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Quiz 558: GK Questions for All Examinations

1. Which among the following are the features of Exchange Earners’ Foreign Currency Accounts:
  1. They are opened with RBI
  2. They Earn interests on deposits
  3. They need a minimum balance to be maintained by the account holder

Choose the correct options:

[A] Only 1
[B] 1 & 2
[C] 2 & 3
[D] None of them

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Correct Answer: D [None of them]
2. Collateralized Borrowing and Lending Obligation (CBLO) is a ____?
[A] Money Market Instrument
[B] Monetary Policy Instrument
[C] Investment fund
[D] Capital Market Instrument

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Correct Answer: A [Money Market Instrument]
3.  India borrows from the World Bank through International Bank for Reconstruction and Development (IBRD) and International Development Association(IDA). Consider the following statements in this context:
  1. IDA funds are one of the most concessional external loans,
  2. IBRD funds are costlier and at par with the commercial external borrowings in terms of interest rates
  3. IDA loans are used largely Infrastructure projects

Which among the above statements is/ are correct?

[A] 1 Only
[B] 1 & 2 only
[C] 1, 2 & 3
[D] 2 & 3 only

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Correct Answer: A [1 Only]
Notes:
IDA funds are one of the most concessional external loans for Government of India (GOI) and are used largely in social sector projects that contribute to the achievement of Millennium Development Goals (MDGs).IBRD funds are relatively costlier but cheaper than commercial external borrowings. The GOI utilizes IBRD loans primarily for infrastructure projects. However, sometimes a blend of IDA credits and IBRD loans is also used.
4. Major recommendation of which among the following committees led to restructure the Swarnajayati Gram Swarojgar Yojna to National Rural Livelihood Mission?
[A] Suresh Tendulkar Committee
[B] Radhakrishna Committee
[C] Y S P Thorat Committee
[D] Usha Thorat Committee

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Correct Answer: B [Radhakrishna Committee]
5. The Chenchu people in India have been active in protection of wildlife in which among the following protected areas of India?
[A] Nagarjunasagar Srisailam (Andhra Pradesh)
[B] Similipal (Odisha)
[C] Indravati, Udanti-Sitanadi (Chhattisgarh)
[D] Palamu (Jharkhand)

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Correct Answer: A [Nagarjunasagar Srisailam (Andhra Pradesh)]
Notes:
The Chenchus are an aboriginal tribe of the central hill regions of Andhra Pradesh, India. Their traditional way of life has been based on hunting and gathering. The Chenchus speak the Chenchu language, a member of the Telegu branch of the Dravidian language family.As per a statement of Environment Ministry, In the Nagarjunasagar Srisailam, the ‘Chenchus’ are involved in protection of Tigers.
6. Consider the following statements about Liposomes:
  1. They are one of the important cell organelles
  2. They play important role in storage of lipids in cells
  3. They play important role in cell division

Which among the above statements is/ are correct?

[A] 1, 2 & 3
[B] 1 & 2
[C] 2 & 3
[D] None of them

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Correct Answer: D [None of them]
Notes:
Liposomes are NOT celll organelles , so automatically all statements hold incorrect. Liposomes are artificially prepared vesicles made of lipid bilayer. Liposomes can be filled with drugs, and used to deliver drugs for cancer and other diseases.The use is in `Smart Drug Delivery`. A smart drug includes a diagnostic module that is programmed with medical knowledge; it is capable of directly sensing of molecular disease indicators and making a diagnostic decision. This decision is then translated into drug activation. Ideally, a smart drug will be delivered to a patient like a regular drug; however it will only become active in cells affected by a disease.
7. Consider the following:
  1. Agriculture
  2. Small-scale industries
  3. Cottage and village industries
  4. Urban Handicraft Industry

National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982, for providing credit to which among the above?

[A] 1
[B] 1,2
[C] 1, 2, 3
[D] 1, 2, 3,4

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Correct Answer: C [1, 2, 3]
Notes:
The National Bank for Agriculture and Rural Development (NABARD) came into existence on 12 July 1982. It was established for providing credit for promotion of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas.
8. Consider the following statements about National Food For Works Programme:
  1. It was launched in 150 most backwards districts which were mostly in the tribal belt
  2. It envisaged to provide 100 days employment
  3. The scheme is currently providing emoployment to BPL families in Rural Areas

Which among the above statements is/ are correct?

[A] Only 1
[B] 1 & 2
[C] 2 & 3
[D] 1, 2 & 3

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Correct Answer: B [1 & 2]
Notes:
The first two statements are correct. The objective of the programme was to provide additional resources apart from the resources available under the Sampoorna Grameen Rozgar Yojana (SGRY) to 150 most backward districts of the country so that generation of supplementary wage employment and providing of food-security through creation of need based economic, social and community assets in these districts are further intensified. The scheme was 100 per cent centrally sponsored. The programme has since been subsumed in National Rural Employment Guarantee Act which has come in force in 200 identified districts of the country including 150 NFFWP districts.
9. Gharana Wetland, which was notified the important Bird Area is located in which among the following states of India?
[A] Haryana
[B] Himachal pradesh
[C] Punjab
[D] Jammu & Kashmir

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Correct Answer: D [Jammu & Kashmir]
10. Since April 1, 2002 the entire net collections under the small saving schemes are transferred to States/Union Territories in India. This has been referred to as a loan from which among the following accounts?
[A] Consolidated Fund of India
[B] Consolidated Funds of States
[C] Public Account of India
[D] None of them

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Correct Answer: C [Public Account of India]
Notes:
In the Union Budget 1999-00, a National Small Savings Fund (NSSF) has been created in the Public Account of India and all collections/ disbursements under small savings certificates, deposits and public provident fund are made into/ out of this Fund. Under the new accounting system, investments from the Fund are being made in Central and State Government securities as per the norms decided from time to time by the Government of India. Therefore, the figures for small savings since 1999-2000 relate to Centre’s share in small savings and prior to this period, the figures represent total small saving collections. Since April 1, 2002 the entire net collections under the small saving schemes are transferred to States/Union Territories. Thereafter, the amount represents reinvestment by NSSF in Central Government securities from redemption proceeds. This new system of transferring the entire net collections of small savings to States and Union Territories as loans from the Public Account is in vogue.