OPUS Current Affairs

Tanvee Kanaujia
19 September 2021

Passage 1
Directions: Read the passage carefully and answer the questions that follow
Finance Minister Nirmala Sitharaman on Thursday announced a formal government guarantee on
the securities receipts that the planned ‘bad bank’ will issue to banks as it takes on non-performing
assets from their books. The government guarantee will be Rs A, she said.
The Union Cabinet on Wednesday cleared a proposal to provide government guarantee to security
receipts issued by the NARCL as part of resolution of bad loans, Sitharaman said at a press briefing
in New Delhi. NARCL proposes to acquire stressed assets of about Rs 2 trillion in phases within
extant regulations of RBI. NARCL will pay up to 15 per cent of the agreed value for the loans in
cash and the remaining 85 per cent would be government-guaranteed security receipts.
"Substantial amount of NPAs continue on balance sheets of banks primarily because the stock of
bad loans as revealed by the Asset Quality Review is not only large but fragmented across various
lenders. High levels of provisioning by banks against legacy NPAs has presented a unique
opportunity for faster resolution," said Ministry of Finance on the rationale for setting up the bad
bank.
The Finance Minister in Budget 2021-22 announced that the high level of provisioning by public
sector banks of their stressed assets calls for measures to clean up the bank books. The guarantee
will be valid for 5 years. "15% cash payment will be made to banks for NPAs based on some
valuation, 85% will be given as Security Receipts. For Security Receipts to have their value intact,
Govt has to give a backstop arrangement, hence the govt guarantee of Rs. A cr cleared by Union
Cabinet," said Sitharaman.
In 2015, an asset quality review of banks had happened, this review revealed a high incidence of
Non-Performing Assets (NPAs). In last six financial years, the govt's 4Rs strategy - ___ - was
executed, after this banks have recovered Rs 5,01,479 crore," added Sitharaman.
PSBs will maintain 51% ownership in NARCL. IDRCL is a service company/operational entity,
which will manage the asset and engage market professionals and turnaround experts. PSB and
Public FIs will hold a maximum of 49% stake and the rest will be with private sector lenders. The
NARCL will acquire assets by making an offer to the lead bank. Once NARCL’s offer is accepted,
then, IDRCL will be engaged for management and value addition. Capitalisation of NARCL would
be through equity from banks and NBFCs. it will also raise debt as required.The GoI guarantee
will reduce upfront capitalization requirements.
1. What does A stand for?
a. 36000 crores
 b. 30600 crores
c. 63000 crores
d. 36600 crores

2. What does NARCL stand for?

a. National Asset Reconstruction Company Limited
b. National Asset Recovery Company Limited
c. National Asset Redemption Company Limited
d. National Asset Repair Company Limited

3. What is the 4 Rs strategy?

a. Reforms, Redressal, Recognition, and Remedies
b. Resolution, Reforms, Redressal, and Remedies
c. Recognition, Resolution, Recapitalisation and Reforms
d. Recapitalisation, Recognition, Remedies, and Reforms

4. What does IDRCL stand for?

a. India Debt Restructuring Company Ltd.
b. India Debt Recovery Company Ltd.
c. India Debt Reconstruction Company Ltd.
d. India Debt Resolution Company Ltd.

5. Who is the Finance Secretary of the GoI?

a. Debashish Panda
b. Nirmala Seetharaman
c. Dr. Bhagwat Kishanrao Karad
d. Debanjan Hariharan

Passage 2
___ has launched the world’s first crew of “amateur astronauts” on a private flight to circle Earth
for three days.
Wednesday night’s successful launch marked the most ambitious leap yet in space tourism. It’s
the first chartered passenger flight for Elon Musk’s space company and the first time a rocket
streaked toward orbit with a crew that contained no professional astronauts.
“It blows me away, honestly,” the __ director, Benji Reed, said on the eve of launch from Nasa’s
Kennedy Space Center. “It gives me goosebumps even right now to talk about it.”
Leading the flight is Jared Isaacman, 38, who made his fortune with a payment-processing
company he started in his teens. Isaacman is the third billionaire to launch this summer, following
flights by Virgin Galactic’s Richard Branson and Blue Origin’s Jeff Bezos in July.
Bezos congratulated Musk and ___ on the successful launch. “Another step towards a future where
space is accessible to all of us,” he tweeted on Thursday.
Isaacman is joined by A, 29, a childhood cancer survivor who works as a physician assistant at St
Jude children’s research hospital in Memphis, Tennessee. Isaacman has pledged $100m of his own
money to the hospital and is seeking another $100m in donations.
Auction items to benefit St Jude’s are going to space in the capsule, too, the New York Times
reported.
Also along for the ride are the sweepstakes winners Chris Sembroski, 42, a data engineer in
Everett, Washington, and Sian Proctor, 51, a community college educator in Tempe, Arizona.
A is set to become the youngest American in space and the first person in space with a prosthesis,
a titanium rod in her left leg.

6. What is the name of the flight mentioned above?

a. Hope3
b. Inspiration4
c. Miracle1
d. Gratitude2

7. Fill in the blank above.

a. Virgin Galactic
b. SpaceX
c. Blue Origin
d. NASA

8. What does A stand for in the above passage?

a. Colin Bennett
b. Wally Funk
c. Sirisha Bandla
d. Hayley Arceneaux

9. For how long is the crew expected to be in space?

a. 1 day
b. 2 days
c. 3 days
d. 4 days
 10. NASA Astronaut ___ will be in space (ISS) for a record breaking 353 days for an
American
a. Mark Tully
b. Mark Vande Hei
c. Scott Kelly
d. Scott Tully

11. India’s first solar mission part of the ___ mission is likely to be launched in the third
quarter of 2022.
a. Aditya L1
b. Surya L1
c. Uday L1
d. Dinkar L1

12. India’s solar mission plans to launch a spacecraft from Earth to ___:
a. Photosphere of the sun
b. Core of the sun
c. Lagrange point 1
d. Lagrange point 2

Passage 3
The UK, US and Australia have announced a historic security pact in the Asia-Pacific, in
what's seen as an effort to counter China.
It will let Australia build nuclear-powered submarines for the first time, using technology provided
by the US.
The __ pact, which will also cover AI and other technologies, is one of the countries' biggest
defence partnerships in decades, analysts say.
China has condemned the agreement as "extremely irresponsible".
Foreign ministry spokesman Zhao Lijian said it "seriously undermines regional peace and stability
and intensifies the arms race".
China's embassy in Washington accused the countries of a "Cold War mentality and ideological
prejudice"
The pact also created a row with A, which has now lost a deal with Australia to build 12
submarines.
13. Fill in the blank above.
a. AUSUK
b. USAUK
 c. AUSUK
d. AUKUS

14. What does A stand for in the above passage?

a. South Korea
b. New Zealand
c. France
d. Russia

15. Which of the following countries was not a part of the Central Powers during WWI?
a. Russia
b. Germany
c. Bulgaria
d. Ottoman Empire

16. Which of these countries is not a member of NATO?

a. France
b. Sweden
c. Croatia
d. Bulgaria

17. The abovementioned pact has been created to primarily respond to tensions in the :
a. Aral sea
b. Pacific Ocean
c. Indian Ocean
d. South China Sea

18. With the abovementioned pact, Australia will become the __ nation in the world to operate
nuclear powered submarines?
a. 4th
b. 5th
c. 6th
d. 7th

Passage 4
In a move to provide relief to companies such as Vodafone Idea that have to pay thousands of
crores in unprovisioned past statutory dues, the Union Cabinet has approved a crucial package for
the telecom sector.
The wide set of measures proposed entail reforms for the ailing sector by way of granting
moratorium on unpaid dues, redefining AGR prospectively and cut in Spectrum Usage Charges.
Telecom Minister A briefed the media on decisions taken by the Union Cabinet at its meeting held
today. Vaishnav said nine structural reforms for the telecom sector were approved.
The package primarily provided relief to B, which is on the brink of going bankrupt. A moratorium
on AGR-related dues will offer space to the cash-strapped firm to improve its business and clear
dues over a longer period.
The Centre has also announced C% foreign direct investment (FDI) in the telecom sector through
the automatic route as part of its comprehensive package for the telecom sector.
19. What does AGR stand for?
a. Actual Gross Revenue
b. Adjusted Gross Revenue
c. Actual Gross Receipts
d. Adjusted Gross Receipts

20. What does A stand for in the above passage?

a. Ravi Shankar Prasad
b. Anshu Prakash
c. Shamrao Dhotre
d. Ashwini Vaishnaw

21. What does B stand for in the above passage?

a. Bharti Airtel
b. Reliance Jio
c. Vodafone Idea
d. None of the above.

22. How long is the moratorium provided to TSPs?

a. 1 year
b. 2 years
c. 3 years
d. 4 years

23. What does C stand for in the above passage?

a. 100%
b. 75%
c. 50%
d. 45%
Passage 5
While 2020 — a year marked by months of a national lockdown due to the pandemic — saw fewer
“traditional crimes” such as those committed against women and children, among others, it
witnessed a big spike in civil conflicts.
According to the latest data on ‘Crime in India’ released by the NCRB, communal riots registered
an increase of 96% in 2020 over the previous year. Similarly, caste riots saw an increase of close
to 50%, agrarian riots 38% and riots during ‘andolan/morcha’ increased by 33%.
The report says that due to the complete lockdown from March 25 and May 31 last year, the
number of cases registered for crimes against women, children and senior citizens, theft, burglary,
robbery and dacoity, among others, dropped by about 2 lakh. Murder registered a marginal increase
of 1% even as offences falling under the category of “violent crimes” decreased by 0.5%.
India reported an average A murders daily in 2020, totalling 29,193 fatalities over the year, with
B topping the chart among states.
24. What does NCRB stand for?
a. Narcotics Crimes Records Book
b. National Crime Records Bureau
c. National Criminal Records Bureau
d. Narcotics and Crimes Records Bureau

25. What does A stand for?

a. 45
b. 65
c. 70
d. 80

26. Identify B in the above passage.

a. Delhi
b. Uttar Pradesh
c. Haryana
d. Maharashtra

27. New Delhi has recorded what percentage of the total rape cases registered?
a. 23%
b. 31%
c. 37%
d. 40%
28. The rise in cases relating to fake news is from 2019 to 2020 is:
a. 111%
b. 214%
c. 231%
d. 179%

29. Which state had the highest number of cases relating to fake news?
a. Uttar Pradesh
b. Telangana
c. Tamil Nadu
d. Haryana

30. India recorded a __ % jump in cyber crimes in 2020.

a. 3.3%
b. 2.7%
c. 7.8%
d. 11.8%