GK Quiz | 22 September 2020

Q1. The Financial Intelligence Unit – India (FIU-IND) is authorized to obtain which of the following reports?

1. Cash transaction reports (CTRs)
2. Cross border wire transfer reports
3. Suspicious transaction reports (STRs)

Select the correct answer using the codes given below:

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

Solution: C)

Explanation:

About the Financial Intelligence Unit – India (FIU-IND):

• It was set by the Government of India in 2004 as the nodal agency for receiving, analyzing and disseminating information relating to suspect financial transactions.
• The agency is authorized to obtain Cash transaction reports (CTRs), Suspicious transaction reports (STRs) and Cross border wire transfer reports
• Composition:

• It is a multidisciplinary body with members from various government departments.
• Its members are inducted from organizations including Central Board of Excise and Customs (CBEC), Central Board of Direct Taxes (CBDT), Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Department of Legal Affairs and Intelligence agencies of the government.

• It is mandatory for banks in India to furnish a monthly CTR to the FIU on all transactions over Rs. 10 lakh or its equivalent in foreign currency or a series of integrally connected transactions that add up to more than Rs. 10 lakh or its equivalent in foreign currency.

Hence, option C is correct.

 

Q2. Consider the following statements about round tripping:

1. It refers to money that leaves the country through various channels and makes its way back into the country often as foreign investment.
2. It is used for tax evasion and money laundering in international scenarios

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

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

Solution: D)

Explanation:

Statements 1 and 2: About Round tripping:

• It is also known as round-trip transactions or “Lazy Susans”.
• It denotes a trip where a person or thing returns to the place from where the journey began.
• In the context of black money, it leaves the country through various channels such as inflated invoices, payments to shell companies overseas, the hawala route and so on.
• This involves black money and is allegedly often used for stock price manipulation.
• It is used for tax evasion and money laundering in international scenarios

So, both statements are correct and hence, option D is correct.

 

Q3. Chendamangalam Saree, recently seen in news, is a GI tagged product from-

1. Kerala
2. Karnataka
3. Tamil Nadu
4. Andhra Pradesh

Solution: A)

Explanation:      

About Chendamangalam Saree:

• It is recognizable by its puliyilakara border, a thin black line that runs side by side with the sari’s selvedge.
•  It has extra-weft chuttikara and stripes and checks of varying width.
• Kuthampully, Balaramapuram and Chendamangalam are the three major weaving centres in Kerala and all three are famous for the weaving of Kasavu Saris as well as Kerala Saris with colored borders. The Indian government has given these clusters a Geographical Indication Tag.

Hence, option A is correct.

 

Q4. Consider the following statements regarding Geographical Indication (GI):

1. It is an indication used to identify goods having special characteristics originating from a definite geographical territory.
2. The registration of a GI is valid for a period of 20 years.

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

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

Solution: B)

Explanation:

Statements 1 and 2: About Geographical Indication (GI):

• A GI is primarily a natural or a manufactured product (handicrafts and industrial goods), an 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 a 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 the Geographical Indications of Goods (Registration & Protection) Act, 1999.

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

 

Q5. Samarth Scheme is implemented by which of the following ministry?

1. Ministry of Textiles
2. Ministry of Steel
3. Ministry of Tourism
4. Ministry of Food Processing Industries

Solution: A)

Explanation:

About Samarth Scheme (also known as the Scheme for Capacity Building in Textile Sector (SCBTS)):

• It seeks to provide demand-driven, placement oriented National Skills Qualifications Framework (NSQF) compliant skilling programmes.
• Its target is to train 10.00 lakh persons (9 lakhs in organized & 1 lakh in traditional sector) excluding Spinning & Weaving in the organized sector.
• It is implemented by the Ministry of Textiles.
• Following are the key features of the scheme:

• Training of Trainers (ToT)
• Aadhar Enabled Biometric Attendance System (AEBAS)
• CCTV recording of training programme
• Dedicated call centre with a helpline number

Hence, option A is correct.

 

Q6. Consider the following statements with reference to Blue flag programme:

1. It started in Spain in 1980.
2. Japan and South Korea are the only countries in South and southeastern Asia to have Blue Flag beaches.
3. Rushikonda beach in Andhra Pradesh will be the first in Asia to get the Blue Flag certification.

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

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

Solution: B)

Explanation:

Statement 1,2 and 3:  For the first time, eight beaches of India are recommended for the Blue flag certification on the occasion of International Coastal Clean-Up Day.

Following are the recommended eight beaches: Shivrajpur in Gujarat, Ghoghla in Daman and Diu, Kasarkod and Padubidri in Karnataka, Kappad in Kerala, Rushikonda in Andhra Pradesh, Golden in Odisha and Radhanagar in Andaman and Nicobar Islands.

About Blue Flag Programme:

• It started in France in 1985 and has been implemented in Europe since 1987.
• The programme is run by the international, non-governmental, non-profit organization FEE (the Foundation for Environmental Education).
• Spain has the highest number of blue flag beaches.
• Japan and South Korea are the only countries in South and southeastern Asia to have Blue Flag beaches.
• Chandrabhaga beach of Odisha’s Konark coast will be the first in Asia to get the Blue Flag certification
• There are nearly 33 criteria that must be met to qualify for a Blue Flag certification, such as the water meeting certain quality standards, having waste disposal facilities, being disabled-friendly, have first aid equipment, and no access to pets in the main areas of the beach.  Some criteria are voluntary and some compulsory.

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

 

Q7. With reference to the Integrated Coastal Zone Management Plan (ICZM), consider the following statements:

1. The concept of ICZM was born in 1992 during the Earth Summit of Rio de Janeiro.
2. It aims to improve the livelihood of coastal communities and conserve the coastal ecosystem.
3. It is being implemented by the Department of Forests and Environment with assistance from the Union Ministry of Environment, Forests and Climate Change (MoEFCC).

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

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

Solution: D)

Explanation:

Statements 1,2 and 3: About Integrated Coastal Zone Management Plan (ICZM):

• The concept of ICZM was born in 1992 during the Earth Summit of Rio de Janeiro.
• The National Centre for Sustainable Coastal Management (NCSCM), Chennai, will provide scientific and technical inputs.
• It is a World Bank assisted project.
• It aims to improve the livelihood of coastal communities and conserve the coastal ecosystem.
• It is being implemented by the Department of Forests and Environment with assistance from the Union Ministry of Environment, Forests and Climate Change (MoEFCC).

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

 

Q8. Consider the following statements about Beach Environment & Aesthetics Management Services (BEAMS):

1. It is a recently launched missile in India.
2. One of its objectives is to promote the sustainable development of beach facilities.
3. It has been prepared by the Society of Integrated Coastal Management (SICOM) under the Ministry of Environment, Forest and Climate Change.

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

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

Solution: A)

Explanation:

Statement 1,2 and 3: India has recently launched its own eco-label BEAMS (Beach Environment & Aesthetics Management Services) under ICZM (Integrated Coastal Zone Management) project. It has been prepared by the Society of Integrated Coastal Management (SICOM) under the Ministry of Environment, Forest and Climate Change.

Following are the main objective of BEAMS:

• Abate pollution in coastal waters.
• Protect and conserve coastal ecosystems and natural resources.
• Promote sustainable development of beach facilities.
• Maintain high standards of cleanliness, hygiene and safety for beachgoers in accordance with coastal environment and regulations.

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

 

Q9. Consider the following statements about Nandankanan Zoological Park:

1. It is located in Jharkhand.
2. It is the fourth zoo in the world to breed White tiger and Melanistic tiger.
3. It is the only zoological park in India to become an institutional member of the World Association of Zoos and Aquarium (WAZA).

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

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

Solution: D)

Explanation:

Statement 1,2 and 3: Recently, two sloth bears died in Nandanakanan Zoological Park, which has raised concerns.

About Nandankanan Zoological Park:

• It is located in Bhubaneswar, Odisha.
• It is built right inside the forest and set in a completely natural environment.
• Its uniqueness:

• It is the second-largest heronry for Open Billed Storks in Odisha.
• It is the first zoo in the world to breed White tiger and Melanistic tiger and the first zoo in India where endangered Ratel was born in captivity.
• It is the only conservation breeding centre of Indian Pangolins in the world.
• It is the only zoological park in India to become an institutional member of the World Association of Zoos and Aquarium (WAZA), and the only zoo in India, after which an express train Puri-New Delhi express has been named as “Nandankanan Express”.
• It is the only zoo in India to have an Open-top Leopard Enclosure.

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

 

Q10. With reference to the Association of World Election Bodies (A-WEB), consider the following statements:

1. It was established in 2013 in Russia.
2. It is the largest association of Election Management Bodies (EMBs) worldwide.

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:

Statement 1 and 2: Election Commission of India has recently completed one year of Chairmanship of the Association of World Election Bodies (A-WEB).

About A-WEB:

• It was established on 14 October 2013 in Song-do, South Korea.
• It aims to foster efficiency and effectiveness in conducting free, fair, transparent and participative elections worldwide
• It is the largest association of Election Management Bodies (EMBs) worldwide.
• Its permanent secretariat is located in South Korea.
• It is the first global organization of election management bodies
• Currently, its membership consists of 115 EMBs as Members & 16 Regional Associations/Organizations as Associate Members.

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

 

Q11. Consider the following statements with reference to the Foreign Contribution (Regulation) Amendment Bill, 2020:

1. It amends the Foreign Contribution (Regulation) Act, 2010. 
2. It proposes to reduce the use of foreign funds to meet administrative costs by NGOs from the existing 50% to 20%.
3. It seeks to prohibit ‘public servants’ from receiving any foreign funding.

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

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

Solution: C)

Explanation:

Statements 1,2 and 3: The Lok Sabha passed the Fo­reign Contribution (Regulation) Amendment Bill, 2020, on 21^st Sep, 2020. The bill amends the Foreign Contribution (Regulation) Act, 2010. 

Foreign Contribution (Regulation) Amendment Bill, 2020:

• It proposes to reduce the use of foreign funds to meet administrative costs by NGOs from the existing 50% to 20%.
• It seeks to bar public servants from receiving foreign funding and to “prohibit any transfer of foreign contribution to any association/person”.
• It proposes to make Aadhaar cards a mandatory identification document for all office-bearers, directors and other key functionaries of NGOs or associations eligible to receive foreign donations.
• It provides that the government may also restrict usage of unutilized foreign contribution for persons who have been granted prior permission to receive such contribution. 
• It also adds a provision allowing the central government to permit a person to surrender their registration certificate.  The government may do so if, post an inquiry, it is satisfied that such person has not contravened any provisions of the Act
• The government may suspend the registration of a person for a period not exceeding 180 days under Foreign Contribution (Regulation) Act, 2010. The bill provides that such suspension may be extended up to an additional 180 days.

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

 

Q12. Which of the following statement(s) is/are correct with reference to Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020?

1. It replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020
2. It provides that insol­vency proceedings against defaulting compa­nies will not be initiated for at least six months starting from March 25, 2020.

Select the correct answer using the codes given below:

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

Solution: C)

Explanation:

Statements 1 and 2: The Lok Sabha has passed the Insol­vency and Bankruptcy Code (Second Amendment) Bill, 2020.

The bill replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 and provides that insol­vency proceedings against defaulting compa­nies will not be initiated for at least six months starting from March 25. The initial six ­month period would end on September 24, 2020

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

 

Q13. Which of the following countries shares their border with Botswana?

1. Zambia
2. Angola
3. South Africa
4. Namibia
5. Mozambique

Select the correct answer using the codes given below:

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

Solution: A)

Explanation:

About Botswana:

• It is a landlocked country in Southern Africa.
• It is bordered by Namibia to the north and west, Zambia and Zimbabwe to the northeast, and South Africa to the south and southeast.
• It is dominated by the Kalahari Desert, which covers up to 70% of its land surface.               

Hence, option A is correct.