28th June 2021 Current Affairs Quiz
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28th June 2021 Current Affairs Quiz for UPSC Prelims
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- Question 1 of 5
1. Question
Which of the following statements regarding FATF are correct?
1. The FATF is an UN organization to combat Money Laundering and Terror Financing.
2. FATF is the initiative of the G20 to develop policies to combat money laundering.
3. The FATF headquaters is in Geneva Switzerland.Select the correct answer using the code below.
a) Only 1
b) Only 2 and 3
c) Only 1 and 3
d) None of the aboveCorrectAns;- d) None of the above
Financial Action Task Force (FATF)
• The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.
• In 2001, its mandate was expanded to include terrorism financing.
• FATF is a “policy-making body” that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
• FATF monitors progress in implementing its Recommendations through “peer reviews” (“mutual evaluations”) of member countries.
• Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”).
• The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.IncorrectAns;- d) None of the above
Financial Action Task Force (FATF)
• The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.
• In 2001, its mandate was expanded to include terrorism financing.
• FATF is a “policy-making body” that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
• FATF monitors progress in implementing its Recommendations through “peer reviews” (“mutual evaluations”) of member countries.
• Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”).
• The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. - Question 2 of 5
2. Question
Tax Inspectors Without Borders (TIWB), a joint initiative of
CorrectAnswer: A
About TIWB
• The TIWB Programme is a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD).
• The objective of the TIWB Initiative is to enable sharing of tax audit knowledge and skills with tax administrations in developing countries through a targeted, real time “learning by doing” approach.
• TIWB is focused on promoting hands-on assistance by sending Experts to build audit and audit-related skills pertaining to specific international tax matters and the development of general audit skills within developing tax administrations.IncorrectAnswer: A
About TIWB
• The TIWB Programme is a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD).
• The objective of the TIWB Initiative is to enable sharing of tax audit knowledge and skills with tax administrations in developing countries through a targeted, real time “learning by doing” approach.
• TIWB is focused on promoting hands-on assistance by sending Experts to build audit and audit-related skills pertaining to specific international tax matters and the development of general audit skills within developing tax administrations. - Question 3 of 5
3. Question
Which of the following chemical elements is the largest constituent of the Earth’s crust?
CorrectAnswer: D
IncorrectAnswer: D
- Question 4 of 5
4. Question
Which of the following statements about Border Area Development Programme (BADP) are true?
1. The Border Area Development Programme (BADP) was launched by the Ministry of Defence as part of a comprehensive approach to Border Management.
2. It is a centrally sponsored scheme.Select the correct answer using the code below.
CorrectAnswer: B
India’s Border Area Development Programme (BADP)
• The Border Area Development Programme (BADP) was launched by the Ministry of Home Affairs in 1986-87 as part of a comprehensive approach to Border Management.
• BADP was initiated in the border areas of the western region during the Seventh Five Year Plan (1985-90), for ensuring balanced development of border areas through development of infrastructure and promotion of a sense of security among the border population.
• It is a centrally sponsored scheme. Funds are provided to the states as a non-lapsable special central assistance for the execution of projects relating to infrastructure, livelihood, education, health, agriculture and allied sectors.
• The States covered are Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and West Bengal.IncorrectAnswer: B
India’s Border Area Development Programme (BADP)
• The Border Area Development Programme (BADP) was launched by the Ministry of Home Affairs in 1986-87 as part of a comprehensive approach to Border Management.
• BADP was initiated in the border areas of the western region during the Seventh Five Year Plan (1985-90), for ensuring balanced development of border areas through development of infrastructure and promotion of a sense of security among the border population.
• It is a centrally sponsored scheme. Funds are provided to the states as a non-lapsable special central assistance for the execution of projects relating to infrastructure, livelihood, education, health, agriculture and allied sectors.
• The States covered are Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and West Bengal. - Question 5 of 5
5. Question
Which of the following statements about Gujarat International Maritime Arbitration Centre are true?
1. GIMAC will be the first centre of its kind in the country that will manage arbitration and mediation proceedings with disputes related to the maritime and shipping sector.
2. The GIMAC will facilitate faster dispute resolution while improving the attractiveness of GIFT Special Economic Zone (SEZ) and the ease of doing business.Select the correct answer using the code below.
CorrectAns;-C
About GIMAC
• Gujarat International Maritime Arbitration Centre (GIMAC) will be the first centre of its kind in the country that will manage arbitration and mediation proceedings with disputes related to the maritime and shipping sector.
• The idea is to create a world-class arbitration centre focused on maritime and shipping disputes that can help resolve commercial and financial conflicts between entities having operations in India.
• The GIMAC will be part of a maritime cluster that the Gujarat Maritime Board (GMB) is setting up in GIFT City at Gandhinagar.
• There are over 35 arbitral institutions in India, however, none focus exclusively on the disputes related to the maritime sector, hence the GIMAC will help in this regard with Gujrat continuing to witness a rapid extension in maritime activities and inching closer to becoming a global maritime hub with the implementation of Gujarat Maritime Cluster project.
• The GIMAC will facilitate faster dispute resolution while improving the attractiveness of GIFT Special Economic Zone (SEZ) and the ease of doing business.IncorrectAns;-C
About GIMAC
• Gujarat International Maritime Arbitration Centre (GIMAC) will be the first centre of its kind in the country that will manage arbitration and mediation proceedings with disputes related to the maritime and shipping sector.
• The idea is to create a world-class arbitration centre focused on maritime and shipping disputes that can help resolve commercial and financial conflicts between entities having operations in India.
• The GIMAC will be part of a maritime cluster that the Gujarat Maritime Board (GMB) is setting up in GIFT City at Gandhinagar.
• There are over 35 arbitral institutions in India, however, none focus exclusively on the disputes related to the maritime sector, hence the GIMAC will help in this regard with Gujrat continuing to witness a rapid extension in maritime activities and inching closer to becoming a global maritime hub with the implementation of Gujarat Maritime Cluster project.
• The GIMAC will facilitate faster dispute resolution while improving the attractiveness of GIFT Special Economic Zone (SEZ) and the ease of doing business.
