Daily Quiz: 25th April 2019
1. Report on income disparity’ is published by
a) UN Sustainable Development Solutions Network
b) Centre for financial inclusion
c) World Bank
d) Oxfam
Ans: d
Justification:
- Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report on income disparity released. The report is being launched as political and business elites gather for the World Economic Forum in Davos, Switzerland.
2. With reference to National Housing Bank(NHB); consider the following statements:?
1. NHB is an apex financial institution for housing.
2. NHB is an All India Financial Institution (AIFl) set up in 1988 under the Indian Companies Act 1956.
Select the correct answer
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Ans: a
Justification:
- National Housing Bank (NHB), a Government of India owned entity was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support incidental to such institutions and for matters connected therewith.
3. With reference to Start-up ranking of states, consider the following statements:?
1. States’ Start-Up Ranking 2018 was announced by The Department of Industrial Policy and Promotion (DIPP).
2. Andhra Pradesh is ranked the best performer making it the winner for three consecutive years.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans:a
Justification:
- The Department of Industrial Policy and Promotion (DIPP) has conducted the first ever States’ Startup Ranking Exercise with the key objective to encourage States and Union Territories to take proactive steps towards strengthening the Startup Ecosystems within their jurisdictions. The methodology has been aimed at creating a healthy competition among States to further learn, share and adopt good practices. Gujarat became the best performer state this time.
4. They are the most abundant particles in the universe; do not carry electric charge; passes through great distance and recently a new source of ‘them’ named BLAZAR (a galaxy with supermassive blackhole) was discovered. Identify the correct answer from options given below:
a) Space dust
b) Subatomic particles
c) Neutrinos
d) Electrons
Ans: c
Justification:
- Neutrinos are elusive subatomic particles created in a wide variety of nuclear processes. Their name, which means “little neutral one,” refers to the fact that they carry no electrical charge. Of the four fundamental forces in the universe, neutrinos only interact with two — gravity and the weak force, which is responsible for the radioactive decay of atoms. Having nearly no mass, they zip through the cosmos at almost the speed of light.
5. Recommendations made by an internal study group of the RBI headed by Dr. Janak Raj culminated in changes regarding MCLR (Marginal Cost of funds based Lending rate) of banks. What is MCLR?
a) The interest rate at which central bank lends money to domestic banks.
b) The minimum interest rate of a bank below which it cannot lend.
c) The minimum percentage of deposits that the bank maintains in form of gold, cash or other approved securities.
d) None of the above
Ans: b
Justification:
- The marginal cost of funds based lending rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI. It is an internal benchmark or reference rate for the bank. MCLR actually describes the method by which the minimum interest rate for loans is determined by a bank – on the basis of marginal cost or the additional or incremental cost of arranging one more rupee to the prospective borrower.
