Current Affairs October 2013 Current Affairs from 1st Oct, 2013 to 31st Oct, 2013 A publication of Nirdeshak.com 1 October 2013 seizing documents showing syphoning of funds by non-existent companies in the name of supplying fodder) 3) What was India’s Current Account Deficit (CAD) for the April-June quarter of the current fiscal as declared by the Reserve Bank of India (RBI) on 30 September, 2013? – $21.8 billion (CAD is the difference between inflow and outflow of foreign exchange) Other important facts pertaining to CAD during April-June quarter of 2013 CAD for the quarter was 4.9% of the GDP (CAD was 4.4% or $16.9 billion in the same quarter of last fiscal, 2012-13) High imports of gold and oil were the main reasons responsible for pushing up 1) A special CBI court at Ranchi on 30 the CAD. Gold imports increased by $7.3 September, 2013 convicted former Bihar Chief billion in the first quarter of current fiscal. Minster and RJD leader Lalu Prasad and 44 Excluding the increase in gold imports of others (including former Chief Minister Jagannath $7.3 billion in Q1 of 2013-14 over the Mishra) in the in the multi-crore fodder scam case corresponding quarter of the preceding of 1990s. The court will pronounce the quantum of year, CAD would work out to $14.5 billion, sentence to the convicts on 3 October, 2013. He which translates into 3.2% cent of GDP was convicted in which case? – Fraudulent CAD had declined to 3.6% in the January- withdrawal of Rs 37.7 crore from Chaibasa March quarter after touching a record treasury of Jharkhand (The RJD chief will face high of 6.5% in the October-December immediate disqualification as a Lok Sabha quarter member as per a Supreme Court order that an The government plans to bring down CAD to 3.7% or $70 billion in the 2013-14 fiscal, MP or legislator would stand disqualified from 4.8% or $88.2 billion in 2012-13 immediately if convicted by a court for crimes with punishment of two years or more) 4) The Reserve Bank of India (RBI) on 30 September, 2013 came up with a report titled ‘A 2) The infamous Chaibasa treasury case related IRS Profile of Banks: 2012-13’, which among other to the multi-crore fodder-scam of Bihar, in which FA data, reported statistics pertaining to net non- RJD supremo Lalu Prasad Yadav was convicted AF performing assets (NPA) of the banking sector. T by a special-CBI court in Ranchi, was unearthed What are the important NPA figures mentioned in by the then Deputy Commissioner of West this report? Singhbhum in 1996. What is his name? – Amit CURREN The net NPA of all banks increased to Khare(The fodder scam came to surface after 1 1.68% of the total loan at the end of 2012- e Deputy Commissioner Amit Khare raided offices 13 (The net NPA of all banks was 1.28% at of animal husbandry department in January 1996, Pag the end of 2011-12. Increase in net NPA The cost of funds for state-owned banks reflects deterioration in economic rose to 6.27% from 6.06% in 2011-12 activities) Net NPA of the 26 public sector banks, including State Bank of India (SBI), rose 5) Petrol price was on 30 September, 2013 cut to 2.02% during the year as compared to reduced by …………per litre – Rs. 3.05 (This was 1.53% in the previous fiscal the first reduction of petrol price in over five SBI and its five associates recorded a net months and the steepest reduction in over five NPA of 2.04% against 1.76% in the years. Since June, 2013 petrol prices had been comparable period raised seven times, totalling Rs. 10.80 per litre, Net NPA of new private sector bank rose excluding VAT, as the rupee depreciated sharply marginally to 0.45% as compared to against the rupee. On the other hand diesel prices 0.42% were raised by 50 paise a litre. Oil firms also Tight liquidity situation resulted in raised rates of non-subsidised domestic cooking increase in cost of funds of all gas that households buy after exhausting their commercial banks to 6.12% as against quota of 9 subsidised cylinders) 5.90% in 2011-12 2 October 2013 insurance provider in India with a market share of around 83%) 2) The United States government went into a shutdown from the mid-night of 30 September, 2013. This meant that an estimated 800,000 federal workers faced furloughs (leave without payment) and most of the space agency and other government operations remained closed. 1) Life insurance policies of Life Insurance What was the reason for this shutdown? – Corporation of India (LIC) became costlier from Collusion between Republicans and 1 October, 2013 due to an IRDA guideline that Democrats over the flagship healthcare came into effect from this date. What guideline is programme of President Barack Obama in this? – Levy of 3% service-tax on all non-unit- the US Congress which led to an interruption linked products beginning 1 October in Federal funding (This is the first instance of 2013 (While private insurers add a service tax shutdown in the U.S. since twin shutdowns of component to the premium paid by customers, 1995 and 1996. In U.S. politics, a government LIC has not been levying the tax on its popular shutdown is a situation in which the government endowment and money-back plans. From 1 stops providing all but essential services. IRS October, however, all LIC policies will attract a Typically, federal services that continue despite FA separate service tax. In a recent announcement, a shutdown include the National Weather AF T insurance watchdog IRDA (Insurance Service and its parent agencies, medical Regulatory and Development Authority) services at federal facilities, the postal service, mandated that service tax shall not be included armed forces, air traffic management, etc. A CURREN in the contractual premium, but collected from government shutdown is similar to a lockout in 2 the private sector) e policyholder separately. LIC is the largest life- Pag 3) Congress Rajya Sabha MP Rasheed Masood label, according to the Ministry of Small and was on 1 October, 2013 sentenced to four years Medium Enterprises. Khadi was promoted by in jail by a Special CBI Court at New Delhi. What Mahatma Gandhi to counter Western fabric and was the charge against Masood? – became a symbol of self-reliance during Fraudulently nominating undeserving country’s freedom struggle) candidates from across the country to MBBS seats allotted to Tripura medical colleges 7) Who took over as the new Chairman & from the central pool in 1990-91 (This case Managing Director of Bharat Petroleum pertains to the time when he was Union Health Corporation Limited (BPCL) on 1 October, Minister during the National Front Govt. in 1990. 2013? – S. Varadarajan (He replaced R.K. With this Masood became the first MP to lose Singh who has retired) his seat after a recent Supreme Court order on immediate disqualification of convicted 8) Ashok Reddy Nukala was recently appointed lawmakers) as new Chairman of Karnataka Vikas Grameena Bank (KVGB), a regional rural bank. KVGB is 4) Indian Railways’ freight tariff was increased sponsored by which public-sector bank? – from 1 October, 2013 due to the increase in fuel Syndicate Bank cost. This increase came into effect as it was a budget proposal to review the fuel adjustment component (FAC) after – Six Months (Railways 9) According to the newly released census data had earlier hiked the freight rate by 5.7 per cent of Census 2011 pertaining to slum dwellers, how on 1 April, 2013 while linking the FAC with many Indians live in slums in 2011? – 65 goods tariff. FAC was proposed in the budget million (In the Census of 2001 the total and was linked with fuel and energy prices and population of slum dwellers stood at 52 million. calculated accordingly) The census defines a slum as “residential areas where dwellings are unfit for human habitation” 5) Who was recently appointed as India’s new because they are dilapidated, cramped, poorly High Commissioner to the United Kingdom ventilated, unclean, or “any combination of these (UK)? – Ranjan Mathai (Mathai will succeed factors which are detrimental to the safety and Jaimini Bhagwati and will take his charge soon. health” and covers all 4,041 statutory towns in Mathai is the former Foreign Secretary and he India) retired on 31 July, 2013) 10) According to the newly released census data 6) What is the name of a distinct identity to of Census 2011 pertaining to India’s slums, Khadi which was launched on 30 September, which state has the highest slum population in 2013 by the President Pranab Mukherjee? – the country? – Maharashtra (Maharashtra’s Khadi Mark (The launch of Khadi Mark on the slum population stood at 11 million. Andhra IRS occasion of Gandhi Jayanti on 2 October, 2013 Pradesh follows with over 10 million in slums, FA will ensure that no textile can be sold or and West Bengal and Uttar Pradesh have over 6 AF otherwise traded by any person or institution as T million slum residents each) Khadi or Khadi product in any form or manner without it bearing a Khadi Mark tag, sticker or CURREN 3 e Pag 3 October 2013 Justice. This bill seeks to replace which existing bill? – The Gujarat Lokayukta Act, 1986 (The State had a Lokayukta till 2003 when the last incumbent retired High Court judge, S.M.