1) Which city on 3 June 2015 became the sixth in India to have the metro rail system? – Jaipur
Explanation: Rajasthan Chief Minister Vasundhara Raje flagged off the inaugural train of state capital city’s metro rail system on 9.6 km long route from Mansarovar to Chandpole. Thus Jaipur’s metro rail system was thrown open to the public and Jaipur became the sixth Indian city to have the metro rail system after Kolkata, Delhi NCR, Bangalore, Gurgaon and Mumbai. Jaipur Metro is being touted as one of the fastest built metro systems in the country. This metro system will be managed by the Jaipur Metro Rail Corporation (JMRC). For effective execution of the project in its initial stages, the total work of Phase-1 was divided into two parts – Phase-1A and Phase-1B. The Phase 1A is from Mansarovar to Chandpole, that was opened on 3 June, while work on phase 1B from Chandpole to Badi Chaupad is underway.
2) The Reserve Bank of India (RBI) on 2 June 2015 cut the Repo Rate by 25 basis points. The latest cut takes the number of rate cuts this calendar year to three. What is the new Repo Rate after this cut? – 7.25%
Explanation: Taking advantage of subdued inflation to give more support to the economy, the RBI Governor Raghuram Rajan cut the benchmark Repo Rate by 25 basis points to 7.25%. Previous cuts, in January and March 2015, had also been by 25 basis points. But, two other important rates – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR), were left unchanged. The reduction showed policymakers recognised the need to put the economy on a sounder footing, regardless of data released on 29 May 2015 that disclosed that India outpaced China by growing 7.5% in the March quarter. The rate reduction answered calls from both the government and businesses for the RBI to do more to shore up the economy. Corporate earnings have been dismal, growth in bank lending has been the lowest in almost two decades, and weak industrial output data is at odds with the strong GDP numbers.
3) PSU-based power generation machinery maker Bharat Heavy Electricals Limited (BHEL) during June 2015 secured the single-largest order in its history for setting up a 4,000 MW (5×800 MW) supercritical thermal power project in a state. Which state is this? – Telangana
Explanation: Under this huge order, BHEL would establish a 4,000 MW (5×800 MW) supercritical thermal power project from Telangana State Power Generation Corporation Limited (TSGENCO). Valued at Rs. 17,950 crore, this is also one of the highest value orders ever placed in the capital goods sector in India. The newly formed Telangana state utility, TSGENCO has entrusted BHEL with this order for setting up the 5×800 MW thermal power plant, with supercritical parameters, on Engineering, Procurement and Construction (EPC) basis, at Damaracherla in Nalgonda District in the state, named as Yadadri Thermal Power Project. Earlier, in December, 2014, TSGENCO had placed an order on BHEL for setting up Telangana’s first Supercritical Thermal Power Plant of 800 MW rating, also on EPC basis, at Kothagudem, followed by an order for the 4×270 MW Bhadradari TPS at Manuguru in Khammam district in March 2015.
4) Prime Minister Narendra Modi would become the first-ever Indian Prime Minister to visit which important country, as announced by External Affairs Minister Sushma Swaraj on 1 June 2015? – Israel
Explanation: No Indian Prime Minister has visited Israel till now, despite India setting up full relations with the country more than two decades ago. It was during the previous NDA tenure in 2000 that Jaswant Singh became the first Indian foreign minister to visit Israel, and PM Ariel Sharon the first Israeli PM to visit India (2003). However, the External Affairs Ministry made it clear that the proposed visit of Modi to Israel did not indicate any shift in the Indian position. But it will in fact be a break with the past.
5) Which mutual fund house retained its position as the most profitable fund house in India in 2014-15 as disclosed in the data released by industry body AMFI recently? –HDFC Mutual Fund
Explanation: The profit after tax (PAT) for HDFC Mutual Fund stood at Rs. 416 crore during 2014-15. Its rival Reliance Mutual Fund was able to retain its second position with PAT of Rs. 357 crore during last fiscal. ICICI Prudential MF, the second largest fund house in terms of assets base, reported a profit after tax of Rs. 247 crore, while Birla Sunlife MF posted a PAT of Rs. 123 crore. On the assets under management (AUM) front, HDFC maintained its lead with assets base of Rs. 1.46 lakh crore, followed by ICICI MF Rs. 1.32 lakh crore, Reliance MF Rs. 1.24 lakh crore and Birla Sunlife MF at Rs.1.07 lakh crore.
6) In a surprising development, FIFA President Sepp Blatter resigned on 2 June 2015 just four days after he was re-elected to a fifth term as president of the World’s most powerful football body. This resignation was in the face of a U.S.-led corruption investigation that has plunged FIFA into the worst crisis in its history. Blatter was heading FIFA since which year? – 1988
Explanation: Sepp Blatter (Switzerland), who had been heading FIFA since 1988, was under intense pressure after the US investigation agency FBI, during May 2015 raided a hotel in Zurich and arrested several FIFA officials into alleged widespread financial wrongdoing stretching back for years. Swiss authorities mounted their own criminal probe into the award of the 2018 and 2022 World Cups to Russia and Qatar, respectively. While Blatter was not mentioned in either the U.S. or Swiss investigations, there were widespread calls for him to quit, mostly from Western nations. The investigation however closed in on Blatter on 2 June 2015, when FIFA was forced to deny that his right-hand man, Secretary-General Jerome Valcke, was implicated in a $10 million payment that lies at the heart of the U.S. case.
7) The State Bank of India (SBI) on 2 June 2015 cut its base lending rate by 15 basis points hours after the RBI had reduced the Repo Rate by 25 basis points. What is the new lending rate of SBI after this cut? – 9.7%
Explanation: SBI, which is India’s top lender by assets, cut its base lending rate by 15 basis points to 9.7%, which will came into effect from 8 June 2015. With this, the equated monthly installments (EMIs) on home and auto loans are likely to come down. Apart from SBI, some other smaller state lenders also announced base lending rate cuts of between 25 and 30 basis points. Allahabad Bank, Dena Bank, and Punjab and Sind Bank also announced rate cuts on the same day.
8) Which FMCG group on 2 June 2015 announced its acquisition of the hair and scalp care business of Kesh King for Rs.1,651 crore through a slump sale? – Emami Limited
Explanation: Kesh King is the brand name of Himachal Pradesh-based SBS Biotech Pvt. Ltd. As per deal, promoter of SBS Biotech Sanjeev Juneja’s brand portfolio of “Kesh King” Ayurvedic medicinal oil, herbal shampoo and conditioner and Ayurvedic capsules along with its formulations, assets, rights and liabilities including working capital will be transferred to Emami. Kesh King and allied brands had a revenue of Rs.300 crore in 2014-15 and have been growing at an average of 68% a year for the last three years. Emami is now in a dominant position in the Ayurvedic and herbal space. In the Ayurvedic hair oil segment, Kesh King is the market leader and this will help Emami consolidate its position. Emami is new to the Ayurvedic hair and scalp care segment.
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