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CURRENT AFFAIRS ACIO 2021 > DECEMBER 2020 > Flashcards

DECEMBER 2020 Flashcards

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1
Q

Honey Farmer Producer Organisation (FPO)

Programme?

A

Programme aims to address the issues faced
by the beekeeping industry and also promote honey
production in the country.
Ministry of Agriculture and Farmers’
Welfare, (Narendra Singh Tomar).
the Central Sector Scheme for Formation & Promotion
of new 10,000 FPOs.
Government has approved 2,200 FPOs for the
current financial year 2020-21.
The task of creating these FPOs has been given to
Nabard (600 FPOs), Small Farmers’ Agribusiness
Consortium (500), National Cooperative Development
Corporation (500) and NAFED which will support 50
commodity-specific FPOs and some State-level
organisations.

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2
Q

Ministry responsible for Honer FPO programme

A

Ministry of Agriculture and Farmers’

Welfare,

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3
Q

The task of creating these FPOs has been given to?

A 
Nabard (600 FPOs),
 Small Farmers’ Agribusiness
Consortium (500),
 National Cooperative Development
Corporation (500) and 
NAFED which will support 50
commodity-specific FPOs and 
some State-level
organisations.
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4
Q

Narendra Singh Tomar virtually inaugurated
Honey Farmer Producer Organisation (FPO)
Programme in five states, for producing honey.These 5 FPOs will be set up by the National Agricultural
Cooperative Marketing Federation of India Limited
(NAFED). They will be set up at?

A 
East Champaran (Bihar)
 Morena (Madhya Pradesh)
 Bharatpur (Rajasthan)
 Mathura (Uttar Pradesh)
 Sunderbans (West Bengal)
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5
Q

Narendra Singh Tomar virtually inaugurated
Honey Farmer Producer Organisation (FPO)
Programme in five states, for producing honey.These 5 FPOs will be set up by ?

A

National Agricultural
Cooperative Marketing Federation of India Limited
(NAFED).

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6
Q

Government has approved ____________ FPOs for the current financial year 2020-21.

A

2,200

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7
Q

What are FPOs?

A

a Producer Organisation (PO) where the members are farmers.
Small Farmers’ Agribusiness Consortium (SFAC) is providing support for the promotion of FPOs.

FPOs help in the collectivization of such
small,
marginal and
landless farmers
in order to give them the collective strength to deal with such issues.
Members of the FPO will manage their activities together in the organization to get better access to technology, input, finance and market for faster enhancement of their income.

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8
Q

Support by the Government for FPO?

A

Central Sector Scheme titled “Formation and Promotion of Farmer Producer Organizations (FPOs)” with a clear strategy and committed resources to form and promote 10,000 new FPOs.

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9
Q

What are the essential features of a PO?

A

It is formed by a group of producers for either farm or non-farm activities.

It is a registered body and a legal entity.

Producers are shareholders in the organization.

It deals with business activities related to the primary produce/product.

It works for the benefit of the member producers.

A part of the profit is shared amongst the producers.

Rest of the surplus is added to its owned funds for business expansion.

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10
Q

Apiculture ?

A

the care and management of honey bees for the production of honey and wax. In this method, bees are bred commercially in apiaries, an area where a lot of beehives can be placed.

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11
Q

Monetary Policy Committee ?DEC 2020

A

under the liquidity adjustment facility

the repo rate ( the rate at which RBI lends to banks)
stands unchanged at 4 per cent.

The reverse repo rate
also stayed unchanged at 3.35 per cent.

The marginal standing facility (MSF) rate and the
Bank Rate have been kept unchanged at 4.25%.

CPI inflation is seen at 6.8% for Q3 and 5.8% for Q4.

Real GDP growth for FY21 is projected at -7.5%.
Q3
FY-21 GDP is seen at +0.1% while Q4 FY-21 GDP is
seen at +0.7%
RBI proposes to enhance limits for contactless card
payments from ₹2000 to ₹5000 from Jan 2021.

On-tap Targeted Long Term Repo Operations
(TLTRO) will be expanded to cover other stressed
sectors in tandem with Emergency Credit Line
Guarantee Scheme (ECLGS) schem

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12
Q

the repo rate ?

A

Repo rate refers to the rate at which commercial banks borrow money by selling their securities to the Central bank of our country i.e Reserve Bank of India (RBI) to maintain liquidity, in case of shortage of funds or due to some statutory measures. It is one of the main tools of RBI to keep inflation under control.
the repo rate ( the rate at which RBI lends to banks)
stands unchanged at 4 per cent.

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13
Q

Reverse Repo Rate ?

A

Reverse Repo Rate is a mechanism to absorb the liquidity in the market, thus restricting the borrowing power of investors.

Reverse Repo Rate is when the RBI borrows money from banks when there is excess liquidity in the market. The banks benefit out of it by receiving interest for their holdings with the central bank.

The reverse repo rate
also stayed unchanged at 3.35 per cent.

During high levels of inflation in the economy, the RBI increases the reverse repo. It encourages the banks to park more funds with the RBI to earn higher returns on excess funds. Banks are left with lesser funds to extend loans and borrowings to consumers.

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14
Q

Liquidity Adjustment Facility (LAF)?

A

a tool used in monetary policy by the RBI, that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements.

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15
Q

Long term repo operation (TLTRO)?

A

The LTRO is a tool under which the central bank provides one-year to three-year money to banks at the prevailing repo rate, accepting government securities with matching or higher tenure as the collateral.

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16
Q

How is TLTRO different from LAF and MSF?

A

While the RBI’s current windows of liquidity adjustment facility (LAF) and marginal standing facility (MSF) offer banks money for their immediate needs ranging from 1-28 days, the LTRO supplies them with liquidity for their 1- to 3-year needs. LTRO operations are intended to prevent short-term interest rates in the market from drifting a long way away from the policy rate, which is the repo rate.

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17
Q

Emergency Credit Line Guarantee Scheme (ECLGS)?

A

Under the Scheme, 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. 3 lakh crore to eligible MSMEs and interested MUDRA borrowers.

The credit will be provided in the form of a Guaranteed Emergency Credit Line (GECL) facility.

The Scheme would be applicable to all loans sanctioned under GECL Facility during the period from the date of announcement of the Scheme to 31.10.2020.

Tenor of the loan under Scheme shall be four years with a moratorium period of one year on the principal amount.

No Guarantee Fee shall be charged by NCGTC from the Member Lending Institutions (MLIs) under the Scheme.

Interest rates under the Scheme shall be capped at 9.25% for banks and FIs, and at 14% for NBFCs.

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18
Q

RBI orders ___________ Bank to halt its digital

launches?

A

HDFC

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19
Q

WHY RBI orders HDFC Bank to halt its digital

launches?

A

power failure in the primary data centre.

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20
Q

______________has topped the 2020

Fortune 500 list of Indian companies,

A

Reliance Industries Ltd (RIL)

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21
Q

The FORTUNE 500 list was published by Fortune India, which

is part of the Kolkata-based___________ GROUP

A

RP Sanjiv Goenka Group

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22
Q

RANK 2 AND 3 IN FORTUNE 500 LIST?

A

Indian Oil
Corporation Ltd (IOC), bagged the second spot, followed
by

Oil and Natural Gas Corporation (ONGC) at the third
position.

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23
Q

top 10 companies on the 2020

Fortune India-500 list

A

. Reliance Industries

  1. Indian Oil Corporation
  2. Oil and Natural Gas Corporation
  3. State Bank of India
  4. Bharat Petroleum Corporation
  5. Tata Motors
  6. Rajesh Exports
  7. Tata Consultancy Services
  8. ICICI Bank
  9. Larsen & Toubro
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24
Q

Indian Navy Day:

A

04 December

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25
The theme of Navy Day | 2020 is?
“Indian Navy Combat Ready, Credible & | Cohesive”.
26
Operation Trident ?
on December 4 in 1971, the Indian Navy sank four Pakistani vessels and also killed over 500 Pakistani Navy personnel, meanwhile, the Indian side suffered no losses
27
“Father of the Indian Navy”.
Chhatrapati Shivaji Bhosle
28
Atmanirbhar Bharat Rojgar Yojana (ABRY)
to boost employment in the formal sector by encouraging the businesses to do fresh hiring amid the pandemic. will also incentivize the creation of new employment opportunities under Atmanirbhar Bharat Package 3.0. The scheme will provide subsidy for two years in respect of new employees engaged on or after October 1, 2020, and up to June 30, 2021. The government will pay both 12 per cent employees’ contribution and 12 per cent employers’ contribution i.e. 24 per cent of wages towards EPF in respect of new employees in establishments employing up to 1,000 employees for two years It will pay only employees’ share of EPF contribution i.e. 12 per cent of wages in respect of new employees in establishments employing more than 1,000 employees for two years.
29
The Cabinet has approved an expenditure of ______________ FOR ABRY
₹ 1,584 crores for the current financial year and ₹ 22,810 crores for the entire scheme period from 2020 to 2023.
30
EPF and ABRY provisions?
The government will pay both 12 per cent employees’ contribution and 12 per cent employers’ contribution i.e. 24 per cent of wages towards EPF in respect of new employees in establishments employing up to 1,000 employees for two years It will pay only employees’ share of EPF contribution i.e. 12 per cent of wages in respect of new employees in establishments employing more than 1,000 employees for two years.
31
who is eligible for ABRY?
An employee drawing monthly wage of less than ₹ 15,000 who was not working in any establishment registered with the Employees’ Provident Fund Organisation (EPFO) before October 1, 2020, and did not have a Universal Account Number (UAN) or EPF Member account number prior to October 1, 2020, will be eligible for the benefit. Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than ₹ 15,000 who made exit from employment during COVID pandemic from March 1, 2020, to September 30, 2020, and did not join employment in any EPF covered establishment up to September 30, 2020 will also be eligible to avail benefit.
32
Quarterly Return filing & Monthly Payment of Taxes (QRMP)’ scheme for small taxpayers under the GST system IS?
Persons with aggregate turnover up to Rs 5 crore would be allowed to furnish their GSTR-1 and GSTR3B returns on a quarterly basis, beginning JanuaryMarch quarter of 2020-21. Quarterly GSTR-1 and GSTR-3B can also be filed through an SMS.  Taxpayers can also make GST payments every month, through challan, with effect from January 1, 2021.  This can be done either by self-assessment of monthly liability or 35% of net cash liability of previous filed GSTR-3B of the quarter.  Under this, the registered person or a taxpayer will furnish a return for every quarter, under sub-rule (1) of rule 61A of the Central Goods and Services Tax Rules, 2017 and pay the monthly tax under subsection (7) of section 39 of the same Act.  After the above changes, the act is named as the Central Goods and Services Tax (Thirteenth Amendment) Rules, 2020
33
_____________ and _____________bag | Sportsperson of the Year awards
``` Bajrang Punia (Freestyle-Wrestling) and Elavenil Valarivan (Shooting), ```
34
The historical fort cities of ______and_______ in Madhya Pradesh have been included in the list of UNESCO’s world heritage cities under its The World Heritage Cities Programme. U
Gwalior and Orchha
35
The World | Heritage Cities Programme.
Under the plan, UNESCO will suggest best measures and resources for the development and beautification of these places as per the UNESCO Historic Urban Landscape recommendations. The inclusion will lead to the beautification of both cities by the MP Tourism Department in collaboration with UNESCO.  In this regard, UNESCO team will visit the state in 2021 and will prepare a master plan for their development and conservation under the Historic Urban Landscape recommendation.  Chemical treatment of historic spots like Mansingh Palace, Gujri Mahal and Sahastrabahu Temple will also be done so that art inscribed on them will become more visible.  Guards will also be deployed at both places to welcome tourists as per the Indian traditions
36
With this Inclusion(gwalior and orchha), the total number of UNESCO World Heritage Cities of India will increase to ________?
40
37
Gwalior was established in the 9th century and ruled | by ____________?
Gurjar Pratihar Rajvansh, Tomar, Baghel Kachvaho and Scindias.
38
Orchha means
‘hidden palace
39
famous spots in Orchha
``` The famous spots in the town are Raj Mahal, Jehangir Mahal, Ramraja Temple, Rai Praveen Mahal, and Laxminarayan Mandir. ```
40
famous spots in Gwalior
``` The famous spots include Sun Temple, Jal Vilas Palace, Memorial of Tansen, Tigra Dam, 15thcentury Gujari Mahal Palace among others. ```
41
__________and ___________ jointly named Time’s | ‘Person of the Year’ 2020
Joe Biden, Kamala Harris
42
Time magazine has named____________ as its Entertainer of the Year,
Korean | pop group BTS
43
basketball star _________ as Athlete of the Year.
LeBron James
44
Zoom founder________ was aptly named | Businessperson Of The Year,
Eric Yuan
45
India ranks _____in Human Development Index | 2020
131 among 189 countries i
46
who release Human Development Index report
``` United Nations Development Programme (UNDP), ```
47
Toppers in Human Development Index report 2020
``` Norway topped the index, followed by Ireland, Switzerland, Hong Kong and Iceland, ```
48
lowest rank in HDI 2020
Niger is the lowest ranked country at 189, placed among Low human development category, with a score of 0.394
49
What is Human Development Index?
The Human Development Index measures average achievement of the countries in 3 basic dimensions of human development i.e. life expectancy, education and per capita income.
50
UNEP announces 2020 Champions of the Earth Award. The Champions of the Earth Award is presented in 5 categories?
1. Lifetime Achievement, 2. Inspiration and Action, 3. Policy Leadership, 4. Entrepreneur Vision, 5. Science and Innovation.
51
UNEP announces 2020 Champions of the Earth Award Policy Leadership:
Prime Minister Frank Bainimarama of Fiji
52
UNEP announces 2020 Champions of the Earth Award Inspiration and Action:
Yacouba Sawadogo (Burkina Faso),
53
UNEP announces 2020 Champions of the Earth Award Inspiration and Action:
Nemonte Nenquimo (Ecuador)
54
UNEP announces 2020 Champions of the Earth Award Science and Innovation:
Dr Fabian Leendertz (Germany
55
UNEP announces 2020 Champions of the Earth Award Entrepreneur Vision:
Mindy Lubber (USA)
56
UNEP announces 2020 Champions of the Earth Award  Lifetime Achievement Award:
Professor Robert D. Bullard (USA)
57
Champions of the Earth award:?
The UN Environment Program (UNEP) is presenting the Champions of the Earth Award since 2005, to inspire and motivate more people to act for nature. The award recognizes outstanding environmental leaders from the public and private sectors, and from civil society for their pioneering initiatives aimed at healing the planet amid natural and man-made threats and whose activities have had a positive impact on the environment
58
UNESCO launches ________ award on | creative economy
Bangabandhu
59
AMOUNT OF UNESCO Bangladesh Bangabandhu Sheikh Mujibur Rahman International Prize for the “Creative Economy
The award will be given every two years with $50,000 prize money – three times in six years. The renewal of the award will be discussed later
60
India ranks ______in Human Freedom Index 2020
111 out of 162 countries
61
TOPER AND LOWEST RANKER IN HUMAN FREEDOM INDEX
The first three spots have been bagged by New Zealand, Switzerland and Hong Kong. The United States and the United Kingdom are tied at the 17th spot on the index. War-torn Syria ranked the last on the list
62
Human Freedom Index:?
Human Freedom Index was published by American think tank Cato Institute and Fraser Institute in Canada. The index takes into account 76 indicators of personal, civil, and economic freedoms to rank 162 countries from 2008 to 2018. The institutes noted that the world has seen a notable decline in personal freedom since 2008.
63
_________has released a white paper titled ‘Vision | 2035: Public Health Surveillance in India
NITI Aayog
64
The white paper lays out India’s vision of 2035 for public health surveillance through the integration of the three-tiered public health system into____________
Ayushman | Bharat
65
India finished ________in the overall Medals List, Germany topped the list with 16 medals. The Cologne Boxing World 2020 was hosted by the European Boxing Confederation (EUBC)
2nd
66
The World Bank has approved 4 India projects worth | over _________
$800 million.
67
The World Bank has approved 4 India projects worth over $800 million. The projects that have been approved are
1. $400 million Second Accelerating India’s COVID-19 Social Protection Response Program. 2. $100 million Chhattisgarh Inclusive Rural and Accelerated Agriculture Growth Project (CHIRAAG). 3. $68 million Nagaland: Enhancing Classroom Teaching and Resources Project. ``` 4. $250 million Second Dam Improvement and Rehabilitation Project (DRIP-2) ```
68
$400 Million Second Accelerating India’s COVID-19 | Social Protection Response Program:
The project supports and protects India’s efforts to provide social assistance to poor and vulnerable households, severely affected by the COVID-19 pandemic.  It is the 2nd operation in a programmatic series of 2. The 1st operation of $750 million was approved in May 2020. The Program builds on the outcomes achieved by the 1st operation.
69
CHIRAAG project:
Amount sanctioned: USD 100 million  CHIRAAG aims at promoting nutrition-supportive agriculture for tribal households in Chhattisgarh  It will develop sustainable production systems that allow tribal households in remote areas of Chhattisgarh to practice round-the-year production of diversified and nutritious food.  It will be implemented in the southern tribal-majority region of the state where a large population is undernourished and poor.  The project will benefit over 180,000 households from about 1,000 villages in eight districts of Chhattisgarh
70
Nagaland: Enhancing Classroom Teaching and | Resources Projec
Amount approved: USD 68 million  It will improve classroom instruction; create opportunities for the professional development of teachers, and build technology systems to provide students and teachers with more access to blended and online learning as well as allow better monitoring of policies and programs.  It will enhance overall quality education in the state
71
Dam Improvement and Rehabilitation Project (DRIP2):
Financial aid approved: USD 250 million.  DRIP-2 will improve the safety and performance of existing dams across various states of India, and strengthen dam safety by building dam safety guidelines; bring in global experience; and introduce newer technologies.
72
Good Governance Day:
25 December In this day nation celebrates the birth anniversary of Bharat Ratna and former-Prime Minister Atal Bihari Vajpaye
73
ICC Spirit of Cricket Award of the Decade:
MS | Dhoni (India)
74
Sir Garfield Sobers Award for ICC Male Cricketer of the Decade: AND ICC Men’s ODI Cricketer of the Decade
Virat Kohli (India)
75
Private lender _____has launched an ‘SMS Pay’ functionality on POS terminals, which would allow merchants to accept contactless and remote payments from their customers
YES Bank
76
YES Bank has collaborated with French payment services company ___________ to launch the new facility
Worldline
77
The Reserve Bank of India has announced that the ___________ system will be made available round the clock on all days of the year with effect from 00:30 hours on December 14, 2020.
Real Time Gross Settlement (RTGS)
78
The private lender _______ Bank has launched a new version of its mobile payment app called iMobile Pay, to offer payment and banking services to customers of any bank. The latest version of the app is interoperable and will now allow payments and other banking services to even those customers who do not hold an_______ Bank account.
ICICI
79
The Reserve Bank of India has cancelled the licence | of ______________ in Maharashtra,
Karad Janata Sahakari Bank Ltd
80
The Reserve Bank of India has cancelled the licence of Karad Janata Sahakari Bank Ltd in Maharashtra, as it does not have adequate capital and earning prospects. As such, it does not comply with the provisions of the Banking Regulation Act, 1949. More than 99 per cent of the depositors of the bank will get full payment of their deposits from __________________
Deposit Insurance and Credit Guarantee Corporation (DICGC).
81
Bank of Baroda (BoB) has recently launched the___________ Scheme as part of its Baroda Gold Loan
Atmanirbhar Women
82
Atmanirbhar Women Scheme
scheme aims to target the self-reliant woman in India. Under the scheme, the bank is offering loans at 0.50 per cent concession for women. The bank under the gold loan scheme is offering agrigold loan at 0.25 per cent concession and for a retail loan at 0.50 per cent concessioN
83
_______Bank and ________have joined hands | under a bancassurance partnership
RBL | ICICI Prudential
84
The Reserve Bank of India (RBI) has decided to set up an ____________ in Jaipur for the receipt, storage and dispatch of currency notes
Automated Banknote Processing Centre | ABPC

CURRENT AFFAIRS ACIO 2021 (5 decks)

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