Current Affairs Questions

Institution Of Lokpal

Consider the following statements with respect to Institution of Lokpal in India:

1. The institution of Lokpal is a non -statutory body.
2. The Constitution Review Commission headed by M.N. Venkatchaliah recommended appointment of the Lokpal for the first time.
3. Lokpal is a multimember body, made up of one chairperson and maximum of 10 members.
4. 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:

Forex Swap

Which of the following are likely impact(s) of Forex Swap executed by RBI:

1. it will lead to appreciation of currency.
2. It will boost the forex reserve of RBI.
3. It will lead to skewflation.

Choose the correct answer from the code given below:

Monetary Policy Committee

Consider the following statements with respect to the Monetary Policy Committee (MPC)?

1. It is a six member body that has to meet at least 4 times a year and is chaired by the RBI Governor.
2. 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:

Economic Intelligence Council (EIC)

Consider the following statements about Economic Intelligence Council (EIC):

1. Director of the Intelligence Bureau (IB) and the Director General of Foreign Trade are special invitees to EIC.
2. Notable absentees of EIC are RBI Governor and SEBI Chairman.
3. It is headed by the Union Finance Minister.

Choose the incorrect statement from the code given below:

Small Farmer’s Agribusiness Consortium (SFAC)

Consider the following statements about Small Farmer’s Agribusiness Consortium (SFAC):

1. The SFAC is an autonomous body that is promoted by the Department for Promotion of Industry and Internal Trade.
2. e-NAM portal is implemented by the SFAC.
3. 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:

Lokpal & Lokayukta Act

Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:

1. The Act extends to the whole of India, including Jammu & Kashmir and is applicable to ‘public servants’ within India only.
2. The institution of Lokpal is a statutory body without any constitutional backing.

Choose the correct answer from the code given below:

Lokpal & Lokayukta Act

Who among the following is not directly involved in the selection of ‘Lokpal’ as per Lokpal & Lokayukta Act 2013?

1. Chief Justice of India
2. Leader of Opposition in Lok Sabha
3. Prime Minister
4. Speaker Lok Sabha
5. Leader of Opposition Rajya Sabha

Choose the correct answer from the code given below:

Lokpal & Lokayukta Act

Consider the following statements vis-à-vis ‘Lokpal & Lokayukta Act’:

1. Lokpal can probe the Prime Minister of India only if it gets the approval of 3/4th of the members of Lokpal bench.
2. In the Lokpal bench, 50% are to be judicial members.
3. Lokpal Selection Committee is headed by the Chief Justice of India.

Choose the correct answer from the code given below:

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:

Island Development Agency (IDA)

Consider the following statements vis-à-vis Island Development Agency (IDA):

1. IDA is headed by the Vice Chairman, NITI Aayog.
2. IDA works under the aegis of NITI Aayog.

Choose the correct answer from the code given below: