Daily Quiz: UPSC Prelims Marathon – November 6, 2018

Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. The measures aim to strengthen the regulation, supervision and risk management of banks.

Like all Basel Committee standards, Basel III standards are minimum requirements which apply to internationally active banks. Members are committed to implementing and applying standards in their jurisdictions within the time frame established by the Committee.

Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries (also known as preference giving countries or donor countries) to developing countries (also known as preference receiving countries or beneficiary countries). It involves reduced MFN Tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of donor countries.

Schengen Area, signifies a zone where 26 European countries, abolished their internal borders, for the free and unrestricted movement of people, in harmony with common rules for controlling external borders and fighting criminality by strengthening the common judicial system and police cooperation.

Schengen Area covers most of the EU countries, except the UK, Ireland and the countries that are soon to be part of: Romania, Bulgaria, Croatia and Cyprus. Although not members of the EU, countries like: Norway, Iceland, Switzerland and Lichtenstein are also part of the Schengen zone.

Statement 1 is Correct. The Ministry of Railways initiated the action to establish a Special Purpose Vehicle for construction, operation and maintenance of the dedicated freight corridors. This led to the establishment of “Dedicated Freight Corridor Corporation of India Limited (DFCC)”, to undertake planning & development, mobilization of financial resources and construction, maintenance and operation of the dedicated freight corridors. DFCC was incorporated as a company under the Companies Act 1956 on 30th October 2006.

Statement 2 is Correct. The MIssion of the Dedicated Freight Corridor Corporation of India (DFCCIL) is:

• To build a corridor with appropriate technology that enables Indian railways to regain its market share of freight transport by creating additional capacity and guaranteeing efficient, reliable, safe and cheaper options for mobility to its customers.
• To set up Multimodal logistic parks along the DFC to provide complete transport solution to customers.
• To support the government’s initiatives toward ecological sustainability by encouraging users to adopt railways as the most environment friendly mode for their transport requirements.

As per the Reserve Bank of India’s latest data, Mauritius topped as the source of foreign direct investment (FDI) into India in 2017-18, followed by Singapore.

Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) has two components

1. a) Setting up new AIIMS
2. b) Up gradation of government medical colleges.

Statement 2 is correct Providing free essential Drug and diagnostics Services is a component of Ayushman Bharat

Statement 1 is correct. Masala Bonds’ are Indian rupee denominated bonds issued in offshore capital markets which issued to offshore investors settled in dollars and, therefore, the currency risk resides with investors. It is used to refer to rupee-denominated borrowings by Indian entities in overseas markets. IFC named it Masala bonds to give a local flavour by calling to mind Indian culture and cuisine. Moreover, there are popular bonds name are there in the list Dim-Sum Bond of China and Samurai Bonds of Japan, Yankee of USA and the bulldog of UK.

Statement 2 is correct. Masala bond can be traded on London Stock Exchange, but not in India.

Statement 3 is incorrect. First Masala Bond was issued by International Finance Corporation (IFC) in 2013.