QUIZ – 2017: Insights Current Affairs Quiz, 15 June 2017

Solution: a.

• The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.
• It will pave the way for setting up of the Resolution Corporation. It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill. It will also result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 to transfer the deposit insurance powers and responsibilities to the Resolution Corporation.
• The Government has recently enacted the Insolvency and Bankruptcy Code, 2016 (“Code”) for the insolvency resolution of non- financial entities. The proposed Bill complements the Code by providing a resolution framework for the financial sector.
• It also aims to inculcate discipline among financial service providers in the event of financial crises by limiting the use of public money to bail out distressed entities. It would help in maintaining financial stability in the economy by ensuring adequate preventive measures, while at the same time providing the necessary instruments for dealing with an event of crisis.

PIB: Cabninet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017;

ET;

Solution: c.

• The Central Government will provide interest subvention of 5 per cent per annum to all prompt payee farmers for short term crop loan upto one year for loan upto Rs. 3 lakhs borrowed by them during the year 2017-18. Farmers will thus have to effectively pay only 4% as interest. In case farmers do not repay the short term crop loan in time they would be eligible for interest subvention of 2% as against 5% available above.
• In order to give relief to small and marginal farmers who would have to borrow at 9% for the post harvest storage of their produce, the Central Government has approved an interest subvention of 2% i.e. an effective interest rate of 7% for loans upto 6 months.
• To provide relief to the farmers affected by natural calamities, the interest subvention of 2% will be provided to Banks for the first year on the restructured amount.
• The interest subvention will be given to Public Sector Banks (PSBs), Private Sector Banks, Cooperative Banks and Regional Rural Banks (RRBs) on use of own funds and to NABARD for refinance to RRBs and Cooperative Banks.
• It will be implemented by NABARD and RBI.

PIB: Cabinet approves ISS to banks on Short-Term crop loans to farmers;

TH;

Solution: d.

• This is going to be the biggest investment in Australia by an Indian company ever, and will generate many jobs across the Queensland state.

• BBC: Adani gives ‘green light’ for controversial Australia coal mine;
  Critics including environmentalists have warned that the vast quantities of coal expected to be extracted from the mine will exacerbate global warming and threaten the already ailing Great Barrier Reef.

Solution: d.

“.. Brand India will be standing parallel with Brand ANUGA in Cologne, Germany”, said the Minister. Smt Badal said infact Germany could be invited to partner in World Food India to be organized shortly by the Government of India. The Minister recognised the importance for India to be showcasing its strength in Food Processing Industries by participating in various International Food Exhibitions like SIAL in France and ANUGA in Germany…”

PIB: India to be co-partner country in ANUGA 2017;

Solution: a.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said, “ Mission Retro-Fitment is an ambitious program to upgrade the level of furnishing & amenities in the coaches of Indian Railways. This is one of the largest retro fitment project in the world as Indian Railways’ 40,000 coaches will be refurbished and retrofitted in the next five years..”

PIB;

Solution: d.

• The temples built in the 12-13th centuries under the patronage of the Hoysalas of Mysore, are at Somnathpur, Belur and Halebid.
• The well-known Kesava temple at Somnathpur, and the Hoysala temple at Halebid and Belur are veritable treasure houses of ornamental and decorative elements, carved in niches, and intricate vegetal and floral carvings.
• The materials used are soapstone, granite, schist stone and wood; sculptures are carved on schist stone which is soft when quarried but hardens when exposed to air, thus preserving the fine details for a long period.
• The vimana is of a star shaped plan with salients and reentering angles with mouldings, multiplication and over-decoration. Not an inch of space is left uncarved and there are animals and other denizens of the forest shown on the lower most three or four mouldings, interspersed with floral and creeper designs and, above them all, in more than life size, are shown huge sculptural representations of gods and goddesses, completely covered with by lavish decorations and rich ornaments.

Mrunal;  CCRT;

Improvisation: TH: A monumental tribute to Hoysala architecture, in size and time;