Current Affairs Questions & Answers - Oct 17, 2016

1)   Indian banks are staring at deposit erosion of what amount between Sept and Nov 2016?

a. INR 1.5-2 lakh
b. INR 2-2.5 lakh
c. INR 2.5-3 lakh
d. None of the above
Answer  Explanation 

ANSWER: INR 1.5-2 lakh

Indian banks are staring at deposit erosion of INR 1.5-2 lakh between Sept and Nov 2016 as Foreign Currency Non Resident deposits mobilised in 2013 mature around that period

  • This could result in acute liquidity shortage and possible de-growth of balance sheets
  • At the deposit growth rate currently, mobilisation by banks is to the tune of INR 2.4 lakh crore deposits in three months
  • To maintain the same growth, banks will need to raise INR 4 lakh crore in three months
  • Liquidity impact is to be felt by banks around maturity time
  • RBI is also planning liquidity support and special measures to nullify shortage
  • Central Bank also has build up a long forwards position in dollars amounting to USD 21.15 billion in more than three months and up to one year segment that can be used for honouring the pay-outs
  • Central Bank’s social position will be around USD 24.67 billion indicating RBI will infuse dollars to prevent exchange rate volatility

2)   India is home to the __ largest population of HNIs in Asia pacific region.

a. 3rd
b. 4th
c. 5th
d. 6th
Answer  Explanation 


India is home to the fourth largest population of high net worth individuals in the Asia Pacific region with the total wealth of USD 797 billion according to a report

  • Asia Pacific region is an area comprising the whole of Asia as well as regions bordering the Pacific ocean including the small nations of East Asia
  • The most commonly quoted figure for membership in the HNI club is USD 1 million in liquid financial assets
  • Number of HNIs in India jumped to 200,000 last year from 180,000 in 2014
  • The overall wealth rose by 1.6 percent during the same period, according to the Asia-Pacific Wealth Report 2016
  • Japan has the largest HNI population in the Asia Pacific at over 2.7 million followed by China at more than a million in 2015 and Australia, 230,000
  • Asia Pacific HNI wealth rose 9.9 percent in 2015 to USD 17.4 trillion, growing 5.8 times the 1.7 percent growth rate of the Rest of the World
  • Asia Pacific High Net Worth Individuals numbers have risen by 115 percent in the past 15 years as against a global growth rate of 82 percent
  • HNWI in Asia Pacific are expected to rise by 50 percent over the coming 10 years, reaching around 5.2 million by 2025

3)   In a major effort to curb the use of climate damaging refrigerants HFCs, how many countries agreed in Kigali, Rwandan to phase down the use of super GHGs, in Oct 2016?

a. 195
b. 196
c. 197
d. 198
Answer  Explanation 


In a major development to curb the use of climate- damaging refrigerants, hydrofluorocarbons, 197 nations on 15th Oct signed an agreement in Kigali, Rwanda to phase down the use of this super GHG.

  • As per this agreement, reached after a 5 day gruelling negotiation, developed countries including US, Japan, Canada and West European nations will lower HFC use first, followed by China with a large number of other developing countries
  • India and nine other countries of South and West Asia including Pakistan, Iran and Iraq will follow suit
  • The agreement is expected to reduce the HFC use by 85 percent by 2045
  • As per the agreed schedule, the developed nations led by the US will reduce HFC use by 85 percent by 2036 over a 2011-2013 baseline.
  • China is the largest producer of HFCs in the world
  • It will reduce HFC use by 80 percent by 2045 over the 2020-2022 baseline
  • India will reduce the use of HFCs by 85 percent over the 2024-2026 baseline by 2047
  • Freezing year for India will be 2028- it means the country would peak the use of HFCs by 2028 and thereafter start phasing it down
  • This agreement reflects the principal of common but differentiated responsibility and an emerging reality of the world where China takes more responsibility to solve global environmental issues
  • Developed countries have also agreed to provide enhanced funding support to developing nations under the Kigali deal on the Montreal Protocol
  • Unlike the Paris Agreement on climate change, the Montreal Protocol amendment is legally binding.
  • The Kigali agreement is the beginning of a long process to replace HFCs with energy efficient and environmentally sound alternatives

4)   First robotic arm capable of touch and sensation has been developed by which Brazilian project?

a. Walk Again Project
b. Walk Still Project
c. Walk Alive Project
d. None of the above
Answer  Explanation 

ANSWER: Walk Again Project

A 28-year-old man left paralysed by a car accident has been able to feel a sensation for the first time, after a robotic arm was directly connected to his brain in the world’s first breakthrough.

  • Nathan Copeland has been able to feel using a robotic arm as it is connected to micro electrodes about half the size of a shirt button that were surgically implanted in his brain
  • Prior to the operation, imaging techniques were first used to identify the places in in the fingers and palms which correspond to feelings
  • Discovery that people can regain some sensations using a so-called computer brain interface could revolutionise the treatment of paralysis
  • This development was part of the Walk Again Project in Brazil will left people paralysed by severe spinal cord injuries could recover the ability to move their legs after the exoskeleton was trained linked to the brain
  • Project aimed at enabling people to walk by controlling the exoskeleton with their minds
  • The ultimate goal is to create a system which moves and feels like a natural arm would

5)   When was Missile Man APJ Abdul Kalam’s 85th birth anniversary celebrated?

a. 14th Oct
b. 15th Oct
c. 16th Oct
d. 17th Oct
Answer  Explanation 

ANSWER: 15th Oct

PM Narendra Modi on 15th Oct 2016 paid tributes to the former president and Missile Man of India, APJ Abdul Kalam on his 85th birth anniversary

  • Kalam was born in Oct 15, 1931 in Rameswaram in Tamil Nadu and died due to cardiac arrest on July 27 in 2015
  • Kalam was a recipient of several awards including Padma Bhushan in 1981, Padma Vibhushan in 1990 and the Bharat Ratna in 1997
  • He was the 11th president of India, from 2002-2007
  • He has authored several books such as Wings of Fire and India 2020.
  • He has made a significant contribution as project director for developing the first indigenous Satellite Launch Vehicle in India SLV-3 which successfully injected the Rohini satellite in the orbit of the earth in July 1980

6)   Which nation suspended cooperation with UN cultural agency UNESCO in Oct 2016?

a. Palestine
b. Israel
c. Syria
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Israel

Israel in Oct 2016 suspended cooperation with UN cultural agency UNESCO, accusing it of denying Judaism’s connections to the region and religion’s holiest sites

  • The Israel National Commission of UNESCO has suspended all professional activities with international organisations
  • This comes after the UNESCO approved a draft resolution using only the Islamic name for a hilltop complex, the holiest site in Judaism
  • Draft was passed by 24 in favour, 6 against and 26 abstentions
  • Hilltop complex is called Temple Mount in Jewish and Haram al-Sharif in Islam
  • Resolution sponsored by several Arab countries refers to occupied Palestine and safeguard Palestinian cultural heritage and the distinctive character of east Jerusalem.
  • East Jerusalem, with sites holy to Jews, Christians and Muslims, was captured by Israel during the 1967 Mideast war.

7)   Which nation decided to leave the Commonwealth of Nations?

a. Maldives
b. Mauritius
c. Myanmar
d. None of the above
Answer  Explanation 

ANSWER: Maldives

Maldives government in Oct decided to leave the 53 member Commonwealth of Nations.

  • The organisation warned of suspension by the Commonwealth Ministerial Action Group if further steps were not taken to promote the rule of law and democracy
  • Maldives has decided to leave the Commonwealth saying it was treated unjustly and unfairly
  • The organisation also asked Maldives to encourage political dialogue and increase democratic institutions apart from releasing opposition leaders
  • Nation was put on CMAG’s formal agenda on 23rd September 2016 and cautioned if it failed to attain progress in six key priority areas
  • Maldives government decision to quit the Commonwealth has invited concern from several quarters within and outside the country.
  • Commonwealth Secretary General Patricia Scotland expressed disappointment over the decision and hoped the move will be a temporary one.
  • After the nation cracked down on former president and leader of the opposition Mohammad Nasheed, Amnesty International said a severe human rights violation had taken place
  • Commonwealth of Nations tried to address this.

8)   Who won the first BRICS U-17 football tournament?

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

ANSWER: Brazil

Brazil on 15th oct 2016 won the first BRICS U-17 football tournament in the title clash played at Nehru stadium of Goa

  • Brazil defeated South Africa 5-1
  • Earlier in the match for the 3rd place between Russia and China, Russia defeated China 2-1.
  • The 10 day BRICS tournament transcends the traditional sphere of interaction and opens new vistas in the field of sports
  • The sports tournament spurs India’s impetus to Khelo India and Mission 11 Million.

9)   Which country’s emir ordered the dissolution of its parliament on 16th Oct 2016?

a. Qatar
b. Kuwait
c. Bahrain
d. None of the above
Answer  Explanation 

ANSWER: Kuwait

Kuwait’s emir has ordered the dissolution of the parliament on 16th Oct 2016, opening the way to fresh elections saying security challenges in the region can be addressed by consulting popular will.

  • This would be the 7th ballot for the Gulf Arab state since 2006
  • Political strains have long held up economic growth and the government has introduced cuts to longstanding welfare benefits
  • Political stability in the major oil producer has been linked with cooperation between the government and the parliament- the oldest legislature among Gulf Arab nations
  • News Sheikh Sabah al-Ahmad al-Sabah's decree gave no date for fresh elections for the 50-seat chamber but under constitutional rules a ballot should be held within 60 days.
  • Kuwait is a US ally and has a relatively open political system avoiding an uprising seen in other Arab states since 2011
  • Assembly can pass legislation and question ministers
  • But the emir has a final say in state issues and can dissolve the parliament; he also selects the PM who chooses the cabinet