QUIZ – 2017: Insights Current Affairs Quiz, 08 June 2019

Solution: C

Repurchase Options or in short Repo, is a money market instrument, which enables collateralised short term borrowing and lending through sale/purchase operations in debt instruments. This is an instrument used by the Central Bank and banking institutions to manage their daily / short term liquidity.

Legal Definition

A legal definition of ‘repo’ and ‘reverse repo’ was inserted as sub-sections (c) and (d) of section 45 U of Chapter III D of the Reserve Bank of India (RBI) Act, 1934, vide The Reserve Bank of India (Amendment) Act, 2006 (w.e.f. 9.1.2007). Thus,

“repo” means an instrument for borrowing funds by selling securities with an agreement to repurchase the securities on a mutually agreed future date at an agreed price which includes interest for the funds borrowed;

“reverse repo” means an instrument for lending funds by purchasing securities with an agreement to resell the securities on a mutually agreed future date at an agreed price which includes interest for the funds lent.”

In News: SBI to offer home loan linked to repo rate

Solution: C

10% EWS reservation quota is given only for the General Category candidates. Other category candidates already have reservation benefits – OBC (27%), SC (15%), and ST (7.5%).

In News: EWS: only 3,235 apply for admissions

Solution: B

http://vikaspedia.in/health/nrhm/national-health-mission/ayushman-bharat2013national-health-protection-mission

In News: Delhi’s health scheme 10 times bigger than Ayushman Bharat

Solution: D

Criteria to give status of Special Category States;

1. The state which is facing the problem of resources crunch
2. Low per capita income
3. Non-viable nature of state finances
4. Economic and infrastructural backwardness
5. Presence of sizeable tribal population
6. Hilly and difficult terrain
7. Strategic location along international borders
8. Low population density

In News: A.P. BJP chief rules out special status for State.

Solution: C

NITI Aayog was formed via a resolution of the Cabinet

The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015. NITI Aayog is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs. While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.

The Government of India, in keeping with its reform agenda, constituted the NITI Aayog to replace the Planning Commission instituted in 1950. This was done in order to better serve the needs and aspirations of the people of India. An important evolutionary change from the past, NITI Aayog acts as the quintessential platform of the Government of India to bring States to act together in national interest, and thereby fosters Cooperative Federalism.

https://niti.gov.in/content/functions

In News: Mamata to skip NITI Aayog meeting