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1. The Supreme Court has dismissed telecom operators’ plea today against allowing the Comptroller & Auditor General to audit their revenues. The Supreme Court judgment allows CAG to audit telecom companies to determine whether the Government is getting its due share as they use the spectrum which is government property.
The Association of Unified Telecom Service Providers of India, representing the interest of CDMA players including Reliance Communications and Tata Teleservices, had earlier said the High Court order was against the telecom licence conditions.
2. Admiral Robin K Dhowan took over as the Chief of Naval Staff today. The post was lying vacant for nearly two months since DK Joshi resigned suddenly in the wake of a series of accidents. He has been the acting Navy chief since Joshi’s exit. He will have a tenure of 25 months, retiring in May 2016.
He superseded Western Naval Commander Shekhar Sinha, who was the senior-most Vice Admiral, to get the post as majority of the 14 mishaps, including two major submarine accidents, took place under his command during the last 10 months.
GK Quiz – 17 April 2014
|6401||Who won the Gandhi Peace Prize for the year 2013 (announced in March 2014)?|
|A) Baba Amte|
|B) Sunderlal Bahuguna|
|C) Chandi Prasad Bhatt|
|D) Anupam Mishra|
|6402||Which movie won the maximum number of awards in the 86 Annual Academy Award (Oscar) 2014 Awards presented in March 2014?|
|A) 12 Years a slave|
|B) American Hustle|
|C) The Wolf of Wall Street|
|Name of Award||Name of Film(s)||Language|
|Best Feature Film||Ship of Theseus||English-Hindi|
|Best Debut Film of A Director||Fandry||Marathi|
|Best Popular Film Providing Wholesome Entertainment||Bhaag Milkha Bhaag||Hindi|
|Best Children’s Film||Kaphal||Hindi|
1. Anand Gandhi’s debut film Ship of Theseus was named the best feature film at the 61st National Film Awards and Bhaag Milkha Bhaag was named as the best popular film providing wholesome entertainment. Jolly LLB was named the best Hindi film. Hansal Mehta was named the best director for Shahid, again a biopic on slain lawyer-activist Shahid Azmi.
The best actor award was shared by Rajkumar Rao for Hindi movie Shahid and Suraj Venjaramoodu for Malayalam movie Perariyathavar. Saurabh Shukla was named as the best supporting actor for Hindi movie Jolly LLB.
Geetanjali Thapa was named the best actress for Hindi film Liar’s Dice. The best supporting actress award is shared by Amruta Subhas and Aida El-Kashef for Astu (Marathi) and Ship of Theseus (English-Hindi) respectively.
2. Vice Admiral Robin K Dhowan will most likely be the next chief of the Indian Navy as the defence ministry has recommended his name to Prime Minister Manmohan Singh for the post. The post has been lying vacant for nearly two months since DK Joshi resigned suddenly taking responsibility of a series of mishaps in the Navy. Vice Admiral Dhowan, who has been the acting Navy chief since Joshi’s exit, was in contention for the top job along with Western Navy Commander Shekhar Sinha and Eastern Commander Anil Chopra.
3. The Supreme Court said that the suspended Chief of BCCI N. Srinivasan’s name along with 12 cricketers were figured in the inquiry report submitted by the Justice Mukul Mudgal committee in February this year. The apex court said that Srinivasan cannot discharge any function inside BCCI if the enquiry was to be conducted by the BCCI itself on these allegations.
The Apex Court also said that Sundar Raman can continue as the Chief Operating Officer of the Indian Premier League as IPL 7 is starting from today. The interim BCCI president Sunil Gavaskar has recommended that Sundar Raman can continue, the court informed.
1. China’s economy grew at 7.4% in the first quarter of current year 2014 which is the slowest growth rate in last 18 months. This growth rate is slightly lower compare to 7.7% growth rate in the previous quarter (Final quarter of 2013) and marginally lower than 2014 growth target of 7.5%. It was China’s slowest annual growth since the third quarter of 2012, when growth was also 7.4% and this data dashed hopes for quicker recovery of the world’s second largest economy.
2. The Basel Committee on Banking Supervision issued Final standards for measuring and controlling large exposures of banks to customers yesterday. These standards will take effect from 1 January 2019 as per its notification. These guidelines were aimed to minimize the all kind of banking risks through proper risk management processes that a bank can face. It has also issued tougher capital requirements and liquidity rules under Basel III norms so that banks will be able to handle any financial crisis like the recent recession witnessed amid sub prime crisis in the USA.
The developed countries have set their own target to implement Basel III guidelines for the banks operating in the country. USA is planning to implement first phase from 2015 itself.
3. US Inflation, measured by the Consumer Price Index rose 0.2% in March compared to 0.1% in February, as per the data published by the Labor Department. Petrol prices fell 1.7% in March which helped the inflation be much lower below the Federal Reserve’s 2% target. Lower inflation will help the Fed to slowly reduce its aggressive monetary stimulus programs to keep sufficient liquidity in the system to boost economic growth. Its bond-buying programme has been cut by USD 10 billion at the Fed’s last three meetings which now stands at USD 55 billion a month compared to all time high figure of USD 85 billion.
GK Quiz – 16 April 2014
|6391||The Tagore University for Liberal Arts is the first of the proposed ‘innovation univers-ities’. It will come up in which of the following cities?|
|6392||Which of the following organizations releases World Investment Report?|
|C) World Bank|
India’s overall inflation, measured by the Wholesale price index, jumped to a 3-month high of 5.7% in March compared to 4.68% in February due to jump in food prices. Inflation in food articles, which has 14.34% share in the WPI basket, jumped to 9.9% in March from 8.12% in February which pushed the overall inflation higher.
In March, the price rise in potato was 27.83% compared to 8.36% in the previous month while onion price rise dropped to just 1.92% compared to 20.06% in previous month. Inflation in vegetables segment jumped to 8.57% in March compared to 4% in February which is the main reason behind increase in food inflation numbers. Inflation in the fuel and power category jumped to 11.22% in March compared to 8.75% in February. RBI will have very limited scope available now for further rate cut due to increase in both Wholesale as well as Retail inflation numbers for March. Also a possible effect of El Nino this year could worsen the food inflation situation further which will be the biggest challenge for both RBI and new government.
India’s Retail inflation, measured by Consumer Price Index, jumped to 8.31% in March compared to 8.10% (revised 8.03%) in February due to jump in food price rise. Food Inflation jumped to 9.1% in the same month compared to 8.57% in the previous month.
In March, Retail inflation in rural areas jumped to 8.89% compared to revised 8.43% in February and in urban areas eased marginally to 7.51% compared to 7.55% in February. Due to increase in Retail inflation, the Reserve Bank of India may not cut rates in next month after keeping it unchanged only couple of days back.
1. In a landmark judgment, the Supreme Court recognized transgenders as third category of gender today and directed the Centre and States to grant them all facilities including Voters ID, passport and driving licence. The Centre and States were also directed to take steps for bringing the community into the mainstream by providing adequate healthcare, education and employment.
The apex court also expressed concern over transgenders being harasssed and discriminated in the society and passed a slew of directions for their social welfare. It said that Section 377 of IPC is being misused by police and other authorities against them and their social and economic condition is far from satisfactory.
2. The Appointments Committee of the Cabinet (ACC) had approved appointment of Economic Affairs Secretary Arvind Mayaram as Finance Secretary. The post of Finance Secretary was lying vacant since 31st March when Sumit Bose retired. He will continue to look after the Department of Economic Affairs. With his appointment, the Finance Ministry currently has five secretaries including him.
3. India-born poet Vijay Seshadri won the prestigious 2014 Pulitzer Prize in the poetry category for his collection of poems “3 Sections”. The 98th annual Pulitzer Prizes in Journalism, Letters, Drama and Music were announced yesterday by Columbia University.
Seshadri’s ‘3 Sections’ is a “compelling collection of poems that examine human consciousness, from birth to dementia, in a voice that is by turns witty and grave, compassionate and remorseless,” the announcement said. He would receive $10,000 reward.
4. Ogilvy Mumbai won two YoungGun awards in the YGA 2013 Awards. The agency is the only office in India to have won YoungGuns awards. YGA is now in its 12th year of recognizing young talent globally.
The agency’s CleftToSmile logo won the award in the general graphic design category. For their second award, the agency had rolled out a unique campaign for Akanksha, a non-government organisation, which needed teachers, but did not have funds for advertising.
5. The 2013 APRC champion Gaurav Gill won Whangarei Rally by a lead of 11.9 seconds on Sunday. It is his first title in New Zealand and sixth career victory in FIA Asia Pacific Rally Championship (APRC). European champion, Jan Kopecky (Czech Republic) obtained second position.
The Delhi driver has been a regular in the rallying circuit with three INRC titles to his name in 2007, 2009 and 2012. He has been competing in APRC since 2007 and managed to finish at second in 2010.