0 UPSC EXAM ENGLISH QUIZ 12.08.2024 Daily Quiz 1 / 5 Q1. Consider the following statements: 1. National Asset Reconstruction Company Ltd aims to acquire stressed or non-performing assets worth ₹2 trillion of banks by FY28. 2. By FY24, NARCL had already achieved the ₹1 trillion mark in NPA acquisition. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: National Asset Reconstruction Company Ltd aims to acquire stressed or non-performing assets worth ₹2 trillion of banks by FY26. By FY24, NARCL had already achieved the ₹1 trillion mark in NPA acquisition. Bad Bank Bad banks are asset reconstruction companies that buy, manage, and recover bad loans and manage NPAs from commercial banks to liquidate the transferred assets. It provides a safety net for banks, allowing them to offload bad loans and focus on healthier lending activities. Evolution: The concept of bad banks emerged in the 1980s with institutions like Grant Street National Bank, which acquired bad assets from Mellon Bank. 2 / 5 Q2. Consider the following statements: 1. Union government proposed a transit-oriented development (TOD) plan for 14 large cities with a population of over 30 lakh. 2. Cities will be developed as "growth hubs" through economic and transit planning, and orderly development of peri-urban areas (areas immediately surrounding a city). 3. TOD is a planning strategy that aims to concentrate jobs, housing and services around public transport stations. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Union government proposed a transit-oriented development (TOD) plan for 14 large cities with a population of over 30 lakh. Cities will be developed as "growth hubs" through economic and transit planning, and orderly development of peri-urban areas (areas immediately surrounding a city). Transit-Oriented Development TOD is a planning strategy that aims to concentrate jobs, housing and services around public transport stations. It encourages development that is easy to walk or bike through, with jobs, homes, and services located close to transit options. TOD works on the idea that economic growth, urban transport and land use are more efficient when planned together. This approach has been successfully used in cities like Stockholm, Copenhagen, Hong Kong, Tokyo, and Singapore. 3 / 5 Q3. Consider the following statements: 1. Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 In a meeting on 9 August 2024,. 2. Which envisages an investment of Rs 20 lakh crores. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 in a meeting on 9 August 2024, which envisages an investment of Rs 10 lakh crores. The PMAY-U 2.0 will replace the Pradhan Mantri Awas Yojana-Urban (PMAY-U), which was launched on 25 June 2015 and ended on 31 December 2024. PMAY-U is part of the central government's Housing for All policy, which provides all-weather pucca houses to all eligible beneficiaries in urban areas. 4 / 5 Q4. Consider the following statements: 1. Quit India Movement Day, also known as August Kranti Day, is observed annually on August 8th to commemorate the launch of the Quit India Movement in 1942. 2. he day highlights the power of non-violent resistance and civil disobedience in achieving social and political change, emphasizing democracy, freedom, and unity. 3. August 8, 2024, marks the 72nd anniversary of Quit India Movement Day. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Quit India Movement Day, also known as August Kranti Day, is observed annually on August 8th to commemorate the launch of the Quit India Movement in 1942. he day highlights the power of non-violent resistance and civil disobedience in achieving social and political change, emphasizing democracy, freedom, and unity. August 8, 2024, marks the 82nd anniversary of Quit India Movement Day. Quit India Movement The Indian National Congress (INC), led by Mahatma Gandhi, officially launched the Quit India Movement on August 8, 1942, during the Bombay session of the All-India Congress Committee (AICC). The movement aimed for the immediate end of British rule in India and began in earnest on August 9, 1942, following the British arrest of key leaders, including Gandhi. 5 / 5 Q5. Consider the following statements: 1. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi approved eight railway projects with a total estimated cost of ₹24,657 crore. 2. The primary objective of these projects is to enhance connectivity, mobility, efficiency and service reliability within Indian Railways. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi approved eight railway projects with a total estimated cost of ₹24,657 crore. The primary objective of these projects is to enhance connectivity, mobility, efficiency and service reliability within Indian Railways. These projects are in line with the Prime Minister's vision of New India and PM-Gati Shakti National Master Plan for Integrated Multi-Modal Connectivity. Coverage and Network Expansion Districts Covered: 14 districts across seven states- Odisha, Maharashtra, Andhra Pradesh, Jharkhand, Bihar, Telangana and West Bengal. Network Expansion: These projects will expand the Indian Railways network by 900 km. New Stations: 64 new stations will be constructed. Regional Impact Aspirational Districts: Improved connectivity to six aspirational districts (East Singhbhum, Bhadrachalam, Malkangiri, Kalahandi, Nabarangpur, Rayagada), about 510 villages and about 40 lakh people. Tourism: UNESCO World Heritage Site Ajanta Caves will be connected to the railway network. Economic and environmental benefits Freight: Capacity enhancement will add 143 MTPA (million tonnes per annum) of freight. Environmental impact: Reduction in oil imports (32.20 crore litres) and CO2 emissions (0.87 million tonnes), which is equivalent to planting 3.5 crore trees. 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