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Current Affairs Quiz : January 31 2017

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  1. What is the total proposed budget of the Rail Safety Fund Rashtriya Rail Sanraksha Kosh?
    A.Rs. 20000 crore
    B.Rs. 12000 crore
    C.Rs. 25000 crore
    D.Rs. 17000 crore
    Answer & Explanation
    Answer – A.Rs. 20000 crore 
    Explanation :
    The Ministry of Railway has proposed the Finance Ministry to create a non-lapsable safety fund named ‘Rashtriya Rail Sanraksha Kosh’ over five years with initial corpus of Rs. 20000 crore and contribute a portion to fund it in the upcoming Budget 2017 to be presented on February 1. The decision to set up the safety fund is based on the recommendation of a high-level safety review committee under the chairmanship of Dr. Anil Kakodkar, former chairman of Atomic Energy Commission

  2. The Apparel and Garment Making Centre has been inaugurated in which place of Meghalaya on January 30, 2017?
    Answer & Explanation
    Answer – C.Ampati
    Explanation :
    Meghalaya’s  first ever Apparel and Garment Making Centre was inaugurated on January 30, 2017 jointly by Union Textiles Minister Smriti Zubin Irani and Chief Minister of Meghalaya Dr. Mukul Sangma near Ampati in South West Garo Hills. The centre would enable to create job opportunity for both men and women of the region and make them economically empowered.

  3. The Ministry of Defence has planned to set up its Defence Unit in which of the following state at a cost of Rs. 1500 crore?
    B.Jammu & Kashmir
    C.Himachal Pradesh
    D.Madhya Pradesh
    Answer & Explanation
    Answer – D.Madhya Pradesh
    Explanation :
    The Union Minister for Panchayati Raj and Rural Development, Narendra Singh Tomar announced on January 31, 2017 that the Ministry of Defence is set to open its Defence Unit in Morena district of Madhya Pradesh. The unit would be set up in Kailaras and Sabalgarh tehsil areas and span over 969.735 hectare of land at a cost of Rs. 1500 crore.

  4. Which start-up firm has launched an integrated accreditation and ERP technology solution to enable higher educational institutions to better manage their multiple accreditation standards?
    A.Accel Partners
    C.SAIF Partners
    D.Sequoia Capital
    Answer & Explanation
    Answer – B.E-paathsala 
    Explanation :
    Bangalore based Start-up firm E-paathsala has launched an integrated accreditation and ERP technology solution for the colleges and universities to enable them better manage their multiple accreditation standards in an easy, efficient and fast manner and bridge the gap identified for specific accreditations. Every college and University has multiple accreditations for standards such as NAAC (National Assessment and Accreditation Council), NBA (National Board of Accreditation) among others.

  5. Based on the Economic Survey 2016-17 report, presented by Finance Minister  Arun Jaitley in the Parliament on January 31, 2017, what is the estimated GDP growth of India for the current fiscal year?
    A.7.5 Percent
    B.7.1 Percent
    C.6.9 Percent
    D.6.5 Percent
    Answer & Explanation
    Answer – D.6.5 Percent
    Explanation :
    The Union Finance Minister Shri Arun Jaitley presented the Economic Survey 2016-17 in the Parliament on January 31, 2017 that provides a base for the government to prepare the annual Budget. The survey has been authored by Chief Economic Adviser Arvind Subramanian. The Economic Survey has estimated that the GDP growth rate for current fiscal will be moderate at 6.5 percent from previous estimate of 7.6 percent and for the FY18 it would be in the range of 6.75 percent to 7.5 percent. Demonetization and rising oil prices have been identified as the major risk to the growth rate. However, remonetization and sufficient circulation of currency notes may return the growth rate to normal position.

  6. Mobile App Mission FINFIT has been launched by which bank in collaboration with Bangalore startup Fisdom to provide its customers an online platform to manage their personal wealth?
    A.ICICI Bank
    B.Yes Bank
    C.Lakshmi Vilas Bank
    D.Kotak Mahindra Bank
    Answer & Explanation
    Answer – C.Lakshmi Vilas Bank 
    Explanation :
    The private sector lender Lakshmi Vilas Bank in partnership with Bangalore based fin-tech startup firm Fisdom, has launched a mobile application “Mission FINFIT” to offer the customers of the bank financial planning and personal wealth management services based on Robo advisory. The mobile app would enable the customer of the bank to plan their finances in an effective manner using the online platform for wealth management thus encouraging them to invest smarter.

  7. The India Post Payment Bank has started its pilot services in which of the given cities from January 30, 2017?
    A.Raipur and Ranchi
    B.Mysore and Gandhinagar
    C.Pune and Indore
    D.Chennai and Kochi
    Answer & Explanation
    Answer – A.Raipur and Ranchi
    Explanation :
    India Post Payments Bank (IPPB) started its operations on January 30, 2017 with the pilot services launched in Raipur and Ranchi. The total paid up capital of the bank is Rs. 800 crore and the government has already infused Rs. 275 crore. The main of IPPB is to encourage financial inclusion rather than promoting commercial interests. It would work jointly with the Department of Post to offer the benefits of the government schemes and financial services which is not easily available to rural people and marginal population of urban area.

  8. The US House of Representatives have passed a legislation to double the salary for which category of Non Immigrant Visa holder on January 30, 2017?
    Answer & Explanation
    Answer – D.H-1B
    Explanation :
    The US House of Representatives has introduced a legislation on January 30, 2017 making it mandatory to raise the minimum salary of the H-1B visa holders to more than double at USD 1,30,000 from the previous USD 60,000. If the legislation is passed, it would highly impact American companies as they may face difficulty in replacing the American employees with foreign workers including IT professionals from India.

  9. Which country has become the first in the world to pass a bill to completely stop investment in fossil fuel?
    Answer & Explanation
    Answer – B.Ireland
    Explanation :
    Ireland became the world’s first country to stop investing in fossil fuels. Ireland has become the first country in the world to divest coal, oil and gas investments from Ireland Strategic Investment Fund. The bill was passed in the Irish parliament by gaining 53 votes out of 90. It was introduced by Deputy Thomas Pringle. The law regarding fully divest public money from fossil fuels expected in the upcoming month.If the bill is enacted, it would force the Ireland Strategic Investment Fund to sell its investment in fossil fuel industries over the next five years.

  10. As per FICCI’s Economic Outlook Survey, what is the projected growth rate of India for the current fiscal year ending March 2017?
    A.5.3 Percent
    B.6.8 Percent
    C.6.9 Percent
    D.7.1 Percent
    Answer & Explanation
    Answer – B.6.8 Percent
    Explanation :
    Based on the latest Economic Outlook Survey report released by FICCI on January 30, 2017, the India’s GDP is projected to grow 6.8 percent this fiscal which is 0.5 percent points less than FICCI’s previous estimate of 7.3 percent. FICCI conducted the last round of survey between December 2016 and January 2017 and collected responses from leading economists representing industry, banking and financial services sectors. A slowdown in the estimate is due to the decrease in services and infrastructure sectors post demonetization.

  11. The rating agency ICRA has predicted that the Bank Credit growth rate for the current fiscal year would float between _________ percent.
    A.7-8 Percent
    B.6-7 Percent
    C.5-6 Percent
    D.4-5 Percent
    Answer & Explanation
    Answer – C.5-6 Percent
    Explanation :
    As per the report of the rating agency, ICRA, the bank credit growth rate is likely to float between 5-6 percent in the current fiscal year. The reason cited includes weak loan demand as the rate of return offered by debt market is better in comparison to banks. Besides, the deposit rate was also projected to drop to 12 percent from the current 14.7 percent this fiscal ending March 2017 due to better cash flow in the system and cut in the deposit rate by the banks.

  12. The cab hailing firm Uber has launched its two-wheeler aggregation service  UberMOTO  in which city on January 30, 2017?
    Answer & Explanation
    Answer – D.Hyderabad
    Explanation :
    American worldwide online transportation network company Uber has launched two-wheeler aggregation service UberMOTO by Uber Founder and CEO Travis Kalanick in Hyderabad on January 30, 2017. UberMOTO can hire two-wheelers for short-distance commute at cheaper rates to provide the last-mile connectivity from and to the upcoming Metro railway stations. Uber inducts two-wheeler owners into the network, the same way it ropes in cabs for the main service.

  13. Who has been appointed as the head of the African Union Commission on January 30, 2017?
    A.Moussa Faki Mahamat
    B.Amina Mohamed
    C.Abdoulaye Bathily
    D.Pelonomi Venson-Moitoi
    Answer & Explanation
    Answer – A.Moussa Faki Mahamat 
    Explanation :
    Chadian foreign affairs minister Moussa Faki Mahamat has been elected as the head of the African Union Commission on January 30, 2017. He will replace Nkosazana Dlamini-Zumaii. He defeated favourites Amina Mohamed of Kenya, Senegal’s Abdoulaye Bathily, Botswana’s foreign minister, Pelonomi Venson-Moitoi and Mba Mokuy of Equatorial Guinea

  14. Where was the first edition of the National Entrepreneurship Awards 2016 function organized on January 30, 2017?
    A.IIT Delhi
    B.IIT Mumbai
    C.Tata Institute of Social Sciences, Mumbai
    D.IIT Chennai
    Answer & Explanation
    Answer – A.IIT Delhi
    Explanation :
    The First ever National Entrepreneurship Awards 2016 was presented by the Union Home Minister Shri Rajnath Singh at Indian Institute of Technology, New Delhi on January 30, 2017. The National Entrepreneurship Awards was instituted by the Ministry of Skill Development and Entrepreneurship (MoSDE) to recognize and honor the entrepreneurial spirit of India’s youth and encourage more and more young Indians to become entrepreneur. The awards were given in 11 different categories divided into two groups: Award Track and Recognition Track.

  15. Which star species was captured performing an unusual act of preying on its companion star by the space observatory ASTROSAT?
    A.Leo Star
    B.Vampire Star
    C.Alpha Star
    D.Dragon Star
    Answer & Explanation
    Answer – B.Vampire Star
    Explanation :
    Based on a study published in the Astrophysical Journal Letters, an unusual action of a small, six billion old, so called vampire star, has been captured by  ASTROSAT, India’s first dedicated multi-wavelength space observatory that was preying on bigger celestial body. The team of scientist involved in the observation included scientists from IIA, Inter-University Centre of Astronomy and Astrophysics (IUCAA), Tata Institute of Fundamental Research (TIFR), Indian Space Research Organisation (ISRO) and the Canadian Space Agency (CSA).

  16. Who among the following is not a member of the committee formed by the Sports Ministry on January 30, 2017 to prepare an action plan for the next three Olympic Games?
    A.Abhinav Bindra
    B.Sachin Tendulkar
    C.Pullela Gopichand
    D.Viren Raquinha
    Answer & Explanation
    Answer – B.Sachin Tendulkar
    Explanation :
    The Ministry of Youth Affairs and Sports led by Vijay Goel constituted an 8-membered committee on January 30, 2017 that would work to prepare an action plan for the next three Olympic Games to be held in 2020, 2024 and 2028. The committee includes badminton coach Pullela Gopichand, Shooter Abhinav Bindra, Indian Hockey Captain  Viren Raquinha, Hockey Coach S. Baldev Singh, senior journalist Rajesh Kalra, Om Pathak from the School Sports Promotion foundation, Professor G L Khanna from Manav Rachna International University and General Sandeep Pradhan, Director of Sports Authority of Gujarat.

  17. Regarded as the Father of Pac-Man, which famous Japanese business tycoon passed away on January 22, 2017 at the age of 91?
    A.Hiroshi Mikitani
    B.Masayoshi Son
    C.Yamada Nagamasa
    D.Masaya Nakamura
    Answer & Explanation
    Answer – D.Masaya Nakamura
    Explanation :
    Japanese Businessman Masaya Nakamura, who founded the leading video game developing company Namco, died on January 22, 2017. He was 91.Nakamura is considered the Father of Pac-Man. In 1980, he played significant role to introduce the arcade games in Namco. The most successful arcade game developed was Pac-Man by Toru Iwatani. Pac-Man has been named in the Guinness World Records as the world’s most successful coin-operated arcade game. He was also awarded the Order of the Rising Sun in 2007 by the Japanese government for his achievements.

  18. When is the Raising Day of National Disaster Response Force (NDFR) observed?
    A.January 29
    B.January 31
    C.February 1
    D.January 28
    Answer & Explanation
    Answer – B.January 31
    Explanation :
    The 12th Raising Day of National Disaster Response Force(NDFR) is celebrated January 31, 2017 to commended the NDRF for its efforts during disaster response. Union Home Minister Shri Rajnath Singh presented the Jeevan Raksha Padak awards and Distinguished Service Medals to the NDRF personnel on this occasion. He will also release the NDRF pictorial book and souvenir to mark the occasion.

  19. What is the name of the online Platform launched by the Income Tax Department (ITD) on January 31, 2017 to analyze deposits made during the demonetisation period?
    A.Operation Knockout
    B.Operation Demonetized Money
    C.Operation Black Money
    D.Operation Clean Money
    Answer & Explanation
    Answer – D.Operation Clean Money
    Explanation :
    Income Tax Department (ITD) lead by ‎Sushil Chandra has launched Operation Clean Money on January 31, 201 to verify the cash deposited in the banks during November 9th to December 30th 2016. An online Verification process will be carried out by comparing the demonetisation datawith information in ITD databases. This information will be available at the portal PAN holder can view the information using the link ‘Cash Transactions 2016’ under ‘Compliance’ section of the portal.

  20. What is the estimated growth rate of the agricultural sector for the current fiscal year according to the Economic Survey 2016-17?
    A.4.1 Percent
    B.6.2 Percent
    C.4.5 Percent
    D.5.2 Percent
    Answer & Explanation
    Answer – A.4.1 Percent
    Explanation :
    As per the Economic Survey 2016-17, the agriculture sector is estimated to grow at 4.1 percent in the current fiscal as compared to 1.2 percent in 2015-16 due to better monsoon. The total area coverage under Rabi crops was recorded to be 616.2 lakh hectare on January 13, 2017 which is 5.9 percent higher than previous year. Similarly the area coverage under wheat as on January 13, 2017 is 7.1 percent higher while the area coverage under gram is 10.6 percent higher than that in the corresponding week of last year.

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