Daily Current Affair Quiz: 4th May 2020
by
Mentors4ias
·
May 4, 2020
1. Which of the following statements are true?
1. Cash Management Bills are short-term money market instruments that help the government to meet its temporary cash flow mismatches.
2. Difference between CMBs and Treasury bills is that CMBs are issued for more than 90 days whereas treasury bills are issue for less than 90 days.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: a
Justification:
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Cash Management Bills are short-term money market instruments that help the government to meet its temporary cash flow mismatches. Issued by the RBI on behalf of the government, the short term bills (CMBs) have a maturity of less than 90 days. The tenure or maturity, notified amount (how much total CMBs to be issued), and date of issue of the CMBs depends upon the temporary cash requirement of the Government.
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Investment in CMBs is also recognized as an eligible investment in Government securities by banks for SLR purpose under the Banking Regulation Act, 1949. Difference between CMBs and Treasury bills is that CMBs are issued for less than 90 days whereas treasury bills are issue for more than 90 days (91 day and 364-day treasury bills).
2. Spitzer Space Telescope was launched by
(a) NASA
(b) ESA
(c) ISRO
(d) Roscosmos
Ans: a
Justification:
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NASA has decommissioned the Spitzer Space Telescope, one of its greatest observatories which has studied the universe by detecting cosmic infrared radiation for more than 16 years.
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Spitzer was launched in 2003 and was originally built to last for a minimum of 2.5 years, with the “cryogenic” (cold) instruments functioning. The cryogen was depleted after 5.5 years in 2009 after which the warm mission of the telescope began, which got multiple extensions over time.
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Spitzer was the last mission of the NASA Great Observatories program, which saw four specialized telescopes launched between 1990 and 2003. The goal of the Great Observatories is to observe the universe in distinct wavelengths of light.
3. Which of the following statements are true?
1. The UNCITRAL is a subsidiary body of the U.N. General Assembly (UNGA).
2. It is the core legal body of the UN system in the field of international trade law.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: c
Justification:
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The UNCITRAL is a subsidiary body of the U.N. General Assembly (UNGA) responsible for helping to facilitate international trade and investment. It was established by UNGA in 1966. It is the core legal body of the UN system in the field of international trade law.
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UNCITRAL’s official mandate is “to promote the progressive harmonization and unification of international trade law” through conventions, model laws, and other instruments that address key areas of commerce, from dispute resolution to the procurement and sale of goods.
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UNCITRAL carries out its work at annual sessions held alternately in New York City and Vienna, where it is headquartered.
4. Which of the following statement/s is/are true.
1. Reserve Bank of India accumulates foreign currency reserves by purchasing from authorized dealers in open market operations.
2. The Foreign exchange reserves of India consist of Foreign Currency Assets, Gold, Silver, Special Drawing Rights (SDRs) and Reserve Tranche Position.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: a
Justification:
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Foreign exchange reserves are the foreign currencies held by a country’s central bank. The reserves in India are managed by the RBI and the main component is foreign currency assets.
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Reserve Bank of India accumulates foreign currency reserves by purchasing from authorized dealers in open market operations.
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Reserve Bank of India Act and the Foreign Exchange Management Act, 1999 set the legal provisions for governing the foreign exchange reserves.
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The Foreign exchange reserves of India consist of Foreign Currency Assets, Gold, Special Drawing Rights (SDRs) and Reserve Tranche Position.
5. Global Investment Trend Monitor report is released by
(a) ILO
(b) UNCTAD
(c) WTO
(d) IMF
Ans: b
Justification:
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The Global Investment Trend Monitor report was recently released by the United Nations Conference on Trade and Development. The report focuses on trends in foreign direct investment (FDI) worldwide, at the regional and country levels and emerging measures to improve its contribution to development.
