Current affairs MAR 16 2020

1.Union Cabinet approved the RoDTEP scheme, which is set to replace MEIS (Merchandise Export Incentive Scheme). What does R stand for, in the new RoDTEP

Ans : Remission (The Union Cabinet approved the Remission of Duties or Taxes on Export Products (RoDTEP). It is a scheme for exporters to reimburse taxes and duties paid, like value added tax, coal cess and electricity duties which are not exempted or refunded under existing mechanism. Last year, the RoDTEP scheme was announced by the Finance Minister Nirmala Sitharaman at an estimated cost of Rs 50,000 crore, to incentivise exporters. It will replace the Merchandise Export from India Scheme (MEIS) which will be phased out.)

2. Jaydev Unadkat is the captain of which regional cricket team that won its maiden Ranji trophy?

Ans : Saurashtra Cricket Team

( At the final clash on the fifth and final day at the Saurashtra Cricket Association Stadium, Rajkot, the team stopped Bengal cricket team from clinching the trophy. There were several outstanding performers in the tournament including Arpita Vasavada, who scored a hundred in both semi-final and final, all-rounder Chirag Jani and Sheldon Jackson, who scored over 800 runs for the second successive season.)

3. India has appealed against the closure of Ambedkar House memorial. It is located in which country?

Ans : United Kingdom

(The British government on Friday accepted India’s appeal against the closure of Ambedkar House in North London, and said the memorial will remain open to visitors, All India Radio reported. United Kingdom Communities Secretary Robert Jenrick said he had granted retrospective planning permission on Thursday for 10, King Henry’s Road in Camden, a house where Dr BR Ambedkar lived in 1921-’22 as a student at the London School of Economics, to function as a museum. The minister had recovered the appeal in the case last September.)

4. As per the recent notification of the Reserve Bank of India, what is the limit for Urban cooperative banks (UCBs), to lend to a single borrower?

Ans : 15% of Tier-one capital

(The Reserve Bank of India (RBI) the single borrower and group exposure limit for Urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively.

This reduction in limit is to mitigate concentration risks arising out of large loans. Existing norms allowed 15% for single borrowers and 40% to group exposures of a bank’s total capital (tier I and tier II capital). The banks will have to bring their existing exposures to the new limits by 31 March 2023.)

5. The Government has declared face masks and hand sanitizers as essential commodities by placing them under which act?

Ans : The Essaential Commodities Acts 1955 ( New Delhi: The government has put masks and hand sanitisers under Essential Commodities Act (ECA) upto June 30, 2020 to ensure proper availability these items in market at correct price in view of the outbreak of Corona Virus. The Centre has also invoked the Disaster Management Act to ensure price regulation and availability of surgical and protective masks, hand sanitizer and gloves. Both masks (2ply & 3 ply surgical masks, N95 masks) and hand sanitisers have been brought under the Essential Commodities Act, 1955, empowering States to regulate production, distribution and prices of these items and also crackdown on hoarding and black-marketing. In a statement, Consumer Affairs Ministry said that the government has notified order under the Essential Commodities Act to declare these items as essential commodities up to June 30, 2020, by amending the schedule of the Essential Commodities Act 1955.)

6. The ‘BhoomiRashi’ Portal, which was sometimes seen in news, comes under which Union Ministry?

Ans : Ministry of the Road Transport and Highways ( It was seen in news as the Ministry announced that the portal has significantly accelerated the process of land acquisition for National Highways, by reducing the processing time to less than two weeks in a majority of cases. The acquisition process is made error-free and more transparent as it has been integrated with the Public Financial Management System (PFMS).)

7. The government has invoked Epidemic Disease Act to make the health advisories enforceable. When was the act enacted?

Ans : 1897 (The decision to invoke the provisions of Section 2 of Epidemic Disease Act, 1897 was taken at a review meeting chaired by the Cabinet Secretary Rajeev Gauba.)

8. The Reserve Bank of India issued guidelines for implementation of Ind AS by Non-banking financial companies (NBFCs) and Asset reconstruction companies (NBFCs) and Asset reconstruction companies (ARCs). What does Ind AS stand for?

Ans : Indian Accounting Standards (The guidelines mandate NBFCs/ARCs to put in place board-approved policies that clearly articulate and document their business models and portfolios. NBFCs/ARCs shall frame their policy for sales out of amortised cost business model portfolios and disclose the same in their notes to financial statements.”The RBI expects the board of directors to approve sound methodologies for computation of expected credit losses (ECL) that address policies, procedures and controls for assessing and measuring credit risk on all lending exposures, commensurate with the size, complexity and risk profile specific to the NBFC/ARC,”

9. In the Green Highways Project, what percentage of the total project cost are spent for highway plantation and its maintenance?

Ans :One Percent (The Cabinet has recently approved building 780-km Green National Highway project at a cost of Rs 7,660 crore. It includes upgradation of various National Highways in four states – Himachal Pradesh, Rajasthan, Uttar Pradesh and Andhra Pradesh.The aim of the ‘Green Highways (Plantation, Transplantation, Beautification & Maintenance) Policy’ is to promote greening of Highway corridors with participation of the community. 1% of the total project cost of all highway projects will be kept aside for highway plantation and its maintenance.

10. As per the reconstruction scheme of Yes Bank, what is the bank’s new authorised capital?

Ans : Rs 6200 crores (The authorised capital of Yes Bank has been increased to Rs 6,200 crore, Union minister Nirmala Sitharaman said on Friday. … The government has notified the Yes Bank reconstruction scheme as per which the moratorium on the troubled private sector lender will be lifted on March 18)

Leave Comment

Your email address will not be published.