piramal Enterprises has acquired Adaptive Software?

a. Decision Resources Group
b. Daily Resources Group
c. Decision Research Group
d. Decision Research Company
Answer  Explanation  Related Ques

ANSWER: Decision Resources Group

US based subsidiary of Piramal Enterprises has acquired Adaptive Software for total potential consideration of INR 165 crore. Decision Resources Group, the completely owned subsidiary has made the announcement for the acquisition of assets of Adaptive Software LLC and control and ownership of its subsidiary AdaptiveRx LLC. Amount of USD 7.4 million was paid on closing date. Through this acquisition, DRG will enter healthcare payer ecosystem.

17)   Government has constituted a committee to consider granting of ST status to 6 Assamese communities. This includes:

a. Matak
b. Moran
c. Tai Ahom
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Union Government has constituted a committee to provide ST status to 6 Assamese communities namely Tai Ahom, Chutia, Koch Rajbongshi, Moran, Matak and Adivasi to be led by Mahesh Kumar Singla, Special Secretary (Internal Security) Ministry of Home Affairs.

18)   Which company has surpassed Infosys and HDFC to become third most valued company, in terms of market valuation?

a. ITC
b. IBM
c. HCL
d. Wipro
Answer  Explanation  Related Ques


Aided by a 10 percent rally, ITC has surpassed Infosys and HDFC Bank to become the third most valuable company in terms of market valuation. With a steep rally, ITC stock emerged as a top gainer on several indices. TCS retained its number one position.