[MISSION 2022] INSIGHTS CURRENT AFFAIRS ( 13 November 2021) REVISION THROUGH MCQS – INSIGHTSIAS

Ans: (c)

Explanation:

• The Scheme is aimed at enhancing access to the government securities market for retail investors.
• It offers them a new avenue for directly investing in the securities issued by the Centre and the state governments.
• The scheme will provide online access to the government securities market – both primary and secondary – along with the facility to open their gilt securities account (‘Retail Direct’) with the RBI.

Refer: https://www.insightsonindia.com/2021/11/13/new-rbi-initiatives/

Ans: (d)

Explanation:

• A Government Security (G-Sec) is a tradeable instrument issued by the Central Government or the State Governments. It acknowledges the Government’s debt obligation.
• Such securities are short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with original maturity of one year or more).
• In India, the Central Government issues both, treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs). G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments.

Refer: https://www.insightsonindia.com/2021/11/13/new-rbi-initiatives/

Ans: (c)

Explanation:

• Why do states need the centre’s permission while borrowing? Is it mandatory for all states?
  • Article 293(3) of the Constitution requires states to obtain the Centre’s consent in order to borrow in case the state is indebted to the Centre over a previous loan.
  • This consent can also be granted subject to certain conditions by virtue of Article 293(4).
  • In practice, the Centre has been exercising this power in accordance with the recommendations of the Finance Commission.
  • Every single state is currently indebted to the Centre and thus, all of them require the Centre’s consent in order to borrow.
• Does the Centre have unfettered power to impose conditions under this provision?
  • Neither does the provision itself offer any guidance on this, nor is there any judicial precedent that one could rely on.
  • Interestingly, even though this question formed part of the terms of reference of the 15th Finance Commission, it was not addressed in its interim report.
• So, when can the centre impose conditions?
  • The Centre can impose conditions only when it gives consent for state borrowing, and it can only give such consent when the state is indebted to the Centre.

Refer: https://www.insightsonindia.com/2021/11/13/centre-allows-seven-states-to-borrow-more/

Ans: (b)

Explanation:

• As the Permanent Chairman of Chiefs of Staff Committee, CDS will perform the following functions:
  • Implementing weapons procurement procedures.
  • Integrating operations of the Army, Air Force and Navy.
  • Bring about jointness and ensure optimal utilisation of infrastructure in the three Services.
  • Apart from being the military advisor for the government, the CDS also heads the Department of Military Affairs.
  • Authority to create theatre commands as and when needed.
  • Command tri-service agencies, organisations, and commands including those related to cyber and space.
  • CDS will be member of Defence Acquisition Council and Defence Planning Committee
  • Function as the Military Advisor to the Nuclear Command Authority.
  • Bring about reforms in the functioning of three services aimed at augmenting combat capabilities of the Armed Forces by reducing wasteful expenditure.
  • Assign inter-services prioritisation to capital acquisition proposals.
  • The CDS’s salary and perquisites will be same as the service chiefs. The CDS will come under the Right to Information Act.

Refer: https://www.insightsonindia.com/2021/11/13/cybercrime-went-up-by-500-during-pandemic/

Ans: (c)

Explanation:

• The Indian Computer Emergency Response Team (CERT-In) is an office within the Ministry of Electronics and Information Technology of the Government of India. It is the nodal agency to deal with cyber security threats like hacking and phishing. It strengthens security-related defence of the Indian Internet domain.

Refer: https://www.insightsonindia.com/2021/11/13/cybercrime-went-up-by-500-during-pandemic/

Ans: (a)

Explanation:

• The G4 nations comprising Brazil, Germany, India, and Japanare four countries which support each other’s bids for permanent seats on the United Nations Security Council. Unlike the G7, where the common denominator is the economy and long-term political motives, the G4’s primary aim is the permanent member seats on the Security Council.

Refer: https://en.wikipedia.org/wiki/G4_nations