Current Affairs MCQ for UPSC Exams - 16 March 2018

Q1. Which of the following statements are true about IBC 2016?

i) The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.
ii) The bankruptcy code is a one stop solution for resolving insolvencies which at present is a long process and does not offer an economically viable arrangement.
iii) The code will be able to protect the interests of small investors and make the process of doing business a less cumbersome process.

a) Only i
b) Only ii,iii
c) Only i, ii
d) All of the above

Q2. Which of the following statements are true about WTO?

i) The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade.
ii) It commenced under the Marrakesh Agreement, signed by 123 nations.
iii) The WTO deals with regulation of trade in goods, services and intellectual property between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member governmentsand ratified by their parliaments.

a) Only i
b) Only ii,iii
c) Only i, ii
d) All of the above