Current Affairs - Quiz -6

1. The Reserve Bank of India (RBI) reviews its credit and monetary policy at which of the following intervals/occasions?

1) Once in every five years

2) Every year

3) Every quarter

4) When the new Union Budget is announced

5) None of these

The correct answer is 3) Every quarter. The Reserve Bank of India reviews its credit and monetary policy every quarter. This allows the central bank to assess the current economic conditions and make necessary adjustments to interest rates, liquidity measures, and other policy tools to maintain price stability and support economic growth. Quarterly reviews provide more frequent opportunities for the RBI to respond to changing economic circumstances compared to longer intervals such as once in every five years or annually.

Explanation

The correct answer is 3) Every quarter. The Reserve Bank of India reviews its credit and monetary policy every quarter. This allows the central bank to assess the current economic conditions and make necessary adjustments to interest rates, liquidity measures, and other policy tools to maintain price stability and support economic growth. Quarterly reviews provide more frequent opportunities for the RBI to respond to changing economic circumstances compared to longer intervals such as once in every five years or annually.

2. Which of the following schemes is launched by the Government of India to improve the health of pregnant and lactating mothers?

1) Matritva Sahayog Yojana

2) Dhan Lakhsmi Yojana

3) ASHA

4) Health for All scheme

5) None of these

The correct answer is Matritva Sahayog Yojana. This scheme is launched by the Government of India to improve the health of pregnant and lactating mothers.

Explanation

The correct answer is Matritva Sahayog Yojana. This scheme is launched by the Government of India to improve the health of pregnant and lactating mothers.

3. For setting up of the Mahatma Gandhi Institute of Education for Peace and Sustainable Development in which Indian city, the United Nations Educational, Scientific and Cultural Organisation (UNESCO) has signed an agreement with India?

1) Bangalore

2) Rajkot

3) New Delhi

4) Kolkata

5) Lucknow

UNESCO has signed an agreement with India to set up the Mahatma Gandhi Institute of Education for Peace and Sustainable Development in New Delhi.

Explanation

UNESCO has signed an agreement with India to set up the Mahatma Gandhi Institute of Education for Peace and Sustainable Development in New Delhi.

4. Which of the following financial institutions has decided to extend loans to the North-Eastern region to develop road connectivity and Bihar for boosting agri-business?

1) World Bank

2) Asian Development Bank

3) International Monetary Fund

4) International Donors’ Group

5) Reserve Bank of India

The Asian Development Bank has decided to extend loans to the North-Eastern region to develop road connectivity and Bihar for boosting agri-business. This shows that the Asian Development Bank recognizes the importance of infrastructure development and agricultural growth in these regions and is willing to provide financial support to facilitate their development.

Explanation

The Asian Development Bank has decided to extend loans to the North-Eastern region to develop road connectivity and Bihar for boosting agri-business. This shows that the Asian Development Bank recognizes the importance of infrastructure development and agricultural growth in these regions and is willing to provide financial support to facilitate their development.

5. The working group constituted by the RBI has suggested the setting up of the Emergency Fund Facility Scheme for banks. The Scheme will help which of the following types of banks?

1) Public sector banks

2) Small banks

3) Urban Cooperative Banks

4) Private banks

5) Foreign banks

The Emergency Fund Facility Scheme is specifically designed to help Urban Cooperative Banks. This suggests that the scheme is not applicable to other types of banks such as public sector banks, small banks, private banks, or foreign banks.

Explanation

The Emergency Fund Facility Scheme is specifically designed to help Urban Cooperative Banks. This suggests that the scheme is not applicable to other types of banks such as public sector banks, small banks, private banks, or foreign banks.

6. Recently we read in newspaper that the Central Bureau of Investigation (CBI) has been investigating some companies for alleged violations of FCRA, 2000. What is FCRA, 2000?

1) Foreign Countries Regulation Act, 2010

2) Fiscal Control & Regulation Act, 2010

3) Foreign Commercial Representation Act, 2010

4) Foreign Contribution Regulation Act, 2010

5) None of these

The correct answer is 4) Foreign Contribution Regulation Act, 2010. This act is a law passed by the Indian government to regulate the acceptance and utilization of foreign contributions and foreign hospitality by individuals, associations, and companies in India. It aims to ensure that such contributions and hospitality do not adversely affect the political and public life of India. The CBI is investigating companies for alleged violations of this act, suggesting that these companies may have received or used foreign contributions in a manner that violates the regulations outlined in the FCRA, 2000.

Explanation

The correct answer is 4) Foreign Contribution Regulation Act, 2010. This act is a law passed by the Indian government to regulate the acceptance and utilization of foreign contributions and foreign hospitality by individuals, associations, and companies in India. It aims to ensure that such contributions and hospitality do not adversely affect the political and public life of India. The CBI is investigating companies for alleged violations of this act, suggesting that these companies may have received or used foreign contributions in a manner that violates the regulations outlined in the FCRA, 2000.

7. India's largest steel maker the Steel Authority of India Limited (SAIL) has signed the final pact with Japan's Kobe Steel to set up a 500,000-tonne plant in which of the following states?

1) Orissa

2) Bihar

3) Uttar Pradesh

4) West Bengal

5) Karnataka

SAIL, India's largest steel maker, has signed a final agreement with Japan's Kobe Steel to establish a 500,000-tonne plant in West Bengal.

Explanation

SAIL, India's largest steel maker, has signed a final agreement with Japan's Kobe Steel to establish a 500,000-tonne plant in West Bengal.

8. Which of the following key rates, stipulated by the Reserve Bank of India (RBI), is not correct as on April 17, 2012?

1) Cash Reserve Ratio – 4.75%

2) Repo Rate – 8.5%

3) Reverse Repo Rate – 7%

4) Bank Rate – 9%

5) Statutory Liquidity Ratio – 24%

The correct answer is 2) Repo Rate – 8.5%. This is not correct as on April 17, 2012, because the repo rate set by the Reserve Bank of India on that date was different.

Explanation

The correct answer is 2) Repo Rate – 8.5%. This is not correct as on April 17, 2012, because the repo rate set by the Reserve Bank of India on that date was different.

9. In which city the Delhi Metro Rail Corporation (DMRC) is to implement the proposed Metro system?

1) Jaipur

2) Lucknow

3) Kochi

4) Chennai

5) Mumbai

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Explanation

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10. Name the former Israeli Prime Minister who has been cleared of charges in a multi-case corruption trial that forced him out of power, by an Israeli court?

1) Ehud Olmrt

2) Ariel Sharon

3) Benjamin Netanyahu

4) Ehud Barak

5) Shimon Peres

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Explanation

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