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Current Affairs Flashcards

1
Q

What is National Commission for Protection of Child Rights (NCPCR) and under whom does it work?

JJ act was introduced by which Ministry?

A

It is an Indian statutory body established by an Act of Parliament – the Commission for Protection of Child Rights (CPCR) Act, 2005.

works under the Union Ministry of Women and Child Development.

the Juvenile Justice (JJ) Act, 2015 was introduced by the Union Ministry of Women and Child Development.

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2
Q

What are the Rules of Origin?

What are the CAROTAR Rules?

What is a Free Trade Agreement?

A

As per the WTO, Rules of origin are the criteria needed to determine the national source of a product.

Each FTA has its own origin rules

CAROTAR provisions were introduced by the Indian government in 2020

Importers have to prove that imported products have undergone value addition of at least 35% in the countries of origin.
Earlier, merely a country-of-origin certificate, issued by a notified agency in the country of export was sufficient to avail the benefits of FTAs.

It is an arrangement between two or more countries or trading blocs that primarily agree to reduce or eliminate customs tariffs and non-tariff barriers on substantial trade between them.

India has FTAs with Australia, UAE, Mauritius, Japan, Singapore etc.

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3
Q

Green Methanol Production

What is Methanol?

A

Methanol is a toxic alcohol that is used industrially as a solvent, pesticide, and alternative fuel source. It also occurs naturally in humans, animals, and plants.

Benefits:

Compared to conventional fuels, renewable methanol cuts carbon dioxide emissions by up to 95%, reduces nitrogen oxide emissions by up to 80%, and completely eliminates sulfur oxide and particulate matter emissions.

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4
Q

Goals of WTO?

A

Lowers trade barriers and non-discrimination

Stimulate economic growth and employment

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5
Q

When was WTO established?

A

1955

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6
Q

Which was replaced by WTO?

A

GATT (not an institution but only a set of rules)

GATT stands for General agreement on tariffs and trade

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7
Q

Is WTO a UN specialized agency?

A

No

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8
Q

Does WTO participate in UN?

A

WTO Director General participates to the chief executive board which is the organ of coordination within theUN system .

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9
Q

What is the Structure of Governance of WTO?

A
  1. Ministerial Conference - meets every two years
  2. General Council - the WTO’s highest-level decision-making body located in Geneva
  3. Trade Policy Review Body (TPRB)
  4. Dispute Settlement Body (DSU)
  5. Appellate Body - It is a standing body of seven persons
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10
Q

What are the three councils which handle a different broad areas of trade and report to whom?

A
  1. The Council for Trade in Goods (Goods Council)
  2. The Council for Trade in Services (Services Council)
  3. The Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS Council)

These three councils report to General council.

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11
Q

What are the list of committees which deals with specific subjects in the goods council of WTO?

A

(1) Agriculture,
(2) Market access,
(3) Sanitary and Phytosanitary (measures for the control of plant diseases especially in agricultural crops) Measures,
(4) Technical barriers to trade,
(5) Subsidies and countervailing measures,
(6) Rule of origin,
(7) Anti-dumping measures,
(8) Importing licensing,
(9)Trade related Investment Measures,
(10) Safeguards,
(11) Trade facilitation,
(12) Customs valuation.

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12
Q

Who has promoted the system of floating exchange rates?

A

After the Bretton Woods system (system of fixed exchange rates) collapsed in the 1971, the IMF has promoted the system of floating exchange rates.

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13
Q

What are the Functions of IMF?

A

Provides Financial Assistance

IMF Surveillance

Capacity Development

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14
Q

What is the Governance Setup of IMF?

A
  1. Board of Governors
    It consists of one governor and one alternate governor for each member country. Each member country appoints its two governors.
  2. Ministerial Committees
    The Board of Governors is advised by two ministerial committees,
    (a) International Monetary and Financial Committee (IMFC) has 24 members , drawn from the pool of 190 governors
    (b) Development Committee - a joint committee (25 members from Board of Governors of IMF & World Bank)
  3. Executive Board - It is 24-member Executive Board elected by the Board of Governors.
  4. IMF Management
  5. IMF Members
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15
Q

What is the value of an SDR?

A

The value of an SDR is based on a basket of 5 currencies —the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.

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16
Q

Who are board of governors of the IMF from India?

A

The Finance Minister of India is the ex-officio Governor on the Board of Governors of the IMF.
RBI Governor is the Alternate Governor at the IMF.

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17
Q

The World Bank Group consists of which five development institutions?

A
  1. International Bank for Reconstruction and Development (IBRD)
  2. International Development Association (IDA)
  3. The International Finance Corporation (IFC)
  4. The Multilateral Guarantee Agency (MIGA)
  5. The International Centre for Settlement of Investment Disputes (ICSID)
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18
Q

Which two treaties are administered by the World Intellectual Property Organization (WIPO)?

A
  1. the Paris Convention for the Protection of Industrial Property (1883) and
  2. the Berne Convention for the Protection of Literary and Artistic Works (1886).
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19
Q

What are the important WIPO-administered International Treaties and Conventions relating to IPRs of which India is also a member?

A

Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure

Paris Convention for the Protection of Industrial Property

Convention Establishing the World Intellectual Property Organization

Berne Convention for the Protection of Literary and Artistic Works

Patent Cooperation Treaty

Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks- Madrid Protocol

Washington Treaty on Intellectual Property in respect of Integrated Circuits

Nairobi Treaty on the Protection of the Olympic Symbol

Convention for the Protection of Producers of Phonograms Against Unauthorized Duplication of Their Phonograms

Marrakesh Treaty to facilitate Access to Published Works by Visually Impaired Persons and Persons with Print Disabilities.

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20
Q

Does India continue to remain on the United States Trade Representative’s (USTR’s) ‘Priority Watch List’ for alleged violations of intellectual property rights (IPR)?

A

Yes.

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21
Q

What are Intellectual Property Rights?

A

Intellectual property rights (IPR) are the rights given to persons over the creations of their minds: inventions, literary and artistic works, and symbols, names and images used in commerce. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

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22
Q

Which Acts Deal with Intellectual Property Rights in India?

A

Acts Dealing with Intellectual Property Rights in India:

The Copyright Act, 1957
The Patents Act, 1970
The Trade Marks Act, 1999
The Geographical Indications of Goods (Registration and Protection) Act, 1999

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23
Q

Is WIPO one of the 15 specialized agencies of the United Nations (UN)?

Where is the headquarter of WIPO?

A

Yes

Geneva, Switzerland

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24
Q

What is Cell for IPR Promotion & Management (CIPAM)?

It is under which department?

What does it implement?

A

CIPAM has been created as a professional body under the aegis of DIPP to take forward the implementation of the National IPR Policy 2016.

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25
Q

What are two legally binding agreements reached upon during the Earth Summit?

A

Convention on Biological Diversity (CBD) and

United Nations Framework Convention on Climate Change (UNFCCC)
were the two legally binding agreements reached upon during the Earth Summit.

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26
Q

What is Nagoya protocol?

When did it come into force?

It is about what?

A

Nagoya Protocol is a 2010 supplementary agreement to the 1992 Convention on Biological Diversity (CBD).

The Nagoya Protocol is about “Access to Genetic Resources” and the “Fair and Equitable Sharing of Benefit” arising from their utilization.

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27
Q

What is IPBES?

it is related to what?

When was it established?

A

Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) is an independent intergovernmental body established by member states in 2012. The objective of IPBES is to strengthen the science policy interface for biodiversity and ecosystem services for the conservation and sustainable use of biodiversity, long-term human well-being and sustainable development.

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28
Q

What is Biological weapons convention?

A

The Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological and Toxin Weapons and on Their Destruction was the first multilateral disarmament treaty banning the production of an entire category of weapons.

29
Q

What is NPT (Nuclear Non-Proliferation Treaty)?

A

The NPT is a landmark international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy and to further the goal of achieving nuclear disarmament and general and complete disarmament.

30
Q

What is CTBT ?

A

The Comprehensive Nuclear-Test-Ban Treaty (CTBT) is a multilateral treaty that bans all nuclear explosions, for both civilian and military purposes, in all environments.

31
Q

What is Chemical Weapons Convention (CWC)?

A

The Chemical Weapons Convention is an arms control treaty that outlaws the production, stockpiling, and use of chemical weapons and their precursors.

32
Q

Is Stockholm convention a legally binding international instrument?

A

Yes

33
Q

Barak river separates into which rivers?

A

Barak river separates into Kushiyara and Surma rivers.

34
Q

What is CSR (CORPORATE SOCIAL RESPONSIBILITY)?

A

CSR require certain companies to mandatorily spend at least 2% of their average net profit of the immediately preceding three financial years on CSR activities under Section 135 of the Companies Act, 2013. A company having

a net worth of Rupees 500 crore or more.

a turnover of Rupees 1000 crore or more.

a net profit of Rupees 5 crore or more.

Foreign companies having a branch office or project office in India fulfilling criteria mentioned above.

• The qualifying company will be required to constitute a CSR Committee consisting of 3 or more directors.

35
Q

What is XR (Extended Reality)?

A

XR is an umbrella term that covers virtual reality
(VR), augmented reality (AR), mixed reality (MR).

36
Q

National Commission for Protection of Child Rights (NCPCR)

Established under which act and under which ministry?

which age group does Child refers to?

How many members are there in NCPCR?

Who appoints them, their term and till what age?

A

It is a statutory body established under the Commission for Protection of Child Rights (CPCR) Act, 2005.

It is under the administrative control of the Ministry of Women and Child Development.

Under the act, a Child is defined as a person in the 0 to 18 years age group.

This commission has a chairperson and six members of which at least two should be women.

All of them are appointed by the Central Government for 3 years

Maximum age - 65 years for Chairman and 60 years for members.

37
Q

What does the Right of Children to Free and Compulsory Education (RTE) Act, 2009 prohibit?

A

It prohibits ‘physical punishment’ and ‘mental harassment’

38
Q

What are the Constitutional provisions related to the protection of children in India?

A

Constitutional provisions related to the protection of children in India

Article 21 A: Provision for compulsory education in the age group of 6-14.
Article 24: It prohibits child labor in hazardous work until the age of 14.
Article 39 (e): It is the duty of the state to ensure that children of tender age are not abused due to economic disparity.
Article 45: It is the duty of the state to provide for the care of children in the age group of 0-6.
Article 51A(k) : The fundamental duty of parents is to ensure that their child receives education for the age group of 6 to 14.

39
Q

What is Corporal punishment?

What are the law against such punishment?

A

Corporal punishment is the most widespread form of violence against children.

It is any punishment in which physical force is used and intended to cause some degree of pain or discomfort.

There is no statutory definition of ‘corporal punishment’ targeting children in the India

laws against such punishment:
1. Right to Education Act, 2009
2. Juvenile Justice Act
3. Indian Penal Code

40
Q

What do NCPCR guidelines say about eliminating corporal punishment?

A

Every school has to constitute a ‘Corporal Punishment Monitoring Cell (CPMC)’ consisting of two teachers, two parents, one doctor, one lawyer (nominated by DLSA), counsellor, an independent child rights activist of that area and two senior students from that school.

This CPMC shall look into complaints of corporal punishments.

41
Q

What is the 1267 Al Qaeda Sanctions Committee?

A

The committee is part of the UNSC and its job is to implement international sanctions against terrorists.

It was established as the Al-Qaida and Taliban Sanctions Committee in 1999 after UNSC Resolution 1267 designated Al-Qaeda and the Taliban as terrorist bodies. In 2011, a separate committee was formed for the Taliban.

42
Q

List of exercises between India and France:

A

Army SHAKTI

Navy VARUNA

Air Force GARUDA

43
Q

MAARG portal

Launched by which ministry?

Facilitate what?

A

Commerce and industry minister will launch the MAARG platform (Mentorship, Advisory, Assistance, Resilience, and Growth) to facilitate mentorship between startups and entrepreneurs across sectors, stages, and functions.

44
Q

Hemo-halt bandage

It was developed by which institute and it is under which ministry?

What does it contain?

A

A newly developed bandage (by MACS-Agharkar Research Institute, an autonomous institute under DST) containing chitosan (a natural polymer that halts bleeding) and agonist (a substance that improves clotting) nanoparticles can rapidly minimize blood loss from wounds.

45
Q

What is GSP (Generalized System of Preferences)Status

The status is given by whom?

When was it revoked?

How does it benefit?

A

India has sought restoration of the preferential access to the US market that was revoked by Washington in 2019.

GSP is the largest and oldest U.S. trade preference program. Established by the Trade Act of 1974, GSP promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories.

46
Q

Evidence of a giant mantle plume found on Mars

A

Mantle plumes are large blobs of molten rock that rise towards the surface from the interiors of a planet. They push through the intermediate or mantle layers and accumulate at the base of the crust.

47
Q

New surgical knife detects endometrial cancer within seconds

A

The knife uses electric currents on biopsy tissue and then analyses the vapourised aerosols from the tissue in a mass spectrometer to give real-time information about activity in the tissue.

48
Q

Four dinosaur species were found in the Chilean valley

A

Scientists have found the remains of four species of dinosaurs, including a megaraptor, in an inhospitable valley in Chilean Patagonia that has emerged over the past decade as an important fossil deposit

Patagonia is a region encompassing the vast southernmost tip of South America, shared by Argentina and Chile, with the Andes Mountains as its dividing line.

49
Q

What is a bond?

A

What is a bond?

A bond represents a promise by a borrower to pay a lender their principal and usually interest on a loan.

Bonds are issued by governments, municipalities, and corporations
The interest rate (coupon rate), principal amount, and maturities will vary from one bond to the next in order to meet the goals of the bond issuer (borrower) and the bond buyer (lender)

50
Q

What does green bond mean?

How does green bond work?

A

They’re a debt instrument public and private entities issue to finance eco-friendly projects. Sustainable finance has become crucial to initiatives on reducing the devastating effects of the climate crisis.

Borrowers issue green bonds (debt securities) to secure financing for projects that will have a positive environmental impact, such as ecosystem restoration or reducing pollution. Investors who purchase these bonds can expect to make a profit as the bond matures.

In addition, there are often tax benefits for investing in green bonds.

51
Q

What is Wildlife Conservation Bond (also called Rhino bond)

A

Wildlife Conservation Bond (also called Rhino bond) is a five-year bond to protect and increase black rhino populations in protected areas in South Africa. It has been launched by World Bank with Global Environment Facility (GEF) to channelise private capital.

52
Q

Corrosion-resistant nickel alloy coating

A

A new method of deposition of Nickel alloy coatings on high-performance materials in engineering applications can replace environmentally toxic chrome coatings.

53
Q

Tripura’s Unakoti, the ‘Angkor Wat of the North-East’

How is Unakoti consist of?

Where is Angkor Wat temple?

Who built it and when?

A

It consists of gigantic rock-cut sculptures and stone images

Cambodia

Built by suryavarman ll in 12th century

54
Q

What does Writing off of Bad loans/NPA mean?

A

Writing off a loan essentially means it will no longer be counted as an asset.

By writing off loans, a bank can reduce the level of non-performing assets (NPAs) on its books.

An additional benefit is that the amount so written off reduces the bank’s tax liability.

55
Q

What are NPA/ Bad loans?

How are they described?

A

A non-performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.

Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets

  1. Substandard assets: Assets which have remained NPA for a period less than or equal to 12 months.
  2. Doubtful assets: An asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months.
  3. Loss assets: As per RBI, “Loss asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted, although there may be some salvage or recovery value.”
56
Q

Why do banks write off?

A

After the write-off, the lender moves the defaulted loan, or NPA, out of the assets side and reports the amount as a loss.

After the write-off, banks are supposed to continue their efforts to recover the loan using various options.

They have to make provisioning as well.

The tax liability will also come down as the written-off amount is reduced from the profit.

The chances of recovery from written-off loans are very high as shown by an RTI reply.

57
Q

The Geminids meteor shower

What are meteors

How is it different from other shower?

A

Meteors are usually fragments of comets.

Unlike most meteor showers, they originate not from a comet, but from an asteroid, the 3200 Phaethon.

The 3200 Phaethon was discovered on October 11, 1983. It is named after the Greek mythology character Phaethon.

As the 3200 Phaethon moves close to the Sun while orbiting it, the rocks on its surface heat up and break off.

When the Earth passes through the trail of this debris, the Geminids are caused.

Why are they called Geminids?

They are named after the constellation Gemini, from whose location in the sky meteor shower appears to originate.

58
Q

Terms associated with cancer treatment–

A

‘Terms associated with cancer treatment–

CAR -T Therapy: An individual’s own T-cells are removed, which are then modified and reintroduced to the individual. The problem with such an approach (besides the expense) is that very often when an individual is really sick, it is simply impossible to obtain enough healthy T-cells to create CAR-T cells (Chimeric antigen receptor- T cells.)

Base Editing: Just as letters in the alphabet spell out words that carry meaning, the billions of bases in the DNA spell out the instruction manual for the body. Base editing is used to create a new type of T- cell from a healthy donor that would not attack other cells, not kill each other, survive chemotherapy, and finally hunt down all other cancerous cells

59
Q

What is contingent liabilities?

A

State governments have seen a significant expansion in their contingent liabilities. Contingent liabilities here refer to the obligations of a state government to repay the principal and interest payments in case a state-owned entity defaults on a loan.

– As per the report, the guarantees issued by state governments have risen from Rs 3.12 lakh crore or 2% of GDP in 2017 to Rs 7.4 lakh crore or 3.7% of GDP.

60
Q

The Reserve Bank of India has released its report on state government budgets for 2022-23.

What are the key highlights from the RBI’s report on state govt Budgets?

A

Debt-to-GDP: The state debt-to-GDP ratio remains uncomfortably high. As per the report, the debt-to-GDP ratio has fallen from 31.1% in 2020-21 – a year when states had struggled to manage the economic fallout of the pandemic — to 29.5% in 2022-23.

– To put this number in perspective, the Fiscal Responsibility and Budget Management(FRBM) review committee headed by N K Singh, had recommended a debt-to-GDP ratio of 20% for states.

– A high debt-deficit burden leaves little room for states to manoeuvre when faced with the next economic shock. A high debt burden may also imply that states may have to pay more to service their obligations.

61
Q

What is Chamundi Hills?

A

Chamundi Hill is located in Mysore, Karnataka. The famous Chamundeswari Temple is located in the hills.

The temple was named after Chamundeshwari or, the fierce form of Shakti. It is believed that Goddess Durga slayed the demon king Mahishasura on the top of this hill which was ruled by him.

The place was later known as Mahishooru (Place of Mahisha). The British changed it to Mysore and later Kannadized it into Mysuru.

Karanji lake is the most popular lake in Chamundi Hills. The lake is owned by the Mysore Zoo.

62
Q

What is PRASHAD scheme?

A

About the PRASHAD Scheme:
The National Mission on Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive(PRASHAD) was launched by the Ministry of Tourism in the year 2014-15.
Purpose: It is a Central Sector Scheme launched with the objective of integrated development of identified pilgrimage and heritage destinations.
Objectives of the Scheme:
To enhance tourism attractiveness in a sustainable manner.
To harness pilgrimage tourism so that it directly affects and multiplies employment generation and economic development.
Furthermore, to promote local art and culture, handicraft and cuisines, etc.
To develop world-class infrastructure in religious destinations.

63
Q

History of Osman Sagar and Himayat Sagar

A

Osman Sagar and Himayat Sagar were built in 1920 and 1927, respectively, under the last Nizam-era ruler Mir Osman Ali Khan, after the devastating 1908 floods in Hyderabad.

The reservoirs were created by building dams on the River Musi (Musi is also known as Moosa or Muchkunda and is a major tributary of the Krishna River).

64
Q

SHAKTI Policy or SHAKTI scheme

What is the aim of this scheme?

A

SHAKTI (Scheme to Harness and Allocate Koyla Transparently in India).

Why in News? Ministry of Power has announced a Scheme for Procurement of Aggregate Power of 4500 MW on competitive basis for five years on Finance, Own and Operate (FOO) basis under B (v) of SHAKTI Policy.

The aim of the Shakti scheme is to ensure the availability of coal to all the Thermal Power Plants in India, in a way that is transparent and objective.

Under the scheme, PFC Consulting Ltd has invited bids for the supply of 4,500 MW.

The Ministry of Coal has been requested to allocate around 27 MTPA (Million Tonnes per Annum) for this.

65
Q

What is wet leasing and dry leasing?

A

Why do airlines lease aircraft?
• A lot of planes used by airlines in India are not owned but leased. Airlines and aircraft operators prefer leasing planes in order to avoid the massive lump sum payments

Wet leasing means renting the plane along with the operating crew and engineers while dry leasing refers to taking only the aircraft on rent.

The technical term for wet leasing is ACMI which stands for aircraft, crew, maintenance and insurance.

66
Q

What is digital rupee or e- rupee?

A

Why in News?

The Reserve Bank of India (RBI) has announced the launch of the first pilot for retail digital Rupee or e-rupee from December 1,2022.

e-Rupee is a form of digital token that represents legal tender. Unlike cryptocurrencies, the digital Rupee is issued in the same denominations as paper currency and coins

67
Q

What is Digi Yatra?

A

Why in News?
Union Minister for Civil Aviation Shri Jyotiraditya Scindia recently launched Digi Yatra from the Indira Gandhi International Airport, New Delhi for three airports in the country, namely New Delhi, Varanasi and Bengaluru.

Digi Yatra is conceived to achieve contactless, seamless processing of passengers at airports based on Facial Recognition Technology(FRT).

68
Q

First Loss Default Guarantee(FLDG) system

A

Why in News?
Two months after the Reserve Bank issued guidelines on digital lending, banks, non-banking financial companies and fintech players are still awaiting clarity on many aspects including the First Loss Default Guarantee(FLDG) system.

About
• FLDG is a lending model between a fintech and a regulated entity in which a third party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entities(RE).
• Under these agreements, the fintech originates a loan and promises to compensate the partners up to a pre-decided percentage in case customers fail to repay.
• The bank/NBFC partners lend through fintech but from their own books. FLDG helps expand the customer base of traditional lenders but relies on the fintech’s underwriting capabilities.
• What are the concerns related to FLDG? ➔ In the report by the RBI-constituted working group on digital lending, the group laid down the risks of FLDG agreements with unregulated entities. The other concern is that FLDG costs are often passed on to customers.

Current Affairs (5 decks)

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