QUIZ – 2017: Insights Current Affairs Quiz, 20 March 2019

Solution: c)

IBC, 2016 is an Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.

Insolvency and Bankruptcy Code (IBC), 2016:

• Override other existing laws on matters pertaining to Insolvency and Bankruptcy.
• Resolve insolvencies within 180 days. (Extendable upto 270 days) for the Company.
• Debt Recovery Tribunal – Adjudicating authority for individuals and partnerships.
• National Company Law Tribunal – Adjudicating authority for corporate insolvency (forCompanies and Limited Liability Partnership firms).
• Insolvency and Bankruptcy Board of India to exercise regulatory oversight over insolvency professionals, insolvency professional agencies and information utilities.
• Insolvency and Bankruptcy Board of India is under the Ministry of Corporate Affairs (MCA).
• Enabling provisions to deal with cross border insolvency.

Solution: d)

India has moved one notch higher to 136th position in the 2018 Global Peace Index prepared by the international think-tank Institute for Economics and Peace (IEP), which was topped by Iceland.

Source

Solution: d)

• National Supercomputing Mission, approved in 2016, is being implemented and steered jointly by the Department of Science and Technology (DST) and Department of Electronics and Information Technology (DeitY).
• The Mission envisages empowering national academic and R&D institutions spread over the country by installing a vast supercomputing grid comprising of more than 70 high-performance computing facilities.
• These supercomputers will also be networked on the National Supercomputing grid over the National Knowledge Network (NKN).
• The Mission includes development of highly professional High Performance Computing (HPC) aware human resource for meeting challenges of development of these applications.

Source

Solution: c)

SBI, ICICI and HDFC remain Systemically Important Banks.

D-SIB means that the bank is too big to fail. According to the RBI, some banks become systemically important due to their size, cross-jurisdictional activities, complexity and lack of substitute and interconnection. Banks whose assets exceed 2% of GDP are considered part of this group. The RBI stated that should such a bank fail, there would be significant disruption to the essential services they provide to the banking system and the overall economy.

Source

Solution: d)

From India the Intangible Cultural Heritages added into this list include:

• Tradition of Vedic chanting
• Ramlila, the traditional performance of the Ramayana
• Kutiyattam, Sanskrit theatre
• Ramman, religious festival and ritual theatre of the Garhwal Himalayas.
• Mudiyettu, ritual theatre and dance drama of Kerala
• Kalbelia folk songs and dances of Rajasthan
• Chhau dance
• Buddhist chanting of Ladakh: recitation of sacred Buddhist texts in the trans-Himalayan Ladakh region, Jammu and Kashmir.
• Sankirtana, ritual singing, drumming and dancing of Manipur
• Traditional brass and copper craft of utensil making among the Thatheras of Jandiala Guru, Punjab
• Yoga
• Nawrouz
• Kumbh Mela