1) Which bank would be merged with Kotak Mahindra Bank (KMB) as approved by the Board of Directors of KMB on 20 November 2014? – ING Vysya Bank Explanation: As per as a notice to the BSE by KMB, the KMB Board approved a share swap ratio of 725 equity shares of Rs. 5 each of KMB for every 1000 equity shares of Rs. 10 each held in IVB. This merger would be first merger since 2010 in private sector banking space when Bank of Rajasthan was acquired by ICICI Bank. ING Vysya Bank was the first bank to come into existence through a merger between an Indian bank and a foreign bank when Dutch banking group ING and Vysya Bank merged in 2002 to form this bank. …………………………………………………………………. 2) In an important development the Supreme Court on 20 November 2014 removed the Director of India’s premier investigating agency – the Central Bureau of Investigation (CBI), from inquiry into one of the country’s largest financial swindles. Which case is this? – 2G spectrum scam investigation Explanation: CBI Director Ranjit Sinha was removed from 2G scam investigation case as the Supreme Court bench ruled that there is credible information that he has been trying to subvert his own agency’s inquiry on the telecom scam. Sinha has been accused by lawyer-activist Prashant Bhushan of trying to protect some of the telecom executives that his agency has charged with criminal conspiracy. As evidence, Bhushan, during September 2014, submitted a diary of visitors to the CBI chief’s home. Regular house calls were made by men who are named as the accused by the CBI. The Supreme Court has been monitoring the CBI’s investigation since 2010 based on a petition by Prashant Bhushan. The CAG in a report released in 2010, had estimated the 2G spectrum scam worth Rs. 1.76 lakh crore. …………………………………………………………………. 3) The International Film Festival of India (IFFI) was inaugurated on 20 November 2014 at Goa, which is the permanent venue for hosting the IFFI. This is which edition of IFFI? – 45th Explanation: The opening ceremony of 45th IFFI was held at Prasad Mukherjee Stadium, Bambolim (Goa) while screening of films was started at Kala Academy, Panaji. The 11-day cinematic extravaganza, which was inaugurated by Amitabh Bachchan, would feature 178 films from 79 countries. First film to be featured in the festival was Iranian filmmaker Mohsen Makhmalbaf’s film ‘The President‘. …………………………………………………………………. 4) The Securities and Exchange Board of India (SEBI) on 19 November 2014 approved new rules on insider trading that will replace a two-decade old law. Under the newly approved rule, which new segment of people will be considered insiders, i.e., persons capable of influencing prices of shares through the sensitive information they possess about particular scrip/scrips? – Immediate relatives of senior management, other stakeholders such as founders, and third-party clients handling market sensitive information Explanation: The rules, which are based on recommendations first revealed late during 2013, broaden the scope of who can be held liable for insider trading violations and require company officials to be more transparent about their trading activities. SEBI has widened the definition of who exactly is an insider by including persons in possession of or with access to unpublished price sensitive information. The definition now states that all persons and their immediate relatives with a contractual, fiduciary or employment relationship with the company will be considered “connected persons”. New insider rules are part of efforts being done by SEBI to boost investor confidence in stock markets. …………………………………………………………………. 5) Sri Lankan President Mahinda Rajapaksa on 19 November 2014 pardoned five Indian fishermen who had been sentenced to death for drug trafficking. This is expected to result in significant reduction in tension between India and Sri Lanka as the death penalty triggered a diplomatic row between the two. In which year these 5 fishermen were arrested by Sri Lankan Navy? – in 2011 Explanation: Sri Lankan Navy had arrested these 5 fishermen, belonging to Tamil Nadu, in 2011 on charges of illegal poaching in Sri Lankan waters, a charge denied by them. On 30 October 2014 a Sri Lankan court sentenced them death penalty triggering considerable anger in Tamil Nadu. India has now welcomed the death pardon by Mahinda Rajapaksa. …………………………………………………………………. 6) Four time Formula 1 (F1) champion Sebastian Vettel of Germany would join which F1 team in 2015 as confirmed by the team on 20 November 2014? – Ferrari Explanation: Vettel, who has been associated with Austrian F1 team Red Bull for 5 years, would leave it to join Italian marquee team Ferrari by replacing Spanish driver Fernando Alonso. The deal would be for 3 years. Vettel will partner Finland’s 2007 world champion Kimi Raikkonen, who has a year remaining on his contract. Alonso is expected to return to McLaren, the team he spent a torrid season with in 2007. …………………………………………………………………. 7) Which Spanish city has agreed to enter into technical collaboration with the Delhi Development Authority (DDA) and New Delhi Municipal Corporation (NDMC) to develop New Delhi as a Smart City? – Barcelona Explanation: Barcelona is hosting the Smart City Expo World Congress in which the Minister for Urban Development, Housing and Urban Poverty Alleviation and Parliamentary Affairs M. Venkaiah Naidu participated. He held talks with Xavier Trias, the Mayor of Barcelona, in which Trias announced that Barcelona would be happy to cooperate with India to develop its smart cities on the lines of Barcelona. The Mayor agreed to develop a technical collaboration proposal in cooperating directly with Delhi’s municipal agencies DDA and NDMC. Barcelona is regarded as the foremost smart city of the world.
Posted on: Mon, 24 Nov 2014 16:35:17 +0000
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