QUIZ – 2017: Insights Current Affairs Quiz, 24 October 2019

Solution: c)

With high returns, Senior Citizens Savings Scheme (SCSS) is the simplest investment options for those who are above the age of 60. Designed to benefit the senior citizens, the scheme was launched in 2004. Available through several public and private sector banks and India Post offices.

Any individual who is 60 or above the age of 60 can avail the benefits of Senior Citizens Savings Scheme. Those who have attained the age of 55 years or more but less than 60 years can also open their accounts under this scheme if they have opted for voluntary retirement. Defence personnel who are above the age 50 can also avail this benefit.

Among the various small savings scheme, Senior Citizens Savings Scheme offers the highest rate of interest. Currently, the interest rate is set at 8.6% for July to September quarter, 2019.

Accounts opened under Senior Citizens Savings Scheme has a tenure of five years. One can extend the account for another three years after it matures.

Investments of up to ₹1.5 lakh is eligible for deduction under section 80C of the Income Tax Act. However, interest earned from the scheme is fully taxable. In case, the interest earned is more than ₹40,000 in a financial year, tax deducted at source (TDS) is applicable to the interest earned.

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Solution: b)

According to 7th Constitutional Amendment Act 1956, the same person can be the Governor of two or more states.

Appointment: The governors and lieutenant-governors are appointed by the president.

Removal: The term of governor’s office is normally 5 years but it can be terminated earlier by: Dismissal by the president on the advice of the prime minister of the country, at whose pleasure the governor holds office or Resignation by the governor. Thus, the term is subject to pleasure of the president.

There is no provision of impeachment, as it happens for the president.

Determines the amount payable by the Government of Assam, Meghalaya, Tripura and Mizoram to an autonomous Tribal District Council as royalty accruing from licenses for mineral exploration.

Solution: d)

Automatic Exchange of Information (AEOI) Regime between Switzerland and India kicked off from September 1, 2019. Under this mechanism, India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018.

Automatic Exchange of Information (AEOI) is systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country, which is possible under most of the Double Taxation Avoidance Agreements (DTAAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC).

It aims to reduce global tax evasion.

It is to be carried out under Common Reporting Standard (CRS) of OECD.

AEOI is the exchange of information between countries without having to request it.

Solution: a)

Mobilise Your City (MYC) was launched at 21^st Conference of Parties (COP21) meeting in December, 2015.  India and France have signed an implementation agreement on “MOBILISE YOUR CITY” (MYC).

The MYC aims to reduce the Green House Gas (GHG) emissions related to urban transport by implementing urban mobility plans at local level and to help India at national level to improve their sustainable transport policy.

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Solution: b)

Cyberdome is based at an inconspicuous office on the Technopark campus here in Thiruvananthapuram. It is the Kerala Police Department’s premier facility dedicated to prevent cybercrime and mitigate cybersecurity threats to the State’s critical information infrastructure.

Cyberdome has developed cyber-surveillance tools to detect and convict those responsible for industrial espionage.

Cyberdome has used social engineering as the lynchpin of its policing strategy to snoop on radical groups that use the net for extremist activities.

Cyberdome has launched a covert cyber-surveillance and infiltration programme to crack down on child pornography.

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