CURRENT AFFAIRS

Second successive Macau Open title clinched by Ace Indian shuttler PV Sindhu

On 30th November 2014, Noted Indian Shuttler P V Sindhu clinched Macau Grand Prix Gold trophy for second successive year. USD 120,000 Macau Grand Prix Gold trophy was bagged by P V Sindhu after defeating Kim Hyo Min of Korea in the women's singles finals.

Two-time World Championship bronze medallist P V Sindhu have rank World No. 11. P V Sindhu defeated Kim by 21-12 21-17 in match of 45 minutes at the Tap Seac Multisport Pavilion. 

40 Indian prisoners released by Pakistan

On 28th November 2014, 40 Indian prisoners were released by Pakistan and today they were repatriated by Pakistan government through Attari-Wagah route. 

Out of 40 prisoners, 35 were fishermen who inadvertently went into Pakistani waters through Arabian Sea while fishing and later they were held by the Pakistani coast guards for illegal fishing and other five were arrested in Pakistan as their travel documents were not complete.

Prime Minister Narendra Modi flagged off the first train from Meghalaya

On 29th November 2014, First passenger train from Meghalaya was flagged off by Prime Minister Narendra Modi. This train is scheduled to run between Mendipathar to Guwahati.

Apart from this PM Modi also laid the foundation stone of a board gauge railway line from Bhairabi to Sairang in Mizoram.

                                                                                                                          

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Some Basic Economic Terms

Interest Rate Swaps:  An interest rate swap is the transfer of contractually agreed between two counter parties of their respective interest rate obligation. Interest rate swaps are commonly used as a means of converting fixed rate to floating rate debt and vice versa.

 Operating Ratio: A ratio that shows the efficiency of a company’s management by comparing operating expense to net sales. Calculated as

Operation ratio = Operating expense/net sales

Wholesale Price Index (WPI): WPI is taken into consideration while calculating the inflation. A change has recently been made in the WPI. Its present base year will be taken as 2004-05 earlier it was 1993-34. Base year mean (2004-05 = 100). Total articles taken into consideration will be 676 earlier these were 435.676 include 102 Primary Articles, 19 fuel & power, and 555 of Manufacturing Products. Earlier WPI was calculated on Weekly basis but now it is calculated on Monthly Basis. First time inflation was calculated in August 2010 (on new system).

Consumer Price Index (CPI) : Most advanced nations base their policies on retail price inflation but India uses wholesale price inflation, CPI is largely a segmental and is superior to the WPI, CPI capture consumption price both at urban and rural centers, as in WPI 676 items are covered and base year is taken as – 2004-05 and for macroeconomic policies. Whereas in CPI 320 items are taken from (CPI-IW) CPI industrial workers and 260 items are taken from both CPR rural laborers and CPI agricultural laborers and the base year for calculation is taken as 2010.

Coupon Rate: Specified interest rate on a fixed maturity security fixed at the time of issue. The coupon rate of a bond is the amount of interest paid per year as a percentage of the face value or principal.

NRO (Non Resident Ordinary a/c) : In this account , a person cannot repatriate income without RBI approval but can remit Interest thereof.

NRNR (Non Resident Non Repatriable A/c ) : Under this account Principal amount in not permissible to repartriate but interest can be.

NRE (Non Resident External) : In this account Funds and interest both can be remitted without RBI permission. On NRE deposits the maximum ceiling is Libor rate + 175 basis points (Now there is no such Ceiling).

NPA (Non Performing Assets) : Interest or Installment of Principal remains overdue for a period of more than 90 days in respect of a Term Loan/ overdraft/ Cash credit.

Teaser Rate of Interest : This rate is typical low then the prevalent rate in the market. This is just to allure the customer. This rate is charged only for a little time. And after that it gradually touch the index rate or even more than that. This is a technique to attract customers.

Appropriation Bill : It is presented to parliament for its approval, so that the draw from government can with the Consolidated fund the amounts required for meeting the expenditure charged on the Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is enacted.

Call Money: Itner Bank call market is a part of the domestic money market from where banks borrowed and lent for one day called as Money at call and for a period more than 1day & upto 14days is called Short notice or Notice money without any collateral security. Money lend for 15days or more is called Term money.Normally funds are borrowed for 1 day and upto 3 days on weekends just to balance the Cash Reserve Ratio.

Nostro Account: When national bank is opened in foreign with currency is known as Nostro a/c. e.g. State bank india branch in USA.

CIBIL {Credit Information Bureau (India) Limited} :  An effective mechanism for exchange of information between banks and Financial Institutions for curbing the growth of NPAs.

Currency War: This is the other form of Protectionism. In this the tendency of every nation is that the value of their currency should not appreciate. The big example of this is CHINA that is holding their currency since 2008. It could be a cause of future Trade war.

Capital Budget: It consists of capital receipts and payments. It also incorporates transactions in the Public Account. It has two components Capital Receipts and Capital Expenditure.

                               

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Seating Arrangement Questions Answers

A. There are five friends.
B. They are standing in a row facing south.
C. Jayesh is to the immediate right to Alok. 
D. Pramod is between Bhagat and Subodh .
E. Subodh is between Jayesh and Pramod.

• 1. Who is at the extreme left end ?

  1. Jayesh
  2. Subodh
  3. Alok
  4. Bhagat

   Answer And Explanation

  Answer: Option C

• 2. Who is in the Middle ?

  1. Bhagat
  2. Subodh
  3. Jayesh
  4. Pramod

   Answer And Explanation

  Answer: Option B

  
  

• 3. To find the answers to the above questions, which of the given statements can be dispensed with ?

  1. None
  2. A only
  3. B only
  4. C only

   Answer And Explanation

  Answer: Option B

  Explanation:

  A is Superfluous.
• A. Eleven students, A, B, C, D, E, F, G, H, I, J and K, are sitting in the first row of the class facing the teacher.
  B. D who is to the immediate left of F is second to the right of C.
  C. A is the second to the right of E, who is at one of the ends.
  D. J is the immediate neighbour of A and B and third to the left of G.
  E. H is to the immediate left of D and third to the right of I.

  • 1. Who is sitting in the middle of the row ?

    1. B
    2. C
    3. G
    4. I

     Answer And Explanation

    Answer: Option D

    Explanation:

    D is to the left of F and second to the right of C i.e. C - D F.
  • A is second to the right of E i.e. E - A.
  • J is immediate neighbour of A and B and third to the left of G i.e. A J B - G.
  • H is the left of D and third to the right of I i.e. I - H D.
    The above four orders may be combined to obtain the correct order as under :
    E, K, A, J, B, I, G, C, H, D, F.

  • 2. Which of the following group is sitting to the right of G ?

    1. CHDE
    2. CHDF
    3. IBJA
    4. ICHDF

     Answer And Explanation

    Answer: Option B

    Explanation:

    D is to the left of F and second to the right of C i.e. C - D F.
    A is second to the right of E i.e. E - A.
    J is immediate neighbour of A and B and third to the left of G i.e. A J B - G.
    H is the left of D and third to the right of I i.e. I - H D.
    The above four orders may be combined to obtain the correct order as under :
    E, K, A, J, B, I, G, C, H, D, F.

    
    

  • 3. Which of the following statements is true in the context of the above sitting arrangements ?

    1. There are three students sitting between D and G.
    2. K is between A and J.
    3. B is sitting between J and I.
    4. G and C are neighbours sitting to the immediate right of H.

     Answer And Explanation

    Answer: Option C

    Explanation:

    D is to the left of F and second to the right of C i.e. C - D F.
    A is second to the right of E i.e. E - A.
    J is immediate neigbhour of A and B and third to the left of G i.e. A J B - G.
    H is the left of D and third to the right of I i.e. I - H D.
    The above four orders may be combined to obtain the correct order as under :
    E, K, A, J, B, I, G, C, H, D, F.

    
    

  • 4. In the above sitting arrangement, which of the following statements is superfluous ?

    1. A
    2. B
    3. D
    4. None

     Answer And Explanation

    Answer: Option D

  • 5. If E and D, C and B, A and H and K and F interchange their positions, which of the following pairs of students is sitting at the ends ?

    1. D and E
    2. D and K
    3. K and F
    4. D and A

     Answer And Explanation

    Answer: Option B
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CURRENT AFFAIRS:- 

Boxer Manoj Kumar conferred with Arjuna Award

On 26th November 2014, Boxer Manoj Kumar was honoured with prestigious Arjuna Award. Manoj Kumar received this award from Union Sports Minister Sarbananda Sonowal at a function in New Delhi.

It is important to mention here that Manoj Kumar was denied the award by the Kapil Dev-led selection committee then after he took legal route and won the case in Delhi High Court.

IIMA and World Gold Council set up India Gold Policy Centre

On 26th November 2014,  World Gold Council (WGC) and Indian Institute of Management, Ahmedabad (IIMA) collaborated to set up India Gold Policy Centre. This is aimed to conduct research on all aspects of the domestic gold industry.

This centre will be developing insights into how the significant stocks of gold India owns can be used to advance growth, employment, social inclusion and economic wealth of the nation.

President Pranab Mukherjee penned a book titled The Dramatic Decade

New book which is titled as "The Dramatic Decade: The Indira Gandhi Years" is penned by President of India Pranab Mukherjee. This book is set to be released on 11th December 2014. 

It is news obviously because it is penned by the President, it is also important to mention that it is first of a three part volume. Second volume will be on the years 1981-88 and third will be from 1988 to 2012.

First volume which will be throwing light into the era of 1970's which belonged to the then Prime Minister Indira Gandhi and have seen a major political and economic evolution in India.

Pakistani actress Veena Malik sentenced to 26 years in jail for blasphemy

On 26th November 2014, Pakistani actress Veena Malik, owner of Geo TV and Jang group Asad Bashir Khan and TV host Shaista Wahidi were sentenced to 26 years in jail by an Anti-Terrorism Court (ATC) of the Gilgit region of Pakistan for blasphemy for appearing in mock Geo TV wedding scene in which religious song about the wedding of the Prophet Muhammad's daughter was played in background.

Shariah Equity Fund to be launched by SBI Mutual Fund

 State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014 that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed at attracting investments from Muslim populations of India.  

The fund has been approved by the All India Muslim Personal Law Board, an authority that oversees the observance of Muslim civil laws in India.

With this, SBI MF will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.

Also, India became the second country outside the Islamic world where a state-owned bank is offering a Shariah-compliant fund. The UK is the first country who issued sovereign Islamic bonds in June 2014.

Namsai became the 18th district of Arunachal Pradesh

On 25th November 2014, Arunachal Pradesh got a new district Namsai. Chief Minister of Arunachal Pradesh Nabam Tuki declared Namsai as 18th district of Arunachal Pradesh.

Australian batsman Phillip Hughes died after head injury by bouncer

On 27th November 2014, There was a sad news in Cricket world as a young Australia batsman Phillip Hughes passed away at the age of 25. Two days before he was struck on the top of the neck by a bouncer.

During a domestic match in Sydney Phillip Hughes was hit by a delivery from bowler Sean Abbott. 

                                                                                                                                 

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