Daily UPSC Prelims Current Affairs – November 12-13-14, 2022 [Mock Test]
November 22, 2022 November 22, 2022
1. With respect to the Regional Rural Banks (RRBs), consider the following statements:
- These are unscheduled commercial banks.
- These are owned by Central Government (50%), Concerned State Govt. (15%), Sponsor Bank (35%)
- These are to maintain CRAR (Capital-to risk-weighted asset ratio) of a minimum of 15%.
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: B [Only 2]
Notes:- Regional Rural Banks were formed under RRB Act 1976 (recommended by Narasimha Working Group (1975)), for providing credit in rural areas. RRBs are scheduled commercial banks. Co-operative banks are unscheduled banks.
- These are owned by Central Government (50%), Concerned State Govt. (15%), Sponsor Bank (35%).
- It was to follow priority sector lending (75%) on the same level as commercial Bank.
- The first Regional Rural Bank “Prathama Grameen Bank” was set up on 2nd October 1975.
- The RRBs combine the characteristics of a cooperative in terms of the familiarity with the rural problems and a commercial bank in terms of its professionalism and ability to mobilise financial resources.
- RRBs are to maintain CRAR (Capital-to risk-weighted asset ratio) of a minimum of 9% (at par with commercial banks). CRAR is the ratio of a bank’s capital in relation to its risk-weighted assets and current liabilities.
2. Consider the following statements:
- SEBI, NSE, BSE and Multi-commodity exchange of India are affiliate members of International Organization of Securities Commission.
- Venture Capital Fund is a type of Alternative Investment Funds.
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: B [Only 2]
Notes:- IOSCO (International Organization of Securities Commission) is an international body for securities regulators and set standards for them. Currently from India, SEBI is an ordinary member, the International Financial Services centre authority (IFSCA) is an associate member and NSE, BSE, and Multi-commodity exchange of India are affiliate members.
- AIFs (Alternative investment fund) is a privately pooled investment vehicle which collects funds from sophisticated investors, whether Indian or foreign for investment purposes. It must be incorporated or established in India.
- VCFs (Venture Capital Fund) is a type of AIF but here major investment is in Startups or SMEs (which have greater growth potential, but more risks).
- Securities are fungible (interchangeable) and tradable financial instruments used to raise capital in public and private markets.
3. Consider the following statements:
- Lumpy skin disease is caused by Neethling virus.
- It often results in chronic debility, reduced milk production, poor growth, infertility, abortion, and sometimes death.
Which of the statements given above is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: C [Both 1 & 2]
Notes:- Union Minister for Agriculture and Farmers Welfare, launched the indigenous vaccine Lumpi-ProVacInd to protect livestock from Lumpy Skin disease. The vaccine has been developed by the National Equine Research Center, Hisar (Haryana) in collaboration with the Indian Veterinary Research Institute, Izzatnagar (Bareilly).
- Lumpy skin disease (LSD) is an infectious disease in cattle caused by a virus of the family Poxviridae, also known as the Neethling virus.
- The disease is characterized by fever, enlarged superficial lymph nodes and multiple nodules (measuring 2–5 centimetres (1–2 in) in diameter) on the skin and mucous membranes (including those of the respiratory and gastrointestinal tracts).
- Infected cattle also may develop edematous swelling in their limbs and exhibit lameness.
- The disease often results in chronic debility, reduced milk production, poor growth, infertility, abortion, and sometimes death.
