14 September 2018 Current Affairs

PM-AASHA | Maruti Suzuki | Gurgaon plant | Goldman Sachs | Beetle car |

Posted on Sep 14, 2018 08:20 IST in Current Affairs.

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1) What is the name of the new umbrella scheme announced by the Union Government on 12 September 2018 which aims to provide minimum support price (MSP) assurance to farmers? - ‘Pradhan Mantri Annadata Aay Sanrakshan Abhiyan’ (PM-AASHA)

Explanation: ‘Pradhan Mantri Annadata Aay SanraksHan Abhiyan’ (PM-AASHA) is the name of the new scheme announced by the Union Government on 12 September 2018. This scheme has been designed to ensure that farmers get remunerative prices for their produce as announced in the General Budget earlier this year.

- The new scheme has three components- Price Support Scheme (PSS), Price Deficiency Payment Scheme (PDPS), and Pilot of Private Procurement & Stockist Scheme (PPPS). It will be officially launched later.

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2) India’s leading automobile company Maruti Suzuki has planned to relocate which of its 35-year old Maruti Suzuki India Limited (MSIL) Chairman R.C. Bhargava has stated has stated that relocation car manufacturing plant to a less inhabited are due to congestion and environmental problems? – Gurugram

Explanation: of Maruti Suzuki’s plant in Gurugram (Gurgaon) to a less inhabited area is inevitable. 35-year old Gurgaon plant was the company's first manufacturing facility and has a capacity to make about 700,000 cars every year.

- The relocation of this plant will be done in a phased manner as it accounts for over one-third of the company’s total production capacity. This plant is now located in the middle of the city. Besides Gurugram, the country’s largest car maker has another manufacturing unit in Haryana, at Manesar with a capacity of 800,000 units.

- More than 4,000 trucks enter and leave the company’s two plants in Haryana every day. The two plants receive raw materials and components from the 2,500 vendors in more than 3,400 trucks daily and send out 650 trailers loaded with cars every day. That obviously means a lot of congestion and traffic hassles for the residents.

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3) Who was named next President of Goldman Sachs Group Inc. on 13 September 2018? - John Waldron

Explanation: Incoming CEO David Solomon named John Waldron on 13 September 2018 to be Goldman Sachs Group Inc.’s next President and Chief Operating Officer (COO). The post of President and COO is the second-most-powerful position in the financial behemoth.

- In the process, Solomon abandoned Goldman Sachs’s long-cherished practice of letting top performers split such weighty roles. Waldron, who runs investment banking, will assume the new post on 1 October 2018.

- Within the bank, Waldron was widely seen as the frontrunner to become president, a post often shared between two executives. He and Solomon are known to be close after climbing together through the investment-banking division.

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4) German automobile giant Volkswagen AG is ending production of which of its iconic car from 2019, as was decided by the company during September 2018? – Beetle

Explanation: Volkswagen is ending production of its Beetle in 2019, closing the door on one of the world's most iconic car designs. As per the announcement made by the company on 13 September 2018, the company will stop production of the car at its plant in Mexico next July after production of celebration models.

- The Beetle has its roots in Nazi Germany with the creation of a "people's car", but went on to star in a series of successful Disney films as a vehicle called Herbie. But sales, particularly in the key US market, have fallen in recent years.

- The Beetle was originally designed in the 1930s by legendary engineer Ferdinand Porsche - a name now synonymous with fast cars - at the behest of Adolf Hitler, who wanted to see a cheap and practical mass-produced car made available to the German people. Production began to take off in the late 1940s, and by 1955 a million of the cars were driving on German roads.

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