Current Affairs Questions

Insolvency And Bankruptcy Code (IBC) 2016

Which of the statement(s) is/are correct regarding the Insolvency and Bankruptcy Code (IBC) 2016?

1. It sets out three classes of persons who can trigger the corporate insolvency resolution process (CIRP) – financial creditors, operational creditors and corporate debtors.
2. It covers all individuals, companies, Limited Liability Partnerships (LLPs) and partnership firms.
3. Insolvency and Bankruptcy Board of India (IBBI) has been appointed as a regulator and it can oversee these proceedings.
4. National Company Law Tribunal (NCLT) for companies and LLPs and Debt Recovery Tribunal (DRT) for individuals and partnership firms.

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Captive Employment Initiative

Recently, under which of the following scheme, Ministry of Rural Development initiated ‘Captive Employment’ initiative?

First Indigenous Calf Clone

Recently, the National Dairy Research Institute (NDRI) achieved new milestone by producing country's first indigenous calf clone of a cattle breed? What is the name of the indigenous cattle breed?

Biofloc Fish Farming Technology

With reference to the Biofloc Fish Farming Technology, consider the following statements:

1. It is a technique of improving the quality of water by balancing carbon and nitrogen in the system.
2. This technology is based on the principle of flocculation within the system.
3. Fishes like Singhi (Heteropneustes fossilis), Magur (Clarias batrachus), Common Carp (Cyprinus carpio), Rohu (Labeo rohita), Tilapia (Oreochromis niloticus), Milkfish (Chanos chanos) are considered suitable for biofloc fish farming.

Choose the correct statement(s) from the codes given below:

India’s First Green Steel Brand

What is the name of India’s first Green Steel Brand, recently launched by the government?

Insolvency And Bankruptcy Board Of India

Consider the following statements with reference to the Insolvency and Bankruptcy Board of India

1. It was established on 2^nd October, 2015 under the Insolvency and Bankruptcy Code, 2015.
2. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information.
3. It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.

Choose the incorrect statement(s) from the options given below:

Monetary Policy Framework Agreement

With reference to the Monetary Policy Framework Agreement of the Reserve Bank of India, consider the following statements:

1. The Government of India and Reserve Bank of India signed a Monetary Policy Framework Agreement in 2014.
2. The objective of monetary policy framework is to primarily maintain price stability, while keeping in mind the objective of growth.
3. As per the agreement, RBI would set the policy interest rates and would aim to bring inflation below 6 per cent by January 2016 and within 4 percent with a band of (+/-) 2 per cent for 2016-17 and all subsequent years.

Choose the incorrect statement(s) from the options given below:

Types Of Steel

Consider the statements with reference to the different types of steel:

1. Stainless steels contain a minimum of 10% chromium and are more resistant to corrosion than normal steels.
2. Electrical steel, also known as silicon steel, it is specialty steel made from the alloying of silicon with iron.
3. Tool steels are wear-resistant, ferrous alloys based on iron and carbon with high levels of alloying (hardenability and property modifying) elements such as chromium, molybdenum, tungsten, and vanadium.

Which of the statement(s) given above is/are correct?

Urea And DAP/MOP DAP

Consider the following statements with reference to the government interventions in Urea and DAP/MOP DAP (di-ammonium phosphate) MOP (muriate of potash):

1. Government sets a controlled Maximum Retail Price (MRP) at which urea must be sold to farmers.
2. Government involvement in DAP and MOP is limited to paying producers and importers a fixed nutrient based subsidy which works out to be roughly 35 per cent of the cost of production.
3. DAP and MOP producers and importers receive a Nutrient Based Subsidy (NBS) based on a formula that determines the amount of N, P and K in a given amount of fertiliser.
4. In case of Urea, imports are canalised—only selected agencies are allowed to import urea into India.

Choose the correct statement(s) from the codes given below:

Post Devolution Revenue Deficit

Consider the given statements with reference to the Post Devolution Revenue Deficit:

1. It is provided to the States under Article 276 of the Constitution.
2. The grants are released as per the recommendations of the Finance Commission in monthly installments to meet the gap in revenue accounts of the States post-devolution.

Choose the correct statement(s) from the options below: