Banking and Economic Awareness-Set 01

Q1. CRISIL, the largest credit rating agency in India was established in
A. 1985
B. 1987
C. 1992
D. 1994

Answer: B. 1987

CRISIL short for Credit Rating Information Services of India Limited was the first credit rating agency set up in India on January 29, 1987.

The agency started operations in 1988.  At the time of incorporation, the agency was promoted by ICICI Limited, UTI and many such financial institutions. 

Learn more:

https://crisil.com/about-crisil/our-history.html

Q2. Incorporated in 1993, CARE is a credit rating, research and advisory committee promoted by IDBI, Canara Bank, UTI and other financial and lending institutions. What is the full form of CARE?
A. Credit Advisory and Research Limited
B. Credit Analysis and Research Limited
C. Credit Advisory and Research Executive
D. Credit Analysis and Research Executive

Answer: B. Credit Analysis and Research Limited

CARE stands for Credit Analysis and Research Limited.

Credit Analysis and Research Limited (CARE) is a credit rating, research and advisory committee promoted by Industrial Development Bank of India (IDBI), Canara Bank, Unit Trust of India (UTI) and other financial and lending institutions. 

CARE Ratings commenced operations in April 1993 and over nearly two decades, it has established itself as the second-largest credit rating agency in India. With the rating volume of debt of around Rs. 92 lakh crores (as on March 31, 2017)

Learn more:

Q3. Small and Medium Enterprises Rating Agency of India (SMERA) was founded by:
A. Indian financial and banking service organizations
B. Industrial Development Bank of India
C. Small Industries Development Bank of India
D. Reserve Bank of India

Answer: C. Small Industries Development Bank of India

Small and Medium Enterprises Rating Agency of India (SMERA) a joint initiative by Small Industries Development Bank of India (SIDBI), Dun & Bradstreet Information Services India Private Limited (D&B) and several leading banks in the country.

SMERA was exclusively set up for micro, small and medium enterprises (MSME) in India and has grown to rate SME, mid & large corporate.

SMERA Ratings Limited is a full-service Credit Rating Agency, registered with the Securities and Exchange Board of India (SEBI), and accredited by Reserve Bank of India (RBI) as an External Credit Assessment Institution (ECAI), for Bank Loan Ratings under BASEL-II norms. SMERA is empanelled with National Small Industries Corporation (NSIC), the nodal agency of the Ministry of MSME, Government of India to provide SMERA-D&B-NSIC Micro & Small Enterprises Rating for SMEs in India.

SMERA has assigned more than 47,000 ratings since inception as on September 2017.

SMERA has its Registered and Head Office in Mumbai

Learn more: 

Q4. Which of the following has the greater share in the central government’s earnings?
A. Corporate tax
B. Income tax
C. Excise duties
D. Non-tax revenue

Answer: A. Corporate tax

Corporation Tax is levied on the income of Companies under the Income-tax Act, 1961. In the union budget 2016-2017, the share of corporate tax was 19.09%. Budget Estimate for 2017-2018 is Rs. 538744.73 crore.

Income Tax is a tax on the income of individuals, firms etc. other than Companies, under the Income-tax Act,1961. The share of income tax was 14.08% in the union budget 2016-2017. Budget Estimate for 2017-18 is Rs. 441255.27 crore.

The excise duties amounted to 12% in the union budget 2016-2017. Budget Estimate for 2017-2018 is Rs. 406900 crore.

Non-Tax Revenue receipts are from various sources such as return on assets in form of dividend and profits, interest, fees, fines and miscellaneous receipts collected in the exercise of sovereign functions, regulatory charges and license fees and user charges for publicly provided goods and services. In the union budget 2016-2017, the share of Non-tax revenue was 13%. Budget Estimate for 2017-2018 is Rs. 288757.07 crore.

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Q5. The bulk of the Central Government’s subsidies arise on the provision of economic services, which account for :
A. 45% of the total subsidies
B. 52% of the total subsidies
C. 70% of the total subsidies
D. 88% of the total subsidies

Answer: D. 88% of the total subsidies

Central government subsidies trends in the subsidies given by Central Government (Year 1994-95) the bulk of the Central Government’s subsidies arise on the provision of economic services, which account for 88% of the total subsidies (10% on merit services and 78% on non-merit).

In social services, the Centre’s participation is limited. Most of the social sector expenditure pertains either to the Union Territories that figure in the Central Budget or are in the nature of departmental transfers to State governments. Except for information and broadcasting.

Social services include Elementary education, Family welfare, General education, Information and broadcasting, Labour and employment, Medical and public health, Other social services, Secondary education, Social welfare and nutrition, Technical education, University and higher education and Water supply & sanitation.

Economic services include Agriculture, rural development and allied activities, Energy, General economic services, Industry and minerals, Irrigation and flood control, Postal and Science technology & environment.

In 2003-2004, the share of economic services was  81.44% while Social services accounted for 18.56%. 

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Q6. In the union budget 2017, what is the government’s allocation of funds for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)?
A. Rs. 45,000 crore
B. Rs. 47,499 crore
C. Rs. 48,000 crore
D. Rs. 38,500 crore

Answer: C. Rs. 48,000 crore

Learn more:  Arun Jaitley gives highest ever allocation for MGNREGS in Budget 2017

Q7. Consider the following options and answer the question given below.

  1. Interest credited to your account
  2. Dividend received on shares
  3. Withdrawal of cash at an ATM
  4. FD proceeds credited to your bank account

Which of the following is/are classified as customer induced transactions?

A. Only 3
B. Only 1, 2 and 3
C. Only 2, 3 and 4
D. All of the above

Answer: C. Only 2, 3 and 4

Customer induced transactions include:

  1. Withdrawal and deposit of money by the account holder through ATM, net banking, mobile banking, cheques etc.
  2. Payment by cheque
  3. Transfer of funds through Internet banking, phone banking or ATMs
  4. A standing instruction to the bank by the account holder such as payment of utility bills of the account holder is also considered as a valid transaction
  5. Fixed Deposit (FD) proceeds credited to your bank account
  6. When a customer has given a mandate for crediting dividend on shares to his or her Bank account and the dividend is credited to his or her account, it is treated as a customer induced transaction.

System generated transactions, such as interest credited to your bank account or service charges levied by the bank, are not considered as “customer induced transaction”.

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Q8. A savings bank account becomes inactive when there are no transactions for the last _______.
A. 12 months
B. 15 months
C. 18 months
D. 24 months

Answer: A. 12 months

If you have a current or a savings bank account and have not done any transactions through it for more than 12 months, then it will be classified as an inactive account.

Learn more: Difference between inactive and dormant savings bank accounts

Q9. A current account becomes dormant when there are no transactions for the last _______.
A. 12 months
B. 15 months
C. 18 months
D. 24 months

Answer: D. 24 months

A current account becomes dormant when there are no transactions for the last 24 months or 2 years.

For the purpose of classifying an account as ‘inoperative’ or dormant both the type of transactions i.e. debit, as well as credit transactions induced at the instance of customers as well as a third party, should be considered. However, the service charges levied by the bank or interest credited by the bank should not be considered.

However, interest on savings bank accounts is credited on a regular basis even the account is dormant.

Learn more: 

 

Q10. The Reserve Bank of India in a statement in May 2017 said that it will soon put into circulation currency notes in one rupee denomination. The new one rupee note will bear the signature of:
A. the Governor of RBI
B. the Secretary (Economic Affairs), Ministry of Finance
C. the Chairman of NITI Aayog
D. the President of India

Answer: B. the Secretary (Economic Affairs), Ministry of Finance

According to a statement released by the Reserve Bank of India, the one rupee notes bearing the rupee symbol have been printed by the government and will be soon put into circulation.

The note will bear the signature of the Secretary (Economic Affairs), Ministry of Finance.

The color of one rupee currency note shall be predominantly pink-green on the obverse and reverse in combination with others.

The numbering will be in the black at the right-hand bottom portion of the note. On the reverse side, the year 2017 is mentioned. There is also a representation of the one rupee coin with the rupee symbol having a floral design and the surrounding design consists of a picture of the “Sagar Samrat” oil exploration platform.

Source: RBI to issue new pink-green one rupee notes

Q11. Rajiv Gandhi Equity Savings Scheme (RGESS), a tax saving scheme designed exclusively for the first time individual investors in securities market was introduced in which union budget?
A. Union Budget 2013-14
B. Union Budget 2012-13
C. Union Budget 2010-11
D. Union Budget 2009-10

Answer: B. Union Budget 2012-13

Rajiv Gandhi Equity Savings Scheme (RGESS), is a tax saving scheme announced in the Union Budget 2012-13 (para 35) and further expanded vide Union Budget 2013-14 (para 61 & 144).

The scheme is designed exclusively for the first time individual investors in the securities market, whose gross total income for the year is below a certain limit.

The income ceiling of the beneficiaries should be Rs. 12 lakh.

The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount invested during the year, up to a maximum investment of Rs. 50,000 per financial year, from his/her taxable income for that year, for three consecutive assessment years.

‘Rajiv Gandhi Equity Savings Scheme 2013’ (RGESS guidelines) can be used for claiming the deduction in the computation of total income of the assessment year related to a previous year, in consideration of investment in eligible securities, under sub-section (1) of section 80CCG of the Income Tax Act, 1961.

Source:

Q12. Section 80CCG of Income Tax Act offers:
A. tax deductions on investment by first-time investors in equity savings schemes
B. tax deductions on amounts spent by an individual towards the premium of a health insurance policy
C. tax deductions on subscription of long-term infrastructure bonds which have been notified by the government
D. tax deductions on investment in pension funds

Answer: A. tax deductions on investment by first-time investors in equity savings schemes

The section 80CCG in the Income tax Act, 1961 on ‘Deduction in respect of investment under an equity savings scheme’ was introduced vide Finance Act, 2012 and amended vide Finance Act, 2013, to give tax benefits to ‘New Retail Investors’ whose gross annual income is less than or equal to Rs.12 Lakhs, for investments in ‘Eligible Securities’ up to Rs.50,000 in a single financial year, for three consecutive assessment years.

The section 80CCG is also referred as Rajiv Gandhi Equity Savings Scheme (RGESS).

Source:

Q13. What is the full form of ELSS?
A. Equity Liked Savings Scheme
B. Equity Linked Sourcing Scheme
C. Equity Linked Savings Scheme
D. Equity Liked Sourcing Scheme

Answer: C. Equity Linked Savings Scheme

ELSS stands for Equity Linked Savings Scheme. These are tax­-saving mutual funds that you can use to save income tax of up to Rs 1.5 lakh under Section 80C. ELSS funds have a lock­-in period of 3 years and invest a majority of their portfolio in the stock market.

Source:

Q14. A PPF account holder can deposit a maximum of Rs. ________ in one financial year.
A. 50 thousand
B. 1 lakh
C. 1.5 Lakh
D. 2 Lakh

Answer: C. 1.5 Lakh

Public Provident Fund (PPF) scheme is a long term investment option supported by Government of India which offers safety with interest rate of 7.8% and returns that are fully exempted from Tax. Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal, and extension of account.

Source: Public Provident Fund FAQs

Q15. What do you mean by “ECB” in financial terms?
A. External Credit Business
B. External Commercial Borrowings
C. External Credit Borrowings
D. Essential Commercial Business

Answer: B. External Commercial Borrowings

External commercial borrowing (ECBs) are loans in India made by non-resident lenders in foreign currency to Indian borrowers. They are used widely in India to facilitate access to foreign money by Indian corporations and PSUs (public sector undertakings). ECBs include commercial bank loans, buyers’ credit, suppliers’ credit, securitised instruments such as floating rate notes and fixed rate bonds etc., credit from official export credit agencies and commercial borrowings from the private sector window of multilateral financial Institutions such as International Finance Corporation (Washington), ADB, AFIC, CDC, etc. ECBs cannot be used for investment in the stock market or speculation in real estate. The DEA (Department of Economic Affairs), Ministry of Finance, Government of India along with Reserve Bank of India, monitors and regulates ECB guidelines and policies.

Learn more: 

IBPS-RRB-Current Affairs and GK

  1. According to RBI norms, what percentage of the loan a Micro Finance Institution (MFI) has to set aside that’s overdue between 90 and 180 days to cover the risk of default?
    A. 45%
    B. 50%
    C. 75%
    D. 100%

Answer: B. 50%

Read more: Microfinance firms ask RBI to relax norms on provisioning

  1. Sadbhavna Diwas (Harmony Day) is observed each year to commemorate the birth anniversary of:
    A. Lal Bahadur Shashtri
    B. Atal Bihari Vajpayee
    C. Pandit Deen Dayal Upadhyay
    D. Rajiv Gandhi

Answer: D. Rajiv Gandhi

Learn more: SADBHAVANA DIWAS 2017

3. 15 January is observed as:
A. Central Excise Day
B. Army Day
C. Martyrs Day
D. World Red Cross Day

Answer: B. Army Day

Learn more: Army Day (India) From Wikipedia, the free encyclopedia

 

4. Full form of CRAR is:
A. Capital Requirements and Adequacy Ratio
B. Capital Requirements and Assets Ratio
C. Capital to Risk Assets Ratio
D. None of the above

Answer: C. Capital to Risk Assets Ratio

Learn more: What is Capital to Risky Asset Ratio (CRAR)?

5. In 2016, the Reserve Bank of India released the Vision 2018 document. The document primarily aims at:
A. reducing bad loans or non-performing assets (NPAs)
B. increasing the Capital Adequacy Ratio
C. promoting workable action plans by embracing technology
D. enabling payment and settlement systems in India

Answer: D. enabling payment and settlement systems in India

Learn more: Payment and Settlement Systems in India: Vision-2018

6. Which city was declared World Heritage City by the World Heritage Committee (WHC) of UNESCO?
A. Lucknow
B. Nalanda
C. Ahmedabad
D. Coimbatore

Answer: C. Ahmedabad

Learn more: Ahmedabad becomes India’s first World Heritage city

7. China launched its first cyber court specializing in handling internet-related cases in
A. Hangzhou
B. Zhejiang
C. Shanghai
D. Beijing

Answer: A. Hangzhou

Learn more: China launches first cyber court in e-commerce hub

8. What is the currency of Poland?
A. Zloty
B. Guarani
C. Kina
D. Euro

Answer: A. Zloty

Learn more: Currency Encyclopedia

9. What is the currency of Armenia?
A. Euro
B. Dram
C. Peso
D. Dollar

Answer: B. Dram

Learn more: Currency Encyclopedia

10. Where is the capital of Qatar?
A. Muskat
B. Doha
C. Amman
D. Beirut

Answer: B. Doha

Learn more: Doha, capital city of Qatar

11. Havana is the capital of:
A. Bolivia
B. Panama
C. Chile
D. Cuba

Answer: D. Cuba

Learn more:  Havana From Wikipedia, the free encyclopedia

12. CHF is the currency code of:
A. Chinese Yuan Renminbi
B. Canadian dollar
C. Swiss franc
D. Central African franc

Answer: C. Swiss franc

Learn more: List of currencies of the world

  1. Smt. Usha Ananthasubramanian heads which of the following bank?
    A. Central Bank of India
    B. Allahabad Bank
    C. Axis Bank
    D. Punjab National Bank

Answer: B. Allahabad Bank

Learn more:

Usha Anathasubramanian appointed as Allahabad Bank MD, CEO

https://www.allahabadbank.in/english/Directors.aspx

14. International Literacy Day is observed on:
A. 5th September
B. 7th August
C. 8th September
D. 28th August

Answer: C. 8th September

Learn more: International Literacy Day From Wikipedia, the free encyclopedia

  1. What does ‘K’ stand for in DDU-GKY?
    A. Kushal
    B. Kendriya
    C. Kaushalya
    D. Karya

Answer: C. Kaushalya

Learn more: http://ddugky.gov.in/content/about-us-0

  1. Union Government declared September 25 as ‘Antyodaya Diwas’ in memory of:
    A. Deen Dayal Upadhyaya
    B. Syama Prasad Mukherjee
    C. Bhim Rao Ambedkar
    D. Vinoba Bhave

Answer: A. Deen Dayal Upadhyaya

Learn more: Govt declares September 25 as ‘Antyodaya Diwas’

 

Current Affairs Micro Quiz-14 Questions with Answers-08 August 2017

1. The metro system recently recongnised as world’s first green metro system is?

A.  Lyon Metro, France
B. Shenzhen Metro, China
C. Delhi Metro, India
D.  Toronto subway, Canada

2. Government agency Defence Research and Development Organisation (DRDO) has recently developed an unmanned tank that can remotely operate and has named it

A. ‘Muntra’
B. ‘SARGE’
C. ‘Warrior’
D. ‘Uran’

3. Which of the following App was launched recently for providing ocean information services, dissemination of alerts towards the livelihood of a coastal community as well as their safety at Sea?

A. Samudra Alert
B. Sagar Vani
C. Samudra Vani
D. Sagar Samadhan

4. Union Minister of State (Independent Charge) for Minority Affairs & Parliamentary Affairs Shri Mukhtar Abbas Naqvi recently launched the “Jiyo Parsi Publicity Phase-2”. The main objective of the “Jiyo Parsi” scheme is to

A. provide a global platform for Parsi population to get together
B. provide economic support to Parsi population
C. reverse the declining trend of Parsi population
D. None of the above

5. The World Bank is headquartered in: 

A. Paris, France
B. Zurich, Switzerland
C. London, UK
D. Washington, D.C., USA

6. As per reports, which of the following international organization has accepted the mediator role between India and Pakistan over two of India’s hydroelectricity projects, namely Kishenganga and Ratle, under the 1960 Indus Waters Treaty (IWT)?

A. International Court of Justice
B. United Nations Environment Programme
C. International Energy Forum
D. World Bank

7. This country has made a historic breakthrough by successfully producing natural gas from methane hydrate, also known as “flammable ice”:

A. Canada
B. China
C. United States
D. Russia

8. On July 31, 2017, the Rajya Sabha passed the Constitution (123rd Amendment) Bill, 2017. The bill provides for:

A. granting the National Commission on Backward Classes (NCBC) constitutional status
B.  amending the Constitution (Scheduled Castes) Order, 1950 and the Constitution (Pondicherry) Scheduled Castes Order, 1964
C. outlining certain guidelines for running co-operative societies
D.  a minimum of one-third of the total number of seats filled by direct elections in every Municipality shall be reserved for women

9. India won the Division ‘B’ of FIBA Women’s Asia Cup 2017 by defeating?

A. Kazakhstan
B. Lebanon
C. Fiji
D. Singapore

10. Who won the 2017 Hungarian Formula 1 Grand Prix?

A. Valtteri Bottas
B. Lewis Hamilton
C. Sebastian Vettel
D. Daniel Ricciardo

11.  Israel’s first environmental satellite, a major project of the Israel Space Agency and the French space agency CNES, was launched recently. What is the name of this satellite?

A. Venus
B. Revache
C. Athena
D. Gedulah

12. On July 31, 2017, the Supreme Court prohibited the use of five chemicals, labeled as toxic by the Central Pollution Control Board (CPCB), in the manufacture of firecrackers. Which among the following chemical is NOT prohibited:

A. Lithium
B. Antimony
C. Sulphur
D. Mercury

13. On 31st July 2017, BSF (Border Security Force) signed MoU with NSDC (National Skill Development Corporation).

Read the following list and select who will be eligible for the skill training under this MoU.
1. retired BSF personnel
2. BSF personnel who are on the verge of retiring
3. the population residing in the border areas

A. Only 1 and 2
B. Only 1 and 3
C. Only 2 and 3
D. All of the above

 

14. Cabinet of this state has approved recently the anti-conversion Bill labeled Freedom Bill 2017 which carry jail term of three years and/or fine of Rs 50,000 for anyone found guilty of converting people by alluring or forcing them?

A. Maharashtra
B. Rajasthan
C. Jharkhand
D. Madhya Pradesh

Answer Key with explanation and links

1. C. Delhi Metro, India

  • Delhi Metro Rail Service has been named as the only completely ‘green’ Metro system in the world for adhering to green building norms.
  • The city railway network has obtained the platinum rating for adherence to green building norms for its 10 residential colonies from the Indian Green Building Council (IGBC).

Learn more: Delhi Metro named as world’s first and only 100% ‘green’ metro system

2. A. ‘Muntra’

  • Government agency Defence Research and Development Organisation (DRDO) has recently developed an unmanned tank that can remotely operate and has named it ‘Muntra’.
  • The tank which is a first of its kind in the country has been developed and tested by Combat Vehicles Research and Development Establishment (CVRDE) in Avadi for the army.
  • Three variants of Muntra has been developed namely:
    • Muntra S –  to carry out unmanned surveillance missions.
    • Munta M –  for detecting mines.
    • Muntra N –  will be deployed in areas where nuclear radiation or the risk of bio weapons is high.

Learn more: In a first, DRDO develops unmanned tank Muntra; from detecting nuclear, bio weapons to mines, here is all you need to know

3. B. Sagar Vani

  • Minister of Science & Technology, Earth Sciences and Environment, Forests & Climate Change, Dr. Harshvardhan launched an app “Sagar Vani” on the occasion of Foundation Day of Ministry of Earth Sciences in New Delhi.
  • The App, an Integrated Information Dissemination System, is developed for providing ocean information services, dissemination of alerts towards the livelihood of a coastal community as well as their safety at Sea.
  • The ‘Sagar Vani’ is a software platform where various dissemination modes will be integrated on a single central server.
  • The ‘Sagar Vani’ includes Multi Lingual SMS, Voice Call / Audio Advisory, Mobile Apps (User / Admin modules), Social Media (Facebook, Twitter, etc.), Email, GTS, Fax, Digital Display Boards, Radio / Television broadcast units, IVRS, Cloud Channels, etc.
  • The system also has a facility to provide access to various stakeholders (NGOs, State Fishery Departments, Disaster Management Authorities, etc.) so that they too will be able to further disseminate this ocean information and alerts to the user community.

Learn more: Dr. Harshvardhan launches “Sagar Vani” – An Integrated Information Dissemination System

4. C. reverse the declining trend of Parsi population

  • “Jiyo Parsi Publicity” is a central sector scheme. The main objective of the scheme is to reverse the declining trend of the Parsi population by adopting a scientific protocol and structured interventions, stabilize their population and increase the population of Parsis in India.
  • Ministry of Minority Affairs’ scheme has two components: Medical Assistance and Advocacy/Counselling. The scheme has been successful. 101 babies have been born in Parsi community through “Jiyo Parsi” scheme.
  • The first phase of the scheme, “Jiyo Parsi Publicity Phase-1”, was initiated in 2013 for containing the declining trend of the population of the Parsi community and reverse it to bring their population above the threshold level.
  • On 29th July Union Minister of State (Independent Charge) for Minority Affairs & Parliamentary Affairs Shri Mukhtar Abbas Naqvi launched “Jiyo Parsi Publicity Phase-2” in Mumbai.

Learn more: 

  1. Shri Mukhtar Abbas Naqvi launches “Jiyo Parsi Publicity Phase-2” in Mumbai
  2. “Jiyo Parsi” – The Central Sector Scheme for Containing Population Decline of Parsis in India

5. Washington DC, USA

  • The World Bank is headquartered in Washington, D.C., United States.

Learn more: About the World Bank

6. D. World Bank

  • In 2016, Pakistan had approached World Bank to mediate between India and Pakistan over two of India’s hydroelectricity projects, namely Kishenganga and Ratle, under the 1960 Indus Waters Treaty (IWT), which the World Bank accepted.
  • Pakistan demanded that the World Bank set up a court of arbitration to look into its concerns. On the other hand, India asked for appointments of a neutral expert to look into the issues, contending the concerns Pakistan raised were “technical” ones.
  • The World Bank, in November 2016, initiated two processes: establishment of a court of arbitration and appointment of a neutral expert. These processes were halted after India objected to it.
  • On 31st July 2017, the World Bank hold talks between two countries to resolve the issue.

Learn more: India, Pakistan to hold talks on hydropower projects under Indus Waters Treaty at World Bank headquarters on July 31

7. B. China

  •  In an experimental project in the South China Sea, China has made a historic breakthrough by successfully producing natural gas from methane hydrate, also known as “flammable ice”. 
  • Flammable ice consists of methane trapped within water crystals, and has been identified as a potential new gas source for China, with the South China Sea thought to contain some of the world’s most promising deposits.

Learn more: China produces gas from ‘flammable ice’ under South China Sea

8. A. granting the National Commission on Backward Classes (NCBC) constitutional status

  • On July 31, 2017, the Rajya Sabha passed the Constitution (123rd Amendment) Bill, 2017.
  • The bill provides for granting the National Commission on Backward Classes (NCBC) constitutional status at par with the National Commission for Scheduled Castes (NCSC) and the National Commission for Scheduled Tribes.
  • The bill was earlier introduced in Lok Sabha by the Minister of Social Justice and Empowerment, Mr. Thaawarchand Gehlot on April 5, 2017.

Learn more:

  1. The Constitution (One Hundred and Twenty-Third Amendment) Bill, 2017
  2. Constitution 123rd Amendment Bill and National Commission for Backward Classes (Repeal) Bill, 2017 passed with amendment in Rajya Sabha

9. A. Kazakhstan

  • India won the Division ‘B’ of FIBA Women’s Asia Cup 2017 by defeating Kazakhstan, 75-73, in the final played on 29 July 2017. 

Learn more: India clinch Division B crown in front of sellout home crowd

10. C. Sebastian Vettel

  • Sebastian Vettel won the 2017 Hungarian Formula 1 Grand Prix. 
  • In his 50th race for Ferrari, the four-time champion German controlled the contest from pole position in stifling heat to reel off his first win in five races since the Monaco Grand Prix.

Learn more: Sebastian Vettel wins Formula 1 Grand Prix in Budapest, Hungary

11. A. Venus

  • On August 2, 2017, Israel’s first environmental satellite ‘Venus’ was launched. 
  • Venus (Vegetation and Environment Monitoring New Micro-Satellite), designed and built by Israel Aerospace Industries (IAI) and Rafael, in collaboration with the French National Center for Space Studies (CNES), was shot into space from the launching pad in French Guiana.
  • Venus has a dual mission: one scientific and the other technological. The scientific mission will monitor Earth’s vegetation using a camera capable of recording 12 narrow spectral bands.
  • The technological mission will test the operation of an innovative electric propulsion system based on the Israeli-designed Hall Effect Thrusters.

Learn more: 

  1. Israel launches first environmental research satellite
  2. VIDEO: First Israeli Environmental Satellite Soars Into Space

12. Answer: C. Sulphur 

  • The Supreme Court on July 31, 2017, prohibited the use of five chemicals, labeled as toxic by the Central Pollution Control Board (CPCB), in the manufacture of firecrackers.
  • These harmful chemicals are antimony, lithium, mercury, arsenic, and lead.
  • The apex court further added that it is the responsibility of the Petroleum and Explosive Safety Organisation (PESO) to ensure compliance, particularly in Sivakasi.

Learn more: 5 chemicals banned in firecrackers

13. D. All of the above

  • The Border Security Force (BSF) signed a MoU with the National Skill Development Corporation (NSDC) on July 31, 2017.
  • The agreement was signed in the presence of MoS (Independent Charge) Skill Development and Entrepreneurship (MSDE), Shri Rajiv Pratap Rudy and Minister of State for Home Affairs, Shri Kiren Rijiju.
  • The MoU will enable NSDC to provide “Skill training to retired and retiring BSF personnel, as well as to the population residing in the border areas.”
  • Following are the objectives of the MoU: 
    •  To contribute to the Skill Development Agenda of the country by ensuring the successful roll out of NSQF (National Skill Qualification Framework) based skill training to the retiring or retired BSF personnel and local population at the area of deployment through NSQF compliant training programs at multi-skill development centers run by BSF. This will help in meeting the aspirations of the stakeholders for training and employment.
    • This collaboration aims to train and provide gainful employment to retired BSF personnel and their families, school students, youth, differently abled for five years starting from April 2017 to April 2022. 
    • The project will be a limited time period i.e. (5 years) and in mission mode. 
  • The program will be appropriately named keeping the objectives in view and will have BSF co-branding with Skill India and NSDC. 

Learn more: BSF and NSDC sign MoU on Skill Development 

14. C. Jharkhand 

  • State Cabinet of Jharkhand Government has approved recently the anti-conversion Bill labeled Freedom Bill 2017.
  • Provisions in the Religious Freedom Bill 2017 carry jail term of three years and/or fine of Rs 50,000 for anyone found guilty of converting people by alluring or forcing them.
  • If the person being converted is a minor girl belonging to the Scheduled Caste or Scheduled Tribe community, the punishment will go up from three years to four years, and the fine from Rs 50,000 to Rs 1 lakh (either or both).
  • The Bill is set to be brought in the Assembly in the monsoon session.
  • Among other states where such a legislation has been brought into effect are Rajasthan, Madhya Pradesh, Himachal Pradesh and Chhattisgarh.
  • The bill is a long delayed demand from Sarna followers (who follow their own traditional religion).

Learn more: Jharkhand Cabinet clears anti-conversion Bill