Flash Cards

Day#17 Current Affairs Flash Cards [PRELIMS 2020]

Achanakmar-Amarkantak Biosphere Reserve; Nidhi Company; Housing Finance Companies; ‘Aruna Sundararajan Committee’; ‘International Security Alliance’ (ISA); Shtrum Ataka;
By IASToppers
August 13, 2019

 

 

Achanakmar-Amarkantak Biosphere Reserve is spread over which two states of India?

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Answer:

The Achanakmar-Amarkantak Biosphere Reserve is the most dramatic and ecologically diverse landscape in the Chhattisgarh and Madhya Pradesh states of India.

Enrich Your Learning:

Achanakmar-Amarkantak Biosphere Reserve

  • It was declared as Biosphere reserve in 2005. This is a 14th BR of the country and 2nd BR of Madhya Pradesh and 1st BR of Chhattisgarh.
  • The protected area of the Achanakmar Wildlife Sanctuary is located in the Bilaspur district within the Biosphere Reserve.
  • The Biosphere reserve has been divided into core and buffer zones. It is spread from Maikal hill ranges to the junction of Vindhyan and Satpura hill ranges in a triangular shape.
  • The present BR encompasses a variety of ecosystem like sal forest, mixed forest, degraded forest and agro-forestry ecosystems.
  • The drainage system of BR consists of three major rivers originating from the buffer zone, viz. the Narmada river; the Johilla river and the Sone river.
  • The Biosphere Reserve is home of 67 threatened faunal species as per IUCN 2001 categorization like Four horned antelope, Indian wild dog, Saras crane, Asian white-backed vulture, Sacred grove bush frog.
  • The geology of the area is unique and varied from schists and gneisses with granite intrusions, to sand stones, shales, limestone, basaltic lava and bauxite.
  • There are also twenty-seven tribal and non-tribal communities inhabit in the BR.
  • They produce bamboo handicraft and non-timber products in the buffer zone and transition areas.

 

 

The term ‘Shtrum Ataka’ was recently appeared in news. What is it?

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Answer:

Shtrum Ataka is a long-range anti-tank guided missile system.

Enrich Your Learning:

About ‘Shtrum Ataka’

  • Ataka is a long-range anti-tank guided missile system. It was developed in the 1980s in the Soviet Union.
  • It is the next major generation in the 9K114 Shturm (AT-6 Spiral) family.
  • Launchers with Ataka missiles can be mounted on helicopters, vehicles and watercraft.
  • The missile has radio command guidance and is also a Beam riding SACLOS (Semi-automatic command to line of sight).
  • It is stored in a glass reinforced plastic tube, which also acts as its launcher.

Why in news?

  • Recently, Indian Air Force is set to get ‘Strum Ataka’ anti-tank missile from Russia.
  • To keep itself battle-ready in situations and to equip its existing fleet of Mi-35 attack choppers with more lethal weapons under the emergency provisions India bought ‘Strum Ataka’.
  • Under the emergency provisions, equipment has to be bought and ready for deployment in three months.

About ‘Shtrum Ataka’

 

 

Who are the member countries of ‘International Security Alliance’ (ISA)?

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Answer:

  • Member countries of ISA are UAE, France, Italy, Spain, Senegal, Bahrain, Slovakia and Morocco. Recently, Singapore joined the alliance.

Enrich Your Learning:

‘International Security Alliance’ (ISA)

  • It is an international collaboration of Ministries of Interior and includes working groups working together to combat organized and transnational crime.
  • The Alliance was launched in February 2017.
  • The Alliance has structured its foundation on progressive global tenets to combat crimes within its remit.
  • The Alliance Secretariat is located in Abu Dhabi, UAE.
  • It promotes internal security cooperation among its member ministers, in particular with regards to the following strategic priorities:
    • Preventing and combating transnational organized crime
    • Preventing and combating forms of radicalisation and violent extremism
    • The management of borders
  • The United Arab Emirates (UAE) and the French Republic have resolved to join forces in order to mitigate the risk of challenge by alliance of 8 countries:
    • United Arab Emirates
    • French Republic
    • Kingdom of Bahrain
    • Kingdom of Morocco
    • Italian Republic
    • Republic of Senegal
    • Republic of Singapore
    • Kingdom of Spain

Objective:

  • To protect the safety of communities and the prosperity of countries by combating organized and transnational crimes.

 

 

‘Aruna Sundararajan Committee’ was set up to look into which issue?

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Answer:

‘Aruna Sundararajan Committee’ was set up to look into the entire issue of rationalisation of levies of telecom operators.

Enrich Your Learning:

‘Aruna Sundararajan Committee’

  • The committee was set up by Telecom minister under department of telecommunications secretary Aruna Sundararajan.
  • The committee is set to look into the entire issue of rationalisation of levies of telecom operators and submit a report.
  • It will also give report on spectrum usage charge (SUC), and issue of removing ambiguities in ease of doing business.

Background:

  • The government has recognised that telecom operators are under financial stress and need support in the form of rationalisation of various levies, like licence fee and spectrum usage charge.
  • The industry has for long been demanding lower taxes and levies, which add up to about 30% of their revenues.
  • The Telecom Regulatory Authority of India (TRAI) has also recommended lowering of certain levies by way of providing financial relief to the operators.
  • TRAI recommended to fix a flat spectrum usage charge for operators at 3% of their adjusted gross revenue.

 

 

Housing Finance Company and Nidhi Company both can carry the business related to chit fund, hire purchase finance and leasing finance. True or False?

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Answer:

False.

Housing Finance Company is a form of non-banking financial company and that’s why it is able to carry business related to chit fund, hire purchase finance and leasing finance. While Nidhi Company is restricted to carry such businesses.

Enrich Your Learning:

Housing Finance Companies

  • Housing Finance Company is a form of non-banking financial company which is engaged in the principal business of financing of acquisition or construction of houses.
  • It includes the development of plots of lands for the construction of new houses.
  • The company is engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority.
  • Housing Finance Companies are regulated by the National Housing Bank.

Criteria:

  • Any non-banking finance company can operate as a housing finance company, subject to the fulfilment of basic requirements as specified in the Companies Act, 1956.
  • Basic requirements:
    • Primary business should be of providing finance for housing (directly or indirectly).
    • Should obtain a certificate of registration (COR) from the National Housing Bank (NHB). Without a COR, NHB can demand the winding up of such company.
    • Should have minimum Net Owned Fund of Rs 10 Crore.

Nidhi Companies

  • Section 406 of the Companies Act 2013 govern Nidhi Companies.
  • It belongs to the nonbanking Indian finance sector. Their main business is to borrow money or lend money to its members.
  • Nidhi Companies are regulated by Ministry of Corporate Affairs, Government of India and Reserve Bank of India Reserve Bank of India is empowered to give directions regarding the matters related to acceptance of deposits.
  • Nidhi Companies have restrictions for Chit Fund, Hire Purchase Finance, Leasing Finance.
  • It cannot open a current account with its members. Also issuance of advertisement for deposits and brokerage for granting a loan to its members are not allowed to Nidhi companies.

Objectives:

  • To cultivate the habit of savings among its members.
  • To receive or lend deposits to its members for their mutual benefit.

Criteria:

  • A public company under the Companies Act 2013.
  • Must have a minimum equity share capital of 5,00,000.
  • No issuance of preference shares. Previous shares shall be redeemed as per the terms of the issue of such shares.
  • Its name must have Nidhi Limited.
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