QUIZ – 2017: Insights Current Affairs Quiz, 14 November 2019

Solution: d)

The New Arrangement to Borrow is the fund mobilization arrangement of the IMF to mobilise additional funds through borrowing from member countries. Under NAB, member countries and institutions can stand ready to lend to the Fund.

Source

Solution: c)

Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) is an old age pension scheme for all land holding Small and Marginal Farmers (SMFs) in the country. It is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years.

1. A monthly pension of Rs. 3000/– will be provided to them on attaining the age of 60 years. The spouse is also eligible to get a separate pension of Rs.3000/- upon making separate contributions to the Fund.
2. Initial contribution: The farmers will have to make a monthly contribution of Rs.55 to Rs.200, depending on their age of entry, in the Pension Fund till they reach the retirement date i.e. the age of 60 years.
3. The Central Government will also make an equal contribution of the same amount in the pension fund.
4. The Life Insurance Corporation of India (LIC) shall be the Pension Fund Manager and responsible for Pension pay out.
5. If there is no spouse, then total contribution along with interest will be paid to the nominee.
6. If the farmer dies after the retirement date, the spouse will receive 50% of the pension as Family Pension.
7. After the death of both the farmer and the spouse, the accumulated corpus shall be credited back to the Pension Fund.
8. The beneficiaries may opt voluntarily to exit the Scheme after a minimum period of 5 years of regular contributions.
9. In case of default in making regular contributions, the beneficiaries are allowed to regularize the contributions by paying the outstanding dues along with prescribed interest.

The farmers, who are also beneficiaries of PM-Kisan Scheme, will have the option to allow their contribution debited from the benefit of that Scheme directly.

Source

Solution: c)

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.

• The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
• It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.

Functions:

• It offers an array of debt and equity financing services and helps companies face their risk exposures, while refraining from participating in a management capacity.
• The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible.
• It advises governments on building infrastructure and partnerships to further support private sector development.

Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.

Source

Solution: b)

Ethanol, an anhydrous ethyl alcohol having chemical formula of C₂H₅OH, can be produced from sugarcane, maize, wheat, etc which are having high starch content. In India, ethanol is mainly produced from sugarcane molasses by fermentation process. Ethanol can be mixed with gasoline to form different blends. As the ethanol molecule contains oxygen, it allows the engine to more completely combust the fuel, resulting in fewer emissions and thereby reducing the occurrence of environmental pollution. Since ethanol is produced from plants that harness the power of the sun, ethanol is also considered as renewable fuel.

Source

Solution: a)

Source