Economy Current Affairs
July 1st week 2015 current affairs
Category : Economy Current Affairs
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1)   Name the bank that launched Tap-n-Pay Service?

 Ans : (2)
1. Axis Bank
2. ICICI Bank
4. SBI
5. Andhra Bank

Explanation: ICICI Bank has launched an NFC-enabled payment service called ‘Tap-n-Pay’. . Tap-n-Pay’ payment service is based on near-field communication (NFC) technology which will allow customers to make over the counter payments without using cash. . ICICI Bank has launched this service in collaboration with Tech Mahindra.


 2)Name the player who won Bahrain Grand Prix? 

Ans : (4)
1. Nicorosberg
2. KimiRaikkonen
3. Sebastian Vettel
4. Lewis Hamilton
5. None

Explanation: British Formula One Racing Driver from England, Lewis Hamilton won Bahrain Grand Prix for Second time in a row. . Lewis Hamilton’s win at Bahrain Grand Prix made him tasted 36th title of his career. . German Racing Driver NicoRosberg was the first runner up


 3)Indian Navy Launched INS Visakhapatnam recently. Now who is the Indian Navy Chief? 

Ans : (1)
1. R.K. Dhowan
2. V. seshadri Sharma
3. R. Radha Krishna Murthy
4. V. VenkateswarRao
5. N. Shiva rajasekhar

Explanation: Indian Navy launches its first stealth destroyer of project 15 B class, INS Visakhapatnam. . The Warship has a displacement of 7,300 tonnes and is 163 metres in length. . INS Visakhapatnam was launched by R.K. Dhowan’s wife MinuDhawan.


 4) Indian Railways launched ……….. to monitor rail projects online? 

Ans : (2)
1. E-Samvidhan
2. E-Samiksha
3. E-Sadviniyoga
4. E-railway
5. E-Rail Nilayam

Explanation: Indian Railways has launched E-Samiksha to monitor rail projects online. . E-Samiksha an online monitoring mechanism is designed by National Informatics Centre (NIC). . E-Samiksha aims as monitoring implementation of various ongoing projects of Railways on real time basis


 5) Recently Civil Services day was observed on …………?

 Ans : (2)
1. 20thapril
2. 21stapril
3. 22nd April
4. 23rd April
5. 24thapril

Explanation: Ninth Civil Services Day was observed on 21st April, 2015. . Civil Services Day is observed by all civil servants to re-dedicate and re-committhemselves to the cause of the people. Note: Prime Minister NarendraModi launched a book on this event titled “BestPractices –Tomorrow is there”


 6)NovokDjokovic Won Monte Carlo Masters Title by defeating Tomas Berdych. Tomas belongs to which country?

 Ans : (1)
1. Czech republic
2. Britain
3. Argentina
4. Brazil
5. France

Explanation: Novak Djokovic has won his second Monte Carlo Masters title of Tennis. . Novak Djokovic of Serbia defeated Tomas Berdych of Czech Republic. . This was Novak Djokovic’s 23rd World tennis Title which brings him equal to Roger Federar and just 4 titles behind Rafael Nadal. Novak Djokovic is ranked World No.1 in Tennis Ranking.


7) Pollution Management and Environment Health Program (PHEM) established by World Bank. It will focus air quality management in how many urban areas?

 Ans : (3)
1. 3
2. 4
3. 5
4. 6
5. 7

Explanation:  World Bank has established pollution Management and Environment Health (PHEM) promgram which will focus on air quality management. . PHEM program will initially run from 2015 to 2020 with an estimated amount of 45 million US dollar. . The program will focus on air quality management in five major urban areas India, China, Egypt, Nigeria and South Africa.

 8)Which among the following won Putlizer Prize?

 Ans : (1)
1. New York Times
2. Forbes Magazine
3. India Today
4. American times Magazine
5. None

Explanation: The New York Times has won two Pulitzer prizes for coverage of the Ebola outbreak in West Africa. . The New York Times staff won the Pulitzer Prize for International reporting. . DanialBerechulak, a freelancer won Pulitzer prize for the feature photography


 9)22nd April was observed across the World as………..?

 Ans : (4)
1.International Mother’s day
2. International father’s Day
3. International Mother & Child day
4. International Mother earth day
5. International Scholars day

Explanation: International Mother Earth Day was observed on 22nd April around the world. . International Mother Earth Day 2015 was observed with the theme “It’s our turn to lead”


 10) Which country’s train set the World speed record of 603 KMPH?

 Ans : (3)
1. China
2. India
3. Japan
4. France
5. USA

Explanation: Japanese Bullet train Maglev set a new world speed record of 603 kmph. . Maglev train broke its previous world record of 580 kmph up in the year 2003


 11) Who is the CEO of “Make My Trip” which is the Online Travel Service Provider company?

 Ans : (2)
1. DeepikaPiyush
2. Deep Kalra
3. DeepaMatondkar
4. DeepthiKanetkar
5. None

Explanation: Online travel Service provider Make My Trip has acquired startup travel guideMygola. . Mygola was founded in 2009 by AnshumanBapna and prateek Sharma.


 12) Which country’s President was honoured with Nishan-E- Pakistan recently?

 Ans : (1)
1. China
2. Japan
3. India
4. Nepal
5. Bangladesh

Explanation: Chinese President Xi Jinping is honoured with Nishan-e-Pakistan Award. . Nishan-e-Pakistan award is the highest civilian award of Pakistan. . The award was presented by the president of Pakistan MamnoonHussain.



 13) Union Finance Ministry retained the rate of Interest at how much percent for GPF for the year 2015-16?

Ans : (1)
1. 8.7%
2. 7.8%
3. 9.0%
4. 5.7%
5. 4.8%

Explanation: The interest rate will apply on provident funds of central government employees,railways and defense forces. About GPF- General Provident Fund (i) Interest rate for senior citizens saving scheme hiked from 9.2% to 9.3% (ii) Interest rate for SukanyaSamridhi account hike from 9.2% to 9.3%


 14) Recently which day is observed as World Book and Copy right day? 

Ans : (3)
1. 21st April
2. 22nd April
3. 23rd April
4. 24th April
5. 25th April

Explanation: UN has observed World Book and Copyright Day across the world on 23rd April 2015. . UNESCO has designated Inchon, South Korea as the World Book Capital for the year 2015 . World Book Day was celebrated first time on 23rd April 1995 by UNESCO. . UNESCO – United Nations Educational, Scientific and Cultural Organisation


15) Among the following who is the youngest US Surgeon General?

 Ans : (3)
1. Andry Murray
2. Boris Lushanky
3. Vivek Murthy
4. Ravindra Narayan
5. Ajay Kuldeep


Explanation: Indian-American Vivek Murthy took oath as 19th US Surgeon General. . Vivek Murthy’s oath was administered by the Vice-President of US, Joe Biden. . Vivek Murthy succeeded Boris D. Lushniak to be the youngest ever in charge of US Public Health

 16) KPMG is known as ………..?

 Ans : (2)
1. UN Body
2. Accounting Firm
3. Financial Organization
4. NGO
5. None

Explanation: Renowned US Accounting firm KPMG elected Lynne Doughite to be the new CEO and Chairman. . Lynne Doughite succeeded John Veihmeyer to be the first women CEO and Chairman of KPMG International . KPMG is among the World’s leading professional services and one of the four biggestaccounting firms is US. . CEO –Chief Executive Officer


 17)Name the actor who won Dada SahebPhalke film foundation Award? 

Ans : (2)
1. Salman Khan
2. Shahrukh khan
3. Aamir Khan
4. AmtabhBacchan
5. Rishi Kapoor

Explanation: Bollywood king Shahrukh Khan is honoured with Dada SahebPhalke film foundation Award 2015. . Shahrukh Khan was conferred with the award for his performance in the movie ‘ Happy New Year’


 18) Which Ministry launched a new mobile app called “Utsonmobile”?

 Ans : (1)
1. Railway Ministry
2. Road transport Ministry
3. Agriculture Ministry
4. Culture & Heritage Ministry
5. Home Ministry

Explanation: Railway ministry has launched a new mobile app, ‘Utsonmobile’ for paperless unreserved tickets. . The application will cover 15 stations between Egmore and Tambram Suburban sections in Chennai of the southern Railway. . The application is developed by centre for Railway Information Systems (CRIS). Note: Suresh Prabhu is Union Railway Minister.


 19)PCI was suspended for poor management and conduct of …………… National Para Athletics Championships held in Ghaziabad? 

Ans : (2)
1. 14th
2. 15th
3. 16th
4. 17th
5. 20th

Explanation: Union Sports ministry has suspended the recognisation of Paralympics Committee of India (PCI) . Saravanansonwal is the Union sports Minister . Earlier PCI was indefinitely suspended by the International Paralympics Committee (IPC).


 20) Now The new age limit for heinous crimes is ………………? 

Ans : (4)
1. 18 years
2. 15 years
3. 17 years
4. 16 years
5. 20 years

Explanation: Union Cabinet has approved lowering of age of juveniles from eighteen to sixteen years for heinous crimes. It cleared the amendment to the Juvenile Justice Act in this regard during a meeting in New Delhi this evening. Official sources said that the amendment seeks to try juvenile in the age group of 16 to 18 years as adults for heinous crimes.


 21) The issue of Net Neutrality during the Zero Hour in the LokSabha recently was raised by which party leader?

 Ans : (1)
1. Rahul Gandhi
2. Sonia Gandhi
3. SeetaramYechury
4. SharadPawar
5. None

Explanation: Mr Gandhi alleged that the government is trying to hand over the control of internet to corporate houses. He questioned if the government is serious not to impinge on the Internet freedom why it has started the consultation process.

 22) Recently, The Ministry of Information and Broadcasting received the ……………. Certification from the British Standards Institute for the broadcasting and print media and films? 

Ans : (1)
1. ISO 9001:2008
2. ISO 9001:10000
3. ISO 9001:2015
4. ISO 9001:2001
5. ISO 9001:2015

Explanation: The Ministry has put in place a well defined procedure and measures for ensuring quality of services offered to the customers on the basis of ISO 9001:2008. It will ensure delivery of services by the Ministry in a qualitative manner.


 23)A device for advance assessment of damage to buildings in cities prone to earthquake was developed by which Indian Institute?

 Ans : (4)
1. IIT-Roorkee
2. IIT-Delhi
3. IISC Bangalore
4. IIIT-Hyderabad
5. IIT-Ranchi

Explanation: The information on the level of shaking will come from seismological inputs in a particular area. The device is now being tested for its efficacy.


 24) Two Indians were selected for the 2015 Yale World Fellows in which country for their exemplary mid-career work?

 Ans : (1)
1. US
2. UAE
3. UK
5. Canada

Explanation: An Indian conflict reporter, Rahul Pandita and a health care founder, ZeenaJohar has been selected by the prestigious Ivy League university. They were chosen from a pool of about 4,000 applicants for the New Haven, Connecticut-based university`s signature global leadership development initiative. Every year, the University invites a group of exemplary mid-career professionals from a wide range of fields and countries for an intensive four-month period of academic enrichment and leadership training.


 25) Numaligarh Refinery Limited of India signed a Memorandum of Understanding with which company for export of petroleum products recently?

Ans : (2)
1.Dhaka Oil Corporation
2.Bangladesh Petroleum Corporation
3.Dacca Petroleum Corporation
4.Kualalampur Oil Corporation
5.None of these

Explanation: The MoU provides for export of petroleum products from NRL’s Marketing Terminal in Siliguri to Bangladesh Petroleum’s Depot at Parbatipur in Bangladesh through the proposed ‘Indo-Bangla Friendship Pipeline.


 26) Mount Sinabung volcano is located in which country?

 Ans : (3)
1. China
2. Japan
3. Indonesia
4. Australia
5. South Korea

Explanation: It is being active once again during June 2015 and has been active since 2010 after being dormant for more than 400 years . Mount Sinabung volcano is situated on the island of Sumatra in Indonesia. It had witnessed a series of volcanic eruptions in 2010, 2013, 2014 and 2015.


 27) 1 Lakh MW target was approved for India’s solar power capacity by 2022 under which mission?

 Ans : (1)
1. Jawaharlal Nehru National Solar Mission
2. Rajeev Gandhi National Solar Mission
3. Indira Gandhi National Solar Mission
4. Mahatma Gandhi National Solar Mission
5. Sardar Vallabhai patel National Solar Mission

Explanation: The Cabinet gave its approval on 17th June’15 for stepping up India’s solar power capacity target under the Jawaharlal Nehru National Solar Mission by five times, reaching 1,00,000 Mega Watt by 2022. The target will principally comprise of 40,000 mega watt Rooftop and 60,000 mega watt through Large and Medium Scale Grid Connected Solar Power Projects. With this ambitious target, India will become one of the largest Green Energy producers in the world, surpassing several developed countries.


 28) On 17th June’15 Union Public Service Commission (UPSC) told the Delhi High Court that it cannot include whom for applying for civil services exam as the category was not yet clearly defined by the supreme court? 

Ans : (1)
1. Transgender
2. Minority people
3. SC/ST’s
4. All Backward classes
5. None

Explanation: The PIL, which has sought quashing of UPSC`s notice for Civil Services preliminary examination to the extent of the gender or sex eligibility criteria, has now been listed for hearing on July 27. The petition has contended that lack of the third gender option has resulted in transgender not being able to apply for examination which is scheduled to be held on August 23.


 29) Which Mobile App was launched on 17th June’15 to provide instant updates and an opportunity to receive messages and emails directly from prime minister? 

Ans : (1)
1. Narendra Modi
2. PM India
3. Pradhan Sevak
4. Pradhan Mantri
5. Aap ki Daas

Explanation: The Android-based app, Narendra Modi mobile app is also aimed at giving a chance to people to interact with the Prime Minister and share ideas and suggestions. The App has several innovative features and it can be download from Play Store.


 30) What is the title of the book which was released recently, that has been complied by Dr. Imran Chaudhary and Abhijeet Singh published by Muslim Rashtriya Manch?

 Ans : (1)
1. Yoga and Islam
2. Islamic Yoga
3. Yoga for All
4. Karma Yoga
5. None


Explanation: The book clearly indicates that Yoga has nothing to do with religion and is universally accepted.

 31) Asai has overtaken Europe as the world`s …………… richest region?

 Ans : (2)
1. 1st
2. 2nd
3. 3rd
4. 4th
5. None

Explanation: According to an annual report by the Boston Consulting Group, a global management consulting firm, the Asia Pacific, excluding Japan, held 47 trillion dollars in private wealth last year as the number of new millionaires rose in China and India. North America is the world`s richest region with 51 trillion dollars, but is expected to be surpassed by Asia in 2016. Asia is also projected to hold 34 per cent of global wealth in 2019. As in both 2012 and 2013, Asia-Pacific, excluding Japan, remained the fastest growing region in 2014.


 32) Sunil Chhetri is the player who became the ……………. Indian footballer to score 50 international goals?

Ans : (1)
1. First
2. Second
3. Third
4. Fourth
5. Fifth

Explanation: He achieved this feat in his team’s 2018 World Cup qualifying match against on 16 June at Tamuning (Guam). Former captain Bhaichung Bhutia stays at the second spot with 42 goals in 107 matches while IM Vijayan has 40 goals from 79 games.


33) Name the state government that has approved an Anti spitting law on 16th June’15? 

Ans : (3)
1. Goa
2. Haryana
3. Maharashtra
4. Tamil Nadu
5. Kerala

Explanation: Maharashtra will become the first state in India to get an anti-spitting law if cleared by the Assembly. Under the proposed law, a fine of Rs. 1000 and provision for one-day community service at a public office or a government office have been made.


 34) Charles Correa was the chief architect of ………………….who passed away recently? 

Ans : (1)
1. Navi Mumbai
2. Visakhapatnam port
3. Coachin port
4. Odisha Coast Port
5. Kolkata Port

Explanation: Charles Correa was one of India’s greatest architects and urban planners, known for adapting his designs to local climates and building styles. Some of Charles Correa’s iconic works include Gandhi Smarak Sangrahalaya Ahmedabad, the Handloom Pavilion in Delhi, Bharat Bhavan and Vidhan Bhavan in Madhya Pradesh, Jawahar Kala Kendra in Jaipur, the Permanent Mission of India at the U.N., New York and Kala Academy in Goa.


 35) The author of the book ‘Recasting India: How Entrepreneurship is changing the world`s Largest Democracy’ is ………..?

 Ans : (3)
1. Jhanvi Mehta
2. Vikranth Malhotra
3. Hindol Sengupta
4. Manohar agarwal
5. Vikarnth Sehghal

Explanation: In the book the author explains emergence of new class of entrepreneurs in India, in recent times, especially from geographically and socially disadvantage spaces.


 36) The author of the book “Bikhare Khyalat” is …………..?

 Ans : (1)
1. Prof. Abdul Haq
2. Iqbal Khan
3. Irfan Qadir
4. Jhumpa Lahiri
5. None

Explanation: The book is the Urdu Translation of Mohammed Iqbal’s writing in English tilted ‘Stray Reflections’.


 37) NOWCAST is the Insurance Portal and Weather alert service launched for …………….recently? 

Ans : (1)
1. Framers
2. Scientists
3. Astronomers
4. Both 2 & 3
5. None

Explanation: The Mission Mode Project in Agriculture under National e-Governance Plan (NeGP-A) aims to achieve rapid development of agriculture in India through the use of ICT by ensuring timely access to agriculture related information for the farmers of the country.


 38) Recentl, which state government directed to make wearing of helmets for two-wheelers compulsory from 1st July’15 onwards?

 Ans : (2)
1. Delhi
2. Tamil Nadu
3. Karnataka
4. Maharashtra
5. Madhya Pradesh

Explanation: The order was passed by Justice N Kirubakaran who directed the State Home Secretary to make the public aware of the happening through media under Section 129 of the Motor Vehicles Act, 1988.

 39) Japan’s parliament recently, passed a bill to lower the voting age from 20 to ………..? 

Ans : (1)
1. 18
2. 19
3. 20
4. 17
5. 16

Explanation: The bill that seeks revision of the public office election law was passed by the House of Councilors (upper house) after being approved in the House of Representatives (lower house).


40) Sharad Pawar has been re-elected as the President of the………… Cricket Association on 17th June’15?

Ans : (2)
1. Chennai
2. Mumbai
3. Delhi
4. Bangalore
5. Hyderabad

Explanation: Veteran leader of Nationalist Congress Party (NCP) Sharad Pawar was on 17 June 2015 re-elected as the President of the Mumbai Cricket Association (MCA).

 41) Recently, How many states have been included in the National Dairy Plan-I by the Cabinet Committee on Economic Affairs (CCEA)? 

Ans : (3)
1. 1
2. 2
3. 3
4. 4
5. 5

Explanation: The Cabinet Committee on Economic Affairs (CCEA) on 17 June 2015 approved inclusion of Uttarakhand, Jharkhand and Chhattisgarh in the list of States to be covered under the National Dairy Plan- I (NDP-I).


42) Recently, Spain made the agreement with which country , on abolishing visa requirements for the holders of diplomatic passports? 

Ans : (1)
1. India
2. Indonesia
3. Nepal
4. Bhutan
5. Srilanka

Explanation: Union Cabinet chaired by Prime Minister Narendra Modi on 17th June’15 approved the agreement between India and Spain on abolishing visa requirements for the holders of diplomatic passports.

 43) The position of India out of 162 countries in the latest annual ranking of Global Peace Index 2015 is ………………?

 Ans : (2)
1. 55
2. 143
3. 78
4. 124
5. 119

Explanation: India slipped by two positions this year. In South Asia Bhutan has been ranked as the most peaceful country


44) To which country India offered its expertise in development of potentially rich natural gas sector recently?

Ans : (2)
1. Zambia
2. Tanzania
3. Turkey
4. Pakistan
5. Indonesia

Explanation: The MoUs signed included a loan agreement between Exim Bank and Tanzanian government on a line of credit for 268.35 million dollars for extension of Lake Victoria pipeline project. The two countries inked eight MoUs in various fields including Agriculture, Tourism and Hydrography to expand engagement in different sectors. The agreements were signed after delegation level talks between Prime Minister Narendra Modi and President of Tanzania Jakaya Mrisho Kikwete in New Delhi.

45) The sale of thermocol plates were banned in the entire state to promote leaf plates. Which state is that?

Ans : (1)
1. Jharkhand
2. Kerala
3. Telengana
4. Andhra Pradesh
5. Uttar pradesh

Explanation: It would help generate employment for the poor and tribal, who are engaged in making leaf plates.


 46) Niraj Antani & who is the other Indian-American among the following , who was appointed to the board of the 2015-2016 Future Majority Project of the United States (US) Republican Party on 18th June’15? 

Ans : (2)
1. Janikya Mehtha
2. Janak Joshi
3. Gyan Joshi
4. Mithula Vyas
5. Madhuri vital

Explanation: Niraj Antani, an Ohio State legislature and Janak Joshi, a Colorado State legislature, were on 18 June 2015 appointed to the board of the 2015-2016 Future Majority Project. The Board of FMP is chaired by TW Shannon, Chairman and former Speaker of the Oklahoma House of Representatives.

 47) A version of Bhagavad Gita was launched on 17 June 2015 in which country’s language during an international yoga conference? 

Ans : (2)
1. French
2. Chinese
3. Japaneese
4. Russian
5. Spanish

Explanation: The book was released by Indian Ambassador to China Ashok K. Kantha. The book was translated by Chinese Professor Wang Zhu Cheng and Ling Hai of the Zhejiang University in Shanghai and was published by the Sichuan People’s Publications.


48) Anandpur Sahib is the historic town of which state , that completed 350 years of its establishment on 19th June’15? 

Ans : (1)
1. Punjab
2. Haryana
3. Gujarath
4. New Delhi
5. Uttar Pradesh

Explanation: Anandpur Sahib (Ropar district, Punjab) is a town deeply revered by Sikhs all over the world. It was founded on this day in 1665 by ninth Sikh Guru, Guru Teg Bahadur. The city is known as “the holy City of Bliss” and is one of the Sikh’s most important sacred places.

 49) Which team won the National Basketball Association (NBA) title 2015?

Ans : (4)
1. Cleveland Cavaliers
2. L.A. Clippers
3. L.A. Lakers
4. Golden State Warriors
5. Siver Coin Dare devils

Explanation: Golden State Warriors celebrated its first N.B.A. championship in 40 years. This was fourth overall NBA title for Golden State Warriors and the first title since 1975. The team is based on Oakland, California and has now won NBA titles in 1947, 1948, 1975 and 2015.


 50) How many Indian-origin women found place in Forbes` inaugural list of America`s 50 richest self made women? 

Ans : (2)
1. 1
2. 2
3. 3
4. 4
5. 5

Explanation: Neerja Sethi and Jayshree Ullal. India-born Neerja Sethi, with a net worth of 1.1billion US Dollar, ranked 14th while London born Jayshree Ullal with 470 million US Dollar net worth comes at the 30th Spot on the list. Neerja Sethi, co-founded IT consulting and outsourcing company Syntel with her husband, billionaire Bharat Desai, in 1980. Jayshree Ullal is the president and CEO of Arista Networks.