10 PM Current Affairs Quiz #25 November 29, 2019

Explanation: Cartosat-3 satellite is a third generation agile advanced earth imaging satellite. It has been developed by Indian Space Research Organization. It will replace the Indian Remote Sensing Satellite (IRS) series. Cartosat-3 has a panchromatic resolution of 0.25 metres making it the imaging satellite with highest resolution. Cartosat-3 aims to address the increased demands for large scale urban planning, rural resource and infrastructure development, coastal land use and land cover.

Explanation: Food Corporation of India is a statutory body constituted under the Food Corporations Act, 1964, to implement the food policy of Government of India. The primary purpose of Food Corporation of India (FCI) includes the purchase, storage, movement, transport, distribution and sale of food grains and other foodstuff.
Objectives:
•To ensure Minimum Support Price to farmers
•To maintain buffer stocks of food grains and distribution of food grains under National Food Security Act (2013) and other welfare schemes of Govt. of India.
•To intervene in market for price stabilization

Explanation: CEFPPC scheme was launched by the Ministry of Food Processing Industries in 2017. It is a sub-scheme of Pradhan Mantri Kisan Sampada Yojana (PMKSY). The main objective of the Scheme is creation of processing and preservation capacities and modernization / expansion of existing food processing units. It seeks to do so to increase the level of processing, value addition and reduce wastage. The scheme envisages financial assistance to food processing units in the form of grant-in-aid (maximum Rs. 5 crore).

Explanation: The Reserve Bank has said that it has put in place a revised framework on currency swap arrangement for SAARC countries for 2019-2022. A currency swap between countries is an agreement to exchange currencies with predetermined terms and conditions. The countries engage in currency swaps with foreign counterparts to meet short term foreign exchange liquidity requirements or to ensure adequate foreign currency to avoid Balance of Payments (BOP) crisis till longer arrangements can be made.

Explanation: Automotive Mission Plan (AMP) 2016-2026 is the collective vision of the Government of India and Indian Automotive Industry. The plan is a follow up to the AMP (2006-16) which has been successful in making India not only an automobile producing hub but also a designing and development hub. The plan provides vision on where vehicles, auto components and tractor industry should reach over the next 10 years in terms of size, contribution to India’s GDP and global footprint in technology, competitiveness and capabilities. It aims at bringing the Indian Automotive Industry among the top three of the world in engineering, manufacture and exports of vehicles & components; growing in value to over 12% of India’s GDP and generating an additional 65 million jobs.