DESIREIAS QUIZ

20th October Daily MCQ Answer

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20th October Daily MCQ Answer

Consider the following statements

1-National Commission for Women (NCW) is a statutory body of the Government of India
2- It was established in 2002 under the provisions of the Indian Constitution
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 – The HINDU Newspaper , 20th October page-7 topic-Political parties should form complaints panel: Maneka

Ans-A
Exp-
It was established in 1992 under the provisions of the Indian Constitution

DESIRE IAS, [20.10.18 22:33]
Consider the following statements

1-The World Diamond Council is an organization representing the entire diamond value chain including representatives from diamond mining, manufacturing and Trading Only
2- It does not representatives in retail
3- World Diamond Council has representation on all the Kimberley Process’s working groups and is influential in determining its implementation and future reform
4- The Council, headquartered in the USA

Select the Not correct answer using the code given below:
A- only 4
B- only 1,3
C- only 1,2
D- only 1,2,4
MCQ Source – The HINDU Newspaper , 20th October Page-13 topic-WDC meet in Mumbai from Oct. 22

Ans-C

Question was asked for NON Correct
Exp-
The World Diamond Council is an organization representing the entire diamond value chain including representatives from diamond mining, manufacturing, trading and retail.

The Council was established in July 2000 and mandated to put forth strategies to combat the use of diamond proceeds being used to benefit rebel forces engaged in conflict.
In December 2000, the United Nations General Assembly adopted a landmark resolution supporting the creation of an international certification scheme for rough diamonds.

By November 2002, negotiations between governments, the international diamond industry and civil society organisations resulted in the creation of the Kimberley Process Certification Scheme (KPCS).

The KPCS document sets out the requirements for controlling rough diamond production and trade. The KPCS entered into force in 2003, when participating countries started to implement its rules.

The KPCS is credited as being instrumental toward dramatically reducing “conflict diamonds” to less than 1% of the world’s diamond production today.

The World Diamond Council has representation on all the Kimberley Process’s working groups and is influential in determining its implementation and future reform.

The Council, headquartered in the USA,

DESIRE IAS, [20.10.18 22:34]
1-Components of Statutory Liquidity Ratio (SLR)
include cash in hand, gold owned by the bank, balance with RBI, Net balance in current account & Investment in Government securities.

2- SLR has to be maintained at the close of business on monthly .
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 – The HINDU Newspaper , 20th October Page-13 Topic-RBI steps in to ease NBFC woes

Ans-A

SLR has to be maintained at the close of business on daily
•Exp-
The SLR is the portion of deposits that banks are required to maintain in the form of gold or government securities before providing credit to customers.
•It is also the ratio of liquid assets to demand and time liabilities.
•It is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
•It is determined as percentage of total demand and time liabilities. Time Liabilities refer to the liabilities, which the commercial banks are liable to pay to the customers after a certain period mutually agreed upon and demand liabilities are such deposits of the customers which are payable on demand
•If any Indian bank fails to maintain the required level of Statutory Liquidity Ratio, then it becomes liable to pay penalty to Reserve Bank of India. The defaulter bank pays penal interest at the rate of 3% per annum above the Bank Rate, on the shortfall amount for that particular day.

DESIRE IAS, [20.10.18 22:35]
Consider the following statements
1-Time Liabilities refer to the liabilities, which the commercial banks are liable to pay to the customers after a certain period mutually agreed upon
2-Demand liabilities are such deposits of the customers which are payable on demand
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

Exp-

• The SLR is the portion of deposits that banks are required to maintain in the form of gold or government securities before providing credit to customers.
• It is also the ratio of liquid assets to demand and time liabilities.
• It is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
• It is determined as percentage of total demand and time liabilities. Time Liabilities refer to the liabilities, which the commercial banks are liable to pay to the customers after a certain period mutually agreed upon and demand liabilities are such deposits of the customers which are payable on demand
• If any Indian bank fails to maintain the required level of Statutory Liquidity Ratio, then it becomes liable to pay penalty to Reserve Bank of India. The defaulter bank pays penal interest at the rate of 3% per annum above the Bank Rate, on the shortfall amount for that particular day.

MCQ Source – The HINDU Newspaper , 20th October Page-13 Topic-RBI steps in to ease NBFC woes

DESIRE IAS, [20.10.18 22:35]
Q-The term ‘Crowd-out’ in economy is related to which of the following:
1-Increased public sector spending replaces private sector spending
2-Governments deficit spending through borrowed money increases interest rates
3-Government spending uses up financial resources that would otherwise be used by private firms
4-Government providing a service or good that would otherwise be a business opportunity for private industry
Select the correct answer using the
code given below:
A- 1 only
B- 1,2 only
C- 2,3 only
D- All of the above

MCQ Source- 12th new NCERT Macro, Page 72, Other Perspectives on Deficits and Debt

Ans-D

DESIRE IAS, [20.10.18 22:36]
Q- The term ‘Crowd-in’ in the economy is related to which of the following?
1-Targeted government spending acts as an engine of growth in the short run
2-Government spending complements the private investment
3-Government spending substitutes the private investment
4- Government spending boosts demand for goods which in turn increases private demand
Select the correct answer using the code given below:
A- 1,2 only
B- 1,3 only
C- 1,2,4 only
D -1,3,4 only

MCQ Source- 12th new NCERT Macro, Page 72, Other Perspectives on Deficits and Debt

Ans-C

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