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Nepal adopts first democratic Constitution.
- On 20th September 2015 Nepal adopted its first democratic constitution , a historic step for a nation that has seen war , a palace massacre and devastating earthquakes since a campaign to create a modern state began more than 65 years ago.
- The constitution creates 7 states in a secular , federal system but was opposed by some groups who wanted to re-establish Nepal as a Hindu nation.
- Demonstrations were also present in the lowlands were present as people felt that the constitution was unfavourable to the Madhesi people living in the Terai near the Indian border.
- A crowd of over 2000 people cheered and took pictures of the constituent assembly building decked out in red and blue Nepali flags.
- Following 7 years of turmoil after monarchy was abolished in 2008 , the Himalayan country is finally looking forward to peace .
Federal reserve to keep US rates unchanged
- The rupee posted its biggest daily gain in 2 years while the Indian stock index climbed to a three week high due to the Federal reserve ‘s decision to keep interest rates unchanged.
- This may also pave the way for the RBI to reduce borrowing costs for a fourth time this year .
- Since 2008 , the US Federal reserve has kept its interest rates near zero.
- Concerns over the Chinese market crash led to speculation about the Fed’s interest rates.
Forex reserves go up by $2.35 billion in September
- After falling for two straight weeks , India ‘s foreign exchange reserves rose by $ 2.35 billion to $351.38 billion.
- The rise indicates that the RBI could be buying dollars from the market .
- RBI has been purchasing dollars from the open market after foreign currency outflows in August 2013 lead to the Rupee dropping to its lowest ever.
Centre hikes import duty on edible oil by 5%
- In a move to protect interest of farmers and domestic processors , the government hiked import duty on edible oil by 5%.
- India imported around 11.56 metric tonnes of edible oil in this fiscal year alone.
- About 60% of the imported oil comes from Malaysia and Indonesia.
- The Solvent Extractors Association hailed the move but stated that they only wanted the duty difference between crude and refined oil alone to increase so that value addition takes place in India.
Russia to help India develop technology to disinfect food products
- Russia is all set to help India develop technology to disinfect food commodities and sterilise medical products.
- Executives from Rusatom Overseas and the Indian company Gamma Tech (where the Russians have picked 51% shares ) inked an agreement to create a network of centres for radiation sterilisation in India.
- These centres will perform disinfection of food commodities and sterilisation of medical products with ionising radiation.
- The first two pilot centres are planned to be opened in Tamil Nadu.
- Radiation sterilisation is aimed at maximum reduction of pathogenic bacteria and viruses. It allows decontamination of food products such as fruit , vegetables , berries as well as fish and meat. It also increases the storage life of food products and prevents the sprouting of vegetables.
GK QUESTIONS OF THE DAY : Share them with people and test their knowledge.
1) Which is the largest stretch of sandy desert in the World ??
b)Rub al Khali
d) Atacama desert
2) What does karst mean ??
a)Landscape created by dissolution of limestone rocks in water
b)Landscape created by tectonic folding and faulting
c)Landscape created by changes in the atmosphere
d)None of the above
3)Which of the following are qualitative credit control measures of RBI
b) Priority sector lending
c) Bank rate
d) Repo rate
4) The ASEAN economic crisis of 1996 was caused by
a) collapse of Thai Baht after hot money outflow
b) Change in Federal Reserve ‘s rates
c) collapse of Thai Baht leading to economic contagion.
d) all of the above.
5)Chemotherapy used in treatment of cancer is nothing but
a) radiation therapy
b)curing by with chemical acids
c) curing using chemical bases
d) none of the above
6) India decided to purchase 2 AWACS from Israel. AWACS stand for
a)Airborne warning and assault control system
b)Airborne warning and aviation control system
c)Airborne warfare and assault control system
d) Airborne early warning and control system
7) Conversion of mechanical energy to Electrical energy is done by ___
8) Which of the following animals are not depicted in Ashoka ‘s lion statue at Sarnath
9) Akbar built the Din-i-illahi to hold
a)religious discourses between people of different faiths
b) discussions on affairs of state
d) His private chambers
10) Badshahi mosque in Lahore was built by
Answers 1 b , 2 a , 3b , 4d , 5a , 6d , 7a ,8d ,9a ,10a