Current Affairs Quiz , 08 Jan 2020

1) Who is not eligible under Pradhan Mantri Laghu Vyapari Maan-dhan Yojana?

a) Under Rs 1.5 Cr in GST tax bracket
b) Applicants shouldn’t be covered under NPS
c) Age bracket of 18 to 60 years
d) None of the above

Answer: c
• All small shopkeepers, self-employed persons and retail traders aged between 18-40 years and with Goods and Service Tax (GST) turnover below Rs.1.5 crore can enrol for pension scheme.
• The National Pension Scheme for Traders and Self-Employed Persons has failed to gain traction as only about 25,000 persons have opted for the scheme as against the government’s target to enrol 50 lakh by March-end.

2) The instrument of Protecting Powers is provided for under the 1961 and 1963 Vienna Conventions on Diplomatic Relations. What is it?

a) a country that represents another sovereign state in a country where it lacks its own diplomatic representation
b) diplomatic immunity needs to be provided by the host country
c) a country which voluntarily protects the refugees seeking protection against protection
d) None of the above

Answer: b
• Following the killing of Iranian military and intelligence commander Major General Qassem Soleimani in Baghdad in a drone attack carried out by the United States, the Iranian government registered its protest with the Swiss Embassy in Tehran.
• Switzerland represents the interests of the US in Iran. This is because the US itself does not have an embassy there.
• Iran’s interests in the United States, on the other hand, are represented by the Pakistan Embassy in Washington.

3) Which among the following doesn’t come under the mandate of Small Finance Banks (SFBs)?

a) Half of the loans should be up to 25 lakhs
b) Lend to big corporates and groups
c) Cannot be a business correspondent of any bank
d) Both (b) and (c)

Answer: d
• What they can do?
o Take small deposits and disburse loans.
o Distribute mutual funds, insurance products and other simple third-party financial products.
o Lend 75% of their total adjusted net bank credit to priority sector.
o Maximum loan size would be 10% of capital funds to single borrower, 15% to a group.
o Minimum 50% of loans should be up to 25 lakhs.
• What they cannot do?
o Lend to big corporates and groups.
o Cannot open branches with prior RBI approval for first five years.
o Other financial activities of the promoter must not mingle with the bank.
o It cannot set up subsidiaries to undertake non-banking financial services activities.
o Cannot be a business correspondent of any bank.

4) Higher Education Financing Agency (HEFA) is a joint venture of MHRD Government of India and Canara Bank. It is a

a) Society
b) Statutory body
c) Executive body
d) NBFC

Answer: d
• HEFA is registered under Section 8, Not-for-profit under the Companies Act 2013 as a Union Govt company and as Non–deposit taking NBFC (NBFC-ND-Type II) with RBI.

5) National Education Alliance of Technologies (NEAT) is a PPP Model between MHRD and EdTech companies. It uses application of

a) Artificial Intelligence
b) Big Data Analytics
c) Machine Learning
d) None of the above

Answer: a
• It aims to offer Adaptive and personalized learning through Artificial Intelligence (AI) to the students with specific emphasis on students from economically and socially backward regions.