1. Consider the following statements regarding the Non-banking financial companies (NBFCs).
1. NBFCs are entities or institutions that provide certain bank-like and financial services but do not hold a banking license.
2. NBFCs are not subject to the banking regulations and oversight by federal and state authorities adhered to by traditional banks.
3. NBFCs are the company registered under the Companies Act, 1956/2013
4. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
Which of the statement(s) given above is/are correct?
(a) 1, 2 and 3 only
(b) 2, 3 and 4 only
(c) 1, 3 and 4 only
(d) All of the above
Answer-d
Explanation
Non-banking financial companies (NBFCs)
Non-banking financial companies (NBFCs) are entities or institutions that provide certain bank-like and financial services but do not hold a banking license.
NBFCs are not subject to the banking regulations and oversight by federal and state authorities adhered to by traditional banks.
Investment banks, mortgage lenders, money market funds, insurance companies, hedge funds, private equity funds, and P2P lenders are all examples of NBFCs.
Since the Great Recession, NBFCs have proliferated in number and type, playing a key role in meeting the credit demand unmet by traditional banks.
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature.
NBFC does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.
A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).
Difference between banks & NBFCs
NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below:
NBFC cannot accept demand deposits;
NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
2. Consider the following statements regarding the Avian Influenza.
1. H5N1 is a type of Avian influenza virus that causes a highly infectious, severe respiratory disease in birds called avian influenza.
2. The virus does infect humans easily, and spread from person to person appears to be usual.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer-a
Explanation-
Avian Influenza
Avian influenza (AI) is a highly contagious viral disease affecting several species of food-producing birds (chickens, turkeys, quails, guinea fowl, etc.), as well as pet birds and wild birds.
Occasionally mammals, including humans, may contract avian influenza.
Influenza A viruses are classified into subtypes based on two surface proteins, Hemagglutinin (HA) and Neuraminidase (NA). For example, a virus that has an HA 7 protein and NA 9 protein is designated as subtype H7N9.
Avian influenza virus subtypes include A(H5N1), A(H7N9), and A(H9N2).
HPAI A(H5N1) virus occurs mainly in birds and is highly contagious among them.
HPAI Asian H5N1 is especially deadly for poultry.
Avian Influenza outbreaks can lead to devastating consequences for the country, particularly the poultry industry.
Farmers might experience a high level of mortality in their flocks, with rates often around 50%.
Prevention: Strict biosecurity measures and good hygiene are essential in protecting against disease outbreaks.
Eradication: If the infection is detected in animals, a policy of culling infected and contact animals is normally used in an effort to rapidly contain, control and eradicate the disease.
Human cases of H5N1 Avian influenza occurs occasionally.
When people do become infected, the mortality rate is about 60%.
The virus does not infect humans easily, and spread from person to person appears to be unusual.
There is no evidence that the disease can be spread to people through properly prepared and thoroughly cooked food.
At present,with effect from 3rd September 2019, India has been declared free from Avian Influenza (H5N1), which has also been notified to the World Organization for Animal Health (OIE).
3. Consider the following statements regarding the Swadesh Darshan Scheme.
1. It is Central Sector Scheme of the Government of India for integrated development of theme based tourist circuits in the country.
2. It also aims to integrate other schemes such as Swachh Bharat Abhiyan, Skill India, and Make in India and so on.
3. A Mission Directorate headed by the Member Secretary, NSC as a nodal officer will help in identification of projects in consultation with the States/ UTs governments and other stake holders.
Which of the statements given above are correct?
(a) 2 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer-d
Explanation-
Swadesh Darshan Scheme
In due recognition to the Government of India, Ministry of Tourism (MoT) launched the Swadesh Darshan Scheme (Central Sector Scheme)– for integrated development of theme based tourist circuits in the country in 2014-15.
This scheme is envisioned to synergise with other Government of India schemes like Swachh Bharat Abhiyan, Skill India, Make in India etc. with the idea of positioning the tourism sector as a major engine for job creation, driving force for economic growth, building synergy with various sectors to enable tourism to realise its potential.
Features of Swadesh Darshan Scheme:
100% centrally funded for the project components undertaken for public funding.
To leverage the voluntary funding available for Corporate Social Responsibility (CSR) initiatives of Central Public Sector Undertakings and corporate sector.
Funding of individual project will vary from state to state and will be finalised on the basis of detailed project reports prepared by PMC (Programme Management Consultant). PMC will be a national level consultant to be appointed by the Mission Directorate.
A National Steering Committee (NSC) will be constituted with Minister in charge of M/O Tourism as Chairman, to steer the mission objectives and vision of the scheme.
A Mission Directorate headed by the Member Secretary, NSC as a nodal officer will help in identification of projects in consultation with the States/ UTs governments and other stake holders.
Scheme Objectives
To position tourism as a major engine of economic growth and job creation;
Develop circuits having tourist potential in a planned and prioritized manner;
Promote cultural and heritage value of the country to generate livelihoods in the identified regions;
Enhancing the tourist attractiveness in a sustainable manner by developing world class infrastructure in the circuit /destinations;
Follow community based development and pro-poor tourism approach;
Creating awareness among the local communities about the importance of tourism for them in terms of increased sources of income, improved living standards and overall development of the area.
To create employment through active involvement of local communities;
Harness tourism potential for its effects in employment generation and economic• development.
To make full use of the potential and advantages in terms of available infrastructure, national culture and characteristic strong points of each and every region throughout the country by development of theme based circuits. Development of tourist facilitation services to enhance visitor experience/satisfaction.
4. Consider the following statements regarding the Scindias Dynasty of Gwalior.
1. The Scindias are a royal Maratha Kunbi clan in India that belong to the state of Madhya Pradesh.
2. The dynasty was founded by Ranoji Sindhia, who in 1726 was put in charge of the Malwa region by the peshwa.
3. With the help of French, Mahadaji defeated the Rajputs, took the Mughal emperor Shah Alām under his protection, and finally won control of the peshwa by defeating the Maratha Holkar, the peshwa’s chief general, in 1793.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer-d
Explanation-
Scindias Dynasty of Gwalior
Sindhia family, Sindhia also spelled Sindia or Scindia, Maratha ruling family of Gwalior, which for a time in the 18th century dominated the politics of northern India.
The Scindias are a royal Maratha Kunbi clan in India that belong to the state of Madhya Pradesh. This clan comprised of the rulers of the state of Gwalior during the 18th and 19th centuries who later went on to collaborate with the British Rulers between 19-20th century till the time of independence.
The dynasty was founded by Ranoji Sindhia, who in 1726 was put in charge of the Malwa region by the peshwa (chief minister of the Maratha state). By his death in 1750, Ranoji had established his capital at Ujjain. Only later was the Sindhia capital moved to the rock fortress of Gwalior.
Probably the greatest of Ranoji’s successors was Sindhia Mahadaji (reigned 1761–94), who created a north Indian empire virtually independent of the peshwa. He emerged from war with the British East India Company (1775–82) as the recognized ruler of northwestern India.
With the aid of French officers, he defeated the Rajputs, took the Mughal emperor Shah ʿAlām under his protection, and finally won control of the peshwa by defeating the Maratha Holkar, the peshwa’s chief general, in 1793.
His grandnephew, Daulat Rao, however, suffered serious reverses. He came into conflict with the British in 1803.
After being defeated in four battles by General Gerard Lake, he was obliged to disband his French-trained army and sign a treaty; he gave up control of Delhi but retained Rajputana until 1817. The Sindhia became clients of the British in 1818 and survived as a princely house until 1947.
Prominent members of the family in more recent times have included the politicians Vasundhara Raje and her older brother, Madhavrao Scindia.
5. Consider the following statements about Dr. Zakir Husain.
1. He had established along with a few others, the National Muslim University at Aligarh in 1920.
2. In 1962, he was elected the President of the country.
3. Basic Education Committee after Wardha conference was established under him to formulate the scheme of the basic education.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer-d
Explanation-
Dr. Zakir Husain
Dr. Zakir Husain was the second of the seven sons of Fida Husain Khan and his wife. Though he was born in the princely state of Hyderabad, the family moved to Kaimganj in Uttar Pradesh soon after.
His parents died during his childhood. He pursued his primary education at Hyderabad and then finished his schooling at Etawah, UP.
He received his MA degree from the Muhammadan Anglo-Oriental College, which is now called the Aligarh Muslim University at Aligarh. He was a noted student leader during his university days.
He was a good student and academic, and also received his doctoral degree from the University of Berlin in economics.
Before he went to Germany for his PhD, he had established along with a few others, the National Muslim University at Aligarh on 29 October 1920. He was only 23 years old then but already a visionary.
This National Muslim University was shifted to Karol Bagh, New Delhi in 1925 and then again shifted to Jamia Nagar, New Delhi in 1935.
It was then renamed Jamia Millia Islamia.
It is now a central university and an ‘A’ grade institution in the country in higher education.
While in Germany, Husain published an anthology of the works of the great Urdu poet Ghalib.
Through the Jamia Millia Islamia, Husain was involved in the freedom movement in the country. He believed in Mahatma Gandhi’s value-based education and conducted various reforms in the education sector.
His contribution in keeping the Jamia alive was exceptional and even his political rivals like M. A. Jinnah praised his zeal in education.
In 1948, he became the Vice Chancellor of the Aligarh Muslim University. He was also a member of the Indian Universities Commission. He was a nominated member of the Rajya Sabha.
From 1956 to 1958, he was a member of the UNESCO. He was also a member of the University Grants Commission (UGC) and also the chairman of the Central Board of Secondary Education (CBSE).
He was appointed as the Governor of Bihar in 1957. In 1962, he was elected the President of the country.
He was awarded the country’s highest civilian award, the Bharat Ratna in 1963.
Following Wardha conference, a committee under Dr. Zakir Hussain was appointed to formulate the scheme of the basic education. The aim of the basic education was to develop the qualities of the ideal citizenship and more aspect should be give to the Indian culture than the literacy.
Zakir Husain died while in office (becoming the first president to die in office) on 3 May 1969.