Current Affairs Quiz Today – 26th March 2021

ANS: (C) 1, 2 and 3

Explanation:

• Development Finance Institutions are set up for providing long-term finance for such segments of the economy where the risks involved are beyond the acceptable limits of commercial banks and other ordinary financial institutions.
• Unlike banks, DFIs do not accept deposits from people.
• They source funds from the market, government, as well as multi-lateral institutions.

ANS: (D) None of the above

Explanation:

• National Creche Scheme is a Centrally Sponsored Scheme to provide daycare facilities to children of working mothers.
• It is an intervention towards the protection and development of children in the age group of 6 months to 6 years.
• Provides supplementary nutrition, health care inputs like immunization, polio drops, basic health monitoring, sleeping facilities, early stimulation (for children below 3 years), pre-school education for children aged between 3-6 yrs.

ANS: (A) Securities and Exchange Board of India

Explanation

• The Securities and Exchange Board of India (SEBI) has decided to introduce new requirements for business sustainability reporting by listed entities.
  • This new report will be called the Business Responsibility and Sustainability Report (BRSR) and will replace the existing Business Responsibility Report (BRR). Hence, option A is correct.
• BRSR, which is from an Environmental, Social and Governance (“ESG”) perspective, is intended to enable businesses to engage more meaningfully with their stakeholders.
  • It will encourage businesses to go beyond regulatory financial compliance and report on their social and environmental impacts.
  • The BRSR will be applicable to the top 1000 listed entities (by market capitalization), for reporting on a voluntary basis for FY 2021 – 22 and on a mandatory basis from FY 2022 – 23.

ANS: (A) 1 only

Explanation

• The Chief Justice of India and the Judges of the Supreme Court (SC) are appointed by the President under clause (2) of Article 124 of the Constitution. Hence, statement 1 is correct.
• As far as the CJI is concerned, the outgoing CJI recommends his successor.
  • The Union Law Minister forwards the recommendation to the Prime Minister who, in turn, advises the President.
• SC in the Second Judges Case (1993), ruled that the senior most judge of the Supreme Court should alone be appointed to the office of the CJI. Hence, statement 2 is not correct.
• The Supreme Court collegium is headed by the Chief Justice of India and comprises four other senior most judges of the court.
  • The collegium system is the system of appointment and transfer of judges that has evolved through judgments of the Supreme Court (Judges Cases), and not by an Act of Parliament or by a provision of the Constitution.