IAS Exam- 2019, Practice Set- 1, June 3 – June 9 (2018)


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.

                         
(1) Consider the following statements –
 
(1) The Reserve Bank of India allowed urban co-operative banks (UCB) to convert into small finance banks (SFB)
(2) UCBs currently come under the regulation the RBI only
 
Which of the above statements is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) None of the above
Ans (a)
Expl: The move aimed at bringing these entities into mainstream banking. UCBs had been facing financial trouble till a few years ago, prompting the RBI to stop issuing fresh licences. But their performance has improved recently while their numbers have come down due to mergers and closures. UCBs currently face regulation by both the RBI and the respective State governments. By turning into SFBs, they will be regulated only by the RBI.
 
(2) Consider the following statements –
 (1) A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims.
(2) Conflict of interest is a possibility of a clash between the person's self-interest and professional interest or public interest.
(3) Quid pro quo indicates that a no good or service has been traded for any gain.
Which of the above statements are correct?
(a) 1 and 2
(b) 2 and 3
(c) 1 and 3
(d) All of the above
Ans (a)
 
Expl: Forensic Audit: A forensic audit is an examination and evaluation of a firm's or individual's financial information for use as evidence in court. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims.
Quid pro quo : Quid pro quo is a phrase that literally means something for something. From a legal perspective, quid pro quo indicates that a good or service has been traded for something of equal value.
Conflict of interest : It is a situation that has the potential to undermine the impartiality of a person because of the possibility of a clash between the person's self-interest and professional interest or public interest.

ICICI Bank Controversy : In 2016, Arvind Gupta, an investor, wrote to the Prime Minister’s Office, the then Reserve Bank of India Governor Raghuram Rajan, and others, seeking an inquiry into transactions between ICICI Bank, the Videocon group and NuPower Renewables, a company promoted by Ms. Kochhar’s husband, Deepak Kochhar, in 2010. Ms. Kochhar is MD and CEO of ICICI. It was alleged that a company related to the Videocon group chairman, Venugopal Dhoot, invested Rs. 64 crore in NuPower in 2010 and that proprietorship of the company was transferred to a trust owned by Mr. Kochhar for Rs. 9 lakh after the Videocon group received a loan of Rs. 3,250 crore from ICICI Bank in 2012. Mr. Gupta, who alleged conflict of interest, demanded a forensic audit of the relevant transactions.
The allegations include a potential violation of the bank’s code of conduct and of quid pro quo in dealing with certain borrowers.
 
(3) Consider the following statements –
(1) Monetary policy committee (MPC) has six members including Governor of the RBI
(2) The MPC has five members from the RBI and one independent member to be selected by the Government
(3) The MPC is expected to bring “value and transparency” to rate-setting decisions.
Which of the above statements is/are correct?
(a) Only 1 and 2
(b) Only 2 and 3
(c) Only 1 and 3
(d) All of the above
Ans (c)
 
Expla: MPC, an inflation-targeting framework,  has three members from the RBI — the Governor, a Deputy Governor and another official — and three independent members to be selected by the Government.
A search committee recommends three external members, experts in the field of economics, banking or finance, for the Government appointees.
 
(4) Consider the following statements –
(1) U.S. withdrew from the international agreement regarding Iran nuclear programme in May 2018
(2) The EU also withdrew from the deal within a week after US withdrawal
(3) According to the deal, Iran can enrich uranium, but under tight restrictions.
Which of the above statements is/are correct?
(a) Only 1 and 2
(b) Only 2 and 3
(c) Only 1 and 3
(d) All of the above
Ans (c)
Expla: Europe will stand by the international nuclear accord with Iran, EU foreign policy chief said .
The international agreement, which limited the Iran's nuclear program in return for sanctions relief, was negotiated under former U.S. President Barack Obama in 2015. Trump, who promised to dismantle the deal during his 2016 electoral campaign, claims that Iran has continued to enrich uranium for military purposes. The landmark deal, known as the Joint Comprehensive Plan of Action (JCPOA), was struck between Iran and the five permanent members of the United Nations Security Council -- China, France, Russia, Britain and the U.S. -- plus Germany and the EU, in Vienna in 2015.
 
(5) Which of the following statements is/are correct regarding Global Peace Index (GPI) 2018?
(1) GPI is released by UNESCO
(2) India’s GPI 2018 rank was 137
(3)  Syria is the least peaceful country in the world
Codes-
(a) Only 1 and 2
(b) Only 2 and 3
(c) Only 1 and 3
(d) All of the above
Ans (b)
Expl:  Global Peace Index (GPI), released by Australia-based Institute for Economics and Peace (IEP). The IEP is world’s leading think tank that develops metrics to analyse peace and quantify its economic value.
India’s GPI 2018 rank was 137 out of 163 countries in 2017, when the year 2016 was assessed.
Syria remained the least peaceful country in the world, a position that it had held for the past five years.
Iceland remains the most peaceful country in the world, a position it has held since 2008. New Zealand, Austria, Portugal and Denmark also sit in the top five most peaceful rankings.
 
(6) Consider the following statements –
(1) World Bank will fund the Atal Bhujal Yojana (ABHY)
(2) 2+2 dialogue as it involves dialogues between the President and Defence ministers of two countries
Which of the above statements is/are correct?
(a) Only 1
(b) Only 2
(c) 1 and 2
(d) None of the above
Ans (a)
 
Expl: World Bank will fund Rs. 6,000-crore scheme called the Atal Bhujal Yojana (ABHY). The scheme is to be implemented over a period of five years from 2018-19 to 2022-23, according to a statement from the Union water Ministry.
 
“2+2” dialogue: called 2+2 dialogue as it involves dialogues between the Foreign and Defence Secretaries of two countries. The 2+2 format draws on a framework Japan used for its strategic interactions with the US, France, Russia and Australia. India & Japan too have a similar mechanism between them since 2010.
 
(7) Consider the following statements –
(1) Hague treaty 1980 is an inter-country abduction of children by parents fleeing a bad marriage
(2) The government of India has recently signed the Hague treaty
Which of the above statements is/are correct?
(a) Only 1
(b) Only 2
(c) 1 and 2
(d) None of the above
Ans (a)
Expl: The government of India is not yet ready to sign the Hague treaty. The government has long held the view that the decision could lead to harassment of women escaping marital discord or domestic violence.
The Hague Convention of 25 October 1980 on the Civil Aspects of International Child Abduction is a multilateral treaty, which seeks to protect children from the harmful effects of abduction and retention across international boundaries by providing a procedure to bring about their prompt return. As of May 2018, 98 states are party to the convention
 
(8) A Mazhabi Sikh community was in the news regarding violent activities recently belongs to -
(a) Shillong
(b) Patiala
(c) Kohima
(d) Dispur
Ans.(a)
There was a week-long incidents of violence in downtown Shillong . A scuffle between members of the Mazhabi Sikh community, long-time settlers in the Punjabi Lane area of Shillong  and a Khasi youth and his associates over a local matter was amicably settled between representatives of the communities. But a fabricated story that the youth had succumbed to injuries sustained in the scuffle led to large numbers of Khasi protesters laying siege to Punjabi Lane, demanding that the Sikh residents move from the area.
That the “settlers” have been in Shillong for more than a century and a half, having been originally brought there by the British colonials to work as manual scavengers, and have since integrated themselves within Shillong, has not insulated them from being described as outsiders.
 
(9) Consider the following statements –
(1) Nipah virus (NiV) infection is a zoonosis that causes severe disease in both animals and humans
(2) NiV is a waterborne transmission infection
Which of the above statements is/are correct?
(a) Only 1
(b) Only 2
(c) 1 and 2
(d) None of the above
Ans (a)
Expl:
Nipah virus (NiV) infection is a newly emerging zoonosis that causes severe disease in both animals and humans. The natural host of the virus are fruit bats of the Pteropodidae Family, Pteropus genus.
NiV was first identified during an outbreak of disease that took place in Kampung Sungai Nipah, Malaysia in 1998.
Experts say that Nipah Virus is an airborne transmission infection and can affect those who come in direct contact with contaminated bodies.
Nipah Virus is usually associated with inflammation of the brain.
 
(10) Consider the following statements –
(1) Indo-Pacific, a new, term has been coined by India
(2) Indonesia wins UNSC non-permanent seat defeating Maldives
Which of the above statements is/are correct?
(a) Only 1
(b) Only 2
(c) 1 and 2
(d) None of the above
Ans (b)
 
Expl: The Indo-Pacific is a term coined by the U.S. for the Indian and Pacific Oceans region, as a natural geographical region, not a strategic one, while United States Secretary of Defense  called the Indo-Pacific a “priority theatre” and a “subset of [America’s] broader security strategy” for his military command, now renamed the Indo-Pacific Command.
‘Indo-Pacific’ has lately entered the geo-strategic discourse as a substitute for the more established term ‘Asia-Pacific’. The Indo-Pacific is an integrated theatre that combines the Indian Ocean and the Pacific Ocean, and the land masses that surround them. Even though it is still an evolving concept, most analysts see it as an idea that captures the shift in power and influence from the West to the East.
 
Maldives and Indonesia had contested for a seat in the UNSC in June 2018, but Indonesia won the seat after securing 144 votes against 46 for the Maldives.
In the election, 190 members participated, and the winning members had to get more than two-thirds majority or 127 votes. Indonesia is likely to take up the seat on January 1, 2019 with other newly elected non-permanent members — Germany, Belgium, Dominican Republic and South Africa.
 




Friday, 15th Jun 2018, 08:12:13 PM

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