29 FEB 2016

Vinod Rai appointed as first Chairman of Banks Board Bureau 



Former Comptroller and Auditor General (CAG) Vinod Rai has been appointed as the first Chairman of Banks Board Bureau (BBB). His appointment comes after Prime Minister has approved the proposal of the Department of Financial Services for the constitution of the BBB.






India, UK institutions ink agreement for collaboration in Crop Sciences 


Department of Biotechnology in the Union Ministry of Science and Technology has signed a MoU with a consortium of top United Kingdom (UK) research institutions for joint India-UK collaboration programme in crop science. The consortium UK research institutions included representatives from Cambridge based National Institute for Agricultural Botany (NIAB), John Innes Centre, Norwich based University of East Anglia and Rothamsted Research Institute.




India to host 3rd Asia Ministerial Conference on Tiger Conservation 

 India is going to host Asia Ministerial Conference on Tiger Conservation from 12 April 2016 to save tigers. It will be inaugurated by Prime Minister Narendra Modi. It will the third such conference on tiger conservation to be hosted by India that will see the participation of all 13 tiger range countries (TRCs). They are Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Russia, Thailand, and Vietnam.




Rare Falcated Duck sighted in Goa 


 Birdwatchers for first time have sighted Falcated Duck in Goa which is considered as rare vagrant migrant bird species to the south of India. Earlier the bird was sighted two times in southern parts of India away from its natural migratory habitat in North India. For first time it was sighted in Tamil Nadu in 2012 and second time in Akola (Maharashtra) in January 2015.

27,28 FEB 2016

28 February: National Science Day 


In India February 28 is celebrated as the National Science Day i.e. Rashtriya Vigyan Diwas (राष्ट्रीय विज्ञान दिवस) every year. Significance of Day: It aims to impart scientific temper in the minds of people of all age groups. The theme for year 2016 is “Scientific Issues for Development of the Nation” that aims at raising public appreciation. This day is celebrated as science festival in the entire nation by organising science exhibitions, seminars, workshops, symposiums and many other activities.

India’s Oldest Cricketer BK Garudachar passes away 

 Legendary pre-independence cricketer and skipper Bindiganavile Krishnaswamy Garudachar passed away in Bengaluru, Karnataka. He was 99. At the time of his death, he was the oldest living Indian first-class cricketer who had represented Mysore, United province and Bombay first class cricket matches






President Pranab Mukherjee declares Kerala as first digital state 


President Pranab Mukherjee has formally declared Kerala as the country’s first digital state. It was announced by President after launching a digital empowerment campaign of state at a function to be held in Kozhikkode. The campaign aims at bridging the digital divide by 2020. This declaration was made considering the rapid digital strides of the state which has achieved 100 percent mobile connectivity, 75 percent e-literacy, maximum digital banking, broadband connectivity upto the Panchayat level, linking bank accounts with Aadhar cards and e-district plan in all districts.

Mumbai wins Ranji Trophy 2016 

 Mumbai has won the Ranji Trophy for a season 2015-16 by defeating Saurashtra. With this victory, Mumbai clinched Ranji title for record 41st time (10 of them being won with innings wins) after playing in record 45 finals. In the final match played a Gahunje Stadium of Maharashtra Cricket Association in Pune, Mumbai defeated Saurashtra by 21 runs.







Ex-DRDO DG Dr Avinash Chander awarded Aryabhata Award 


Former DRDO Director-General (DG) Dr Avinash Chander has been awarded prestigious Aryabhata Award of Astronautical Society of India. He was bestowed with this award in recognition for his contribution to missile technology. He was presented with this award from Dr R Chidambaram, Principal Scientific Adviser to Union Government, and Dr A S Kiran Kumar, Chairman ISRO.

RAIL BUDGET 2016 KEY FACTS

RAIL BUDGET 2016 HIGHLIGHTS

* Expect saving of Rs 8,720 this year

* Operating ratio at 92% FY17 as against 90% in current year

* Traffic revenue target at Rs Rs 1.85 lakh crore

* Capital plan of Rs 1.21 lakh crore

* Expect revenue growth of over 10% this year

* Rs 8,720 crore saving in fuel cost like power

* Commission 2,800km of new tracks in next year, almost 30% higher than last year

* Rs 8.5 lakh crore to be spent over 5 years for modernization of railway infrastructure

* Generate Rs 9 crore mandays in FY17-18, Rs 14 crore mandays in FY18-19

* Railway electrification increased by 50%; 2,000km route to be electrified next fiscal

* Completely paperless contract system in 2016-17

* WiFi in 100 stations this year and 400 other stations next year

* Railways to get Rs 40,000 crore budgetary support from the government

* Rs 30,000 crore is the loss on subsidizing passenger fares

* 20% less accidents this year

* To have CCTV surveillance at all stations, 300 major stations covered this year

* Enhanced capacity of e-ticketing system - from 2000 tickets a minute to 7200 a minute (to support 120,000 concurrent users)

* 44 new projects valued at Rs 92,714 crore to be implemented this year

* 2 locomotive factories at the cost of Rs 40,000 crore to be set up

* 17 states agree to form JVs with Indian Railways for construction of rail-over-bridges

* 124 MPs have committed to contribute from MPLADS for passenger amenities

* 400 stations to be re-developed through PPP

* Overnight double-decker train Uday Express to be introduced on busiest routes, carrying capacity to be increased 40% more

* Lower berth quota for senior citizens to be increased by 50%

* Will introduce sub-quota of 33% for women in each of the reserved categories in catering

* Three direct services, fully air-conditioned Humsafer, to travel at 130km per hour

* To introduce 20,000 screen rail display network for passing info to passengers and huge advertising potential

* Aim to generate 10-20% of revenues from non-tariff sources over next 5 years by monetising assets

* Models to determine revenue potential of at least 20 stations in next 3 months

* 17,000 additional bio-toilets to be provided by the end of current fiscal

* 2,800km of broad gauge track conversion envisaged

* 7km of broad gauge lines to be commissioned every day during 2016-17

* Hope to commission 19km of new broad gauge track every day by 2018-19

* Direct procurement of diesel to help save Rs 1,500 crore in 2016-17

* Rs 50 crore to be provided for startups by railway employees

* LIC to fund Rs 1.5 lakh crore over five years on favourable terms

25,26 FEB 2016

E-Tourist Visa Scheme extended to 37 more countries 


The Union Government has extended e-Tourist Visa Scheme to 37 more countries. With this, the total count of countries under the scheme will become 150. The new countries included in e-Tourist Visa scheme are Austria, Albania, Botswana, Brunei, Bulgaria, Bosnia & Herzegovina, Comoros, Cote d’lvoire, Cape Verde,  Czech Republic, Croatia, Eritrea, Denmark, Gabon, Greece, Guinea, Gambia, Ghana,  Madagascar, Malawi, Iceland, Lesotho, Liberia, San Marino, Moldova, Namibia, Romania, South Africa, Swaziland, Switzerland, Senegal, Serbia, Slovakia, Trinidad & Tobago, Tajikistan, Zambia and Zimbabwe.

Lok Sabha passes Election Laws (Amendment) Bill, 2016 

 Lok Sabha has passed Election Laws (Amendment) Bill, 2016 to grant voting rights to people who became citizens of India following the exchange of enclaves between India and Bangladesh. The bill seeks to amend the Representation of the People Act (RPA), 1950 and the Delimitation Act, 2002. These Acts regulate allocation of seats to the Lok Sabha and state legislatures and delimitation (fixing boundaries) of parliamentary and state assembly constituencies.

Rajendra Singh appointed as DG of Coast Guard 

 

The Union Government has appointed Rajendra Singh as the Director General (DG) of Indian Coast Guard (ICG), country’s coastal protection force. With this appointment, Rajendra Singh becomes first DG of ICG from its own internal cadre since it was set up in 1978. So far this top post was only held by officers who were commissioned in the Indian Navy. He will replace Vice Admiral HCS Bisht who has been promoted as the Flag Officer Commanding-in-Chief of the Eastern Naval Command.

Union Government appoints 3 Information commissioners of CIC 

The Union Government has appointed three Information Commissioners at the Central Information Commission (CIC). They were administered the oath of office by Chief Information Commissioner Radha Krishna Mathur. With their induction, for the first time CIC has full strength i.e. the total number of Information Commissioners including the CIC has gone up to 11. Their appointments have been made for a term of five years or till they turn 65. Appointees are 
Amitava Bhattacharya: He is retired IAS officer who had served Chairman of the Staff Selection Commission (SSC)
 Bimal Julka: He is retired IAS officer who had served as Information & Broadcasting Secretary.
 Divya Prakash Sinha: He is retired IPS officer and counter-terror veteran who had served as Secretary (security) at the Cabinet Secretariat.

Goverdhan Mehta awarded Germany’s Cross of the Order of Merit 



Chemical scientist and well-known researcher Goverdhan Mehta has been conferred with Germany’s prestigious Cross of the Order of Merit (Bundesverdienstkreuz) Award. The award was bestowed upon him by Achim Fabig, German Consul General in Chennai, Tamil Nadu.







Yes Bank wins inaugural Green Bond Award in UK 


India’s leading private lender Yes Bank has been awarded inaugural Green Bond Pioneer Award at a ceremony held in London, United Kingdom. Yes Bank was bestowed with this award in recognition for its pioneering efforts in the Green Bonds market including successful issuance of India’s first ever Green Infrastructure Bonds.






GVK Bio awarded Global CSR Excellence & Leadership Award 




Hyderabad-based GVK Biosciences (GVK BIO) has been awarded prestigious Global CSR Excellence & Leadership Award. The company was bestowed with this award in the category of Best Environment Friendly Project for its ambitious Go Green, Grow Green plantation drive under its Corporate Social Responsibility (CSR) initiative.

24 FEB 2016

Ex-CJI HL Dattu selected as new Chairman of NHRC

Union Government has selected former Chief Justice of India (CJI) H L Dattu as new Chairman of National Human Rights Commission (NHRC). He will succeed Mr. K.G. Balakrishnan who had demitted office after his five-year term ended in May 2015. Since then Justice C Joseph is functioning as the acting Chairman.

Naval Exercise IBSAMAR 2016 between India, South Africa, Brazil kicked off in Goa 

The fifth edition of IBSAMAR 2016 trilateral naval exercise between Brazil, India and South Africa kicked off in Goa. IBSAMAR is abbreviated as India-Brazil-South Africa Maritime. This is the for the first time the exercise is held in India as all the previous editions were held in South Africa since it began in 2006.

India’s first nuclear submarine INS Arihant passes deep sea tests 

India’s first indigenously built nuclear armed submarine INS Arihant has successfully passed several deep sea diving drills as well as weapons launch tests. These successful tests undertaken off Vishakhapatnam coast where the submarine was build. These tests makes it ready for formal induction into the Naval Fleet

Economics Questions for Railway Exam 2016

GK Quiz from Economics Questions for Railway Exam 2016. Candidates those who are all preparing for these exams can use this material.

1). Meera seth committee was related to

a)   development of handlooms

b)   sex-differentiation in employment

c)   abolition of child labour

d)   welfare of working women

e)   None of these

2). Finance commission is appointed by the president under article

a)   256 of constitution

b)   280 of constitution

c)   293 of constitution

d)   356 of constitution

e)   None of these

3). National income estimates in India is prepared by

a)   planning commission

b)   RBI

c)   finance ministry

d)   C.S.O

e)   None of these

4). According to 2001 census the state having highest urban population is

a)   U.P

b)   Maharashtra

c)   Tamilnadu

d)   Kerala

e)   None of these

5). The Ex-office secretary of NDC is

a)   secretary of finance ministry

b)   general secretary of lok sabha

c)   secretary of planning commission

d)   vice-chairman of planning commission

e)   None of these

6). Who is the chairman of NDC?

a)   finance minister

b)   prime minister

c)   planning minister

d)   lok sabha speaker

e)   None of these

7). VAT is imposed

a)   directly on consumer

b)   on final  stage of production

c)   on first stage of production

d)   on all stages between production and final sale

e)   None of these

8). The base year of the present wholesale price index (WPI) is

a)   1993-94

b)   1971-72

c)   1980-81

d)   1981-82

e)   None of these

9). Chairman of tax perform committee was

a)   pranab mukherjee

b)   k.p narsimham

c)   s. janakiraman

d)   raja chelliah

e)   None of these

10). Mixed economy means

a)   co-existence of small and large industries

b)   promoting both agriculture and industries in the economy

c)   co-existence of public and private sectors

d)   co-existence of rich and poor

e)   None of these

Answer:

1) a)  2) b)  3) d)  4) b)  5) c)  6) b)  7) d)  8) a)  9) d)  10) c)

1.         The simple interest obtained on an amount of Rs. 45000 at the end of 4 years is Rs. 15300. What would be the compound interest approximate be obtained on the same amount at the same rate of interest in the same period ?

(1) Rs. 8244    (2)  Rs. 19500        (3)   Rs. 16285       (4)  Rs. 18566  

(5) Rs. 17364

2.         What would be the compound interest obtained on an amount of Rs. 20000 at the rate of 15 %  p.a. after 4 years ?

(1) Rs. 14,980.125         (2) Rs. 19680.125        (3) Rs. 16,780.125     

(4) Rs. 18,980.125         (5) None of these

3.         Manisha invested an amount of Rs. 39300 for 4 years at the rate of 4 % p.a. What amount of approximate compound interest will she obtain at the end of 4 years ?    

(1) Rs. 6675      (2) Rs. 6650      (3) Rs. 6288     (4) Rs. 6356

(5) Rs. 6450

4.         The Simple interest accured in 9 years on a principle of Rs. 24250 is 162 % of principle. What is the rate of interest per annum ?

(1) 22             (2) 16               (3) 18             (4) Cannot be determined

(5) None of these

5.         What would be the simple interest accured in 4 year on a principle of Rs. 16500 at the rate of 16 % per annum ?

(1) Rs. 11560    (2) Rs. 10250     (3) Rs. 12500        (4) Rs. 9980   

(5) None of these

6.         What would be the simple interest obtained on an amount of Rs. 6350 at the rate of 8 % p.a. after 6 years ?

(1)  Rs. 3429      (2) Rs. 3048      (3) Rs. 3810          (4) Rs. 2667

(5) None of these

7.         At the equal rate of interest what is the difference between simple & compound interest of a sum  ?

            1) Rs. 3.75       2) Rs. 4         3) Rs. 6.25               4) Data insufficient

            5) None of these

8.         What would be the compound interest obtained on a amount of Rs. 7800 at the rate of 5 % after 3 yr ?

            1)  Rs. 1235.685         2)  Rs. 1229.475         3)  Rs. 1287.68           

 4)  Rs. 1248.750         5) None of these

9.         What would be the simple interest obtained on an amount of Rs. 8930 at the rate of 8 % p.a. after 5 yr ?

            1) Rs. 5413             2) Rs. 2678                 3) Rs. 3572  

            4) Rs. 4752             5) None of these

10.       What would be the simple interest obtained on an amount of Rs. 8955 at the rate of 10 % p.a. after 7 yr ? 

            (1) Rs. 6268.5         (2) Rs. 6628          (3) Rs. 6862          (4) Rs. 6682.5       

            (5) None of these

11.       What would be the compound interest obtained on an amount of Rs. 12500 at the rate of 6 % p.a. after 4 years ?

            (1) Rs. 3180.962      (2) Rs. 3281.962      (3) Rs. 3380.962        

(4) Rs. 3480.962       (5) None of these

12.       Difference between the compound interest & simple interest accured in two years at 8 % per annum is Rs. 128. What is the principle amount ?

            (1) Rs. 18000                      (2)  Rs. 16000            (3)  Rs. 20000

            (4) Cannot be determined      (5) None  of these

13.       Rupa invested a sum of Rs. 4230 at a rate of 6 % p.a. in a bank. What simple interest will she get at the end of 6 years ?

            (1) Rs. 1522.80     (2) Rs. 1502.80     (3) Rs. 1582.20   (4) Rs. 1722.70

            (5) None of these

14.       Vinita invested a certain amount at the rate of 8 % p.a. for 5 yr. and obtained a simple interest of Rs. 3800. Had she invested the same amount at the same rate of interest for 2 years, how much amount would she have obtained as compound interest at the end of 2 years ? 

            (1) Rs. 1580.80           (2) Rs. 1520        (3) Rs. 1550.50       (4) Rs. 1550         

            (5) None of these

15.       The compound interest accured on an amount at the end of two years @ 16 % p.a. is 3041.28. What is the amount ?

            (1) Rs. 10500        (2) Rs. 9000      (3) Rs. 7250       (4) Rs. 8800

           (5) None of these

16.       Find compound interest on Rs. 5000 at 12 % p.a. for 1 year compounded half yearly.

            (1) Rs. 615           (2) Rs. 618         (3) Rs. 620         (4) Cannot be determined

 (5) None of these

17.      The difference between the simple interest & the compound interest on Rs. 5000 at 10 % p.a. for 3 yrs is

          (1) Rs. 145           (2) Rs. 150        (3) Rs. 165            (4) Rs. 180

          (5) None of these

       

18.       A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs.            1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would                have gained by way of interest is:            (1)Rs.121            (2) Rs. 122          (3) Rs. 123          (4) Rs. 124

19.    An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

          1) 13%       2) 10.25%      3)15%      4)11%     5)None of these

20.     A sum of Rs. 12,000 deposited at compound interest becomes double after 5 years. After 20                 years, it will become:

         1. Rs. 1,10,000           2. Rs. 1,30,000              3. Rs. 1,24,000
         4. Rs. 1,92,000           5. Rs. 1,50,000

ANS KEY

Question No.	Answer
1	5
2	1
3	1
4	3
5	5
6	2
7	4
8	2
9	3
10	1
11	2
12	3
13	1
14	1
15	4
16	2
17	5
18	1
19	2
20	4