10 PM Current Affairs Quiz : February 17, 2018

Banks which figure in D-SIBs list will be subjected to differentiated supervisory requirements and higher intensity of supervision based on the risks they pose to the financial system. As such large banks have the potential to disrupt the banking system, government intervention was considered necessary to ensure financial stability.

Domestic Systemically Important Bank are those banks which are – in domestic market – big in size and have the potential to disrupt the financial stability in case they fail. Therefore, every country was asked to identify such banks and put them under tight supervision. India has three such banks that figure in the list – SBI, ICICI and HDFC bank.

Both the statements are incorrect.

WSDS is flagship forum of The Energy and Resources Institute (TERI). It seeks to bring together global leaders and thinkers in the fields of sustainable development, energy and environment sectors on common platform.

The second edition (held in 2018) of WSDS builds on the success and legacy of the Delhi Sustainable Development Summit (DSDS) which was the leading forum for discussing sustainable development issues. The DSDS held under the aegis of the Ministry of Environment, Forest and Climate Change with support from the Ministry of External Affairs, Government of India was an epitome of Track 2 diplomacy.

With an aim of expanding the scope and reach of the Summit to the global community, DSDS transitioned to WSDS in 2016.

Scientists from The Rockefeller University in New York have reported discovery of a new class of antibiotics called malacidins. It has been produced by microorganisms living in soil and dirt and is capable of killing off several antibiotic-resistant pathogens.

Malacidins are distinctive class of antibiotics that are commonly encoded in soil microbiomes. They have never been reported in culture-based NP (Natural Products) discovery efforts.

Statement 1 is correct. During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).

In the Fortaleza Declaration, the leaders stressed that the NDB will strengthen cooperation among BRICS and will supplement the efforts of multilateral and regional financial institutions for global development, thus contributing to collective commitments for achieving the goal of strong, sustainable and balanced growth.

Statement 2 is incorrect. The New Development Bank’s Articles of Agreement specify that all members of the United Nations could be members of the bank, however the share of the BRICS nations can never be less than 55% of voting power.

None of the statements are incorrect.

The scheme for Eklavya Model Residential Schools (EMRS) is being implemented by the Ministry of Tribal Affairs, Government of India. Eklavya Model Residential Schools (EMRS) are set up in States/UTs with grants under Article 275(1) of the Constitution of India.

The objective of EMRS is to provide quality middle and high level education to Scheduled Tribe (ST) students in remote areas, not only to enable them to avail of reservation in high and professional educational courses and as jobs in government and public and private sectors but also to have access to the best opportunities in education at par with the non ST population. This would be achieved by:

1. Comprehensive physical, mental and socially relevant development of all students enrolled in each and every EMRS. Students will be empowered to be change agent, beginning in their school, in their homes, in their village and finally in a larger context.
2. Focus differentially on the educational support to be made available to those in Standards XI and XII, and those in standards VI to X, so that their distinctive needs can be met.
3. Support the annual running expenses in a manner that offers reasonable remuneration to the staff and upkeep of the facilities.
4. Support the construction of infrastructure that provides education, physical, environmental and cultural needs of student life.

Statements 2, 3 and 4 are correct.

Foreign direct investment (FDI) involves establishing a direct business interest in a foreign country, such as buying or establishing a manufacturing business.

Foreign portfolio investment (FPI) refers to investing in financial assets such as stocks or bonds in a foreign country.

FII is volatile by nature, while FDI is considered more stable.

Statement 1 is incorrect. TERI is a non-profit research institution that conducts research work in the fields of energy, environment and sustainable development.

Statement 2 is correct. TERI aims to focus on formulating local and national level strategies for shaping global solutions to critical issues. It was established in 1974 as Tata Energy Research Institute and was renamed The Energy and Resources Institute in 2003.

TERI was established in 1974 as an information centre on energy issues. However, over the following decades, it made a mark as a research institute, whose policy and technology solutions transformed people’s lives and the environment.