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#1. Consider the following statements:
#2. Consider the following statements with respect to Prompt Corrective Action (PCA) framework:
#4. Consider the following statements:
Current affairs quiz today – 13th March 2021.
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Results
#1. Consider the following statements:
1. Bureaucrats are eligible to be appointed as the State Election Commissioners.
2. The State Election Commissioner is appointed by the Governor.
3. The courts cannot interfere in the conduct of polls to local bodies and self-government institutions once the electoral process has been set in motion.
Which of the given statement/s is/are correct?
ANS: (B) 2 and 3 only
Explanation:
- The Supreme Court has directed that independent persons and not bureaucrats should be appointed State Election Commissioners.
- Courts cannot interfere in the conduct of polls to local bodies and self-government institutions once the electoral process has been set in motion.
- Constitution bars interference in poll matters set in motion by the SECs and EC.
- Only after the polls are over can the SECs’ decisions or conduct be questioned through an election petition.
- The State Election Commissioner is appointed by the Governor.
- However, the State Election Commissioners can only be removed by impeachment.
#2. Consider the following statements with respect to Prompt Corrective Action (PCA) framework:
1. It is a framework under which banks with weak financial metrics are put under watch by the RBI.
2. The PCA framework deems banks as risky if they slip trigger points based on the three parameters of capital ratios, asset quality and profitability.
3. The PCA framework is applicable to commercial banks, co-operative banks as well as non-banking financial companies (NBFCs).
Which of the given statement/s is/are correct?
ANS: (A) 1 and 2 only
Explanation:
- Prompt Corrective Action (PCA) framework is a framework under which banks with weak financial metrics are put under watch by the RBI.
- The Reserve Bank has specified certain regulatory trigger points, as a part of prompt corrective action (PCA) framework, in terms of three parameters, i.e. capital to risk weighted assets ratio (CRAR), net non-performing assets (NPA) and Return on Assets (RoA), for initiation of certain structured and discretionary actions in respect of banks hitting such trigger points.
- The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs).
#3. Exercise “Desert Flag” is hosted by:
ANS: (B) UAE
Explanation:
- Desert flag is a multinational exercise hosted by the United Arab Emirates (UAE).
- It is an annual multi-national large force employment warfare exercise.
#4. Consider the following statements:
1. The European Parliament has declared the European Union as ‘LGBTIQ Freedom Zone.
2. Ireland became the first country to legalize same-sex marriage through public vote.
Which of the statements given above is/are not correct?
ANS: (C) Both 1 and 2
Explanation
- Recently, in response to the backsliding of LGBTIQ rights in some EU countries, notably Poland and Hungary, the European Parliament has declared the European Union an “LGBTIQ Freedom Zone”. Hence, statement 1 is correct.
- Ireland legalized same-sex marriage. The country, which had decriminalized homosexuality in 1993, became the first country to allow same-sex marriage at a national level by popular vote. Hence, statement 2 is correct.
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