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Thursday, July 6, 2017

Current Affairs July 05, 2017

New Israeli flower named after PM Modi
A new fast-growing Israeli flower was named after Prime Minister Narendra Modi, in a special gesture to mark the first visit of an Indian premier to the Jewish nation.
Israeli Crysanthumun flower will now be called “MODI”, officials said.
Modi’s three-day visit to Israel is the first by an Indian prime minister to the Jewish nation.
Jerusalem is the capital of Israel and Shekel is its currency.

'Kambala' Buffalo Race Gets President's Assent
The President gave his assent to the bill passed by Karnataka Assembly to legalise traditional buffalo race 'Kambala'.
Bowing to public pressure, a bill to legalise traditional buffalo race 'Kambala' and bullock cart races in Karnataka was passed by the state Assembly in February with all parties backing the move.

TERI ranked second among world's climate think tanks
TERI was ranked number two by the International Center for Climate Governance (ICCG), an internationally-renowned body whose activities focus on the design of climate policy and related governance issues.
The New Delhi-based think tank was ranked under the category '2016 Top Climate Think Tanks in the Rest of the World--Absolute Global Rankings' during ICCG's 23rd annual conference of the European Association of Environmental and Resource Economists (EAERE) in Athens in Greece.
TERI conducts research for the sustainable development of India.

India’s tallest ATC tower to be operational at Delhi airport by December
The new 101.9-metre air traffic control (ATC) tower at the Delhi airport, touted to be the country’s tallest, is likely to start operations by December.
The airport operator has handed over the tower to the Airports Authority of India (AAI), whose chief said trial runs will begin soon.
The tower, among the tallest structures in Delhi, will give a 360-degree view of the airport to the controllers who will be able to see all the three runways, aprons and taxiways.

ICICI Bank, Fairfax join venture terminated
ICICI Bank on Tuesday said the joint venture agreement between it and Fairfax Financial Holdings Ltd has been terminated ahead of the IPO of ICICI Lombard General Insurance Company.
A Termination Agreement is a customary provision for an IPO.
The agreement is executed for the protection of the parties in the event of non-completion of the proposed IPO on or before a mutually agreed date.

 Himachal Pradesh DGP Sanjay Kumar appointed new NDRF chief
Himachal Pradesh DGP Sanjay Kumar has been appointed as the new chief of the National Disaster Response Force (NDRF).
The Union home ministry issued an order appointing Kumar, a 1985-batch Indian Police Service (IPS) officer, to the top NDRF post.
The post of NDRF Director General (DG) fell vacant after incumbent RK Pachnanda was appointed as the chief of the Indo-Tibetan Border Police (ITBP).

Pune NGO wins UN prize for sustainable farming model
Swayam Shikshan Prayog, a Pune based NGO, has been awarded the United Nations Development Programme’s Equator Prize for devising an ecologically sustainable agriculture model to combat the adverse impacts of drought.
It is the only Indian organisation to win the award, making the cut from more than 800 nominations across 120 countries.
The prize-winning initiative is a women-led ‘climate resilient agro-ecological farming model’ for restoring land and soil.

Veteran Marathi actor-writer Madhukar Toradmal passes away
Veteran Marathi actor-writer Madhukar Toradmal died. Toradmal (84) was suffering from kidney failure.
Toradmal was a writer, director and actor.
He had acted in Marathi as well as Hindi films including “Simhasan,” “Aapli Manasa”, “Atmavishwas” and “Raakh”.

THE HINDU EDITORIAL: 6-JULY–2017

THE HINDU EDITORIAL


Missile diplomacy: U.S. must be inventive in responding to North Korea
In early January, Donald Trump, then the U.S. President-elect, tweeted that North Korea would never develop a “nuclear weapon capable of reaching parts of the U.S.”. But Pyongyang appears to have done exactly that, defying warnings issued by Washington. Tuesday’s test of an intercontinental ballistic missile, that appears to be capable of striking Alaska, poses perhaps the greatest foreign policy challenge so far before Mr. Trump. And he appears to be lost for an effective response. While senior officials of the Trump administration have consistently talked tough, they have banked heavily on China, North Korea’s most crucial political and economic ally, to rein in its missile programme. Mr. Trump had even offered China better trade deal for its help in addressing the crisis and appreciated President Xi Jinping’s efforts. But neither the tough posturing nor banking on China’s help seems to have worked, and Kim Jong-un, North Korea’s Supreme Leader, remains as defiant as ever. Washington’s response to the missile test was typical. The U.S. and South Korea immediately conducted missile exercises to counter “North Korea’s destabilizing and unlawful actions”, and the State Department asked for more UN sanctions on the North. But had sanctions and threats been effective as a strategy, Mr. Kim would not have carried out the ICBM test in the first place. Ever since he took power in 2012 he has steadily expanded North Korea’s missile programme; challenging the U.S. is central to his foreign policy doctrine. All these years the U.S. has stepped up sanctions and taken an incrementally harsher line towards the Kim regime. Mr. Trump has simply followed the Obama administration’s stick-and-sanctions policy towards the North, but with a China emphasis. But he is now back to square one, with very few options. Though the administration has said all options are on the table, even a limited military strike would be dangerously risky. Given the unpredictability of the Kim regime, any attack could be tantamount to a declaration of war on the Korean peninsula. Another option is to continue the tested-and-failed policy of sanctions and international isolation, which would mean more trouble for the North Korean people with an uncertain effect on the roguish regime. It is also unclear whether China will back such isolation. A third option, something that both the Obama and Trump administrations have seemingly overlooked so far, is to hold direct negotiations with Pyongyang. It may appear strange given the current hostility, but that remains the only realistic option before Washington. Mr. Trump has a counterpart in Seoul, Moon Jae-in, who is more inclined to addressing the issue through diplomacy. Besides, there is the history of the North freezing its nuclear programme for nearly a decade in 1994 after a deal with world powers. Mr. Trump should take a realistic view of the crisis rather than immediately opt for retaliatory and punitive measures.

Protecting prisoners: Reforms must secure rights of inmates
The focus of public and judicial concern over the situation prevailing in India’s prisons has in recent times been related to overcrowding and long spells of incarceration faced by indigent inmates too poor to obtain bail. On some occasions, such as when the horrific blinding of prisoners in Bhagalpur took place over three decades ago, the stark human rights situation also attracted attention. The brutal murder of a woman life convict in the Byculla women’s prison in Mumbai on June 23 has brought the focus back on custodial violence, especially the vulnerability of inmates to authoritarian behaviour. The allegation that prison guards targeted Manjula Shette, a lifer brought to the jail a couple of months ago from the Yerwada Central Prison in Pune as a warder, over some missing rations is indeed startling. It is said she incurred the wrath of the guards because of her rising popularity among the women prisoners. This suggests that until her arrival the inmates may not have been accustomed to even rudimentary care from the jail authorities. Eyewitnesses say that when the warder was severely assaulted by the guards, it led to a riot-like situation among the prisoners. It is not difficult to surmise that simmering discontent over the prevailing conditions, and an intense animus between the guards and the inmates, were behind the events. It is some consolation that the police have arrested six prison officials for the custodial murder. It is disconcerting that the untoward incident took place at a time when the Maharashtra government had been directed by the Bombay High Court to undertake a comprehensive review of the conditions in three major prisons in the State. As per the March 2017 court order, an empowered committee was to be constituted to look into all aspects of the jails in the light of Supreme Court decisions, the Model Prison Manual of 2016 and relevant UN resolutions. In particular, the panel was to suggest measures to create modern jails and modernize amenities. In the last half century, the superior courts have passed a series of orders to reform jails. The issues range from prisoners’ rights, health, hygiene and access to legal aid, to the condition of women inmates and their children. The judiciary’s approach has been anchored in the belief that fundamental rights “do not part company with the prisoner at the gates”. The Union Home Minister released a model jail manual last year. It makes clear that the state is under an obligation to protect the residuary rights of prisoners after they surrender their liberty to a legal process. One can only reiterate a principle already enshrined in it: the management of prisons must be marked by firm discipline, but also due regard to the human rights of prisoners. Prison reforms are not only about amenities and conditions; they must also address the prisoner’s right to life.

Words
1) Prevailing
Meaning: Existing in a particular place or at a particular time.
Synonyms: Current, Existing, Prevalent

2) Incarceration
Meaning: To put or keep someone in prison or in a place used as a prison.
Synonyms: Imprisonment, Internment, Confinement
Antonyms: Freedom

3) Indigent
Meaning: Very poor.
Synonyms: Poor, Impecunious, Destitute
Antonyms: Rich

4) Stark
Meaning: Empty, simple, or obvious, especially without decoration or anything that is not necessary.
Synonyms: Sharply Delineated, Desolate
Antonyms: Fuzzy, Indistinct

5) Allegation
Meaning: A statement, made without giving proof, that someone has done something wrong or illegal.
Synonyms: Claim, Assertion, Declaration

6) Startling
Meaning: To do something unexpected that surprises and sometimes worries a person.
Synonyms: Surprising, Astonishing, Amazing
Antonyms: Predictable, Ordinary

7) Incurred
Meaning: To experience something, usually something unpleasant, as a result of actions you have taken.
Synonyms: Suffer, Sustain, Experience
Antonyms: Avoid

8) Wrath
Meaning: Extreme anger.
Synonyms: Anger, Rage, Fury, Annoyance
Antonyms: Happiness, Good Humour

9) Rudimentary
Meaning: Basic / Rudimentary methods, equipment, systems, are simple and not very well developed.
Synonyms: Basic, Elementary, Introductory
Antonyms: Advanced, Sophisticated

10) Assaulted
Meaning: A determined or serious attempt to do something difficult.
Synonyms: Hit, Strike

11) Surmise
Meaning: To guess something, without having much or any proof .
Synonyms: Guess, Conjecture, Suspect
Antonyms: Know

12) Simmering
Meaning: Exist in a suppressed state / something that is simmering is controlled but may burst out at any time, often violently.
Synonyms: Be Furious, Be Enraged, Be Angry

13) Animus
Meaning: A feeling of hate or anger towards someone or something.
Synonyms: Hostility, Animosity, Antagonism

14) Inmates
Meaning: A person who is kept in a prison or a hospital for people who are mentally ill.
Synonyms: Prisoner, Convict, Captive, Detainee

15) Reiterate
Meaning: To say something again, once or several times.
Synonyms: Repeat, Say Again, Restate, Retell

16) Enshrined
Meaning: To contain or keep something as if in a holy place.
Synonyms: Set Down, Set Out, Spell Out

17) Amenities
Meaning: Things considered to be necessary to live comfortably.
Synonyms: Facility, Service, Convenience

18) Defying
Meaning: To refuse to obey a person, decision, law, situation, etc.
Synonyms: Disobey, Rebel Against, Flout

19) Posturing
Meaning: Behavior or speech that is intended to attract attention and interest, or to make people believe something that are not true.
Synonyms: attitude, stance, stand

20) Destabilizing
Meaning: Upset the stability of (a region or system); cause unrest or instability in.
Synonyms: Undermine, Weaken, Impair
Antonyms: Strengthen, Shore Up

21) Emphasis
Meaning: The particular importance or attention that is given to something.
Synonyms: Prominence, Importance, Significance

22) Tantamount
Meaning: Being almost the same or having the same effect as something, usually something bad.
Synonyms: Equivalent To, Equal To, Amounting To

23) Roguish
Meaning: Characteristic of a dishonest or unprincipled person.
Synonyms: Unprincipled, Dishonest, Deceitful
Antonyms: Honest, Honorable

24) Retaliatory
Meaning: A retaliatory action is one that is harmful to someone who has done something to harm you.

25) Punitive
Meaning: Intended as a punishment.
Synonyms: Penal, Disciplinary, Corrective

Wednesday, July 5, 2017

Logical Reasoning Puzzle

Directions (1 - 6) Study the following information and answer the questions given below:
  • Twelve people are sitting in two parallel rows containing six people each, in such a way that there is an equal distance between adjacent persons.
  • In row - 1 P, Q, R, S, T and V are seated and all of them are facing South. In row - 2  A, B, C, D, E and F are seated and all of them are facing North. Therefore in the given seating arrangement each member seated in a row faces another member of the other row.
  • S sits third to the right of Q. Either S or Q sits at an extreme end of the line. The one who faces Q sits second to right of E. Two people sit between B and F. Neither B nor F sits at an extreme end of the line. The immediate neighbour of B faces the person who sits third to left of P. R and T are immediate neighbours of each other. C sits second to the left of A. T does not face the immediate neighbour of D.
1. Who amongst the following sit at extreme ends of the rows?
(1) S, D                        
(2) Q, A
(3) V, C                        
(4) P, D
(5) Q, F

2. Who amongst the following faces S?
(1) A                             
(2) B
(3) C                              
(4) D
(5) F

3. How many persons are seated between V and R?
(1) One                        
(2) Two
(3) Three                   
(4) Four
(5) None

4. P is related to A in the same way as S is related to B based on the given arrangement. To which of the following is T related to, following the same pattern?
(1) C                              
(2) D
(3) F                              
(4) E
(5) Cannot be determined

5. Which of the following is true regarding T?
(1) F faces T
(2) V is an immediate neighbour of T
(3) F faces the one who is second to right of T
(4) T sits at one of the extreme ends of the line
(5) Q sits second to the right of T



Directions (6 - 10): Study the following information and answer the given question.
  • Eight friends−J, K, L, M, N, O, P and Q live on eight different floors of a building but not necessarily in the same order. 
  • The lowermost floor of the building is numbered one, the one above that is numbered two and so on till the topmost floor is numbered eight. 
  • J lives on floor numbered 4. Only one person lives between J and L. O lives on the floor immediately below L. 
  • Only one person lives between O and P. P lives above O. O lives on floor numbered 5. 
  • Only one person live between K and N, M lives on an even numbered floor but does not live on floor numbered 8.  K lives below Q’s floor.


Direction (Ques 6 - 10) Read the following information and answer the questions that follow:
  • Ten persons seating in two parallel rows containing five persons each, in such a way that there is equal distance between adjacent persons. 
  • In row‐1 J, K, L, M and N are seated (not necessarily in the same order) and all of them arc facing south. 
  • In row‐ 2 V, W, X, Y and Z are seated (not necessarily in the same order) and all of them are facing north. 
  • Therefore in the given seating arrangement each member seated in row faces another member of the other row. 
  • Z sits third to the right of W. V sits second to the left of Z. The person facing V sits to the immediate right of K. 
  • Only one person sits between K and M. J is not an immediate neighbour of K. Only two persons sit between J and L, Neither K nor J faces Y.
6. Who amongst the following is facing N ?
A) Y 
B) V
C) X 
D) W
E) Z

7. Which of the following statements is true regarding M ?

A) M faces one of the immediate neighbours of X.
B) K is one of the immediate neighbours of M.
C) None of the given statements is true
D) L sits to the immediate right of M.
E) Only one person sits between M and N.

8. Who amongst the following is facing X ?

A) K
B) L
C) M
D) J
E) N

9. What is the position of Z with respect to Y ?

A) Third to the right
B) Second to the right
C) Immediate left
D) Immediate right
E) Second to the left

10. Four of the following five are alike in a certain way based on the given arrangement and hence form a group. Which of them does not belong to that group?

A) M 
B) J
C) Y 
D) W
E) N


Answers (1 - 5)
1. (4)
2. (1)
3. (2)
4. (2)
5. (3)
6. (5)

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Answer (6 - 10)

6. e 
7. d
8. a 
9. c
10.c

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Mutual Fund: Banking Awareness

Mutual fund
Mutual fund is a combined investment. the group of investors invest in Securities for a short period. UTI AMC is the oldest mutual fund company in India. There is a fund manager to decides the investments of funds. Profit or loss is equally distributed in investors.
A mutual fund is an investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money managers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.
Types of Mutual funds
Index fund: It is a fund for the investors who do not need a direct call for a share.
Diversified scheme:  This fund is for those who do not want to invest in a special sector.
Open ended and close ended fund: Close ended funds can not issue a new unit except bonus. One can enter or exit in open ended fund anytime.
Growth fund: Maximum benefit can be obtained by these funds. There is more rick in these funds due to high profit margin.
Value fund: These funds prefers security. It's aim is to secure invested money.
Equity Funds: Equity funds invest most of the money that they gather from investors into equity shares. These are high risk schemes and investors can also make losses, since most of the money is parked into shares. These types of schemes are suitable for investors with an appetite for risk. Read more articles on Equity Funds. 
Debt Funds: Debt funds invest most of their money into debt schemes including corporate debt, debt issued by banks, gilts and government securities. These types of funds are suitable for investors who are not willing to take risks. Returns are almost assured in these types of schemes. Read more articles about Debt funds 
Balanced funds: Balanced funds invest their money in equity as well as debt. They generally tend to skew the money more into equity then debt. The objective in the end is again to earn superior returns. Of course, they might alter their investment pattern based on market conditions. Read More articles on Balanced funds. 
Money Market Mutual Funds: Money market mutual funds are also called Liquid funds. They invest a bulk of their money in safer short-term instruments like Certificates of Deposit, Treasury and Commercial Paper. Most of the investment is for a smaller duration. 
Gilt Funds: Gilt Funds are perhaps the most secure instruments that are around. They invest bulk of their money in government securities. Since they have backing of the government they are considered the safest mutual fund units around.

Mutual fund in India
The mutual fund industry in India started in 1963 with the formation of Unit Trust of India (UTI) at the initiative of the Reserve Bank of India (RBI) and the Government of India. The objective then was to attract small investors and introduce them to market investments. Since then, the history of mutual funds in India can be broadly divided into six distinct phases.
Phase I (1964-87): Growth Of UTI:
In 1963, UTI was established by an Act of Parliament. As it was the only entity offering mutual funds in India, it had a monopoly. Operationally, UTI was set up by the Reserve Bank of India (RBI), but was later delinked from the RBI. The first scheme, and for long one of the largest launched by UTI, was Unit Scheme 1964.
Later in the 1970s and 80s, UTI started innovating and offering different schemes to suit the needs of different classes of investors. Unit Linked Insurance Plan (ULIP) was launched in 1971. The first Indian offshore fund, India Fund was launched in August 1986. In absolute terms, the investible funds corpus of UTI was about Rs 600 crores in 1984. By 1987-88, the assets under management (AUM) of UTI had grown 10 times to Rs 6,700 crores.
Phase II (1987-93): Entry of Public Sector Funds:
The year 1987 marked the entry of other public sector mutual funds. With the opening up of the economy, many public sector banks and institutions were allowed to establish mutual funds. The State Bank of India established the first non-UTI Mutual Fund, SBI Mutual Fund in November 1987. This was followed by Canbank Mutual Fund,LIC Mutual Fund, Indian Bank Mutual Fund, Bank of India Mutual Fund, GIC Mutual Fund and PNB Mutual Fund. From 1987-88 to 1992-93, the AUM increased from Rs 6,700 crores to Rs 47,004 crores, nearly seven times. During this period, investors showed a marked interest in mutual funds, allocating a larger part of their savings to investments in the funds.
Phase III (1993-96): Emergence of Private Funds:
A new era in the mutual fund industry began in 1993 with the permission granted for the entry of private sector funds. This gave the Indian investors a broader choice of 'fund families' and increasing competition to the existing public sector funds. Quite significantly foreign fund management companies were also allowed to operate mutual funds, most of them coming into India through their joint ventures with Indian promoters.
The private funds have brought in with them latest product innovations, investment management techniques and investor-servicing technologies. During the year 1993-94, five private sector fund houses launched their schemes followed by six others in 1994-95.
Phase IV (1996-99): Growth And SEBI Regulation:
Since 1996, the mutual fund industry scaled newer heights in terms of mobilization of funds and number of players. Deregulation and liberalization of the Indian economy had introduced competition and provided impetus to the growth of the industry.
A comprehensive set of regulations for all mutual funds operating in India was introduced with SEBI (Mutual Fund) Regulations, 1996. These regulations set uniform standards for all funds. Erstwhile UTI voluntarily adopted SEBI guidelines for its new schemes. Similarly, the budget of the Union government in 1999 took a big step in exempting all mutual fund dividends from income tax in the hands of the investors. During this phase, both SEBI and Association of Mutual Funds of India (AMFI) launched Investor Awareness Programme aimed at educating the investors about investing through MFs.
Phase V (1999-2004): Emergence of a Large and Uniform Industry:
The year 1999 marked the beginning of a new phase in the history of the mutual fund industry in India, a phase of significant growth in terms of both amount mobilized from investors and assets under management. In February 2003, the UTI Act was repealed. UTI no longer has a special legal status as a trust established by an act of Parliament. Instead it has adopted the same structure as any other fund in India - a trust and an AMC.
UTI Mutual Fund is the present name of the erstwhile Unit Trust of India (UTI). While UTI functioned under a separate law of the Indian Parliament earlier, UTI Mutual Fund is now under the SEBI's (Mutual Funds) Regulations, 1996 like all other mutual funds in India.
The emergence of a uniform industry with the same structure, operations and regulations make it easier for distributors and investors to deal with any fund house. Between 1999 and 2005 the size of the industry has doubled in terms of AUM which have gone from above Rs 68,000 crores to over Rs 1,50,000 crores.
Phase VI (From 2004 Onward): Consolidation and Growth:
The industry has lately witnessed a spate of mergers and acquisitions, most recent ones being the acquisition of schemes of Allianz Mutual Fund by Birla Sun Life, PNB Mutual Fund by Principal, among others. At the same time, more international players continue to enter India including Fidelity, one of the largest funds in the world.