Economic & Social Issues (ESI) Questions For RBI Grade B Phase II 2023 | Set-11

Correct Answer:  B. Cooperative Banks

Explanation:  The Reserve Bank of India released guidelines for co-operative banks to manage risks that could arise from outsourcing of financial services. As per the guidelines, the bank should retain the core control of outsourced activities and make the outsourcing as per guidelines within six months. It also said the CEO and the senior management of co-operative banks would be responsible for evaluating risks of all.

Correct Answer:  A. Open Network for Digital Commerce

Explanation:  The Department for Promotion of Industry and Internal Trade (DPIIT) has recently appointed an advisory committee for its Open Network for Digital Commerce (ONDC) project. It aims to promote Open networks developed in open-source methodology. This can also make e-commerce processes open source. National Health Authority CEO RS Sharma and Infosys non-executive chairman Nandan Nilekani are appointed in this council.

Correct Answer:  B. Base Erosion and Profit Shifting

Explanation:  India joined the global tax deal under the G20-OECD Inclusive Framework on Base Erosion and Profit Shifting (BEPS). It seeks to reform international tax rules and ensure that multinational companies pay their fair share wherever they operate. However, when the global tax regime is implemented, India will have to roll back the equalisation levy that it imposes on MNCs such as Google, Amazon and Facebook.

Correct Answer:  B. Delhi

Explanation:  The Delhi government has framed a dedicated policy for the welfare of street children amidst the pandemic situation. It is prepared by the Delhi government’s Women and Child Development Department (WCD). It suggests that district administration could train the children rescued from streets (on attaining 18 years) as Civil Defence Volunteer. The policy also proposes the composition of District Child Protection Convergence Committee (DCPCC) above the District Task Force (DTF) for rescuing children.

Correct Answer – A. Atal Pension Yojana (APY)

Explanation: Atal Pension Yojana (APY) addresses the old age income security of the working poor and the longevity risks among the workers in unorganised sector. It encourages the workers in unorganised sector to voluntarily save for their retirement.The Government had launched the scheme with effect from 1st June, 2015. The scheme replaces the Swavalamban Yojana / NPS Lite scheme.

Correct Answer – D. 20 years

Explanation: The paragraph is about the Atal Pension Yojana (APY).

• The Government had launched the scheme with effect from 1st June, 2015.
• The scheme replaces the Swavalamban Yojana / NPS Lite scheme.
• The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.

Correct Answer – A. The subscribers of the scheme will get a fixed pension of minimum Rs. 5000.

Explanation: Atal Pension Yojana (APY) addresses the old age income security of the working poor and the longevity risks among the workers in unorganised sector.

• It encourages the workers in unorganised sector to voluntarily save for their retirement.
• The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more.
• The Government had launched the scheme with effect from 1st June, 2015.
• The scheme replaces the Swavalamban Yojana / NPS Lite scheme.
• Subscribers of APS would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years.

Correct Answer:  C. Arunachal Pradesh

Explanation:  The Ministry of Science and Technology is setting up a first-of-its-kind Centre of Excellence in the Northeast, at Kimin in Papum Pare district of Arunachal Pradesh. The project to establish the Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology. The construction of the new building and other infrastructure has been completed at a cost of nearly Rs 50 crore.

Correct Answer:  A. Oxford

Explanation:  Researchers at the University of Oxford in the United Kingdom have started the phase-one clinical trial, wherein they gave the first doses of a potential HIV vaccine to volunteers. According to the university, the experiment will assess the vaccine’s safety, tolerability, and immunogenicity. The HIV-CORE 0052 study is a part of the European Aids Vaccine Initiative. This will enrol 13 HIV-negative people who are not deemed to be at high risk of infection.

Correct Answer – C. UN Secretariat           

Explanation: The SDGs were set up in 2015 by the United Nations General Assembly (UN-GA) and are intended to be achieved by 2030. They are included in a UN-GA Resolution called the 2030 Agenda or what is colloquially known as Agenda 2030. The 2030 agenda for sustainable development summit which was signed by 193 member countries was organized the UN Secretariate.