10 PM Current Affairs Quiz: March 7, 2020

The Reserve Bank of India (RBI) superseded the board of Yes Bank and imposed a month-long moratorium, it said in an announcement late on Thursday. It expects to arrive at a credible restructuring plan in the next few days. Depositors will be restricted to a maximum withdrawal of Rs 50,000 even if they have multiple accounts, a government gazette notification said. RBI will relax the withdrawal limit in the event of medical emergencies, higher education fees or marriage expenses — up to a cap of Rs 5 lakh.

Black carbon results from the incomplete combustion of fossil fuels and biomass. The fine particles absorb light and about a million times more energy than carbon dioxide. It is said to be the second largest contributor to climate change after CO2. But unlike CO2, which can stay in the atmosphere for years together, black carbon is short-lived and remains in the atmosphere only for days to weeks before it descends as rain or snow.

Greece has reinforced its sea and land borders to stop migrant are crossing over from Turkey to reach Greek Island of Lesbos. Lesbos is a Greek island located in the northeastern Aegean Sea. It is the third largest island in Greece. It is separated from Turkey by the narrow Mytilini Strait. The island is largely volcanic in the west.

Freedom in the World is Freedom House’s flagship annual report, assessing the condition of political rights and civil liberties around the world. It is composed of numerical ratings and supporting descriptive texts for 195 countries and 15 territories. Freedom in the World has been published since 1973, allowing Freedom House to track global trends in freedom over more than 40 years. It has become the most widely read and cited report of its kind, used on a regular basis by policymakers, journalists, academics, activists, and many others.

National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems.