UPSC Current Affairs Quiz : 2 August 2024

The Current Affairs Quiz 2024 is a daily quiz based on the DAILY CURRENT AFFAIRS AND PIB SUMMARY from the previous day, as posted on our website. It covers all relevant news sources and is designed to test your knowledge of current events. Solving these questions will help you retain both concepts and facts relevant to the UPSC IAS civil services exam.

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• Question 1 of 10 1. Question 1 points Consider the following statements regarding Hollongapar Gibbon Sanctuary. Hollongapar Gibbon Sanctuary is home to India’s only ape and gibbon species, the hoolock gibbons. The forest’s lower canopy is dominated by evergreen shrubs and herbs. The forest has been fragmented and surrounded by tea gardens. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: c) The Hollongapar Gibbon Sanctuary, formerly known as the Gibbon Wildlife Sanctuary is an isolated protected area of evergreen forest located in Assam. The sanctuary was officially constituted and renamed in 1997. Set aside initially in 1881, its forests used to extend to the foothills of the Patkai mountain range. Since then, the forest has been fragmented and surrounded by tea gardens and small villages. The Hollongapar Gibbon Sanctuary contains India’s only ape and gibbon specie – the hoolock gibbons, and Northeastern India’s only nocturnal primate – the Bengal slow loris. The upper canopy of the forest is dominated by the hollong tree (Dipterocarpus macrocarpus), while the nahar (Mesua ferrea) dominates the middle canopy. The lower canopy consists of evergreen shrubs and herbs. Incorrect Solution: c) The Hollongapar Gibbon Sanctuary, formerly known as the Gibbon Wildlife Sanctuary is an isolated protected area of evergreen forest located in Assam. The sanctuary was officially constituted and renamed in 1997. Set aside initially in 1881, its forests used to extend to the foothills of the Patkai mountain range. Since then, the forest has been fragmented and surrounded by tea gardens and small villages. The Hollongapar Gibbon Sanctuary contains India’s only ape and gibbon specie – the hoolock gibbons, and Northeastern India’s only nocturnal primate – the Bengal slow loris. The upper canopy of the forest is dominated by the hollong tree (Dipterocarpus macrocarpus), while the nahar (Mesua ferrea) dominates the middle canopy. The lower canopy consists of evergreen shrubs and herbs.

#### 1. Question

Consider the following statements regarding Hollongapar Gibbon Sanctuary.

• Hollongapar Gibbon Sanctuary is home to India’s only ape and gibbon species, the hoolock gibbons.

• The forest’s lower canopy is dominated by evergreen shrubs and herbs.

• The forest has been fragmented and surrounded by tea gardens.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: c)

The Hollongapar Gibbon Sanctuary, formerly known as the Gibbon Wildlife Sanctuary is an isolated protected area of evergreen forest located in Assam. The sanctuary was officially constituted and renamed in 1997. Set aside initially in 1881, its forests used to extend to the foothills of the Patkai mountain range.

Since then, the forest has been fragmented and surrounded by tea gardens and small villages.

The Hollongapar Gibbon Sanctuary contains India’s only ape and gibbon specie – the hoolock gibbons, and Northeastern India’s only nocturnal primate – the Bengal slow loris.

The upper canopy of the forest is dominated by the hollong tree (Dipterocarpus macrocarpus), while the nahar (Mesua ferrea) dominates the middle canopy. The lower canopy consists of evergreen shrubs and herbs.

Solution: c)

Since then, the forest has been fragmented and surrounded by tea gardens and small villages.

The Hollongapar Gibbon Sanctuary contains India’s only ape and gibbon specie – the hoolock gibbons, and Northeastern India’s only nocturnal primate – the Bengal slow loris.

• Question 2 of 10 2. Question 1 points Consider the following statements regarding Thorium-based nuclear power station. Russia has built the world’s first nuclear power plant using molten thorium salt. Unlike uranium, thorium must first be converted to U-233 in a reactor to produce nuclear energy. The station’s reactor uses carbon dioxide for heat transfer and heavy water for cooling. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: a) Only Statement 2 is correct. China is set to build the world’s first nuclear power plant using molten thorium salt in the Gobi Desert, aiming for operation by 2025. About Thorium-based nuclear power station: It utilizes thorium instead of uranium as fuel. Unlike uranium, thorium must first be converted to U-233 in a reactor to produce nuclear energy. This station’s reactor uses liquid salt or carbon dioxide for heat transfer and electricity generation, eliminating the need for water cooling and significantly reducing the risk of meltdowns. It will also be the first molten salt reactor since the United States shut down its test reactor in 1969. Incorrect Solution: a) Only Statement 2 is correct. China is set to build the world’s first nuclear power plant using molten thorium salt in the Gobi Desert, aiming for operation by 2025. About Thorium-based nuclear power station: It utilizes thorium instead of uranium as fuel. Unlike uranium, thorium must first be converted to U-233 in a reactor to produce nuclear energy. This station’s reactor uses liquid salt or carbon dioxide for heat transfer and electricity generation, eliminating the need for water cooling and significantly reducing the risk of meltdowns. It will also be the first molten salt reactor since the United States shut down its test reactor in 1969.

#### 2. Question

Consider the following statements regarding Thorium-based nuclear power station.

• Russia has built the world’s first nuclear power plant using molten thorium salt.

• Unlike uranium, thorium must first be converted to U-233 in a reactor to produce nuclear energy.

• The station’s reactor uses carbon dioxide for heat transfer and heavy water for cooling.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: a)

Only Statement 2 is correct.

China is set to build the world’s first nuclear power plant using molten thorium salt in the Gobi Desert, aiming for operation by 2025.

About Thorium-based nuclear power station:

It utilizes thorium instead of uranium as fuel. Unlike uranium, thorium must first be converted to U-233 in a reactor to produce nuclear energy. This station’s reactor uses liquid salt or carbon dioxide for heat transfer and electricity generation, eliminating the need for water cooling and significantly reducing the risk of meltdowns. It will also be the first molten salt reactor since the United States shut down its test reactor in 1969.

Solution: a)

Only Statement 2 is correct.

China is set to build the world’s first nuclear power plant using molten thorium salt in the Gobi Desert, aiming for operation by 2025.

About Thorium-based nuclear power station:

• Question 3 of 10 3. Question 1 points Consider the following statements regarding Gobi Desert. Gobi Desert is a vast, arid region located entirely in China. It is known for its dunes, mountains and rare animals such as snow leopards and Bactrian camels. The Gobi Desert is the source of many important fossil finds. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 1 is incorrect. About the Gobi Desert: It is a vast, arid region in northern China and southern Mongolia. It’s known for its dunes, mountains and rare animals such as snow leopards and Bactrian camels. In the Gobi Gurvansaikhan National Park, the Khongoryn Els sand dunes are said to sing when the wind blows. The park also features the deep ice field of Yolyn Am canyon. Dinosaur fossils have been found at the red “Flaming Cliffs” of Bayanzag. Incorrect Solution: b) Statement 1 is incorrect. About the Gobi Desert: It is a vast, arid region in northern China and southern Mongolia. It’s known for its dunes, mountains and rare animals such as snow leopards and Bactrian camels. In the Gobi Gurvansaikhan National Park, the Khongoryn Els sand dunes are said to sing when the wind blows. The park also features the deep ice field of Yolyn Am canyon. Dinosaur fossils have been found at the red “Flaming Cliffs” of Bayanzag.

#### 3. Question

Consider the following statements regarding Gobi Desert.

• Gobi Desert is a vast, arid region located entirely in China.

• It is known for its dunes, mountains and rare animals such as snow leopards and Bactrian camels.

• The Gobi Desert is the source of many important fossil finds.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Statement 1 is incorrect.

About the Gobi Desert:

It is a vast, arid region in northern China and southern Mongolia. It’s known for its dunes, mountains and rare animals such as snow leopards and Bactrian camels. In the Gobi Gurvansaikhan National Park, the Khongoryn Els sand dunes are said to sing when the wind blows. The park also features the deep ice field of Yolyn Am canyon. Dinosaur fossils have been found at the red “Flaming Cliffs” of Bayanzag.

Solution: b)

Statement 1 is incorrect.

About the Gobi Desert:

• Question 4 of 10 4. Question 1 points Consider the following statements regarding Agriculture Accelerator Fund. The Fund encourages agri-startups by young entrepreneurs in rural areas. It was setup by the Department of Agricultural Research and Education. The Fund aims to bring in modern technologies to transform agricultural practices and increase productivity. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 2 is incorrect. An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs in rural areas. The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices, and increase productivity and profitability. Incorrect Solution: b) Statement 2 is incorrect. An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs in rural areas. The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices, and increase productivity and profitability.

#### 4. Question

Consider the following statements regarding Agriculture Accelerator Fund.

• The Fund encourages agri-startups by young entrepreneurs in rural areas.

• It was setup by the Department of Agricultural Research and Education.

• The Fund aims to bring in modern technologies to transform agricultural practices and increase productivity.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Statement 2 is incorrect.

An Agriculture Accelerator Fund will be set up to encourage agri-startups by young entrepreneurs in rural areas. The fund will aim at bringing innovative and affordable solutions for challenges faced by farmers. It will also bring in modern technologies to transform agricultural practices, and increase productivity and profitability.

Solution: b)

Statement 2 is incorrect.

• Question 5 of 10 5. Question 1 points Consider the following statements regarding Indian Council of Agricultural Research (ICAR). Indian Council of Agricultural Research reports to the Department of Agriculture & Farmers’ Welfare. ICAR established Krishi Vigyan Kendras for the vocational training of farmers. It assists farmers with access to improved technologies and technical support services. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 1 is incorrect. The Indian Council of Agricultural Research (ICAR) is an autonomous body responsible for co-ordinating agricultural education and research in India. It reports to the Department of Agricultural Research and Education, Ministry of Agriculture. The Union Minister of Agriculture serves as its president. It is the largest network of agricultural research and education institutes in the world. Role of ICAR: ICAR manages various research programmes, such as horticultural research, soil fertility, agricultural mechanisation and pest management, aimed at improving the productivity and profitability of Indian agriculture. ICAR established Krishi Vigyan Kendras for the vocational training of farmers. It also assists farmers with access to improved technologies, efficient use of resources and technical support services. Incorrect Solution: b) Statement 1 is incorrect. The Indian Council of Agricultural Research (ICAR) is an autonomous body responsible for co-ordinating agricultural education and research in India. It reports to the Department of Agricultural Research and Education, Ministry of Agriculture. The Union Minister of Agriculture serves as its president. It is the largest network of agricultural research and education institutes in the world. Role of ICAR: ICAR manages various research programmes, such as horticultural research, soil fertility, agricultural mechanisation and pest management, aimed at improving the productivity and profitability of Indian agriculture. ICAR established Krishi Vigyan Kendras for the vocational training of farmers. It also assists farmers with access to improved technologies, efficient use of resources and technical support services.

#### 5. Question

Consider the following statements regarding Indian Council of Agricultural Research (ICAR).

• Indian Council of Agricultural Research reports to the Department of Agriculture & Farmers’ Welfare.

• ICAR established Krishi Vigyan Kendras for the vocational training of farmers.

• It assists farmers with access to improved technologies and technical support services.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Statement 1 is incorrect.

The Indian Council of Agricultural Research (ICAR) is an autonomous body responsible for co-ordinating agricultural education and research in India. It reports to the Department of Agricultural Research and Education, Ministry of Agriculture. The Union Minister of Agriculture serves as its president. It is the largest network of agricultural research and education institutes in the world.

Role of ICAR: ICAR manages various research programmes, such as horticultural research, soil fertility, agricultural mechanisation and pest management, aimed at improving the productivity and profitability of Indian agriculture.

• ICAR established Krishi Vigyan Kendras for the vocational training of farmers. It also assists farmers with access to improved technologies, efficient use of resources and technical support services.

• ICAR established Krishi Vigyan Kendras for the vocational training of farmers.

• It also assists farmers with access to improved technologies, efficient use of resources and technical support services.

Solution: b)

Statement 1 is incorrect.

• ICAR established Krishi Vigyan Kendras for the vocational training of farmers.

• It also assists farmers with access to improved technologies, efficient use of resources and technical support services.

• Question 6 of 10 6. Question 1 points Integrated Fire Management Voluntary Guidelines, recently in news was published by a) International Fire Association b) United Nations Office for Disaster Risk Reduction c) UNICEF d) Food and Agriculture Organization (FAO) Correct Solution: d) The Food and Agriculture Organization (FAO) has updated its Integrated Fire Management (IFM) voluntary guidelines to address wildfire risks, incorporating new strategies developed by the Global Fire Management Hub (GFMH), launched by FAO and UNEP in 2023. Incorrect Solution: d) The Food and Agriculture Organization (FAO) has updated its Integrated Fire Management (IFM) voluntary guidelines to address wildfire risks, incorporating new strategies developed by the Global Fire Management Hub (GFMH), launched by FAO and UNEP in 2023.

#### 6. Question

Integrated Fire Management Voluntary Guidelines, recently in news was published by

• a) International Fire Association

• b) United Nations Office for Disaster Risk Reduction

• d) Food and Agriculture Organization (FAO)

Solution: d)

The Food and Agriculture Organization (FAO) has updated its Integrated Fire Management (IFM) voluntary guidelines to address wildfire risks, incorporating new strategies developed by the Global Fire Management Hub (GFMH), launched by FAO and UNEP in 2023.

Solution: d)

• Question 7 of 10 7. Question 1 points The Sot River, that was in news due to its rejuvenation, flows through which state? a) Gujarat b) Maharashtra c) Uttar Pradesh d) Odisha Correct Solution: c) The Sot River, a crucial water source in Sambhal, Uttar Pradesh, dried up due to decades of neglect and encroachment. In 2022, IAS officer Manish Bansal took charge and initiated a comprehensive river rejuvenation project. The district administration conducted surveys, cleared illegal encroachments, and desilted the riverbed with the help of MGNREGA workers. Incorrect Solution: c) The Sot River, a crucial water source in Sambhal, Uttar Pradesh, dried up due to decades of neglect and encroachment. In 2022, IAS officer Manish Bansal took charge and initiated a comprehensive river rejuvenation project. The district administration conducted surveys, cleared illegal encroachments, and desilted the riverbed with the help of MGNREGA workers.

#### 7. Question

The Sot River, that was in news due to its rejuvenation, flows through which state?

• a) Gujarat

• b) Maharashtra

• c) Uttar Pradesh

Solution: c)

The Sot River, a crucial water source in Sambhal, Uttar Pradesh, dried up due to decades of neglect and encroachment. In 2022, IAS officer Manish Bansal took charge and initiated a comprehensive river rejuvenation project. The district administration conducted surveys, cleared illegal encroachments, and desilted the riverbed with the help of MGNREGA workers.

Solution: c)

• Question 8 of 10 8. Question 1 points Consider the following statements regarding NATS 2.0 Portal. The portal aims to enhance the skilling and employability of youth in sectors like IT, manufacturing, and automobiles. It was launched by the Ministry of Skill Development and Entrepreneurship (MSDE). The initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 2 is incorrect. The Union Education Minister launched the National Apprenticeship Training Scheme (NATS) 2.0 Portal. The portal aims to enhance the skilling and employability of youth in various sectors like IT, manufacturing, and automobiles. It will help apprentices register and apply for opportunities, while establishments can manage vacancies and contracts. About NATS 2.0 Portal: The NATS 2.0 portal, developed by the Ministry of Education with AICTE support, manages the entire apprenticeship lifecycle. This initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education. Incorrect Solution: b) Statement 2 is incorrect. The Union Education Minister launched the National Apprenticeship Training Scheme (NATS) 2.0 Portal. The portal aims to enhance the skilling and employability of youth in various sectors like IT, manufacturing, and automobiles. It will help apprentices register and apply for opportunities, while establishments can manage vacancies and contracts. About NATS 2.0 Portal: The NATS 2.0 portal, developed by the Ministry of Education with AICTE support, manages the entire apprenticeship lifecycle. This initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education.

#### 8. Question

Consider the following statements regarding NATS 2.0 Portal.

• The portal aims to enhance the skilling and employability of youth in sectors like IT, manufacturing, and automobiles.

• It was launched by the Ministry of Skill Development and Entrepreneurship (MSDE).

• The initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Statement 2 is incorrect.

The Union Education Minister launched the National Apprenticeship Training Scheme (NATS) 2.0 Portal.

• The portal aims to enhance the skilling and employability of youth in various sectors like IT, manufacturing, and automobiles.

• It will help apprentices register and apply for opportunities, while establishments can manage vacancies and contracts.

About NATS 2.0 Portal:

• The NATS 2.0 portal, developed by the Ministry of Education with AICTE support, manages the entire apprenticeship lifecycle.

• This initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education.

Solution: b)

Statement 2 is incorrect.

The Union Education Minister launched the National Apprenticeship Training Scheme (NATS) 2.0 Portal.

• The portal aims to enhance the skilling and employability of youth in various sectors like IT, manufacturing, and automobiles.

• It will help apprentices register and apply for opportunities, while establishments can manage vacancies and contracts.

About NATS 2.0 Portal:

• The NATS 2.0 portal, developed by the Ministry of Education with AICTE support, manages the entire apprenticeship lifecycle.

• This initiative supports the National Education Policy (NEP) 2020’s goals of integrating vocational and general education.

• Question 9 of 10 9. Question 1 points Consider the following statements regarding One DAE One Subscription (ODOS). One DAE One Subscription (ODOS) was launched by the Department of Atomic Energy. It provides access to national and international research papers and scientific journals. It will allow scientists, engineers, students, and researchers to publish in open-access journals. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: c) The Department of Atomic Energy (DAE) launched the ‘One DAE One Subscription’ (ODOS). This initiative unites DAE and its 60 subunits under a single umbrella, providing access to national and international research papers and scientific journals. The ODOS will allow DAE scientists, engineers, students, and researchers to access a broader range of knowledge and publish in open-access journals. This initiative aims to make knowledge more accessible and will eventually merge with the larger ‘One Nation One Subscription’ (ONOS) initiative. The agreements include perpetual rights to journals and cover Article Processing Charges (APC) for publishing in open-access journals. Incorrect Solution: c) The Department of Atomic Energy (DAE) launched the ‘One DAE One Subscription’ (ODOS). This initiative unites DAE and its 60 subunits under a single umbrella, providing access to national and international research papers and scientific journals. The ODOS will allow DAE scientists, engineers, students, and researchers to access a broader range of knowledge and publish in open-access journals. This initiative aims to make knowledge more accessible and will eventually merge with the larger ‘One Nation One Subscription’ (ONOS) initiative. The agreements include perpetual rights to journals and cover Article Processing Charges (APC) for publishing in open-access journals.

#### 9. Question

Consider the following statements regarding One DAE One Subscription (ODOS).

• One DAE One Subscription (ODOS) was launched by the Department of Atomic Energy.

• It provides access to national and international research papers and scientific journals.

• It will allow scientists, engineers, students, and researchers to publish in open-access journals.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: c)

The Department of Atomic Energy (DAE) launched the ‘One DAE One Subscription’ (ODOS).

• This initiative unites DAE and its 60 subunits under a single umbrella, providing access to national and international research papers and scientific journals.

• The ODOS will allow DAE scientists, engineers, students, and researchers to access a broader range of knowledge and publish in open-access journals.

• This initiative aims to make knowledge more accessible and will eventually merge with the larger ‘One Nation One Subscription’ (ONOS) initiative.

The agreements include perpetual rights to journals and cover Article Processing Charges (APC) for publishing in open-access journals.

Solution: c)

The Department of Atomic Energy (DAE) launched the ‘One DAE One Subscription’ (ODOS).

• This initiative unites DAE and its 60 subunits under a single umbrella, providing access to national and international research papers and scientific journals.

• The ODOS will allow DAE scientists, engineers, students, and researchers to access a broader range of knowledge and publish in open-access journals.

• This initiative aims to make knowledge more accessible and will eventually merge with the larger ‘One Nation One Subscription’ (ONOS) initiative.

The agreements include perpetual rights to journals and cover Article Processing Charges (APC) for publishing in open-access journals.

• Question 10 of 10 10. Question 1 points Consider the following statements regarding Master Direction on the treatment of Wilful Defaulters and Large Defaulters. Master Direction on the treatment of Wilful Defaulters and Large Defaulters was issued by the Union Ministry of Finance. Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default. All RBI-regulated entities must report credit information of large defaulters to credit information companies (CICs) monthly. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 1 is incorrect. The Reserve Bank of India (RBI) issued a Master Direction on the treatment of Wilful Defaulters and Large Defaulters. Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default. All RBI-regulated entities must report credit information of large defaulters, including both suit-filed and non-suit-filed accounts classified as doubtful or loss, to credit information companies (CICs) monthly. A “wilful defaulter” is defined as a borrower or guarantor with a wilful default of Rs 25 lakh and above, while a “large defaulter” has an outstanding amount of Rs 1 crore and above, either suit-filed or classified as doubtful or loss. Incorrect Solution: b) Statement 1 is incorrect. The Reserve Bank of India (RBI) issued a Master Direction on the treatment of Wilful Defaulters and Large Defaulters. Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default. All RBI-regulated entities must report credit information of large defaulters, including both suit-filed and non-suit-filed accounts classified as doubtful or loss, to credit information companies (CICs) monthly. A “wilful defaulter” is defined as a borrower or guarantor with a wilful default of Rs 25 lakh and above, while a “large defaulter” has an outstanding amount of Rs 1 crore and above, either suit-filed or classified as doubtful or loss.

#### 10. Question

Consider the following statements regarding Master Direction on the treatment of Wilful Defaulters and Large Defaulters.

• Master Direction on the treatment of Wilful Defaulters and Large Defaulters was issued by the Union Ministry of Finance.

• Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default.

• All RBI-regulated entities must report credit information of large defaulters to credit information companies (CICs) monthly.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

Statement 1 is incorrect.

The Reserve Bank of India (RBI) issued a Master Direction on the treatment of Wilful Defaulters and Large Defaulters.

• Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default.

• All RBI-regulated entities must report credit information of large defaulters, including both suit-filed and non-suit-filed accounts classified as doubtful or loss, to credit information companies (CICs) monthly.

A “wilful defaulter” is defined as a borrower or guarantor with a wilful default of Rs 25 lakh and above, while a “large defaulter” has an outstanding amount of Rs 1 crore and above, either suit-filed or classified as doubtful or loss.

Solution: b)

Statement 1 is incorrect.

The Reserve Bank of India (RBI) issued a Master Direction on the treatment of Wilful Defaulters and Large Defaulters.

• Under this directive, banks and NBFCs must scrutinize all non-performing asset accounts with outstanding amounts of Rs 25 lakh and above for wilful default.

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