DAY – 37 ( INSTA REVISION TEST)INSTA REVISION PLAN 3.0, 2020

Solution: D

Indian Navy and Bharat Dynamics Limited (BDL) have signed a contract for supply of heavyweight torpedo Varunastra to Indian Navy. Varunastra is basically a ship-launched, electrically propelled underwater weapon equipped with one of the most advanced automatic and remote controlled guidance systems.

It is the only torpedo in the world to have a GPS based locating aid. The anti-submarine electric torpedo when fired can travel at 40 knots, or 74 kmph.

The weapon has been jointly developed by the Naval Science and Technology Laboratory (NTSL), Visakhapatnam and the Bharat Dynamics Limited – BDL (Hyderabad).

Solution: B

The coat of Asiatic golden cat comes in five other shades besides the golden colour in Arunachal Pradesh, scientists have discovered. Its coat comes in six types: cinnamon, golden, gray, melanistic, ocelot and tightly rosetted.

The Asiatic golden cat (Catopuma temminckii) is listed as near threatened on the International Union for Conservation of Nature’s Red List of threatened species.

It is found across eastern Nepal through northeastern India to Indonesia.

Solution: D

Puerto Williams in Chile has become world’s southernmost city after its status upgraded from hamlet to city. It is the main settlement, port and naval base on Navarino Island in Chile. It took over the title from Ushuaia in Argentina which was world’s southernmost city till recently. Puerto Williams faces the Beagle Channel, which is a strait in Tierra del Fuego Archipelago (shared by Chile and Argentina) on South America’s extreme southern tip.

Solution: D

National Payments Corporation of India (NPCI), an umbrella organization for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.

Solution: D

Solution: B

Merchant Discount Rate (alternatively referred to as the Transaction Discount Rate or TDR) is the sum total of all the charges and taxes that a digital payment entails.

What is MDR?

Merchant Discount Rate (alternatively referred to as the Transaction Discount Rate or TDR) is the sum total of all the charges and taxes that a digital payment entails. For instance, the MDR includes bank charges, which a bank charges customers and merchants for allowing payments to be made digitally. Similarly, MDR also includes the processing charges that a payments aggregator has to pay to online or mobile wallets or indeed to banks for their service.

Solution: A

As part of Aatmanirbhar Bharat Abhiyan, announced by the Government, Partial Credit Guarantee Scheme (PCGS) 2.0   was launched on 20.05.2020 to provide Portfolio Guarantee for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below issued by NBFCs/HFCs/ MFIs by Public Sector Banks (PSBs). It was envisaged to purchase Bonds/ CPs of Rs. 45,000 crore under PCGS 2.0 of which the maximum headroom permissible for purchase of Bonds/ CPs rated AA/AA- was 25% of the total portfolio i.e. Rs. 11,250 crore. In addition, the Government had separately announced the Special Liquidity Scheme for purchase of Commercial Papers (CPs) and Non-Convertible Debentures (NCDs) issued by NBFCs/HFCs with a residual maturity of upto 3 months, which could be extended for a further period of upto 3 months, of a total value not exceeding Rs. 30,000 crore to be extended by the amount required as per need.

Under PCGS 2.0, PSBs have approved purchase of Bonds/ CPs rated AA/AA- issued by 28 entities and Bonds/CPs rated below AA- issued by 62 entities, amounting to Rs. 21,262 crore overall. The average ticket size of Bonds/CPs rated below AA- is significantly lower than the average ticket size of Bonds/CPs rated AA/AA-.Under SLS, proposals of Rs. 7,464 crore have been approved for purchase so far.

Solution: D

United Nations Conference on Trade and Development (UNCTAD) has released the Digital Economy Report 2019.

Facts:

About the report:

• The report outlines enormous potential gains from the increasingly interconnected global economy but calls for concerted global efforts to spread the wealth potential to the many people who currently reap little benefit from it.
• The report said that the United States and China create the vast majority of wealth in the digital economy as the two countries account for 75% of all patents related to blockchain technologies and as much as 90% per cent of the market capitalization value of the world’s 70 largest digital platform companies.
• According to the report, India generated the ninth-highest e-commerce sales globally in 2017 by generating a total business of $400 billion. The contribution of this to GDP was 15%.
• Further, the report has also said that the only way for developing countries to exercise effective economic ownership and control over the data generated in their territories was to push on mandatory data localization.

Within the UNCTAD Division on Technology and Logistics, the ICT Policy Section carries out policy-oriented analytical work on the development implications of information and communications technologies (ICTs) and e-commerce. It is responsible for the preparation of the Digital Economy Report, previously known as the Information Economy Report.

Solution: A

National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web-based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc.

National Automated Clearing House (NACH) is a centralized system, launched with an aim to consolidate multiple ECS systems running across the country and provides a framework for the harmonization of standard & practices and removes local barriers/inhibitors. NACH system will provide a national footprint and is expected to cover the entire core banking enabled bank branches spread across the geography of the country irrespective of the location of the bank branch.

Solution: D

Cabinet approves 2880 MW Dibang Multipurpose Project in Arunachal Pradesh Rs. 1600cr expenditure approved. Dibang Multipurpose Project (Dibang MPP) is envisaged as a storage-based hydro-electric project with flood moderation as the key objective.

This is the largest ever Hydro Electric Projects to be constructed in India. The dam is 278 metres high and will be the highest dam in India once completed.

The Project is located on river Dibang, in Lower Dibang Valley District of Arunachal Pradesh.

Solution: B

Border Security Force (BSF) has launched a massive exercise, code named as Sudarshan, to fortify Anti-Infiltration Grid along Pakistan border in Punjab and Jammu.

Solution: A

Generalised System of Preferences (GSP) is a U.S. trade program designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 4,800 products from 129 designated beneficiary countries and territories.

The objective of GSP was to give development support to poor countries by promoting exports from them into the developed countries. GSP promotes sustainable development in beneficiary countries by helping these countries to increase and diversify their trade with the United States.

Under the normal trade laws, the WTO members must give equal preferences to trade partners. There should not be any discrimination between countries. This trade rule under the WTO is called the Most Favored Nation (MFN) clause.

Solution: B

The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 on theinitiative of the G7. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

Solution: A

The National Anti-Profiteering Authority (NAA) has been constituted under Section 171 of the Central Goods and Services Tax Act, 2017.

The Authority’s main function is to ensure that traders are not realizing unfair profit by charging high price from consumers in the name of GST. The Authority’s core function is to ensure that the benefits of the reduction is GST rates on goods and services made by GST Council and proportional change in the Input tax credit passed on to the ultimate consumers and recipient respectively by way of reduction in the prices by the suppliers.

The National Anti-Profiteering Authority shall be headed by a senior officer of the level of a Secretary to the Government of India and shall have four technical members from the Centre and/or the States.

Solution: C

Four countries from Asia — China, Iran, Malaysia and Timor-Leste — and one from Central America — El Salvador — reported no indigenous cases of malaria in 2018, according to the World Health Organization (WHO).

The countries were part of the global health body’s E-2020 initiative, launched in 2016, working in 21 countries, spanning five regions, to scale up efforts to achieve malaria elimination by 2020.

Creating a malaria-free world is a bold and important public health and sustainable development goal. It is also the vision of the Global technical strategy for malaria 2016-2030, which calls for the elimination of malaria in at least 10 countries by the year 2020.

Solution: A

Tribal Cooperative Marketing Development Federation

The Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), was set up in 1987 as a national level apex body under the Multi State Cooperative Societies Act, 1984 (MSCS Act, 1984).

The Tribal Cooperative Marketing Development Federation of India (TRIFED) came into existence in 1987.

It is a national-level apex organization functioning under the administrative control of Ministry of Tribal Affairs, Govt. of India.

Solution: A

A National Council for Senior Citizens, headed by the Minister for Social Justice and Empowerment will be constituted by the Ministry of Social Justice & Empowerment.

With tenure of five years, the Council will monitor the implementation of the policy and advise the government on concerns of senior citizens. A similar body would be established in every state with the concerned minister heading the State Council for Senior Citizens.

• The Council would include representatives of relevant central ministries, the Planning Commission and ten states by rotation.
• Representatives of senior citizens associations from every state and Union Territory.
• Representatives of NGOs, academia, media and experts on ageing.
• The council would meet once in six months.

Solution: D

National Centre for Antarctic and Ocean Research (NCAOR), Goa, under the Ministry of Earth Sciences has established a high altitude research station in Himalaya called HIMANSH. HIMANSH is a dedicated Research Station established at Sutri Dhaka, Chandra Basin, Lahaul-Spiti valley of Himachal Pradesh which has an altitude of 4080 m amsl.

Objectives:  To facilitate Himalayan Cryo-sphere Studies in Chandra basin to study the dynamics and the rate of change of Himalayan glaciers to understand its impact on hydrology and climate.

Solution: C

National Film Heritage Mission (NFHM)

The National Film Heritage Mission is an important initiative of the I&B Ministry to preserve and conserve country’s cinematic heritage.

The broader objectives under NFHM are to undertake film condition assessment and preventive conservation of around 150,000 film reels, digitization of around 3500 films, picture & sound restoration of around 2000 landmark films of Indian cinema, construction of preservation and conservation facilities (vaults), training and workshops and creating a comprehensive web-based end to end IT solutions.

National Film Archive of India (NFAI) is the nodal organization for the implementation of this project.

Solution: A

Press Council of India

• It was first set up in the year 1966 by the Parliament with the object of preserving the freedom of the press and of maintaining and improving the standards of press in India.
• The present Council functions under the Press Council Act, 1978.
• It is a statutory, quasi-judicial authority functioning as a watchdog of the press, for the press and by the press.
• It adjudicates the complaints against and by the press for violation of ethics and for violation of the freedom of the press respectively.

Composition

The Press Council is headed by a Chairman, who has by convention, been a retired judge of the Supreme Court of India.

The PCI only overviews the functioning of press media. That is, it can enforce standards upon newspapers, journals, magazines and other forms of print media.  It does not have the power to review the functioning of the electronic media like radio, television and internet media.

Solution: C

National IPR Policy is a vision document that aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies. It sets in place an institutional mechanism for implementation, monitoring and review. It aims to incorporate and adapt global best practices to the Indian scenario.

The Policy aims to realize IPR’s as a marketable financial asset, promote innovation and entrepreneurship, while protecting public interest. 

In order to have strong and effective IPR laws, steps would be taken — including review of existing IP laws — to update and improve them or to remove anomalies and inconsistencies. The policy is entirely compliant with the WTO’s agreement on TRIPS.

Solution: C

RuPay is an Indigenously developed Payment System – designed to meet the expectation and needs of the Indian consumer, banks and merchant eco-system.
RuPay supports the issuance of debit, credit and prepaid cards by banks in India and thereby supporting the growth of retail electronic payments in India.
RuPay is well poised to explore innovative payment opportunities such as Contactless – offline and online to drive adoption of low value payments. All RuPay Cards will now have the functionality of NCMC which can enable low value contactless payments (like transit, toll, parking, retail) using Offline technology.

Solution: C

The Digidhan campaign one of its kind will travel across districts at pan India level to educate citizens for adopting digital payment modes.

The DigiDhan Melas being held across India aims to handhold users in downloading, installing and using various digital payment systems for carrying out digital transactions. The initiative plans to enable citizens and merchants to undertake real time digital transactions through the DigiDhan Bazaar.

DigiDhanMela will be followed up by camps organised at state level and at bank branch levels. This Mela is primarily targeted at urban populace and looks to supplement the rural effort of promoting digital payments being led by the Common Services Centres. The Mela is providing free WiFi to enable citizens to download and install mobile apps for aiding on the spot digital payments.

Solution: C

NREGA-SOFT

NREGAsoft envisions implementing e-Governance across State, District and three tiers of Panchayati Raj Institutions. It empowers the common man using the information technology as a facilitator. NREGAsoft provides information to citizen in compliance with the right to information Act (RTI Act). It makes available all the documents like Muster Rolls, registration application register, job card/employment register/muster roll issue register, muster roll receipt register which are hidden from public otherwise.

With afore stated governance business scope, initially in 200 districts which got subsequently extended to 330 and finally to all rural districts across the country, NIC, along with Ministry of Rural Development and other stakeholders, conceptualized web enabled management information system (i.e. NREGASoft) to address the planning & monitoring needs of scheme. Long association & experience of NIC with rural development processes and engagement with computerization of RD schemes at various levels proved to be valuable factor in designing NREGASoft. The first version of NREGASoft was launched along with the launch of the scheme. NREGAsoft is a local language enabled work flow-based e-Governance system and is available in offline as well as online mode to capture all the activities under NREGA at Center/State/District/Block and Panchayat level. NREGAsoft has been prepared and deployed at http://www.nrega.nic.in., by NIC in collaboration with Ministry of Rural Development. Each stakeholder can access revelant information through the portal.

Solution: B

Ebiz

About. eBiz is being implemented by Infosys Technologies Limited (Infosys) under the guidance and aegis of Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India. The focus of eBiz is to improve the business environment in the country by enabling fast and efficient access to Government-to-Business (G2B) services through an online portal. This will help in reducing unnecessary delays in various regulatory processes required to start and run businesses.

About eBiz:

eBiz is one of the integrated services projects and part of the 27 Mission Mode Projects (MMPs) under the National E-Governance Plan (NEGP) of the Government of India.

Implementation: eBiz is being implemented by Infosys Technologies Limited (Infosys) under the guidance and aegis of Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India.

The focus of eBiz is to improve the business environment in the country by enabling fast and efficient access to Government-to-Business (G2B) services through an online portal. This will help in reducing unnecessary delays in various regulatory processes required to start and run businesses.

Aim: This project aims at creating an investor-friendly business environment in India by making all regulatory information – starting from the establishment of a business, through its ongoing operations, and even its possible closure – easily available to the various stakeholders concerned. In effect, it aims to develop a transparent, efficient and convenient interface, through which the government and businesses can interact in a timely and cost-effective manner, in the future.