Quizzes

The Food Safety and Standards (Packaging and Labelling) Regulations, 2011 clearly define the mandatory packaging and labelling requirements for pre-packaged food products in India.

As per these regulations, manufacturers have to mandatorily provide the following information on the product label:

1. List of Ingredients: List of all ingredients and food additives used, with their vegetarian/non-vegetarian status and exact percentages. This enables consumers to check for potential allergens or restrictions as per dietary preferences or religious beliefs.
2. Nutrition Information: Nutritional composition of the food products including calories, carbohydrates, proteins, fats etc. Essential to help consumers make informed choices.
3. Vegetarian/Non-Vegetarian symbol: Green/Brown dot symbol identifying whether the product is vegetarian or non-vegetarian. Critical religious marker.

However, the regulation does NOT mandate any recommendations by medical professionals about possibility of allergic reactions to certain ingredients.

Core Banking Solutions refers specifically to networking the IT systems and branches of a bank:

• It enables seamless integration of the back-end computerization and technology infrastructure across all the bank's branches.
• This networking allows customers to easily access their bank accounts as well as avail various banking services from any branch across the country, regardless of where they opened the account.
• Essentially, account access and services are unified rather than restricted to just the home branch. This offers flexibility and convenience to customers.

Whereas, RBI control over banks or takeover of weak banks relate to completely different concepts:

• They have nothing to do with mainstream core banking solutions that deal with connecting technology to unify delivery of retail banking services.

Globally Important Agricultural Heritage Systems:

• GIAHS is an initiative started by the Food and Agriculture Organisation (FAO) of the United Nations along with various global partners.
• It was started in 2002 to identify and safeguard traditional agricultural systems and their associated landscapes, agricultural biodiversity and related knowledge systems that have stood the test of time.
• These traditional heritage agricultural systems are sustained by local communities and their ecologically sustainable techniques that have endured centuries of agricultural development and modernization.
• The GIAHS recognition is conferred on such complex socio-ecological production landscapes that combine agricultural biodiversity, resilient ecosystems and valuable cultural heritage.
• The aim is to dynamically conserve the sites while also fostering the associated indigenous local knowledge and community practices instead of displacing them.
• As of 2023, a total of 86 agricultural heritage sites are recognized as GIAHS across 26 countries like India, Japan, Philippines, Algeria etc. These represent microcosms of Biocultural Diversity across environments.
• GIAHS preserves unique agricultural heritage production sites as well as empowers indigenous communities as custodians of treasured local knowledge and ecofriendly practices refined over ages.

• GIAHS aims to:

  • Identify and safeguard traditional farming systems, eco-friendly practices, local wisdoms, indigenous landscapes, and agricultural biodiversity associated with communities' cultural heritage.
  • The emphasis is on recognizing value of ancient localized knowledge systems, community practices, sustainability, rather than displacing them with modern technology or maximizing just productivity and GI tags.

Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs.

• This statement is correct. Facilitating credit to SC, ST and women entrepreneurs to enable them set up greenfield enterprises is specified as the main objective of Stand Up India Scheme.

It provides for refinance through SIDBI.

• This statement is correct. The scheme offers refinance window via SIDBI to banks and financial institutions for providing financial support to borrowers eligible under this scheme.

The dual goals of Stand Up India Scheme are:

1. Promoting inclusive entrepreneurship amongst marginalized communities
2. Providing integrated refinance credit via SIDBI

By aiding SC, ST and Female entrepreneurs with initial capital needs and refinance assistance, the scheme combines social empowerment with financial inclusion.

• Develop national strategies for conservation and sustainable use of biodiversity: This describes the objective of the UN Convention on Biological Diversity. Not related to Basel-III banking regulations.
• Improve banking sector’s ability to deal with financial stress and improve risk management: This accurately states the core aims of Basel-III banking accords - to bolster banks' resilience, stability and risk mitigation capabilities to weather economic crises.
• Reduce greenhouse gas emissions but places burden on developed countries: Describes goal of the Kyoto Protocol which specifically targets emissions reductions by developed countries. Unrelated to Basel-III banking reforms.
• Transfer technology to replace CFCs and reduce ozone depletion: Matches the objective of the Montreal Protocol concerning protection of ozone layer. Entirely unrelated to Basel-III banking accords.

In summary, Basel-III accords were specifically formulated by global banking regulators after the 2008 financial crisis to improve the banking sector's stability and ability to manage risks.

• The Accelerated Irrigation Benefits Programme (AIBP) was launched in 1996-1997 by the Government of India. The objectives of AIBP are to accelerate implementation of large irrigation projects that have been delayed due to financial and other constraints. It does NOT specifically provide loan assistance to poor farmers as mentioned in the statement. Hence, statement 1 is incorrect.
• The Command Area Development Programme (CADP) was launched in 1974-1975 by the Government of India. The objectives of CADP are to improve water use efficiency through upgrading and modernizing irrigation infrastructure in command areas (the areas served by an irrigation project). Hence, statement 2 is correct.