QUIZ – 2017: Insights Current Affairs Quiz,05 March 2019

Solution: b)

PCA norms allow the regulator to place certain restrictions such as halting branch expansion and stopping dividend payment. It can even cap a bank’s lending limit to one entity or sector. Other corrective action that can be imposed on banks include special audit, restructuring operations and activation of recovery plan. Banks’ promoters can be asked to bring in new management, too. The RBI can also supersede the bank’s board, under PCA.

There are two type of restrictions, mandatory and discretionary. Restrictions on dividend, branch expansion, directors compensation, are mandatory while discretionary restrictions could include curbs on lending and deposit.

Banks are not allowed to re new or access costly deposits or take steps to increase their fee-based income. Banks will also have to launch a special drive to reduce the stock of NPAs and contain generation of fresh NPAs. They will also not be allowed to enter into new lines of business. RBI will also impose restrictions on the bank on borrowings from interbank market.

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Solution: d)

Anak Krakatoa is an island in a caldera in the Sunda Strait situated between the islands of Java and Sumatra in the Indonesia.

Solution: b)

Yellow vests movement is a populist, grassroots political movement for economic justice that began in France in November 2018. The movement is motivated by rising fuel prices, high cost of living, and claims that a disproportionate burden of the government’s tax reforms were falling on the working and middle classes, especially in rural and peri-urban areas.

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            Solution: c)

The MSP for MFP scheme was started by the Centre in 2013 to ensure fair and remunerative prices to MFP gatherers. From November 2016, the scheme is applicable in all States.

Ministry of Tribal Affairs, Government of India is the Nodal Ministry for implementation of the scheme which will announce Minimum Support Price (MSP) for the selected MFPs with the technical support from TRIFED.

• TRIFED will act as the Central Nodal Agency for implementation and monitoring of the scheme through State level implementing agencies.
• State designated agencies will undertake procurement of notified MFPs directly from MFP gatherers (individual or collectives) at haats notified procurement centers at grass root level at prefixed Minimum Support Price and ensure full & timely on the spot payment to MFP gatherers.

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Solution: d)

The Ministry of Commerce & Industry launched National Mission on GeM (NMG) on 5th September 2018. The objective of the Mission was to accelerate the adoption and use of Procurement by Major Central Ministries, States and UTs and their agencies (including CPSUs/PSUs, Local Bodies) on the GeM platform.

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