Current Affairs Question - 18 October 2021


Indian Economy

Articles Of The Indian Constitution


Consider the following articles of the Indian Constitution:

  1. Article 215: The Supreme Court shall be a court of record and shall have all the powers of such a court including the power to punish for contempt of itself.
  2. Article 129: High Courts to be courts of record- Every High Court shall be a court of record and shall have all the powers of such a court including the power to punish for contempt of itself.

Choose the correct answer from the options given below:

A
Only 1
B
Only 2
C
Both 1 and 2
D
Neither 1 nor 2

Indian Economy

Prompt Corrective Action (PAC)


With reference to the Prompt Corrective Action (PAC), consider the following statements:

  1. It was initiated by the RBI in 2002 to discipline banks when they report poor and risky financial performance.
  2. The PCA framework deems banks as risky if they slip below certain norms on three parameters — capital ratios, asset quality and profitability.
  3. The framework was reviewed in 2017 based on the recommendations of the working group of the Financial Stability and Development Council on Resolution Regimes for Financial Institutions in India and the Financial Sector Legislative Reforms Commission.

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

A
1 and 2
B
2 and 3
C
1 and 3
D
1, 2 and 3

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