Daily Current Affair Quiz: 14th April 2020
1. Which of the following statements are true?
1. National Investment and Infrastructure Fund was established by the Government of India and is the second sovereign wealth fund of India.
2. It is registered with the Securities and Exchange Board of India (SEBI) under SEBI Regulations, 2012 as a Category II Alternate Investment Fund (AIF).
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: b
Justification:
- National Investment and Infrastructure Fund (NIIF) was set up as a sovereign wealth fund and is registered with the Securities and Exchange Board of India (SEBI) under SEBI Regulations, 2012 as a Category II Alternate Investment Fund (AIF). It provides long-term capital for infra-related projects.
- National Investment and Infrastructure Fund was established by the Government of India and is the first sovereign wealth fund of India. It was founded in February 2015 with an objective to provide infrastructure investment for maximizing the economic impact of the commercially available projects (Greenfield Projects and Brownfield Projects).
2. New technical assistance for the redevelopment of Varanasi railway station under the Varanasi Smart City Development Plan will be extended by
(a) Japan
(b) UK
(c) Israel
(d) Norway
Ans: b
Justification:
- Varanasi Smart City Development Plan: New technical assistance for the redevelopment of Varanasi railway station under the Varanasi Smart City Development Plan will be extended by the UK.
3. Which of the following statements are true?
1. NBFCs whose asset size is of ₹ 500 cr or more as per last audited balance sheet are considered as systemically important NBFCs.
2. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: c
Justification:
- It is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/ debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business.
- NBFC cannot accept demand deposits; NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
- Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
- Unlike banks, CRR does not apply on any NBFCs while a lower SLR of 15% applies only to Deposit taking NBFC.
- NBFCs get license under Companies Act, 1956 and Banks under Banking regulation Act.
4. Which of the following statement/s is/are true.
1. Tejas is a light combat and multi-role supersonic fighter aircraft.
2. The Tejas is the first supersonic fighter developed by Hindustan Aeronautics Limited (HAL)
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: a
Justification:
- Tejas is the Light Combat Aircraft, indigenously-designed by Aircraft Development Agency (ADA) under the Defence Research and Development Organisation (DRDO) and manufactured by Hindustan Aeronautics Limited (HAL).
- It came from the Light Combat Aircraft (LCA) programme, which began in the 1980s to replace India’s ageing MiG-21 fighters. In 2003, the LCA was officially named “Tejas”. Tejas is a single engined, light weight, highly agile, multi-role supersonic fighter.
- It is designed to carry a range of air-to-air, air-to-surface, precision-guided and standoff weaponry.
- Tejas is the second supersonic fighter (Mach 1.8) developed by Hindustan Aeronautics Limited (HAL) after the HAL HF-24 Marut.
5. Finance Industry Development Council (FIDC) is associated with
(a) MSMEs
(b) Startups
(c) NBFCs
(d) None of the above
Ans: c
Justification:
- It is a Self-Regulatory Organization (SRO) cum Representative Body of the Non-Banking Finance Companies (NBFCs), registered with the Reserve Bank of India.
- FIDC was formed in 2004, and is the recognized face of NBFCs, especially, those engaged in Assets and Loan financing.
