[Mission 2023] QUED ( Questions from Editorials ) 1 April 2023

Solution: b)

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I has raised Rs 15,530 crore so far to provide priority debt financing for the completion of stressed, brownfield and Real Estate Regulatory Authority (RERA)-registered residential projects that fall in the affordable, mid-income housing category.

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is a social impact fund specifically formed for completing stressed and stalled residential projects.

The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company.

Since the Fund considers first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, and even projects where there are litigation issues, it is considered as the lender of last resort for distressed projects. The Fund’s presence in a project often acts as a catalyst for better collections and sales primarily in projects that were delayed for years.

Source

Solution: d)

Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

Solution: b)

The sources of arsenic are natural or may partly stem from anthropogenic activities like intense exploitation of groundwater, application of fertilizers, burning of coal and leaching of metals from coal-ash tailings.

Arsenic is introduced into soil and groundwater during weathering of rocks and minerals followed by subsequent leaching and runoff.

Among the various arsenic removal technologies, lime softening and iron coprecipitation have been reported to be the most effective.

Solution: a)

For those on Earth, Venus is the second-brightest object in the sky after the moon. It appears bright because of its thick cloud cover that reflects and scatters light. But while Venus, which is the second closest planet to the Sun, is called the Earth’s twin because of their similar sizes, the two planets have significant differences between them.

For one, the planet’s thick atmosphere traps heat and is the reason that it is the hottest planet in the solar system, despite coming after Mercury, the closest planet to the Sun. Surface temperatures on Venus can go up to 471 degrees Celsius, which is hot enough to melt lead, NASA notes.

Further, Venus moves forward on its orbit around the Sun but spins backwards around its axis slowly. This means on Venus the Sun rises in the west and sets in the East. One day on Venus is equivalent to 243 Earth days because of its backward spinning, opposite to that of the Earth’s and most other planets. Venus does not have a moon and no rings.

Solution: d)

The PMLA was enacted in 2002 in line with India’s global commitment to combat money laundering, particularly related to crimes involving drugs and narcotics. 

The PMLA seeks to combat money laundering in India and has three main objectives:

• To prevent and control money laundering.
• To confiscate and seize the property obtained from the laundered money; and
• To deal with any other issue connected with money laundering in India.

The Act and Rules notified there under impose obligation on banking companies, financial institutions and intermediaries to verify identity of clients, maintain records and furnish information in prescribed form to Financial Intelligence Unit – India (FIU-IND).