Current Affairs MCQs [ 6 and 7 Nov 2017 ] PIB TheHindu IndianExpress & Other leading newspapers

Sumant Kumar, B.Tech NIT Allahabad sumant.magadh@gmail.com https://www.facebook.com/SumantKM/

With reference to the Insolvency and Bankruptcy Code 2015, consider the following statements: 1. It aims to set up

Insolvency and Bankruptcy Board of India.

2. It abolishes National Company Law Tribunal (NCLT).

3. It covers insolvency resolution of companies as well as individuals.

Which of the statements given above is/are correct? (a) 1 only (b) 1 and 3 only (c) 2 and 3 only

• The Insolvency and Bankruptcy Board of India will be set up to regulate functioning of

• Insolvency Professionals,

• Insolvency Professional Agencies and

• Intelligence Utilities.

• The National Company Law Tribunal (NCLT) will adjudicate insolvency resolution for companies. The Debt Recovery Tribunal (DRT) will adjudicate insolvency resolution for individuals.

• The Code creates time-bound processes for insolvency resolution of companies and individuals.

• These processes will be completed within 180 days.

• The resolution processes will be conducted by licensed insolvency professionals (IPs).

• Information utilities (IUs) will be established to collect, collate and disseminate financial information to facilitate insolvency resolution.

(d) 1, 2 and 3 Ans B

Which among the following are characteristics of Western Ghats? 1. They are dissected by

major rivers which form delta. 2. The height of the

Western Ghats progressively increases from north to south.

3. They are continuous and can be crossed through passes only.

Select the correct answer using the code given below. (a) 1 and 2 only

• The Western Ghats and the Eastern Ghats mark the western and the eastern edges of the Deccan Plateau respectively.

• Western Ghats lie parallel to the western coast.

• They are continuous and

• can be crossed through passes only like Palghat pass, Kasara ghat etc.

• The Western Ghats are higher than the Eastern Ghats.

• Their average elevation is 900-1600 metres as against 600 metres of the Eastern Ghats.

• The Western Ghats cause orographic rain by facing the rain bearing moist winds to rise along the western slopes of the Ghats.

(b) 1 and 3 only (c) 2 and 3 only (d) 1, 2 and 3 Ans C

• The height of the Western Ghats progressively increases from north to south.

• The highest peaks include the Anai Mudi (2,695metres) and the Doda Betta (2,637 metres).

• Deltas are not formed on Western coast.

With reference to Agasthyamalai Biosphere Reserve, consider the following statements: 1. The biosphere reserve

is spread over the states of Karnataka, Kerala and Tamil Nadu.

2. Anaimudi, the highest peak of Western Ghats, is situated in the reserve.

3. The reserve is home to Nilgiri Tahr and Asian Elephants.

Which of the statements given above is are correct? (a) 1 and 2 only (b) 1 and 3 only (c) 3 only (d) 1, 2 and 3 Ans C

The Agasthyamalai Biosphere Reserve (ABR) • established in 2001

• includes 3,500.36 km2 out of which 1828 km² is in Kerala and 1672.36 km² is in Tamil Nadu.

• It is composed of Neyyar, Peppara and Shendurney wildlife Sanctuaries in Kerala and Kalakad-Mundanthurai Tiger Reserve in Tamil Nadu.

• Periyar Tiger Reserve is not included in the Agasthyamalai Biosphere reserve.

• Recently, Agasthyamala Biosphere Reserve was included in the World Network of Biosphere Reserves of United Nations Educational, Scientific and Cultural Organization (UNESCO).

• The reserve is named after Agastya Mala peak that rises up to almost 1868 meters above sea level, in Thiruvananthapuram, Kerala.

• It is home to rare animals which include the Tiger, Asian Elephant, and Nilgiri Tahr. It is also home to the Kanikaran tribe, one of the oldest surviving ancient tribes in the world.

Which of the following is/are included in Agasthyamalai Biosphere reserve? 1. Shendurney

Wildlife Sanctuary

The Agasthyamalai Biosphere Reserve (ABR) • established in 2001

• includes 3,500.36 km2 out of which 1828 km² is in Kerala and 1672.36 km² is in Tamil Nadu.

2. Neyyar Wildlife Sanctuary

3. Periyar Tiger Reserve

4. Kalakad-Mundanthurai Tiger Reserve

Select the correct answer using the code given below. (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 1, 2 and 4 only (d) 3 and 4 only Ans C

• It is composed of Neyyar, Peppara and Shendurney wildlife Sanctuaries in Kerala and Kalakad-Mundanthurai Tiger Reserve in Tamil Nadu.

• Periyar Tiger Reserve is not included in the Agasthyamalai Biosphere reserve.

• Recently, Agasthyamala Biosphere Reserve was included in the World Network of Biosphere Reserves of United Nations Educational, Scientific and Cultural Organization (UNESCO).

• The reserve is named after Agastya Mala peak that rises up to almost 1868 meters above sea level, in Thiruvananthapuram, Kerala.

• It is home to rare animals which include the Tiger, Asian Elephant, and Nilgiri Tahr. It is also home to the Kanikaran tribe, one of the oldest surviving ancient tribes in the world.

Public Credit Registry: 1. The PCR will be an

extensive database of credit information for India that is accessible to all stakeholders.

Management of PCR: 1. Generally, a PCR is managed by a public

authority like the central bank or the banking supervisor.

2. The idea is to capture all relevant information in one large database on the borrower and, in particular, the borrower’s entire set of borrowing contracts and outcomes.

Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Ans C

2. Reporting of loan details to the PCR by lenders and/or borrowers is mandated by law.

Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Ans C The contractual terms and outcomes covered and the threshold above which the contracts are to be reported vary in different jurisdictions, but the idea is to capture all relevant information in one large database on the borrower, in particular, the borrower’s entire set of borrowing contracts and outcomes.

Benefits of having a PCR: o A PCR can potentially help banks in credit assessment and pricing of credit as well as in

making risk-based, dynamic and counter-cyclical provisioning. o The PCR can also help the RBI in understanding if transmission of monetary policy is working,

and if not, where are the bottlenecks. o Further, it can help supervisors, regulators and banks in early intervention and effective

restructuring of stressed bank credits. o A PCR will also help banks and regulators as credit information is a ‘public good’ and its

utility is to the credit market at large and to society in general. Select the correct answer using the code given below. (a) 1 and 4 only (b) 2 and 3 only (c) 1, 3 and 4 only (d) 1, 2, 3 and 4 Ans D

SOME IMPORTANT DRAMAS AND THEIR WRITERS NAME WRITER Meghadutam Kalidasa Abhijnan Shakuntalam Kalidasa Padmavati Madhusudan Harshacharitam Bana Bhatta Neel Devi Bharatendu Satya Harish Chandra Bharatendu Andher Nagri Bharatendu Chandraval Jai Shankar

Prasad Ajatshatru Jai Shankar

Prasad Rajyashri Jai Shankar

Prasad Chandragupta Jai Shankar

Prasad Prayashchit Jai Shankar

Prasad Karunalaya Jai Shankar

Prasad Bharatendu Jai Shankar

Prasad

International Consortium of Investigative Journalists o The ICIJ is global network of more than 200 investigative journalists in 70 countries who

collaborate on in-depth investigative stories. o It is headquartered in Washington DC, US. o It has released Paradise papers. o Earlier in 2016, it had released Panama Papers.

Select the correct answer using the code given below. (a) 1 and 4 only (b) 2 and 3 only (c) 1, 3 and 4 only (d) 1, 2, 3 and 4 Ans D • It was founded in 1997 by respected American journalist Chuck Lewis.

• It was launched as a project of Centre for Public Integrity, focusing on issues that do not stop at national frontiers: corruption, cross-border crime and accountability of power.

With reference to Intergovernmental Panel on Climate Change (IPCC), consider the following statements: 1. The Intergovernmental

Panel on Climate Change (IPCC) is under auspices of United Nations.

2. The IPCC carries out its own original research and monitors climate.

Which of the following statement(s) is/are correct? 1. Only 1 2. Only 2 3. Both 1 and 2 4. Neither 1 nor 2

Ans A

• The Intergovernmental Panel on Climate Change (IPCC) is a scientific and intergovernmental body under the auspices of the United Nations.

• The IPCC does not carry out its own original research, nor does it do the work of monitoring climate or related phenomena itself.

• IPCC was established in 1988 by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) in recognition of the problem of global warming.

• Through the IPCC, climate experts from around the world synthesize the most recent climate science findings every five to seven years and present their report to the world’s political leaders.

World Meteorological Organization = WMO • an intergovernmental organization.

• membership = 191 Member States and Territories.

• It originated from the International Meteorological Organization=IMO, which was founded in 1873.

• Established in 1950.

• the specialised agency of the United Nations for meteorology (weather and climate), operational hydrology and related geophysical sciences.

• Headquarters in Geneva, Switzerland.

• is a member of United Nations Development Group = UNDG.

• Functions :

o WMO provides a framework for international cooperation in the development of meteorology and operational hydrology and their practical application.

o WMO and UNEP jointly created the IPCC.

Nelapattu Bird Sanctuary 1. It is a bird

sanctuary in Nellore district, Andhra Pradesh

2. It is an important breeding site for spot-billed pelicans.

Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Ans C

• It has an area of 458.92 hectares.

• It is an important breeding site for spot-billed pelicans (Pelecanus philippensis).

• Nelapattu has two major plant communities, Barringtonia swamp forests and southern dry evergreen scrub.

• Southern dry evergreen scrub covers most of the sanctuary, including the 288 hectares of Kalluru Reserved Forest and 88 hectares of unreserved forest.

• About 187 bird species can be found at Nelapattu Bird Sanctuary, 50 of which are migratory.

• In addition to the spot-billed pelican, it is an important breeding site for white ibis, openbill stork, night heron, and little cormorant. Other migratory water birds that visit the sanctuary include pintail, common teal, dabchick, shoveler, coot, spot-bill duck, grey heron, darter, black-winged stilt, and garganey gadwall.

With reference to Mahatma Gandhi National Rural Employment Guarantee Act, consider the following statements: 1. It falls under Indian labour law

and is a social security measure. 2. It aims to provide at least 200

days of wage employment in a financial year to every household.

Which of the above statement(s) is/are correct? 1. Only1 2. Only 2 3. Both 1 and 2 4. Neither 1 nor 2

Ans A

“Mahatma Gandhi National Rural Employment Guarantee Act”, MGNREGA), is an Indian labour law and social security measure that aims to guarantee the ‘right to work’. It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.

Which of the following is/ are recent policy initiatives taken by the Government of India to promote export of services? 1. Services Exports

from India Scheme

The government has taken a number of policy initiatives to promote services exports which include 1. the Service Exports from India Scheme (SEIS) (part

of new Foreign Trade Policy of 2015) for increasing exports of notified services from India;

2. Global Exhibitions on Services

3. Services Conclaves Select the correct answer using the code given below. (a) 1 and 3 only (b) 2 only (c) 1 and 2 only (d) 1, 2 and 3 Ans D

2. organizing Global Exhibitions on Services (GES) and services conclaves to augment exports of various services and position India as a key player in world services trade;

3. besides some initiatives in sectors like tourism and shipping.

With reference to ‘Bitcoins’, sometimes seen in the news, which of the following statements is/are correct? o Bitcoins in India are tracked by the Reserve Bank of India o Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin

address o Online payments can be sent without either side knowing the identity of the other

Select the correct answer using the code given below: a) 1 and 2 only b) 2 and 3 only c) 3 only d) 1, 2 and 3 Solution: b. Bitcoins can be sent directly to anyone, anywhere in the world. The only requirement is that you should have a Bitcoin address of the recipient. The process doesn’t require you to reveal your identity. The system is peer-to-peer and transactions take place between users directly, without an intermediary.

The Economic Survey 2017 describes India’s recent demonetization as a “reverse helicopter drop”, or a “helicopter hoover”. Why? a) Because demonetization was a sudden and surprise move b) Because demonetization involved reduction of money supply c) Because demonetization was a ‘surgical strike’ on terrorist money supply and counterfeit currency d) None of the above Solution: b)

In the wake of the Global Financial Crisis (GFC), advanced economies have used monetary policy to stimulate growth, stretching its use to domains heretofore considered heretical such as negative interest rate policies and “helicopter drops” of money. In fact, India has given a whole new expression to unconventional monetary policy, with the difference that whereas advanced economies have focused on expanding the money supply, India’s demonetisation has reduced it. This policy could be considered a “reverse helicopter drop”, or perhaps more accurately a “helicopter hoover”

Incremental Cash Reserve Ratio was implemented by the Reserve Bank of India to: (a) prevent capital flight from Indian economy. (b) implement recapitalisation of public sector banks.

The Reserve Bank of India announced an incremental cash reserve ratio (CRR) of 100 per cent for banks in order to tackle the surge in deposits following demonetisation of Rs 500 and Rs 1000 notes.

(c) remove excess liquidity from the economy during demonetisation. (d) none of the above. Ans C

It is a temporary measure within RBI’s liquidity management framework to drain excess liquidity in the system.

Consider the following statements regarding Snow Flake corals: 1. It is native to Tropical Western

Atlantic Ocean. 2. It occurs floating on water surface

without attaching itself to reefs. 3. It is an invasive species posing

threat to the coral reefs in India. Which of the statements given above is/ are correct? (a) 1 only

• Snowflake coral (Carijoa riisei)

• is a shallow fast-growing soft coral

• was in news recently for it is posing a major threat to the coral reef colonies in the Gulf of Mannar, Gulf of Kutch & the Andaman & Nicobar Islands.

• The snowflake coral is known to inhabit reefs and underwater structures, such as shipwrecks and piers, attaching itself to metal, concrete and even plastic. It is considered an invasive species because of its capacity to

(b) 2 only (c) 1 and 3 only (d) 1, 2 and 3 Ans C

dominate space and crowd out other marine organisms.

• It is native to the Tropical Western Atlantic Ocean.

With reference to Arakan Range, consider the following statements: 1. This is the most

prominent of a series of parallel ridges that arc through Assam, Nagaland, Mizoram and Burma

2. Geologically, Java and Sumatra islands are extensions of Arakan Range

Which of the above statements is/are correct? a) 1 only b) 2 only c) Both 1 and 2 d) Neither 1 nor 2 Solution: a)

The Arakan Mountains (Arakan Range, Rakhine Range, Rakhine Yoma , Arakan Yoma, Rakhine Roma, Arakan Roma) is a mountain range in western Burma (Myanmar), between the coast of Rakhine State and the Central Burma Basin, in which flows the Irrawaddy River. • It is the most prominent of a series of parallel ridges that

arc through Assam, Nagaland, Mizoram and Burma.

• The Arakan Mountains run from Cape Negrais in the south in to the Manipur State of India in the north.

• They include the Naga Hills, the Chin Hills, and the Patkai range which includes the Lushai Hills.

• These mountains are submerged in the Bay of Bengal for a sufficiently long stretch and emerges again in the form of the Andaman and Nicobar Islands.

In the marine food chain, which of the following animals sit at the top i.e. at Level Four? o Dolphin o Pelican o Tuna

Consider the following statements: 1. India’s latest ranking on the World Bank Ease of Doing Business has slipped by around 30 places 2. India has improved by around 20 places on the World

o Shark o Penguin

Select the correct answer using codes below: a) 2,3 and 4 Only b) 4 Only c) 1, 4 and 5 Only d) 1,2,3,4 and 5 Solution: d) The large predators that sit atop the marine food chain are a diverse group that includes finned (sharks, tuna, dolphins), feathered (pelicans, penguins), and flippered (seals, walruses) animals. These apex predators tend to be large, fast, and very good at catching prey. They are also long-lived and usually reproduce slowly.

Economic Forum’s latest Global Gender Gap Index Which of the statements given above is/are correct? a) 1 only b) 2 only c) Both 1 and 2 d) Neither 1 nor 2 Solution: d. • India has jumped 30 positions to 100th place among 190 countries in the latest edition of the Ease of Doing Business rankings released by the World Bank. • India slipped 21 places on the World Economic Forum’s (WEF) Global Gender Gap index to 108, behind neighbours China and Bangladesh, primarily due to less participation of women in the economy and low wages. Moreover, India’s latest ranking is 10 notches lower than its reading in 2006 when the WEF started measuring the gender gap.