QUIZ – 2017: Insights Current Affairs Quiz, 17 JANUARY 2018

Solution: c.

In the literal sense, it means ‘to be certified’ or ‘to be informed’. It is issued by a higher court to a lower court or tribunal either to transfer a case pending with the latter to itself or to squash the order of the latter in a case. It is issued on the grounds of excess of jurisdiction or lack of jurisdiction  or error of law.

Fundamental Rights, Indian Polity by M Laxmikanth;

Improvisation: http://www.thehindu.com/news/national/sc-orders-maharashtra-govt-to-hand-over-documents-related-to-judge-loyas-death-to-petitioners/article22449174.ece

Solution: d.

Statements are self-explanatory.

Public Interest Litigation, Indian Polity by M Laxmikanth (5^th Edition);

Improvisation: http://www.thehindu.com/news/national/sc-questions-pil-plea-on-bofors-guns-pay-off-case/article22452511.ece;

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Solution: c.

Statements ‘a’ and ‘b’ are linked.

Regarding statement ‘c’: Aadhaar is only for residents of India. NRIs are not eligible to get Aadhaar; they are exempted from linking Aadhaar with various services.

UIDAI full-page FAQs, The Hindu (17^th January, 2018);

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Solution: b.

A 2003 report of a Committee on reforms in the criminal justice system that recommended admissibility of confessions made before a police officer as evidence in a court of law is being revisited by the Centre, a senior government official said.. The Committee on Reforms of the Criminal Justice System, or the Justice Malimath Committee, was constituted by the Home Ministry in 2000.

http://www.thehindu.com/news/national/government-to-revisit-malimath-report/article22452298.ece;

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Solution: d.

Lending by commercial banks consists mainly of cash credit, demand and short-term loans to private investors and banks’ investments in government securities and other approved bonds (Government securities made up about 82% of commercial banks’ total investments in the year ended March 2017, and about 84% for state-run banks.)

Money and Banking, Introductory Macroeconomics, Class 12 NCERT;

http://www.livemint.com/Politics/OtRiteE8cxFjH49naqtpGL/Bonds-slide-as-RBI-says-banks-must-manage-own-interest-rate.html;

Improvisation: http://www.thehindu.com/opinion/editorial/face-the-inevitable-the-spike-in-bond-yields/article22451651.ece;

Solution: c.

Reserve Bank of India Deputy Governor Viral Acharya’s observation about the size of the banking sector’s balance-sheet exposure to Government Securities spooked the bond markets recently.

Acharya noted that the interest rate risk on government securities is high in an absolute sense, and that this risk cannot be managed over and over again by the regulator.

Yields on Government Securities (G-Secs) jumped in response, while bond prices fell. Bond prices and yields are inversely correlated.

“The regulator, in the interest of financial stability, is caught in such situations (of episodic phases of sustained rise in G-Sec) between a rock and a hard place, and often obliges,” said Acharya. “However, the trend of regular use of ex-post regulatory dispensation to ease the interest rate risk of banks is not desirable from the point of view of efficient price discovery in the G-Sec market and effective market discipline on the G-Sec issuer. Nor does it augur well for developing a sound risk management culture at banks.”

http://www.thehindubusinessline.com/money-and-banking/rbi-officials-remark-on-banksgsec-exposure-spooks-bonds/article10035793.ece;

http://www.thehindu.com/opinion/editorial/face-the-inevitable-the-spike-in-bond-yields/article22451651.ece;

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