Question : Ministry of Housing & Urban Affairs launched a scheme PM SVANidhi scheme to:
facilitate working capital loans to the street vendors to help them restart their businesses which were adversely impacted due to the lockdowns imposed during COVID-19 pandemic
reduce poverty and vulnerability of the urban poor households by enabling them to access gainful self employment
address urban housing shortage among the economically weaker sections
provide a guideline for cities and towns to ensure that no untreated waste-water is released into the environment

• Ministry of Housing & Urban Affairs (MoHUA) is organising ‘SVANidhi Mahotsav’ – a cultural festival for celebrating the success of PM SVANidhi Scheme and the beneficiary street vendors & their families, from 09 July to 31 July, 2022 in 75 cities across 33 States/UTs of the country. 
• Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment.
• The PM SVANidhi scheme was launched on June 1, 2020 to facilitate working capital loans to the street vendors to help them restart their businesses which were adversely impacted due to the lockdowns imposed during COVID-19 pandemic.
• The scheme intends to facilitate collateral free working capital loans of up to INR10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.
• The PM SVANidhi scheme offers incentives in the form of:
  •  interest subsidy @ 7% per annum on regular repayment of loan
  • cashback upto INR1200/- per annum on undertaking prescribed digital transactions
  • eligibility for enhanced next tranche of loans

Source: PIB

Question : With reference to the National Apprenticeship Promotion Scheme (NAPS), which of the following statements is/are correct?

1. It was launched in 2016 to promote apprenticeship training in India and to provide financial support to establishments undertaking apprenticeship.
2. Sharing of basic training cost up to a maximum of Rs. 7,500 per apprentice is one of the components of this scheme.
3. It is not part of the Direct Beneficiary Transfer (DBT) scheme.

Select the correct answer using the codes given below:
1 and 2 only
2 only
1 and 3 only
3 only

• Recently, the Ministry of Skill Development and Entrepreneurship (MSDE) announced that the National Apprenticeship Promotion Scheme (NAPS) will be a part of Direct Beneficiary Transfer (DBT) scheme, providing direct government benefits to all apprentices.

Statement 1 is correct:

• National Apprenticeship Promotion Scheme (NAPS) was launched on August 19, 2016, to promote apprenticeship training in the country and to provide financial support to establishments undertaking apprenticeship. The program aims to motivate employers to hire apprentices and aid them in discovering the right job roles while maximising their potential through in-depth skill development. 

Statement 2 is correct:
The scheme has the following two components

• Sharing of 25% of prescribed stipend subject to a maximum of Rs. 1500/- per month per apprentice with the employers.
• Sharing of basic training cost up to a maximum of Rs. 7,500 per apprentice.

Statement 3 is not correct:

• Recently, the Ministry of Skill Development and Entrepreneurship (MSDE) made National Apprenticeship Promotion Scheme (NAPS), a part of Direct Beneficiary Transfer (DBT) scheme, providing direct government benefits to all apprentices. Earlier companies used to pay apprentices the entire amount and then seek reimbursement from the government.
• With the launch of the DBT scheme, the government will directly transfer its contribution to bank accounts of apprentices through National Skill Development Corporation (NSDC), 25% of the stipend payable up to Rs. 1500/- per month.

Source: PIB    Apprenticeship Training

Question : With reference to the intellectual property right, which of the following items has/have geographical indication tag in India?

1. Gulabi Meenakari
2. Chunar Glaze Pottery
3. Kashmiri Hand Knotted Carpet

Select the correct answer using the codes given below:
1 only
2 and 3 only
1 and 3 only
1, 2 and 3

During the G7 meet in Germany, Prime Minister Narendra Modi gifted a gulabi meenakari brooch and cufflink set to US President Joe Biden.  Gulabi Meenakari is a GI tagged art form of Varanasi in Uttar Pradesh. A piece of pure silver is moulded into a base form, and the chosen design is embossed in the metal.
Gulabi Minakari is one of the rarest crafts in India that is practiced in the by lanes of Varanasi, near Gai Ghat. Minakari is an art form from Persia and involves colouring the surface of metals by fusing different colours. This art was brought to the city of Varanasi by Persian enamellists during the Mughal era around the early 17th century. It has a GI tag.
Chunar Glaze Pottery has a GI tag. It is associated with Mirzapur, Uttar Pradesh.
Kashmiri Hand Knotted Carpet: The origin of hand knotted carpets locally known as "Kal baffi" dates back to 15th century after which it progressively attained the high degree of perfection. It is said that Sultan Zain-ul-Abidin brought carpet weavers from Persia and central Asia into Kashmir to train the local inhabitants. It has a GI tag. At, recent G7 meeting, a handmade knotted silk carpet from Kashmir was gifted to Canadian PM Justin Trudeau by the Prime Minister of India.

Source:
Indian Express
GI Tag 

Question : An increase in interest rates paid on small savings schemes indicates which of the following?

1. reduction in the government’s reliance on market borrowings
2. greater inflows into the National Small Savings Fund (NSSF)

Select the correct answer using the codes given below:
1 only
2 only
Both 1 and 2
Neither 1 nor 2

• Economists expect the Centre to raise the interest rates paid on small savings schemes for the July to September 2022 quarter, with the yields on 10-year government securities hitting a four-year high of 7.6% earlier this month.
• Raising rates on small savings could also help the government reduce its reliance on market borrowings this year. This will also encourage greater inflows into the National Small Savings Fund (NSSF), which can then be tapped more aggressively for partially funding the fiscal deficit while proportionately reducing the Centre’s record market borrowing plan for FY23.
• The interest rates on small savings schemes are reviewed every quarter by the government. The formula to arrive at the interest rates for small savings scheme was given by the Shyamala Gopinath Committee. The committee had suggested that the interest rates of different schemes should be 25-100 bps higher than the yields of the government bonds of similar maturity.

Source: The Hindu

Question : 'CHAMPIONS Portal’ has been launched for:

helping and promoting the Micro, Small and Medium Enterprises (MSMEs).
eradicating child labour to achieve the target of child labour free society.
promoting financial inclusion in the country.
providing necessary information that is related to India’s foreign trade.

• The World MSME Day, observed annually on June 27 since 2017, serves as a reminder to governments to create a business climate in which small companies also have an opportunity to thrive.
• The Union Ministry of MSME has launched CHAMPIONS portal in 2020. It is a Technology driven Control Room-Cum-Management Information System.  The system utilising modern ICT tools is aimed at assisting Indian MSMEs march into the big league as National and Global CHAMPIONS. The CHAMPIONS stands here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. Accordingly, the name of the system is CHAMPIONS.
• Three basic objectives of the CHAMPIONS:
  •  To help the MSMEs in this difficult situation in terms of finance, raw materials, labour, permissions, etc.
  •  To help the MSMEs capture new opportunities in manufacturing and services sectors.
  •  To identify the sparks, i.e., the bright MSMEs who can withstand at present and become national and international champions.

Question :

1. National Database of Unorganized Workers (NDUW), a centralized database of all unorganized workers (UWs) is being created with eSHRAM Portal which will be seeded with Aadhaar. 
2. A national toll free number — 14434 launched to assist and address the queries of workers seeking registration on the portal
3. To improve the implementation efficiency of the social security services meant for the unorganized workers and integration of Social Security Schemes being administered by Ministry for Labour and Employment (MoLE) and subsequently those run by other ministries as well.

1 and 2
1 and 3
2 and 3
1, 2 and 3

• Creation of a centralized database of all unorganized workers (UWs) including Construction Workers, Migrant Workers, Gig and Platform workers, Street Vendors, Domestic Workers, Agriculture Workers, etc., to be seeded with Aadhaar.
• To improve the implementation efficiency of the social security services for the unorganized workers.
• Integration of Social Security Schemes meant for UWs being administered by Ministry for Labour and Employment (MoLE) and subsequently those run by other ministries as well.
• Sharing of information in respect of registered unorganised workers with various stakeholders such as Ministries/ Departments/ Boards/ Agencies/ Organisations of the Central & State Governments through APIs for delivery of various social security and welfare schemes being administered by them.
• Portability of the social security and welfare benefits to the migrant and construction workers.
• Providing a comprehensive database to Central and State Governments for tackling any National Crises like COVID-19 in future.

Question :

1. Expansion of bank branches was mostly in urban areas
2. Agriculture and small scale industries were not getting proper access to banking facilities
3. Bank credit was not utilized for financing projects according to Plan priorities
4. Easy and cheap availability of credit to a few industrial houses had encouraged growth of monopolies

1 and 2 only
1, 2 and 3 only
2 and 4 only
All of the above

• All were the reasons leading to bank nationalization.
• And the objectives of bank nationalization were:

1. Channelizing bank capital into rural and semi urban areas
2. Checking misuse of banking capital for financing speculative activities
3. To shift from class banking to mass banking
4. Make banks an integral part of socio-economic development

Question :

1. Its objective is to stabilize the income of farmers to ensure their continuance in farming.
2. Under the scheme only food crops damages are covered.
3. The scheme covers post-harvest losses due to hail storms and unseasonal rainfall.

2 only
1 and 2 only
1, 2 and 3
1 and 3 only

1. To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.
2. To stabilise the income of farmers to ensure their continuance in farming.
3. To encourage farmers to adopt innovative and modern agricultural practices.
4. To ensure flow of credit to the agriculture sector.

• Yield Losses (standing crops, on notified area basis). Comprehensive risk insurance is provided to cover yield losses due to non-preventable risks, such as Natural Fire and Lightning, Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado. Risks due to Flood, Inundation and Landslide, Drought, Dry spells, Pests/ Diseases also will be covered.
• In cases where majority of the insured farmers of a notified area, having intent to sow/plant and incurred expenditure for the purpose, are prevented from sowing/planting the insured crop due to adverse weather conditions, shall be eligible for indemnity claims upto a maximum of 25 per cent of the sum-insured.
• In post-harvest losses, coverage will be available up to a maximum period of 14 days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field.
• For certain localized problems, Loss / damage resulting from occurrence of identified localized risks like hailstorm, landslide, and Inundation affecting isolated farms in the notified area would also be covered.

Question :

1. The present share of Direct Tax is 52% of the total tax receipt.
2. The direct tax collection this year has surpassed the indirect tax collection

1 only
2 only
Both 1 and 2
Neither 1 nor 2

• Both Statement are correct

For better understanding, read more: CBDT Aims to Lift Tax-GDP Ratio to 15-20%

Question : Consider the following statements regarding Zero Budget Natural Farming (ZBNF):

1. Crops are raised without using fertilizers & pesticides
2. Helps in retaining soil fertility
3. Ensures zero cost of production

Which of the statements given above are correct?

1 only
1 and 2 only
2 annd 3 only
1, 2 and 3

• All the statements are correct.

For related information, see our Hawk's Eye Coverage: A Roadmap to scale up ‘Natural Farming’ by NITI Aayog

Question : The India’s first Global Ayush Investment and Innovation Summit 2022 held in which of the following city of Gujarat:


Ahmedabad
Gandhinagar
Vadodara
Rajkot

India’s first Global Ayush Investment and Innovation Summit 2022

• The India’s first Global Ayush Investment and Innovation Summit 2022 was held in Gandhinagar, Gujarat.
• The first ever mega event of this scale in Ayush sector facilitated agreements with international and national institutions and various other sectors, fuelling financial considerations, mutual research and increasing Ayush reach globally.
• During the event, a total of 12 MoUs were also signed between the Central Council for Research in Ayurveda Sciences (CCRAS), Ministry of Ayush and various prestigious research institutes in the country. The institutes include IIT Delhi, IIT Guwahati, ICMR NITM, AIIMS, CSIR, NIPER, NIMHANS, JNU, ICGB, AVP, TDU.

Question :
Ministry of New and Renewable Energy (MNRE)
Ministry of Statistics and Programme Implementation (MoSPI)
NITI Aayog - National Institution for Transforming India
Department of Economic Affair

State Energy and Climate Index

• NITI Aayog has recently launched the State Energy and Climate Index that has ranked States and Union Territories (UTs) on certain parameters.
• Gujarat has topped NITI Aayog State Energy and Cli­m­ate Index-(SECI) Ro­und 1 among larger states.
• This in­dex aims to rank states and union territories on following six para­meters
  • discoms performance, access affordability and reliability of energy, clean energy initiatives, ene­rgy effi­cie­ncy, environmental sustai­nability and new initiatives.

For more details; Watch:

• State Energy and Climate Index

Question : Consider the following statements regarding the REWARD Project:

1. REWARD is one of the largest water management programs around the world.
2. This project Is a joint initiative of the Department of Land Resources, Ministry of Urban Development in association with the World Bank
3. The International Bank for Reconstruction and Development (IBRD) will provide financial support to this project.

Which of the statement/s given above is/are NOT correct?

1 only
2 only
1 and 3 only
2 and 3 only

Rejuvenating Watersheds for Agricultural Resilience through Innovative Development Programme (REWARD)

• The World Bank, the Government of India, the State Governments of Karnataka, and Odisha, have signed a deal for the Rejuvenating Watersheds for Agricultural Resilience through Innovative Development Programme to help national and state governments adopt improved watershed management practices to help farmers become more resilient to climate change, improve incomes, and promote higher productivity.
• Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD) is a project which is being implemented in three-four Indian states. It is planned as a six-year project and is one of the largest water management programs around the world.
• Hence, statement 1 is correct.
• This project Is a joint initiative of the Department of Land Resources, Ministry of Rural Development in association with the World Bank.
• Hence, statement 2 is incorrect.
• World Bank’s lending arm, the International Bank for Reconstruction and Development (IBRD) will provide financial support of USD 115 million to this project.
• Hence, statement 3 is correct.
• The loan has a 15 years’ maturity period with 4.5 years’ grace period.
• Karnataka will receive USD 60 million, Odisha will receive USD 49 million while the remaining USD 6 million will be utilized by the Indian Government’s Department of Land Resources.

Question :
1 only
2 only
Both 1 and 2
Neither 1 nor 2

GDP

• GDP covers all productive activity for producing goods and services, without duplication. In effect it adds apples and oranges, tractors and sickles, trade, transport, storage and communication, real estate, banking and government services through the mechanism of value.
• The System of National Accounting (SNA) is designed to measure production, consumption, and accumulation of income and wealth for assessing the performance of the economy.
• GDP data influence markets, signaling investment sentiments, flow of funds and balance of payments.
• The input-output relations impact productivity and allocation of resources; demand and supply influences prices, exchange rates, wage rates, employment and standard of living, affecting all walks of life.
• Statement 1 & 2 are correct

Question :

1. Regional Rural Bank (RRBs) are regulated by Reserve Bank of India 
2. Regional Rural Bank was formed to serve the credit needs of the small and marginal farmers
3. Regional Rural Bank was formed post economic reform of the year 1991

1 and 2 only
2 only
3 only
​1, 2 and 3

​Regional Rural Bank (RRBs)

• Regional Rural Bank (RRBs) was set up as state-sponsored, regionally based and rural oriented institutions under the Regional Rural Banks Act, 1976. RRBs are regulated by Reserve Bank of India and are supervised by NABARD. 
• Therefore, statement 1 is correct
• The mandate of RRBs is to: 

1. Serve the credit needs of the small and marginal farmers, agricultural labourers, socio-economically weaker section of population for development of agriculture, trade, commerce, industry and other productive activities. 
2. Reduce regional imbalances and increase rural employment generation activities. 
3. Develop such measures which could restrict the outflow of rural deposits to urban areas.

• Therefore, statement 2 is correct
• The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on 26th September, 1975 and Regional Rural Banks Act, 1976 with a view to developing the rural economy by providing money for the purpose of development of agriculture, trade, commerce, industry and other productive works related to village.
• Therefore, statement 3 is incorrect

Question :
Public Sector
Private Sector Bank
Co-operative Bank
Regional Rural Bank

Difference between a Commercial Bank and a Co-operative Bank

• A commercial bank is a bank that is formed for the commercial purpose and hence its primary aim is to earn profit from its banking business. On the other hand, cooperative banks are owned and operated by the members for a common purpose, which is to provide financial service to agriculturists and small businessmen in both urban and non-urban regions.
• Commercial Banks refer to both scheduled and non-scheduled commercial banks which are regulated under Banking Regulation Act, 1949. Co-Operative Banks are monitored and regulated by the Reserve Bank of India (RBI) and come under the Banking Regulations Act, 1949 as well as the banking laws act, 1965.
• In 1965, certain provisions of the Banking Regulation Act, 1949 (BR Act) were made applicable to co-operative banks. This gave Reserve Bank of India (RBI) some powers to regulate co-operative banks.   This was done to protect the interests of depositors and extend deposit insurance coverage to these banks. 

Question : Consider the following statements regarding Initial Public Offering (IPO): 

1. An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and also to retail (individual) investors
2. After the IPO, shares of the company are traded freely in the open market at what is known as the free float
3. Life Insurance Corporation (LIC) of India is going to be the biggest Indian IPO ever.

Which of the following statement/s given above is/are correct? 

1 and 2 only
1 and 3 only
3 only
1, 2 and 3

IPO is the selling of securities to the public in the primary market.

• An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors.
• An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. 
• Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. 

Primary Market and difference with Secondary Market

• Primary market deals with new securities being issued for the first time. It is also known as the new issues market.
• It is different from secondary market where existing securities are bought and sold. It is also known as the stock market or stock exchange.

About IPO

• It is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public.
• It is generally used by new and medium-sized firms that are looking for funds to grow and expand their business.
• Before an IPO a company is a private entity not subject to trade in a stock market. When the company reaches a stage in its growth where it believes it can stand the rigorous regulations of a financial authority (In India’s case the SEBI), it will begin to advertise its interest in going public, as in being listed in a stock exchange.
• Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded.
• After the IPO, shares are traded freely in the open market at what is known as the free float. 
• Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied by the number of shares sold to the public) and as a proportion of the total share capital (i.e., the number of shares sold to the public divided by the total shares outstanding). 
• Although IPO offers many benefits, there are also significant costs involved, chiefly those associated with the process such as banking and legal fees, and the ongoing requirement to disclose important and sometimes sensitive information. 

Question :

1. The International Seabed Authority
2. The International Maritime Organisation
3. International Whaling Commission

2 only
1 and 3 only
2 and 3 only
1, 2 and 3

The International Seabed Authority

• The International Seabed Authority (ISA) was established to organize, regulate and control all mineral-related activities in the international seabed area beyond the limits of national jurisdiction, an area underlying most of the world's oceans. It is an organization established by the United Nations Convention on the Law of the Sea

The International Maritime Organisation

• The IMO's primary purpose is to develop and maintain a comprehensive regulatory framework for shipping and its remit today includes maritime safety, environmental concerns, legal matters, technical co-operation, maritime security and the efficiency of shipping.

International Whaling Commission

• The International Whaling Commission (IWC) is an international body established under the terms of the 1946 International Convention for the Regulation of Whaling (ICRW) to "provide for the proper conservation of whale stocks and thus make possible the orderly development of the whaling industry"

Question :

1. Increase the Bank Interest Rates and Repo Rate
2. Increase the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
3. Decrease the Marginal Standing Facility Rate

1 and 2 only
1 and 3 only
3 only
1, 2 and 3 

In India, the Reserve Bank of India (RBI) is in charge of the Monetary Policy.

• The monetary policy can be expansionary or contractionary.

An expansionary monetary policy (Easy Monetary Policy)

• An expansionary monetary policy (Easy Monetary Policy) is focused on expanding (increasing) the money supply in an economy.

A Contractionary Monetary Policy

• A contractionary monetary policy (Tight Monetary Policy) is focused on contracting (decreasing) the money supply in an economy.
• Economic overheating, high inflation, or asset bubbles are some of the key factors that comes into consideration when the Central Bank adopt a tight monetary instance.

Aim

• A contractionary monetary policy is aimed at reducing the market liquidity (money supply) that in turn affect the consumption to tame the rising inflation that have an impact on the production and growth.
• At any point of time when the Central Bank (RBI) adopt a contractionary monetary policy, it will increase Interest Rates. We see hike in Repo, Reverse Repo, Marginal Standing Facility, Bank Rate etc.
• It will increase Reserve Ratios like Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
• As a part of Tight Monetary Policy, to suck liquidity from the market, the Central Bank sells government securities from the market as part of Open Market Operations (OMO).

Question : Consider the following statement regarding Securities and Exchange Board of India (SEBI):

1. SEBI was initially formed as a non-statutory body and later acquired statutory status in 1992.
2. SEBI is an autonomous organization that works under the administration of the Union Finance Ministry.
3. Headquarter of SEBI is in Delhi and has four regional offices located in Mumbai, Chennai, Ahmedabad and Kolkata.

Which of the statement(s) given above is/are correct?
1 only
1 and 2 only
1 and 3 only
1, 2 and 3

The Securities and Exchange Board of India

• To protect the interests of the investors in securities along with promoting and regulating the securities markets, the Securities and Exchange Board of India was established under the Securities and Exchange Board of India Act, 1992 . 
• The Securities and Exchange Board of India is owned by the Government of India.
• The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India.
• The Securities and Exchange Board of India was established as a statutory body in the year 1992 and the provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) came into force on January 30, 1992.
  
• Headquartered in Mumbai, the Securities and Exchange Board of India (SEBI) has four regional offices located in Ahmedabad, Chennai, Delhi and Kolkata.
• SEBI is an autonomous organization that works under the administration of the Union Finance Ministry.

• SEBI review the market operations, organizational structure and administrative control of the stock exchanges.
• SEBI overlook the registration and regulation of Mutual Funds, Venture Capital Funds and Collective Investment Schemes.
• SEBI overlook the registration and regulation of working of market intermediaries such as merchant bankers, portfolio managers, stock broker etc.
• SEBI promote and regulate Self-Regulatory Organizations
• Prohibit fraudulent and unfair trade practices relating to securities markets;
• Promote investors‘ education and training of intermediaries of securities markets;
  prohibiting insider trading in securities;
• Regulate substantial acquisition of shares and take over of companies;
• Call for information from, undertaking inspection, conducting inquiries and audits of the stock  exchanges, mutual funds, other persons associated with the securities market, intermediaries and self-regulatory organisations in the securities market
  

Question : Consider the following statements regarding electoral bond:

1. Electoral bond can only be encashed by political parties, which had secured at least 1 percent of the votes polled in the most recent Lok Sabha or state election.
2. These bonds are redeemable in the designated account of a registered political party.
3. The bonds are available for purchase for a period of ten days each in the months of January, April, July and October only.

Which of the statement(s) given above is/are correct?
1 only
1 and 2 only
2 and 3 only
1, 2 and 3

Electoral Bond

• Electoral Bond is a financial instrument for making donations to political parties.
• Issued in multiples of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore without any maximum limit.
• State Bank of India is authorised to issue and encash these bonds, which are valid for fifteen days from the date of issuance.
• These bonds can only be encashed by political parties registered  under  section  29A  of  the Representation  of  the  Peoples  Act,  1951, which had secured at least 1 percent of the votes polled in the most recent Lok Sabha or state election.
• These bonds are redeemable in the designated account of a registered political party.
• The bonds are available for purchase by any person (who is a citizen of India or incorporated or established in India) for a period of ten days each in the months of January, April, July and October as may be specified by the Central Government.
• Donors can donate the bonds to their party of choice which can then be cashed in via the party's verified account within 15 days.
• A person being an individual can buy bonds, either singly or jointly with other individuals. Donor’s name is not mentioned on the bond.

Question : In which year the Railway Budget was merged with the Union Budget ?
 
2015
2016
2017
2018

• The Railway Budget was merged with the Union Budget in the year 2017.
• This saw another big change as the Budget date was changed to February 1.

Question : Consider the following statements regarding Online Digital Commerce Network (ONDC):

1. It will give more choice to consumers, who will be able to access a wider pool of sellers through ONDC. 
2. With more sellers, from kiranas to other retailers and service providers onboard, the e-tailers, who have been enrolling entities, will be able to use the platform to increase choice, transparency and trust of consumers. 

Which of the statements given above is/are correct?

1 only
2 only
Both 1 and 2 
Neither 1 nor 2

Online Digital Commerce Network (ONDC) 

• Government backed Online Digital Commerce Network (ONDC) has begun talks with private players, including some major e-tailers, to develop the platform modelled on the lines of UPI. 
• The idea is to give more choice to consumers, who will be able to access a wider pool of sellers through ONDC. 
• It will help in democratising the world.
• The open structure will allow companies to build on the architecture just as players such as Google Pay, Paytm and PhonePe are using UPI.
• The ONDC architecture was unveiled at the Startup Innovation Week. 
• With the broad architecture in place, the government is looking at setting up a not-for- profit company with around a dozen banks, depositories, exchanges and NPCI as the initial shareholders. 
• Consumers can simply log on to an app, such as one that offers UPI, and order whatever they want, with ONDC connecting them with sellers and logistics players, besides giving them payment options.
• The pitch to the e-commerce players is to focus on the buyers or consumers, without having to focus on sellers. 
• With more sellers, from kiranas to other retailers and service providers on board, the e-tailers, who have been enrolling entities, will be able to use the platform to increase choice, transparency and trust of consumers. 
• The sellers can also enter into arrangements with delivery partners and logistics players to move away from platforms such as Amazon or Flipkart and sell directly to consumers through the platform.

Question : Consider the following statements regarding National Beekeeping & Honey Mission (NBHM):

1. Madhukranti portal for online registration/traceability system for source of Honey & other beehive products have been launched.
2. A State of the Art honey & other beehive products testing lab at lARl, Pusa, New Delhi has been launched.
3. AMUL honey has been launched in collaboration with Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) and Banaskantha District Cooperative Milk Federation, Gujarat.

Which of the statement/s given above is/are correct?

1 only
1 and 2 only
2 and 3 only
1, 2 and 3

National Beekeeping & Honey Mission (NBHM):

• 8 project proposals of the State Govts./ Agencies/ Organizations/ Departments/ ICAR/ CAUs/ SAUs, etc. for total assistance of Rs. 1223.45 lakhs has approved by EC under NBHM by NBB.
• Madhukranti portal for online registration/ traceability system for source of Honey & other beehive products have been launched.
• More than 11,000 Beekeepers/ Beekeeping & Honey Societies/ Firms/ Companies with'17.00 lakhs honeybee colonies registered with NBB and uploaded on Madhukranti portal.
• A State of the Art honey & other beehive products testing lab at lARl, Pusa, New Delhi has been launched.
• 100 FPOs of Beekeepers/Honey Producers have been allotted to TRIFED (14 nos.), NAFED (60 nos.) and NDDB (26 nos.) in the identified areas/ Districts/Ctusters selected by the National Bee Board (NBB) for implementation of activities under NBHM.
• AMUL honey has been launched in collaboration with Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) and Banaskantha District Cooperative Milk Federation, Gujarat.
• All three statements are correct

Question :

1. It was established during the Sixth BRICS Summit in Fortaleza (2014) and members of BRICS can only be the members of the bank.
2. Every member has voting rights in the proportion of their contribution to the bank.
3. It is headquartered in Shanghai, China.

1 and 2 only
2 and 3 only
3 only
1, 2 and 3

New Development Bank

• Egypt has joined as the fourth new member of BRICS New Development Bank.
• Earlier in September, Bangladesh, UAE, Uruguay joined New Development Bank as new members.
• Hence the 1^st statement is incorrect.

About the Bank

• At the fourth BRICS Summit in New Delhi (2012), the leaders of Brazil, Russia, India, China, and South Africa discussed setting up a New Development Bank to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, as well as in developing countries. 
• During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).
• The NDB is building a robust and diversified portfolio of sustainable infrastructure projects, to fulfill its mandate and achieve strategic objectives.
• In the New Development Bank, each participant country will be assigned one vote, and none of the countries will have veto power.
• Hence the second statement is incorrect.
• It is headquartered in Shanghai, China. 
• Hence the third statement is correct.

Question :

1. The act is act is implemented by the ministry of home affairs and any contribution above Rs. 25000 requires the approval of the ministry.
2. Under the Act, organizations receiving foreign funds are required to register themselves every ten years.

1 only
2 only
Both 1 and 2
Neither 1 nor 2

• Only statement 1 is correct.
• Foreign Contribution (Regulation) Act (FCRA), 2010 regulates foreign funding in India and the act is implemented by the ministry of home affairs.
• Individuals can accept foreign contributions up to Rs. 25000 without permission of the Ministry of Home Affairs.
• Under the Act, organizations are required to register themselves every five years and not ten years.

Question : Consider the following statements w.r.t. Sovereign Gold Bond Scheme 2021-22 (Series VII) that opened for subscription on 25^th October 2021.

1. The Gold Bonds are sold through Scheduled Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges.
2. It was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings
3. The bonds are restricted for sale to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.

Which of the above statements are correct?
1 and 2 only
1 and 3 only
2 and 3 only
1, 2, and 3

Sovereign Gold Bond Scheme 2021-22 (Series VII) 
Watch this Video: https://youtu.be/Sz5E76uQjLM

Question : Which of the following measures can help reduce the current account deficit?
1. Reduction of non-essential imports.
 2. Tight monetary policy
 3. Easing of FDI norms.

Select the correct answer using the code given below
1 and 2 only
3 only
1, 2 and 3
2 and 3 only

Current Account Deficit or CAD is the shortfall between the money flowing in on exports, and the money flowing out on imports. Current Account Deficit (or Surplus) measures the gap between the money received into and sent out of the country on the trade of goods and services and also the transfer of money from domestically-owned factors of production abroad.
To understand CAD in detail, it is essential to learn about the Current Account.
Current Account
A nation’s Current Account maintains a record of the country’s transactions with other nations, in terms of trade of goods and services, net earnings on overseas investments and net transfer of payments over a period of time, such as remittances. This account goes into a deficit when money sent outward exceeds that coming inward.
Difference between Current Account Deficit and Balance if Trade
Current Account Deficit is slightly different from Balance of Trade, which measures only the gap in earnings and expenditure on exports and imports of goods and services. Whereas, the current account also factors in the payments from domestic capital deployed overseas. For example, rental income from an Indian owning a house in the UK would be computed in Current Account, but not in Balance of Trade.
Measures to reduce the Current Account Deficit
Reduction of non-essential imports, Tight monetary policy and Easing of FDI norms all can be helpful in reducing Current Account Deficit.
 

Question : Which of the following is/are likely to result in the Current account surplus in the Balance of Payments (BoP)?
1. Increase in the remittances received from abroad.
2. Sale of bonds by Reserve Bank of India in the global market.
3. Fall in global oil prices.

Select the correct answer using following codes:
1 and 2 only
2 and 3 only
1 and 3 only
1, 2 and 3

Statement 1 is correct:  as the transfer payments which include the remittances, gifts and grants are the part of the capital account of the Balance of Payments. Any increase in them would likely lead to a surplus in the current account.
Statement 2 is not correct:  All the international purchases and sales of assets such as money, stocks, bonds etc. are recorded under the capital account.
Statement 3 is correct:  as fall in global oil prices will reduce imports which will increase the current account surplus.