FRAMED FROM WIKIPEDIA
Q.1 Which of the following is/are true with respect to the petroleum Panchayat yojna ?
1. It has replaced Pradhan Mantri Ujwal Yojana to deal with issue of safe use of LPG
2. It was launched in 2015
3. Availability of refill cylinders is one of the key feature of this scheme
Select the correct answer using the codes given below :
A) 1 & 3
B) Only 2
C) 2 & 3
D) Only 3
Ans. D
It was launched in 23rd September 2017
It is backup scheme to existing Pradhan Mantri Ujjwala Yojana .
LPG Panchayat will serve as an interactive platform between those who received LPG cylinders under PMUY. One panchayat will have around 100 LPG customers of nearby areas. The panchayats discuss issues such as safe practices, quality of service provided by distributors and availability of refill cylinders.
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Q.2 Which among the following statements is/are true with respect to the Special Drawing Rights ?
1. These are the foreign-exchange reserve assets defined and maintained by the World Bank
2. Private parties are restricted to hold or use them
3. South African Rand & British pound have been added to the XDR basket effectively from October 1, 2016
Select the correct answer using the codes given below :
A) 1 & 3
B) Only 3
C) 2 & 3
D) Only 2
Ans. D
Special drawing rights (ISO 4217 currency code XDR,[1] also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF).
The XDR is the unit of account for the IMF, and is not a currency per se.[2] XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged.[3] The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.[3]
XDRs are allocated to countries by the IMF.[3] Private parties do not hold or use them.[4]
The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to “provide liquidity to the global economic system and supplement member countries’ official reserves”. By October 2014, the amount of XDRs in existence was XDR 204 billion.[5]
The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years.[3]
The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves.[3] In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016.[6] From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%
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Q.3 Which among the following is/are true with respect to the Deen Dayal SPARSH Yojana ?
1. it is an annual scholarships to children of Standard VI to IX having good academic records only
2. Philately as a hobby is an important component of this scheme
3. Children must be between 10 to 18 years of age to be eligible for this scheme
Select the correct answer using the codes given below :
A) 2 & 3
B) Only 3
C) 1 & 2
D) Only 2
Ans. D
Deen Dayal Sparsh Yojana
Minister of Communications Shri Manoj Sinha launched a Pan India scholarship program for school children called Deen Dayal SPARSH Yojana to increase the reach of Philately.
Under the scheme of SPARSH (Scholarship for Promotion of Aptitude & Research in Stamps as a Hobby), it is proposed to award annual scholarships to children of Standard VI to IX having good academic record and also pursuing Philately as a hobby through a competitive selection process in all postal circles.
Briefing the media after the launch of the scheme, Shri Sinha said that under the scheme, it is proposed to award 920 scholarships to students pursuing Philately as a hobby. Every Postal Circle will select a maximum of 40 scholarships representing 10 students each from Standard VI, VII, VIII & IX. The amount of Scholarship will be Rs. 6000/- per annum @ Rs. 500/- per month.
Philately is the hobby of collection and study of Postage stamps
FRAMED FROM WIKIPEDIA
Q.4 Which among the following is/are the cryptocurrencies ?
1. Litecoin
2. Bitcoin
3. Namecoin
Select the correct answer using the codes given below :
A) 1 & 3
B) Only 2
C) 1 & 2
D) 1,2,3
Ans. D
cryptocurrencies, such as Litecoin, Namecoin and PPCoin.
The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin’s success has spawned a number of competing cryptocurrencies, such as Litecoin, Namecoin and PPCoin.
Cryptocurrencies make it easier to transfer funds between two parties in a transaction;
these transfers are facilitated through the use of public and private keys for security purposes.
These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers
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Q.5 What does Hedge Fund means ?
A) Funds provided for replacement and renovation of industries
B) Open ended funds that pools capital from accredited individuals or institutional investors
C) Start-up capital provided to new entrepreneurs
D) Fund created by the Government of India for enhancing infrastructure financing in the country
Ans. B
Hedge Funds :
A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques.
It is administered by a professional investment management firm, and often structured as a limited partnership, limited liability company, or similar vehicle.
Hedge funds are generally distinct from mutual funds, as their use of leverage is not capped by regulators, and distinct from private equity funds, as the majority of hedge funds invest in relatively liquid assets
Hedge funds are made available only to certain sophisticated or accredited investors and cannot be offered or sold to the general public
Hedge funds are almost always open-ended and allow additions or withdrawals by their investors (generally on a monthly or quarterly basis).[1] The value of an investor’s holding is directly related to the fund net asset value.
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Q.6 Which among the following is/are true with respect to the Pradhan Mantri Vaya Vandana Yojana ?
1. It is a Pension Scheme for the senior citizens aged 70 years and above
2. The scheme is exempted from Service Tax/ GST.
3. On Premature exit 100% of the Purchase Price shall be refunded
Select the correct answer using the codes given below :
A) 1 & 3
B) Only 2
C) 2 & 3
D) Only 3
Ans. B
Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from 4th May, 2017 to 3rd May, 2018.
Following are the major benefits under the Pradhan Mantri Vaya Vandana Yojana (PMVVY):
• Scheme provides an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a. effective) for 10 years.
• Pension is payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen by the pensioner at the time of purchase.
• The scheme is exempted from Service Tax/ GST.
• On survival of the pensioner to the end of the policy term of 10 years, Purchase price along with final pension installment shall be payable.
• Loan upto 75% of Purchase Price shall be allowed after 3 policy years (to meet the liquidity needs). Loan interest shall be recovered from the pension installments and loan to be recovered from claim proceeds.
• The scheme also allows for premature exit for the treatment of any critical/ terminal illness of self or spouse. On such premature exit, 98% of the Purchase Price shall be refunded.
• On death of the pensioner during the policy term of 10 years, the Purchase Price shall be paid to the beneficiary.
• The ceiling of maximum pension is for a family as a whole, the family will comprise of pensioner, his/her spouse and dependants.
• The shortfall owing to the difference between the interest guaranteed and the actual interest earned and the expenses relating to administration shall be subsidized by the Government of India and reimbursed to the Corporation.
Eligibility Conditions and Other Restrictions
1. Minimum Entry Age: 60 years (completed)
2. Maximum Entry Age: No limit
3. Policy Term : 10 years
4. Minimum Pension: Rs. 1,000/- per month
Rs. 3,000/- per quarter
Rs.6,000/- per half-year
Rs.12,000/- per year
5. Maximum Pension: Rs. 5,000/- per month
Rs. 15,000/- per quarter
Rs. 30,000/- per half-year
Rs. 60,000/- per year
The modes of pension payment are monthly, quarterly, half-yearly & yearly. The pension payment shall be through NEFT or Aadhaar Enabled Payment System.
The first instalment of pension shall be paid after 1 year, 6 months, 3 months or 1 month from the date of purchase of the same depending on the mode of pension payment i.e. yearly, half-yearly, quarterly or monthly respectively.
FRAMED FROM WIKIPEDIA : FROM OUR MOCK SERIES 2018 PRELIMS
Q.7 Which among the following is/are true with respect to the GSF certification (Gold standard foundation certificate) ?
1. It is a standard for creating high-quality emission reductions projects in the Clean Development Mechanism (CDM)
2. It was developed in 2003 by World Wide Fund for Nature (WWF) and Helio International only
Select the correct answer using the codes given below :
A) Only 1
B) Only 2
C) Both are correct
D) Both are incorrect
Ans. D
GSF (Gold standard foundation certificate) certification
The Gold Standard is a standard for creating high-quality emission reductions projects in the Clean Development Mechanism (CDM) Joint Implementation (JI) and Voluntary Carbon Market.
It was designed to ensure that carbon credits are not only real and verifiable but that they make measurable contributions to sustainable development worldwide.
Its objective is to add branding, a label to existing and new Carbon Credits generated by projects which can then be bought and traded by countries that have a binding legal commitment according to the Kyoto Protocol.
The Gold Standard for CDM (GS CER) was developed in 2003 by World Wide Fund for Nature (WWF), SouthSouthNorth, and Helio International. The Voluntary Gold Standard(GS VER), a methodology for use within the voluntary carbon market, was launched in May 2006.
To be eligible for Gold Standard Certification, a project must:
1. Be an approved Renewable Energy Supply or End use Energy Efficiency Improvement project type
2. Be reducing one of the three eligible Green House Gases: Carbon Dioxide (CO2), Methane (CH4) and Nitrous Oxide (N2O)
3. Not employ Official Development Assistance (ODA) under the condition that the credits coming out of the project are transferred to the donor country
4. Not be applying for other certifications, to ensure there is no double counting of credits
5. Demonstrate its additionality by using the United Nations Framework Convention on Climate Change’s (UNFCCC) Large Scale Additionality Tool;[6] and show that the project is not a ‘business-as-usual’ scenario
6. Make a net-positive contribution to the economic, environmental and social welfare of the local population that hosts it
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Q.8 For which among the following purpose National Water Resource Council has been constituted ?
A) It is an international thin tank established in 1996 to promote awareness, build political commitment and trigger action on critical water issues at all levels
B) To advise the Prime Minister on expenditure of the Australian Government Water Fund between 2004 and 2010
C) To resolve the water disputes that would arise in the use, control and distribution of an interstate river
D) It is a non-profit organization that drives economic, technology and talent development to support the global water industry
Ans. B
National Water Resource Council
Dissolved 25 November 2014
Jurisdiction Commonwealth of Australia
Headquarters Turner, Australian Capital Territory
Motto Australia’s independent voice on national water issues
Employees 48
The key function that the Commission provided was to advise the Prime Minister on expenditure of the Australian Government Water Fund between 2004 and 2010
