QUIZ – 2017: Insights Current Affairs Quiz, 29 June 2019

Solution: d)

Kolhapuri chappal gets GI boost.

The approval for GI tag was jointly received by Karnataka and Maharashtra recently for making these chappals. There is a perception that these artisans are from Maharashtra alone, but a large number of them are from Karnataka, and have been making these chappals for centuries.

These leather chappals are hand-crafted and tanned using vegetable dyes. The art of making them is passed down one generation to another.

The tag is valid for a period of 10 years following which it can be renewed.

Solution: b)

The summer solstice occurs when one of the Earth’s poles has its maximum tilt toward the Sun. It happens twice yearly, once in each hemisphere (Northern and Southern). For that hemisphere, the summer solstice is when the Sun reaches its highest position in the sky and is the day with the longest period of daylight.

The summer solstice occurs during summer. This is the June solstice in the Northern Hemisphere and the December solstice in the Southern Hemisphere.

At the summer solstice, the Sun travels the longest path through the sky, and that day therefore has the most daylight.

Solution: d)

The world’s largest irrigation and drinking water system—Kaleshwaram Multipurpose Lift Irrigation Project—was recently inaugurated.

Kaleshwaram Lift Irrigation Project is a multi-purpose irrigation project on the Godavari River in Kaleshwaram, Telangana.

Kaleshwaram Lift Irrigation Project starts at the confluence point of Pranahita River and Godavari River.

The Kaleshwaram project is an off-shoot of the original Pranahitha-Chevella Lift Irrigation Schemetaken up by the Congress government in 2007 when Andhra Pradesh was not divided.

Solution: d)

The Global Findex database is the world’s most comprehensive data set on how adults save, borrow, make payments, and manage risk. World Bank launched this initiative with funding from the Bill & Melinda Gates Foundation, the database has been published every three years since 2011.

Solution: c)

The Financial Action Task Force (FATF) was established in July 1989 by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering. It is an inter-governmental body.

In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering.

Since its inception, the FATF has operated under a fixed life-span, requiring a specific decision by its Ministers to continue. The current mandate of the FATF (2012-2020) was adopted at a Ministerial meeting in April 2012.

The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

Starting with its own members, the FATF monitors countries’ progress in implementing the FATF Recommendations; reviews money laundering and terrorist financing techniques and counter-measures; and, promotes the adoption and implementation of the FATF Recommendations globally.

If country is placed in grey list of FATF, it would become harder to tap international loans from different financial institutions.