WEEKELY BITS WITH EXPLANATIONS (04-10 JULY 2016) 1) Which among the following launched the first sale of so-called masala bonds from 12 July 2016 that is basically a rupee-denominated bond sold overseas? [2] 1. Axis bank 2. HDFC 3. ICICI 4. Federal bank 5. Western union money transfer Expl:- A masala bond is a rupee-denominated bond sold overseas. Such bonds allow an issuer to raise funds in the overseas market without taking on the currency risk typically associated with foreign-currency denominated bonds or loans. HDFC thus became first Indian public issuer of synthetic rupee notes. The synthetic rupee notes are in the nature of rupee denominated bonds as per Reserve Bank of India (RBI) guidelines. The bonds will bear a fixed coupon and will have a tenor of 3 years and 1 month. The concept of masala bonds was first spelt out by RBI in April 2015, following which the central bank issued guidelines for the securities in September. The primary idea was to allow Indian companies to raise money through an overseas debt instrument where the currency risk lies with the investor rather than the issuer. 2) The first dedicated base for Indian Navy’s elite force – MARCOS East, was commissioned on 12 July 2016 in the form of ‘INS Karna’. This base has been established at …………? [2] 1. Kochi 2. Visakhapatnam 3. Kolkata 4. Mumbai 5. None Expl:- Indian Navy’s long pursued endeavour of establishing a dedicated base for its Special Operation Forces – MARCOS East (Marine Commandos East) was fulfilled on 12 July 2016 as Chief of Naval Staff Admiral Sunil Labna commissioned ‘INS Karna’ at Vishakhapatnam. – This first base for MARCOS East will have capability to operate in all three dimensions of warfare – air, land and sea. – MARCOS East was raised on October 26, 1992 and since then it has been the primary special operations unit in Eastern Naval Command (ENC). The unit has been at the forefront in various operations undertaken by the Navy like Operation Zabardast (Sri Lanka February 1993), Operation Tasha (1990-2009), Operation Leech (1998) and Operation Sagittarius (anti-piracy operations in Malacca Strait). 3) Which Bank acquired Tamil Nadu-based microfinance institution (MFI) Grama Vidiyal recently? [3] 1 1. ICICI 2. HDFC 3. IDFC 4. Canara bank 5. SBI Expl:- Grama Vidiyal is the name of a Tamil Nadu based microfinance institution (MFI) that has a customer base of 1.2 million customers with an asset base of Rs.1,500 crore. IDFC Bank has received approval from the Reserve Bank of India (RBI) for the transaction. IDFC Bank started banking operations on 1 October 2015, converting itself from an infrastructure focused lender into a universal bank. IDFC was one of two entities that got a banking license from the RBI in 2014 along with Bandhan Bank. 4) World Population Day was observed on…………? [1] 1. 11th July 2. 12th July 3. 13th July 4. 14th July 5. 15th July Expl:- This day is celebrated with an intent to raise awareness of global population issues. The theme for this year is 'Investing in Teenage girls' and focuses on the empowerment of teenage girls. Teenage girls who face a lack of school and early marriage and motherhood which leaves them vulnerable to illness, injury and exploitation. They are denied even their basic rights. These challenges are exacerbated among marginalized girls, such as members of ethnic minorities or those living in poverty or remote areas. The event was established by the Governing Council of the United Nations Development Programme in 1989. The theme of the 2015 World Population Day was ‘Vulnerable Populations in Emergencies’. 5) Sushila Karki has been appointed as the first woman chief Justice of which country? [2] 1. Bangladesh 2. Nepal 3. Srilanka 4. Indonesia 5. India Expl:- Sushila Karki has been appointed as the first woman chief Justice with a unanimous decision by the parliamentary panel. Karki (64), who has done her Masters in Political Science from Banaras Hindu University, is famous for her 'zero-tolerance' for corruption. 2 Karki was recommended for the top judicial post on April 10 this year by the Judicial Council but her appointment was pending due to delay in the formation of the PHSC for some technical reasons. Currently, 11 nominees are awaiting the PHSC hearing for their appointment as the SC judges. 6) National Association of Software and Service Companies (NASSCOM) unveiled India's first Centre of Excellence focused on Internet of Things (CoE- IoT) at its Startup Warehouse in which city? [3] 1. Chennai 2. Hyderabad 3. Bengaluru 4. Dispur 5. Bhubaneshwar Expl:- The centre is a joint initiative between the Department of Electronics and Information Technology (DeITY), Education and Research Network (ERNET) and NASSCOM and will function as an enabler of funding, accelerating, and mentoring for start-ups in this area. It is also supported by Accenture, Cisco, Intel, HCL Technologies, Qualcomm, TCS and L&T Technology Services, among others. 7) Former India international Amal Dutta passed away recently. He was associated to which sport? [2] 1. Volley ball 2. Football 3. Chess 4. Cricket 5. Badminton Expl:- Former India international Amal Dutta, the first professional football coach of the country, has passed away at the age of 86 due to age related ailments. A midfielder, who represented India at the 1954 Asian Games, the former Mohun Bagan and East Bengal footballer later made a name for himself as a tactical genius as he pioneered professional coaching in India. Known for his humility and gentle behaviour, Dutta was the brain behind Mohun Bagan's Diamond system -- a 4-1-2-1-2 formation -- in the late 1990s, that had taken the club to a different level. 8) Name the Indian company that emerged as the most transparent company in Berlin-based Transparency International’s survey of the 100 most transparent companies in 15 emerging market countries ? [2] 1. Vodafone 2. Bharati airtel 3. Reliance telecomm 4. BSNL 5. Tech Mahindra 3 Expl:- The Berlin-based watchdog Transparency International on 11 July 2016 released the “Transparency In Corporate Reporting Survey 2016” pertaining to transparency in reporting standards of 100 companies in 15 emerging market countries of the world. The survey included all major emerging countries like India, China, Brazil, Russia and Mexico. Indian telecom giant Bharti Airtel topped the list. The company took first place with a score of 7.3 out of 10, followed by six units of conglomerate Tata and technology company Wipro. The survey disclosed that while India has the most transparent companies, Chinese firms are the most opaque. Thirty-seven Chinese companies were evaluated, making them the survey’s biggest group, but they had the weakest overall performance. One reason Indian companies came out on top is strict government requirements for financial disclosures, including operations in different countries. 9) Name the Britain’s second female prime minister after Andrea Leadsom, the only other candidate in the race, withdrew her name on 11 July 2016? [2] 1. Mary robinson 2. Theresa May 3. Vista Mary 4. Jessica rany 5. Randy Mickeson Expl:- Theresa May has served as Interior Minister for the past six years. She is now set to become Britain’s second female prime minister after Margaret Thatcher. Energy minister Andrea Leadsom abruptly withdrew from the contest to succeed David Cameron as Britain’s prime minister on 11 July 2016, leaving her rival Theresa May as the only candidate. Leadsom, who has no cabinet experience, was barely known to the British public until she emerged as a prominent voice in the successful campaign for Britain to leave the European Union (EU). 10) Dr. Raghuveer Chaudhari was conferred with the …………Jnanpith Award by President of India, Dr. Pranab Mukherjee on 11 July 2016? [3] 1. 49th 2. 50th 3. 51st 4. 52nd 5. 53rd Expl:- Dr. Raghuveer Chaudhari is a noted novelist, poet and critic of Gujarati language. While his most significant contributions have been in Gujarati language but he has also written Hindi articles. He received the Sahitya Akademi Award in 1977, for his novel trilogy Uparvas. 4 On 11 July 2016 he was conferred with the Jnanpith Award, considered to be India’s highest literary award, by President Dr. Pranab Mukherjee. Chaudhari thus became the 51st recipient of this prestigious award. 11) India ranked …….. on the Networked Readiness Index (NRI) 2016? [1] 1. 91 2. 90 3. 76 4. 67 5. 89 Expl:- India ranked 91 on the Networked Readiness Index (NRI) 2016, a key component of the World Economic Forum's The Global Information Technology Report 2016. The report assesses the state of networked readiness of 139 economies using the NRI and examines the role of information and communication technologies (ICTs) in driving innovation. India has slipped down two positions to an overall rank of 91, despite improvements in its political and regulatory environment and in its business and innovation environment. However the drop can be attributed to the fact that other countries are progressing at a faster pace. 12) Who among the following named World Class Gymnast by International Gymnastics Federation?[1] 1. Dipa karmakar 2. Deepthi agarwal 3. Rupa settee 4. Kusuma iyyer 5. Prasanna vadrekar Expl:- Karmakar, who recently became the first Indian female gymnast to qualify for the Olympics, has been awarded the honour for her performances in the Gymnastics World Championships held in Glasgow in October-November 2015. She is the first woman in the gymnast history to land the Produnova, one of the most dangerous vaults. She won 10 gold medals at two national games. She received the Arjuna Award in August 2015. 13) The Environment Pollution (Prevention and Control) Authority (EPCA) has recommended a green cess of how much % on diesel vehicles for the National Capital Region (NCR)? [1] 1.