Daily Current Affair Quiz: 10th October 2019
1. Which of the following statements are true?
1. Automatic Exchange of Information (AEOI) is systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country.
2. It aims to reduce global tax evasion and is to be carried out under Common Reporting Standard (CRS) of WTO.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: a
Justification:
- Automatic Exchange of Information (AEOI) is systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country, which is possible under most of the Double Taxation Avoidance Agreements (DTAAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC).
- It aims to reduce global tax evasion and is to be carried out under Common Reporting Standard (CRS) of OECD.
2. Which of the following adopted a law on data protection and privacy for its citizens known as ‘General Data Protection Regulation’ in April 2016 and started implementation of its from 25th May, 2018?
(a) Australia
(b) Canada
(c) EU
(d) USA
Ans: c
Justification:
- General Data Protection Regulation (GDPR) aims to protect all European Union (EU) citizens from data breaches. The regulation, which was approved by the EU Parliament in April 2016 after about four years of preparation and debate, came into effect on May 25, 2018.
3. Which of the following statements are true?
1. The Aravali has been identified as one of the key degraded zones to be taken up for greening under India’s target to restore 26 million hectares (mha) of its land.
2. Delhi, Gujarat and Rajasthan had already degraded over 50% of their land.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: c
Justification:
- The Aravali has been identified as one of the key degraded zones to be taken up for greening under India’s target to restore 26 million hectares (mha) of its land.
- A 2016 report from the Indian Space Research Organisation (ISRO) had also indicated that Delhi, Gujarat and Rajasthan had already degraded over 50% of their land.
4. GEMINI Device is related to?
(a) Weather forecasting and Mapping
(b) Speech to text device for visually challenged persons
(c) Digital tool for Census
(d) Cloud seeding
Ans: a
Justification:
- The device is developed for effective dissemination of emergency information and communication on Ocean States Forecast and mapping of Potential Fishing Zones (PFZ) to fishermen.
- Ocean States Forecast provides the accurate state of the ocean that includes the forecasts related to winds, waves, ocean currents, water temperature, etc.
5. Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of Indian stock market without registering themselves directly?
(a) Certificate of Deposits
(b) Commercial Paper
(c) Promissory Note
(d) Participatory Note
Ans: d
Justification:
- A Participatory Note (PN or P-Note) is a derivative instrument issued in foreign jurisdictions, by a SEBI registered Foreign Institutional Investor (FII) or its sub-accounts or one of its associates, against underlying Indian securities. The underlying Indian security instrument may be equity, debt, derivatives or may even be an index.
