Current Affairs Questions

Mediation And Arbitration

Consider the given statements in contest to the difference between Mediation and Arbitration:

1. In arbitration, the outcome is determined in accordance with an objective standard, the applicable law.
2. In mediation, any outcome is determined by the will of the parties.
3. In arbitration, a party's task is to convince the arbitral tribunal of its case. It addresses its arguments to the tribunal and not to the other side.
4. In mediation, since the outcome must be accepted by both parties and is not decided by the mediator, a party's task is to convince, or to negotiate with, the other side.

Choose the incorrect statement(s) from the options give below:

Public Accounts Committee (PAC)

Consider the following statements with reference to the Public Accounts Committee (PAC) and Estimate Committee:

1. PAC has 22 members, while Estimates Committee has 30 members.
2. Estimate Committee members belong to both houses of Parliament while PAC members belong to only Lok Sabha
3. PAC chairman is from opposition whereas Estimates Committee chairman is always from ruling party or dispensation.

Choose the correct answer from the option given below:

Credit Rating

With reference to the Sovereign Credit Rating, consider the following statements:

1. A sovereign credit rating is an independent assessment of the creditworthiness of a country or sovereign entity.
2. It can give investors insights into the level of risk associated with investing in the debt of a particular country, including any political risk.
3. Another common motivation for countries to obtain a sovereign credit rating is to attract foreign direct investment (FDI).

Choose the correct answer from the options given below:

National Green Tribunal (NGT)

Consider the following statements with reference to the National Green Tribunal (NGT):

1. Established in 2011, as per the National Green Tribunal Act, it is a specialised judicial body equipped with expertise solely for the purpose of adjudicating environmental cases in the country.
2. The Tribunal has jurisdiction over all civil cases involving a substantial question relating to environment and the question.
3. Any person seeking relief and compensation for environmental damage involving subjects in the legislations mentioned in Schedule I of the National Green Tribunal Act may approach the Tribunal.

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

Armed Forces (Special Powers) Act (AFSPA)

Which of the following commissions recommended to repeal Armed Forces (Special Powers) Act (AFSPA) law as it was "a symbol of oppression"?

Public Sector Banks

Which of the following committees deals with restructuring stressed assets and creating more value for public sector banks (PSBs)?

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:

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?

Corporate Insolvency Resolution Process (CIRP)

Which of the following statements is correct with reference to the Corporate Insolvency Resolution Process (CIRP)?

1. Section 7 – Initiation of corporate insolvency resolution process by financial creditor.
2. Section 8 and 9 – Initiation of corporate insolvency resolution process by operational creditor.
3. Section 10 – Initiation of corporate insolvency resolution process by corporate applicant.

Choose the correct answer from the codes given below:

Foreign Portfolio Investment

Consider the following statements with reference to the Foreign portfolio investment (FPI):

1. Foreign portfolio investment consists of securities and other financial assets passively held by foreign investors.
2. It does not require any transfer of IP, technology or know-how.
3. Portfolio investments are more accessible for the average investor than direct investments because they require much less investment capital and research.

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