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Wednesday, December 19, 2012

Daily Current Affairs Quiz: 19 December 2012

1. The Lok Sabha on Tuesday, 18 Dec 2012, gave its approval for the Companies Bill 2011, paving the way for a new modern company law. The proposed legislation will replace the existing Companies Act 1956, which was enacted 56 years ago. Besides making independent directors more accountable and improving the corporate governance practices, the Bill seeks to make corporate social responsibility mandatory for certain companies. SFIO will be given more statutory powers in the new Bill. Moreover, there will be better co-ordination between investigative agencies at the State and Centre, I-T Department and the Information Technology Ministry with SFIO. What is SFIO?
[Category: Economy Current Affairs]
[A]Senior Fraud Investigation Office
[B]Serious Fraud Investment Office
[C]Serious Financial Investigation Office
[D]Serious Fraud Investigation Office

2. This European country on Tuesday, 18 December 2012, announced it will legalise abortions when the mother’s life is at risk, weeks after the death of Indian dentist Savita Halappanavar who died after being refused an abortion in the European country. The decision comes after a huge public outcry over the death of 31-year-old Savita, who died on October 28, 2012 at Galway University Hospital. She had been 17-week pregnant and was found to be miscarrying. Which country has changed its abortion laws?
[Category: World Current Affairs]

3. The Banking Amendment Bill, a major reforms legislation, on Tuesday, 18 December, got the approval of the Lok Sabha after the government dropped the controversial provisions relating to allowing banks to trade in futures and keeping the sector outside the purview of Competition Commission. While RBI would regulate the banking sector, the Competition Commission of India (CCI) would look into competition practices in the banking sector. The proposed law will also give the power to inspect the books of banks’ associate companies to whom?
[Category: Business Current Affairs]
[A]Competition Commission of India (CCI)
[B]Reserve Bank of India (RBI)
[C]Ministry of Finance
[D]Standing Committee on Finance

4. China is listed as the leading source of global outflows of tainted money with India ranking eighth in the list compiled by a Washington-based organization Global Financial Integrity (GFI). Some 150 developing countries lost $5.9 trillion by way of illegal outflows between 2001 and 2010. What amount did India lost in black money, making it the eighth largest victim of illegal financial outflow?
[Category: Politics and Nation Current Affairs]
[A]Nearly $12 billion
[B]Nearly $23 billion
[C]Nearly $123 billion
[D]Nearly $173 billion

5. Countdown for the upcoming Maha Kumbh congregation began in Allahabad on Tuesday 18th Dec 2012 with thousands of Naga sadhus, revered for their austerity and feared for their quick temper, marching in a majestic procession to their camps in the vicinity of the holy confluence of Ganga, Yamuna and mythical river Saraswati. More than 5,000 scantily-clad Naga sadhus made their ceremonial entry into the sprawling Kumbh Mela on the first day of the ceremonial entry of ascetics. By what name it is popularly known?
[Category: India Current Affairs]