QUIZ – 2017: Insights Current Affairs Quiz, 12 October 2019

Solution: c)

Union minister for information and broadcasting Prakash Javadekar flagged off a vehicle christened ‘Jaldoot’ to spread the message of water conservation.
Javadekar said Jaldoot, a travelling exhibition arranged by Pune-based Regional Outreach Bureau of I&B ministry, will tour eight districts of Maharashtra in the next two months.

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Solution: b)

The OALP, a critical part of the Hydrocarbon Exploration and Licensing Policy, provides uniform licences for exploration and production of all forms of hydrocarbons, enabling contractors to explore conventional as well as unconventional oil and gas resources.

Fields are offered under a revenue-sharing model and throw up marketing and pricing freedom for crude oil and natural gas produced.

• Under the OALP, once an explorer selects areas after evaluating the National Data Repository (NDR) and submits the EoI, it is to be put up for competitive bidding and the entity offering the maximum share of oil and gas to the government is awarded the block.
• NDR has been created to provide explorers’ data on the country’s repositories, allowing them to choose fields according to their capabilities. Data received through the National Seismic Programme, an in-depth study of 26 sedimentary basins, are continuously being added to the NDR.

• The Hydrocarbon Exploration and Licensing Policy (HELP) replacing the erstwhile New Exploration Licensing Policy (NELP) was approved in March 2016 and the Open Acreage Licensing Programme (OALP) along with the National Data Repository (NDR) were launched in June 2017 as the key drivers to accelerate the Exploration and Production (E&P) activities in India.
• The main features of HELP are Revenue Sharing Contract, single Licence for exploration and production of conventional as well as unconventional Hydrocarbon resources, marketing & pricing freedom, etc.

Solution: c)

Economic capital framework refers to the risk capital required by the central bank while taking into account different risks. The economic capital framework reflects the capital that an institution requires or needs to hold as a counter against unforeseen risks or events or losses in the future.

Although RBI was promoted as a private shareholders’ bank in 1935 with a paid up capital of Rs 5 crore, the government nationalised RBI in January 1949, making the sovereign its “owner”. What the central bank does, therefore, is transfer the “surplus” — that is, the excess of income over expenditure — to the government, in accordance with Section 47 (Allocation of Surplus Profits) of the Reserve Bank of India Act, 1934.

Does the RBI pay tax on these earnings or profits?

No. Its statute provides exemption from paying income-tax or any other tax, including wealth tax.

Solution: b)

• The World Food Programme (WFP) is the food assistance branch of the United Nations and the world’s largest humanitarian organization addressing hunger and promoting food security.
• The WFP strives to eradicate hunger and malnutrition, with the ultimate goal in mind of eliminating the need for food aid itself.
• It is a member of the United Nations Development Group and part of its Executive Committee.
• The WFP operations are funded by voluntary donations from world governments, corporations and private donors. WFP food aid is also directed to fight micronutrient deficiencies, reduce child mortality, improve maternal health, and combat disease, including HIV and AIDS.

In 2015 the global community adopted the 17 Global Goals for Sustainable Development to improve people’s lives by 2030. Goal 2 – Zero Hunger – pledges to end hunger, achieve food security, improve nutrition and promote sustainable agriculture, and is the priority of the World Food Programme.

Solution: d)

The Lunar Reconnaissance Orbiter (LRO) is a NASA robotic spacecraft currently orbiting the Moon in an eccentric polar mapping orbit. Data collected by LRO has been described as essential for planning NASA’s future human and robotic missions to the Moon. Its detailed mapping program is identifying safe landing sites, locating potential resources on the Moon, characterizing the radiation environment, and demonstrating new technologies.

NASA’s Lunar Reconnaissance Orbiter (LRO) spacecraft has snapped a series of images during its flyby on September 17 of Vikram’s attempted landing site near the moon’s uncharted south pole.

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