SAARC, IOR-ARC - GS questions based on daily current affairs

1)   Consider the following statements

1. India and Sri Lanka’s central banks signed a currency swap agreement under the SAARC Framework.
2. Under the arrangement, the Central Bank of Sri Lanka can draw up to $1.1 billion for a maximum period of six months.
3. The swap will be offered in U.S. dollar, euro or Indian rupee against the domestic currency or domestic currency-denominated government securities of the requesting country.

Which of the above statements is / are correct?

a. 1,2
b. 2,3
c. 1,3
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:
No explanation is available for this question!
2)   Which of the following are objectives of SAARCSTAT?

1) Support regional cooperation and initiatives in Statistics
2) Harmonize classification concepts, definition
3) Promote human resource development

a. 1, 2
b. 2, 3
c. 1, 3
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:
Objectives are -Support regional cooperation and initiatives in Statistics

  • Plan and undertake policy initiatives for comparable and timely Statistics
  • Harmonize classification concepts, definition;
  • Adopt international good practices
  • Promote improvement in the official statistics and
  • Promote human resource development

    		•
    3)   Which of the following is/are true regarding SAARCSTAT?

    1) The SAARCSTAT must meet at least twice a year.
    2) Meetings shall be held in member states in reverse alphabetical order.

    a. Only 1
    b. Only 2
    c. Both 1 and 2
    d. Neither 1 nor 2
    Answer  Explanation 

    ANSWER: Neither 1 nor 2

    Explanation:
    Structure of SAARCSTAT -

    • SAARCSTAT will comprise of secretaries/heads of statistical offices/organisations.
    • The SAARCSTAT must meet at least once a year.
    • Meetings shall be held in member states in alphabetical order.
    • Each member state will have a designated officer as a focal point in SAARCSTAT.
    • The SAARCSTAT will submit its report to Council of Ministers through the Committee of Economic Cooperation.
    4)   SAARC Group on Statistics is called

    a. SAARCSTAT
    b. SAARCSTATS
    c. SAARC-S
    d. S-SAARC
    Answer  Explanation 

    ANSWER: SAARCSTAT

    Explanation:

    • The proposal for establishing cooperation in Statistics received enthusiastic support of the SAARC Member States which got the approval at the Thirtieth Session of the Standing Committee of SAARC (Islamabad, 18-19 July 2004).
    • India was chosen to host the First Meeting of the Heads of Statistical Organisations of SAARC Member States to examine the possibility of initiating cooperation in the field of statistics with a view to finalizing standard formats for exchange of statistical data in various economic and social fields.
    • Accordingly, in order to pursue and concretize cooperation in the field of statistics, the Heads of SAARC Statistical Organisations in their Meeting at Kolkata, India on 26-27 May 2005 formed a permanent “SAARC Group on Statistics”, namely, SAARCSTAT.
    5)   Which of the following countries are part of a Motor Vehicles Agreement?

    1. Pakistan
    2. Myanmar
    3. India
    4. Nepal
    5. Bhutan
    6. Bangladesh

    a. 1,3,4 ,5
    b. 3 and 4
    c. 3,4,5,6
    d. All
    Answer  Explanation 

    ANSWER: 3,4,5,6

    Explanation:
    - India, Nepal, Bhutan and Bangladesh signed a landmark Motor Vehicles Agreement (MVA) for the Regulation of Passenger, Personnel and Cargo Vehicular Traffic among the four South Asian neighbours
    - The MVA agreement between sub-grouping of four SAARC nations, Bangladesh, Bhutan, India and Nepal (BBIN) will pave the way for a seamless movement of people and goods across their borders for the benefit and integration of the region and its economic development.
    6)   Which of the following statements is/are correct about South Asia Sub-regional Economic Co-operation (SASEC) Program?

    1. Transport, trade facilitation,energy and ICT are priority sectors for investment.
    2. The headquarter of SASEC program is in Colombo

    a. Only 1
    b. Only 2
    c. Both
    d. None
    Answer  Explanation 

    ANSWER: Only 1

    Explanation:
    - The Manila, Philippines-based Asian Development Bank (ADB) serves as the Secretariat for the SASEC member countries.
    - The South Asia Subregional Economic Cooperation (SASEC) Program, set up in 2001, brings together Bangladesh, Bhutan, India, the Maldives, Nepal and Sri Lanka
    - It is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation.
    7)   SAADMEx is disaster mitigation exercise of

    a. Mekong- Ganga co-operation
    b. NATO
    c. SAARC
    d. SCO
    Answer  Explanation 

    ANSWER: SAARC

    Explanation:
    South Asian Annual Disaster Management Exercise SAADMEx is being held keeping in mind the prevalent geo-climatic conditions as well as increased frequency of natural calamities in the SAARC region, especially in the wake of the recent earthquake in Nepal in April.
    8)   Consider the following statements about SAARC satellites

    1. It will be the Communication-Meteorology Satellite.
    2. Except for Pakistan all SAARC members will participate in this project.

    Which of the above statements is/are correct?

    a. Only 1
    b. Only 2
    c. Both
    d. None
    Answer  Explanation 

    ANSWER: Only 1

    Explanation:
    The satellite will be dedicated for helping the region in education, health and communication. All member countries have agreed to participate.
    9)   Consider the following statements

    1. India signed motor vehicles pact with Bhutan, Bangladesh and Nepal.
    2. It will enable seamless transit of passenger and cargo vehicles among these nations.

    Which of the above statements is/are correct?

    a. Only 1
    b. Only 2
    c. Both
    d. None
    Answer  Explanation 

    ANSWER: Both

    Explanation:
    The Cabinet had approved a proposal to sign the SAARC MVA during the SAARC Summit in Kathmandu in November 2014.But due to Pakistan's reservation BBIN pact will be signed.
    10)   Which of the following are members of IOR-ARC?

    1. South Africa
    2. Iran
    3. Pakistan
    4. Egypt
    5. Bangladesh
    6. Comoros

    a. 1,3,4,5
    b. 1,2,5,6
    c. 1,4,5
    d. All
    Answer  Explanation 

    ANSWER: 1,2,5,6

    Explanation:
    Egypt is dialogue partner and Pakistan is not member of IOR-ARC.
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