neo ias current affairs exclusive test series sample set 03 … · 2019-03-12 · neo ias current...

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Neo IAS Current Affairs Exclusive Test Series

Sample set 03 – Question Set

(PIB Exclusive Question Set – 01, October 2018)

Click here to take this sample test online

1. Ans: C

It is a Central Sector scheme of Ministry of Social Justice & Empowerment for Senior Citizen

under BPL category.

Why in news?

A Distribution camp for free of cost distribution of Aids and Assistive Living devises

under Rashtriya Vayoshri Yojana (RVY), a scheme of Social Justice & Empowerment

Department for Senior Citizen under BPL category, was recently organized in Delhi by Artificial

Limbs Manufacturing Corporation of India (ALIMCO), a PSU working under the aegis of

Ministry of Social Justice and Empowerment.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=183917

Rashtriya Vayoshri Yojana (RVY):

The Scheme aims at providing Senior Citizens, belonging to BPL category and suffering from

any of the age related disability/infirmity Low vision, Hearing impairment, Loss of teeth and

Locomotor disability, with such assisted-living devices which can restore near normalcy in their

bodily functions, overcoming the disability/infirmity manifested.

This is a Central Sector Scheme, fully funded by the Central Government. The expenditure for

implementation of the scheme will be met from the “Senior Citizens’ Welfare Fund”.

Under the scheme, free of cost distribution of the devices, commensurate with the extent of

disability/infirmity that is manifested among the eligible senior citizens will take place.

In case of multiple disabilities/infirmities manifested in the same person, the assistive devices

will be given in respect of each disability/impairment.

Beneficiaries in each district will be identified by the State Governments/UT Administrations

through a Committee chaired by the Deputy Commissioner/District Collector.

As far as possible, 30% of the beneficiaries in each district shall be women.

https://docs.google.com/forms/d/16KIGqsaNGnZoZzJqHXGpHUFroLgEKfisGfO7tg2L4LY/edit



2. Ans: C

Why in news?

21 countries in the Indian Ocean Rim Association (IORA) recently adopted the Delhi

Declaration on Renewable Energy in the Indian Ocean Region. The declaration was the

outcome of the 2nd IORA Renewable Energy Ministerial Meeting.


The Indian Ocean Rim Association (IORA):

The Indian Ocean Rim Association was set up with the objective of strengthening regional

cooperation and sustainable development within the Indian Ocean Region with 21 Member

States and 7 Dialogue Partners.

The IORA is a regional forum, tripartite in nature, bringing together representatives of

Government, Business and Academia, for promoting co-operation and closer interaction among

them.

It is based on the principles of Open Regionalism for strengthening Economic Cooperation

particularly on Trade Facilitation and Investment, Promotion as well as Social Development of

the region.

India, Australia, Iran, Indonesia Thailand, Malaysia, South Africa, Mozambique, Kenya, Sri

Lanka, Tanzania, Bangladesh, Singapore, Mauritius, Madagascar, UAE, Yemen, Seychelles,

Somalia, Comoros and Oman are members of IORA.

The Delhi declaration on Renewable Energy in the Indian Ocean Region:

It calls for collaboration among IORA member states in meeting the growing demand for

renewable energy in the Indian Ocean littorals, development of a common renewable energy

agenda for the Indian Ocean region and promote regional capacity building.

The declaration also calls for promotion of technology development and transfer, strengthening

of public private partnerships in renewable energy and collaboration among IORA member

states and the member nations of the International Solar Alliance (ISA).

IORA member countries resolved to collaborate with the International Renewable Energy

Agency (IRENA). As per the declaration adopted, IORA member nations will also collaborate

with the ISA member nations to exchange knowledge and share views and potential interests in

the renewable energy sector.



NEO IAS CURRENT AFFAIRS EXCLUSIVE ONLINE PRELIMS TEST SERIES

17 full length current affairs tests (1700 questions).

Dedicated tests for each month of 2018 and 2019 (till March) - 100 questions

each.

Most relevant topics from 2017 - 2 tests included.

Detailed coverage of PIB and The Hindu

Coverage of 8 national newspapers and various current affairs magazines like

Yojana and Down to Earth.

The tests can be taken online, anytime and anywhere.

Detailed and exhaustive answer key with the original news link is provided in

downloadable format for revision purpose.

Download more sample question and answer sets from neoiascap.com. The trick with

prelims is to practice maximum no. of questions. Enroll with the Neo IAS current

affairs test series and attend prelims with surety.

Fee: Rs.1,180 /- (inclusive of GST)

Contact: +91-9188152205,

+91-9446331522

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series/uncategorized/

3. Ans: C

Why in news?

The Employees’ State Insurance Corporation (ESIC) was awarded the ‘ISSA Good Practice

Award’ for administrative solution for coverage extension at the ‘Regional Social Security

Forum for Asia and the Pacific’ held recently at Kuala Lumpur, Malaysia.


The International Social Security Association (ISSA):

https://ww1.issa.int/the-issa

https://neoiascap.com/2019/02/05/current-affairs-exclusive-prelims-test-series/uncategorized/

https://www.neoias.com/index.php/current-affairs-test-series-2019-registration.html




https://ww1.issa.int/the-issa


The International Social Security Association (ISSA) is the world’s leading international

organization for social security institutions, government departments and agencies.

The ISSA promotes excellence in social security administration through professional guidelines,

expert knowledge, services and support to enable its members to develop dynamic social

security systems and policy throughout the world.

The ISSA was founded in 1927 under the auspices of the International Labour Organization.

The ISSA has more than 330 member organizations in 158 countries.

It has its headquarters in Geneva, Switzerland, in the International Labour Office (ILO).

The ESI Corporation hosts ISSA Liaison Office for South Asia at New Delhi. The Liasion Office

coordinates with the Member countries and Social Security Institutions in Bhutan, Nepal,

Bangladesh, Sri Lanka and Iran on activities of ISSA related to social security.

4. Ans: C

Why in news?

An innovative mobile health App launched by the Indian Air Force (IAF) to provide health

information to the users, including first-aid and other health and nutritional topics. It is the

first mobile health app in the three Armed Services.


MedWatch:

It is an innovative mobile health App launched by the Indian Air Force (IAF) to provide health

information to the users, including first-aid and other health and nutritional topics. It is the

first mobile health app in the three Armed Services.

Key facts:

The app is conceived by the doctors of IAF and developed inhouse by Directorate of Information

Technology (DIT) with ZERO financial outlay.

‘MedWatch’ will provide correct, Scientific and authentic health information to air warriors and

all citizens of India.

It comprises of host of features like information on basic First Aid, Health topics and

Nutritional Facts; reminders for timely Medical Review, Vaccination and utility tools like Health

Record Card, BMI calculator, helpline numbers and web links.



5. Ans: B

Why in News?

The Indian Council of Forestry Research and Education (ICFRE) has signed two Memorandums

of Understanding (MoUs) with Navodaya Vidyalaya Samiti (NVS) and Kendriya Vidyalaya

Sangathan (KVS).


Prakriti Programme:

Prakriti’ programme, which aims to promote awareness about forests and environment and

stimulate interest among the students of NVS and KVS in maintaining a balanced environment

and for acquiring skills that reflect care and protection towards forests, environment and

society.

The main objective behind the agreements is to provide a platform for the school children to

learn practical skills towards sustainable use of the resources.

They aim to make the Indian youth more sensitive towards national and global issues of

environment and thus, help them become responsible citizens.

6. Ans: D

Why in news?

The Union Cabinet has approved the signing of a Memorandum of Understanding (MoU)

between the Institute of Chartered Accountants of India (ICAI) and Certified Professional

Accountants Afghanistan (CPA Afghanistan).

http://www.pib.nic.in/PressReleaseIframePage.aspx?PRID=1550441

The Institute of Chartered Accountants of India (ICAI):

https://www.icai.org/new_post.html?post_id=165&c_id=195

The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act

of Parliament of India, ‘The Chartered Accountants Act, 1949, to regulate the profession of

Chartered Accountancy in India.

ICAI is the second largest professional Accounting & Finance body in the world.

ICAI is the only licensing cum regulating body of the financial audit and accountancy

profession in India.

It recommends the accounting standards to be followed by companies in India to National

Advisory Committee on Accounting Standards (NACAS).


http://www.pib.nic.in/PressReleaseIframePage.aspx?PRID=1550441

https://www.icai.org/new_post.html?post_id=165&c_id=195


ICAI is solely responsible for setting the Standards on Auditing (SAs) to be followed in the audit

of financial statements in India.

ICAI is one of the founder members of the International Federation of Accountants (IFAC),

South Asian Federation of Accountants (SAFA), and Confederation of Asian and Pacific

Accountants (CAPA).}

7. Ans: C

Why in news?

Department of Consumer Affairs & NCDRC had recently organized a conference to review

functioning of State Commissions and District Fora.


National Consumer Disputes Redressal Commission (NCDRC):

The National Consumer Disputes Redressal Commission (NCDRC), India is a quasi-judicial

commission in India which was set up in 1988 under the Consumer Protection Act of 1986.

The commission is headed by a sitting or retired judge of the Supreme Court of India.

Statutory provisions:

Section 21 of Consumer Protection Act, 1986 posits that the NCDRC shall have jurisdiction

to entertain a complaint valued more than one crore and also have Appellate and Revisional

jurisdiction from the orders of State Commissions or the District fora as the case may be.

Section 23 of Consumer Protection Act, 1986, provides that any person aggrieved by an

order of NCDRC, may prefer an Appeal against such order to Supreme Court of India within

a period of 30 days.

8. Ans: B

National River Conservation Directorate is in the Ministry of Environment, Forest and Climate

Change.

Why in news?

Environment Ministry Sanctions River Pollution Abatement Project in Udhampur in Jammu &

Kashmir.

http://pib.nic.in/PressReleseDetail.aspx?PRID=1548155

National River Conservation Plan (NRCP):

National River Conservation Plan (NRCP) is a centrally funded scheme launched in 1995 aimed

at preventing the pollution of rivers.




Ministry : The Ministry of Environment, Forest and Climate Change

About the project:

The Ministry of Environment, Forest and Climate Change has sanctioned a project for

‘Pollution abatement of rivers Devika and Tawi in Udhampur, Jammu & Kashmir.

Upon completion, the project will have a significant and direct beneficial impact in terms of

reduction of pollution load in the two rivers and improvement in their water quality.

As full sewerage system will be laid in the town and its entire sewage will be treated, the project

will improve the aesthetics and sanitation conditions in Udhampur and support the Swachh

Bharat Abhiyan towards ensuring cleanliness in the town.

The main reason for the pollution of Devika and Tawi rivers in Udhampur is discharge of

untreated sewage from the town.

9. Ans: C

Why in news?

Firm and Decisive Government Action taken to preserve value and assets of IL& FS.

Government stands fully committed to ensure much needed liquidity arranged for the IL& FS

from the financial system so that no more defaults take place and the infrastructure projects

implemented smoothly.


Core Investment companies:

Core Investment companies are companies holding shares, bonds debentures and is

categorized as NBFCs by the RBI. They can’t engage in trading of the instruments they holds.

Core Investment Company (CIC) is a non-banking financial company carrying on the business

of acquisition of shares and securities and which (a) holds not less than 90 per cent of its net

assets in the form of investment in equity shares, preference shares, bonds, debentures, debt

or loans in group companies and (b) its investments in the equity shares in group companies

constitutes not less than 60 per cent of its net assets as on the date of the last audited balance

sheet.

CICs were not required to obtain Certificate of Registration (CoR) from Reserve Bank.

Practically, it is very difficult to determine what type of share transaction the CIC is engaging

with.

Considering the many associate issues, the RBI has enacted a revised regulatory framework for CICs

from 2010 onwards. The salient features of the framework are as follows:



i) Core Investment Companies (CIC) with an asset size of less than Rs100 crore will be

exempted from the requirements of registration with RBI. For this purpose all CICs belonging

to a Group will be aggregated.

ii) CICs with asset size above Rs. 100 crore but not accessing public funds are also exempted

from the requirement of registration with RBI.

iii) Due to systemic implications on account of access to public funds (such as funds raised

through Commercial Paper, debentures, inter-corporate deposits and borrowings from

banks/FIs), CICs having asset size of 100 crore or above are categorised as Systemically

Important Core Investment Companies (CICs-ND-SI) and are required to obtain Certificate of

Registration from the Reserve Bank.

10. Ans: D

Why in news?

Rejuvenated Lake and Illumination of Purana Qila inaugurated by Dr. Mahesh Sharma, in

Delhi.


Purana Qila:

Purana Qila or Old Fort in Delhi is considered to be one of the oldest fort of India. The

construction of the fort was started by Sher Shah Suri and his son Islam Shah completed it.

It is also believed that the place where the fort was constructed belonged to the Pandavas. The

fort is made up of red sandstone and has a length of 2km.

Purana Qila is built on the banks of river Yamuna and is the oldest fort of Delhi. It has been

said that the fort was previously built by the Pandavas for their kingdom Indraprastha as some

grey ware of that period was found during excavations.

Purana Qila under Mughals

Purana Qila was renovated by Humayun in 1533 and it took around five years to complete.

The fort was built inside Din Panah which was a small city in Delhi.

Sher Shah Suri defeated Humayun in 1540 and captured the fort. After winning again, the

renovation of the fort continued by Humayun.

Shah Jahan wanted to shift his capital from the old fort so he constructed Lal Qila or Red Fort.

Gateways of the fort

The walls of the fort are 18m high and the circumference of the fort is 1.5km. There are three gates in

the fort which are



Bara Darwaza

Humayun Darwaza

Talaqi Darwaza

The Bara Darwaza is still in use and it faces west. Humayun Darwaza was named so because

Humayun’s tomb is visible from here. Another view of the historians says that the gate was

constructed by Humayun that’s why it is named so.

Talaqi Darwaza or forbidden gate is the third gate of the fort. Each of the gates has two

storeys and are built with sandstone. Each gate also has two bastion towers made up of

marble.

11. Ans: B

The minimum support prices are announced by the Government of India at the beginning of

the sowing season.

Why in news?

Cabinet approves enhanced Minimum Support Prices (MSP) for Rabi Crops of 2018-19 Seasons

to be marketed in 2019-20 Season.


Minimum Support Price (MSP):

Minimum Support Price (MSP) is a form of market intervention by the Government of India to

insure agricultural producers against any sharp fall in farm prices.

The minimum support prices are announced by the Government of India at the beginning of

the sowing season for certain crops on the basis of the recommendations of the Commission for

Agricultural Costs and Prices (CACP).

MSP is price fixed by Government of India to protect the producer - farmers - against excessive

fall in price during bumper production years. The minimum support prices are a guarantee

price for their produce from the Government.

The major objectives are to support the farmers from distress sales and to procure food grains

for public distribution.

In case the market price for the commodity falls below the announced minimum price due to

bumper production and glut in the market, government agencies purchase the entire quantity

offered by the farmers at the announced minimum price.



The MSP is calculated and recommended by the CACP.

12. Ans: B

Small Industries Development Bank of India (SIDBI), had launched a National Level

Entrepreneurship Awareness Campaign, Udyam Abhilasha in 115 Aspirational Districts

identified by NITI Aayog in 28 States.

Why in news?

SIDBI launches a National Level Entrepreneurship Awareness Campaign, Udyam Abhilashain

115 Aspirational Districts identified by NITI Aayog in 28 States and reaching to around 15,000

youth.


Udyam Abhilasha:

On the occasion of Birth Anniversary of Mahatma Gandhi yesterday i.e. October 02, 2018,

Small Industries Development Bank of India (SIDBI), had launched a National Level

Entrepreneurship Awareness Campaign, Udyam Abhilashain 115 Aspirational Districts

identified by NITI Aayog in 28 States and reaching to around 15,000 youth.

SIDBI will join to contribute to “the transformation mission” unleashed for these districts. The

campaign would be running parallel from 3rd October to 8thOctober, 2018 across India.

The campaign would create and strengthen cadre of more than 800 trainers to provide

entrepreneurship training to the aspiring youths across these districts thus encouraging them

to enter the admired segment of entrepreneurs.

SIDBI has partnered with CSC e-Governance Services India Limited, a Special Purpose Vehicle,

(CSC SPV) set up by the Ministry of Electronics & IT, Govt. of India for implementing the

campaign through their CSCs.

The objectives of the missionary campaign includes :- (i) to inspire rural youth in aspirational

districts to be entrepreneurs by assisting them to set up their own enterprise, (ii) to

imparttrainings through digital medium across the country, (iii) to create business

opportunities forCSC VLEs, (iv) to focus on women aspirants in these aspirational districts to

encourage women entrepreneurship and (v) to assist participants to become bankable and avail

credit facility from banks to set up their own enterprise.



13. Ans: A

Why in news?

Government of India has constituted a group of eminent persons to study the Special Economic

Zones (SEZ) Policy of India.


SEZ Policy:

The SEZ Policy was implemented from 01st April, 2000. Subsequently the Special Economic

Zones Act, 2005 was passed by Parliament in May, 2005 and received Presidential assent on

the 23rd of June, 2005 and the Special Economic ZoneAct was enacted. The SEZ Act, 2005,

supported by SEZ Rules, came into effect on 10th February, 2006.

Baba Kalyani Committee

The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in

the present economic scenario and make the SEZ policy WTO compatible, suggest course

correction in SEZ policy, make comparative analysis of the SEZ scheme and dovetail the SEZ

policy with other similar schemes.

14. Ans: C

Why in news?

Minister of Petroleum and Natural Gas & Skill Development and Entrepreneurship launched a

Task Force for Closing the Skills Gap in India, in collaboration with the World Economic

Forum.


Task Force for Closing the Skills Gap in India:

Ministry of Skill Development and Entrepreneurship in collaboration with the World Economic

Forum.

The task force will bring together leaders from business, Government, civil society, and the

education and training sectors to accelerate the future-proofing of education and training

systems in the country.

The goal of the Task Force is to develop an action plan to address skills gaps in India and make

the Indian workforce ready for jobs of future.




The “Closing the Skills Gap” Task Force will be a significant step to accelerate the impact on

skills development already achieved by bringing together relevant stakeholders to act

collectively.

The Task Force is the second country-led public-private collaboration of the World Economic

Forum’s closing the Skills Gap Project after South Africa.

15. Ans: D

Why in news?

Launch of Methanol Cooking Fuel Program of India.


Methanol Cooking Fuel Program of India:

Assam Petro-chemicals, a state-owned company for launching Asia's first cannister based and

India's first "Methanol Cooking Fuel Program".

The safe handling cannister based cooking stoves are from Swedish Technology.

This technology is very unique, it handles methanol extremely safely, does not need regulator

or any piping system.

The cooking medium can directly substitute LPG, Kerosene, Wood, Charcoal and any other fuel

for cooking.

1.2 litres cannisters can last for full five hours on twin burners and 8 such Cannisters as rack

can last for one month for a family of three. The cost of energy equivalent of one cylinder of

LPG for Methanol is Rs. 650, compared to Rs. 850 per cylinder resulting in a minimum of 20%

Savings.

16. Ans: A

JIMEX – Japan

Simbex - Singapore

Exercise Aviaindra-18:

The second edition of Exercise Aviaindra, a Biennial Air Force level exercise between Indian

and the Russian Federation, was conducted from 17 Sep 18 to 28 Sep 18. The aim of the

exercise was to formulate and validate use of airpower in anti-terrorist operation in a bilateral

scenario.


JIMEX 18:

Bilateral Maritime Exercise between Japan and India (JIMEX 18) commence at

Visakhapatnam.




JIMEX-18 is aimed to enhance interoperability, improve understanding and imbibe the best

practices of each other.


Simbex 2018:

Bilateral Exercise Between Indian & Republic of Singapore Navies – SIMBEX 18 - marks Silver

Jubilee in the Year 2018.

The 25th edition of SIMBEX, an acronym for “Singapore-India Maritime Bilateral Exercise” is

scheduled from 10thto 21st November 2018 off Andaman Sea and Bay of Bengal.

Bilateral cooperation between Singapore and India was first formalised when RSN ships began

training with the Indian Navy in 1994.


India and France bilateral tri-service military exercise:

Why in news?

India, France in talks to conduct tri-service exercise.

https://www.thehindu.com/news/national/india-france-in-talks-to-conduct-tri-service-

exercise/article25230313.ece

India and France bilateral tri-service military exercise:

Shakti for the Army

Varuna for the Navy

Garuda for the Air Force

17. Ans: A

The Yamuna River is the longest tributary of Ganga in terms of length.

Ghagra is the largest tributary of the Ganga by volume.

Why in news?

Union Minister for Shipping, Road Transport & Highways and Water Resources, River

Development & Ganga Rejuvenation lay the foundation stone for the development work of

Ghagra river as National Waterway (NW)-40 at Basti in Uttar Pradesh, under the Sagarmala

Programme of Ministry of Shipping.




https://www.thehindu.com/news/national/india-france-in-talks-to-conduct-tri-service-exercise/article25230313.ece

https://www.thehindu.com/news/national/india-france-in-talks-to-conduct-tri-service-exercise/article25230313.ece



Development of Ghagra River as National Waterway in Uttar Pradesh:

Ghagra river as National Waterway (NW)-40, under the Sagarmala Programme of Ministry of

Shipping.

The waterway from Manjhighat at Ganga-Gaghra river confluence to Faizabad/Ayodhya along

Gaghra River for a length of 354 km was declared as NW-40 during the year 2016, as part of

Government’s renewed push to develop inland waterways sector in the country.

Together with NW-1 (on river Ganga), NW-40 will be provide to be a major transport modal

choice for cargo and passenger movement.

The Detailed Project Report on the development of NW-40 envisages terminal at five locations –

Ayodhya, Mahirpur (Tanda/Kalwari), Dohrighat, Tortipar and Manjhighat.

Gaghra River:

Its source is near Gurla Mandhata peak, south of Manasarovar in Tibet (river of the trans-

Himalayan origin).

It is known as the Karnaili in Western Nepal.

Its important tributaries are the Sarda, the Sarju (Ayodhya is located on its bank) and the Rapti.

It flows southeast through Uttar Pradesh and Bihar states to enter the Ganges below Chapra in

Bihar.

18. Ans: C

Why in news?

A 64-foot-tall statue of peasant leader Sir Chhotu Ram has been unveiled at his native

village Sampla in Haryana’s Rohtak district.


Sir Chhotu Ram:

Sir Chhotu Ram, who was born on November 24, 1881, was regarded as a messiah of peasants

and was instrumental in empowering farmers in pre-Independence era and getting pro-farmers

law enacted. He had fought for farmers’ rights during the British rule.

On political front, he was a co-founder of the National Unionist Party which ruled all the time

Punjab Province in per-Independent India and kept Congress and Muslim League at bay.

Chhotu Ram was awarded the title of ‘Rao Bahadur’. He was knighted in 1937 and was

popularly known as Deen Bandhu.

His legacy has been evoked by the formation of a new party, the National Unionist Zamindara

Party by guar farmers in Rajasthan in 2013.



19. Ans: D

Arya Samaj was founded in the year 1875 in Bombay.

The primary mission of the Arya Samaj is to eradicate Ignorance (Agyan), Indigence or Poverty

(Abhav) and Injustice (Anayay) from this earth.

Why in news?

The President of India, Shri Ram Nath Kovind, inaugurated the International Arya

Mahasammelan.


https://www.aryasamajhouston.org/about-us/arya-samaj

Arya Samaj:

Arya Samaj, founded by Swami Dayanand Saraswati on April 10, 1875 in Bombay (now

Mumbai), is a social reform movement.

Contrary to some misconceptions, it is not a religion or a new sect in Hindu religion.

Swami Dayanand brought together a number of concerned members of the society to eliminate

the ills prevalent within the Hindu Society in the 19th century.

The primary mission of the Arya Samaj is to eradicate Ignorance (Agyan), Indigence or Poverty

(Abhav) and Injustice (Anayay) from this earth. This mission is enshrined in the ten Niyams

or Principles.

The four Vedas, Rig-Veda, Yajur Veda, Sam Veda and Atharva Veda, are the Source of

Guidance.

Arya Samaj believes in one God, known by name Om, who is Omnipresent, Omnipotent,

Omniscient, Source of all Intelligence and Bliss, Merciful and Just.

Arya Samaj does not believe in Idol Worship.

One of the main missions of the Arya Samaj has been education. Arya Samaj is one of the

largest providers of education in India, from pre-school to graduate level. Arya Samaj especially

emphasizes the education of women. As Indians moved away from the borders of India to

settle in other lands, several carried with them the principles of Arya Samaj.

They established branches of Arya Samaj in their adopted countries in order to continue the

good work, to educate their offspring about the rich history, cultural heritage and traditions of

India, and to inspire them to carry on the beliefs and practices of Arya Samaj.

20. Ans: B

The Central Government had established Financial Stability and Development Council (FSDC)

in December 2010 with the Finance Minister as it Chairman.

Why in news?

19thMeeting of the Financial Stability and Development Council (FSDC) held under the

Chairmanship of the Union Finance Minister.


https://www.aryasamajhouston.org/about-us/arya-samaj



Financial Stability and Development Council (FSDC):

The Central Government had established Financial Stability and Development Council (FSDC)

in December 2010 with the Finance Minister as it Chairman.

The idea to create it was first mooted by the Raghuram Rajan Committee on Financial Sector

Reforms in 2008.

It is a super regulatory body for regulating financial sector which is a vital for bringing healthy

and efficient financial system in the economy.

The FSDC envisages to strengthen and institutionalise mechanism of

Maintaining financial stability,

Financial sector development,

Inter-regulatory coordination along with monitoring macro-prudential regulation of

economy.

Composition of FSDC:

Chairman: Union Finance Minister.

Members:

Heads of the financial sector regulatory authorities (i.e, RBI, SEBI, IRDA, PFRDA),

Finance Secretary and/or Secretary, Department of Economic Affairs (Union Finance Ministry),

Secretary, Department of Financial Services, and Chief Economic Adviser.

FSDC can invite experts to its meeting if required.

Changes:

The Union Government has reconstituted Financial Stability and Development Council (FSDC)

to include secretaries from revenue department as well as Ministry of Information Technology

(MeitY).

Two Core functions

Act as an apex level forum to strengthen and institutionalize the mechanism for maintaining

financial stability.

Enhance inter-regulatory coordination and promoting financial sector development in the

country.

Other functions

Focus on financial literacy and financial inclusion.

Monitor macro-prudential supervision of the economy.

Assess the functioning of the large financial conglomerates.



NEO IAS CURRENT AFFAIRS EXCLUSIVE ONLINE PRELIMS TEST SERIES

17 full length current affairs tests (1700 questions).

Dedicated tests for each month of 2018 and 2019 (till March) - 100 questions

each.

Most relevant topics from 2017 - 2 tests included.

Detailed coverage of PIB and The Hindu

Coverage of 8 national newspapers and various current affairs magazines like

Yojana and Down to Earth.

The tests can be taken online, anytime and anywhere.

Detailed and exhaustive answer key with the original news link is provided in

downloadable format for revision purpose.

Download more sample question and answer sets from neoiascap.com. The trick with

prelims is to practice maximum no. of questions. Enroll with the Neo IAS current

affairs test series and attend prelims with surety.

Fee: Rs.1,180 /- (inclusive of GST)

Contact: +91-9188152205,

+91-9446331522

https://neoiascap.com/2019/02/05/current-affairs-exclusive-prelims-test-

series/uncategorized/


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