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1. Consider the following statements regarding the Circuit Breaker Mechanism.
1. This is triggered only when the prices increase beyond a threshold value stipulated by the stock exchange and is not applicable to price decline.
2. The circuit breakers when triggered bring about trading halt only in the Stock exchange which has breached the threshold.
3. This index-based market-wide circuit breaker system applies at three stages of the index movement, at 10, 15 and 20 per cent.
4. It is used to check the volatile swings in the market.
Which of the statement(s) given above is/are correct?
(a) 1, 2 and 3 only
(b) 2, 3 and 4 only
(c) 2 and 4 only
(d) All of the above
Answer-c
Explanation
Circuit Breaker Mechanism
Recently, the president of the New York Stock Exchange (NYSE) said that safeguards in the US stock market are working as planned, after a seven per cent drop in the S&P 500 led to a 15-minute halt in trading as circuit breakers were triggered.
In June 2001, the Securities and Exchange Board of India (SEBI) implemented index-based market-wide circuit breakers.
Circuit breakers are triggered to prevent markets from crashing, which happens when market participants start to panic induced by fears that their stocks are overvalued and decide to sell their stocks.
When triggered, these circuit breakers bring about a coordinated trading halt in all equity and equity derivative markets nationwide.
Circuit Breaker is the mechanism which is triggered when the price fluctuation moves beyond a threshold value stipulated by the stock exchange. There are both lower and upper circuit thresholds.
It is an automatic mechanism to stop a free-fall or massive surge in a security or an index during trading hours. It is used to check the volatile swings in the market.
The index-based market-wide circuit breaker system applies at three stages of the index movement, either way at 10 per cent, 15 per cent and 20 per cent.
These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the Nifty 50, whichever is breached earlier.
The market shall re-open, after an index-based market-wide circuit filters breach, with a pre-open call auction session.
2. Consider the following statements regarding the Juvenile Justice Board (JJB).
1. The JJB consists of a Metropolitan Magistrate or a Judicial Magistrate of First Class as the Principal Magistrate of the Board and two social workers as members.
2. Juveniles accused of a crime or detained for a crime are brought before the JJB under the Juvenile Justice (Care and Protection of Children) Act 2000 (amended in 2006).
3. The term of social worker members of the Board is for a period of ten years from the date of appointment.
4. If heinous offence is committed by a child below the age of 16 years, then the child is to be tried by the Juvenile Justice Board (JJB) and a child will not be given detention of more than three years.
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) 1,2 and 4 only
Answer-d
Explanation-
Juvenile Justice Board
Juveniles accused of a crime or detained for a crime are brought before the JJB under the Juvenile Justice (Care and Protection of Children) Act 2000 (amended in 2006).
Under this act and provisions of the Criminal Code Procedure children are not to be taken to a regular criminal court.
The purpose of a separate court is that its purpose is socio-legal rehabilitation and reformation not punishment.
The aim is to hold a child culpable for their criminal activity, not through punishment, but counselling the child to understand their actions and persuade them away from criminal activities in the future.
The JJB consists of judicial magistrate of the first class and two social workers, at least one of whom should be a woman.
JJB are meant to resolve cases within a four month period.
Most circumstances the juvenile can be released on bail by the JJB.
The JJB is a child-friendly space that should not be intimidating or overwhelming for the child.
Once the crime is committed and the child is apprehended, the case comes before the JJB. Till the inquiry is pending the child is kept in an observation home, unless otherwise released as per the law. On conviction, the child is sent to the special home or place of safety.
Children who are alleged or found to be in conflict with law are produced before a Juvenile Justice Board. On the basis of nature of offence, specific need for supervision or intervention, circumstances as brought out in the social investigation report and past conduct of the child, the Juvenile Justice Board may:
(a) Allow the child to go home after advice or admonition by following appropriate inquiry and counselling to such child and to his parents or the guardian;
(b) Direct the child to participate in group counselling and similar activities;
(c) Order the child to perform community service under the supervision of an organisation or institution, or a specified person, persons or group of persons identified by the Board;
(d) Order the child or parents or the guardian of the child to pay fine: Provided that, in case the child is working, it may be ensured that the provisions of any labour law for the time being in force are not violated;
(e) Direct the child to be released on probation of good conduct and placed under the care of any parent, guardian or fit person, on such parent, guardian or fit person executing a bond, with or without surety, as the Board may require, for the good behaviour and child’s well-being for any period not exceeding three years;
(f) Direct the child to be released on probation of good conduct and placed under the care and supervision of any fit facility for ensuring the good behaviour and child’s well-being for any period not exceeding three years;
(g) Direct the child to be sent to a special home, for such period, not exceeding three years, as it thinks fit, for providing reformative services including education, skill development, counselling, behaviour modification therapy, and psychiatric support during the period of stay in the special home:
Provided that if the conduct and behaviour of the child has been such that, it would not be in the child’s interest, or in the interest of other children housed in a special home, the Board may send such child to the place of safety.
The institutional measures for children alleged or found to be in conflict with law include:
1. Observation homes: These are meant for temporary reception of children alleged to be in conflict with law during the pendency of any inquiry.
2. Special homes: These homes are meant for rehabilitation of those children in conflict with law who are found to have committed an offence and who are placed there by an order of the Juvenile Justice Board
3. Place of safety: These are meant to place a person above the age of eighteen years or child in conflict with law, who is between the ages of sixteen to eighteen years and is accused of or convicted for committing a heinous offence.
4. After care: This is meant for any child who leaves a child care institution on completion of eighteen years of age with financial support in order to facilitate child’s re-integration into the mainstream of the society.
What is the composition of JJB?
The JJB consists of a Metropolitan Magistrate or a Judicial Magistrate of First Class as the Principal Magistrate of the Board and two social workers as members. In the earlier law, in many States, it was found that the Chief Metropolitan Magistrate (CMM) or Chief Judicial Magistrate (CJM) was holding the charge of Principal Magistrate.
As they are already burdened with cases, the cases before the JJB remained unattended leading to huge pendency of cases. In order to address this issue, in the new Act under Section 4(1), it is clearly stated that the CMM or CJM cannot be the Principal Magistrate of the Board.
The Social worker members should be persons who have been actively involved in health, education, or welfare activities pertaining to children for at least seven years or a practicing professional with a degree in child psychology, psychiatry, sociology or law.
What is the term of members of the Board?
The term of social worker members of the Board is for a period of three years from the date of appointment. They are eligible for maximum of two terms which cannot be continuous.
What are the provisions for sitting of the Board?
The Board is required to hold its sittings in either an Observation Home or a Special Home or any place which is close to these child care institutions. The Board cannot hold its sittings in any court or jail premises. The Board is required to sit on all working days for a minimum of six hours unless the case pendency is less.
What are the allowances given to the Board?
The Principal Magistrate of the Board is a judicial officer therefore his/her pay and allowances are governed by relevant State Judicial Service. The social worker members of the Board are paid not less than Rs 1500/- per sitting, which includes sitting allowance, travel allowance and any other allowance.
What are the provisions in law to ensure JJB members are sensitized on the law?
Under Section 4(5), the State Government is made responsible to provide induction training and sensitisation to all members including Principal Magistrate of the Board on care, protection, rehabilitation, legal provisions and justice for children, within a period of sixty days from the date of their appointment. Further, under Model Rule 89, the State Government is also required to organize regular training programmes for all stakeholders including JJB members on the implementation of the JJ Act, 2015.
Who monitors the pendency of cases in a JJB?
The Chief Judicial Magistrate or the Chief Metropolitan Magistrate reviews the pendency of cases of the Board once in every three months. Based on the review, they may direct the Board to increase the frequency of its sittings or may recommend the constitution of additional Boards.
https://www.satyarthi.org.in/assets/pdf/FAQ%27s%20on%20JJB.pdf
3. Consider the following statements regarding the National Assessment and Accreditation Council (NAAC).
1. NAAC is an autonomous body that assesses and accredits Higher Education Institutions (HEIs) in India and is funded by the University Grants Commission (UGC).
2. It is an outcome of the recommendations of the National Policy in Education (1986) which laid special emphasis on upholding the quality of higher education in India.
3. Paramarsh Scheme is launched for mentoring the NAAC accreditation aspirant institutions to promote quality assurance in Higher Education.
4. The NAAC accreditation does not cover distance education units of HEIs and offshore campuses.
Which of the statements given above are correct?
(a) 1, 2 and 3 only
(b) 2, 3 and 4 only
(c) 2 and 3 only
(d) All of the above
Answer-d
Explanation-
National Assessment and Accreditation Council (NAAC)
The National Assessment and Accreditation Council (NAAC) is an organisation that evaluates and certifies Higher Educational Institutes (HEIs) in India.
It is an autonomous body funded by the University Grants Commission (UGC).
It is an outcome of the recommendations of the National Policy in Education (1986) which laid special emphasis on upholding the quality of higher education in India.
Headquartered in Bangalore.
The mandate of the NAAC as reflected in its vision statement is in making quality assurance an integral part of the functioning of Higher Education Institutions (HEIs).
The NAAC functions through its General Council (GC) and Executive Committee (EC) comprising of educational administrators, policymakers and senior academicians from the cross-section of Indian higher education system.
NAAC Procedure
The process of accreditation by NAAC was completely done on-site by a group of assessors. After the Revised Accreditation Framework in 2017, the following two-stage process is followed:
Stage 1
Institutions keen to be assessed should submit an Institutional Information for Quality Assessment (IIQA) and Self Study Report (SSR) to NAAC. The data submitted will then be validated.
Stage 2
This assessment will be based on various components, such as the number of faculties, the number of research journals in the library, and the number of international publications produced by the institute.
Various disciplinary measures are put in place for institutes and colleges for submitting incorrect data.
The on-site grading is still a part of the assessment process. It is just 30% of the process and is the last part of the NAAC assessment procedure.
Functions of NAAC
1. Periodic assessment and accreditation of institutions of higher education.
2. Stimulate the academic environment for the promotion of the quality of teaching-learning and research in higher education institutions.
3. Encourage self-evaluation, accountability, autonomy and innovations in higher education.
4. Undertake quality-related research studies, consultancy and training programmes.
5. Collaborate with other stakeholders of higher education for quality evaluation, promotion and sustenance.
6. HEIs with a record of at least two batches of students graduated, or that have been in existence for six years, whichever is earlier, are eligible to apply for the process of Assessment and Accreditation (A&A) of NAAC.
7. The NAAC accreditation does not cover distance education units of HEIs and offshore campuses.
8. It also does not accredit institutions providing technical education (that is covered by the National Board of Accreditation (NBA), an organization established by the All India Council for Technical Education (AICTE)).
Paramarsh Scheme
Paramarsh – is a scheme for mentoring the National Accreditation and Assessment Council (NAAC) accreditation aspirant institutions to promote quality assurance in Higher Education.
The scheme will be operationalized through a “Hub & Spoke” model wherein the mentor institution, called the “Hub” is centralized and will have the responsibility of guiding the mentee institution through the “Spoke” i.e. through the services provided to the mentee for self-improvement.
It would also facilitate the sharing of information, knowledge and opportunities for research collaboration and faculty development in the mentee institutions.
It would aid in improving the accreditation culture, as the scheme aims at accrediting all the Higher Education Institutions by 2022.
http://www.naac.gov.in/
4. Consider the following statements regarding the Indian Council of Medical Research (ICMR).
1. The ICMR is the apex body in India for the formulation, coordination and promotion of biomedical research.
2. The Governing Body of the Council is presided over by the Union Health Minister and it is assisted in scientific and technical matters by a Scientific Advisory Board.
3. It was established in 1911 as Indian Research Fund Association (IRFA) making it one of oldest and largest medical research bodies in the world.
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-
Indian Council of Medical Research (ICMR)
The Indian Council of Medical Research (ICMR), New Delhi, the apex body in India for the formulation, coordination and promotion of biomedical research, is one of the oldest medical research bodies in the world.
The ICMR has always attempted to address itself to the growing demands of scientific advances in biomedical research on the one hand, and to the need of finding practical solutions to the health problems of the country, on the other.
The ICMR has come a long way from the days when it was known as the IRFA, but the Council is conscious of the fact that it still has miles to go in pursuit of scientific achievements as well as health targets.
The Council’s research priorities coincide with the National health priorities such as control and management of communicable diseases, fertility control, maternal and child health, control of nutritional disorders, developing alternative strategies for health care delivery, containment within safety limits of environmental and occupational health problems; research on major non-communicable diseases like cancer, cardiovascular diseases, blindness, diabetes and other metabolic and hematological disorders; mental health research and drug research (including traditional remedies).
All these efforts are undertaken with a view to reduce the total burden of disease and to promote health and well-being of the population.
The Governing Body of the Council is presided over by the Union Health Minister. It is assisted in scientific and technical matters by a Scientific Advisory Board comprising eminent experts in different biomedical disciplines.
The Board, in its turn, is assisted by a series of Scientific Advisory Groups, Scientific Advisory Committees, Expert Groups, Task Forces, and Steering Committees etc. which evaluate and monitor different research activities of the Council.
The Council promotes biomedical research in the country through intramural as well as extramural research.
Over the decades, the base of extramural research and also its strategies have been expanded by the Council.
https://www.icmr.nic.in/content/about-us
https://www.icmr.nic.in/content/achievements
5. Consider the following statements regarding the Overseas Citizenship of India.
1. According to Section 7A of the OCI card rules, an applicant is not eligible for the OCI card if he, his parents or grandparents have ever been a citizen of Pakistan, Bangladesh or Afghanistan.
2. The Government of India via Citizenship (Amendment) Act, 2015 merged the Person of Indian Origin (PIO) category with OCI category in 2015.
3. OCI cardholders can enter India multiple times, get a multipurpose lifelong visa to visit India, and are exempt from registering with Foreigners Regional Registration Office (FRRO).
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-a
Explanation-
Overseas Citizenship of India
Definition
The Ministry of Home Affairs defines an OCI as a person who:
Was a citizen of India on or after 26th January 1950; or
Was eligible to become a citizen of India on 26th January 1950; or
Is a child or grandchild of such a person, among other eligibility criteria.
According to Section 7A of the OCI card rules, an applicant is not eligible for the OCI card if he, his parents or grandparents have ever been a citizen of Pakistan or Bangladesh.
The category was introduced by the government in 2005. The Government of India via Citizenship (Amendment) Act, 2015 merged the Person of Indian Origin (PIO) category with OCI category in 2015.
Benefits to OCI Cardholders
OCI cardholders can enter India multiple times, get a multipurpose lifelong visa to visit India, and are exempt from registering with Foreigners Regional Registration Office (FRRO).
If an individual is registered as an OCI for a period of five years, he/she is eligible to apply for Indian citizenship.
At all Indian international airports, OCI cardholders are provided with special immigration counters.
OCI cardholders can open special bank accounts in India, buy the non-farm property and exercise ownership rights and can also apply for a Permanent Account Number (PAN) card.
Limitations
OCI cardholders do not get voting rights, cannot hold a government job and purchase agricultural or farmland.
They cannot travel to restricted areas without government permission.
Constitutional Provisions
The Constitution deals with citizenship from Articles 5 to 11 under Part II. However, it contains neither any permanent nor any elaborate provisions in this regard.
It only identifies the persons who became citizens of India on 26th January 1950 (i.e. when the Constitution commenced).
It empowers the Parliament to enact a law to provide for matters relating to citizenship. Accordingly, the Parliament has enacted the Citizenship Act, 1955, which has been recently amended in 2015.
Person of Indian Origin
A Person of Indian Origin (PIO) means a foreign citizen (except a national of Pakistan, Afghanistan, Bangladesh, China, Iran, Bhutan, Sri Lanka and Nepal)
Who at any time held an Indian passport or
Who or either of their parents/ grandparents/ great grandparents were born and permanently resident in India as defined in Government of India Act, 1935 and other territories that became part of India thereafter or
Who is a spouse of a citizen of India or a PIO.
PIO category was merged with OCI category in 2015.