QUIZ – 2017: Insights Current Affairs Quiz, 11 April 2018

Solution: b.

Statement 2 is correct.

The International Standard Classification of Occupations (ISCO) is one of the main international classifications for which ILO is responsible. It belongs to the international family of economic and social classifications (this is comprised of reference classifications that have been registered into the United Nations Inventory of Classifications, reviewed and approved as guidelines by the United Nations Statistical Commission or other competent intergovernmental boards.)

ISCO is a tool for organising jobs into a clearly defined set of groups according to the tasks and duties undertaken in the job. The first version of ISCO was adopted in 1957 (ISCO-58) by the Ninth International Conference of Labour Statisticians. The current version is known as ISCO-08 (updated last in 2007).

http://www.ilo.org/public/english/bureau/stat/isco/;

http://www.thehindu.com/todays-paper/tp-opinion/skill-india-urgently-needs-reforms/article23448686.ece;

—

Solution: a.

During the recent global financial crisis, it was observed that problems faced by certain large and highly interconnected financial institutions hampered the orderly functioning of the financial system, which in turn, negatively impacted the real economy. Government intervention was considered necessary in many jurisdictions to ensure financial stability. Cost of public sector intervention and consequential increase in moral hazard require that future regulatory policies should aim at reducing the probability of failure of Systemically Important Banks (SIBs) and the impact of the failure of these banks.

• The RBI in 2014 came out with a Framework for dealing with Domestic Systemically Important Banks, which is based on the Basel Committee on Banking Supervision framework from 2011.
• The indicators which would be used for assessment are: size, interconnectedness, substitutability and complexity. Based on the sample of banks chosen for computation of their systemic importance, a relative composite systemic importance score of the banks will be computed. RBI will determine a cut-off score beyond which banks will be considered as D-SIBs.
• In addition to the SBI and ICICI Bank, the RBI has also identified HDFC Bank as a D-SIB.
• These banks will be required to have additional Common Equity Tier 1 capital requirement ranging from 0.20% to 0.80% of risk weighted assets.
• D-SIBs will also be subjected to differentiated supervisory requirements and higher intensity of supervision based on the risks they pose to the financial system.
• In case of distress, the government is expected to support these banks.

https://m.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=31680

Improvisation: http://www.thehindu.com/business/Industry/allegations-against-icici-bank-pose-reputational-risks-fitch/article23481684.ece;

—

Solution: d.

The Union government last Friday banned imports of the hormone oxytocin to stop its misuse in the livestock industry, where activists say it causes hormonal imbalances and shortens the lives of milch animals.

http://www.thehindu.com/news/national/govt-bans-imports-of-hormone-oxytocin/article23459609.ece;

—

Solution: a.

From 2017: In response to the humanitarian crisis being faced on account of the large influx of refugees into Bangladesh, Government of India has decided to extend assistance to Bangladesh. The relief material consists of items required urgently by the affected people, namely rice, pulses, sugar, salt, cooking oil, tea, ready to eat noodles, biscuits, mosquito nets etc.

In the news: http://www.thehindu.com/news/national/india-extends-support-to-bangladesh-for-resolving-rohingya-crisis/article23484259.ece;

—

Solution: b.

The Eighth  Regional  3R  Forum  in  Asia  and  the  Pacific is all set to commence in  Indore from  9  to  12  April  2018 with  an  overall  theme  of  “Achieving  Clean  Water,  Clean  Land  and Clean  Air  through 3R and Resource Efficiency  – A 21st Century Vision for Asia-Pacific Communities”. It is being hosted by the Ministry of Housing and Urban Affairs, Government of India, and co-organized by the Ministry of the Environment, Government of Japan, and the UNCRD.

• The 3R (reduce, reuse, recycle) Initiative was launched at the Ministerial Conference on the 3R Initiative in Tokyo, Japan, in 2005, with an aim to shift the global consumption and production patterns towards building a sound-material-cycle society.
• This was following the Sea Island Summit where G8 countries agreed to establish the 3R Initiative in 2005, recognising the importance of reducing barriers to the international flow of goods and materials for recycling and remanufacturing, developing capacity for 3Rs in developing countries, and encouraging multi-stakeholder collaboration.
• UNCRD is collaborating with the Ministry of the Environment of the Government of Japan and other partners to further promote activities in 3R, especially in the developing countries in Asia-Pacific.
• In 2009, the Regional 3R Forum in Asia was established at Japan’s proposal as a platform for broad cooperation on promotion of the 3Rs – reduce, reuse and recycle – in Asia.

http://www.env.go.jp/recycle/3r/en/index.html;

http://www.uncrd.or.jp/index.php?menu=388;

http://pib.nic.in/newsite/PrintRelease.aspx?relid=178513;

Solution: a.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=178530

—