22 August 2018 | Prelims Daily with Previous Year Questions

Q.1) Trade Receivables Discounting System (TReDS) is an electronic platform which has mechanized the financing of trade receivables of MSMEs from corporate buyers through two or more financiers.

Which of the following statements about TReDS is/are correct?

  1. It is an initiative undertaken by Ministry of Commerce and Industry to safeguard the interest of micro, small and medium enterprises (MSMEs).
  2. It deals with discounting of both invoices and bills of exchange.

Select the correct codes from the following options:

a) All are correct

b) Only 1

c) Only 2

d) All are incorrect

Inspired by: HAL becomes first PSU to transact on TReDS: RXIL

Business Standard

 

Q.2) Recently the Union government has declared the Kerala floods a “calamity of severe nature”. Consider the following statements about classification of disasters in India:

  1. The state government is entitled to acclaim a calamity as national calamity.
  2. A “calamity of severe nature” receives additional assistance provided from the National Disaster Response Fund (NDRF).
  3. The NDRF is funded through the Contingency Funds of India.

Which of the given statements is are correct?

a) All are correct

b) 1 and 2

c) 2 and 3

d) 2 only

Inspired by: Explained: “Calamity of a severe nature”

https://www.civilsdaily.com/news/explained-calamity-of-a-severe-nature/

Q.3) The National Disaster Response Force (NDRF) constituted under National Disaster Management Authority (NDMA). Consider the following subjects about NDRF:

  1. It is a specialised force constituted “for the purpose of specialist response to a threatening disaster situation or disaster” under the Disaster Management Act, 2005.
  2. The ‘nodal Ministry’ in the central government for management of natural disasters is the Ministry of Home Affairs (MHA).
  3. The chairman of NDMA is Home Minister.
  4. The responsibility for disaster management is that of the Union Government.

Which of the given statements is/are correct?

a) All are correct

b) 1 and 2

c) 2 and 3

d) 3 and 4

Inspired by: Explained: “Calamity of a severe nature”

https://www.civilsdaily.com/news/explained-calamity-of-a-severe-nature/

Q.4) Consider the impacts of weakening of Indian Rupee.

  1. Imports and Exports become expensive.
  2. GDP increases.
  3. Household consumptions drastically reduce.

Which of the given statements is/are correct?

a) 2 only

b) 3 only

c) 1 and 3

d) None of the above

Inspired by: What does the falling rupee mean for you and economy?

https://www.civilsdaily.com/news/what-does-the-falling-rupee-mean-for-you-and-economy/

Q.5) The State Finance Commission (SFC) is a unique institution created by the 73rd and 74th Constitutional Amendments (CAs) to rationalise and systematise State/sub-State-level fiscal relations in India.

Which of the following statements about SFCs is/are correct?

  1. Article 243I of the Constitution mandates the State Governor to constitute a Finance Commission.
  2. The resources of panchayats and municipalities are augmented on the basis of the recommendations made by the finance commission of the state.

Select the correct codes from the following:

  1. Only 1
  2. Only 2
  3. Both 1 and 2
  4. None of the above.

Inspired by: [op-ed snap] Strengthening the federal link

https://www.civilsdaily.com/news/op-ed-snap-strengthening-the-federal-link/

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