QUIZ – 2017: Insights Current Affairs Quiz, 04 April 2019

Solution: a)

A public credit registry is an information repository that collates all loan information of individuals and corporate borrowers. A credit repository helps banks distinguish between a bad and a good borrower and accordingly offer attractive interest rates to good borrowers and higher interest rates to bad borrowers.

The move is based on the recommendations of a committee, headed by Y.M. Deosthalee. PCR will address issues such as information asymmetry, improve access to credit and strengthen the credit culture among consumers. It can also address the bad loan problem staring at banks, as corporate debtors will not be able to borrow across banks without disclosing existing debt. A PCR may also help raise India’s rank in the global ease of doing business index.

The committee suggested the registry should capture all loan information and borrowers be able to access their own history. Data is to be made available to stakeholders such as banks, on a need-to-know basis.

PCR in other countries now include other transactional data such as payments to utilities like power and telecom for retail consumers and trade credit data for businesses. Regularity in making payments to utilities and trade creditors provides an indication of the credit quality of such customers.

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Solution: b)

Statement 1 – Article 370 of the Indian Constitution is a ‘temporary provision’ which grants special autonomous status to Jammu & Kashmir.

Statement 2- According to this article, except for defence, foreign affairs, finance and communications, Parliament needs the state government’s concurrence for applying all other laws.

Statement 3 – Part IV (Directive Principles of the State Policy) and Part IVA (Fundamental Duties) of the Constitution are not applicable to J&K.

Statement 4 – The power to make laws related to preventive detention in Jammu and Kashmir belong to the Legislature of J & K and not the Indian Parliament. Thus, no preventive detention law made in India extends to Jammu & Kashmir.

Solution: d)

SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.

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Solution: b)

Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries to developing countries (also known as preference receiving countries or beneficiary countries). It is a preferential arrangement in the sense that it allows concessional low/zero tariff imports from developing countries.

Developed countries including the US, EU, UK, Japan etc., gives GSPs to imports from developing countries. GSP involves reduced/zero tariffs of eligible products exported by beneficiary countries to the markets of GSP providing countries.

The US has a strong GSP regime for developing countries since its launch in 1976, by the Trade Act of 1974. In the past, thousands of products were imported from nearly 120 designated beneficiary countries and territories.

The Trump administration’s decision to withdraw India’s Generalized System of Preferences (GSP) benefits adversely affects the broader strategic relationship with India.

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Solution: c)

The Ministry of Road Transport and Highways has inventorized 1,72,517 bridges/structures under Indian Bridge Management System (IBMS). IBMS is the largest platform in the world owned by a single owner, with database that could exceed 1,50,000 bridge structures.

In addition to the structural rating, the bridges are also being assigned Socio-Economic Bridge Rating Number which will decide the importance of the structure in relation to its contribution to daily socio-economic activity of the area in its vicinity.

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