10 PM Current Affairs Quiz: April 4, 2020

National Pharmaceutical Pricing Authority (NPPA) was constituted vide Government of India Resolution dated 29th August, 1997 as an attached office of the Department of Pharmaceuticals (DoP), Ministry of Chemicals & Fertilizers as an independent Regulator for pricing of drugs and to ensure availability and accessibility of medicines at affordable prices.

In December 2010, the Basel Committee on Banking Supervision published Basel III: A global regulatory framework for more resilient banks and banking systems which presents the details of global regulatory standards on bank capital adequacy and liquidity, including a countercyclical capital buffer. The countercyclical capital buffer aims to ensure that banking sector capital requirements take account of the macro-financial environment in which banks operate. Its primary objective is to use a buffer of capital to achieve the broader macro-prudential goal of protecting the banking sector from periods of excess aggregate credit growth that have often been associated with the build-up of system-wide risk. Due to its countercyclical nature, the countercyclical capital buffer regime may also help to lean against the build-up phase of the credit cycle in the first place. In downturns, the regime should help to reduce the risk that the supply of credit will be constrained by regulatory capital requirements that could undermine the performance of the real economy and result in additional credit losses in the banking system.

The United States has deployed Patriot air defence missiles in Iraq. Patriot is a long-range, all-altitude, all-weather air defence system to counter tactical ballistic missiles, cruise missiles and advanced aircraft.

The Government of India today launched a mobile app developed in public-private partnership to bring the people of India together in a resolute fight against COVID-19.
The App, called ‘AarogyaSetu’ joins Digital India for the health and well-being of every Indian. It will enable people to assess themselves the risk for their catching the Corona Virus infection. It will calculate this based on their interaction with others, using cutting edge Bluetooth technology, algorithms and artificial intelligence. Once installed in a smart phone through an easy and user-friendly process, the app detects other devices with AarogyaSetu installed that come in the proximity of that phone. The app can then calculate the risk of infection based on sophisticated parameters if any of these contacts is tested positive.

The World Economic Forum has launched the Track and Trace Platform for Businesses. It is the first-ever Blockchain-based tracking platform which aims to assist businesses in addressing consumer demands for ethical and environmentally friendly products.

Statement 1 is incorrect. The District Council and the Regional Council are established in Tribal areas as given under the Sixth Schedule. They have power to make laws on various legislative subjects.

Statement 2 is incorrect. Tribal areas as per sixth schedule are in four states: Assam, Meghalaya, Mizoram and Tripura. Scheduled Areas as per fifth schedule spread over nine states.

Statement 1 is incorrect. National Security Act 1980 provides for legal enforcement of preventive detention.

Statement 2 is correct. The act empowers both center and state governments to detain a person before they commit a crime prejudicial to national security.

Statement 3 is correct. Under the act if the government is satisfied with respect to any foreigner that with a view to regulating his continued presence in India or with a view to making arrangements for his expulsion from India, they can be detained.

Statement 1 is incorrect. Power System Operation Corporation Limited (POSOCO) is a wholly owned Government of India Enterprise under the Ministry of Power. It was earlier a wholly owned subsidiary of Power Grid Corporation of India Limited (PGCIL).

Statement 2 is correct. POSOCO acts as the National Load Dispatch Center along with five regional Load Centers across the country.

Statement 1 is incorrect. ADB has 68 members—of which 49 are from within Asia and the Pacific and 19 outside.

Statement 2 is correct. India has received $43 billion cumulatively as of December 2018; $3 billion was received in 2019.

Statement 3 is incorrect. ADB is headquartered at Manila, Philippines,.

Statement 1 is incorrect. Central Pollution Control Board (CPCB) of India is a statutory organization under the Ministry of Environment, Forests and Climate Change established under the Water (Prevention and Control of Pollution) Act 1974.

Statement 2 is correct. It has been entrusted with responsibilities for planning various programs to control and prevent Air & Water pollution.

Statement 1 is incorrect. Indian Forest Act 1927 defines only “forest-produce”, Minor Forest Produce (MFP) is a subset of forest produce and got a definition only in 2007 when the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, was enacted.

Statement 2 is correct. The Act defines a Minor Forest Produce (MFP) as all non-timber forest produce of plant origin.

Statement 3 is correct. The definition of “minor forest produce” specifically includes bamboo and cane.

Statement 1 is correct. On violation of Visa rules or provision under the said act, the government is empowered to deport the person and detain them till deportation.

Statement 2 is correct. Under Section 9 of the act, the burden of proof lies with the individual.

Statement 1 is incorrect. It is released by the Ministry of Statistics & Programme Implementation.

Statement 2 is incorrect. The report mentions that eastern offshore has higher reserves of Natural Gas than Western Offshore.

Fundamental Duties, i.e. Article 51A (h) in The Constitution of India encourages people “to develop the scientific temper, humanism and the spirit of inquiry and reform”.

Statement 1 is incorrect. FPI holdings provide more liquidity than FDI. FPI includes investment in stocks, ADRs, GDRs, bonds, mutual funds, and exchange traded funds, therefore can be sold off easily.

Statement 2 is incorrect. Unlike FDI, FPI consists of passive ownership; investors have no control over ventures or direct ownership of property or a stake in a company or its assets.