IASbaba Daily Current Affairs Quiz [Day 10]

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Q.1) Recently Union Cabinet approved a scheme to grant Permanent Residency Status (PRS) to foreign investors. Consider the following statements with respect to same.

1. It will serve as a multiple entry visa without any stay stipulation
2. The foreign investor will have to invest a minimum of Rs. 10 crores to be brought within 18 months to be eligible for this scheme

Select the correct statements

1. Only 1
2. Only 2
3. Both 1 and 2
4. None

Q.2) Logistics Performance Index (LPI) is released by

1. World Bank
2. World Trade Organisation (WTO)
3. International Monetary Fund (IMF)
4. International Chamber of Commerce

Q.3) Central trade unions have called a nationwide strike today (2 September, 2016) to protest the government’s announcement of a hike in minimum wages for workers. Consider the following in regard to minimum wages and choose the incorrect statement:

1. States may notify minimum wages only if there are more than 1,000 workers in a particular employment.
2. National Floor Level Minimum Wage has a statutory backing, which makes it mandatory for states to fix minimum wages at not less than the National Floor Level Minimum Wage.
3. Currently the National Floor Level Minimum Wage stands at Rs 160 per day.
4. None 

Q.4) Consider the following statements with respect to Asian Infrastructure Investment Bank (AIIB)

1. It is aimed at supporting the building of infrastructure projects in Asia-Pacific region
2. It is headquartered at Singapore

Select the correct statements

1. Only 1
2. Only 2
3. Both 1 and 2
4. None of the above

Q.5) This tool allows developing countries to raise tariffs temporarily to deal with import surges or price falls. Identify the tool from the following options:

1. Special Drawing Rights
2. Special Safeguard mechanism
3. GATT
4. National Treatment Obligation

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All the best

IASbaba