14 February 2014 – Current Affairs

Article Updated on 14 Feb, 2014
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1) What is the name of India’s first public sector unit (PSU), the revival plan for which was approved by the Cabinet Committee on Economic Affairs (CCEA) on 13 February 2014? – ITI Limited, which was formerly known as Indian Telephone Industries Ltd (The company was established in 1948 and was incorporated in 1950 under the then Mysore Companies Act, 1938 and later converted as the first PSU of the country to assist the Government in the sensitive and strategic telecommunication field. The company was referred to the Board of Industrial and Financial Restructuring (BIFR) in 2004-05 and declared a sick company. BIFR had recommended a revival plan for ITI Ltd. The revival plan will be supported through financial restructuring by fund infusion of Rs. 4,156.79 crore)

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2) RBI Governor Raghuram Rajan announced on 12 February 2014 that in coming days Indian citizens without a bank account would be able to withdraw cash from an ATM (automated teller machine) with the help of mobile technology. Payment banks will play important role in facilitating this system under which a payment system will facilitate funds transfers from bank account holders to those without accounts through ATMs. Which committee had recently recommended establishment of payment banks? – Nachiket More Committee on Financial Inclusion (The interesting proposal essentially is that the sender can go to an ATM with a participating bank and ask the money to be withdrawn from his account. The intermediary then processes the payment and sends a code via mobile to the recipient. The recipient takes that code to the nearest ATM of that participating bank, punches in the code and withdraws the money)

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3) The United States ended its nine-year hands-off distance from Gujarat Chief Minister Narendra Modi with U.S. Ambassador Nancy J. Powell meeting him in Gandhinagar on 13 February 2014. The U.S. Government had cancelled Narendra Modi’s visa in 2005 under which act, which is applied rarely? – The Immigration and Nationality Act (This rarely applied U.S. legislation bars grants of visa to applicants such as convicted war criminal Slobodan Milosevic who might have indulged in severe violation of religious freedom. However, the U.S. govt. is still silent on revoking the visa ban imposed on Modi. Gujarat is not only the location of several American start-ups but the site of a multi-billion-dollar site for nuclear power reactors – the biggest single ticket investment opportunity for the U.S. economy in India. While the European Union was the first in the Western bloc to end the deliberate isolation of Narendra Modi ever since the Gujarat riots of 2002, the Gujarat Chief Minister has been feted by other countries including a high profile visit to China)

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4) What is the name of the expelled Congress MP whose name came to limelight for using the hazardous pepper spray to prevent the introduction of the Telangana bill in the Lok Sabha leading to chaos and disarray in House on 13 February 2014? – L. Rajagopal (He represented Congress from Vijayawada. The spray was used in the Well of the House as Home Minister Sushilkumar Shinde introduced the Andhra Pradesh Re-organisation Bill amid vociferous protests by members from Seemandhra)

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5) Balu Mahendra, who passed away on 13 February 2014 at a Chennai hospital, was associated with which field? – Films (74-year old Balu Mahendra was a renowned Tamil film director and ace cinematographer. His masterpieces such as ‘Azhiyatha Kolangal’, ‘Moontram Pirai’, ‘Veedu’, ‘Santhiya Ragam’ and ‘Vanna Vanna Pookal’ left an indelible mark on the Indian film industry)

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2 Responses on This Article

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  1. preeti siwach says:

    mast..

  2. PHANI REDDY VELAGALA says:

    excellent stie

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