QUIZ – 2017: Insights Current Affairs Quiz, 24 September 2019

Solution: c)

The Central Vigilance Commission (CVC) has constituted an ‘Advisory Board for Banking Frauds (ABBF)’ to examine bank fraud of over ₹50 crore and recommend action.

1. The board’s jurisdiction would be confined to those cases involving the level of officers of General Manager and above in the Public Sector Banks in respect of an allegation of fraud in a borrowal account.
2. It would function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective public sector banks (PSBs).
3. Lenders would refer all large fraud cases above ₹50 crore to the board and on receipt of its recommendation or advice, the bank concerned would take further action in such matter.
4. The Central Bureau of Investigation may also refer any case or matter to the board where it has any issue or difficulty or in technical matters with the PSB concerned.
5. It would also periodically carry out frauds analysis in the financial system and give inputs for policy formulation related to the fraud to the RBI.

Source

Solution: a)

As part of centenary year celebrations of Dr. Vikram Sarabhai, father of Indian space programme, ISRO has announced its “Vikram Sarabhai Journalism Award in Space Science, Technology and Research”.

The award recognizes and rewards journalists who have actively contributed towards the field of space science, applications, and research.

1. Vikram Sarabhai set up India’s first rocket launch site in Thumba, a small village near the Thiruvananthapuram airport in Kerala.
2. Vikram Sarabhai was also responsible for bringing cable television to India. His constant contact with NASA paved a way for the establishment of Satellite Instructional Television Experiment (SITE) in 1975.
3. Sarabhai was the mastermind behind building India’s first satellite, Aryabhata.
4. He was one of the founding members of the Indian Institute of Management, Ahmedabad (IIMA).

Solution: b)

There was 41 per cent reduction in crop residue burning in North India in 2018 compared with that in 2016. As many as 4,500 villages in Haryana and Punjab were declared zero stubble burning villages in 2018.

Under a central government scheme for promoting agricultural mechanisation for in-situ management of crop residue in North India between 2018-19 and 2019-20, an amount of ₹1,151.80 crore has been allocated. Within the first year of implementation, the Happy Seeder/zero tillage technology was adopted in 8 lakh hectares of land in these States.

Stubble burning results in emission of harmful gases such carbon dioxide, sulphur dioxide, nitrogen dioxide along with particulate matter.

Advantages of stubble burning:

1. It quickly clears the field and is the cheapest alternative.
2. Kills weeds, including those resistant to herbicide.
3. Kills slugs and other pests.
4. Can reduce nitrogen tie-up.

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Solution: b)

Global Environment Outlook report has been released. The report is the sixth and is the UN’s most comprehensive report on the state of the global environment since the fifth edition in 2012.

• The GEO is often referred to as UN Environment’s flagship environmental assessment.
• The first publication was in 1997 and was originally requested by Member States.

GEO global assessments provide an integrated analysis (e.g. social, economic, environmental) of major trends that have shaped the environment. These reports provide world leaders with policy options to take immediate action to address environmental issues by turning environmental discussions into practice.

Source

Solution: b)

The 2019 G20 Osaka summit was the fourteenth meeting of the G20, a forum of 19 countries and the EU that together represent most of the world economy. It was the first G20 summit to be hosted by Japan.

The 19 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Republic of South Africa, Russia, Saudi Arabia, Turkey, United Kingdom, United States of America.

The recent G20 summits have focused not only on macroeconomy and trade, but also on a wide range of global issues which have an immense impact on the global economy, such as development, climate change and energy, health, counter-terrorism, as well as migration and refugees.

India was the host country in 2002. The 2020 Summit will be in Saudi Arabia and 2022 in India.