QUIZ – 2017: Insights Current Affairs Quiz, 19 June 2019

Solution: d)

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).

The Convention will modify India’s treaties in order to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out and where value is created.

The Multilateral Convention is an outcome of the OECD / G20 Project to tackle Base Erosion and Profit Shifting (the “BEPS Project”) i.e., tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no tax being paid.

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Solution: b)

The Shanghai Cooperation Organisation, also known as the Shanghai Pact, is a Eurasian political, economic, and military organisation which was founded in 2001 in Shanghai.

The SCO comprises eight member states, namely the Republic of India, the Republic of Kazakhstan, the People’s Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan;

The SCO counts four observer states, namely the Islamic Republic of Afghanistan, the Republic of Belarus, the Islamic Republic of Iran and the Republic of Mongolia.

The SCO has six dialogue partners, namely the Republic of Azerbaijan, the Republic of Armenia, the Kingdom of Cambodia, the Federal Democratic Republic of Nepal, the Republic of Turkey, and the Democratic Socialist Republic of Sri Lanka.

19^th Shanghai Cooperation Organisation’s (SCO’s) Heads of State summit was recently held in Bishkek, Kyrgyzstan. The Bishkek Declaration was finalised in the summit.

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            Solution: d)

UK Home Secretary has issued another personal apology for the Windrush scandal, involving migrants being wrongly denied their British citizenship rights, as a latest official update revealed that hundreds more Indians were caught up in the row.

The Windrush Scheme enables Commonwealth citizens, their children, and some other long term residents of the UK to obtain documentation confirming their status free of charge.

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Solution: c)

The World Organization of Animal Health, commonly known as OIE (an abbreviation of its French title), summarises the One Health concept as “human health and animal health are interdependent and bound to the health of the ecosystems in which they exist”.

The philosophy of One Health recognises inter-connectivity among human health, the health of animals, and the environment.

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Solution: d)

Project Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks.