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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 Rashtriya Vigyan Puraskar.
- Rashtriya Vigyan Puraskar aim to acknowledge exceptional contributions made by technologists and innovators, whether individually or in teams, across various domains of science and technology.
- It is not open to individuals working in government sector.
- People of Indian Origin residing abroad whose contributions have benefited Indian society are eligible for the award.
- It recognizes lifetime achievements and contributions in any field of science and technology.
How many of the above statements is/are correct?
Correct
Solution: c)
Statement 2 is incorrect.
- The Government of India has introduced a new set of National Awards in the field of Science, Technology, and Innovation called “Rashtriya Vigyan Puraskar.”
- These awards aim to acknowledge exceptional contributions made by scientists, technologists, and innovators, whether individually or in teams, across various domains of science and technology.
- It is open to individuals working in government, private sector organizations, or independently, as well as to People of Indian Origin residing abroad whose contributions have benefited Indian society.
These awards are categorized as follows:
- Vigyan Ratna (VR) award: Recognizing lifetime achievements and contributions in any field of science and technology.
- Vigyan Shri (VS) award: Acknowledging distinguished contributions in any field of science and technology.
- Vigyan Yuva-Shanti Swarup Bhatnagar (VY-SSB) award: Encouraging young scientists under the age of 45 who have made exceptional contributions in any field of science and technology.
- Vigyan Team (VT) award: Presented to teams comprising three or more scientists, researchers, or innovators who have made exceptional contributions while working collaboratively in any field of science and technology.
The Rashtriya Vigyan Puraskar covers 13 domains, including Physics, Chemistry, Biological Sciences, Mathematics & Computer Science, Earth Science, Medicine, Engineering Sciences, Agricultural Science, Environmental Science, Technology & Innovation, Atomic Energy, Space Science and Technology, and Others.
Incorrect
Solution: c)
Statement 2 is incorrect.
- The Government of India has introduced a new set of National Awards in the field of Science, Technology, and Innovation called “Rashtriya Vigyan Puraskar.”
- These awards aim to acknowledge exceptional contributions made by scientists, technologists, and innovators, whether individually or in teams, across various domains of science and technology.
- It is open to individuals working in government, private sector organizations, or independently, as well as to People of Indian Origin residing abroad whose contributions have benefited Indian society.
These awards are categorized as follows:
- Vigyan Ratna (VR) award: Recognizing lifetime achievements and contributions in any field of science and technology.
- Vigyan Shri (VS) award: Acknowledging distinguished contributions in any field of science and technology.
- Vigyan Yuva-Shanti Swarup Bhatnagar (VY-SSB) award: Encouraging young scientists under the age of 45 who have made exceptional contributions in any field of science and technology.
- Vigyan Team (VT) award: Presented to teams comprising three or more scientists, researchers, or innovators who have made exceptional contributions while working collaboratively in any field of science and technology.
The Rashtriya Vigyan Puraskar covers 13 domains, including Physics, Chemistry, Biological Sciences, Mathematics & Computer Science, Earth Science, Medicine, Engineering Sciences, Agricultural Science, Environmental Science, Technology & Innovation, Atomic Energy, Space Science and Technology, and Others.
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Question 2 of 5
2. Question
1 pointsWhich of the following All India Financial Institutions (AIFIs) are under RBI regulation?
- Export-Import Bank of India (EXIM Bank)
- National Bank for Agriculture and Rural Development (Nabard)
- National Bank for Financing Infrastructure and Development (NaBFID)
- National Housing Bank (NHB)
- Small Industries Development Bank of India (SIDBI)
How many of the above options is/are correct?
Correct
Solution: d)
The Reserve Bank of India (RBI) has introduced new norms based on the Basel III capital framework for All India Financial Institutions (AIFIs), which will take effect from April 2024.
India has five AIFIs under RBI regulation: Export-Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (Nabard), National Bank for Financing Infrastructure and Development (NaBFID), National Housing Bank (NHB), and Small Industries Development Bank of India (SIDBI).
The key provisions of the new norms are as follows:
- Capital Adequacy: AIFIs will be required to maintain a minimum total capital of 9 per cent by April 2024. This includes a minimum tier-I capital of 7 percent and common equity tier-I (CET-1) capital of 5.5 percent.
- Consolidation of Financial Subsidiaries: All financial subsidiaries, except those involved in insurance and non-financial activities (both regulated and unregulated), must be fully consolidated for the purpose of capital adequacy.
- Investment Caps: The RBI has imposed limits on AIFIs’ investments in capital instruments of banking, financial, and insurance entities, capping them at 10 percent of their capital funds.
- Equity Investment Limits: AIFIs’ equity investment in a single entity cannot exceed 49 percent of the equity of the investee.
- Capital Planning and Risk Management: AIFIs are advised to focus on effective and efficient capital planning and long-term capital maintenance.
Incorrect
Solution: d)
The Reserve Bank of India (RBI) has introduced new norms based on the Basel III capital framework for All India Financial Institutions (AIFIs), which will take effect from April 2024.
India has five AIFIs under RBI regulation: Export-Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (Nabard), National Bank for Financing Infrastructure and Development (NaBFID), National Housing Bank (NHB), and Small Industries Development Bank of India (SIDBI).
The key provisions of the new norms are as follows:
- Capital Adequacy: AIFIs will be required to maintain a minimum total capital of 9 per cent by April 2024. This includes a minimum tier-I capital of 7 percent and common equity tier-I (CET-1) capital of 5.5 percent.
- Consolidation of Financial Subsidiaries: All financial subsidiaries, except those involved in insurance and non-financial activities (both regulated and unregulated), must be fully consolidated for the purpose of capital adequacy.
- Investment Caps: The RBI has imposed limits on AIFIs’ investments in capital instruments of banking, financial, and insurance entities, capping them at 10 percent of their capital funds.
- Equity Investment Limits: AIFIs’ equity investment in a single entity cannot exceed 49 percent of the equity of the investee.
- Capital Planning and Risk Management: AIFIs are advised to focus on effective and efficient capital planning and long-term capital maintenance.
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Question 3 of 5
3. Question
1 pointsConsider the following statements regarding BASEL-III Norms.
- Basel-III norms were adopted by financial regulators to improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
- It was developed by International Monetary Fund (IMF) in the aftermath of the financial crisis of 2007-08.
- It mandates banks to maintain a Capital to Risk-weighted Assets (CRAR) of at least 25%.
How many of the above statements is/are correct?
Correct
Solution: a)
Only Statement 1 is correct.
- Basel-III norms were adopted by financial regulators to improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
- It was developed by the Basel Committee on Banking Supervision in the aftermath of the financial crisis of 2007-08. It mandates banks to maintain a CAR or Capital to Risk-weighted Assets (CRAR) of at least 8%.
CRAR is a ratio that compares the value of a bank’s capital (or net worth) against the value of its various assets weighted according to risk.
Incorrect
Solution: a)
Only Statement 1 is correct.
- Basel-III norms were adopted by financial regulators to improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
- It was developed by the Basel Committee on Banking Supervision in the aftermath of the financial crisis of 2007-08. It mandates banks to maintain a CAR or Capital to Risk-weighted Assets (CRAR) of at least 8%.
CRAR is a ratio that compares the value of a bank’s capital (or net worth) against the value of its various assets weighted according to risk.
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Question 4 of 5
4. Question
1 pointsThe Reserve Bank of India (RBI) considers which of the following situations as Wilful Default?
- Borrower fails to meet repayment obligations despite having the capacity to do so
- Diverting the loan for purposes other than its intended use
- Disposing of assets securing a term loan without informing the lender
How many of the above statements is/are correct?
Correct
Solution: c)
The RBI defines a wilful default as a situation where a borrower fails to meet repayment obligations despite having the capacity to do so, diverting the loan for purposes other than its intended use, siphoning off funds that are no longer available in other forms, or disposing of assets securing a term loan without informing the lender.
Incorrect
Solution: c)
The RBI defines a wilful default as a situation where a borrower fails to meet repayment obligations despite having the capacity to do so, diverting the loan for purposes other than its intended use, siphoning off funds that are no longer available in other forms, or disposing of assets securing a term loan without informing the lender.
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Question 5 of 5
5. Question
1 pointsConsider the following pairs regarding the Government initiatives and its description.
- PM-SHRI: Provide High-quality education in schools with a focus on equity and inclusivity.
- NIPUN Bharat: Promoting online education and digital learning through various platforms and resources.
- NDEAR: Capacity-building program for teachers and school principals.
How many of the above pairs is/are correctly matched?
Correct
Solution: a)
Only Statement 1 is correct.
Major initiatives under NEP 2020 (for all types of education) are:
Initiative Description PM-SHRI High-quality education in schools with a focus on equity and inclusivity NIPUN Bharat Universal acquisition of foundational literacy and numeracy by Grade 3, by 2026-27 PM e-VIDYA Promoting online education and digital learning through various platforms and resources. NCF-FS and Jadui Pitara National Curriculum Framework for Foundational Stage and play-based learning for ages 3-8 NISHTHA Capacity-building program for teachers and school principals. NDEAR Blueprint for digital technology-based education applications. Academic Frameworks Introduction of National Credit Framework (NCrF) and National Higher Education Qualification Framework (NHEQF). Incorrect
Solution: a)
Only Statement 1 is correct.
Major initiatives under NEP 2020 (for all types of education) are:
Initiative Description PM-SHRI High-quality education in schools with a focus on equity and inclusivity NIPUN Bharat Universal acquisition of foundational literacy and numeracy by Grade 3, by 2026-27 PM e-VIDYA Promoting online education and digital learning through various platforms and resources. NCF-FS and Jadui Pitara National Curriculum Framework for Foundational Stage and play-based learning for ages 3-8 NISHTHA Capacity-building program for teachers and school principals. NDEAR Blueprint for digital technology-based education applications. Academic Frameworks Introduction of National Credit Framework (NCrF) and National Higher Education Qualification Framework (NHEQF).
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