10 PM Current Affairs Quiz : January 17, 2019

Statement 1 is correct-The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992.The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India as “…to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental there to.

SEBI has to be responsive to the needs of three groups, which constitute the market:

• issuers of securities
• investors
• market intermediaries

Statement 2 is Incorrect- The Securities and Exchange Board of India (SEBI) is examining whether investors in start-ups can be granted special rights in terms of board representations and governance if such ventures list on the Innovators Growth Platform (IGP).As part of its attempts to attract start-ups and investors to the platform, the capital markets regulator is examining whether investors, including those that have convertible instruments, could have special rights such as board representation and appointment of auditors or internal auditor, among other rights.

Statements 1 is Incorrect – ECB can be raised in Indian Rupees (INR) and / or any convertible currency. Any entity raising INR denominated ECB is not permitted to convert the liability arising out of this ECB into foreign currency liability in any manner or assuming foreign currency risk is any manner by either entering into a derivative contract or otherwise.

Statements 2 is Incorrect – In a bid to improve ease of doing business, the Reserve Bank of India has decided to liberalise external commercial borrowing (ECB) norms, allowing all companies that are eligible for receiving foreign direct investment, to raise funds through the ECB route.The list of eligible borrowers has been expanded. All entities eligible to receive foreign direct investment can borrow under the ECB framework. The new framework takes immediate effect as per RBI Statement.

It has now been decided, in consultation with the Government of India, to rationalise the extant framework for ECB and Rupee denominated bonds to further improve the ease of doing business, the RBI said.

Statements 3 is Incorrect -The RBI has decided to keep the minimum average maturity period at 3 years for all ECBs, irrespective of the amount of borrowing, except for borrowers specifically permitted to borrow for a shorter period. Earlier, the minimum average maturity period was five years. The ceiling for borrowing remains at $750 million.

Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing.

Statements 1 is correct – The United Nations (UN) has adopted a resolution granting the Asian Infrastructure Investment Bank (AIIB) permanent observer status.

The resolution was passed by UN member states at the Dec. 20, 2018 UN plenary meeting in recognition of AIIB close relevance and contribution to the UN’s development mandate. Upon the adoption of the resolution, AIIB will hold a standing invitation to participate in an observer capacity in the deliberations of both the General Assembly and the Economic and Social Council, the two most development-focused principal organs of the UN.

Statements 2 is incorrect –

On January 16, the Asian Infrastructure Investment Bank (AIIB) marked its third anniversary. India has been the bank’s biggest beneficiary, with a quarter of the AIIB’s approved projects geared towards its development. India is also the only country apart from China to enjoy a permanent seat on the Bank’s board of directors.

Statements 1 is Incorrect – Section 5 of COTPA (Cigarettes & Other Tobacco Products Act)2003 deals with  Prohibition of advertisement of cigarettes and other tobacco products.

Statements 2 is incorrect – Section 6 of COTPA (Cigarettes & Other Tobacco Products Act)2003 deals with Prohibition on sale of cigarette or other tobacco products to a person below the age of eighteen years and in particular area.

As per a recent report data  it shows that tobacco companies in India are systematically targeting children as young as eight by selling tobacco products and placing tobacco advertisements near schools.These tactics, happening all over the country, is a clear violation of Section 5 and 6 of Cigarettes & Other Tobacco Products Act

The Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) Act, 2003 or COTPA, 2003 is an Act of Parliament of India enacted in 2003 to prohibit advertisement of, and to provide for the regulation of trade and commerce in, and production, supply and distribution of cigarettes and other tobacco products in India.

Tobacco products cannot be sold to person below the age of 18 years, and in places within 100 metres radius from the outer boundary of an institution of education, which includes school colleges and institutions of higher learning established or recognized by an appropriate authority

Statements 1 is correct -The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India.

Statement 2 is correct-

The new regulatory framework by the Telecom Regulatory Authority of India (TRAI), which comes into effect from February 1, will apply to all direct-to-home (DTH) and local cable operators. Under these rules, customers can choose which channels they wish to watch rather than pick from pre-decided packs offered by service providers. Accordingly, consumers will only need to pay for channels they want to view

The new framework makes it mandatory for the service provider to offer every channel on an a la carte basis.

According to TRAI, post-digitisation of cable TV networks in March 2017, there was an urgent need to improve transparency as many stakeholders were not giving choices to consumers. The new regulatory framework has been introduced after a consultative process that lasted more than one-and-a-half years.

Additionally, the MRP of the channels needs to be displayed on the TV screen through the Electronic Program Guide. Along with giving customers a la carte choice, broadcasters and distributors can offer bouquets of channels.

Statement 1 is correct – The Sailesh Nayak Committee was formed to review the issues relating to Coastal regulation zone 2011.

Statement 2 is incorrect – CRZ I – It refers to the ecologically sensitive areas, essential in maintaining ecosystem of the coast. These lie between the HTL and LTL. Only exploration of natural gas and extraction of salt is permitted.

All the statements are correct

• The second momentous contribution of the Manipur law is that it does away with the requirement of prior state sanction before acting on a hate crime. All hate crimes today should attract Section 153A of the Indian Penal Code, which is related to fostering enmity between people on the basis of religion, race, language and so on.
• It clearly lays down the duty and responsibility of the State government to make arrangements for the protection of victims and witnesses against any kind of intimidation, coercion, inducement, violence or threats of violence.
• The law is requiring the state to formulate a scheme for relief camps and rehabilitation in case of displacement of victims, and death compensation.

Statement 1 is correct – (NSQF) is a competency-based framework that organizes all qualifications according to a series of levels of knowledge, skills and aptitude. These levels, graded from one to ten, are defined in terms of learning outcomes which the learner must possess regardless of whether they are obtained through formal, non-formal or informal learning.

Statement 2 is correct – NSQF will also facilitate Recognition of Prior Learning (RPL) that is largely lacking in the present education and training scenario. Additionally, it would help alignment of Indian qualifications to international qualifications.

Statements 1 and 2 are correct

The Commission recommended that the average adult, whose daily requirement is about 2,500 calories, must strive to source around 800 calories from whole grain (rice, wheat or corn), 204 calories from fruits and vegetables, and not more than 30 calories from red meat.

These global targets define a safe operating space for food systems that allow us to assess which diets and food production practices will help ensure that the UN Sustainable Development Goals (SDGs) and the Paris Agreement [on Climate Change] are achieved,

Statement 3 is incorrect:- It recommended to reduce consumption of red meat.

Different types of investors for Start Ups are:

Angel investors – Angel investors invest in small startups or entrepreneurs. Often, angel investors are among an entrepreneur’s family and friends. The capital angel investors provide may be a one-time investment to help the business propel or an ongoing injection of money to support and carry the company through its difficult early stages.

Peer-to-peer lenders – Peer-to-peer (P2P) lending is a method of debt financing that enables individuals to borrow and lend money without the use of an official financial institution as an intermediary.

Venture capitalists – A venture capitalist is an investor who either provides capital to startup ventures or supports small companies that wish to expand but do not have access to equities markets

Personal investors – a person who invests their own money