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on 27 November 2014 to keep daily oil proposed to be laid over next three and
output at 30 million barrels. The step a half years to ensure digital
was taken despite a major oversupply empowerment of people. ‗Digital India‘
that has caused oil prices to fall more project envisages bringing all the
than 30%. This also meant that the cost existing initiatives such as the Ebiz
of January futures fell by 4.47%, to project, E-kranti, virtual classroom, e-
$66.07 per barrel. visas and the National Optical Fibre
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December 2, 2014
December 2014 at which city? – Lima
(Peru)
Explanation: COP20 the 20th yearly
3 CURRENT AFFAIRS
December 4, 2014
children in government schools are
being provided free mid-day meals
and the efficacy of the Public
Distribution Scheme (PDS) which is
meant to provide poor families access
to subsidized grain. The two judges
who will handle these cases every
Friday are Justice Madan B Lokur and
Justice UU Lalit.
December 5, 2014
1) Eminent jurist and former Supreme
Court judge Justice Krishna Iyer
passed away on 4 December 2014 at
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India‘s rural households use kerosene has approved to amend Indian Medical
as cooking fuel, according to the Council Regulations, 2002, providing
Census. therein that every physician should
prescribe drugs with generic names in
legible and capital latter and he/she
shall ensure that there is a rational
4) The Indian Air Force (IAF) on 5
prescription and use of drugs. This
December 2014 sent supplies of
amendment has been done as it was
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not as powerful and on the same scale Trophy is being played at Kalinga
16 CURRENT AFFAIRS
ATM usage charges for its saving department banned all activities
account holders from 1 January 2015? related to providing of any transport
– ICICI Bank service by www.uber.com with
immediate effect. The department also
Explanation: ICICI Bank announced blacklisted the company from
that from 1 January 2015 the number providing any transport service in the
of free transactions in a month has NCT of Delhi in future. It was alleged
been fixed at five using own ATMs,
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irked drivers at traditional taxi firms CCI approval was a step ahead, the
across the globe. Consumers are companies said these products
increasingly using the smartphone constitute less than 1% of the
software to find people willing to drive combined entity‘s revenues in India.
them, rather than booking a cab by The CCI had received a notice from
phone. Sun Pharmaceuticals and Ranbaxy
Laboratories for the proposed merger
5) Jet Airways joined hands with which
of Ranbaxy with Sun Pharma on 6
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the payment system providers and to testing (2007-2014) and during this
index accurately predicted economic December 2014 that features more
direction 72% of the time. SBI than 400 online retailers and
Composite Index will take into account companies offering deals and
the credit demand and other indicators discounts to fast-growing online
of economic activity like consumer shopping fraternity in India. Who is
spending, mining activity, interest organising GOSF? – Google
rates, inflation, exchange rate and
Explanation: GOSF is in its third
other thematic indices and service and
edition and was initially launched in
manufacturing activities.
2012 by Google to boost the adoption
of online shopping in India. GOSF
2014 features numerous exclusive
3) World‘s longest train journey was
launches including Google‘s Nexus 6
completed on 9 December 2014 when
smartphone. Google India has
a train covering record 13,052 km long
partnered Aditya Birla Money My
journey reached Spanish capital
Universe as a preferred partner for this
Madrid. This train had started its
year‘s event. Last year, GOSF saw
journey from which country? – China
tremendous response from consumers
Explanation: The train named in India and the company claimed it
‗Yixinou‘ had started its journey from attracted 2 million visitors. The
Chinese city of Yiwu. The train company had also claimed that its
comprised of 40 wagons, carrying GOSF 2013 partners (over 200 e-
1,400 tons of cargo, consisting of commerce websites) saw daily sales
stationary, craft products and products jumping 3 to 4 times.
for the Christmas market and it will
return to China filled with luxury
Spanish produce such as cured ham, 5) Who was confirmed as the next US
olive oil and wine. The marathon Ambassador to India by the US
journey crossed China, Kazakhstan, Senate on 9 December 2014 and
Russia, Belarus, Poland, Germany would thus become the first Indian-
and France, before arriving in Spain. American to hold this post? – Richard
The results of this first historic journey Rahul Verma
which will then be evaluated with the
Explanation: Richard Rahul Verma
aim of opening a regular two-way rail
has served as assistant secretary of
link between China and Spain, which
state for legislative affairs at the State
could commence operations in early
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issue of Goods and Services Tax the new tax regime which is proposed
to be introduced from April 2016. Khurasani claimed responsibility for
Compromise was reached after an the attack in a phone call to media,
over hour-long meeting between saying that six suicide bombers had
Finance Minister Arun Jaitley and carried out the attack in revenge for
finance ministers of seven states – the killings of Taliban members at the
Punjab, Haryana, Gujarat, Tamil Nadu, hands of Pakistani authorities. 3 day of
Maharashtra, Karnataka, and Jammu national mourning was declared by
and Kashmir. Concerns of other states Pakistani Prime Minister Nawaz Sharif
have already been addressed. It was later. Whole international community
agreed that petroleum goods would be condemned this attack.
kept out of the Goods and Services
Tax (GST) Bill for initial few years and
a decision to include in the new tax 3) The 14th Finance Commission
regime would be taken later. States, submitted its report to the President on
which earn over 50% of their revenue 15 December 2014. The commission
from taxes on petrol and other petro headed by former RBI Governor
products, wanted it to be out of GST Y.V.Reddy has been constituted for
so they could continue with levying which period for which it submitted its
different tax rates on these products. report? – 1 April 2015 to 31 March
2020
Explanation: The 14th Finance
2) Which terrorist organisation of
Commission was constituted by the
Pakistan carried out a horrendous
President on 2 January 2013 and was
attack on a school in Peshawar on 16
to give its report by October 31 this
December 2014 killing more than 130
year. But its tenure was extended till
people including a very large number
31 December. In this report the
of school children? – Tehrik-i-Taliban
commission gave its views on the
Pakistan (TTP)
devolution of tax receipts from the
Explanation: The gunmen of Tehrik-i- Centre to the states between 1 April
Taliban Pakistan (which is also known 2015 and 31 March 2020. The
as Taliban Pakistan), carried out one Commission had sought two more
of the most ghastly attacks in recent months to examine financial
times by storming the Army Public projections and carry out consultations
School in the northwestern Pakistani with the Andhra Pradesh and
city of Peshawar on 16 December. Telangana governments. It was also
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The attack began in the morning asked to look into the issue of Goods
hours, with the gunmen entering the and Services Tax (GST). The
school, a military-run facility with commission‘s terms of reference also
students in grades 1-10 and shooting included the pricing of public utilities
randomly. Pak Army commandos such as electricity and water in an
quickly arrived at the scene and independent manner and the sale of
exchanged fire with the gunmen. Later non-priority public-sector units.
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2013, Fernandez took to Twitter to call is not among the 34 member countries
for the release of a formerly abused of OECD.
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December 19, 2014
masters this rocket, there may not be
any need for India to send its heavy-
duty communications satellites to
space using expensive foreign
launchers. It can also hope to make a
dent in the multimillion-dollar
commercial launch market of the
world. The mission cost Rs. 155 crore
and its main purpose was to test the
rocket‘s atmospheric flight stability with
around four tonne luggage. The
second objective was to study the re-
entry characteristics of the crew
module – called Crew Module
Atmospheric Re-entry Experiment – its
aero braking and validation of its end-
to-end parachute system.
by ISRO. The launch was done from Explanation: 65-year old Alan Gross,
Satish Dhawan Space Centre at a U.S. international development
Sriharikota (AP). With successful professional, had been imprisoned in
launch of this rocket ISRO is now Cuba for five years. He was
hoping this will become the main stay prosecuted in 2011 after being
rocket in the future, which later will be accused of crimes against the Cuban
suitably equipped for ferrying Indian state for bringing satellite phones and
computer equipment. He was released
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State Bank of India, Axis Bank and pledged to root out terrorism from his
State Bank of Patiala, were cautioned country. It is worth mentioning that the
to put in place appropriate measures seven accused – Lakhvi, Abdul Wajid,
and review them from time to time to Mazhar Iqbal, Hamad Amin Sadiq,
ensure strict compliance of KYC Shahid Jameel Riaz, Jamil Ahmed and
requirements in future. This RBI action Younis Anjum are facing trial at the
came after it received a complaint in Adiala Jail in Rawalpindi.
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the Insurance Regulatory and World Bank report of 2012. The World
Bank report of 2012 titled National Rural Employment
―Government-Sponsored Health Guarantee Scheme (MGNREGS) job
Insurance in India: Are You Covered?‖ cards
estimated that over 30 crore people, or
- Scheduled Caste (SC) and
more than 25% of the population,
Scheduled Tribe (ST) farm
gained access to some form of health
households were over-represented
insurance by 2010, up from 5.5 crore
among the poorest classes with the
during 2003-04. More than 18 crore of
smallest land holdings
them were people below the poverty
line. World Bank report found that from - Large farmers were almost
2007 to 2012, government-sponsored exclusively OBC or forward caste
schemes contributed to a significant
increase in the population covered by - Wheat is the most commonly
health insurance, at a pace possibly grown crop in the first half of the
unseen elsewhere in the world. year
- Paddy growing dominates the
second half
2) The National Sample Survey Office
(NSSO) released the findings from its - Sugarcane is the most profitable
70thSituation of Agricultural crop, giving its cultivator an
Households in India on 20 December average of over Rs 80,000 per
2014. This is the most extensive season
survey of farm households to date - Private traders dominate the
conducted by NSSO. What are the procurement space, and few
most important conclusions of this farmers have enough information
survey? about Minimum Support Prices or
- Around 90% of India‟s farmers report getting the MSP for their
have less than two hectares of land produce
designed and the 4th plus generation developed railway infrastructure in the
states. SPVs would be able to raise 7) Rupert Murdoch-led News-Corp
funds through their respective acquired which Indian financial
mechanisms and with support from the education website as announced on
Ministry of Railways. 21 December 2014? –
BigDecisions.com
Explanation: BigDecisions.com is a
6) Which Indian golfer won the
Mumbai-based financial education
inaugural Dubai Open title on 21
website. It was founded by former Citi
December 2014? –Arjun Atwal
banker and IIM-Ahmedabad alumnus
Explanation: Ace golfer Arjun Atwal Manish Shah in 2013 by tying up with
ended his four-year title drought as he a former-Arthur Andersen and KPMG
won the inaugural edition of consultant-turned-techie-turned-
US$500,000 Dubai Open at the Els insurance professional Gaurav Roy. It
Club in Dubai. He held on to his is worth mentioning that News-Corp
nerves to push 19-year-old Korean had picked up a strategic stake in
Wang Jeung-hun to second place. PropTiger.com, a leading residential
Atwal won his first and only title on the real estate platform, another Indian
PGA Tour in 2010, and his last website just a month ago.
success on the Asian Tour came in
2008.
and it will change into a training and and three stints of President‘s Rule
since 2000. The BJP and the All Amsterdam to Kuala Lumpur on 17
Jharkhand Student‘s Union (AJSU) July 2014. A total of 298 people on
won the state polls, getting 42 seats in board were killed.
the 81-member assembly. The BJP
emerged as the single largest party
with 37 seats while the AJSU won five 4) One woman was killed and three
seats. were injured in a low-intensity blast
that was set-off by suspected terrorists
using an improvised explosive device
3) An AirAsia plane with 161 people on (IED) in a crowded street of Bangalore
board lost contact with ground control on 28 December 2014. This blast was
on 28 December 2014 while flying set-off just outside which popular
over the Java Sea. This plane was on eating joint of the city? – Coconut
its regular flight for Singapore from Grove
which provincial city in Indonesia? –
Explanation: The improvised
Surabaya
explosive device (IED) was kept
Explanation: AirAsia is a Malaysian wrapped in a piece of cloth behind a
low-cost carrier with presence in flower bush in front of Coconut Grove,
several Southeast Asian countries. a popular joint on Bangalore‘s Church
One of its Airbus A320-200 aircrafts city. The blast took place at 8:35 pm
(flight QZ8501) lost communication and people ran helter-skelter after the
with Jakarta‘s air traffic control at 7.24 blast. The blast is being investigated
a.m. (Singapore time), about an hour as no organisation has claimed
before it was scheduled to land in responsibility for it till late hours of 28
Singapore. The plane had six crew December.
and 155 passengers, including 16
children and one infant. The plane lost
contact when it was believed to be 5) What is the name of the Director of
over the Java Sea between Indian Institute of Technology, Delhi
Kalimantan and Java islands. The (IIT Delhi) who resigned during
whereabouts of the plane were not December 2014 amid a controversy
made till early morning of 29 following reports in a section of media
December 2014. This is the third major that attributed it to two alleged
air incident for Malaysia this year. On requests from the Union Govt.? –RK
8 March 2014 Malaysia Airlines flight Shevgaonkar
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his trademark ―helicopter shot‖ once and seven crew members — six
again. Indonesians and a French co-pilot.
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