Daily Quiz: 22nd June 2019
1. Which of the following statements are true:
1. The Financial Action Task Force (FATF) is an inter-governmental body established in 1989.
2. It is one of the initiatives of the G4.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans:a
Justification:
- The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 on the initiative of the G7.
- It is a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in various areas. The FATF Secretariat is housed at the OECD headquarters in Paris.
2. Corbett Tiger Reserves is located at?
(a) Meghalaya
(b) Sikkim
(c) Himachal Pradesh
(d) Uttarakhnad
Ans:d
Justification:
- Jim Corbett National Park is the oldest national park in India and was established in 1936 as Hailey National Park to protect the endangered Bengal tiger. It is located in Nainital district of Uttarakhand and was named after Jim Corbett, a well known hunter and naturalist. The park was the first to come under the Project Tiger initiative.
3. Slavery ‘Dirty list’ is associated with?
(a) Brazil
(b) South Africa
(c) Uruguay
(d) Costa Rica
Ans:a
Justification:
- Brazil’s “dirty list” is under scrutiny as major firms have been found to have used legal means to avoid being put on it.
- The dirty list is a registry of employers that have been found by the government to have engaged in slave labour.
- It gives transparency to a decision already reached by the Brazilian state. Created in 2004, it has been hailed by the United Nations as a key tool in Brazil’s anti-slavery drive.
4. Which of the following statements are true:
1. The National Anti-Profiteering Authority (NAA) has been constituted under Section 171 of the Central Goods and Services Tax Act, 2017.
2. The Authority’s core function is to ensure that the benefits of the reduction is GST rates on goods and services made by GST Council and proportional change in the Input tax credit passed on to the ultimate consumers and recipient respectively by way of reduction in the prices by the suppliers.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans:c
Justification:
- The National Anti-Profiteering Authority (NAA) has been constituted under Section 171 of the Central Goods and Services Tax Act, 2017.
- It is to ensure the reduction in rate of tax or the benefit of input tax credit is passed on to the recipient by way of commensurate reduction in prices.
- The Authority’s core function is to ensure that the benefits of the reduction is GST rates on goods and services made by GST Council and proportional change in the Input tax credit passed on to the ultimate consumers and recipient respectively by way of reduction in the prices by the suppliers.
5. Operation Sankalp is associated with?
(a) Mari time security
(b) Manuscript translation
(c) IPR rights
(d) Geographical Indication
Ans: a
Justification:
- In a major development the Indian Navy has launched Operation Sankalp in the Persian Gulf/Gulf of Oman as a measure to re-assure Indian flagged vessels transiting through the region. The development has come in the wake of the attack on oil tankers raising tensions between US and Iran.
