We posted 7 questions in 10 PM Daily Quiz on 26nd April, 2016. Thanks for the amazing response. These questions will help you polish concepts based on current affairs. In case you have not attempted them, please attempt them by clicking below.
Q.1) Consider the following statements regarding Exchange rate
- Lower exchange rate will discourage Foreign Investment.
- Lower exchange rate will encourage exports, and thus good for foreign markets.
Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer-c
Explanation:- Refer article, Click here.
Q.2) Which of the following is not a “Singapore Issue”?
a) Trade and Investment
b) Competition Policy
c) Government Procurement
d) All of the above are “Singapore issues”.
Answer-d
Explanation:- Ministers from WTO member-countries decided at the 1996 Singapore Ministerial Conference to set up three new working groups: on trade and investment, on competition policy, and on transparency in government procurement. They also instructed the WTO Goods Council to look at possible ways of simplifying trade procedures, an issue sometimes known as “trade facilitation”. Because the Singapore conference kicked off work in these four subjects, they are sometimes called the “Singapore issues”.
Q.3) Consider the following statements regarding Non-Banking Financial Company (NBFC)
- It includes any institution whose principal business is that of agriculture activity.
- A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a NBFC.
- A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act.
Select the correct answer using the codes given below:
a) 1 and 2 only
b) 1 and 3 only
c) 2 and 3 only
d) 1, 2 and 3
Answer-c
Explanation:- What is a Non-Banking Financial Company (NBFC)?
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.
A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).
Q.4) Consider the following statements
- ‘Jan Aushadhi’ is a campaign launched by the Department of Pharmaceuticals in association with Central Pharma Public Sector Undertakings, to provide quality medicines at affordable prices to the masses.
- Generic medicines have less efficacy than their branded equivalent.
Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer-a
Explanation:- ‘Jan Aushadhi’ is a campaign launched by the Department of Pharmaceuticals in association with Central Pharma Public Sector Undertakings, to provide quality medicines at affordable prices to the masses. Jan Aushadhi stores have been set up to provide generic drugs, which are available at lesser prices but are equivalent in quality and efficacy as expensive branded drugs.
Generic medicines are unbranded medicines which are equally safe and having the same efficacy as that of branded medicines in terms of their therapeutic value. The prices of generic medicines are much cheaper than their branded equivalent.
Q.5) YK Alagh committee is related to which of the following?
a) Poverty estimation
b) Financial inclusion
c) Panchayati Raj
d) Generic medicines
Answer-a
Explanation:- Y K Alagh Committee
- Till 1979, the approach to estimate poverty was traditional i.e. lack of income.
- It was later decided to measure poverty precisely as starvation i.e. in terms of how much people eat.
- This approach was first of all adopted by the YK Alagh Committee’s recommendation in 1979 whereby, the people consuming less than 2100 calories in the urban areas or less than 2400 calories in the rural areas are poor.
- The logic behind the discrimination between rural and urban areas was that the rural people do more physical work. Moreover, an implicit assumption was that the states would take care of the health and education of the people.
- Thus, YK Alagh eventually defined the first poverty line in India.
Q.6) Consider following statements regarding Panchayati Raj
- It was constitutionalised by the 74th Constitutional Amendment Act of 1992
- April 25 is celebrated as National Panchayati Raj day
Select the correct answer using the codes given below
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer . D
Explanation
Panchayati Raj was constitutionalised by the 73th Constitutional Amendment Act of 1992
74th amendment act added PART IX-A to the constitution entitles as “THE MUNICIPALITIES”
April 24 is National Panchayati Raj day
Q.7) Consider the following statements regarding Department of Industrial Policy & Promotion
- Responsible for intellectual property rights relating to patents, designs only
- Responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector
- It is under the Ministry of Commerce and Industry
Select the correct answer using the codes given below
a) 1 and 2 only
b) 1 and 3 only
c) 2 and 3 only
d) 1, 2, 3
Answer . C
Explanation
Department of Industrial Policy and Promotion
Department of Industrial Policy & Promotion was established in the year 1995, and in the year 2000 Department of Industrial Development was merged with it. It is working under the Ministry of Commerce and Industry, Government of India.
DIPP responsibilities
- Formulation and implementation of promotional and developmental measures for growth of the industrial sector
- Also responsible for intellectual property rights relating to patents, designs, trademarks, and Geographical indication of goods and oversees the initiative relating to their promotion and protection.
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