GK & Current Affairs – November 15, 2015

1. Which Indian state is considered home to the Citrus Indica, the very first species of citrus fruits in the world?
[A]Himachal Pradesh
[B]Manipur
[C]Meghalaya
[D]Kerala
Answer: Meghalaya
Meghalaya is considered as the home to the Citrus Indica or Wild Orange, the very first species of citrus fruits in the world. It is found in West Garo Hills district of Meghalaya, especially in Nokrek Biosphere Reserve. The fruit is used to treat stomach problems and jaundice.
2. Which Indian state has launched the Asia’s first ‘Gyps Vulture Reintroduction Programme’?
[A]Madhya Pradesh
[B]Haryana
[C]Gujarat
[D]Rajasthan
Answer: Haryana
Recently, Haryana government has launched ‘Gyps Vulture Reintroduction Programme’. In recent times, vulture population in India is decreased due to Diclofenac, a non-steroidal anti- inflammatory drug which is given to cattle in inflammation and pain. The vultures get exposed to the drug when they feed on the carcasses of an animal which died within 75 hours of the administration of the drug.
3. Wangala (also known as Hundred Drums), a harvest festival is celebrated by which tribe in India?
[A]Jaintia tribe
[B]Khasi tribe
[C]Garo tribe
[D]Bodo tribe
Answer: Garo tribe
The Wangala is a post-harvest festival celebrated by Garo tribe of North East India. During the festival they give thanks to the sun god of fertility. Generally, it is celebrated annually in November month.
4. Which Indian state is set to open an university exclusively for research-oriented studies related to gender?
[A]Gujarat
[B]Kerala
[C]Karnataka
[D]Tamilnadu
Answer: Kerala
Kerala government is getting ready to open an university particularly for research-oriented studies related to gender. The gender university will come up in Kozhikode district in the campus of Gender Park, an autonomous institution under the state’s Social Justice Department. The South Asian Research Centre at the Gender Park will be developed into a full-fledge varsity by next year and it will be the first such university in the country.
5. Who is the chairman of a governing council formed to oversee the activities of the National Investment and Infrastructure Fund (NIIF)?
[A]Prime Minister
[B]Finance Minister
[C]Commerce Minister
[D]Vice Chairman, Niti Aayog
Answer: Finance Minister
A Governing Council under the chairmanship of Union Finance Minister was formed to oversee the activities of the National Investment and Infrastructure Fund (NIIF). The members of the Council are Financial Services Secretary, SBI Chairperson Arundhati Bhattacharya, investment banker Hemendra Kothari and former Infosys Director T V Mohandas Pai. The mandate of the Council is approval of guidelines for investment of Trust property/Corpus of NIIF and parameters for appointment and performance of investment managers/ advisors. NIIF is a contributory and determinate investment trust, under the provisions of the Indian Trusts Act, 1882.
6. Presently, what is the maximum value that can be stored in any prepaid card (issued by banks and authorised non-bank entities) at any point of time?
[A]Rs 25,000/-
[B]Rs 50,000/-
[C]Rs 1,00,000/-
[D]Rs 2,00,000/-
Answer: Rs 50,000/-
as per extant instructions, the maximum value that can be stored in any prepaid card (issued by banks and authorised non-bank entities) at any point of time is Rs 50,000/-. The open system prepaid cards are issued by the banks can be used to withdraw cash from an ATM, purchase of goods and services at Point of Sale (POS)/E-commerce (online purchase) and for domestic fund transfer from one person to another. However, the semi-closed system prepaid cards are issued by authorised non-bank entities can be used only for purchase of goods and services at Point of Sale (POS)/E-commerce (online purchase) and for domestic fund transfer from one person to another.
7. Aung San Suu Kyi led National League for Democracy (NLD) party has won the election in which country?
[A]Cambodia
[B]Myanmar
[C]Thailand
[D]Indonesia
Answer: Myanmar
Myanmar’s opposition leader Aung San Suu Kyi’s party has won the recent election conducted in Myanmar. The party has ousted the military-linked present government. This win will take the Myanmar closer to full democracy. Suu Kyi and her party are the long time antagonists to the generals who ruled Myanmar from a coup in 1962 until 2011, when they handed power to their political arm after a 2010 vote that was tainted by allegations of fraud and boycotted by the opposition.
8. Which one of the following has launched the country’s first low-income state infrastructure equity partnership (or the Neev fund)?
[A]State Bank of India
[B]HDFC Bank
[C]ICICI Bank
[D]Life Insurance Corporation of India
Answer: state Bank of India
Recently, Prime Minister Narendra Modi has launched the country’s first low-income state infrastructure equity partnership (or the Neev fund) in London. State Bank of India has partnered with the British department for international development to launch this fund that will invest in small infrastructure projects in eight low-income states.
9. What is the name of India’s first mobile-based platform to facilitate global investments for domestic retail investors?
[A]Indostock
[B]Infystock
[C]Stockal
[D]Glostock
Answer: Stockal
Recently, SIC Global, a Bangalore based brokerage has launched, India’s first mobile-based platform to facilitate global investments for domestic retail investors. The application is called Stockal and it will provide intelligence for investments on NASDAQ and NYSE listed equities. With this app, retail investor can now hedge their books and portfolio by trading the same stock in global market as ADR.
10. What is the free remittance limit under the Liberalised Remittance Scheme (LRS)?
[A]USD 1,50,000 per financial year
[B]USD 2,50,000 per financial year
[C]USD 3,50,000 per financial year
[D]USD 5,00,000 per financial year
Answer: USD 2,50,000 per financial year
Under the Liberalised Remittance Scheme (LRS, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year for any permissible current or capital account transaction or a combination of both. There are no restrictions on the frequency of remittances under LRS.

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