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10 PM Quiz: April 18, 2020
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- Question 1 of 15
1. Question
1 pointsWhich of the following is/are basis for establishing the “National Legal Services Authority (NALSA)”?
- Preamble.
- Fundamental rights.
- Directive Principles of State Policy.
Choose the correct code from below given options:
Correct
Towards fulfilling the Preambular promise of securing to all the citizens, Justice – social, economic and political, Article 39 A of the Constitution of India provides for free legal aid to the poor and weaker sections of the society, to promote justice on the basis of equal opportunity. Articles 14 and 22(1) of the Constitution also make it obligatory for the State to ensure equality before law. In 1987, the Legal Services Authorities Act was enacted by the Parliament, which came into force on 9th November, 1995 to establish a nationwide uniform network for providing free and competent legal services to the weaker sections of the society. The National Legal Services Authority (NALSA) has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society.
Incorrect
Towards fulfilling the Preambular promise of securing to all the citizens, Justice – social, economic and political, Article 39 A of the Constitution of India provides for free legal aid to the poor and weaker sections of the society, to promote justice on the basis of equal opportunity. Articles 14 and 22(1) of the Constitution also make it obligatory for the State to ensure equality before law. In 1987, the Legal Services Authorities Act was enacted by the Parliament, which came into force on 9th November, 1995 to establish a nationwide uniform network for providing free and competent legal services to the weaker sections of the society. The National Legal Services Authority (NALSA) has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society.
- Question 2 of 15
2. Question
1 points“Thrissur Pooram festival” is recently in news, is celebrated in which of the following state?
Correct
Thrissur Pooram also known as mother of all festivals is a seven day annual Hindu festival conducted in Kerala. But due to CoVID-19 pandemic festival has been cancelled for the first time. It was started in the 18th Century by Sakthan Thampuran, the Maharaja of erstwhile Kochi. During the festival, Paramekkavu Devi temple and Thiruvambadi Sri Krishna temple pay their obeisance to Lord Shiva, the presiding deity of the Vadakkunnathan temple at Thrissur.
Incorrect
Thrissur Pooram also known as mother of all festivals is a seven day annual Hindu festival conducted in Kerala. But due to CoVID-19 pandemic festival has been cancelled for the first time. It was started in the 18th Century by Sakthan Thampuran, the Maharaja of erstwhile Kochi. During the festival, Paramekkavu Devi temple and Thiruvambadi Sri Krishna temple pay their obeisance to Lord Shiva, the presiding deity of the Vadakkunnathan temple at Thrissur.
- Question 3 of 15
3. Question
1 pointsConsider the following statements with respect to “Russian Poplar trees”:
- It is endemic to Himalayas of Jammu & Kashmir.
- Due to their high yield, poplars are intensively used in the timber and construction industry.
Which of the following above statements is/are correct?
Correct
Statement 1 is incorrect: Russian Poplar trees were introduced in Kashmir in 1982 from the US under a World Bank-aided social forestry scheme.
Statement 2 is correct: The species takes less time (10-15 years) to grow as compared to the Kashmir poplar that takes 30-40 years. Due to their high yield, poplars are intensively used in the timber and construction industry.
Incorrect
Statement 1 is incorrect: Russian Poplar trees were introduced in Kashmir in 1982 from the US under a World Bank-aided social forestry scheme.
Statement 2 is correct: The species takes less time (10-15 years) to grow as compared to the Kashmir poplar that takes 30-40 years. Due to their high yield, poplars are intensively used in the timber and construction industry.
- Question 4 of 15
4. Question
1 points“Crisis Recovery Facility” is recently in news, is set up by which of the following?
Correct
Asian Infrastructure Investment Bank (AIIB) has set up a US$10 billion Crisis Recovery Facility in the wake of the Coronavirus pandemic. Its aim is to provide financing to both public and private sector entities within its members facing serious adverse impacts as a result of Coronavirus pandemic.
Incorrect
Asian Infrastructure Investment Bank (AIIB) has set up a US$10 billion Crisis Recovery Facility in the wake of the Coronavirus pandemic. Its aim is to provide financing to both public and private sector entities within its members facing serious adverse impacts as a result of Coronavirus pandemic.
- Question 5 of 15
5. Question
1 pointsConsider the following statements with respect to “Order Books, Inventories and Capacity Utilisation Survey (OBICUS)” of RBI:
- OBICUS provides an insight into the demands of the Indian manufacturing sector.
- It is conducted yearly twice.
Which of the following codes below given is/are correct?
Correct
Statement 1 is correct: OBICUS provides an insight into the demands of the Indian manufacturing sector. The information collected in the survey includes quantitative data on:
- new orders received during the reference quarter,
- backlog of orders,
- pending orders,
- total inventories with a breakup between work-in-progress (WiP) and finished goods (FG) inventories
- Item-wise production.
Statement 2 is incorrect: Survey is conducted quarterly (4 times in a year). The first survey was conducted in 2008.
Incorrect
Statement 1 is correct: OBICUS provides an insight into the demands of the Indian manufacturing sector. The information collected in the survey includes quantitative data on:
- new orders received during the reference quarter,
- backlog of orders,
- pending orders,
- total inventories with a breakup between work-in-progress (WiP) and finished goods (FG) inventories
- Item-wise production.
Statement 2 is incorrect: Survey is conducted quarterly (4 times in a year). The first survey was conducted in 2008.
- Question 6 of 15
6. Question
1 pointsIf RBI cuts the repo rate by 100 basis points; what does it infer?
- The Repo rate has been reduced by 0.10 percent.
- RBI intends to increase liquidity in the market.
Select the correct answer using code below;
Correct
Statement 1 is incorrect. Basis points (BPS) refer to a common unit of measure for interest rates and other percentages in finance. 100 basis points means 1 percentage point.
Statement 2 is correct. By reducing the repo rate, RBI makes it cheaper for banks to borrow money, which may increase the liquidity in the market.
Incorrect
Statement 1 is incorrect. Basis points (BPS) refer to a common unit of measure for interest rates and other percentages in finance. 100 basis points means 1 percentage point.
Statement 2 is correct. By reducing the repo rate, RBI makes it cheaper for banks to borrow money, which may increase the liquidity in the market.
- Question 7 of 15
7. Question
1 pointsConsider the following statements regarding Western disturbances;
- These are driven by the Easterlies.
- They originate in the Indian Ocean.
Which of the above statements is/are correct?
Correct
Statement 1 is incorrect. Western disturbances are driven by westerlies into Asian region.
Statement 2 is incorrect. Western disturbances originate in the Mediterranean region moving eastwards they bring rains to the north western part of India. It brings non-monsoonal rains which has great importance in agriculture particularly for Rabi crops.
Incorrect
Statement 1 is incorrect. Western disturbances are driven by westerlies into Asian region.
Statement 2 is incorrect. Western disturbances originate in the Mediterranean region moving eastwards they bring rains to the north western part of India. It brings non-monsoonal rains which has great importance in agriculture particularly for Rabi crops.
- Question 8 of 15
8. Question
1 pointsConsider the following statements regarding Tenth Schedule of constitution;
- It is applicable to the members of the Legislative Council as well.
- Bar on jurisdiction of courts was declared null and void in I.R. Coelho case.
Which of the above statements is/are correct?
Correct
Statement 1 is correct. The schedule says “House means either House of Parliament or the Legislative Assembly or, as the case may be, either House of the Legislature of a State”.
Statement 2 is incorrect. The bar on jurisdiction of courts was declared unconstitutional in Kihotohollohan Vs. Zachillhu and others (1992) case. In the IR Coelho case the Supreme Court upheld the authority of the judiciary to review any law, which destroys or damages the basic structure as indicated in fundamental rights, even if they have been put in 9th schedule.
Incorrect
Statement 1 is correct. The schedule says “House means either House of Parliament or the Legislative Assembly or, as the case may be, either House of the Legislature of a State”.
Statement 2 is incorrect. The bar on jurisdiction of courts was declared unconstitutional in Kihotohollohan Vs. Zachillhu and others (1992) case. In the IR Coelho case the Supreme Court upheld the authority of the judiciary to review any law, which destroys or damages the basic structure as indicated in fundamental rights, even if they have been put in 9th schedule.
- Question 9 of 15
9. Question
1 pointsConsider the following statements regarding Reverse Repo Rate;
- Banks earn interest equal to Reverse Repo rate on lending to RBI.
- It is a part of the Liquidity Adjustment Facility.
Which of the above statements is/are correct?
Correct
Statement 1 is correct. The interest rate at which the RBI borrows money from banks for the short term is called the Reverse repo rate. The banks also voluntarily park excess funds with the central bank as it provides them with an opportunity to earn higher interest on surplus money lying idle.
Statement 2 is correct. A liquidity adjustment facility (LAF) is a tool that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements
Incorrect
Statement 1 is correct. The interest rate at which the RBI borrows money from banks for the short term is called the Reverse repo rate. The banks also voluntarily park excess funds with the central bank as it provides them with an opportunity to earn higher interest on surplus money lying idle.
Statement 2 is correct. A liquidity adjustment facility (LAF) is a tool that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements
- Question 10 of 15
10. Question
1 points‘Lazy Banking’ has been in the news recently, what does it mean?
Correct
Both statements are correct. Lending to the government is assumed to be the safest form for banks. When banks find no profitable option to lend in the market and try to avert any risk, they invest the money in government securities. This is referred to as Lazy banking.
Incorrect
Both statements are correct. Lending to the government is assumed to be the safest form for banks. When banks find no profitable option to lend in the market and try to avert any risk, they invest the money in government securities. This is referred to as Lazy banking.
- Question 11 of 15
11. Question
1 pointsWhat is “Trimeresurussalazar” that has been in news recently;
Correct
A new species of pit viper, Trimeresurus Salazar has been discovered in Arunachal Pradesh.
Incorrect
A new species of pit viper, Trimeresurus Salazar has been discovered in Arunachal Pradesh.
- Question 12 of 15
12. Question
1 pointsWhich of the following are regulated by RBI?
- Export Import Bank of India (EXIM Bank)
- National Bank for Agriculture and Rural Development (NABARD)
- National Housing Bank (NHB)
Select the correct answer using code below;
Correct
Four all India financial institutions (AIFIs) are under the Reserve Bank’s full-fledged regulation and supervision viz. the Export Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB) and Small Industries Development Bank of India (SIDBI).
Incorrect
Four all India financial institutions (AIFIs) are under the Reserve Bank’s full-fledged regulation and supervision viz. the Export Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB) and Small Industries Development Bank of India (SIDBI).
- Question 13 of 15
13. Question
1 pointsWhich of the following correctly defines the term ‘Comorbidity’?
Correct
Comorbidity refers to the presence of more than one disorder/disease/illness in the same person. It has been in the news for the reason that people having comorbidity related to the respiratory system are more vulnerable to COVID-19 disease.
Incorrect
Comorbidity refers to the presence of more than one disorder/disease/illness in the same person. It has been in the news for the reason that people having comorbidity related to the respiratory system are more vulnerable to COVID-19 disease.
- Question 14 of 15
14. Question
1 pointsConsider the following statements regarding Fixed Drug Combinations;
- It is given as single dosage to patients.
- FDCs are used to treat patients with multiple conditions only.
Which of the above statements is/are correct?
Correct
Statement 1 is correct. Fixed drug combination is a medicine that includes two or more active ingredients combined in a single dosage form.
Statement 2 is incorrect. Fixed-dose combination drug products were initially developed to target a single disease (such as with antiretroviral FDCs used against AIDS). FDCs can also be used to target multiple conditions; such conditions might often be related.
Incorrect
Statement 1 is correct. Fixed drug combination is a medicine that includes two or more active ingredients combined in a single dosage form.
Statement 2 is incorrect. Fixed-dose combination drug products were initially developed to target a single disease (such as with antiretroviral FDCs used against AIDS). FDCs can also be used to target multiple conditions; such conditions might often be related.
- Question 15 of 15
15. Question
1 pointsConsider the following statements regarding Long-term repo operations (LTRO) by RBI;
- RBI uses it to remove the excess liquidity from the banking system.
- Maturity period is much higher than usual Repo operations.
Which of the above statements is/are correct?
Correct
Statement 1 is incorrect. RBI is trying to provide liquidity in the banking system by providing loans to banks at relatively low interest rate for long term.
Statement 2 is correct. Repo operations are short term (intra-day to 15 days), but under LTRO, RBI is injecting Rs 1 lakh crore into the banking system through auctions with long term maturity periods of 1 year and 3 year at repo rate.
Incorrect
Statement 1 is incorrect. RBI is trying to provide liquidity in the banking system by providing loans to banks at relatively low interest rate for long term.
Statement 2 is correct. Repo operations are short term (intra-day to 15 days), but under LTRO, RBI is injecting Rs 1 lakh crore into the banking system through auctions with long term maturity periods of 1 year and 3 year at repo rate.
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