21 May Current Affairs

1)For the first time, administration will be standstill in Andhra Pradesh for about a week from 25 May to 1 June 2014, during whicha ‘Zero Week’ would be observed in the state. Why is this ‘Zero Week’ being observed? –To facilitate the formation of two states of Andhra Pradesh (Seemandhra) and Telangana on 2 June 2014(There would be no transactions of any kind at the State secretariat and there would be neither clearance of bills nor any administrative decisions across the State. The salaries of the state-government employees in both the regions would be paid on 24 May itself. In the secretariat, employees will be shifting to their respective blocks allotted for the two States. On 2 June 2, the two separate administrations will swing into action)…………………………………………..2)The Reserve Bank of India (RBI) on 21 May 2014 eased gold import norms which were imposed during July 2013. This was done following representations from jewellers, bullion dealers, banks, and trade bodies. What’s themain provision announced under this? –Select trading houses, in addition to already permitted banks, have been allowed to import gold(The RBI in July lastyear had imposed severe restrictions on gold imports in order to check the burgeoning current account deficit and sliding rupee. Now Star trading houses/premier trading houses (STH/PTH) have been allowed to import gold under 20:80 gold import scheme)…………………………………………..3)Chief Minister of which North-Eastern state of India is on the way to become the longest serving Chief Minister in the country? –Pawan Kumar Chamling, the Chief Minister of Sikkim (Chamling-led Sikkim Democratic Front (SDF) won a record mandate in the assembly elections, results for which were announced on 16 May 2014. SDF won 22 out of total 32 assembly seats in the state. Pawan Kumar Chamling has been state’s Chief Minister since 12 December 1994. He has won his fifth consecutive term and would surpass Jyoti Basu’s record of 23 years as Chief Minister of West Bengal if he completes his term. He was administered the oath of office on 21 May2014 for his fifth term)…………………………………………..4)Who was sworn in as the new Chief Minister of Bihar on 20 May 2014? –Jitan Ram Manjhi(Manjhi was chosen as the successor of Nitish Kumar as he had resigned from his post on 17 May 2014 owning moral responsibility of his party Janata Dal (United)’s debacle in theLok Sabha Elections. JD(U) had won just 2 seats from a total of 40 seats in the state. The combine led by BJP had won 32 seats)…………………………………………..5)Who was selected as the new Chief Minister of Gujarat on 21 May 2014 as Prime Minister (designate) Narendra Modi resigned as state’sChief Minister? –Anandiben Patel(Anandiben Patel is presently Revenue Minister of Gujarat and will replace Narendra Modi, who takes over asIndia’s new Prime Minister on 26 May. Shewould thus become the first woman Chief Minister of Gujarat. Anandiben was first elected as an MLA from Mandal constituency in Ahmedabad district in 1998)…………………………………………..6)In an important development Russia and China on 21 May 2014 signed a 30-year gas deal in which China would purchase natural gas of Russia. What is the total estimated value of this huge deal? –$400 billion(Under the deal Russia’ Gazprom will supply 38 billion cubic metres of gas annually to China National Petroleum Corp. The deal was signed on the occasion of Russian President Vladimir Putin’s two-daystate visit to China)…………………………………………..7)The RBI on 21 May 2014 permitted banks to give exporters long-term export advance up to a maximum period of 10 years. This would be subject to exporters with a minimum of three years satisfactory track record. Banks were currently allowed to provide loans to exporters for what duration of time? –One year