10 PM Current Affairs Quiz : April 13, 2019

Central Electricity Regulatory Commission (CERC) is a key regulator of power sector in India.It is a statutory body functioning with quasi-judicial status under the Electricity Act,2003.

The functions of CERC includes (a)regulation of tariff of generating companies owned by the Government (b)regulation of the tariff of other generating companies having a composite scheme for generation and sale of electricity in more than one State and regulation of inter-State transmission of electricity.

Odisha government has come up with a support scheme whose primary targets are small farmers, cultivators and landless agricultural labourers, called KALIA (Krushak Assistance for Livelihood and Income Augmentation). The scheme involves payments to encourage cultivation and associated activities mainly to accelerate agricultural prosperity and to reduce poverty.

The Economist Intelligence Unit (EIU) has released the Democracy Index which ranks 167 countries by 60 indicators across five broad categories. The categories considered for the index are electoral process and pluralism, the functioning of government, political participation, democratic political culture and civil liberties. The index classifies each country either as a full democracy, flawed democracy, hybrid regime or authoritarian.

There are several provident fund accounts available in India

Employee Provident Fund Account – Available for organised sector employee and the account is mandatory for a certain salary class employed with the government. Employees working with private companies are not eligible for the account.

Public Provident Fund Account – It is a savings cum tax savings account offered in India. The account holder should deposit a minimum of Rs.500 is in order to open and maintain PPF account and the maximum that can be deposited is Rs.1.5 lakh

Non-Resident Indians and Hindu Undivided Family individuals are not eligible for a PPF account.

General Provident Fund Account – GPF is available only for government employees while PPF is available for the self-employed and other income sectors of the society

GPF is managed by the Department of Pension and Pensioners Welfare under the Ministry of Personnel, Public Grievances and Pensions.

The National Medicinal Plants Board (NMPB) has been established by Government of India to coordinate with all matters relating to Medicinal Plants and Support Policies and Programs for growth of trade, export, conservation and cultivation. The board is working under Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha & Homeopathy (AYUSH).

These are issued by Scheduled Commercial banks upon authorization from the Central Government to intending donors, but only against cheque and digital payments (it cannot be purchased by paying cash). The Bonds shall be issued in the denomination of Rs. 1,000, Rs. 10,000, Rs. 1 lac, Rs. 10 lacs and Rs. 1 crore from specified branches of SBI