The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2021. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT AFFAIRS QUIZ 2020
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 pointsConsider the following statements regarding Hedge Funds.
- Hedge funds are included in the category of Alternative Investment Fund (AIF).
- These funds are not regulated by SEBI.
Which of the above statements is/are correct?
Correct
Solution: a)
Hedge funds are included under Category III Alternative Investment Fund (AIFs). These are regulated by SEBI.
Incorrect
Solution: a)
Hedge funds are included under Category III Alternative Investment Fund (AIFs). These are regulated by SEBI.
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Question 2 of 5
2. Question
1 pointsConsider the following statements regarding RBI’s co-lending model.
- It is the revised version of RBI’s co-origination of loans scheme.
- Under the RBI’s co-lending model, banks are permitted to co-lend with all registered NBFCs based on a prior agreement.
- NBFCs are required to retain a minimum of 50 percent share of individual loans on their books.
Which of the above statements is/are correct?
Correct
Solution: b)
In November 2020 the Reserve Bank of India (RBI) decided to permit banks to “co-lend with all registered NBFCs (including HFCs) based on a prior agreement”.
In September 2018, the RBI had announced “co-origination of loans” by banks and Non-Banking Financial Companies (NBFCs) for lending to the priority sector. “The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.
The primary focus of the revised scheme, rechristened as ‘Co-Lending Model’ (CLM), was to “improve the flow of credit to the unserved and underserved sector of the economy and make available funds to the ultimate beneficiary at an affordable cost.
Under the CLM, NBFCs are required to retain at least a 20 per cent share of individual loans on their books. This means 80 per cent of the risk will be with the banks — who will take the big hit in case of a default.
Incorrect
Solution: b)
In November 2020 the Reserve Bank of India (RBI) decided to permit banks to “co-lend with all registered NBFCs (including HFCs) based on a prior agreement”.
In September 2018, the RBI had announced “co-origination of loans” by banks and Non-Banking Financial Companies (NBFCs) for lending to the priority sector. “The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.
The primary focus of the revised scheme, rechristened as ‘Co-Lending Model’ (CLM), was to “improve the flow of credit to the unserved and underserved sector of the economy and make available funds to the ultimate beneficiary at an affordable cost.
Under the CLM, NBFCs are required to retain at least a 20 per cent share of individual loans on their books. This means 80 per cent of the risk will be with the banks — who will take the big hit in case of a default.
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Question 3 of 5
3. Question
1 pointsNational Institute Ranking Framework (NIRF) assesses education institutions on which of the following parameters?
- Teaching, learning and resources
- Research and professional practices
- Graduation outcomes
- Outreach and inclusivity
Select the correct answer code:
Correct
Solution: d)
In order to be ranked, all education institutions are assessed on five parameters: teaching, learning and resources, research and professional practices, graduation outcomes, outreach and inclusivity, and perception.
Incorrect
Solution: d)
In order to be ranked, all education institutions are assessed on five parameters: teaching, learning and resources, research and professional practices, graduation outcomes, outreach and inclusivity, and perception.
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Question 4 of 5
4. Question
1 pointsConsider the following statements regarding Essential Commodities Act.
- The Essential Commodities Act is an act of Parliament of India which was established to ensure the delivery of certain commodities or products, the supply of which if obstructed owing to hoarding or blackmarketing would affect the normal life of the people.
- The states can include new commodities as and when the need arises, and only the centre can take them off the list once the situation improves.
- The act empowers Central and State Governments concurrently to control production, supply and distribution of certain commodities when their prices rise.
Which of the above statements is/are incorrect?
Correct
Solution: a)
The Essential Commodities Act is an act of Parliament of India which was established to ensure the delivery of certain commodities or products, the supply of which if obstructed owing to hoarding or blackmarketing would affect the normal life of the people.
Additionally, the government can also fix the maximum retail price (MRP) of any packaged product that it declares an “essential commodity”.
The Centre can include new commodities as and when the need arises, and take them off the list once the situation improves.
The act empowers Central and State Governments concurrently to control production, supply and distribution of certain commodities in view of rising pricing. When difference arise between Centre and States, the act specifies that the Centre will prevail.
Incorrect
Solution: a)
The Essential Commodities Act is an act of Parliament of India which was established to ensure the delivery of certain commodities or products, the supply of which if obstructed owing to hoarding or blackmarketing would affect the normal life of the people.
Additionally, the government can also fix the maximum retail price (MRP) of any packaged product that it declares an “essential commodity”.
The Centre can include new commodities as and when the need arises, and take them off the list once the situation improves.
The act empowers Central and State Governments concurrently to control production, supply and distribution of certain commodities in view of rising pricing. When difference arise between Centre and States, the act specifies that the Centre will prevail.
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Question 5 of 5
5. Question
1 pointsMount Manipur, recently seen in news is located in
Correct
Solution: c)
The Union government rechristened Mount Harriet, a historical tourist spot in the Andaman and Nicobar Islands, as ‘Mount Manipur’.
After the Anglo-Manipur War of 1891, several Manipuris who had fought the British in the war, including Maharaja Kulachandra Dhwaja Singh, were exiled to the British penal colony in the Andaman Islands. Since the cellular jail (Kalapani) was yet to be built, Kulachandra and the prisoners were kept on Mount Harriet, a hillock in what is now the Ferragunj tehsil of South Andaman district.
Incorrect
Solution: c)
The Union government rechristened Mount Harriet, a historical tourist spot in the Andaman and Nicobar Islands, as ‘Mount Manipur’.
After the Anglo-Manipur War of 1891, several Manipuris who had fought the British in the war, including Maharaja Kulachandra Dhwaja Singh, were exiled to the British penal colony in the Andaman Islands. Since the cellular jail (Kalapani) was yet to be built, Kulachandra and the prisoners were kept on Mount Harriet, a hillock in what is now the Ferragunj tehsil of South Andaman district.
