Syllabus Analysis

16th November Daily MCQ based on Current Affairs ( Answers)

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16th November Daily MCQ based on Current Affairs

Q-Consider the following statements regarding National Company Law Appellate Tribunal (NCLAT)

1-The Central Government has constituted National Company Law Tribunal (NCLT) under Companies Act, 2015.
2-The National Company Law Tribunal NCLT is a quasi-judicial body,
3-The Tribunal does not have powers to regulate its own procedures.

Choose the correct answer using the code given below:
A- Only 1,2
B- Only 2
C- Only 3,2
D- Only 3

MCQ Source – 16th November 2018, The Hindu Newspaper,Page-13 Topic-Binani Cement: Dalmia Bharat moves SC against NCLAT order

Ans-B

Exp-

The establishment of the National Company Law Tribunal (NCLT) consolidates the corporate jurisdiction of the following authorities:

  • 1. Company Law Board
    2. Board for Industrial and Financial Reconstruction.
    3. The Appellate Authority for Industrial and Financial Reconstruction.
    4. Jurisdiction and powers relating to winding up restructuring and other such provisions, vested in the High Courts.

In the first phase the Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench at New Delhi. These Benches will be headed by the President and 16 Judicial Members and 09 Technical Members at different locations.

Powers of NCLT

The NCLT has been empowered to exercise the following powers:

  1. Most of the powers of the Company Law Board under the Companies Act, 1956.
    2. All the powers of BIFR for revival and rehabilitation of sick industrial companies;
    3. Power of High Court in the matters of mergers, demergers, amalgamations, winding up, etc.;
    4. Power to order repayment of deposits accepted by Non-Banking Financial Companies as provided in section 45QA of the Reserve Bank of India Act, 1934;
    5. Power to wind up companies;
    6. Power to Review its own orders.

The NCLT shall have powers and jurisdiction of the Board for Industrial and Financial Reconstruction (BIFR), the Appellate Authority for Industrial and Financial Reconstruction (AAIFR), Company Law Board, High Courts relating to compromises, arrangements, mergers, amalgamations and reconstruction of companies, winding up etc. Thus, multiplicity of litigation before various courts or quasi-judicial bodies or forums have been sought to be avoided. The powers of the NCLT shall be exercised by the Benches constituted by its President.

 

 

Q-Consider the following statements regarding Fitch Credit Rating

1-Recently Fitch Refusing to upgrade India’s credit rating for the 12th year in a row,and retained its sovereign rating at ‘BBB+‘, the lowest investment grade with a stable outlook.
2- CREDIT RATINGS is Also called debt rating, this is a method of measuring the creditworthiness of a debt issuer
3- The long-term global rating scale at Fitch contain nine grades and goes from the highest grade to the lowest grade (in increasing order of riskiness)

Choose the correct answer using the code given below:
A- Only 1,2
B- Only 2
C- Only 3,2
D- All of the Above

MCQ Source – 16th November 2018, The Hindu Newspaper,Page-13 Topic-Page-13 Fitch retains rating for India

Ans-C

Exp-

Why in news? Refusing to upgrade India’s credit rating for the 12th year in a row, Fitch today retained its sovereign rating at ‘BBB-‘, the lowest investment grade with a stable outlook.

CREDIT RATINGS:

  • Also called debt rating, this is a method of measuring the creditworthiness of a debt issuer.
  • The ratings provided by the main credit rating agencies, Moody’s Investors Service, Standard & Poor’s (S&P) and Fitch, evaluate issuers worldwide and are very closely followed.
  • A top rating means there is almost no likelihood of the borrower failing to meet interest payments or full redemption of the issue.
  • Credit ratings are opinions expressed on an alphanumeric scale on the relative ability and willingness of a debt issuer to meet financial commitments.
  • Credit ratings published by the main global rating agencies aim to provide ratings that are objective and transparent, as well as consistent and comparable across instruments, maturities, industries and countries.
  • Some sectors, maturities and countries have their own specific rating scales.
  • The long-term global rating scale at S&P and Fitch contain nine grades and goes from the highest grade to the lowest grade (in increasing order of riskiness): AAA, AA, A, BBB, BB, B, CCC, CC, C.
  • For Moody’s, the scale contains nine grades and goes from the highest grade to the lowest grade (in increasing order of riskiness): Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C.
  • All three global credit rating agencies, for each full grade other than AAA (or Aaa), CC (or Ca), or C, include a positive, neutral or negative modifier for Fitch and S&P or a numerical modifier for Moody’s.
  • This brings the nine point rating scale to a 21 point scale. For instance, for the AA grade there are AA+, AA, AA- or Aa1, Aa2, Aa3.
  • Government credit ratings take into account three main elements which are:
    • Public debt as a percentage of gross domestic product
    • the budget deficit (the amount government spending exceeds income)
    • debt affordability (interest costs as a percentage of revenue)

India’s latest rating by Fitch:

  • Fitch, in 2018, has retained its sovereign rating at ‘BBB-‘, the lowest investment grade with a stable outlook, saying that weak fiscal balances continue to constrain its ratings.
  • The government had made a strong pitch to Fitch Ratings for an upgrade after rival Moody’s Investors Service last November gave the country its first sovereign rating upgrade since 2004.
  • Fitch had last upgraded India’s sovereign rating from BB+ to BBB- with a stable outlook on August 1, 2006.
  • Fitch Ratings has affirmed India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a stable outlook.
  • India’s rating balances a strong medium-term growth outlook and favourable external balances with weak fiscal finances and some lagging structural factors, including governance standards and a still-difficult, but improving, business environment.
  • Weak fiscal balances, the Achilles’ heel in India’s credit profile, continue to constrain its ratings.
  • India has the highest medium-term growth potential among the largest emerging markets, according to a recent Fitch

 

Q-Consider the following statements regarding Fitch Credit Rating consider while govt credit rating

1-Fitch uses 4 main elements while giving any credit ranking to any country.
2- while giving credit ranking to any country, Fitch uses Public debt as a percentage of Net National product

Select the correct answer using the code given below
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above

Ans-D

MCQ Source – 16th November 2018, The Hindu Newspaper,Page-13 Topic-Page-13 Fitch retains rating for India

 

 

Q-Consider the following statements about ‘Opioid substitution therapy’

1. It supplies illicit drug users with a replacement drug
2. The driving principle behind this therapy is that the patient experiences reduced symptoms of drug withdrawal and less intense drug cravings

Select the correct answer using the code given below
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above

MCQ Source- World Health Organization website http://www.who.int/bulletin/volumes/89/4/11-086850/en/

Ans-C

Exp-

  • Opioid replacement therapy (ORT), also called opioid substitution therapy or opioid maintenance therapy, is a drug therapy that involves replacing an opioid, such as heroin, with a longer acting but less euphoric opioid. Commonly used drugs for ORT are methadone or buprenorphine which are taken under medical supervision.
  • The driving principle behind ORT is the program’s capacity to facilitate a resumption of stability in the user’s life, while the patient experiences reduced symptoms of drug withdrawal and less intense drug cravings; a strong euphoric effect is not experienced as a result of the treatment drug.
  • Opioids are substances that act on opioid receptors to produce morphine-like effects. Medically they are primarily used for pain relief, including anaesthesia.
  • Opioid use disorder is a medical condition characterized by a problematic pattern of opioid use that causes clinically significant impairment or distress. It often includes a strong desire
    to use opioids, increased tolerance to opioids, and withdrawal syndrome when opioids are abruptly discontinued. Addiction and dependence are components of a substance use disorder and addiction represents the most severe form of the disorder. Opioid dependence can manifest as physical dependence, psychological dependence, or both.
  • Opioids include substances such as morphine, heroin, codeine, and oxycodone.

 

 

Q-Sometimes often seen a word Johad” in news. It related to

A. Traditional rainwater harvesting system
B. Self-immolation ritual in medieval India
C. Martial art from central India
D. Type of handicraft in Western India

MCQ Source- http://www.rainwaterharvesting.org/rural/traditional1.htm

Ans- A
EXP:

  • Johads are small earthen check dams that capture and conserve rainwater, improving percolation and groundwater recharge. They are usually used in Haryana & Rajasthan where rainfall is very less. Rainwater is stored in Johads and used throughout the year for drinking purpose.
  • Johads were used extensively by the NGO, ‘Tarun Bharat Sangh’ by Rajendra Singh which led to the revival of Alwar district of Rajasthan.

 

 

Q-Consider the following statements about Atal Bhujal Yojana

1. It is conceived to arrest the rampant overuse of groundwater in India
2. It is supported by the Word Bank
3. It is a sub-scheme under National Groundwater Management Improvement Scheme

Select the correct answer using the codes given below.
A-Only1,2
B- Only 2,3
C- Only 1,3
D-All of the Above

MCQ Source- Analyzing Previous month important event in PIB News http://pib.nic.in/newsite/PrintRelease.aspx?relid=179796

Ans-A

Exp-

  • Atal Bhoojal Yojana is an ambitious plan aimed at efficient management of available water resources. Atal Bhujal Yojana will focus on demand side management (how to meet requirements by minimum use of water).
  • The emphasis of the scheme will be on recharge of ground water sources and efficient use of water by involving people at the local level.
  • The half of the fund of 6000 crore will be supported by a world bank loan of 3000 crore and the rest will be funded by central government.
  • It would initially be implemented with community participation in Gujarat, Maharashtra, Haryana, Karnataka, Rajasthan, Uttar Pradesh and Madhya Pradesh.
    The ministry had initially conceptualised the National Groundwater Management Improvement Scheme (NGMIS) in response to the budget announcement of 2016-17. However, the NGMIS was shot down by the expenditure finance committee in May 2017,recommending that the ministry recast the scheme with a composite proposal. The scheme has since been recast and renamed as Atal Bhujal Yojana.
    The Centre does not have any control over groundwater. The only law that deals with groundwater – the Indian Easements Act – dates back to 1882. This law states that water below the surface belongs to the land owner. In the past several years, 13 states have bought their own law to regulate groundwater extraction but implementation has been patchy.

 

 

Q-Consider the following statements regarding United Nations’ Food and Agriculture Organisation (FAO)

1-FAO was established in 1955
2-FAO is specialised agency of the United Nations that leads international efforts to defeat hunger.
3-Its parent organization is UN Economic and Social Council (UNESC).
4-Its motto is “Let there be No Hunger”.

Choose the correct answer using the code given below:
A- Only 1,2
B- Only 2,3
C- Only 3,2,4
D- Only 1,2,4

MCQ Source – 15th November PIB News AnalysisTopic-Network for Development of Agricultural Cooperatives in Asia and the Pacific (NEDAC) sets agenda for Cooperatives to cooperatives trade

Ans-B

Exp-

It is neutral forum serving both developed and developing countries where all nations meet as equals to negotiate agreements and debate policy. It was established on 16 October 1945 and its headquarters are in Rome, Italy. Its motto is “Let there be bread”. It has 194 member states, along with the European Union (member organization). FAO meet the demands posed by major global trends in agricultural development and challenges faced by member nations. It helps countries in transition modernize and improve agriculture, forestry and fisheries practices, ensuring good nutrition and food security for all.

 

Q-Consider the following statements regarding United Nations’ Food and Agriculture Organisation (FAO)

1- FAO commitment to Sustainable Development Goal (SDG) 2 – to achieve Zero Hunger by 2030
2- FAO theme for this year was: ‘Our actions are our future – A zero hunger world by 2030 is possible’.

Select the correct answer using the code given below
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above

 

Ans-C

MCQ Source- http://www.fao.org/news/story/en/item/1161247/icode/
MCQ Source – 15th November PIB News AnalysisTopic-Network for Development of Agricultural Cooperatives in Asia and the Pacific (NEDAC) sets agenda for Cooperatives to cooperatives trade