Dr. Kirit Parikh



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May 29-30, 2014

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1) Mukesh Ambani-led Reliance Industries Ltd (RIL) recently acquired a controlling stake in which leading media house to signal the emergence of the group as a media mogul of the country? - Network18 (Network18 was started journalist-turned media baron Raghav Bahl and it owns a slew of news, entertainment and e-commerce channels such as CNN-IBN, CNBC TV18, Colors and HomeShop18, online news portal Firstpost.com and e-commerce websites such as Yatra.com and Bookmyshow.com, as well as print properties such as Forbes India magazine. The acquisition is the latest move in Ambani’s strategy to establish a widespread presence across media segments since finalising an alliance with Network18 group in 2012)

 

2) Who was elected as the new President of Egypt after a sweeping victory in the recently held presidential elections in the country? – Abdel Fatah al-Sisi (Al-Sisi is the former Egyptian Army Chief and he swept the polls with over 90% votes polled in his favour. However, the scale of his victory came as no surprise after Egypt’s top generals, media personalities and business elite united to present the former Army Chief as the only patriotic choice and most challengers declined to take part in the election)



  

3) Who was elected as the fifth President of Ukraine in Presidential Elections held on 25 May 2014? - Petro Poroshenko (Poroshenko won a convincing victory after winning around 54.7% of the votes from 21 candidates on the ballot. His closest competitor was Yulia Tymoshenko, who emerged with 12.81% of the votes. Poroshenko replaced former President Viktor Yanukovych, who prior to his dismissal and subsequent flight from the country, was considered likely to run for his second and final term)

 

4) Al Hilal Bank, one of the fastest-growing banks in the UAE, has implemented Finacle e-Banking solution. Finacle e-Banking solution is a leading banking solution of which Indian IT company? – Infosys (The Finacle e-Banking solution would enable Al Hilal to provide a range of Internet banking services to its corporate customers with highest security. It would also allow the bank to roll out new functionalities on a regular basis and build upon the existing products to provide an enhanced banking experience, all at reduced costs)



  

5) Kotak Mahindra Bank shares slipped after the RBI asked it to reduce its promoters’ shareholding. The bank is to reduce its promoters’ shareholding to what level by September 2014 as directed by the RBI? – 40% (Currently, the promoters’ shareholding in the bank is 43.58%. Hence, the bank’s promoters are required to shed 3.58% of their share. In June 2012, the RBI had asked Kotak Mahindra Bank to reduce the promoters’ holding to 20% by 2018 and 10% by 2020 from the then 45.21%. This move is to diversify the promoters’ shareholding and bring it in sync with the new banking licence regulations and thereby improve corporate governance. Kotak Mahindra Bank is a private-sector bank owned by Uday Kotak)

  

6) Who was appointed as the Principal Secretary of Prime Minister Narendra Modi, for which an ordinance was promulgated by the Union Govt. on 28 May 2014? -Nripendra Mishra (Mishra is a UP-cadre IAS officer and has held several senior positions both in Uttar Pradesh as well as at the Centre. He is a former Chairman the Telecom Regulatory Authority of India – TRAI)



  

7) What is the name of the President of Infosys who resigned from his post on 28 May 2014 giving another serious jolt to the company? - BG Srinivas (His resignation is the fourth Board-level resignation and he is the 10th senior management executive of the company to move out. Given that he was one of the contenders for the CEO’s post, Srinivas’ exit has raised eyebrows and increased speculation over whether the nominations committee had chosen to overlook his candidature)



May 31, 2014

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1) The NDA-led Union Govt. on 30 May 2014 cleared the Department of Industrial Policy and Promotion’s (DIPP) draft seeking to hike foreign direct investment (FDI) in the Defence sector up to 100%. This draft was released by the Commerce Ministry and is aimed at minimising defence imports in the country and encouraging local manufacturing. What is the maximum FDI limit in the defence sector presently? – 26% (Last year alone, India imported nearly $1.9 billion of military equipment from the United States, making it the biggest foreign buyer of US weapons)

2) Who was appointed as the new National Security Adviser to the Prime Minister by the Union Govt. on 30 May 2014? – Ajit Kumar Doval (Ajit Doval is a former chief of the Intelligence Bureau (IB) during the earlier NDA regime of Atal Bihari Vajpayee. Doval replaces Shivshankar Menon)

3) Curtains may be down on the UP Stock Exchange (UPSE), Uttar Pradesh’s only trading platform, as the deadline issued by the Securities and Exchange Board of India (SEBI) expired on 30 May 2014. The SEBI had fixed conditions for UPSE according to which the annual turnover of the exchange would have to be around Rs. 1,000 crore and its net-worth should be at-least Rs. 100 crore. In which city is the UPSE situated? – Kanpur (Kanpur-based UPSE failed to meet any of the two conditions prescribed by the SEBI)

4) Who resigned from the post of President of Gujarat Cricket Association on 29 May 2014? – Narendra Modi (Modi was first elected unopposed as the head of GCA in September 2009, when a 16-year Congress dominance at the body ended. He had then replaced Narhari Amin, who had remained at the helm of GCA since 1993. Amin is a member of the BJP now)

5) The logo for the upcoming Government of Telangana was released recently. The new state of Telangana would come into existence on 2 June 2014. Who designed this logo which features Charminar and decorated Gateway from the Kakatiya dynasty? – Laxman Aelay(Aelay is a native designer from Telangana region and he has tried to capture the essence of India, Telangana culture and Hyderabadi tehzeeb with local ethos in pleasing colours in the logo)

6) Names of two Indian-American school boys Ansun Sujoe and Sriram Hathwar came to limelight on 30 May 2014 in the U.S. because – They jointly won the National Spelling Bee for 2014 and thus became the first joint-winners of this coveted trophy since 1962 (Ansun and Sriram scripted history by becoming co-champions of the famed Scripps National Spelling Bee after a tense final to end the duel in a tie for the first time in 52 years. Scripps National Spelling Bee is the most famous spelling competition for school students of the US)


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