[Mission 2023] Current Affairs Quiz ,2 December 2022

Solution: a)

Writing off a loan essentially means it will no longer be counted as an asset. By writing off loans, a bank can reduce the level of non-performing assets (NPAs) on its books. An additional benefit is that the amount so written off reduces the bank’s tax liability.

The bank writes off a loan after the borrower has defaulted on the loan repayment and there is a very low chance of recovery. The lender then moves the defaulted loan, or NPA, out of the assets side and reports the amount as a loss.

After the write-off, banks are supposed to continue their efforts to recover the loan using various options. They have to make provisioning as well. The tax liability will also come down as the written-off amount is reduced from the profit.

However, the chances of recovery from written-off loans are very low.

Private banks wrote off loans worth Rs 2,74,772 crore in the last five years in their effort to bring down NPAs and whitewash their balance sheets.

Public sector banks reported the lion’s share of write-offs at Rs 734,738 crore accounting for 72.78 per cent of the exercise.

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Solution: c)

FIFA has implemented what they call “semi-automated offside technology” this World Cup. 

According to FIFA, “The new technology uses 12 dedicated tracking cameras mounted underneath the roof of the stadium to track the ball and up to 29 data points of each individual player, 50 times per second, calculating their exact position on the pitch. The 29 collected data points include all limbs and extremities that are relevant for making offside calls.”

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Solution: c)

A fault is a place with a long break in the rock that forms the surface of the earth. When an earthquake occurs on one of these faults, the rock on one side of the fault slips with respect to the other.

Does Indonesia usually have earthquakes like this?

The country of more than 270 million people is frequently struck by earthquakes, volcanic eruptions and tsunamis because of its location on the arc of volcanoes and fault lines in the Pacific Basin known as the “Ring of Fire.” The area spans some 40,000 kilometers (25,000 miles) and is where a majority of the world’s earthquakes occur.

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Solution: a)

The Ahom kings ruled large parts of what is now known as Assam for nearly 600 years, from the early 13th century to the early 19th century. This was a prosperous, multi-ethnic kingdom which spread across the upper and lower reaches of the Brahmaputra valley, surviving on rice cultivation in its fertile lands.

The Ahoms engaged in a series of conflicts with the Mughals from 1615-1682, starting from the reign of Jahangir till the reign of Aurangzeb. One of the major early military conflicts was in January 1662, where the Mughals won a partial victory, conquering parts of Assam and briefly occupying Garhgaon, the Ahom capital.

The counter-offensive to reclaim lost Ahom territories started under Ahom King Swargadeo Chakradhwaja Singha. After the Ahoms enjoyed some initial victories, Aurangzeb dispatched Raja Ram Singh I of Jaipur in 1669 to recapture the lost territory — eventually resulting in the Battle of Saraighat in 1671.

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Solution: d)

The community forest resource area is the common forest land that has been traditionally protected and conserved for sustainable use by a particular community. The community uses it to access resources available within the traditional and customary boundary of the village; and for seasonal use of landscape in case of pastoralist communities.

Each CFR area has a customary boundary with identifiable landmarks recognised by the community and its neighboring villages. It may include forest of any category – revenue forest, classified & unclassified forest, deemed forest, reserve forest, protected forest, sanctuary and national parks etc.