We posted 7 questions in 10 PM Daily Quiz on 8 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) Consider the following statements regarding procedure of ratification of a treaty
1. In India, an International treaty is ratified by the decision of the Union Cabinet.
2. In US, an International treaty is ratified by the signature of the President.
3. In the case of European Union, ratification is required by two-third majority of the total member.
Select the correct answer using the codes given below:
a) 1 and 2 only
b) 1 and 3 only
c) 1, 2 and 3
d) 1 only
Answer-d
Explanation:-
How is ratification done?
Countries follow different systems and domestic laws to adhere to international treaties or agreements. In some cases, the government of the day is competent to decide whether the country would be part of an international legal agreement or not whereas some nations requires assent of their Parliament. In many countries, a Presidential decree is enough. It all depends on the political system that the country follows, the nature of its government and its domestic laws, and also the kind of international treaty or agreement under consideration.
In India, approval of Parliament will not be required for the government to ratify the Paris Agreement. A Cabinet decision to this effect would be enough. The United States, on the other hand, would need the approval of both Houses of Congress to join the Agreement. In the case of the EU, ratification will be even more complicated because the consent of each member country will have to be obtained.
Q.2) Consider the following statements regarding Accommodative monetary policy
- It is another term for contractionary monetary policy.
- The objective of this kind of policy is to encourage more spending by making money less expensive to borrow by lowering the interest rate.
Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are true
d) Neither is true
Answer-b
Explanation:-
- Accommodative monetary policy means central bank chooses to expand the overall money supply to boost the economy when the growth is slowing.
- The objective of this kind of policy is to encourage more spending by making money less expensive to borrow by lowering the interest rate.
- It can be said it is expansionary type of monetary policy.
Q.3) Consider the following statements regarding Open Sky Policy
1. Its objective is to to create a free-market environment for the airline industry.
2. Currently, India has open sky agreements with UK without restriction.
Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are true
d) Neither is true
Answer-a
Explanation:-
What is Open sky policy?
Open skies is an international policy concept that calls for the liberalization of the rules and regulations of the international aviation industry—especially commercial aviation—in order to create a free-market environment for the airline industry. Its primary objectives are:
- to liberalize the rules for international aviation markets and minimize government intervention as it applies to passenger, all-cargo, and combination air transportation as well as scheduled and charter services; and
- to adjust the regime under which military and other state-based flights may be permitted.
Currently, Currently, India has open sky agreements with US without restriction.
Q.4) Why does India wants Trade Facilitation Agreement (TFA) in services?
a) It will pave the way for better negotiations on services at the bilateral and regional Free Trade Agreement negotiations.
b) It will help in providing greater clarity in case of disputes arising out of visa-related restrictions.
c) TFA in Services will ease the flow of global services trade.
d) All of the above
Answer-d
Explanation:-
Why India wants Trade Facilitation Agreement (TFA) in services?
- Service sector has huge potential and it contributes significantly to the country’s economy.
- It will pave the way for better negotiations on services at the bilateral and regional Free Trade Agreement negotiations.
- India wants that there should be some distinction between temporary movement of professionals and (permanent) migration.
- A global pact on services trade facilitation will also help in providing greater clarity in case of disputes arising out of visa-related restrictions.
- In that regard, India has laid that TFA in services will ease the flow of temporary movement of software, accounting, medical and consulting professionals as well as similar skilled workers.
- TFA in Services will also ease the flow of global services trade.
Q.5) Consider the following statements regarding Chinese policy on religious practices:
- It banned public observance of Ramzan.
- It banned minors from getting religious practice.
Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are true
d) Neither is true
Answer c
Explanation:- Click here
Q.6) What are the objectives of lead bank scheme?
- Eradication of unemployment and underemployment.
- Appreciable rise in the standard of living for the poorest of the poor.
- Provision of some of the basic needs of the people who belong to poor sections of the society
Select the correct answer using the codes given below:
a) 1 and 2 only
b) 1 and 3 only
c) 1, 2 and 3
d) 1 only
Answer c
Explanation:-
The lead bank scheme, launched way back in 1969, is an integrated mechanism to extend banking services to the doorsteps of consumers, especially the poor.
Objectives of Lead Bank Scheme:
- Eradication of unemployment and under employment
- Appreciable rise in the standard of living for the poorest of the poor
- Provision of some of the basic needs of the people who belong to poor sections of the society
Q.7) Consider the statement regarding Business correspondent:
- They are bank representatives.
- They help villagers to open bank accounts.
- They help villagers in banking transactions. (deposit money, take money out of savings account, loans etc.)
Select the correct answer using the codes given below:
a) 1 and 2 only
b) 1 and 3 only
c) 1, 2 and 3
d) 1 only
Answer c
Explanation:- Click here
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