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We are posting today’s 10pm Current Affairs Quiz
Daily Quiz: Apr 9 2021
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- Question 1 of 8
1. Question
1 pointsCategory: current affairsConsider the following statements regarding Tribunals in India.
- Tribunals are part of the Constitution since the enactment of Constitution
- Article 323A and 323B provides for two types of tribunals. Namely, Administrative Tribunals and Tribunals for other matters.
Which of the statement(s) given above is/are correct?
Correct
The Tribunal is a quasi-judicial institution. They were set up to deal with problems such as resolving administrative or tax-related disputes.
Initially, Tribunals were not a part of the Constitution. Swaran Singh Committee recommended including Tribunals as a part of the Constitution.
Based on that, the Forty-second Amendment Act, 1976 provided constitutional status to Tribunals. Tribunals are placed under Part XIV-A. This part has only two articles:
- Article 323-A deals with Administrative Tribunals. These tribunals resolve disputes related to the recruitment and service conditions of persons engaged in public service.
- Article 323-B deals with tribunals for other matters. These tribunals resolve disputes related to Taxation, Foreign exchange, Industrial and labour, Land reforms, import and export, Food, Ceiling on urban property, etc.
Incorrect
The Tribunal is a quasi-judicial institution. They were set up to deal with problems such as resolving administrative or tax-related disputes.
Initially, Tribunals were not a part of the Constitution. Swaran Singh Committee recommended including Tribunals as a part of the Constitution.
Based on that, the Forty-second Amendment Act, 1976 provided constitutional status to Tribunals. Tribunals are placed under Part XIV-A. This part has only two articles:
- Article 323-A deals with Administrative Tribunals. These tribunals resolve disputes related to the recruitment and service conditions of persons engaged in public service.
- Article 323-B deals with tribunals for other matters. These tribunals resolve disputes related to Taxation, Foreign exchange, Industrial and labour, Land reforms, import and export, Food, Ceiling on urban property, etc.
- Question 2 of 8
2. Question
1 pointsCategory: current affairsConsider the following statements regarding Priority Sector lending (PSL)
- Foreign banks are exempted from PSL targets
- Bank lending to NBFCs is not considered as PSL by RBI
Select the correct answer using the code given below:
Correct
- Priority Sector lending (PSL): It means those sectors which the Government and RBI consider as important for the development of the basic needs of the country and are to be given priority over other sectors. The banks are mandated to encourage the growth of such sectors with adequate and timely credit.
- Under this, Commercial banks including foreign banks are required to mandatorily earmark 40% of the adjusted net bank credit for priority sector lending. (Statement 1 is incorrect.)
- Regional rural banks and small finance banks will have to allocate 75% of adjusted net bank credit to PSL.
Categories: a) Agriculture b) Micro, Small and Medium Enterprises c) Export Credit d) Education e) Housing f) Social Infrastructure g) Renewable Energy and h) Others
Recently RBI released a Statement on Developmental and Regulatory Policies. Under the new RBI policy, Bank lending to NBFCs (other than microfinance institutions) for the sectors that contribute significantly to the economy in terms of export and employment. This will continue as priority sector lending(PSL) till September 30, 2021. (Statement 2 is incorrect.)
Incorrect
- Priority Sector lending (PSL): It means those sectors which the Government and RBI consider as important for the development of the basic needs of the country and are to be given priority over other sectors. The banks are mandated to encourage the growth of such sectors with adequate and timely credit.
- Under this, Commercial banks including foreign banks are required to mandatorily earmark 40% of the adjusted net bank credit for priority sector lending. (Statement 1 is incorrect.)
- Regional rural banks and small finance banks will have to allocate 75% of adjusted net bank credit to PSL.
Categories: a) Agriculture b) Micro, Small and Medium Enterprises c) Export Credit d) Education e) Housing f) Social Infrastructure g) Renewable Energy and h) Others
Recently RBI released a Statement on Developmental and Regulatory Policies. Under the new RBI policy, Bank lending to NBFCs (other than microfinance institutions) for the sectors that contribute significantly to the economy in terms of export and employment. This will continue as priority sector lending(PSL) till September 30, 2021. (Statement 2 is incorrect.)
- Question 3 of 8
3. Question
1 pointsCategory: current affairsConsider the following statements regarding Mahendragiri Hill
- Mahendratanaya River originates from this hill.
- This hill was declared a biosphere reserve.
Answer using the codes given below
Correct
Statement 1 is correct. Mahendragiri hill has many water streams and the origin of the Mahendratanaya River.
Statement 2 is incorrect. Odisha government has moved a proposal to declare is as a biosphere reserve. Also, Similipal Biosphere Reserve was Odisha’s first such reserve and was notified in 1996.
Read more – “Mahendragiri Biosphere Reserve”
Incorrect
Statement 1 is correct. Mahendragiri hill has many water streams and the origin of the Mahendratanaya River.
Statement 2 is incorrect. Odisha government has moved a proposal to declare is as a biosphere reserve. Also, Similipal Biosphere Reserve was Odisha’s first such reserve and was notified in 1996.
Read more – “Mahendragiri Biosphere Reserve”
- Question 4 of 8
4. Question
1 pointsCategory: current affairsWhich one of the following statements best describes the term ‘Pre-Pack Insolvency Resolution’?
Correct
- IBC Amendment Ordinance 2021 amends the Insolvency and Bankruptcy Code, 2016.
- The Amendment allows the use of Pre-Packaged insolvency resolution as an alternative resolution mechanism for MSMEs. The threshold limit to trigger the Pre-Packaged insolvency resolution is between Rs 10 lakh to 1 Crore.
- A pre-pack resolution is a form of restructuring that allows creditors and debtors to work on an informal plan and then submit it for approval.
- Under this system, financial creditors will agree to the terms of a potential investor. Further, they will seek approval of the resolution plan from the National Company Law Tribunal (NCLT).
Read more – IBC Amendment Ordinance 2021
Incorrect
- IBC Amendment Ordinance 2021 amends the Insolvency and Bankruptcy Code, 2016.
- The Amendment allows the use of Pre-Packaged insolvency resolution as an alternative resolution mechanism for MSMEs. The threshold limit to trigger the Pre-Packaged insolvency resolution is between Rs 10 lakh to 1 Crore.
- A pre-pack resolution is a form of restructuring that allows creditors and debtors to work on an informal plan and then submit it for approval.
- Under this system, financial creditors will agree to the terms of a potential investor. Further, they will seek approval of the resolution plan from the National Company Law Tribunal (NCLT).
Read more – IBC Amendment Ordinance 2021
- Question 5 of 8
5. Question
1 pointsCategory: current affairsAn oxygen enrichment unit device concentrates the oxygen from the air around by selectively removing which of the following gases?
Correct
An oxygen enrichment unit is a device, which concentrates the oxygen from the air around by selectively removing nitrogen to supply an oxygen-enriched air.
Read More – “Oxygen Enrichment Unit”
Incorrect
An oxygen enrichment unit is a device, which concentrates the oxygen from the air around by selectively removing nitrogen to supply an oxygen-enriched air.
Read More – “Oxygen Enrichment Unit”
- Question 6 of 8
6. Question
1 pointsCategory: current affairsConsider the following statements
- India’s largest freshwater lake is in Himachal Pradesh.
- India’s Largest brackish water lake is in Odisha.
Select the correct answer using the codes given below.
Correct
Statement 1 is incorrect. The largest freshwater lake in India is Wular Lake. Wular Lake is the largest lake in India. In fact, it is one of the largest freshwater lakes in Asia. It is situated in Jammu and Kashmir.
Statement 2 is correct. Chilika is one of India’s largest brackish water coastal lakes. Located south of the mouth of the Mahanadi River in unspoilt Orissa, this lake was once a bay of the ocean until it was silted up by monsoon tides.
Incorrect
Statement 1 is incorrect. The largest freshwater lake in India is Wular Lake. Wular Lake is the largest lake in India. In fact, it is one of the largest freshwater lakes in Asia. It is situated in Jammu and Kashmir.
Statement 2 is correct. Chilika is one of India’s largest brackish water coastal lakes. Located south of the mouth of the Mahanadi River in unspoilt Orissa, this lake was once a bay of the ocean until it was silted up by monsoon tides.
- Question 7 of 8
7. Question
1 pointsCategory: current affairsIn which one of the following states, government has not notified tracts for Opium cultivation?
Correct
The NDPS Act empowers the Central Government to permit and regulate cultivation of opium poppy for medical and scientific purposes. The Government of India notifies the tracts where opium cultivation can be licensed as well as the General Conditions for issuance of license every year. These notifications are commonly referred to as Opium Policies. Opium cultivation is permitted in the notified tracts in the states of Madhya Pradesh, Rajasthan and Uttar Pradesh.
Incorrect
The NDPS Act empowers the Central Government to permit and regulate cultivation of opium poppy for medical and scientific purposes. The Government of India notifies the tracts where opium cultivation can be licensed as well as the General Conditions for issuance of license every year. These notifications are commonly referred to as Opium Policies. Opium cultivation is permitted in the notified tracts in the states of Madhya Pradesh, Rajasthan and Uttar Pradesh.
- Question 8 of 8
8. Question
1 pointsCategory: current affairsWhich of the following statements best describes the aim of Copyright (Amendment) Rules, 2021;
Correct
The Government of India has notified Copyright (Amendment) Rules, 2021 . In India, the copyright regime is governed by the Copyright Act, 1957 and the Copyright Rules, 2013. The Copyright Rules, 2013 were last amended in the year 2016.
It aims to ensure smooth and flawless compliance in the light of the technological advancement in digital era by adopting electronic means as primary mode of communication and working in the Copyright Office
Incorrect
The Government of India has notified Copyright (Amendment) Rules, 2021 . In India, the copyright regime is governed by the Copyright Act, 1957 and the Copyright Rules, 2013. The Copyright Rules, 2013 were last amended in the year 2016.
It aims to ensure smooth and flawless compliance in the light of the technological advancement in digital era by adopting electronic means as primary mode of communication and working in the Copyright Office