10 PM Current Affairs Quiz : November 13

Statement 1 is correct.This region potentially holds one of the most significant populations of fishing cats in the world

Statement 2 is incorrect . Krishna Wildlife Sanctuary is a wildlife sanctuary and estuary located in Andhra Pradesh.

Statement 1 is correct. Non-Banking financial companies are financial institutions that provide certain types of banking services, but do not hold a banking license.

Statement 2 is incorrect. These institutions are not allowed to take deposit from the public, which keeps them outside the scope of traditional oversight required under banking regulations.

Statement 3 is incorrect .The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 and directions issued by it.

Statement 1 is correct as an eligible individual can become a beneficiary and access the PDS system only if her Aadhaar number is correctly seeded onto the PDS database and added to the household ration card.

Statement 2 is correct as successful working of the PoS machine depends entirely on internet connectivity as verification of the ration card number and the beneficiary’s biometric fingerprint is carried out over the internet.

Statement 1 is incorrect as Hepatitis C is a liver disease caused by the hepatitis C virus: the virus can cause both acute and chronic hepatitis, ranging in severity from a mild illness lasting a few weeks to a serious, lifelong illness.

Statement 2 is correct as Hepatitis C can lead to conditions like liver cancer and cirrhosis, or scarring of the liver. This is one of the top reasons people get liver transplants.

Islamic banking is a banking system that is based on the principles of Islamic law, also referred to as Shariah law, and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest by lenders and investors. Collecting interest or “riga” is not permitted under Islamic law. Thus, statement 1 is correct.

In order to earn money without charging interest, Islamic banks use equity-participation systems. This means that if a bank loans money to a business, the business pays back the loan without interest, but it gives the bank a share in its profits. If the business defaults on the loan or does not earn any profits, the bank does not receive any profit either. Thus statement 2 is correct.

• The National Pension System (NPS) was initially designed for government employees only, it was opened up for all citizens of India in 2009.  Thus, statement 1 is incorrect.  
• A citizen of India, whether resident or non-resident can join NPS, subject to the following conditions:
• The subscriber should be between 18 and 65 years old as of the date of submission of his/her application to the Point of Presence (POP) / Point of Presence–Service Provider-Authorized branches of POP for NPS (POP-SP).
• The subscribers should comply with the Know Your Customer (KYC) norms as detailed in the subscriber registration form.
• Un-discharged insolvent and individuals of unsound mind cannot join NPS. Statement 2 is incorrect.
• The National Pension System (NPS) is a voluntary defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India.
• The NPS started with the decision of the Government of India to stop defined benefit pensions for all its employees who joined after 1 January 2004.

• The 12th edition of East Asia Summit (EAS) will be held in Angeles, Philippines on November 13–14, 2017. It is a unique Leaders-led forum of 18 countries of the Asia-Pacific region formed to further the objectives of regional peace, security and prosperity.
• The membership of EAS consists of ten ASEAN Member States (i.e. Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Singapore, Thailand, the Philippines and Vietnam), Australia, China, India, Japan, New Zealand, Republic of Korea, Russian Federation and the USA.