July 15th, 2017 Current Affairs Questions and Answers

Daily Current Affairs : July 15th, 2017

Day Wise Current Affairs Quiz Questions and Answers on July 15th, 2017
1. Which insurance company on July 14, 2017 filed for an Initial public offering (IPO)?
[A] ICICI Lombard
[B] United India
[C] IDBI Federal Life Insurance
[D] HDFC Life
[E] Life Insurance Corporation

Answer: A. ICICI Lombard

Explanation:

ICICI Lombard General Insurance Company has filed draft prospectus with Sebi to dilute around 19% stake through an initial public offering. ICICI Lombard, a joint venture between ICICI Bank and Canada-based Fairfax Financial Holdings Ltd, will be the first private general insurer to go public with an IPO. 
2. As per a report by the Telecom Regulatory Authority of India, India's telecom subscriber base crossed ___ billion mark in May 2017, while its landline user base declined to _____ million.
[A] 1.3, 24.30
[B] 1.1, 24.23
[C] 1.2, 24.16
[D] 1.7, 24.58
[E] 1.9, 24,89

Answer: C. 1.2, 24.16

Explanation:

According to the Telecom Regulatory Authority of India, the telecom subscriber base crossed 1.2 billion mark in May.Reliance Jio continued to lead the growth momentum with net addition of 4.7 million new customers followed by Bharti Airtel, BSNL and Vodafone.The landline user base declined to 24.16 million at the end of May, as compared to April’s 24.30 million users.
3. Who has been appointed as Managing Director and Chief Executive Officer of National Stock Exchange of India?
[A] Chitra Ramkrishna
[B] Prannoy Chatterjee
[C] Vaishali Kumar
[D] Vikram Limaye
[E] Harish Jhakkar

Answer: D. Vikram Limaye

Explanation:

Vikram Limaye will join the National Stock Exchange of India as its new managing director and chief executive from Monday. He has been relieved by the Supreme Court of his responsibilities at Board of Control for Cricket in India (BCCI) with immediate effect. He was selected as the chief of the exchange by the board of NSE in February following the abrupt exit of Chitra Ramkrishna in December last year. In March, shareholders of the exchange had approved the appointment.
4.

On July 15, 2017 The US passed a Bill regarding defence co-operation with India. Which of the given fact/s about the Bill is/are false?



1. The Bill has a budget of $631.5 billion.



2. It is a part of the National Defense Authorisation Act (NDAA) 2018.



3. Following the passage of the Act, the Secretary of Defence and Secretary of State have 180 days to develop a strategy for advancing defence cooperation between the two countries.



4. Once approved by the Senate and the President the Bill will come into effect from October 1.


[A] Only 1
[B] Both 1 and 2
[C] Both 2 and 3
[D] 1, 3 and 4
[E] 1, 2 and 3

Answer: A. Only 1

Explanation:

The United States House of Representatives passed a defence policy Bill worth $621.5 billion, which proposes boosting cooperation with India in the sector. The National Defense Authorisation Act, 2018, was passed with 344 to 81 vote. 

If the legislation is approved by the US Senate and signed by President Donald Trump, it will come into effect on October 1. Once the Act comes into effect, the Secretary of Defence and Secretary of State will have three months to come up with a strategy to strengthen cooperation between the US and India in the defence sector.

5. On July 15, 2017 Indian railways launched the Rail SAARTHI app to cater to all kinds of passenger requirements. The app was designed by which company?
[A] 3i Infotech
[B] TCS
[C] Unihalt
[D] CRIS
[E] Tech Mahindra

Answer: D. CRIS

Explanation:

Rail SAARTHI app was designed by the Centre for Railway Information Systems(CRIS). The Rail Saarthi is an abbreviation of the term, “Synergised Advanced Application Rail Travel Help and Information). This app also caters to features such as safety for women, compliant facility and suggestion for improvement, according to the minister. Interestingly, you can also book air ticket through the app and give feedback. The integrated mobile app will cater to other passenger needs like booking porter, retiring room, ordering food besides train tickets. 
6. Which country on July 15, 2017 passed 3 legislative amendments against Pakistan?
[A] China
[B] USA
[C] India
[D] Saudi Arabia
[E] Iran

Answer: B. USA

Explanation:

The US House of Representatives has voted for three legislative amendments to impose tougher conditions+ for reimbursement of defence funding to Pakistan, making it conditional to Islamabad showing satisfactory progress in the fight against terrorism.The conditions are related to Pakistan's support to terrorists and terror outfits, about which several top US officials and lawmakers have repeatedly expressed concern about in the past.
7. Name the ex-Prime Minister of India whose name has been removed by Somerville college in the University of Oxford on July 15, 2017.
[A] Jawaharlal Nehru
[B] Manmohan Singh
[C] Morarji Desai
[D] Vishwanath Pratap Singh
[E] Indira Gandhi

Answer: E. Indira Gandhi

Explanation:

A centre established by Somerville college in the University of Oxford in 2013 with a £3 million grant from India and named after Indira Gandhi has seen the name of the former prime minister dropped after the Narendra Modi government came to power in 2014. Gandhi studied Modern History in Somerville college in 1937.
8. As per a report by the think-tank organisation, ICRIER, internet-based apps contributed Rs _____ lakh crore to GDP in 2015-16.
[A] 1.3
[B] 1.2
[C] 1.4
[D] 1.6
[E] 1.5

Answer: C. 1.4

Explanation:

Internet-based applications have contributed Rs 1.4 lakh crore to the country's GDP in 2015-16, a report by the think-tank organisation, ICRIER. along with the Broadband India Forum said. As per the study, a 10% increase in India's total Internet traffic, delivers an average increase of 3.3% to India's GDP.  Whereas a 10% increase in mobile Internet traffic delivers an average increase of 1.3% to the country's GDP.

9. _______ will be the service provider for IPL from 2018.
[A] GEA
[B] AAA
[C] RCS
[D] IMG
[E] OCT

Answer: D. IMG

Explanation:

The Board of Control for Cricket in India (BCCI) has decided to retain the services of UK-based International Management Group (IMG) for the next five editions of Indian Premier League beginning 2018.The decision has also received the nod of the Committee of Administrators (COA), which is meeting in Delhi on Saturday to discuss the contracts of BCCI support staff.
10. Which bank on July 14, 2017 received $150 million from the US government and Wells Fargo for SME Lending?
[A] Axis Bank
[B] Yes Bank
[C] HDFC Bank
[D] ICICI Bank
[E] None of the above

Answer: B. Yes Bank

Explanation:

Yes Bank has received $ 150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. This is the third round of funding to the bank as part of arrangement with the Overseas Private Investment Corporation (OPIC) --the US government development finance institution -- and Wells Fargo.