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Which one of the following best describes the term 'shadow banking', sometimes mentioned in the news?
A shadow banking system is the group of financial intermediaries facilitating the creation of credit across the global financial system but whose members are not subject to regulatory oversight.
The shadow banking system also refers to unregulated activities by regulated institutions. Examples of intermediaries not subject to regulation include hedge funds, unlisted derivatives, and other unlisted instruments, while examples of unregulated activities by regulated institutions include credit default swaps.
The role of the ‘shadow banking system’, defined as ‘credit intermediation involving entities and activities outside the regular banking system', as a source of systemic risk was an important learning outcome of the global financial crisis.
Source)
https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/7FISEREI241214.pdf
A shadow banking system is the group of financial intermediaries facilitating the creation of credit across the global financial system but whose members are not subject to regulatory oversight.
The shadow banking system also refers to unregulated activities by regulated institutions. Examples of intermediaries not subject to regulation include hedge funds, unlisted derivatives, and other unlisted instruments, while examples of unregulated activities by regulated institutions include credit default swaps.
The role of the ‘shadow banking system’, defined as ‘credit intermediation involving entities and activities outside the regular banking system', as a source of systemic risk was an important learning outcome of the global financial crisis.
Source)
https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/7FISEREI241214.pdf
The ‘International Co-operation Review Group (ICRG)’ is sometimes seen in the news in the context of
The International Co-operation Review Group is a sub-group of the Financial Action Task Force. Since 2007, the FATF’s International Co-operation Review Group (ICRG) has analysed high-risk jurisdictions and recommended specific action to address the ML/FT risks emanating from them.
Recently, ICRG recommended that Pakistan be retained on the “Grey List”, given its failure to completely implement the 27-point action plan to check terror financing.
Throughout 2008 and 2009, the FATF issued a series of public statements expressing concerns about the significant deficiencies in the AML/CFT regimes of a number of jurisdictions. For two of these jurisdictions, Iran and DPRK, the FATF took the additional step of calling upon its members and urging all jurisdictions to apply counter-measures to protect their financial sectors from money laundering and terrorist financing risks emanating from them. Based on continued lack of progress by both jurisdictions, the FATF reiterated its call for countermeasures at each subsequent Plenary meeting.
The International Co-operation Review Group is a sub-group of the Financial Action Task Force. Since 2007, the FATF’s International Co-operation Review Group (ICRG) has analysed high-risk jurisdictions and recommended specific action to address the ML/FT risks emanating from them.
Recently, ICRG recommended that Pakistan be retained on the “Grey List”, given its failure to completely implement the 27-point action plan to check terror financing.
Throughout 2008 and 2009, the FATF issued a series of public statements expressing concerns about the significant deficiencies in the AML/CFT regimes of a number of jurisdictions. For two of these jurisdictions, Iran and DPRK, the FATF took the additional step of calling upon its members and urging all jurisdictions to apply counter-measures to protect their financial sectors from money laundering and terrorist financing risks emanating from them. Based on continued lack of progress by both jurisdictions, the FATF reiterated its call for countermeasures at each subsequent Plenary meeting.
Consider the following statements:
1. According to the recent data of the World Bank, India ranks first in the number of new firms created.
2. The new firm creation in services is significantly higher than that in manufacturing, infrastructure, or agriculture.
Which of the statements given above is/are correct?
Statement 1 is incorrect. As per the World Bank's data on entrepreneurship, India holds the third rank in the number of new firms created. This data shows that new firms creation has gone up dramatically in India since 2014. While the number of new firms in the formal sector grew at a compounded annual growth rate of 3.8 per cent from 2006-2014, the growth rate from 2014 to 2018 has been 12.2 per cent. As per the World Bank's Data on Entrepreneurship, India ranks third in number of new firms created. Brazil holds the first rank followed by the United States of America.
Statement 2 is correct. The World Bank's data on entrepreneurship reflects India's comparative advantage in the services sector. The new firm creation in services is significantly higher than that in the manufacturing, infrastructure or agriculture sector.
Source) Economic Survey 2019-20; Chapter 2; page number 26
Statement 1 is incorrect. As per the World Bank's data on entrepreneurship, India holds the third rank in the number of new firms created. This data shows that new firms creation has gone up dramatically in India since 2014. While the number of new firms in the formal sector grew at a compounded annual growth rate of 3.8 per cent from 2006-2014, the growth rate from 2014 to 2018 has been 12.2 per cent. As per the World Bank's Data on Entrepreneurship, India ranks third in number of new firms created. Brazil holds the first rank followed by the United States of America.
Statement 2 is correct. The World Bank's data on entrepreneurship reflects India's comparative advantage in the services sector. The new firm creation in services is significantly higher than that in the manufacturing, infrastructure or agriculture sector.
Source) Economic Survey 2019-20; Chapter 2; page number 26
As per the Economic Survey 2019-20, which one of the following groups of states recorded the highest quintile of relative entrepreneurial activity in the agriculture sector?
As per the Economic Survey 2019-20; states in the highest quintile of relative entrepreneurial activity in the agriculture sector are Manipur, Meghalaya, Madhya Pradesh, Assam, Tripura, and Orissa.
Establishments in the North-East are more likely to be private enterprises in the food business such as organic produce farms and tea plantations while majority of the establishments in Madhya Pradesh and Orissa are farmer producer companies, designed as hybrids between cooperative societies and private limited companies that organize farmers into a collective to improve their bargaining strength in markets.
Source) Economic Survey 2019-20; Chapter 2; Page number 32
As per the Economic Survey 2019-20; states in the highest quintile of relative entrepreneurial activity in the agriculture sector are Manipur, Meghalaya, Madhya Pradesh, Assam, Tripura, and Orissa.
Establishments in the North-East are more likely to be private enterprises in the food business such as organic produce farms and tea plantations while majority of the establishments in Madhya Pradesh and Orissa are farmer producer companies, designed as hybrids between cooperative societies and private limited companies that organize farmers into a collective to improve their bargaining strength in markets.
Source) Economic Survey 2019-20; Chapter 2; Page number 32
Recently, the 'Periodic Labour Force Survey (PLFS)' is in the news. This survey is released by
The Ministry of Statistics & Programme Implementation has launched a new regular employment-unemployment survey, namely, Periodic Labour Force Survey (PLFS) during April 2017 with certain changes in survey methodology, data collection mechanism and sampling design vis-à-vis the earlier quinquennial (once in every five years) Employment and Unemployment surveys of National Sample Survey Office (NSSO).
The PLFS has been launched with an objective of measuring quarterly changes of various labour market statistical indicators in urban areas as well as generating annual estimates of these indicators both for rural and urban areas, which can be used for policymaking.
Source)
Economic Survey 2019-20; Chapter 2; page number 34
https://pib.gov.in/newsite/PrintRelease.aspx?relid=190850
The Ministry of Statistics & Programme Implementation has launched a new regular employment-unemployment survey, namely, Periodic Labour Force Survey (PLFS) during April 2017 with certain changes in survey methodology, data collection mechanism and sampling design vis-à-vis the earlier quinquennial (once in every five years) Employment and Unemployment surveys of National Sample Survey Office (NSSO).
The PLFS has been launched with an objective of measuring quarterly changes of various labour market statistical indicators in urban areas as well as generating annual estimates of these indicators both for rural and urban areas, which can be used for policymaking.
Source)
Economic Survey 2019-20; Chapter 2; page number 34
https://pib.gov.in/newsite/PrintRelease.aspx?relid=190850