1. Consider following statements about, the Nipah Virus:
1. It is a Zoonotic virus
2. World’s first case of Nipah virus was reported from Kerala in 2010
Select the correct answer using the code given below.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Explanation: Option (a) is correct
Nipah virus (NiV) is a zoonotic virus (it is transmitted from animals to humans) and can also be transmitted through contaminated food or directly between people. In infected people, it causes a range of illnesses from asymptomatic (subclinical) infection to acute respiratory illness and fatal encephalitis. The virus can also cause severe disease in animals such as pigs, resulting in significant economic losses for farmers.  
The first outbreaks of the Nipah virus among humans was reported from Malaysia (1998) and Singapore (1999). The virus takes its name from the village in Malaysia where the person in whom the virus was first isolated died of the disease. In India, West Bengal had seen an outbreak in 2001 and 2007, while Kerala had reported several cases in 2018.

Statement 1 is correct:
Nipah virus (NiV) is a zoonotic virus (it is transmitted from animals to humans).
Statement 2 is incorrect:
The first outbreaks of the Nipah virus among humans was reported from Malaysia (1998) and Singapore (1999).
Source: https://www.thehindu.com/news/national/kerala/nipah-antibodies-found-in-bat-samples-in-kozhikode/article36739646.ece
https://www.who.int/news-room/fact-sheets/detail/nipah-virus

2. Consider following statements about the National Asset Reconstruction Company Ltd. (NARCL):
1. NARCL intends to acquire stressed assets of about Rs. 1000 Lakh crore in phases
2. Capitalization of NARCL would be only through equity from banks and Non-Banking Financial Companies (NBFCs) and NARCL cannot raise debt
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Explanation: Option (d) is correct
The Government of India has approved a ₹30,600-crore backstop facility for guaranteeing securities to be issued by the National Asset Reconstruction Company Ltd. (NARCL), the so-called ‘bad bank’ that is being set up to help aggregate and consolidate lenders’ non-performing assets (NPAs) or bad loans.
NARCL has been incorporated under the Companies Act and has applied to Reserve Bank of India for license as an Asset Reconstruction Company (ARC). NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. PSBs will maintain 51% ownership in NARCL.
Central Government has approved guarantee of Rs. 30,600 crore to back Security Receipts issued by National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets.
NARCL is intended to resolve stressed loan assets above ₹500 crore each amounting to about ₹ 2 lakh crore. In phase I, fully provisioned assets of about Rs. 90,000 crores are expected to be transferred to NARCL, while the remaining assets with lower provisions would be transferred in phase II.
Capitalization of NARCL would be through equity from banks and Non-Banking Financial Companies (NBFCs). it will also raise debt as required.
Statement 1 is incorrect:
NARCL is intended to resolve stressed loan assets about ₹ 2 lakh crore.
Statement 2 is incorrect:
Capitalization of NARCL would be through equity from banks and Non-Banking Financial Companies (NBFCs) and NARCL can raise debt as required.
 Source: https://epaper.thehindu.com/Home/ShareImage?Pictureid=GBR91HA5A.1
https://www.thehindu.com/business/Economy/explained-what-is-the-need-for-a-bad-bank/article36544241.ece
https://pib.gov.in/PressReleseDetailm.aspx?PRID=1755466

3. With reference to the Defence Acquisitions Council (DAC), which of the following statements is/are correct?
1. DAC is Chaired by Prime Minister of India
2. DAC gives ‘in principle’ approval to Capital acquisitions in the Long Term Perspective Plan (LTPP)
3. It monitors the progress of major projects on a feedback from the Defence Procurement Board
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Explanation: Option (b) is correct
Defence Acquisitions Council (DAC) is chaired by Defence Minister.
Following are the major functions of DAC:
(a) Give ‘in principle’ approval to Capital acquisitions in the Long Term Perspective Plan (LTPP) covering a 15-year time span at the beginning of a Five Year Plan period.
(b) Give ‘in principle’ acceptance of necessity to each Capital acquisition project for incorporation in the forthcoming Five Year Plan, at least nine months before the commencement of the first year of that plan. The approval will involve the identification of Either - ‘Buy’ Projects (outright purchase) Or - ‘Buy and Make’ projects (purchase followed by licensed production/ indigenous development) Or - ‘Make’ Projects (indigenous production and R&D)
(c) Monitor the progress of major projects on a feedback from the Defence Procurement Board.
Statement 1 is incorrect:
Defence Acquisitions Council (DAC) is chaired by Defence Minister
Statement 2 is correct:
DAC gives ‘in principle’ approval to Capital acquisitions in the Long Term Perspective Plan (LTPP)
Statement 3 is correct:
DAC monitors the progress of major projects on a feedback from the Defence Procurement Board

Source: https://www.thehindu.com/news/national/army-to-get-25-advanced-light-helicopters-at-3850-crore/article36738883.ece
https://www.mod.gov.in/dod/sites/default/files/DEFENCE_PROCUREMENT_ORGANISATION.pdf

4. With reference to the PM POSHAN scheme, which of the following statements is/are correct?
1. Under the proposed scheme, children from pre-primary classes to class 8 will be served hot cooked food
2. PM POSHAN proposes hike of 5% in the honorarium of cooks and workers and makes it mandatory for states to implement the same
3. Social Audit of the scheme is made mandatory in all the districts.
Select the correct answer using the code given below
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Explanation: Option (c) is correct
Recently Cabinet Committee on Economic Affairs (CCEA) cleared the PM POSHAN Scheme for providing one hot cooked meal in Government and Government-aided schools from 2021-22 to 2025-26. This is a Centrally-Sponsored Scheme which covers all school children studying in Classes I-VIII of Government, Government-Aided Schools. The earlier name of the scheme was ‘National Scheme for Mid Day Meal in Schools’ popularly known as Mid Day Meal Scheme. The National Education Policy (NEP) has also recommended that pre-school education should be formalised. This is a step towards that. Also, it will help prevent leakages and bring more transparency. We will become more hands on and nudge states to pay schools through the direct benefit transfer (DBT) mode.
 Salient provisions of the proposed scheme are as below:
i)      The scheme is proposed to be extended to students studying in pre-primary or Bal Vatikas of Government and Government-aided primary schools.
ii)   The concept of TithiBhojan will be encouraged extensively. TithiBhojan is a community participation programme in which people provide special food to children on special occasions/festivals.
iii) Government is promoting development of School Nutrition Gardens in schools to give children first hand experience with nature and gardening. The harvest of these gardens is used in the scheme providing additional micro nutrients. School Nutrition Gardens have already been developed in more than 3 lakh schools.
iv) Social Audit of the scheme is made mandatory in all the districts.
v)  Special provision is made for providing supplementary nutrition items to children in aspirational districts and districts with high prevalence of Anaemia.
vi) Vocal for Local for Atmanirbhar Bharat: Involvement of Farmers Producer Organizations (FPO) and Women Self Help Groups in implementation of the scheme will be encouraged. Use of locally grown traditional food items for a fillip to local economic growth will be encouraged.
viii.)  Field visits for progress monitoring and inspections will be facilitated for students of eminent Universities / Institutions and also trainee teachers of Regional Institutes of Educations (RIE) and District Institutes of Education and Training (DIET)
Statement 1 is correct:
Under the proposed scheme, children from pre-primary classes to class 8 will be served hot cooked food
Statement 2 is incorrect:
PM POSHAN does not propose any hike in the honorarium of cooks and workers but states are given freedom to increase the same.
Statement 3 is correct:
Social Audit of the scheme is made mandatory in all the districts
Source: https://www.thehindu.com/news/national/centre-extends-mid-day-meal-scheme-to-24-lakh-pre-primary-students/article36739905.ece
https://www.pib.gov.in/PressReleasePage.aspx?PRID=1759255

5. With reference to the Prompt Corrective Action (PCA) Framework, which of the following statements is/are correct?
1. The PCA framework is applicable only to commercial banks and not extended to Non-banking financial companies (NBFCs)
2. Net non-performing assets (NPA) is the only parameter used for regulatory trigger point to put Banks under prompt corrective action (PCA) Framework
3. PCA is intended to help alert the regulator as well as investors and depositors
Select the correct answer using the code given below
(a) 1 and 2 only
(b) 1 only
(c) 3 only
(d) 1 and 3 only
Explanation: Option (d) is correct
Prompt Corrective Action or PCA is a framework under which banks with weak financial metrics are put under watch by the RBI. The PCA framework deems banks as risky if they slip below certain norms on three parameters i.e. capital to risk weighted assets ratio (CRAR), net non-performing assets (NPA) and Return on Assets (RoA), for initiation of certain structured and discretionary actions in respect of banks hitting such trigger points.
The PCA framework prescribes five levels of trigger points based on capital measures, i.e. total risk-based capital ratio, Tier 1 risk-based capital ratio, and leverage ratio, for insured state-chartered non-member banks. The five PCA categories are (i) well capitalized, (ii) adequately capitalized, (iii) undercapitalized, (iv) significantly undercapitalized, and (v) critically undercapitalized.

The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs) and FMIs.
As most bank activities are funded by deposits which need to be repaid, it is imperative that a bank carries a sufficient amount of capital to continue its activities. PCA is intended to help alert the regulator as well as investors and depositors if a bank is heading for trouble. The idea is to head off problems before they attain crisis proportions. Essentially PCA helps RBI monitor key performance indicators of banks, and taking corrective measures, to restore the financial health of a bank.
Statement 1 is correct:
The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs) and FMIs.
Statement 2 is incorrect:
The PCA framework deems banks as risky if they slip below certain norms on three parameters — capital ratios, asset quality and profitability.
Statement 3 is correct:
As most bank activities are funded by deposits which need to be repaid, it is imperative that a bank carries a sufficient amount of capital to continue its activities. PCA is intended to help alert the regulator as well as investors and depositors if a bank is heading for trouble.
Source: https://epaper.thehindu.com/Home/ShareArticle?OrgId=GO691I4RH.1&imageview=0
https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about/article25656136.ece
https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/PCAFR060514_4.pdf