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Current Affairs for IAS Prelims Exam 2017: 17 April 2017

Apr 17, 2017 11:11 IST

    current affairs 17 April 2017

    Current affairs and issues on the economic and political structure of the nation form the central part of the IAS exam. In IAS prelims exam preparation, MCQs and questions based on current affairs should be given priority. Hence, to clear IAS prelims exam, a good analysis of the latest current affairs is needed.

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    We will continue to provide the current affairs questions for IAS Prelims 2017 to help you gain a better insight of how questions can be asked in the examination.

    1. Consider the following statements regarding the term, ”Anchor investors” which is often seen in news:

    1) Anchor investors are institutional investors that are invited to subscribe for shares ahead of the IPO.

    2) This is basically to boost the popularity of the issue and provide confidence to potential IPO investors.

    3) Anchor investors can sell their shares anytime after the date of allotment.

    Which of the above statements is true?

    a. Only 1
    b. 1 and 2
    c. 1 and 3
    d. 1, 2 and 3

    Answer: b

    Explanation:

    Recently, Investment bankers want the Securities and Exchange Board of India (SEBI) to allow anchor investors in public issues of small and medium enterprises (SMEs) while also enhancing the upper limit for paid-up capital of such companies to allow relatively larger firms to enter the capital market while ensuring institutional investor participation in the dedicated segment.

    Anchor investors or cornerstone investors are marquee institutional investors like sovereign wealth funds, mutual funds and pension funds that are invited to subscribe for shares ahead of the IPO to boost the popularity of the issue and provide confidence to potential IPO investors.

    The benefit for institutional investors applying in anchor quota is that they get guaranteed allotment. Allotment to investors applying in an IPO depends on the number of times the issue gets subscribed.

    Anchor investors, however, cannot sell their shares for a period of 30 days from the date of allotment as against IPO investors who are allowed to sell on listing day.

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    2. The Government of India has decided to felicitate the 16 families associated with the Paika rebellion of 1857 against British colonialism. Consider the following statements regarding the Paika rebellion:

    1) Paika rebellion took place when the British East India company wrested the rent-free land that had been given to the Paiks for their military service to the Kingdom of Khurda.

    2) Bakshi Jagabandhu Bidyadhar led his army of Paikas forcing the British East India Company forces to retreat.

    3) It projected Lord Jagannath as the symbol of Odia unity.

    Which of the above statements is true?

    a. Only 1
    b. 1 and 2
    c. 1 and 3
    d. 1, 2 and 3

    Answer: d

    Explanation:

    The Paik Rebellion was an armed rebellion against the British East India Company's rule in Odisha in 1817. The Paiks rose in rebellion under their leader Bakshi Jagabandhu and they projected Lord Jagannath as the symbol of Odia unity.

    When the British started tinkering with the revenue system in 1803, the farming community of Odisha rose in rebellion. Bakshi Jagabandhu Bidyadhar who was the military chief of the King of Khurda led his motley army of Paikas and forced the British East India Company forces to retreat.

    The rebellion predates the first war of independence in 1857 but did not get similar recognition. It took place when the British East India company wrested the rent-free land that had been given to the Paiks for their military service to the Kingdom of Khurda.

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    3. Sagarmatha Friendship-2017 is a joint military exercise between which two countries?

    a. India and China
    b. Nepal and China
    c. Bhutan and Nepal
    d. Bhutan and China

    Answer: b

    Explanation:

    Sagarmatha Friendship 2017 is first of its kind joint exercise between the armies of Nepal and China which will be focusing on tactics of counterinsurgency and counter-terrorism.

    The joint exercise aimed at promoting military relations and enhancing interoperability between Nepali and Chinese Special Forces at functional level by placing emphasis on counter terrorism tactics, techniques and procedures.

    The joint training will prove to be a great platform to learn and share each other’s knowledge and experiences. The cooperation between Chinese People’s Liberation Army and Nepal Army in dealing with the threat of terrorism serves the common interest of both countries.

    4. Recently, the Second National Lok Adalat for 2017 was held throughout the country from taluk level courts to High Courts which have historically settled nearly 6.6 lakh cases. Consider the following statements regarding the Lok Adalats:

    1) Lok Adalats have been given statutory status under the Legal Services Authorities Act, 1987.

    2) The decision made by the Lok Adalat is deemed to be a decree of a high court and no appeal against such an award lies before any court of law.

    Which of the above statements is true?

    a. Only 1
    b. Only 2
    c. Both 1 and 2
    d. Neither 1 nor 2

    Answer: b

    Explanation:

    National Legal Services Authority (NALSA) along with other Legal Services Institutions conducts Lok Adalats. Lok Adalat is one of the alternative dispute redressal mechanisms, it is a forum where disputes/cases pending in the court of law or at the pre-litigation stage are settled/ compromised amicably.

    Lok Adalats have been given statutory status under the Legal Services Authorities Act, 1987. Under the said Act, the award (decision) made by the Lok Adalat is deemed to be a decree of a civil court and is final and binding on all parties and no appeal against such an award lies before any court of law.

    The persons deciding the cases in the Lok Adalats are called the Members of the Lok Adalats, they have the role of statutory conciliators only and do not have any judicial role.

    5. Consider the following statements regarding the Deendayal Antodaya Yojana:

    1) Deendayal Antodaya Yojana is an important rural poverty alleviation program.

    2) It is implemented by the Ministry of Housing and Urban Poverty Alleviation with the support of State Governments.

    Which of the above statements is true?

    a. Only 1

    b. Only 2

    c. Both 1 and 2

    d. Neither 1 nor 2

    Answer: a

    Explanation:

    Deendayal Antodaya Yojana – National Rural Livelihoods Mission is an important rural poverty alleviation program implemented by the Ministry of Rural Development with the support of State Governments. The women from rural poor households are provided financial assistance, in addition, facilitating access to bank loans for undertaking livelihoods activities.

    The Ministry of Rural Development held a national consultation with SHG women of all States and UTs on transforming lives through livelihoods thrust and Strategy for Poverty Free Gram Panchayats. The event also marked the inauguration of a 10 day Aajeevika Mela that is being organised to promote exhibition and sale of products produced by SHGs from different parts of the country.

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    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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