QUIZ: Insights Current Affairs Quiz – 1

Which of the following statements about Payment Banks are incorrect?

1. Non-Banking Financial Institutions (NBFCs) and super market chains can acquire the license
2. They can accept demand and term deposits
3. They must comply with the SLR (statutory liquidity ratio) and CRR (cash reserve ratio) requirements

Select the correct answer using the codes given below:

With reference to the ‘Schengen Code’, which of the following is/are correct?

1. Members party to it form the ‘Schengen Area’, and have abolished passport and any other type of border control at their common borders, also referred to as internal borders
2. Only European Union member nations have adopted this code

Choose the correct answer:

Consider the following features of administration contained in the Fifth Schedule of the Indian Constitution:

1. The President is empowered to declare an area to be a scheduled area
2. The President is empowered to direct that any particular act of the Parliament does not apply to a scheduled area
3. The Tribal Advisory Council, three-fourth of whose members are to be representatives of the Scheduled Tribes (STs) in the state assembly, advise on welfare and advancement of the STs

Which of the above statements are correct?

The ‘Narcotics Control Bureau’ (NCB) is affiliated to the

Consider the following statements about “Methamphetamine”:

1. Unlike drugs such as marijuana, cocaine, and heroin, which are derived from plants, it can be manufactured using a variety of store bought chemicals
2. It is also known as “Ephedrine” or in short, “Meth”
3. Ephedrine is a vital component in cough syrups and nasal decongestants

Select the correct answer using the codes given below:

The Defence Acquisition Council (DAC) is chaired by the: