Quiz Details

1.  
Consumer Price Index is released by

[A] National Statistical Office (NSO)
[B] Central Statistical Office (CSO)
[C] Central Statistical Office (CSO)
[D] None

Correct Answer: A [National Statistical Office (NSO)]

Notes:

Consumer Price Index or CPI is the measure of changes in the price level of a basket of consumer goods and services bought by households. CPI is a numerical estimation calculated using the rates of a sample of representative objects the prices of which are gathered periodically.

2.  
Consider the following statements 1. MSF is a window for scheduled banks to borrow overnight from the RBI in an emergency situation when interbank liquidity dries up completely. 2. A G-Sec is a tradable instrument issued by the State Governments. Select the correct code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: A [1 Only]

Notes:

Marginal standing facility (MSF) is a window for banks to borrow from the RBI in an emergency when inter-bank liquidity dries up completely. The Marginal standing facility is a scheme launched by RBI while reforming the monetary policy in 2011-12.

3.  
Consider the following statements 1. Repo rate is the rate at which the central bank of a country lends money to commercial banks in event of shortfall of funds. 2. Reverse repo rate is the rate at which the RBI borrows money from commercial banks within the country. Select the incorrect code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: D [Neither 1 Nor 2]

Notes:

Repo rate is the rate at which the central bank of a country (RBI in case of India) lends money to commercial banks in the event of any shortfall of funds. Here, the central bank purchases the security. Reverse repo rate is the rate at which the RBI borrows money from commercial banks within the country.

4.  
Consider the following statements regarding Departmental Standing Committee 1. The Chairman of each of the Committees specified in Part I of the Third Schedule shall be appointed by the Chairman of the Council from amongst members . 2. The main objective of a DSC is to secure particularly more financial accountability of the Executive to the Parliament. Select the correct code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: C [Both 1 and 2]

Notes:

There are 24 department-related standing committees (DRSCs). Each of these committees have 31 members – 21 from Lok Sabha and 10 from Rajya Sabha. These members are to be nominated by the Speaker of Lok Sabha or the Chairman of Rajya Sabha respectively. The term of office of these committees does not exceed one year.

5.  
Consider the following statements regarding Monetary Policy Report 1. It is published by the Monetary Policy Committee (MPC) of SEBI. 2. It determines the policy interest rate required to achieve the inflation target of 4%. 3. The Finance Minister is ex-officio Chairman of the MPC. Select the correct code

[A] 2 only
[B] 1 and 2 only
[C] 3 only
[D] 1, 2 and 3

Correct Answer: A [2 only]

Notes:

The MPR is published by the Monetary Policy Committee (MPC) of RBI. The MPC is a statutory and institutionalized framework under the RBI Act, 1934, for maintaining price stability, while keeping in mind the objective of growth.

6.  
Integrated Disease Surveillance Project (IDSP) aims to

[A] Detect and respond to outbreaks of epidemic prone diseases.
[B] Verify unusual health events being reported on social media.
[C] Establish surveillance units at the block level so as to prepare decentralised plans for effective localised medical response systems over time.
[D] Specifically prevent and control Avian Influenza outbreaks.

Correct Answer: A [Detect and respond to outbreaks of epidemic prone diseases.]

Notes:

This web portal is for online reporting under Integrated Disease Surveillance Programme (IDSP), one of the major National Health Programme under National Health Mission for all States & UTs. The key objective of the programme is to strengthen/maintain decentralized laboratory based IT enabled disease surveillance system for epidemic prone diseases to monitor disease trends and to detect and respond to outbreaks in early rising phase through trained Rapid Response Team (RRTs).

7.  
Hawkish Stance indicates that the central bank’s top priority is to keep

[A] Inflation Low
[B] Reflation High
[C] Deflation High
[D] Stagflation Low

Correct Answer: A [Inflation Low]

Notes:

A hawkish stance indicates that the central bank's top priority is to keep the inflation low. During such a phase, the central bank is willing to hike interest rates to curb money supply and thus reduce the demand. A hawkish policy also indicates tight monetary policy.

8.  
Consider the following statements 1. Particularly Vulnerable Tribal Groups (PVTGs) are spread over 17 states. 2. PVTGs are not more vulnerable among the tribal groups. Select the incorrect code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: C [Both 1 and 2]

Notes:

PVTGs are more vulnerable among the tribal groups. Due to this factor, more developed and assertive tribal groups take a major chunk of the tribal development funds, because of which PVTGs need more funds directed for their development. In this context, in 1975, the Government of India initiated to identify the most vulnerable tribal groups as a separate category called PVTGs and declared 52 such groups, while in 1993 an additional 23 groups were added to the category, making it a total of 75 PVTGs out of 705 Scheduled Tribes, spread over 17 states and one Union Territory (UT), in the country

 

9.  
Consider the following statements 1. Disinvestment means sale or liquidation of assets by the government, usually Central and state public sector enterprises, projects, or other fixed assets. 2. The government undertakes disinvestment to increase the fiscal burden on the exchequer. Select the incorrect code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: B [2 Only]

Notes:

Disinvestment is the action of an organization or government selling or liquidating an asset or subsidiary. ... Whether disinvestment results in the divestiture or the reduction of funding, the primary objective is to maximize the return on investment (ROI) related to capital goods, labor, and infrastructure.

10.  
Consider the following statements 1. India has an ambitious plan to build a ship submersible ballistic nuclear (SSBN) fleet, comprising five Arihant-class vessels. 2. INS Arihant is the India’s only operational ship submersible ballistic nuclear. Select the correct code

[A] 1 Only
[B] 2 Only
[C] Both 1 and 2
[D] Neither 1 Nor 2

Correct Answer: C [Both 1 and 2]

Notes:

INS Arihant designated S2 Strategic Strike Nuclear Submarine is the lead ship of India's Arihant class of nuclear-powered ballistic missile submarines.The 6,000 tonne vessel was built under the Advanced Technology Vessel (ATV) project at the Ship Building Centre in the port city of Visakhapatnam.Arihant was launched on 26 July 2009, the anniversary of Vijay Diwas (Kargil War Victory Day) by Prime Minister Manmohan Singh.

11.  

Consider the following statements regarding National Council of Science Museums (NCSM).

It is the largest network of science centres/museums in the world functioning under a single administrative control.

It is an autonomous body under the Ministry of Science and Technology.

[A] 1 only
[B] 2 only
[C] Both1 and 2
[D] Neither 1 nor 2

Correct Answer: A [1 only]

Notes:

National Council of Science Museums (NCSM), an autonomous body under the Ministry of Culture, is the largest network of science centres/museums in the world functioning under a single administrative control. It is primarily engaged in spreading the culture of science in the society especially among students with a motto of ‘Communicating Science to Empower People’ through its network of Science Centres spread across India. NCSM is the implementing agency for the Science City Scheme for developing new science centres in the country of national, regional and district level.