10 PM Current Affairs Quiz #7 August 8, 2019

Explanation: The Bureau of Civil Aviation Security was initially set up as a Cell in the Directorate General of Civil Aviation (DGCA) in January 1978 on the recommendation of the Pande Committee constituted in the wake of the hijacking of the Indian Airlines flight on 10th September , 1976. The role of the Cell was to coordinate, monitor, inspect and train personnel in Civil Aviation Security matters.
The BCAS was reorganized into an independent department on 1stApril, 1987 under the Ministry of Civil Aviation as a sequel to the Kanishka Tragedy in June 1985. The main responsibility of BCAS are lay down standards and measures in respect of security of civil flights at International and domestic airports in India

Explanation: The Environmental and Social Framework (ESF) enables the World Bank and Borrowers to better manage environmental and social risks of projects and to improve development outcomes. It was launched on October 1, 2018.
The ESF offers broad and systematic coverage of environmental and social risks. It makes important advances in areas such as transparency, non-discrimination, public participation, and accountability-including expanded roles for grievance mechanisms. It brings the World Bank’s environmental and social protections into closer harmony with those of other development institutions.

Explanation: Govt. of India has taken up the Dam Rehabilitation and Improvement Project (DRIP) with the financial assistance of the World Bank for the repair and rehabilitation of initially about 225 dam projects across the seven states of India, namely Jharkhand (DVC), Karnataka, Kerala, Madhya Pradesh, Odisha, Tamil Nadu, and Uttarakhand (UJVNL). The number of dams has been finally revised to 198. Project was started in April 2012 and scheduled completion is June 2018. The total project cost is Rs.2100 Crore.

The objectives of DRIP are to improve the safety and operational performance of selected existing dams and associated appurtenances in a sustainable manner, and to strengthen the dam safety institutional setup of participating States / Implementing Agencies.

Explanation: The Pench Tiger Reserve and its neighborhood is the original setting of Rudyard Kipling’s most famous work, The Jungle Book. Kipling borrowed heavily from Robert Armitage Strendale’s books ‘Seonee’, ‘Mammalia of India and Ceylon’ and ‘Denizens of the Jungle’ for the topography, wildlife, and its ways. Mowgli was inspired by Sir William Henry Sleeman’s pamphlet, ‘An Account of Wolves Nurturing Children in Their Dens’ which describes a wolf-boy captured in Seoni district near the village of Sant Baori in 1831. Many of The Jungle Book’s locations are actual locations in Seoni District, like the Waingunga River with its gorge where Sherkhan was killed, Kanhiwara villlage and the ‘Seeonee hills’.

Explanation: When you borrow money from the bank, they charge an interest on the principal. Basically, it is cost of credit. Similarly, banks too can borrow money from RBI during cash crunch on which they must pay pay interest to the Central Bank. This interest rate is repo rate. Technically, Repo stands for ‘Repurchasing Option’. It is a contract in which banks provide eligible securities such as Treasury Bills to the RBI while availing overnight loans. An agreement to buy them back at a predetermined price will also be in place. So, this interest rate is levied on these kinds of repo transactions as well.
•Technically, Repo stands for ‘Repurchasing Option’. It is a contract in which banks provide eligible securities such as Treasury Bills to the RBI while availing overnight loans. An agreement to buy them back at a predetermined price will also be in place. So, this interest rate is levied on these kinds of repo transactions as well.
•On the other hand, when the RBI needs to pump funds into the system, it lowers repo rate. Consequentially, businesses and industries find it cheaper to borrow money for different investment purposes. It also increases the overall supply of money in the economy. This ultimately boosts the growth rate of the economy.