1. Which of the following initiatives have been launched by the National Informatics Centre (NIC)?
- National Knowledge Network
- NICNET
- PARIVESH
- e-Urvarak
Select the correct answer using the codes given below:
[A] Only 1 & 2
[B] Only 2
[C] Only 1, 2 & 4
[D] 1, 2, 3 & 4
Show Answer
Correct Answer: D [1, 2, 3 & 4]
Notes:
National Knowledge Network and NICNET are major NIC initiatives for research and government connectivity. PARIVESH is an environmental management system developed with NIC’s technical support. e-Urvarak is an integrated fertilizer management system developed by NIC. All four are associated with NIC—either developed by or with significant technical contribution from the Centre.
2. With respect to the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Act, consider the following statements:
- It creates a Coordination Committee headed by Corporate Affairs Minister.
- The Committee must conclude its inquiry in 180 days from the receipt of the preliminary examination report.
- It changes the disciplinary mechanism provided under the earlier Acts.
Choose the correct answer using the codes given below:
[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: B [Only 2 & 3]
Notes:- The Bill amends the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959, and the Company Secretaries Act, 1980.
- The Bill provides mechanism for dealing with cases of misconduct in three institutes – the Institute of Chartered Accountants of India (ICAI), the Institute of Cost Accountants of India and the Institute of Company Secretaries of India.
- It changes the disciplinary mechanism under the three Acts and specifies timelines for disciplinary proceedings. It also provides more external representation on the Board of Discipline and Disciplinary Committee.
- The Bill creates a Coordination Committee headed by the Secretary of the Ministry of Corporate Affairs.
- Firms must now register with the Institutes.
- The Bill amends the Acts to provide that the Presiding Officer shall be nominated by the central government.
- The Committee must conclude its inquiry in 180 days from the receipt of the preliminary examination report.
- The Bill increases the maximum amount of fine to Rs. 10 lakhs.
3. Which of the following statements regarding “electoral bonds” are correct?
- These are financial instruments to donate money to political parties.
- These bonds have a maximum limit.
- Only State Bank of India is authorized to issue and encash these bonds.
Select the correct answer using the codes given below:
[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: C [Only 1 & 3]
Notes:
Electoral bonds are financial instruments for donating to political parties. They are issued in fixed denominations with no maximum limit. Only the State Bank of India is authorized to issue and encash these bonds. Thus, statements 1 and 3 are correct, while statement 2 is incorrect as there is no maximum ceiling.
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