Dec 30th, 2021 - Daily Quiz
1. With reference to the National Commodities and Derivatives Exchange (NCDEX) , consider the following statements:
1. It is an online commodities exchange dealing primarily in agricultural commodities in India.
2. It is a private limited company under the Companies Act, 1956.
Which of the statements given above is/are correct?
(a) 2 only
(b) 1 only
(c) 1 & 2
(d) Neither 1 Nor 2
2. With reference to ‘Red Fort’ , consider the following statements:
1. Humayun laid the foundation stone of the Red Fort.
2. It is the fusion of the Timurids and the Persians architectural styles.
3. Ustad Ahmad Lahauri was the architect of the Red Fort.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
3. ‘Kodavali Buddhist site’ is in
(a) Kerala
(b) Tamil Nadu
(c) Telangana
(d) Andhra Pradesh
4. Which of the following are listed as offences in the Fugitive Economic Offenders Act, 2018?
1. Counterfeiting government stamps or currency
2. Cheque dishonour
3. Money laundering
4. Transactions defrauding creditors.
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 only
(d) 1, 2, 3 and 4
5. Which of the following countries are not members of BIMSTEC?
1. China
2. Indonesia
3. Thailand
4. Nepal
(a) 1 and 2 only
(b) 3 and 4 only
(c) 1 only
(d) 1, 2, 3 and 4
Answers
1. (b)
National Commodities and Derivatives Exchange
● NCDEX is an online commodities exchange dealing primarily in agricultural commodities in India.
● It is a public limited company, established on 23 April 2003 under the Companies Act, 1956.
● The exchange was founded by some of India's leading financial institutions such as ICICI Bank Limited, the National Stock Exchange of India and the National Bank for Agricultural and Rural Development, among others.
● NCDEX is located in Mumbai but has offices across the country to facilitate trade. Trading is done on 27 commodity contracts as of March 2018. These include 25 contracts for agricultural products. NCDEX is run by an independent board of directors with no direct interest in agriculture.
https://www.thehindu.com/business/markets/sebi-suspends-futures-trading-in-key-farm-crops/article37999345.ece
2.(c)
● The Mughal emperor, Shah Jahan laid the foundation stone of the Red Fort in 1618 and held its inauguration in 1647.
● Red fort is the fusion of the Timurids and the Persians architectural styles.
● Ustad Ahmad Lahauri was the architect of the Red Fort.
● Indo-Islamic and Mughal architectural styles are present in the Red Fort Complex.
● It is on the list of UNESCO World Heritage sites.
● It is situated on the Banks of River Yamuna.
https://www.thehindu.com/news/cities/Delhi/delhi-hc-rejects-plea-seeking-possession-of-red-fort/article38000999.ece
3.(d)
● Kodavali Buddhist site comes from the golden era of Buddhism in coastal Andhra Pradesh. Hence option (d) is correct.
● The three centuries preceding and after CE witnessed a phenomenal rise and growth of Buddhist institutions in Andhra Pradesh.
● Kodavali is one of the 50 sites so far discovered in the erstwhile Andhra Pradesh.
● Historian Robert Sewell and archaeologist Alexander Rea are credited with discovering the site at Kodavali in the 1880s where the first Buddhist rock edict in Brahmi script was also found.
● The inscription has a reference to a local king called Chandasati who offered gifts to the monastery and constructed wells for the monks.
● The inscription can be dated to the 2nd Century CE. Some claim the site came into existence between the 3rd and 2nd centuries BC.
https://www.thehindu.com/news/national/andhra-pradesh/stop-mining-near-buddhist-site-asi-urges-state-govt/article38000655.ece
4.(d)
Fugitive Economic Offenders Act, 2018:
● It seeks to confiscate properties of economic offenders who have left the country to avoid facing criminal prosecution or refuse to return to the country to face prosecution.
● Fugitive Economic Offender (FEO) is a person against whom an arrest warrant has been issued for committing an offence listed in the Act and the value of the offence is at least Rs. 100 crore.
● Some of the offences listed in the act are:
○ Counterfeiting government stamps or currency.
○ Cheque dishonour
○ Money laundering
○ Transactions defrauding creditors.
https://www.thehindu.com/news/national/13109-cr-recovered-from-economic-fugitives-finmin/article37998911.ece
5.(a)
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)
Out of the 7 members,
● Five are from South Asia –
○ Bangladesh
○ Bhutan
○ India
○ Nepal
○ Sri Lanka
● Two are from Southeast Asia –
○ Myanmar
○ Thailand
https://www.thehindu.com/todays-paper/tp-national/bimstec-working-on-joint-disaster-relief-plans/article38001276.ece
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