10 PM Current Affairs Quiz: July 25, 2020

Central government has recently notified the Consumer Protection (E-Commerce) Rules, 2020 under the Consumer Protection Act, 2019.

Salient features of the rules:

-it covers all models of e-commerce, including marketplace and inventory models of e-commerce.

-no e-commerce entity shall manipulate the price of the goods or services offered on its platform in such a manner as to gain unreasonable profit.

-any seller offering goods or services through a marketplace e-commerce entity shall provide all relevant details about the goods and services offered for sale by the seller including country of origin to the e-commerce entity to be displayed on its platform or website.

-no inventory e-commerce entity shall falsely represent itself as a consumer and post reviews about goods and services or misrepresent the quality or the features of any goods or services.

-every marketplace e-commerce entity shall provide information relating to return, refund, exchange, warranty and guarantee, delivery and shipment, modes of payment, and grievance redressal mechanism on its platform.

All of the above are provided for by the Constitution.

Some of the important privileges of each House of Parliament and of its members and Committee are:

–Freedom of speech in Parliament [Article 105(1)];

–Immunity to a member from any proceedings in any court in respect of anything said or any vote given by him in Parliament or any Committees thereof [Article 105(2)];

–Prohibition on the courts to inquire into proceedings of Parliament (Article 122).

The Financial Stability Reports are published by Reserve Bank of India, after approved by FSDC SubCommittee by taking inputs from financial sector regulators i.e. RBI, SEBI, PFRDA, IRDAI including Ministry of Finance.

These are periodic exercise for reviewing the nature, magnitude and implications of risks that may have a bearing on the macroeconomic environment, financial institutions, markets and infrastructure.

The FSR July 2020 highlights:

The capital to risk-weighted assets ratio (CRAR) of Scheduled Commercial Banks (SCBs) edged down to 14.8 per cent in March 2020 from 15.0 per cent in September 2019.

Their gross non-performing asset (GNPA) ratio declined to 8.5 per cent from 9.3 per cent.

Macro stress tests for credit risk indicate that the GNPA ratio of all SCBs may increase from 8.5 per cent in March 2020 to 12.5 per cent by March 2021 under the baseline scenario; the ratio may escalate to 14.7 per cent under a very severely stressed scenario.

Statement 1 is incorrect. The vaccine development is not the principle objective of the program. The programme will connect Indian, and Russian Science & Technology (S&T) led SMEs and Start-ups for joint R&D for technology development and for cross-country technology adaptation.

The programme will run through two annual cycles with up to five projects to be funded under each cycle. Projects are being sought on leading S&T focus areas, including but not limited to, IT & ICT, Medicine, Renewable Energy, Aerospace, Environment, Biotechnologies, Robotics and Drones.

Statement 2 is correct. The Department of Science and Technology has launched the India-Russia Joint Technology Assessment and Accelerated Commercialization Programme in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Foundation for Assistance to Small Innovative Enterprises (FASIE) of the Russian Federation.

Over a period of two years, the Department of Science and Technology will fund up to INR 15 Crores to ten Indian SMEs/Start-ups and FASIE will provide similar funding to the Russian projects.

Both statements are correct.

T cells are a type of white blood cell and are of key importance to the immune system. These cells are made in the bone marrow and develop/mature in the Thymus and are programmed to be specific for one particular foreign particle (antigen).

Once they leave the thymus, they circulate throughout the body until they recognize their antigen on the surface of antigen presenting cells (APCs).

There are two types of T-cells in your body: Helper T-cells and Killer T-cells. Killer T-cells do the work of destroying the infected cells. The Helper T-cells coordinate the attack.

T cells are also known as T lymphocytes. The ‘T’ stands for ‘thymus’, the organ in which these cells mature. As opposed to B cells which mature in the bone marrow.

Russia, Iran and India are the founding members of the International North-South Transport Corridor (INSTC). Other important member states include Azerbaijan, Armenia, Kazakhstan and Belarus. China is not a member.

International North-South Transport Corridor (INSTC) is a multi-modal transportation that connects India Ocean and Persian Gulf to the Caspian Sea via IRAN, then is connected to St. Petersburg and North European via Russian Federation.

Both statements are correct.

In a Presidential system of government, the President, who is the chief executive as well as the symbolic head of government, is chosen by a separate popular election from that of the legislature. The President then appoints his or her cabinet of ministers/secretaries.

Ministers/Secretaries usually are not simultaneously members of the legislature, although their appointment may require the advice and consent of the legislative branch.

In parliamentary systems, the executive’s term of office is directly linked with that of the legislature, while in presidential systems the terms are not linked neither are they subject to mutual confidence.

Both statements are correct.

The Spike(S) protein is a highly glycosylated transmembrane fusion protein that is made up of amino acids. The presence of S proteins on the coronaviruses is what gives rise to the spike-shaped protrusions found on their surface.

S protein plays a crucial role in penetrating host cells and initiating infection. The cell entry programs for these viruses are orchestrated by the viral spike (S) proteins that bind cellular receptors and also mediate virus-cell membrane fusions.

In addition to its role in penetrating cells, the S protein is the main antigenic component that is responsible for inducing host immune responses, neutralizing antibodies and/or protective immunity against virus infection.

Spike protein has therefore been selected as an important target for many coronavirus vaccine and anti-viral developments.

Statement 1 is correct. As per section 6(2) under the Tenth schedule all proceedings under in relation to any question as to disqualification of a member of a House under this Schedule shall be deemed to be proceedings in Parliament within the meaning of article 122 or, as the case may be, proceedings in the Legislature of a State within the meaning of article 212.

Article 122 and 212 prohibits the courts to inquire into proceedings of Parliament/State Assembly.

Statement 2 is correct. The Chairman or the Speaker of a House may make rules for giving effect to the provisions of the Schedule which may provide for the procedure for any inquiry which may be made for the purpose of deciding as to whether a member of a House has become subject to disqualification under this Schedule.

Operation Legend is a federal law enforcement operation in the United States of America initiated by its Federal Government. The operation is named after four-year-old LeGend Taliferro, who was shot and killed in Kansas City, Missouri, on June 29, 2020.

The program involves deploying federal law enforcement agents to assist local police in combating a surge of violent crimes.

The Operation Legend program involves federal agents from the FBI, U.S. Marshals Service and other agencies, partnering with local law enforcement.