10 PM Current Affairs Quiz: November 25, 2020

Statement 1 is correct. Entry 32 in the Seventh Schedule’s State List mentions ‘Incorporation, regulation and winding up of corporations, other than those specified in List I, and universities; unincorporated trading, literary, scientific, religious and other societies and associations; cooperative societies.’
Statement 2 is incorrect. In 1965, certain provisions of the Banking Regulation Act, 1949 (BR Act) were made applicable to co-operative banks. This gave Reserve Bank of India (RBI) some powers to regulate co-operative banks.
RBI regulated state co-operative banks, district (central) co-operative banks and primary co-operative banks (also called urban co-operative banks).
The Banking Regulation (Amendment) Act, 2020 amended the Act to further expand RBI’s regulatory control over co-operative banks in terms of management, capital, audit and liquidation.

A negative bond yield is when an investor receives less money at the bond’s maturity than the original purchase price for the bond.
A negative bond yield is an unusual situation in which issuers of debt are paid to borrow. In other words, the depositors, or buyers of bonds, are effectively paying the bond issuer a net amount at maturity instead of earning a return through interest income.
Negative-yield bonds attract investments during times of stress and uncertainty as investors look to protect their capital from significant erosion.
These are generally issued by central banks or governments, and investors pay interest to the borrower to keep their money with them.

The Raghuram Rajan Committee on Financial Sector Reforms was a committee constituted by the Government of India in 2007 for proposing the next generation of financial sector reforms in India.
An Internal Working Group of the Reserve Bank of India (RBI) has recently recommended that corporate houses be given bank licenses. The Raghuram Rajan committee had said that it is premature to allow industrial houses to own banks.

India and Bhutan are among 13 tiger range countries working towards TX2 (doubling the number of tigers in four years against a target of 10 years), a goal that the World Wildlife Fund (WWF) had set through the Global Tiger Initiative, Global Tiger Forum and other critical platforms.
The award recognises a site that has achieved excellence in two or more of five themes: Tiger and prey population monitoring and research (tiger translocation/prey augmentation); effective site management; enhanced law enforcement, protection and ranger welfare improvement; community-based conservation, benefits and human-wildlife conflict mitigation and habitat and prey management.
Transboundary Manas Conservation Area or TraMCA comprising the 500 sq. km. Manas National Park in Assam and the 1,057-sq. km. Royal Manas National Park in Bhutan have won the award.
The Pilibhit Tiger Reserve in Uttar Pradesh also won the TX2 award for doubling its population of wild tigers since 2010.

Pangda Village is news for being recently populated by Chinese settlements on disputed territory on China-Bhutan border.
The area is east of the India-Bhutan-China trijunction on the Doklam plateau, which was the site of a 72-day stand-off in 2017.
Authorities in Yadong county of Southwest China’s Tibet Autonomous Region have confirmed that 27 households with 124 people voluntarily moved from Shangdui village of Duina prefecture of Yadong county to Pangda village in September 2020.

Option 1 is incorrectly matched. Super Cyclonic Storm Amphan was a powerful and catastrophic tropical cyclone in Bay of Bengal that caused widespread damage in Eastern India, specifically West Bengal, and also Bangladesh in May 2020.
Option 2 is correctly matched. The India Meteorological Department (IMD) has forecast the development of a cyclone in the Southwest region of the Bay of Bengal, off Tamil Nadu coast.
The Met department has said that it will strengthen into a cyclone. Once intensified, it would acquire its name ‘Nivar’, proposed by Iran.

Statement 1 is incorrect. Mercury is the planet closest to the Sun. Shukrayaan is a proposed mission to Venus (second closest planet).
Statement 2 is incorrect. The Indian Space Research Organisation (ISRO) has short-listed 20 space-based experiment proposals, including from France, for its proposed Venus orbiter mission ‘Shukrayaan’ to study the planet for more than four years.
ISRO was earlier eyeing June, 2023 that has now been delayed due to pandemic, future launch opportunity is either in 2024 or 2026. The optimal launch window, when Venus is closest to the Earth comes about every 19 months.

Statement 1 is incorrect. Constitution Day also known as ‘Samvidhan Divas’ is celebrated in our country on 26th November every year to commemorate the adoption of the Constitution of India.
On 26th November 1949, the Constituent Assembly of India adopted the Constitution of India, which came into effect from 26th January 1950.
Statement 2 is correct. Preamble states that “WE, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC and to secure to all its citizens:
JUSTICE, social, economic and political; LIBERTY of thought, expression, belief, faith and worship;
EQUALITY of status and of opportunity;
and to promote among them all FRATERNITY assuring the dignity of the individual and the unity and integrity of the Nation;
IN OUR CONSTITUENT ASSEMBLY this twenty-sixth day of November, 1949, do HEREBY ADOPT, ENACT AND GIVE TO OURSELVES THIS CONSTITUTION”.

Both statements are correct.
Lachit Borphukan was an army general from Assam, India. He is remembered for his extraordinary victory against the Mughal army of Aurangzeb headed by Ram Singh in the Battle of Saraighat (fought in 1671 between the Mughals and the Ahom Kingdom on the Brahmaputra river at Saraighat, now in Guwahati).
In this battle the weaker, the Ahom Army defeated the Mughal Army by brilliant uses of the terrain, clever diplomatic negotiations to buy time, guerrilla tactics, psychological warfare, military intelligence and by exploiting the sole weakness of the Mughal forces—its navy.
His father, Momai Tamuli Borbarua was the ‘Governor’ of the kingdom and also ‘Commander-in-Chief’ of Ahom army under King Pratap Singha during his reign starting from 1603 to 1639.
Lachit received military training from an early age and joined the Ahom King Jayadhvaj Singha (1648-1663) as a scarf-bearer. The post ‘scarf-bearer’ or ‘Soladhara Barua’ is considered as a part of the incumbent king’s personal staff.
In August 1667, Chakradhvaj Singha appointed Lachit Borphukan as the Commander-in-Chief of Ahom kingdom.

Ministry of Electronics and Information Technology recently issued an order under section 69A of the Information Technology Act blocking access to 43 mobile apps.
This action was taken based on the inputs regarding these apps for engaging in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order.
The order for blocking the access of these apps by users in India is based on the comprehensive reports received from Indian Cyber Crime Coordination Center, Ministry of Home Affairs.
Earlier on 29th June, 2020 the Government of India had blocked access to 59 mobile apps and on 2nd September, 2020 118 more apps were banned under section 69A of the Information Technology Act.