QUIZ – 2017: Insights Current Affairs Quiz,02 November 2018
QUIZ – 2017: Insights Current Affairs Quiz
The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2018. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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0 of 5 questions completed Questions: The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam. To view Solutions, follow these instructions: Click on – ‘Start Quiz’ button Solve Questions Click on ‘Quiz Summary’ button Click on ‘Finish Quiz’ button Now click on ‘View Questions’ button – here you will see solutions and links.INSIGHTS CURRENT EVENTS QUIZ 2017
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Question 1 of 5
1. Question
1 pointsIn the Indian context, the terms ‘IR8’, ‘IR36’, ‘Sonora 64’ and ‘Lerma Rojo’ are all associated with
Correct
Solution: b.
IE: In the early 1960s, India imported 18,000 tonnes of the semi-dwarf high yielding (HY) wheat variety, Lerma Rojo and Sonora 64. Developed by Borlaug and his team at the International Maize and Wheat Improvement Center (CIMMYT), Mexico, these wheat varieties proved to be the harbinger of the Green Revolution. Indian scientists adapted the imported germplasm to create indigenous varieties: Kalyan developed by D S Athwal and Sona created by M S Swaminathan. Around the same time, the HY miracle rice, IR8 — developed by Peter Jennings and Henry M Beachell of the International Rice Research Institute (IRRI) — was imported. About a decade later, an improved variety, IR36 — developed by IRRI’s Gurdev Khush — made its presence felt in the country’s fields. The breeding programme under the All India Coordinated Research Project (AICRP) produced Padma and Jaya, the first indigenous HY rice varieties. These became the centrepiece of India’s rice revolution.
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Incorrect
Solution: b.
IE: In the early 1960s, India imported 18,000 tonnes of the semi-dwarf high yielding (HY) wheat variety, Lerma Rojo and Sonora 64. Developed by Borlaug and his team at the International Maize and Wheat Improvement Center (CIMMYT), Mexico, these wheat varieties proved to be the harbinger of the Green Revolution. Indian scientists adapted the imported germplasm to create indigenous varieties: Kalyan developed by D S Athwal and Sona created by M S Swaminathan. Around the same time, the HY miracle rice, IR8 — developed by Peter Jennings and Henry M Beachell of the International Rice Research Institute (IRRI) — was imported. About a decade later, an improved variety, IR36 — developed by IRRI’s Gurdev Khush — made its presence felt in the country’s fields. The breeding programme under the All India Coordinated Research Project (AICRP) produced Padma and Jaya, the first indigenous HY rice varieties. These became the centrepiece of India’s rice revolution.
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Question 2 of 5
2. Question
1 pointsIndia jumped 23 ranks in the World Bank’s Ease of Doing Business Index 2018 to 77. However, there are some parameters on which India’s ranking deteriorated. Among which one of the following parameters did India not witness a drop in its ranking?
Correct
Solution: b.
India’s ranking has deteriorated in the following parameters: Protecting minority investors, paying taxes, registering property and resolving insolvency. There is only a marginal improvement (164 in 2017 to 163 in 2018) in the ‘enforcing contracts’ parameter.TH;
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Incorrect
Solution: b.
India’s ranking has deteriorated in the following parameters: Protecting minority investors, paying taxes, registering property and resolving insolvency. There is only a marginal improvement (164 in 2017 to 163 in 2018) in the ‘enforcing contracts’ parameter.TH;
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Question 3 of 5
3. Question
1 pointsThe term Regulatory Forbearance, sometimes seen in the news, is often associated with
Correct
Solution: d.
TH: The Reserve Bank of India has refused to provide any leeway to stressed borrowers or give in to the demand of higher dividend by the government, which issued three letters to the central bank in the last one month for consultation under Section 7 of the RBI Act. Section 7 of the RBI Act empowers the central government to issue directions to the RBI in public interest. This section has, however, never been invoked by the government so far. Section 7 has two parts — consultation and then issuing a direction to the RBI for taking some action in public interest.
According to central banking sources, one letter pertained to exemption for power companies from new stressed asset norms, while another one was to dilute capital threshold norms of the prompt corrective action framework. Yet another one communication was pertaining to more capital to the government from the reserves of the central bank.
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Incorrect
Solution: d.
TH: The Reserve Bank of India has refused to provide any leeway to stressed borrowers or give in to the demand of higher dividend by the government, which issued three letters to the central bank in the last one month for consultation under Section 7 of the RBI Act. Section 7 of the RBI Act empowers the central government to issue directions to the RBI in public interest. This section has, however, never been invoked by the government so far. Section 7 has two parts — consultation and then issuing a direction to the RBI for taking some action in public interest.
According to central banking sources, one letter pertained to exemption for power companies from new stressed asset norms, while another one was to dilute capital threshold norms of the prompt corrective action framework. Yet another one communication was pertaining to more capital to the government from the reserves of the central bank.
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Question 4 of 5
4. Question
1 pointsConsider the following statements about Section 7 of the RBI Act, 1934 that was recently in the news:
1.It requires the Central Government to hold consultations with the Governor prior to giving directions to the RBI to take certain actions in public interest.
2.A similar provision has been built into the laws that govern regulatory bodies in other sectors.
Which of the statements given above is/are correct?
Correct
Solution: c.
IE: Amid tensions between the government and the Reserve Bank of India (RBI), the former has reportedly initiated steps towards invoking its powers under Section 7 of the RBI Act of 1934. It is a provision under which the government can give directions to the RBI to take certain actions “in the public interest”. This provision has been built into the law governing not just the RBI but also regulatory bodies in other sectors.
Under Section 7, “The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest. Subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers and do all acts and things which may be exercised or done by the Bank.”
TH: Section 7 has never been invoked by the government so far.
Livemint: The government has only initiated consultations with RBI on different issues under Section 7 (1) and not invoked it.
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Incorrect
Solution: c.
IE: Amid tensions between the government and the Reserve Bank of India (RBI), the former has reportedly initiated steps towards invoking its powers under Section 7 of the RBI Act of 1934. It is a provision under which the government can give directions to the RBI to take certain actions “in the public interest”. This provision has been built into the law governing not just the RBI but also regulatory bodies in other sectors.
Under Section 7, “The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest. Subject to any such directions, the general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Central Board of Directors which may exercise all powers and do all acts and things which may be exercised or done by the Bank.”
TH: Section 7 has never been invoked by the government so far.
Livemint: The government has only initiated consultations with RBI on different issues under Section 7 (1) and not invoked it.
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Question 5 of 5
5. Question
1 pointsConsider the following statements about India’s National IPR Policy:
1.The nodal agency to coordinate, guide and oversee implementation of IPRs is the Human Resource Development Ministry.
2.It commits India to reconciling its patent laws in accordance with such current international benchmarks that enable it to participate in several on-going multilateral trade negotiations.
3.The policy will be reviewed every five years.
Which of the statements given above is/are correct?
Correct
Solution: c.
TH, Insights (From 2016): The nodal agency to coordinate, guide and oversee implementation of IPRs is the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry… The government has indicated that there is no urgent need to change patent laws that are already fully World Trade Organization-compliant. So India has resisted pressure from the US and other Western countries to amend its patent laws.
In the news: Th;
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Incorrect
Solution: c.
TH, Insights (From 2016): The nodal agency to coordinate, guide and oversee implementation of IPRs is the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry… The government has indicated that there is no urgent need to change patent laws that are already fully World Trade Organization-compliant. So India has resisted pressure from the US and other Western countries to amend its patent laws.
In the news: Th;
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