Current Affairs Questions and Answers - September 2, 2015Q1. On 1st Sep’15, the government accepted the Justice AP Shah Committee report on the Minimum Alternative Tax (MAT) on Foreign Institutional Investors. Prior to which date the government will not impose levy tax on FIIs?
A. 1st Apr’14
B. 31st Mar’15
C. 1st Apr’15
D. 31st Aug’15View Answer / Hide Answer
Q2. As per the RBI Guidelines, on which of the following days RTGS facility will not operate?
ANSWER: C. 1st Apr’15
The Shah panel's recommendations were applicable only for FIIs and FPIs and did not pertain to cases involving foreign direct investment (FDI). In May , the government set up a panel headed by Justice AP Shah to suggest ways to resolve the MAT dispute as well as some other tax issues. Tax authorities had issued MAT notices to foreign portfolio investors last year which claim of Rs 600 crore.
A. 1st Monday of the month
B. 2nd Saturday of the month
C. 4th Saturday of the month
D. All Saturdays of the monthView Answer / Hide Answer
Q3. On 1st Sep’15 as announced by the PM Narendra Modi in a parivartan rally in Bihar, through which Finance Commission Bihar will get Rs. 3.74 Lakh Crore in next five years?
ANSWER: B. 2nd Saturday of the month & C. 4th Saturday of the month
The Reserve Bank has said that the Real-time gross settlement - RTGS system will not be operated on second and fourth Saturdays with banks observing public holiday on those days. In a notification issued from Mumbai, RBI said that the system will operate for full days on working Saturdays of the month. The minimum amount to be remitted through RTGS is Rs 2 lakh while there is no upper ceiling.
A. 12th Finance Commission
B. 13th Finance Commission
C. 14th Finance Commission
D. 15th Finance CommissionView Answer / Hide Answer
Q4. Which of the following banks were declared as Domestic Systemically Important Banks (D-SIBs) by the RBI on 31st Aiug’15?
ANSWER: C. 14th Finance Commission
He also said that this amount is different from the Rs 1.65 lakh crore that he announced earlier.
B. ICICI Bank
C. HDFC Bank
D. PNBView Answer / Hide Answer
Q5. Who has been appointed as the new Finance Secretary on 31st Aug’15?
ANSWER: A. SBI & B. ICICI Bank
The D-SIB framework requires RBI to disclose the names of banks designated as D-SIBs every year in August starting from August 2015. Now it is to be interpreted as that these banks are so integral to the economy that their failure would have to be prevented at any cost.
A. L C Goyal
B. Rajiv Mehrishi
C. Ratan P Watal
D. Shaktikanta DasView Answer / Hide Answer
Q6. As per the Fitch Ratings released on 1st Sep’15, which of the following banks has been downgraded by one notch to 'bb' to reflect the growing risk to the bank's capital position from its mounting stressed assets?
ANSWER: C. Ratan P Watal
He is a 1978-batch IAS officer of the Andhra Pradesh cadre.
A. Indian Bank
B. Canara Bank
C. Axis Bank
D. Punjab National BankView Answer / Hide Answer
Q7. India has won the United Nations Educational, Scientific and Cultural Organisation (UNESCO) prize Award of Excellence 2015 for the conservation efforts of the Sree Vadakkunnathan Temple. In which state the temple is located?
ANSWER: D. Punjab National Bank
Rating agency Fitch Ratings downgraded PNB's Viability Rating by one notch to 'bb' on the growing risk to the bank's capital position from a mounting stock of stressed assets.
A. Andhra Pradesh
C. Tamil Nadu
D. KeralaView Answer / Hide Answer
Q8. India is joining the UN-based Better Than Cash Alliance to ____________
ANSWER: D. Kerala
It was announced on 1st Sep’15. According to UNESCO, the award recognises the conservation effort with conservation techniques emphasising on architecture and construction.
A. reduce cash in its economy.
B. accelerate the transition from cash to digital payments in order to reduce poverty.
C. achieve financial inclusion.
D. All of the above View Answer / Hide Answer
Q9. Indian authorities have accused which company of abusing its dominance in search advertising?
ANSWER: D. All of the above
The new partnership with the Alliance is an extension of Indian Government’s commitment to reduce cash in its economy. The alliance is made up of Governments, companies, and international organizations that accelerate the transition from cash to digital payments in order to reduce poverty and drive inclusive growth. Dr. Ruth Goodwin-Groen, Managing Director of the Better Than Cash Alliance said, India’s leadership and progress are inspirational for countries around the world. He said, by making the digitization of payments to achieve financial inclusion a top priority, India is showing its commitment to improving the lives of its people and driving inclusive growth.
D. OperaView Answer / Hide Answer
Q10. For which of the following country, India has emerged as the 8th largest tourism market with over 2 lakh Indians visiting the country previous year?
ANSWER: A. Google
The three year inquiry centers on complaints filed by several websites which claimed Google had been unfairly highlighting its own services. The accusations are similar to other allegations Google has faced in the US and Europe. The San Francisco based company says it is confident it will be cleared of wrongdoing in India. The firm has ten days to respond to the findings by the Indian Competition Commission.
D. CanadaView Answer / Hide Answer
Q11. After how many years Indian Cricket team won the Test Series in Sri Lanka soil?
ANSWER: C. Australia
The total number of Indian visiting Australia this year was 2,07,000. In Melbourne, Australian trade minister Andrew Robb said that India was one of the fastest growing markets. Mr. Andrew said that the result demonstrates that tourism is one of its strengths. He said that tourism can be its fastest growing sector this decade if its continues to leverage on the 'clean, green and safe' brand to position itself for tourism.
A. 15 years
B. 22 years
C. 36 years
D. 40 yearsView Answer / Hide Answer
Q12. As decided by the sports ministry, which of the following activity will be recognized as a sports discipline and placed it in the priority category?
ANSWER: B. 22 years
On 1st Sep’15 India ended a 22 year long drought of a win over Sri Lanka on Sri Lankan soil, when they clinched their first Test series with the Island ,with an emphatic 117-run victory over the hosts in the third and final cricket Test. India’s last series success in Sri Lanka came under Mohammad Azharuddin’s captaincy in 1993.
D. SingingView Answer / Hide Answer
Q13. Which team clinched the Buchi Babu Memorial Trophy in the All India invitation cricket tournament on 1st Sep’15?
ANSWER: A. Yoga
The Ministry also decided to upgrade Fencing from Others to General category, based on the past performance in major international events. It has also been decided to place University Sports in the Priority category. The Ministry also reviewed the categorization of various Sports disciplines and the revised categories of sports disciplines and the scale of financial assistance admissible to each category was conveyed to IOC and all recognized National Sports Federations on 23rd March, 2015.
D. TNCA XIView Answer / Hide Answer
Q14. Name the mobile application for Freight Operations developed by Centre for Railway Information Systems (CRIS) launched by Raliway Minister on 1st Sep’15?
ANSWER: B. Mumbai
Mumbai beat Tamil Nadu Cricket Association Districts,TNCA , XI by six wickets and clinched the Buchi Babu Memorial Trophy in the All India invitation cricket tournament in Chennai.
D. None of theseView Answer / Hide Answer
ANSWER: B. PARICHAALAN
Parichaalan’ is a mobile application conceptualized and developed by CRIS to make decision making on freight operations absolutely easy and user friendly. The application is a powerful tool as it not only represents data in a pictorial and graphical manner that is easily comprehensible but also makes the information dynamic and current in nature.