Daily GK Update 21st July 2017

1. FM Arun Jaitley releases National Trade Facilitation Action Plan

i. Finance Minister Arun Jaitley released the National Trade Facilitation Action Plan. The WTO-Trade Facilitation Agreement (TFA) was a major milestone for the global trading system.

ii. This Action Plan gives a time bound map, not only for implementing TFA, but also for India's initiatives for trade facilitation and ease of doing business which goes beyond TFA. According to a Finance Ministry statement, all actions covered under the plan have been categorised by prioritising the activities into short, mid and long term.

2. ICICI Bank offers up to Rs 15 lakh instant personal loan via ATMs

i. Largest private sector lender ICICI Bank will be selling personal loans of up to Rs 15 lakh through its ATMs that can be availed of by select salaried customers even if they haven't previously applied for one. 

ii. The facility offers a bouquet of features - swift application in simple steps, multiple eligible loan amount options up to Rs. 15 lakh based on pre-checked CIBIL scores and instant transfer of the money to the customer’s account.

Important Takeaways from Above News-

• CEO of ICICI Bank is Chanda Kochhar.
• Headquarter of ICICI is in Mumbai.

3. India's first Eco-bridges for the movement of tigers in Telangana

i. In a first of its kind, Telangana State will have eco-friendly bridges over a canal cutting across the tiger corridor linking the Tadoba-Andhari Tiger Reserve (TATR) in the Chandrapur district of Maharashtra with the forests in Telangana's Kumram Bheem Asifabad district. 

ii. The ‘eco-bridges’ will be constructed at key spots along the 72 km-long, and at some places over a kilometre wide, right flank canal of the Pranahita barrage in the Bejjur and Dahegaon mandals.

Important Takeaways from Above News-

• Kawal Tiger Reserve is located at Jannaram mandal of Mancherial District in Telangana state of India.
• Chief Minister of Telangana is KC Rao.

4. India-Japan agreement on peaceful uses of N-energy comes into force

i. India-Japan agreement for Cooperation in the Peaceful Uses of Nuclear Energy has come into force recently. Foreign Secretary S Jaishankar and Ambassador of Japan to India Mr. Kenji Hiramatsu exchanged diplomatic notes in this regard. The agreement was signed on 11th November 2016 in Tokyo during Prime Minister Narendra Modi’s visit to Japan.

ii. The agreement is a reflection of the strategic partnership between the two sides and will pave the way for enhanced cooperation in energy security and clean energy.

Important Takeaways From Above News-

• The Capital of Japan is Tokyo.
• The Currency of Japan is Japanese yen.
• Shinzo Abe is the PM of Japan.

5. President inaugurates Bicentenary Celebration of Paika Rebellion

i. President Pranab Mukherjee inaugurated the Bicentenary celebration of Paika Rebellion of Odisha organised by the Union Ministry of Culture in New Delhi.

ii. Many scholars, researchers and historians have opined that the Paika Rebellion of 1817 was India’s first organised armed rebellion against British Raj.

Important Takeaways from Above News-

• Present Chief Minister of Odisha is Naveen Patnaik.

6. SEBI inks pact with ESMA for information exchange on CCPs

i. Markets regulator SEBI has entered into a pact with the European Securities and Markets Authority (ESMA) for exchange of information concerning Central Counterparties (CCPs). CCPs are entities that help facilitate clearing and settlement activities. 

ii. The MoU establishes cooperation arrangements, including exchange of information regarding CCPs which are established and authorised or recognised in India by SEBI and which have applied for EU recognition under EMIR.

Important Takeaways from Above News-

• Headquarter of SEBI is in Mumbai.
• Present chairman of SEBI is Ajay Tyagi.

7. Telangana launches 'Janahitha' for speedy redressal of public grievances

i. The Telangana government launched a special portal called “Janahitha” to receive complaints from the public.

ii. The programme was inaugurated in Suryapet district on a pilot basis by Telangana Energy minister G Jagadish Reddy. The portal, which has been developed by Telangana’s IT department, is a single window for all grievances and their redressal management.

8. Indian Army inks MoU with DRDO to raise MRSAM defence system regiment

i. The Indian Army has signed MoU with Defence Research and Development Organisation (DRDO) to raise one regiment of the advanced Medium Range Surface to Air Missiles (MRSAM) defence system.

ii. The MRSAM is an advanced, all weather, mobile, land-based air defence system. It can shoot down enemy ballistic missiles, aircraft, helicopters, drones, surveillance aircraft and AWACS aircraft.  It is capable of engaging multiple aerial targets at ranges of more than 50 km. The system will be jointly developed by Israel Aerospace Industries (IAI) and DRDO with the involvement of DPSUs and private sectors.

Important Takeaways from Above News-

• Chief of Indian Army is General Bipin Rawat.

9. Kamal Haasan to be brand ambassador of Tamil Thalaivas

i. Tamil film actor Kamal Haasan has been appointed brand icon of Pro Kabaddi League franchise Tamil Thalaivas, co-owned by India batting legend Sachin Tendulkar.

Important Takeaways from Above News-

• The winner of the Pro Kabaddi League 2016 was Patna Pirates.

Banking Awareness

Q1. ____________ is a percentage of the premium appropriated towards charges before allocating the units under the policy.
(a) Premium Allocation Charge
(b) Surrender Charges
(c) Policy/Administration Charges
(d) Fund Management Fees
(e) Mortality Charges

S1. Ans.(a)
Sol. Premium Allocation Charge is a percentage of the premium appropriated towards charges before allocating the units under the policy. This charge normally includes initial and renewal expenses apart from commission expenses.

Q2. Which among the following is not a public sector insurance company?
(a) Life Insurance Corporation of India (LIC)
(b) Bajaj Allianz Life Insurance
(c) The new India assurance company limited (NIACL)
(d) Agriculture insurance company of India limited (AICIL)
(e) National insurance company limited (NICL)

S2. Ans.(b)
Sol. Bajaj Allianz General Insurance is a private general insurance company in India.

Q3. The _____________ is usually comprised of organizations that are owned and operated by the government and exist to provide services for its citizens.
(a) citizen sector
(b) limited sector
(c) public sector
(d) private sector
(e) None of the given options is true

S3. Ans.(c)
Sol. The Public Sector is usually comprised of organizations that are owned and operated by the government and exist to provide services for its citizens.

Q4. The party who pays for loss in an insurance arrangement is called?
(a) Premium
(b) Agent
(c) Broker
(d) Insurer
(e) Insured

S4. Ans.(d) Sol. Insurer are pays for loss in an insurance arrangement.

Q5. The premium of _____________ per person per annum is shared equally by the Central Government and the State Government in the Aam Admi Bima Yojana (AABY)?
(a) Rs.1000
(b) Rs.1500
(c) Rs.3000
(d) Rs.500
(e) Rs.200

S5. Ans.(e)
Sol. The premium of Rs.200 per person per annum is shared equally by the Central Government and the State Government in the Aam Admi Bima Yojana (AABY).

Q6. A separate fund called "Aam Admi Bima Yojana Premium Fund" has been set up by Central Govt. to pay the Govt. contribution. Fund is maintained by- 
(a) Life Insurance Corporation of India (LIC)
(b) Reserve Bank of India (RBI)
(c) The new India assurance company limited (NIACL)
(d) Agriculture insurance company of India limited (AICIL)
(e) National insurance company limited (NICL)

S6. Ans.(a)
Sol. A separate fund called "Aam Admi Bima Yojana Premium Fund" has been set up by Central Govt. to pay the Govt. contribution. Fund is maintained by LIC. A free add-on benefit in the form of scholarship to children is also available under the Scheme.

Q7. HDFC Life has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers. Catholic Syrian Bank based in-?
(a) Mumbai
(b) Thrissur
(c) Jaipur
(d) Varanasi
(e) Bengaluru

S7. Ans.(b)
Sol. HDFC Life has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers. Catholic Syrian Bank based in Thrissur, Kerala.

Q8. The written insurance contract that may include all clauses, riders and endorsements. It is called?
(a) Liabilities
(b) Premium
(c) Installment
(d) Policy
(e) Assets

S8. Ans.(d)
Sol. Policy is the written insurance contract that may include all clauses, riders and endorsements.

Q9. UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with element of subsidy from the Government. UHIS stands for-
(a) Universal Health Insurance System
(b) Universal Health Insurance Service
(c) Universal Health Insurance Scheme
(d) Universal Health Insurance Solutions
(e) Universal Health Insurance Scenario

S9. Ans.(c)
Sol. The Universal Health Insurance Scheme (UHIS) has launched by the Government of India is already in existence for persons and families below the poverty line with element of subsidy from the Government. In addition, the Rashtriya Swasthya Bima Yojana (RSBY) was also rolled out from by the Government to provide the health insurance coverage for Below Poverty Line (BPL) families. 

Q10. Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?
(a) 20th December 1999
(b) 20th December 2007
(c) 20th December 1992
(d) 20th December 2004
(e) 20th December 2002

S10. Ans.(e)
Sol. Agriculture Insurance Company Of India Limited (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under the Companies Act, 1956 on 20th December 2002.

Reasoning Quiz

Reasoning Quiz

Directions (1-5): Study the following information carefully and answer the questions given below.

L, M, N, O, P and Q are six members of a Committee. They are sitting around a circular table.

(i)     O sits to the second left of red chair, which is not near to L and yellow chair.

(ii)   Q neither sits on pink chair nor opposite to L.

(iii)  M is not near to black and red chair but opposite to pink chairs.

(iv)  N sits second left of white chair but not near to Q.

1.         Who is sitting opposite to N?

(1) Q     

(2) L                     

(3) P

(4) M    

(5) None of these

2.         What is the colour of P’s chair?

(1) Red

(2) Pink                               

(3) Yellow

(4) White            

(5) None of these

3.         Who is sitting second to the left of white chair?

(1) Q     

(2) P                     

(3) O

(4) N     

(5) None of these

4.         What is the position of ‘O’ with respect to the yellow chair?

(1) immediate right                       

(2) second right                               

(3) immediate left

(4) Can’t be determined                               

(5) None of these

5.         Who is sitting opposite to the red chair?

(1) M                    

(2) L                    

(3) O                     

(4) Q                     

(5) None of these

Directions (6-10): In each of the questions below are given four statements followed by four conclusions numbered I, II, III and IV. 

You have to take the given statements to be true even if they seem to be at variance from commonly known facts. Read all the conclusions and then decide which of the given conclusions -

logically follows from the given statements disregarding commonly known facts.

6.         Statements: Some trains are cars.

All cars are branches.

All branches are nets.

Some nets are dresses.

Conclusions:

I.          Some dresses are cars.

II.        Some nets are trains.

III.      Some branches are trains.

IV.      Some dresses are trains.

(1)    Only I and III follow

(2)    Only II and III follow

(3)    Only I and IV follow

(4)    Only II, III and IV follow

(5)    None of these

7.         Statements: Some pencils are kites.

Some kites are desks.

All desks are jungles.

All jungles are mountains.

Conclusions:

I.          Some mountains are pencils.

II.        Some jungles are pencils.

III.     Some mountains are desks.

IV.      Some jungles are kites.

(1)    Only I and III follow

(2)    Only I, II and III follow

(3)    Only III and IV follow

(4)    Only II, III and IV follow

(5)    None of these

8.         Statements: All papers are clips.

Some clips are boards.

Some boards are lanes.

All lanes are roads.

Conclusions:

I.          Some roads are boards.

II.        Some lanes are clips.

III.      Some boards are papers.

IV.      Some roads are clips.

(1)    Only I and II follow

(2)    Only I and III follow

(3)    Only I, II and III follow

(4)    Only II, III and IV follow

(5)    None of these

9.         Statements:

All pens are clocks.

Some clocks are tyres.

Some tyres are wheels.

Some wheels are buses.

Conclusions:

I.          Some buses are tyres.

II.        Some wheels are clocks.

III.     Some wheel are pens.

IV.      Some buses are clocks.

(1)    None follows

(2)    Only I follows

(3)    Only II follows

(4)    Only III follows

(5)    Only IV follows

10.     Statements:

All stones are hammers.

No hammer is ring.

Some rings are doors.

All doors are windows.

Conclusions:

I.          Some windows are stones.

II.        Some windows are rings.

III.     No window is stone

IV.      Some rings are stones.

(1)    Only I follows

(2)    Only II follows

(3)    Only III follows

(4)    Only either I or III follows

(5)    Only either I or III and II follow

Solutions (1-5):

1. (4)
2. (1)
3. (4)
4. (4)
5. (2)
Solutions (6-10):
6. (2):

7. (3):

8. (5):

9. (1):

10. (5):

Reasoning Quiz

Reasoning Quiz

Directions (1-6): Study the information given below and answer the given questions.

Six friends A, B, C, D, E and F have three types of vehicles - Alto, Fiat and Nano - and they like three colours - Black, White and Red. 

Each of them has a car. Only two of them have the same type of cars and only two of them like the same colour.

A and F do not like Alto and Red colour. C and D do not like Fiat and White colour. A and B do not like Fiat. 

B does not like Nano and Red colour, and C does not like Alto and Red colour. The one who has Fiat, does not like Black colour. E and B do not like White colour.


1. Which two friends have Red cars?
(1) A and B
(2) B and C
(3) D and E
(4) D and F
(5) C and E

2. Which two friends have Fiats?
(1) E and F
(2) D and F
(3) B and E
(4) A and C
(5) E and C

3. Who has a Black Nano?
(1) A
(2) B
(3) C
(4) D
(5) E

4. Which of the following combinations is not true?
(1) B - Black –Alto
(2) E - Red – Nano
(3) D - Red - Alto
(4) C - Black – Nano
(5) None of these

5. Which of the following cars does A own?
(1) Black Alto
(2) Red Fiat
(3) White Alto
(4) White Nano 
(5) Black Nano

6. Which of the following statements is true?
(1) C likes White Nano
(2) E likes Black Fiat
(3) B likes Red Alto
(4) F likes White Fiat
(5) None of these

Directions (7-11): In each question below are given three statements followed by three conclusions numbered I, II and III. 

You have to take the given statements to be true even if they seem to be at variance with commonly known facts and then -

decide which of the given conclusions logically follows from the given statements, disregarding commonly known facts.

7. Statements:
Some flowers are fruits.
All fruits are trees.
No tree is a plant.

Conclusions: 
I. At least some plants are fruits.
II. All trees being flowers is a possibility.
III. At least some trees are fruits.

(1) Only I follows
(2) Only land II follow
(3) Only II and III follow
(4) Only I and III follow
(5) None of these

8. Statements: 
Some keys are locks.
All locks are doors.
Some doors are windows.

Conclusions: 
I. At least some locks are windows.
II. Some windows are doors.
III. Some keys are doors.

(1) None follows
(2) Only II and III follow
(3) Only II follows
(4) Only III follows
(5)All follow

9. Statements: 
All tablas are sitars.
All sitars are harmoniums.
All harmoniums are violins.

Conclusions: 
I. All sitars are violins.
II. All tablas are harmoniums.
III. Some violins are sitars.

(1) All follow
(2) Only II and III follow
(3) Only I and II follow
(4) Only III follows
(5) None follows

10. Statements: 
All bananas are apples.
Some apples are oranges.
All oranges are grapes.

Conclusions: 
I. All grapes are apples.
II. All apples are bananas.
III. All oranges being bananas is a possibility.

(1) Only I follows
(2) Only II follows
(3) Only III follows
(4) All follow
(5) None follows

11. Statements: 
Some teachers are doctors.
Some doctors are professors.
All professors are writers.

Conclusions: 
I. All teachers being writers is a possibility.
II. All professors being doctors is a possibility.
III. Some writers are doctors.

(1) All follow
(2) Only I and II follow
(3) Only I and III follow
(4) Only II and III follow
(5) None of these

Reasoning Quiz

Reasoning Quiz

Directions(1-2): Study the following information and answer the given questions.

G is the mother of R. R is the mother of S. S is the daughter of T. T is the brother of J. J is the mother of L. L is the daughter of Q. Q is the Son of D.

1.) How is T related to G?

1) Son

2) Daughter

3) Son-in-law

4) Sister

5) Daughter-in-law

2.) How is S related to J?

1) Son

2) Niece

3) Daughter

4) Nephew

5) Cannot be determined

Directions(3-7): Study the information carefully and answer the questions. 

L, M, N, O, P, Q, R and S are sitting around a circular area at equal distances between each other, but not necessarily in the same order. 

Some of the people are facing the centre while some face outside (i.e., in a direction opposite to the centre).S sits fourth to left of P. O sits second to right of S. S faces outside.

 L sits third to right of R. R is not an immediate neighbour of O. L is not an immediate neighbour of P. Both the immediate neighbours of Q face the centre. 

Both the immediate neighbours of M face opposite directions (i.e., if one person faces the centre then the other faces outside and vice- versa). 

Both the immediate neighbours of S face same direction as 0 

(i.e., if 0 faces the centre then both the immediate neighbours of S also faces the centre and vice-versa) immediate neighbours of P face a direction opposite to that of P 

(i.e., if P faces the centre then both his immediate neighbours face outside and vice-versa).

3.) What is R's position with respect to O?

1) Third to the right

2) Fifth to the left

3) Second to the left

4) Third to the left

5) Fourth to the right

4.) Four of the following are a like in a certain way based on the given seating arrangement and so form a group. Which is the one that does not belong to that group?

1) N

2) O

3) M

4) P

5) L

5.) Which of the following is true regarding N as per the given seating arrangement?

1) N sits to immediate right of M

2) N faces outside

3) Only two people sit between N and Q

4) L sits second to right of N

5) S is one of the immediate neighbours of N

6.) Who is sitting to immediate left of P?

1) R

2) M

3) O

4) S

5) Q

7.) How many people in the given arrangement face outside?

1) One

2) Three

3) Five

4) Four

5) Two

Directions(8-10): Study the following information and answer the question.

Six people P, Q, R, S, T and U obtained different marks in an exam. P obtained more marks than only two people. 

Q obtained more marks than S but not the highest. U obtained more marks than only R. The one with second highest marks obtained 480 marks.

 The one with second lowest marks obtained 350 marks.

8) Which of the following is true with respect to T as per the given information?

1) T obtained less marks than only two people

2) T possibly obtained 500 marks

3) T obtained more marks than S but less than Q

4) All the given statements are true

5) T definitely obtained 480 marks

9) Who amongst the following obtained third highest marks?

1) S

2) R

3) T

4) U

5) P

10.) Who amongst the following possibly obtained 400 marks?

1) P

2) Either S or P

3) S

4) T

5) Either R or T

Directions(11-15): Study the following information to answer the given question.

Ten people are sitting in two parallel rows containing five people each, in such a way that there is an equal distance between adjacent persons. 

In Row-1 R, S, T, U and V are seated (but not necessarily in the same order) and all of them are facing north. 

In Row-2 F, G, H, I and J are seated (but not necessarily in the same order) and all of them are facing south. 

Therefore, in the given seating arrangement each member seated in a row faces another member of the other row. 

T sits third to right of the person who faces F. Only two peoples sit between F and I. The person who faces U sits to immediate left of H. 

Only one person sits between Hand J. The one who faces G sits second to right of R. H does not face V.

11.) Which of the following groups of people represents the people sitting at extreme ends of both the rows?

1) F, J, D, R

2) I, F, V, S

3) J, I, V, T

4) H, G, T, R

5) F, G, T, U

12.) Who sits to immediate right of the person who faces R?

1) I

2) H

3) J

4) F

5) G

13.) Which of the following is true regarding G?

1) J sits second to right of G

2) V is an immediate neighbour of the person who faces G

3) Both H and I are immediate neighbours of G

4) Only two people sit between G and I

5) None of the given options is true

14.) Which of the following is true with respect to the given information?

1) J faces one of the immediate neighbours of S

2) J is an immediate neighbour of I

3) None of the given options is true

4) U sits exactly between Sand T

5) F faces U

15.) Who amongst the following faces S?

1) G

2) H

3) J

4) I

5) F

Answers:
01. 3
02. 2
03. 5
04. 3
05. 5
06. 2
07. 4
08. 2
09. 1
10. 2
11. 3
12. 3
13. 3
14. 4
15. 2