Q1. Which of the following statements is/are correct?

  1. A non-performing asset (NPA) is a classification used by financial institutions for loans and advances on which the principal is past due and on which no interest paymentshave been made for a period of time. 
  2. Standard assets are NPAs that have been past due for anywhere from 90 days to 12 months, with a normal risk level.

 Select the correct answer using the codes given below:

 (a) 1 only           

(b) 2 only

 (c) Both 1 and 2       

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct. A non-performing asset (NPA) is a classification used by financial institutions for loans and advances on which the principal is past due and on which no interest payments have been made for a period of time. Standard assets are NPAs that have been past due for anywhere from 90 days to 12 months, with a normal risk level.    

https://corporatefinanceinstitute.com/resources/knowledge/finance/non-performing-asset/#:~:text=A%20non%2Dperforming%20asset%20(NPA,of%20interest%20expense%20that%20has

Q2. Consider the following statements regarding the Limited Liability Partnership, sometimes seen in the news:

  1. These are a flexible legal and tax entity that allows partners to benefit from economies of scaleby working together while also reducing their liability for the actions of other partners. 
  2. Limited liability means that if the partnership fails, creditors can go after a partner's personal assets or income.

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

Option A is correct.

Statement 1 is correct. These are a flexible legal and tax entity that allows partners to benefit from economies of scale by working together while also reducing their liability for the actions of other partners.       

 Statement 2 is incorrect. Limited liability means that if the partnership fails, creditors cannot go after a partner's personal assets or income.

https://www.investopedia.com/articles/investing/090214/limited-liability-partnership-llp-basics.asp

Q3. Recently, a geographical indication (GI) tag has been sought for one of the costliest mushrooms in the world that grows in

(a) Jharkhand    

(b) Jammu and Kashmir

(c) Tamil Nadu

(d) West Bengal

Option B is correct. Recently, a geographical indication (GI) tag has been sought for one of the costliest mushrooms in the world that grows in Jammu and Kashmir. Locally called Gucchi, or Morel, the mushroom, priced at over ₹20,000 a kg, is a forest produce collected by local farmers and tribals.

https://www.thehindubusinessline.com/economy/agri-business/gi-tag-sought-for-indias-costliest-mushroom/article33594977.ece#:~:text=A%20geographical%20indication%20(GI)%20tag,by%20local%20farmers%20and%20tribals.

Q4. “Desert Knight 21”, is a bilateral air exercise, held between India and

(a) Australia       

(b) UK  

(c) USA

(d) France

Option D is correct. “Desert Knight 21”, is a bilateral air exercise, held between India and France.

https://www.thestatesman.com/india/india-and-france-joint-air-exercise-desert-knight-21-to-feature-rafale-by-both-sides-1502947449.html

Q5. Recently, there was a news that China has raised a village on Indian land, along the bank of Tsari Chu river, which flows through the Indian state of

(a) Arunachal Pradesh   

(b) Himachal Pradesh

(c) Sikkim

(d) Uttarakhand

Option A is correct. Recently, there was a news that China has raised a village on Indian land, along the bank of Tsari Chu river, which flows through the Indian state of Arunachal Pradesh. The village located on the banks of the river Tsari Chu, lies in the Upper Subansiri district, an area which has been long disputed by India and China.

https://www.freepressjournal.in/india/china-has-raised-a-village-in-arunachal-mea-response-gives-credence-to-activity-in-area-controlled-by-pla

Q6. With reference to the mountain passes in India, consider the following statements:

  1. Naku La, Nathu La, Jelep La and Donkia are the mountain passes located in the state of Himachal Pradesh.
  2. The Sela Pass is the high-altitude pass located in the state of Sikkim.

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

Option D is correct.

Both statements are incorrect. Naku La, Nathu La, Jelep La and Donkia all are the mountain passes located in the state of Sikkim. The Sela Pass is the high-altitude pass located in Tawang District of Arunachal Pradesh.

http://www.arunachaltourism.com/sela-pass.php

http://www.gosikkim.in/general-information-about-sikkim/mountain-passes.html

Q7. Consider the following statements:

  1. Ultraviolet germicidal irradiation (UVGI) is an engineering method used to control the foodborne transmission of pathogenic microorganisms in high-risk settings.
  2. Low-pressure mercury discharge lamps are commonly used in UVGI applications and it emits UV-C, which kills microbes by damaging their DNA. 

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

Option B is correct.

 Statement 1 is incorrect. Ultraviolet germicidal irradiation (UVGI) is an engineering method used to control the airborne transmission of pathogenic microorganisms in high-risk settings.

Statement 2 is correct. Low-pressure mercury (Hg) discharge lamps are commonly used in UVGI applications and emit shortwave ultraviolet-C radiation, primarily at 254 nm. UV-C radiation kills or inactivates microbes by damaging their deoxyribonucleic acid (DNA). 

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2789813/

Q8. With reference to the Atal Pension Yojana, consider the following statements:

  1. It is a Social Security Scheme aimed at providing a steady stream of income after the age of 60, to both the enrolled citizens as well as non-citizens of India. 
  2. Central Government co-contributes 12% of the total yearly contributions.

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

Option D is correct.

Both statements are incorrect. It is a Social Security Scheme aimed at providing a steady stream of income after the age of 60 to all citizens of India. Central Government will co-contribute 50% of the total yearly contribution or Rs. 1000 /- per annum, whichever is lower, for the period of 5 Years in the account of subscribers who join the scheme up to 31st December 2015 and who are not a member of any Statutory Social Scheme and not an Income tax payer.

https://www.bankofbaroda.in/atal-pension-yojna.htm  

Ques  Ans

1-(c)

2-(a)

3-(b)

4-(d)

5-(a)

6-(d)

7-(b)

8-(d)