We posted 6 questions in 10 PM Daily Quiz on 28 June, 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) Recently a referendum was held to put to vote the question of unconditional income in which of the following country?
a) UK
b) Finland
c) Norway
d) Switzerland
Answer-d
Explanation:– In Switzerland, a proposal for adults to be paid an unconditional monthly income, whether they worked or not, was up for a vote.
- It was defeated by a big margin – 77 opposed the plan, with only 23 per cent backing it.
Q.2) Which of the following country is called as land of thousand lakes?
a) Norway
b) Sweden
c) Finland
d) Poland
Answer-c
Explanation:- Finland is often referred to as “the land of the thousand lakes. This is because the lakes and rivers account for around 10 percent of the country’s land. Expansive forests cover most of Finland, making forestry a top-producing industry, with only 6 percent of the country considered arable.
Q.3) Consider the following statements regarding Regional Connectivity Scheme (RCS)
- Under RCS, the airlines will connect to small towns with flights of about 1 hour capped at Rs 2500.
- The ratio between centre to state of viability gap funding (VGF) will be 70:30
Select the correct answer using the codes given below:
a) 1only
b) 2 only
c) Both are correct
d) Neither is true
Answer-a
Explanation:-
What is Regional Connectivity Scheme (RCS)?
- Under RCS, the airlines will connect to small towns with flights of about 1 hour capped at Rs 2500.
- The centre will compensate for the losses by subsidising the airlines flying on regional routes so that they can charge Rs 2500 to passengers for one hour flight. This is also known as viability gap funding (VGF).
- The ratio between centre to state of this VGF will be 80:20
Q.4) Consider the following statements regarding monetary policy committee
- The formation of the monetary policy committee was mooted by the Urjit Patel committee.
- In MPC, 3 members will be from RBI. These 3 members would include the governor who will also be the ex-officio chairperson of the committee.
Select the correct answer using the codes given below:
a) 1only
b) 2 only
c) Both are correct
d) Neither is true
Answer-c
Explanation:-
What is Monetary Policy Committee?
- The formation of the monetary policy committee was mooted by the Urjit Patel committee.
- The committee suggested that monetary policy be rule-based and not discretion-based. The final decision on monetary policy should not lie with the RBI governor alone but on a group of people.
- Targeting inflation is to be the core objective of the central bank, and it will be answerable to law-makers if it failed to achieve the target.
Composition of MPC
MPC will be a 6 member committee:
- 3 members will be from RBI. These 3 members would include the governor who will also be the ex-officio chairperson of the committee.
- 3 members will be appointed by the central govt. . These members should be experts in the field of finance or banking or economics or monetary policy. They will have a tenure of 4 years and will not be eligible for reappointment.
- The members appointed by the govt. be will be appointed based on the recommendations by the search-cum-selection committee which will be headed by the cabinet secretary.
Q.5) Panama Canal expansion project is also called as|
a) The Sixth Set of Locks Project.
b) The Fifth Set of Locks Project.
c) The Fourth Set of Locks Project.
d) The Third Set of Locks Project.
Answer-d
Explanation:-
Panama Canal expansion project
The project formally began in 2007 and was due to finish in 2014. But its completion was delayed by two years and it is estimated cost was $50 billion.
Panama Canal expansion project is also called as the Third Set of Locks Project.
The new lane of the canal runs for 77km. It doubles the existing capacity of the Panama Canal by adding a new lane of traffic allowing for a larger number of ships.
It also increases the depth and width of the lanes and locks allowing much-larger generation of container ships to pass. It also has raised the maximum operating water level of Gatun Lake.
Overall it will have a direct impact on economies of scale and international maritime trade.
Q.6) Consider the following statements regarding Missile Technology Control Regime (MTCR)
- MTCR was established by G-7 countries
- The aim of the MTCR is to restrict the proliferation of missiles, unmanned air vehicles (UAVs), complete rocket systems and related technology for those systems capable of carrying a 500 kilogram payload for at least 300 kms, as well as systems intended for the delivery of weapons of mass destruction (WMDs).
- India became the 35th full member of the Missile Technology Control Regime (MTCR).
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-d
Explanation:-
Missile Technology Control Regime (MTCR) was established by G-7 countries in 1987. The aim of the MTCR is to restrict the proliferation of missiles, unmanned air vehicles (UAVs), complete rocket systems and related technology for those systems capable of carrying a 500 kilogram payload for at least 300 kms, as well as systems intended for the delivery of weapons of mass destruction (WMDs).
India was able to successfully enter this multilateral export control regime with the unopposed support of all 34 MTCR Partners. Earlier in 2015, India’s bid for the membership to the group had failed after it was blocked by Italy.
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