GK Quiz | 26 July 2020

Q1.  Consider the following statements regarding Income Tax Appellate Tribunal (ITAT):

1. It is a quasi-judicial institution founded in 1941.
2. At present, it has 2 benches at Delhi and Mumbai.
3. It deals with appeals under the Income-tax Act, 1961.

Which of the statement(s) given above is/are correct?

1. 1 only
2. 3 only
3. 1 and 2 only
4. 1 and 3 only

Solution: D)

Explanation:

Statements 1, 2 and 3: Recently, the Income Tax Appellate Tribunal (ITAT) has ruled in favour of Tata Education and Development Trust in a case wherein the tax department had raised a demand of more than Rs 220 crore.

About Income Tax Appellate Tribunal (ITAT):

• It is a quasi-judicial institution established in 1941 under section 5A of the Income Tax Act, 1922.
• It is established under the Ministry of Law and Justice.
• At present, it has 63 Benches.
• It deals with appeals under the Income-tax Act, 1961.
• The orders passed by the ITAT are final, and the High Court has the authority to hear an appeal only if a substantial question of law arises for determination.
• It is the oldest Tribunal in India and thus referred to as ‘Mother Tribunal’.
• Current President of the Tribunal: Justice P. P. Bhatt

So, statements 1 and 3 are correct and statement 2 is incorrect. Hence, option D is correct.

 

Q2. Consider the following statements:

1. A Commercial loan is classified as a non-performing asset when the loan payments have not been made for a minimum period of 30 days.
2. Capital-to-Risk Weighted Asset Ratio (CRAR) is the ratio of a bank’s capital to its risk-weighted assets and current liabilities.

Which of the statement(s) given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Solution: B)

Explanation:

Statements 1 and 2: A Commercial loan is classified as a non-performing asset when the loan payments remained overdue for a period of 90 days. The sum of all the loans that have been defaulted by the individuals who have acquired loans from the financial institution is known as Gross non-performing assets, while the amount that is realized after provision amount has been deducted from the gross non-performing assets is known as Net non-performing assets.

Capital-to-Risk Weighted Asset Ratio (CRAR) or Capital Adequacy Ratio (CAR) is the ratio of a bank’s capital in relation to its risk weighted assets and current liabilities. It is decided by the Central Banks.

So, statement 1 is incorrect and statement 2 is correct. Hence, option B is correct.

 

Q3. Recently, AuditOnline Application has been developed for-

1. Gram Panchayats
2. State Legislative Assemblies
3. Lok Sabha
4. State Legislative Council

Solution: A)

Explanation:

AuditOnline Application has been developed as a part of the Panchayat Enterprise Suite (PES) under the e-panchayat Mission Mode Project (MMP). An online audit of accounts of about 50,000 Gram Panchayats (GPs) will be conducted through this application during 2020-2021. All Grams Panchayats will be covered under this exercise in the next financial year.

This will be the first such exercise. The application facilitates the financial audit of accounts at all the three levels of Panchayats that is Urban Local Bodies (ULB), Line department by Auditors, District, Block and Village Panchayats.

Hence, option A is correct.

 

Q4. Consider the following statement about Pied Cuckoo:

1. The bird is listed as critically endangered species by the IUCN.
2. They are found only in Asia.
3. They come to India in the summer.

Which of the statement(s) given above is/are correct?

1. 1 and 3 only
2. 3 only
3. 1 and 2 only
4. 2 only

Solution: B)

Explanation:

Statement 1, 2 and 3: The Wildlife Institute of India (WII) has decided to study the migration of the Pied Cuckoo Bird, along with the Government of India’s Department of Biotechnology and the Indian Institute of Remote Sensing (IIRS). This is the first study in the country conducted to trace the migratory routes of the pied cuckoo.

About Pied Cuckoo Bird:

• Its scientific name is Clamator jacobinus.
• It is a bird with black and white plumage (pied) with a fancy crest on the head.
• It is found in Africa and Asia.
• In India, they are found in the central and northern part of India, where they are seen only just before the monsoon to early winter. They are also found in southern India, but those are not migratory birds.
• The bird is categorized as least concern species by the International Union for Conservation of Nature (IUCN).

So, statements 1 and 2 are incorrect and statement 3 is correct. Hence, option B is correct.

 

Q5. Unnat Bharat Abhiyan is a flagship program of which ministry?

1. Ministry of Electronics and Information Technology
2. Ministry of Science and Technology
3. Ministry of Human Resource Development
4. Ministry of Skill Development and Entrepreneurship

Solution: C)

Explanation:

Recently, TRIFED has signed MoU with IIT, Delhi for Unnat Bharat Abhiyan (UBA).

Unnat Bharat Abhiyan is a flagship program of the Ministry for Human Resource Development (MHRD). It envisioned the transformational change in rural development processes by leveraging knowledge institutions to help build the architecture of an Inclusive India.

Hence, option C is correct.

 

Q6. With reference to the draft Environmental Impact Assessment (EIA) notification 2020, consider the following statements:

1. It has been issued under the powers vested in the central government under the Environment (Protection) Act, 1986.
2. It allows for post-facto approval for projects.
3. It reduces the time period from 30 days to 20 days for the public to submit their responses during a public hearing for any application seeking environmental clearance.

Which of the statement(s) given above is/are correct?

1. 1 and 2 only
2. 3 only
3. 1,2 and 3
4. None

Solution: C)

Explanation:

Statement 1, 2 and 3:  Environmental Impact Assessment (EIA) is an important process for evaluating the likely environmental impact of a proposed project. The draft Environmental Impact Assessment (EIA) notification 2020 is issued under the powers vested in the central government under the Environment (Protection) Act, 1986.

Following are some issues related to draft EIA notification 2020:

• It allows for post-facto approval for projects. Post facto approval is the violation of the “precautionary principle and derogation of the fundamental principles of environmental jurisprudence. It implies that the clearances for projects can be given even if they have started construction or have been running phase without securing environmental clearances.
• Time period for the public to submit their responses during a public hearing for any application seeking environmental clearance is reduced from 30 days to 20 days
• The central government gets the power to categorize projects as strategic through this notification. The draft states that no information related to the strategic projects shall be placed in the public domain.
• It requires the project promoter to submit a report only once every year while under the 2006 notification, a promoter was required to submit a report every six months.

So, all statements are correct and hence, option C is correct.

 

Q7. In which state does Brahmaputra river flows?

1. Mizoram
2. Tripura
3. Arunachal Pradesh
4. Assam
5. Manipur
6. Nagaland

Select the correct answer using the codes given below:

1. 3 and 4 only
2. 1,2 and 3 only
3. 2, 3 and 6 only
4. 1, 4,5 and 6 only

Solution: A)

Explanation:

The Brahmaputra River rises from Chemayundung glacier of the Kailash range near the Mansarovar Lake and enters by the names of Siang and Dihang in India. After that, it is joined by Dibang and the Lohit, it is known by the name of Brahmaputra. It flows in Bangladesh (known by the name of Jumna) and finally merges with the Ganga River.

Tributaries: Lohit River, Kolong River, Dibang River and Dhansiri River are its main left tributaries.  Manas River, Kameng River, Raidak River, Beki River, Subansiri River, Teesta River and Jaldhaka River are its main right tributaries.

Dibrugarh, Dhubri, Tezpur and Guwahati are some important cities along Brahamaputra.

(Source: The Economic Times)

Hence, option A is correct.

 

Q8. Which of the following statement is not true?

1. In Rapid Antibody and Reverse Transcription Polymerase Chain Reaction test (RT-PCR Test), the RNA is converted to DNA for detecting viruses.
2. SARS-CoV-2 virus is a DNA virus.
3. An RNA virus is a virus that has ribonucleic acid as its genetic material.
4. Polymerase Chain Reaction is an enzymatic reaction used to amplify DeoxyRibonucleic Acid (DNA).

Solution: B)

Explanation:

RT-PCR Test stands for Rapid Antibody and Reverse Transcription Polymerase Chain Reaction Test has been used for COVID-19. SARS-CoV-2 virus is a RNA virus. In RT-PCR Test, the RNA is converted to DNA through a process called ‘reverse transcription’ and thus, RT-PCR test is used for the identification of SARS-CoV-2 RNA. Polymerase Chain Reaction is an enzymatic reaction used to amplify DeoxyRibonucleic Acid (DNA).

An RNA virus is a virus that has ribonucleic acid as its genetic material. The common cold, hepatitis C, influenza, hepatitis E, rabies, polio, measles, SARS, COVID-19, West Nile fever and Ebola virus disease are some human diseases caused by RNA viruses.

Hence, option B is correct.

 

Q9. Consider the following statements regarding the Geographical Indication (GI) tag:

1. It is governed by the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
2. Gorakhpur terracotta was the first product in India to be accorded with GI tag.
3. The registration of a geographical indication is valid for a period of 20 years.

Which of the statement(s) given above is/are incorrect?

1. 1 only
2. 3 only
3. 2 and 3 only
4. 1 and 2 only

Solution: C)

Explanation:

Statements 1, 2 and 3: Recently, Kashmir Saffron has been accorded with the Geographical Indication (GI) tag.

About GI tag:

• A GI is primarily a natural or a manufactured product (handicrafts and industrial goods), agricultural product originating from a definite geographical territory.
• It provides security to the producers as no other producer can misuse the name to market similar products, once the GI protection is granted. The name also gives an assurance of quality and distinctiveness.
• The registration of a geographical indication is valid for a period of 10 years and can be renewed for further period of 10 years each.
• Darjeeling tea was the first product in India to be accorded with GI tag in the year 2004-05.
• GI is governed by the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). It is covered as a component of intellectual property rights (IPRs) under the Paris Convention for the Protection of Industrial Property.
• In India, GI tag is issued by the Geographical Indications Registry (Chennai) and governed by Geographical Indications of Goods (Registration & Protection) Act, 1999.

So, statement 1 is correct and statement 2 and 3 are incorrect. Hence, option C is correct.

 

Q10. Which of the following states/territories shares a border with South China Sea?

1. Philippines
2. Malaysia
3. Brunei
4. Indonesia
5. China
6. Vietnam

Select the correct answer using the codes given below:

1. 1, 3 and 5 only
2. 2,3,5 and 6 only
3. 1,2,3,4,5 and 6
4. 3,4 and 6 only

Solution: C)

Explanation: Recently, Australia has backed US by rejecting China’s territorial and maritime claims in South China Sea.

About South China Sea:

• It is a part of the Pacific Ocean in Southeast Asia.
• Following states/territories shares border with South China Sea:
• China
• Philippines
• Taiwan
• Indonesia
• Vietnam
• Malaysia
• Singapore
• Brunei
• It lies to the north of the island of Borneo, south of China, west of Philippines and east & south of Vietnam.
• The Spratly Islands are a group of islands located in South China Sea. A dispute is going on between China, Taiwan, Vietnam, Brunei, Malaysia, and the Philippines, concerning ownership of the Spratly Islands,
• The Paracel Islands, Pratas Islands, Taiping Islands, the Scarborough Shoal, and the Zhongsha Islands are located in South China Sea.

Hence, option C is correct.

 

Q11. Consider the following statements about Asian Elephant:

1. It is found only in India, Bangladesh and Nepal.
2. It is listed in Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
3. It is listed as ‘Vulnerable’ on the IUCN Red List of threatened species.

Which of the statement(s) given above is/are correct?

1. 2 only
2. 1 and 2 only
3. 2 and 3 only
4. 1,2 and 3

Solution: A)

Explanation:

Statement 1, 2 and 3: Recently, researchers from Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) studied free-ranging, individually identified Asian elephants from the Nagarhole and Bandipur National Parks and Tiger Reserves.

About Asian Elephants:

• It is found in India, Bhutan, Nepal, Bangladesh and Myanmar.
• India has the largest population of Asian elephants (more than 50%).
• It is listed in Schedule I of the Wildlife (Protection) Act, 1972 and Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
• It is classified as Endangered by the International Union for the Conservation of Nature (IUCN).

So, statement 1 and 3 are incorrect and statement 2 is correct. Hence, option A is correct.