Consider the following Statements regardingSecured Overnight Financing RateIt is used for long-term borrowing of cash in the US Treasury repo markets.It is a benchmark interest rate for dollar-denominated derivatives and loans that is replacing the London interbank offered rateWhich of the statement(s) given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

Answer: (b) 2 only

Explanation:

In NEWS: Banks in India ready for transition, but the world still loves Libor

Banks in India are ready to delink their foreign-exchange loans from London Interbank Offered Rate (Libor) to an alternative reference rate, but the international markets are still happily continuing with the old benchmark. The Libor era comes to an end in 2021, and banks across the globe will have to shift to an alternative rate.

Secured Overnight Financing Rate (SOFR) and Sterling Overnight Interbank Average Rate (SONIA) are the two popular alternatives, but internationally, only a few swap deals are linked to them.

State Bank of India (SBI) has executed two inter-bank short term money market deals with pricing linked to SOFR (Secured Overnight Financing Rate).

About Secured Overnight Financing Rate

SOFR is a measure of the cost of borrowing cash (short term ) on an overnight basis in the US Treasury repo markets

SOFR was selected by the Alternative Reference Rates Committee (ARRC) chaired by the New York Federal Reserve in 2017. . Hence statement 1 is correct

It is a benchmark interest rate for dollar-denominated derivatives and loans.

It is based on transactions in the Treasury repurchase market. Hence statement 2 is correct

Similar to a mortgage rate, SOFR is a secured borrowing rate in the sense that collateral is provided to borrow cash.

It is seen as preferable to London interbank offered rate (LIBOR) since it is based on data from observable transactions rather than on estimated borrowing rates.

Source: BS, TH


Consider the following Statements regardingProtection of Children from Sexual Offences (POCSO) Act, 2012

The Act defines a child as any person below eighteen years of age

People who traffic children for sexual purposes are also punishable under the act.

All sexual offences under the POCSO Act have minimum sentence except offence of sexual harassment.

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

  1. 1 and 3 only
  2. 2 and 3 only
  3. 1 and 2 only
  4. 1,2 and 3

Answer: (d) 1,2 and 3

Explanation:

In NEWS: Explained: In Bombay HC verdict on sexual assault, the issue of mandatory minimum sentencing

What is a mandatory minimum sentence?

What are the criticisms of mandatory sentencing?

About Protection of Children from Sexual Offences (POCSO) Act, 2012

Source: https://indianexpress.com/article/explained/in-bombay-high-court-verdict-on-sexual-assault-the-issue-of-mandatory-minimum-sentencing-7162861/


Consider the following Statements regardingInternational Energy Agency

It has 30 member nations and only OECD nations are given membership to the IEA

It is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development

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

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer: (c) Both 1 and 2

Explanation:

In NEWS: India signs framework for Strategic Partnership with International Energy Agency members to enhance global energy security

About International Energy Agency

Source: http://newsonair.com/News?title=India-signs-framework-for-Strategic-Partnership-with-International-Energy-Agency-members-to-enhance-global-energy-security&id=408738


Consider the following Statements regardingPermanent Court of Arbitration

India is a party of the PCA

It is not a court and does not have permanent judges.

It was the first permanent intergovernmental organization that provided a forum for the resolution of international disputes through arbitration and other peaceful means.

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

  1. 3 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1,2 and 3

Answer: (d) 1,2 and 3

Explanation:

In NEWS: Cairn threatens Indian asset seizures abroad in tax case

About Permanent Court of Arbitration

Source: https://www.thehindu.com/business/Industry/cairn-threatens-indian-asset-seizures-abroad-in-tax-case/article33669711.ece


Consider the following Statements regardingManufactured sand

It is a substitute of river sand for concrete construction.

It is produced from hard granite stone by crushing.

It does not contain organic and soluble compounds

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

  1. 1 only
  2. 2 and 3 only
  3. 3 only
  4. 1,2 and 3

Answer: (d) 1, 2 and 3

Explanation:

In NEWS: Gehlot govt. brings M-sand policy for construction works

About manufactured sand

Source: https://www.thehindu.com/news/national/other-states/gehlot-govt-brings-m-sand-policy-for-construction-works/article33670743.ece


Consider the following Statements regardingWildlife Crime Control Bureau

It is a statutory multi-disciplinary body established under the Ministry of Environment and Forests

Under the Wild Life (Protection) Act 1972, it is mandated to collect intelligence related to organized wildlife crime activities.

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

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer: (c) Both 1 and 2

Explanation:

In NEWS: Elephant calf rescued from dug well in West Bengal

Wildlife Crime Control Bureau(WCCB) and Barasat Forest Range have rescued a live pangolin in Kolkata.

About Wildlife Crime Control Bureau

Source: https://www.thehindu.com/news/cities/kolkata/elephant-calf-rescued-from-dug-well-in-west-bengal/article33666949.ece


Consider the following Statements regardingBio coal

It is a new carbon neutral solid biofuel made from organic waste.

It is produced by processing dry biomass under the oxygen-free conditions at high temperatures

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

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer: (c) Both 1 and 2

Explanation:

Source: ANI


Sigur Plateau , which was in news recently is located in

1)Nagaland

2)Tamil Nadu

3)Punjab

4)Jammu and Kashmir

Answer: (b) Tamil Nadu

Explanation:

In NEWS: Conservationist joins SC panel on elephant corridor case

Source: https://www.thehindu.com/news/national/conservationist-joins-sc-panel-on-elephant-corridor-case/article33678554.ece


Consider the following Statements

It is a statutory body to ensure quality of all textiles and textile products for domestic and export markets.

The Chairman of this Committee is Textile Minister

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

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer: (a) 1 only

Explanation:

In NEWS: Textiles Committee of Ministry of Textiles signs MoU with Nissenken Quality Evaluation Centre, Japan

About Textiles Committee

Source: http://newsonair.com/Main-News-Details.aspx?id=408746


A decrease in tax to GDP ratio of a country indicates which of the following?

Slowing economic growth rate

Less equitable distribution of national income

Select the correct answer using the codes given below.

  1. 1 only
  2. 2 only
  3. Both 1and 2
  4. Neither 1 nor 2

Answer: (d) Neither 1 nor 2

Explanation: