Current Affairs Questions
Statutory, Regulatory & Quasi-judicial Bodies:
Monetary Policy Committee
Consider the following statements with respect to the Monetary Policy Committee (MPC)?
- It is a six member body that has to meet at least 4 times a year and is chaired by the RBI Governor.
- The rate is decided by voting and only in case of a tie, the chairman will have the second vote or casting vote.
Choose the correct answer from the code given below:
A
Only 1
B
Only 2
C
Both 1 and 2
D
Neither 1 nor 2
Insolvency And Bankruptcy Board Of India (IBBI)
Consider the following statements:
- The Insolvency and Bankruptcy Board of India (IBBI) was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016.
- IBBI has 8 members, including representatives from the Ministries of Finance and Law and the Reserve Bank of India.
- It functions under Ministry of Finance.
- IBBI has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
Which of the statements given above is/are correct?
A
1 and 2
B
2 and 3
C
1 and 4
D
None of the above
Institution Of Lokpal
Consider the following statements with respect to Institution of Lokpal in India:
- The institution of Lokpal is a non -statutory body.
- The Constitution Review Commission headed by M.N. Venkatchaliah recommended appointment of the Lokpal for the first time.
- Lokpal is a multimember body, made up of one chairperson and maximum of 10 members.
- Former Supreme Court judge Pinaki Chandra Ghose has beenappointed as India’s first anti-corruption ombudsman i.e.Lokpal.
Select the correct answer using the codes given below:
A
1 and 2
B
2 and 3
C
2 and 4
D
1, 2, 3 and 4
Small Farmer’s Agribusiness Consortium (SFAC)
Consider the following statements about Small Farmer’s Agribusiness Consortium (SFAC):
- The SFAC is an autonomous body that is promoted by the Department for Promotion of Industry and Internal Trade.
- e-NAM portal is implemented by the SFAC.
- The role of State SFACs is to aggressively promote agribusiness project development in their respective states.
Choose the incorrect statement(s) from the code given below:
A
1 only
B
2 and 3 only
C
1, 2 and 3
D
1 and 3 only
Economic Intelligence Council (EIC)
Consider the following statements about Economic Intelligence Council (EIC):
- Director of the Intelligence Bureau (IB) and the Director General of Foreign Trade are special invitees to EIC.
- Notable absentees of EIC are RBI Governor and SEBI Chairman.
- It is headed by the Union Finance Minister.
Choose the incorrect statement from the code given below:
A
2 only
B
2 and 3 only
C
1, 2 and 3
D
1 and 3 only
Lokpal & Lokayukta Act
Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:
- Lokpal can probe the Prime Minister of India only if it gets the approval of 3/4th of the members of Lokpal bench.
- In the Lokpal bench, 50% are to be judicial members.
- Lokpal Selection Committee is headed by the Chief Justice of India.
Choose the correct answer from the code given below:
A
2 only
B
2 and 3 only
C
1, 2 and 3
D
1 and 2 only
Lokpal & Lokayukta Act
Who among the following is not directly involved in the selection of ‘Lokpal’ as per Lokpal & Lokayukta Act 2013?
- Chief Justice of India
- Leader of Opposition in Lok Sabha
- Prime Minister
- Speaker Lok Sabha
- Leader of Opposition Rajya Sabha
Choose the correct answer from the code given below:
A
5 only
B
3 and 5 only
C
1 and 4 only
D
4 and 5 only
Lokpal & Lokayukta Act
Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:
- The Act extends to the whole of India, including Jammu & Kashmir and is applicable to ‘public servants’ within India only.
- The institution of Lokpal is a statutory body without any constitutional backing.
Choose the correct answer from the code given below:
A
Only 1
B
Only 2
C
Both 1 and 2
D
Neither 1 nor 2
Insurance Regulatory And Development Authority Of India
Consider the following statements about the Insurance Regulatory and Development Authority of India (IRDAI):
1. It is a constitutional body with its headquarter in Hyderabad.
2. It is the outcome of P. J. Nayak Committee
3. Insurance is a subject listed in Union List of the Indian Constitution.
Choose the correct answer from the code given below:
A
1 and 2 only
B
2 and 3 only
C
1, 2 and 3
D
3 only
Island Development Agency (IDA)
Consider the following statements vis-à-vis Island Development Agency (IDA):
- IDA is headed by the Vice Chairman, NITI Aayog.
- IDA works under the aegis of NITI Aayog.
Choose the correct answer from the code given below:
A
Only 1
B
Only 2
C
Both 1 and 2
D
Neither 1 nor 2
Monetary Policy Committee
Consider the following statements with respect to the Monetary Policy Committee (MPC)?
- It is a six member body that has to meet at least 4 times a year and is chaired by the RBI Governor.
- The rate is decided by voting and only in case of a tie, the chairman will have the second vote or casting vote.
Choose the correct answer from the code given below:
| A |
Only 1
|
|
| B |
Only 2
|
|
| C |
Both 1 and 2
|
|
| D |
Neither 1 nor 2
|
|
Insolvency And Bankruptcy Board Of India (IBBI)
Consider the following statements:
- The Insolvency and Bankruptcy Board of India (IBBI) was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016.
- IBBI has 8 members, including representatives from the Ministries of Finance and Law and the Reserve Bank of India.
- It functions under Ministry of Finance.
- IBBI has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.
Which of the statements given above is/are correct?
| A |
1 and 2
|
|
| B |
2 and 3
|
|
| C |
1 and 4
|
|
| D |
None of the above
|
|
Institution Of Lokpal
Consider the following statements with respect to Institution of Lokpal in India:
- The institution of Lokpal is a non -statutory body.
- The Constitution Review Commission headed by M.N. Venkatchaliah recommended appointment of the Lokpal for the first time.
- Lokpal is a multimember body, made up of one chairperson and maximum of 10 members.
- Former Supreme Court judge Pinaki Chandra Ghose has beenappointed as India’s first anti-corruption ombudsman i.e.Lokpal.
Select the correct answer using the codes given below:
| A |
1 and 2
|
|
| B |
2 and 3
|
|
| C |
2 and 4
|
|
| D |
1, 2, 3 and 4
|
|
Small Farmer’s Agribusiness Consortium (SFAC)
Consider the following statements about Small Farmer’s Agribusiness Consortium (SFAC):
- The SFAC is an autonomous body that is promoted by the Department for Promotion of Industry and Internal Trade.
- e-NAM portal is implemented by the SFAC.
- The role of State SFACs is to aggressively promote agribusiness project development in their respective states.
Choose the incorrect statement(s) from the code given below:
| A |
1 only
|
|
| B |
2 and 3 only
|
|
| C |
1, 2 and 3
|
|
| D |
1 and 3 only
|
|
Economic Intelligence Council (EIC)
Consider the following statements about Economic Intelligence Council (EIC):
- Director of the Intelligence Bureau (IB) and the Director General of Foreign Trade are special invitees to EIC.
- Notable absentees of EIC are RBI Governor and SEBI Chairman.
- It is headed by the Union Finance Minister.
Choose the incorrect statement from the code given below:
| A |
2 only
|
|
| B |
2 and 3 only
|
|
| C |
1, 2 and 3
|
|
| D |
1 and 3 only
|
|
Lokpal & Lokayukta Act
Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:
- Lokpal can probe the Prime Minister of India only if it gets the approval of 3/4th of the members of Lokpal bench.
- In the Lokpal bench, 50% are to be judicial members.
- Lokpal Selection Committee is headed by the Chief Justice of India.
Choose the correct answer from the code given below:
| A |
2 only
|
|
| B |
2 and 3 only
|
|
| C |
1, 2 and 3
|
|
| D |
1 and 2 only
|
|
Lokpal & Lokayukta Act
Who among the following is not directly involved in the selection of ‘Lokpal’ as per Lokpal & Lokayukta Act 2013?
- Chief Justice of India
- Leader of Opposition in Lok Sabha
- Prime Minister
- Speaker Lok Sabha
- Leader of Opposition Rajya Sabha
Choose the correct answer from the code given below:
| A |
5 only
|
|
| B |
3 and 5 only
|
|
| C |
1 and 4 only
|
|
| D |
4 and 5 only
|
|
Lokpal & Lokayukta Act
Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:
- The Act extends to the whole of India, including Jammu & Kashmir and is applicable to ‘public servants’ within India only.
- The institution of Lokpal is a statutory body without any constitutional backing.
Choose the correct answer from the code given below:
| A |
Only 1
|
|
| B |
Only 2
|
|
| C |
Both 1 and 2
|
|
| D |
Neither 1 nor 2
|
|
Insurance Regulatory And Development Authority Of India
Consider the following statements about the Insurance Regulatory and Development Authority of India (IRDAI):
1. It is a constitutional body with its headquarter in Hyderabad.
2. It is the outcome of P. J. Nayak Committee
3. Insurance is a subject listed in Union List of the Indian Constitution.
Choose the correct answer from the code given below:
| A |
1 and 2 only
|
|
| B |
2 and 3 only
|
|
| C |
1, 2 and 3
|
|
| D |
3 only
|
|
Island Development Agency (IDA)
Consider the following statements vis-à-vis Island Development Agency (IDA):
- IDA is headed by the Vice Chairman, NITI Aayog.
- IDA works under the aegis of NITI Aayog.
Choose the correct answer from the code given below:
| A |
Only 1
|
|
| B |
Only 2
|
|
| C |
Both 1 and 2
|
|
| D |
Neither 1 nor 2
|
|
