Economy Current Affairs
December 2nd week 2014 current affairs
Category : Economy Current Affairs
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1) Who is the first non-UPSC member in history to be appointed as UPSC chairman?

Ans : (3)
1. Rohan Guptha
2. Dinesh Karthik
3. Deepak Guptha
4. Rajesh Kulkarni
5. Ratan Khode
Explanation: Deepak Gupta. He is a retired IAS officer of Jharkhand Cadre.
About UPSC Chairman, Members powers and functions:
The Article 315 to 323 of the Constitution deals with the appointment of UPSC members, powers and functions of the UPSC.
The Chairman and other members of UPSC shall be appointed by President of India.
Generally, UPSC consist of 9 to 11 members.
• Qualifications - In Article 316, it is mentioned that at least one half of the members of UPSC shall be the persons who have held office for at least 10 yrs either under Govt of India or Govt of a State. But not specified any qualifications for other half members of UPSC.
• A member of UPSC shall hold office for a term of 6yrs from date on which he enters into the office or until he attains age of 65 yrs whichever is earlier. Provided that a member can resign any time to President and can be removed from his office.
• Article 319 - The Chairman of UPSC is not eligible for further employment either under Govt of India or a State. The other members of UPSC are only eligible for office of Chairman of UPSC or Chairman of a State PSC but not for any other employment
2) Name the person , Who has been selected to be the next Chairman of the Press Council of India in Nov`14?
Ans: (1)
1. Chandramauli Kumar Prasad
 2. Chandra Kumar Prasad
3. mauli Kumar Prasad
4. Kumar Prasad
5. Prasad Rao
Explanation: Chandra Mauli Kumar Prasad is the former Supreme Court Judge. He will succeed Markanday Katju.
About Press Council of India:
• The Press Council of India was first set up on 4 July 1966 by the Parliament to regulate the press in India. The basis at that time was the Press Council Act, 1965 which resulted from the recommendations of the First Press Commission of India (1952-1954). The stated objectives were "to help newspapers maintain their independence" and to "raise the standards" through a code of conduct.
• The Press Council is headed by a Chairman: usually,. a retired judge of the Supreme Court of India (except for the first chairman, Justice J. R. Mudholkar, who was a sitting judge of Supreme Court of India in 1968). The Council consists of 28 other members of whom 20 represent the press and are nominated by the press organisations/news agencies recognised and notified by the Council as all India bodies of categories such as editors, working journalists and owners and managers of newspaper; 5 members are nominated from the two houses of Parliament and 3 represent cultural, literary and legal fields as nominees of the Sahitya Academy, University Grants Commission (U.G.C.) and the Bar Council of India. The members serve on the Council for a term of three years
 3) Which country won the Asia Cup Championship for Deaf 2014 on 24th Nov`14?
1. Indonesia
2. Nepal
3. India
4. Srilanka
 5. Australia
Explanation: India, defeating Sri Lanka.
4) How many global organisations signed a memorandum of understanding (MoU) on 24th Nov`14 to end open defecation in India?
Ans: (1)
1. 3
2. 4
3. 5
4. 6
5. 2
Explanation: World Toilet Organisation (WTO), WASTE and the Financial Inclusion Improves Sanitation and Health (FINISH). Three organisations have signed a MoU to support the Central government in making the country free of open defecation and promoting sustained usage of sanitation systems.
5) On which day, The International Day for the Elimination of Violence against Women was observed across the world ?
1. 21 Nov ` 14
 2. 22 Nov ` 14
 3. 23 nov` 14
 4. 25 Nov ` 14
 5. 24 Nov ` 14
Explanation: 25th Nov`2014. It was observed to raise awareness about violence against women and discuss solutions that would work for women community.
6) Among the following , On whose birth anniversary International Meatless Day and Animal Rights Day was observed on 25th Nov`14?
1. Rev Sadhu Vaswani
2. Ramakrishna Paramhansa
3. Swami Vivekananda
4. Sadhu Vallabhacharya
2. Sri Dattacharya
Explanation: Rev Sadhu Vaswani. It was the 135th birth anniversary of Rev Sadhu Vaswani observed in India.
International Meatless day and Animals rights day:
The Meatless Day and Animals Rights Day Campaign is an international ecological movement, commemorated on November 25th. It was created in India by Dadaji J. P. Vaswani in honor of Sadhu T. L. Vaswani. Its main objective is the preservation of all forms of life and the struggle against the killing of animals
7) Name the person Who has won the 2014 Shakti Bhatt First Book Prize for his novel `The Scatter Here Is Too Great` (Random House India)?
1. Bilal Tanweer
2. Jaswanth Bilal
3. Tanwer Kaushal
4. Biklal Tanek ` Suanz
5. None
Explanation: Bilal Tanweer. He was born and raised in Karachi, has published fiction, poetry and translation in various international journals.
8) Name the person Who has been appointed as the new Special Representative of India for Boundary Negotiations with China on 24th Nov`14?
1. Ajit Doval
2. Sushma Swaraj
3. Atul Shrivastav
4. Anish Khurana
5. None
Explanation: Ajit Doval. He is an National Security Advisor of India.
9) Among the following which state polling was recorded as 70% in the first phase held on 25th nov` 14?
1. Telangana
2. Andhra Pradesh
3. J & K
4. Goa
5. Kerala
Explanation: 70%. It is a record in the history of J&K.
 10) Among the following PM Narendra Modi has requested on 25th Nov`14 to collectively make the constitution and adopt it at the earliest, To which country`s political parties?
1. Bangladesh
2. Nepal
3. Srilanka
4. Japan
5. China
Explanation: Nepal. It will give a new face of the democratic Nepal to the whole world.
11) Name the person Who will be the new Secretary General of the Lok Sabha with effect from 1st Dec`14?
1. Atul Bajpayee
2. Anoop Mishra
3. Anith Kaur
4. Amith Kapoor
5. Sushil Shinde
Explanation: Anoop Mishra, Senior IAS Officer. He is a 1978-batch IAS officer and held several positions in the Centre as well as in the Uttar Pradesh government.
12) Identify Which state government has reduced the retirement age of government employees from 60 to 58 years on 25th Nov`14?
1. Punjab
2. UP
3. Haryana
4. Himachal Pradesh
5. Goa
Explanation: The BJP-led state government reversed the retirement age of govt. employees from 60 to 58 years.
 13) Recently National Milk Day was observed on _____?
1. 26 Nov ` 14
2. 27 Nov` 14
3. 28 Nov ` 14
 4. 30 Nov` 14
5. 1 Nov `14
Explanation: Indian Dairy Sector has celebrated National Milk Day to mark the 93rd birth anniversary of Father of White Revolution, Dr. Verghese Kurien.
14) Which bank became first in India to fully own an insurance business?
1. Axis Bank
2. Kotak Mahindra Bank
3. Canara Bank
4. SBH
5. SBI
Explanation: Kotak Mahindra Bank. It happened after Reserve Bank of India (RBI) gave permission to set up a wholly-owned non-life insurance company called Kotak General Insurance. It will be the 29th non-life company in the country.
15) Hokianga Harbour is in which country at which recently , Century old Shipwreck with 499 Chinese bodies found?
1. New Zealand
2. China
3. Japan
4. Indonesia
5. Australia
Explanation: Hokianga Harbour. These miners, some in wooden coffins and others in sealed zinc caskets, had died during New Zealand`s gold rush.

 16) What is the Name of the Boxer who has received the Arjuna Award on 26th Nov’14?

1. Manoj bajpayee
2. Manoj Kumar
3. Avinash Kurni
4. Atul Malhotra
5. None
Explanation: Manoj Kumar. The 2010 Commonwealth Games gold-medalist was given the award by Union Sports Minister Sarbananda Sonowal at a function in New Delhi.
17) Michael Phelps is the Male Athlete of the Year at the 2014 USA Swimming Golden Goggle Awards presented on .........?
1. 24 Nov ` 14
2. 25 Nov ` 14
3. 26 Nov ` 14
4. 27 Nov ` 14
5. 23 Nov ` 14
Explanation: Michael Phelps. He was awarded with the title despite being suspended from competition for six months after a drunken driving arrest in September 2014.
18) Who is the Indian Ornithologist, whose name is given to the new species of bird Muscicapa flycatcher was named on 25th Nov`14?
1. Naveen Kaur
2. Navjot Sodhi
3. Navneeth Suthi
4. Naresh Mishra
5. None
Explanation: Navjot Sodhi. The bird found in Sulawesi Island of Indonesia was named as Muscicapa Sodhii.
19) Phillip Hughes is which country Cricketer went in a critical condition of induced coma after a bouncer ball of Sean Abbott hit back of his head during a Sheffield Game at Sydney Cricket Ground in Australia on 25th Nov`14?
1. Australia
2. Canada
3. New Zealand
4. Bangladesh
5. Srilanka
Explanation: Phillip Hughes. The ball struck just below his helmet when he attempted a pull shot in a Sheffield Shield match at the SCG. After New South Wales` paceman Sean Abbott ball struck Hughes, he collapsed and hit the ground.
20) Who is the Indian icon appointed Goodwill Ambassador for South Asia by United Nations Women on 25th Nov`14?
1. Saina Nehwal
2. Heena Sindhu
3. Sania Mirza
4. Koneru Hampi
5. None
Explanation: Sania Mirza, is the Indian Tennis player.
Other Goodwill ambassadors: UN Women`s other Goodwill Ambassadors include British actor Emma Watson, Academy Award winner Nicole Kidman, HRH Princess Bajrakitiyabha Mahidol of Thailand, and Indian actor-filmmaker-singer Farhan Akhtar
21) Who is the Indian NGO who won United Nations Lighthouse Activities award for the year 2014 on 25th Nov`14?
1. Aaranyak
2. Aadesh Mishra
3. Ayush
4. Aryan Guthel
5. None
Explanation: Aaranyak, Assam based NGO. NGO is working for the conservation of nature and a Kathmandu-based International Centre for Integrated Mountain Development (ICIMOD).
About Lighthouse Activities:
"The `Lighthouse Activities` selected by the United Nations Climate Change Secretariat under its `Momentum for Change` Initiative from all over the world are inspiring and transformational mitigation and adaptation activities.
The Lighthouse Activities are some of the most practical, scalable and replicable examples of what people, businesses, governments and industries are doing to tackle climate change
22) Name the Television Channel, with which The Independent Documentary Producers’ Association (IDPA) has signed a five year contract on 27th Nov`14 to showcase documentaries from across India?
1. Zee TV
2. Doordarshan
3. Vanitha TV
4. Gemini TV
5. Star Plus
Explanation: Doordarshan. Under the MoU, the documentary makers will be paid substantially, which will help them to recover their costs to an extent.
23) Which Indian telecom company has launched mobile security value added service that will allow its customers to track location of their lost mobile phones?
1. Airtel
3. Vodafone
 4. Docomo
5. Idea
Explanation: Bharat Sanchar Nigam Limited (BSNL). BSNL is offering the solution M-secure, in association with Beyond Evolution. Through M-secure solution user can remotely manage data contained in his or her lost mobile handset.
24) Which demand of India concerning food security is approved by World Trade Organization (WTO)?
1. Food Facilitation Agreement (FFA)
2. Food Safety Agreement (FSA)
3. Trade Facilitation agreement (TFA)
4. Import & Export Facilitation Agreement (IEFA)
5. None
Explanation: Trade Facilitation Agreement (TFA). The WTO has approved a trade facilitation agreement (TFA) while agreeing to India`s demand for continuing the peace clause till a permanent solution is found to the food stockpiling issue, crucial for continuing food security scheme. Under the peace clause, a WTO member gets immunity against penalty for breaching the food subsidy cap. As per the WTO norms, a developing nation can provide food subsidy of upto 10 percent of the total farm output.
25) Identify how many countries that will be eligible for the tourist visa on arrival facility enabled by electronic travel authorization launched on 27th Nov`14 in India?
1. 41
2. 43
3. 44
4. 45
5. 46
Explanation: It will make travel seamless and hassle-free for foreign tourist in India.
26) Name the country In which , the World Health Organisation on 27th Nov`14 suspended its activities in the aftermath of a cold-blooded murder of four polio vaccinators?
 Ans : (1)
1. Baluchistan
2. Pakistan
3. Afghanistan
4. Canada
5. USA
Explanation: Baluchistan. WHO and the United Nations International Children`s Educational Fund (UNICEF) have been assisting the provincial government of Baluchistan in eradicating polio virus from the province for more than twenty years.
27) Recently, Which IPL Cricket team should be terminated without further enquiry as one of its official has been indicted in IPL Match fixing by an inquiry committee, According to the observation made by Supreme Court on 27th Nov`14?
Ans: (1)
1. Chennai Super Kings
2. Rajasthan Royals
3. Delhi Dare devils
4. Kolkata Nightriders
 5. None
Explanation: Chennai Super Kings. It`s one official Gunuranth Meiyappan has been indicted in IPL Match Fixng.
28) "The Dramatic Decade" is the book written by which Indian President that will be published in the December`14?
1. Prathibha Patil
2. Abdul Kalam
3. Pranab Mukherjee
4. K R Narayan
5. None
Explanation: "The Dramatic Decade: The Indira Gandhi Years".
About the Book:
"The Dramatic Decade: The Indira Gandhi Years" by the President of India, Pranab Mukherjee will be available on from December 11, 2014. The e-commerce site will be accepting pre-orders of the book. The book features the story of India during the Emergency Era under the rule of the then Prime Minister Indira Gandhi. The book is a first-person account of the Emergency Days people of the country went through. The incidents mentioned in the book are a first-hand information through the eyes of the President of India during that era.
29) Which Indian e-commerce company that is set to be acquired by Amazon Company
Ans: (1)
2. Quick
5. None
Explanation: If this deal goes through, it will break the record made by Flip kart’s acquisition of Myntra for nearly USD 340 Million.
30) Trilochan Sastri has been awarded with which award for contribution in the field of operations management, quantitative methods, data structures, algorithms and discrete mathematics
1. Bharath Asmitha
2. Bharath Panditha
3. Bharath Sushmitha
4. Bharath Aasritha
5. None
Explanation: Trilochan Sashtri. He is a professor in Quantitative Methods and Information Systems of IIM Bangalore.
About Bharath Asmitha:-
The Bharat Asmita National Awards are meant to recognize the selfless and awe inspiring feats of leaders from the field of Management Education, Journalism & Mass Media and Politics

31) Namsai is the district that officially became the 18th district of which state on 25th Nov`14?

1. Uttar Pradesh
2. Arunachal Pradesh
3. Himachal Pradesh
4. Kerala
5. Telangana
Explanation: Namsai. Arunachal Pradesh. Situated in the easternmost part of India, the place is full of rich vegetation and mind touching hospitality of tribal life. One of the very important town of the state is NAMSAI, the land of Golden Pagoda!
On August 15, 2014, the subdivision was declared as a new district of Arunachal Pradesh. Namsai district is the 18th district of the state
32) Shariah Equity Fund is which bank`s Mutual Fund scheme launched on 26th Nov`14 aimed at attracting investments from Muslim populations of India?
1. State Bank of India
2. Canara Bank
3. RBI
4. Axis Bank
5. Andhra Bank
Explanation: Shariah Equity Fund. 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.
33) Name the country In which Bharti Airtel launched its first commercial 4G Service in Africa on 26th Nov`14?
1. Seychelles
2. Nigeria
3. Ethiopia
4. Tanzania
5. Kenya
Explanation: Seychelles. Seychelles became the first countries amongst sub-Saharan Africa to commercially deploy this cutting-edge technology.
34) For the year 1964, Gold winning of which sport Team of India was honoured by Union Ministry of Sports on 26th Nov`14?
1. Football
2. Volleyball
3. Hockey
4. Cricket
5. Squash
Explanation: 1964. The team was honoured during the commemoration of the Golden Jubilee of 1964 Tokyo Olympics where Indian hockey team had defeated Pakistan by 1-0 and won a gold medal.
35) How many states are mentioned in the (Scheduled Castes) Orders (Amendment) Bill, 2014 passed by Lok Sabha that seeks to include more castes under Scheduled Castes category
1. 3
2. 4
3. 5
4. 6
5. 7
Explanation: Tripura, Kerala, Madhya Pradesh and Odisha. The community under SC Category have included in the bill are Kerala (Pulluvan, Thachar (other than `Carpenter`); Madhya Pradesh (Dahiya); Odisha (Amata, Amath, Bajia, Jaggili, Jagli, Buna Pano); Tripura (Chamar-Rohidas, Chamar-Ravidas, Dhobi, Jhalo-Malo.
36) Who is the author of the book `Black Tornado: The Three Sieges of Mumbai 26/11` released in Nov`14?
1. Sandeep Unnithan
2. Sanjay Bansali
3. Sanoj Matra
4. Sooraj Raathi
5. None
Explanation: Sandeep Unnithan. He is a Deputy Editor with India Today magazine in New Delhi.
37) Who is the author of the book `Your Dreams Are Mine Now: She showed him What Love` released in Nov`14?
1. Rajender Singh
2. Ravinder Singh
3. Rajesh Singh
4. Virendra Singh
5. None
Explanation: He is best known for his debut novel `I Too Had a Love Story` which was based on his life.
38) How many Indians authors who were among the list of five authors shortlisted for DSC Prize for the year 2015 as announced on 27th Nov`14?
1. 1
2. 3
3. 2
4. 4
5. 5
Explanation: Jhumpa Lahiri and Shamsur Rahman Faruqi.
DSC Prize is one of the South Asia`s biggest literary awards. About DSC prize:
The DSC Prize for South Asian Literature celebrates the rich and varied world of literature of the South Asian region. Authors could belong to this region through birth or be of any ethnicity but the writing should pertain to the South Asian region in terms of content and theme.
The prize brings South Asian writing to a new global audience through a celebration of the achievements of South Asian writers, and aims to raise awareness of South Asian culture around the world.
The DSC Prize for South Asian Literature was instituted in 2010 by its founder, Surina Narula.
The DSC Prize carries an award of US $50,000 and the first edition of the prize has generated tremendous response in international literary forums
39) Phyllis Dorothy James is the ..........novelist who died at the age of 94 in Oxford, UK on 27th Nov`14?
1. Crime
2. Science
3. Mythological
4. Economic
5. None
Explanation: She was best known for her series of detective novels starring the policeman and poet Adam Dalgliesh.
40) Identify that which day, RBI released the guidelines for Licensing of Payment Banks?
1. 26 nov ` 14
2. 27 nov ` 14
3. 28 nov ` 14
4. 29 nov ` 14
5. 30 nov ` 14
Explanation: 27th Nov`14. These guidelines will allow mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
41) Which country has announced to offer polio vaccine for SAARC countries on 27th Nov`14?
1. Kenya
2. Srilanka
3. India
4. Indonesia
5. Nepal
Explanation: The offer was made by Prime Minister Narendra Modi at the 18th SAARC summit in Kathmandu. .
42) Identify that how many SAARC countries have signed an energy pact at the 18th SAARC Summit held in Nepal?
1. 6
2. 8
3. 9
4. 3
5. 4
Explanation: All 8 countries. Initially Pakistan had opposed the energy pact, citing non-completion of internal process but finally agreed to sign it.
43) (TS-iPASS) bill 2014 was passed in which state Assembly on 27th Nov`14?
1. Telangana
2. Tripura
3. Nagaland
4. Arunachal Pradesh
5. Andhra Pradesh
Explanation: It is a Telangana State Industrial Project Approval and Self Certification System. The Bill is aimed at speeding up processing for issue of various licenses, clearances and certificates required by industries. The bill seeks to provide an investor-friendly environment in the State.
44) Name the country With , India has signed a Memorandum of Understanding (MoU) for cooperation in Oil and Gas sector for a period of five years on 28th Nov`14?
1. Mozambique
2. Monaco
3. Malaysia
4. Mongolia
5. Tanzania
Explanation: Mozambique. It was signed during Minister of Foreign Affairs of Mozambique Oldemiro Julio Marques Baloi visit to India.
45) Identify the milestone which has been achieved by Bombay Stock Exchange for the first time after rising to record high level on 28th Nov`14?
1. 50 lakh Crore
2. 100 Lakh Crore
3. 200 Lakh Crore
4. 500 Lakh Crore
5. 70 Lakh Crore
Explanation: 100 Lakh Crore. BSE is now ranked at 10th position globally with a market capital of over Rs.100 Lakh Crore.
46) Leviathan is the Name of the film chosen as the best film of the 45th International Film Festival of India after the 11-day event came to a close in Panaji on 30th Nov`14. This is........ Film?
1. Russian
2. American
3. Indian
4. Pakistani
5. Canadian
Explanation: Leviathan, the Russian film. The Golden Peacock and the cash prize of 40 lakh rupees was shared equally between the film`s Director Andrey Zvyagintsev and the Producers Alexander Rodnyasky and Sergey Melkumov.
47) "Ek Hazarachi Note" is the film which has received how many awards on 30th Nov`14 at 45th International Film Festival of India?
1. 3
2. 2
3. 4
4. 5
5. 1
Explanation: "Ek Hazarachi Note", Marathi feature film. The Special Jury award carries a certificate and cash prize of 15 Lakh rupees while the Special Centenary award consists of Silver Peacock and a cash prize of ten lakh rupees.
48) The Best Female actor was shared by how many members the 45th International Film Festival of India?
1. 1
2. 3
3. 2
4. 5
5. 6
Explanation: The Best Female actor award was shared by Alina Cruz for a Spanish film from Cuba, "Behaviour" and Sarit Larry for the performance in Israel film, "The Kindergarten Teacher".
49) The Best Male actor award was shared by two ,members, one for the Russian Film and the other for which film at the 45th International Film Festival of India?
1. American
2. Indian
3. Srilankan
4. Nepalese
5. Pakistanis
Explanation: In the male section also, the best actor award was bagged by two male actors. Dulal Sarkar for the Indian film "A short Story, Chotoder Chobi"and Alexey Ponkratav for the film "Leviathan" shared this award.
50) Which player won the Macau Open Grand Prix Gold Badminton Title on 30th Nov`14?
1. Saina Nehwal
2. Sania Mirza
3. Heena Sindhu
4. Pullela Gopi Chand
5. Kim Hyo Min
Explanation: In the summit clash of the women`s singles, she prevailed over 91st ranked Kim Hyo Min of Korea.