25 August 2015 Current Affairs

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1) Major financial markets of the world, including India, witnessed a hugedecline on 24 August 2015. The BSE Sensex closed the day at 25,741.56,down 1,624.51 points. The overall investors wealth, measured in terms of

total valuation of all listed stocks, also plunged nearly by Rs. 7 lakh crore. What was the main reason for his sharp fall? Slowing Chinese economy and the devalued Chinese currency Yuan

Explanation: The woes associated with Chinese economy hit the global financial markets. Global markets crashed on 24August following weeks of reports regarding Chinas low economic growth as its consumption story further faltered.This was in addition to other irritants such as Europes woes and a general slowdown in economies across the globe. InIndian capital markets, the loss suffered by the 10 biggest companies in terms of market capitalisation was itself close toRs. 2 lakh crore. This fall was the biggest since 21 January 2008 when the Sensex crashed by 2,062.2 points. On theother hand Indian rupee went down to 66.49, plunging a whopping 66 paise, which was their lowest level in nearly twoyears.

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2) The birth centenary celebration of Rani Gaidinliu was inaugurated by Prime

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2) The birth centenary celebration of Rani Gaidinliu was inaugurated by PrimeMinister Narendra Modi on 24 August 2015. On this occasion a commemorativecoin was released to recall Ranis contribution to Indias freedom struggle. RaniGaidinliu was associated with which India state? Nagaland

Explanation: Rani Gaidinliu (1915-1993) was a prominent political leader ofNagaland who led a famous revolt against the British. She was part of the Heraka religious movement that ultimatelyturned into a political movement seeking to drive out the British from Manipur and the surrounding Naga regions. Shewas arrested by the British in 1932 at the age of 17 and remained in various prisons till her release in 1947 after IndiasIndependence. An advocate of the ancestral Naga religious practices, she staunchly resisted the conversion of Nagas toChristianity. She died on 17 February 1993 at the age of 78. Because of the Heraka movements hostility towardsChristianity, Gaidinlius heroics were not acknowledged highly among the Nagas, most of who had converted toChristianity by the 1960s.

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3) Union Govt. on 24 August 2015 divested 10% of its stake in which public sector undertaking? Indian Oil Corporation

Explanation: The governments 10% stake sale in Indian Oil Corporation on 24 August wasover-subscribed despite high market turmoil. The stake sale received bids for over 28.74 croreshares, representing 1.18 times the 24.28 crore shares on offer. At the floor price of Rs. 387

apiece, the sale of 24.28 crore shares would fetch about Rs. 9,300 crore to the exchequer, after considering 5% discountbeing offered to retail shareholders. This was the biggest disinvestment of this fiscal, which was however shunned by theretail investors who picked up less than one-fifth of the quota. The IOC share sale is the fourth disinvestment this fiscalbut the biggest in 2015-16 so far. The government has already raised over Rs. 3,300 crore through stake sales in threePSUs (Rural Electrification Corporation (Rs. 1,610), Power Finance Corporation (Rs. 1,600 crore) and DredgingCorporation of India (Rs. 145 crore) this fiscal. The government is targeting to raise Rs. 69,500 crore from disinvestmentin the current fiscal.

4) What is the name of the express train of the Indian Railway that met with a freak accident in the early hours of 24August 2015 when a truck carrying a granite boulder rammed into it killing six people? Bangalore-Nanded Express

Explanation: Nanded (Karnataka) bound Bangalore-Nanded express train met with a freak accident in the early hours of24 August near Madakasira village of Anantpur district in Andhra Pradesh when a truck carrying a granite boulder,weighing several tonnes, rammed into the train after its brakes failed. The 6 dead included Venkatesh Naik, thelegislator from Devadurga Assembly constituency of Raichur district in Karnataka, who was travelling to hisconstituency from Bengaluru by the train.

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5) Which state would host the worlds largest 750 Mega Watts (MW) solar power stationas announced on 23 August 2015? Madhya Pradesh

Explanation: Madhya Pradeshs Energy Minister Rajendra Shukla on 23 Augustannounced that the worlds largest solar power station of 750 Mega Watts (MW)capacity will be established in states Rewa district. The state govt. will soon invite global

tenders for commissioning the solar power station to be spread over 1,500 hectares area at Bandwar region in Gudhtehsil of Rewa district. The plant is expected to start generating solar energy by March 2017. The project, named RewaUltra Mega Solar, will be a joint venture of Solar Energy Corporation of India and MP Urja Vikas Nigam, wherein bothparties have 50% stake. At present, worlds largest solar power project Ivanpah Solar Power Facility of 392 MW, is at



parties have 50% stake. At present, worlds largest solar power project Ivanpah Solar Power Facility of 392 MW, is atMojave Deserts in California, United States.

6) What is the name of the cyclonic storm that battered Japan on 24 August 2015 with wind speeds of over 250 km/ hr.after large-scale destruction in the Philippines? Goni

Explanation: Typhoon Goni lashed the southern Japanese islands of Okinawa with heavy rains and winds on 24 August.Goni had earlier killed least 15 people and others missing in the northern Philippines. Goni is the ninth of about 20storms and typhoons that are expected to batter the Philippines this year. Typhoon Haiyan, one of the most ferociousstorms on record to hit land, devastated large areas of the central Philippines in November 2013, leaving more than7,300 people dead or missing.

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