Daily Current Affair Quiz: 4th November 2019

1. Which of the following statements are true

1. Serious Fraud Investigation Office (SFIO) functions under the Ministry of Corporate Affairs (MCA)

2. It was established in 2003, based on recommendations by the Naresh Chandra Committee on Corporate Audit and Governance.

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

 

Ans: c

Justification:

• SFIO comes under the Ministry of Corporate Affairs (MCA).
• It is a multi-disciplinary organisation that investigates and guides prosecution in white-collar fraud requiring expertise in forensic auditing, corporate law, information technology, capital markets, taxation, and other allied fields.
• It was established in 2003, based on recommendations by the Naresh Chandra Committee on Corporate Audit and Governance.

 

2. Programme for International Student Assessment (PISA) is conducted by:

(a) OECD

(b) UNESCO

(c) Amnesty International

(d) None of the above

 

Ans: a

Justification:

• The Organisation for Economic Cooperation and Development (OECD) conducts PISA every three years.

 

3. The money multiplier can be associated with

(a) The amount of money that banks generate with each unit of reserves

(b) Statistical estimate constructed using the prices of a sample of representative items

(c) Is a metric that quantifies induced consumption

(d) Annual measure of the economic output of a nation

 

Ans: a

Justification:

• The money multiplier is the amount of money that banks generate with each unit(ex: dollar, Rs, Yen etc.) of reserves. Reserves is the amount of deposits that the Federal Reserve requires banks to hold and not lend. Banking reserves is the ratio of reserves to the total amount of deposits

 

4. Which of the following pairs of Sustainable goals are correctly matched?

1. Tehri Dam: Uttarakhand

2. Bhakra Nangal Dam: Himachal Pradesh

3. Hirakud Dam: Odisha

(a) 1,2 and 3

(b) 1 and 2

(c) 1 and 3

(d) 2 and 4

 

Ans: a

Justification:

• The Tehri Dam of Uttarakhand is the highest dam in India, 2nd highest in Asia and 8th highest in the World.
• Bhakra Nangal Dam is the largest dam in India across the Sutlej River Himachal Pradesh.
• Hirakud dam is one of the longest dams in the world. The dam is constructed on Mahanadi in Sambalpur Orissa.

 

5. Report on Unemployment in India is released by:

a) Enforcement Directorate

b) Reserve Bank of India

c) Ministry of Finance

d) The Centre for Monitoring Indian Economy

Ans: d

Justification:

• The Centre for Monitoring Indian Economy (CMIE) has released a report on Unemployment in India.