Prelims 2020

11th September 2020 Daily Current Flash Cards

Arctic Council; Atal Mission for Rejuvenation and Urban Transformation (Amrut); Banks Board Bureau (BBB); Emergency Response Support System (ERSS); Currency exchange rate;
By IASToppers
September 11, 2020

 

 

 

How do exchange rates cause inflation?

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Solution:

  • When the exchange rate goes down such that the Indian currency become less valuable relative to foreign currency, foreign commodities and goods will become more expensive to Indian consumers causing potential inflation.

Enrich Your Learning:

Currency exchange rate:

  • An exchange rate is the value of one nation’s currency versus the currency of another nation or economic zone.
  • A currency’s exchange rate vis-a-vis another currency reflects the relative demand among the holders of the two currencies.
  • This demand, in turn, depends on the relative demand for the goods and services of the two countries.
  • If the US dollar is stronger than the rupee, then it shows that the demand for dollars (by those holding rupee) is more than the demand for rupees (by those holding dollars).
  • Most exchange rates are free-floating and will rise or fall based on supply and demand in the market.
  • Some currencies are not free-floating and have restrictions.

 

 

 

Which Indian state is the first state to launch Pan-India single emergency number ‘112’ under Emergency Response Support System?

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Solution:

  • Himachal Pradesh is the first state to launch Pan-India single emergency number ‘112’ under Emergency Response Support System.

Enrich Your Learning:

Emergency Response Support System (ERSS):

  • Emergency Response Support System is a Pan India single number ‘112’ based emergency response system for Indian citizens in emergencies.
  • People in these states and UTs can now call a single pan India number 112 for any emergency.
  • One can dial 112 or use Panic Button on their phones or 112 India Mobile App to connect to a single emergency services number 112 which will combine Police, Fire, Health and other helplines through an Emergency Response Centre in the State.
  • 112 is a globally recognized single emergency number, adopted by most of European countries, common wealth nations and mapped to emergency numbers in USA and Canada.
  • TRAI allotted this number for the purpose of single emergency number in India in May 2015.
  • To ensure safety of women, a SHOUT feature has been introduced in ‘112 India’ mobile app to seek immediate assistance from registered volunteers in the vicinity apart from the immediate assistance from Emergency Response Centre.

 

 

 

Which committee recommended the creation of Banks Board Bureau (BBB)?

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Solution:

  • J. Nayak Committee recommended the creation of Banks Board Bureau (BBB).

Enrich Your Learning:

About the Banks Board Bureau:

  • With a view to improve the Governance of Public Sector Banks (PSBs), the Government had decided to set up an autonomous Banks Board Bureau in August 2015.
  • The bureau was announced as part of the seven-point Indradhanush plan to revamp PSBs recommended by P.J. Nayak Committee.
  • BBB is an autonomous body.
  • The bureau will have three ex-officio members and three expert members, in addition to the Chairman. All the Members and Chairman will be part time.

Its functions:

  • The Bureau is mandated to play a critical role in reforming the troubled public sector banks by recommending appointments to leadership positions and boards in those banks and advise them on ways to raise funds and how to go ahead with mergers and acquisitions.
  • It will constantly engage with the boards of all 22 public sector banks to formulate appropriate strategies for their growth and development.
  • They will also constantly engage with the Board of Directors of all the public sector banks to formulate appropriate strategies for their growth and development.
  • The bureau will search and select heads of public sector banks and help them develop differentiated strategies of capital raising plans to innovative financial methods and instruments.
  • It would also be responsible for selection of non-executive chairman and non-official directors on the boards.

 

 

 

India is a member of Arctic Council. True OR False.

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Solution: False

Correct statement:

  • India is not members in Arctic Council.

Enrich Your Learning:

Arctic Council:

  • The Arctic Council is an advisory body that promotes cooperation among member nations and indigenous groups.
  • Its focus is on sustainable development and environmental protection of the Arctic. It does not make policy or allocate resources, and its decisions must be unanimous.
  • In terms of being a reflection of a nation’s priorities, it can only go so far since all eight have to agree to the same thing.
  • Eight member countries constitute the council: Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden, and the United States as these are the eight countries with sovereignty over the lands within the Arctic Circle.
  • Observer status is open to non-Arctic states approved by the Council at the Ministerial Meetings that occur once every two years.
  • Observers have no voting rights in the Council. Presently, there are 12 observer states including India and China.

 

 

 

Atal Mission for Rejuvenation and Urban Transformation (Amrut) is Centrally Sponsored Scheme. True OR False.

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Solution: True.

Enrich Your Learning:

Atal Mission for Rejuvenation and Urban Transformation (Amrut):

  • AMRUT, Centrally Sponsored Scheme, was launched in 2015 for the transformation of 500 cities and towns into efficient urban living spaces.
  • The total outlay for AMRUT is INR 50,000 crorefor five years from 2015-16 to 2019-20. Almost 50% of the total mission outlay has been allocated to water supply sector.

Objective:

  • To ensure that every household has access to a tap with assured supply of water and a sewerage connection
  • To increase the amenity value of cities by developing greenery
  • To reduce pollution by switching to public transport or constructing facilities for non-motorized transport e.g. walking and cycling

The Mission has 5 Thrust Areas:

  • Water Supply
  • Sewerage and septage management
  • Storm Water Drainage to reduce flooding
  • Non-motorized Urban Transport
  • Green space/parks

Selection Criteria for AMRUT:

  • All cities and towns with a population of over one lakh with notified Municipalities, including Cantonment Boards (Civilian areas)
  • All capital cities/towns of states/ UTs, not covered in the above mentioned category
  • All cities/ towns classified as heritage cities under the HRIDAY Scheme
  • 13cities and towns on the stem of the main rivers with a population above 75,000 and less than 1 lakh
  • 10 Cities from hill states, islands and tourist destinations (not more than one from each State).

Smart Cities Mission and AMRUT:

  • The two missions that were simultaneously launched – Smart Cities Mission and AMRUT are interlinked.
  • AMRUT adopts a project approach to ensure basic infrastructure services in 500 cities and towns.
  • Smart Cities Mission adopts an area based approach in 100 cities with focus on core infrastructure services like: Adequate and clean Water supply, Sanitation and Solid Waste Management etc.
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Daily Current Flash Cards 2020 Prelims 2020
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