Daily Current Affairs for UPSC 2022
Q) Consider the following statements regarding Liquidity adjustment facility (LAF)
- The RBI introduced the LAF because of the Narasimhan Committee on Banking Sector Reforms I (1991).
- It is an action by the RBI through which it injects or absorbs liquidity into or from the banking system.
- This system offers banks the opportunity to borrow money through repurchase agreements or repos or to make loans to the RBI via reverse repo agreements.
Which of these statements are correct?
- 1 and 3 only
- 2 only
- 3 only
- 2 and 3 only
Daily Current Affairs for UPSC – 23rd September 2022
Explanation:
LAF: It is an action by the RBI through which it injects or absorbs liquidity into or from the banking system. (Statement 2 is correct)
- This system offers banks the opportunity to borrow money through repurchase agreements or repos or to make loans to the RBI via reverse repo agreements. (Statement 3 is correct)
- This arrangement is effective in managing liquidity pressures and assuring basic stability in the financial markets.
- The RBI introduced the LAF because of the Narasimhan Committee on Banking Sector Reforms II (1998). (Statement 1 is not correct)
Q) Consider the following terms related to financial markets in India
- Call money rate is defined as the rate at which short term funds are borrowed and lent in the money market. The duration of call money is 14 days.
- T-bills: Treasury Bills are money market instruments issued by the central bank (on behalf of the government) to raise money for a short duration (less than 1 year)
- MCLR (Marginal Cost of Funds Based Landing Rate) is the maximum interest rate above which financial institutions cannot lend money, except for certain cases.
Which of these statements are not correct?
- 2 only
- 1 and 3 only
- 1 and 2 only
- 3 only
Explanation:
Important terms:
- Call money: Call money rate is defined as the rate at which short term funds are borrowed and lent in the money market. The duration of call money is 1 day. (Statement 1 is not correct)
- T-bills: Treasury Bills are money market instruments issued by the central bank (on behalf of the government) to raise money for a short duration (less than 1 year). (Statement 2 is correct)
- Repo rate: It is the rate at which the central bank of a country lends money to commercial banks. It is an important monetary policy tool.
- Marginal Cost of funds-based Lending Rate (MCLR): MCLR (Marginal Cost of Funds Based Landing Rate) is the minimum interest rate below which financial institutions cannot lend money, except for certain cases. (Statement 3 is not correct)
Q) Consider the following statements regarding Carbon Dating
- Carbon dating is a widely used method applied to establish the age of organic material, things that were once living.
- The dating method makes use of C-16 (radioactive), which is radioactive, and decays.
- Carbon-16 reduces to one-half of itself in about 5,730 years.
Which of these statements are correct?
- 1 and 2 only
- 1 and 3 only
- 1 only
- 2 and 3 only
Explanation:
About Carbon Dating
- Carbon dating is a widely-used method applied to establish the age of organic material, things that were once living. (Statement 1 is correct)
- Methodology: The dating method makes use of C-14 (radioactive), which is radioactive, and decays. (Statement 2 is not correct)
- The most abundant isotope of carbon in the atmosphere is carbon-12. A very small amount of carbon-14 is also present. The ratio of carbon-12 to carbon-14 (C-14) in the atmosphere is almost static and known
Half Life of Carbon
- Carbon-14 reduces to one-half of itself in about 5,730 years. (Statement 3 is not correct)
- This is known as its ‘half-life’.
Q) Consider the following statements regarding Shanghai Cooperation Organisation
- It’s a Eurasian political, economic and military organization aiming to maintain peace, security and stability in the region.
- It was started with Shanghai five with Kazakhstan, China, Kyrgyzstan, Russia and Uzbekistan in 1996.
- India became member in 2017 and post that Pakistan was inducted in 2018.
Which of these statements are not correct?
- 2 only
- 1 and 2 only
- 1 and 3 only
- 2 and 3 only
Explanation:
What is Shanghai Cooperation Organization (SCO)?
- About:
- SCO is a permanent intergovernmental international organization.
- It’s a Eurasian political, economic and military organization aiming to maintain peace, security and stability in the region. (Statement 1 is correct)
- It was created in 2001.
- The SCO Charter was signed in 2002, and entered into force in 2003.
- Genesis:
- Prior to the creation of SCO in 2001, Kazakhstan, China, Kyrgyzstan, Russia and Tajikistan were members of the Shanghai Five. (Statement 2 is not correct)
- Shanghai Five (1996) emerged from a series of border demarcation and demilitarization talks which the four former Soviet republics held with China to ensure stability along the borders.
- Following the accession of Uzbekistan to the organization in 2001, the Shanghai Five was renamed the SCO.
- India and Pakistan became members in 2017. (Statement 3 is not correct)
Q) Arrange the following states in descending order of subsidy expenditure on power in financial year 2022.
- Rajasthan
- Punjab
- Madhya Pradesh
- Bihar
Choose the correct option.
- 1>2>3>4
- 2>1>3>4
- 2>3>1>4
- 1>3>3>4
Explanation:
Q) Consider the following statistics from the recently released Sample Registration System (SRS) Statistical Report 2020
- Under 5 Mortality Rate (U5MR) :Registered an annual decline of 8.6% from 2019 to 2020 (32 per 1000 live births in 2020 against 35 per 1000 live births in 2019).
- Infant Mortality Rate (IMR): Registered an annual increase of 1.7% from 2019 to 2020 (30 per 1000 live births in 2020 against 28 per 1000 live births in 2019).
- Neonatal Mortality Rate (NMR): Registered an annual decline of 9.1% from 2019 to 2020 (22 per 1000 live births in 2019 against 20 per 1000 live births in 2020).
Which of these statements are correct?
- 1 and 3 only
- 2 only
- 2 and 3 only
- 1 and 2 only
Explanation:
- The Sample Registration System (SRS) Statistical Report 2020 was released by the Registrar General of India.
Key highlights of the report on ‘Child mortality’:
Under 5 Mortality Rate (U5MR)
- Registered an annual decline of 8.6% from 2019 to 2020 (32 per 1000 live births in 2020 against 35 per 1000 live births in 2019). (Statement 1 is correct)
- It varies from 36 in rural areas to 21 in urban areas.
- U5MR for Female is higher (33) than male (31).
- Highest decline of U5MR is observed in the State of Uttar Pradesh (5 points) and Karnataka (5 points).
Infant Mortality Rate (IMR)
- Registered an annual decline of 6.7% from 2019 to 2020 (28 per 1000 live births in 2020 against 30 per 1000 live births in 2019). (Statement 2 is not correct)
- The Rural-Urban difference has narrowed to 12 points (Urban 19, Rural-31).
- No gender differential has observed in 2020 (Male -28, Female – 28).
Neonatal Mortality Rate (NMR)
- Registered an annual decline of 9.1% from 2019 to 2020 (22 per 1000 live births in 2019 against 20 per 1000 live births in 2020). (Statement 3 is correct)
- It ranges from 12 in urban areas to 23 in rural areas
Q) Consider the following statements regarding PM Cares Fund
- It was created during the COVID 19 pandemic
- The fund consists entirely of voluntary contributions from individuals/organizations with a budgetary support of 100 crores in the first two years.
- Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act.
Which of these statements are correct?
- 1 and 2 only
- 3 only
- All of the above
- 1 and 3 only
Explanation:
About PM CARES Fund
- It was created during the Covid-19 pandemic. (Statement 1 is correct)
- Objective: To deal with any kind of emergency or distress situation, like posed by the pandemic, and to provide relief to the affected individuals.
- The fund consists entirely of voluntary contributions from individuals/organizations and does not get any budgetary support. (Statement 2 is not correct)
- Donations to PM CARES Fund would qualify for 80G benefits for 100% exemption under the Income Tax Act. (Statement 3 is correct)
- A total of ₹7,031.99 crore was collected under PM CARES Fund between 2020-21.
Q) Recently in news, Innovation Roadmap of the Mission Integrated Biorefineries was launched at –
- COP 21 at Paris
- COP 26 at Glasgow
- Global Clean Energy Action Forum
- World Economic Forum
Explanation:
Context: The launch of the “Innovation Roadmap of the Mission Integrated Biorefineries” was announced by the Union government.
About the mission
- The initiative was launched with active inputs from Brazil, Canada, EC and the UK at the Global Clean Energy Action Forum-2022 in Pittsburgh, in the United States.
- The Mission seeks greater international collaboration and the increased financing for energy research, development, and demonstration (RD&D) during the next five years.
Q) Recently announced, Mehar Baba Competition-II relates to which of the following?
- Yoga
- Meditational Values
- Islamic Scholarship
- None of the above
Explanation:
Context: The government has announced registrations for “Mehar Baba Competition-II”, which is aimed at developing technology for a “Swarm Drone Based System to Detect Foreign Objects on Aircraft Operating Surfaces”.
What are Swarm Drones?
- SWARM is an acronym for ‘Smart War-Fighting Array of Reconfigured Modules’.
- The basic ‘Drone Swarm Technology’ revolves around the ability of a very large number of drones, generally in the mini/micro category to autonomously make decisions based on shared information.
- In simple terms it is like a hive of bees geared towards a single larger objective but each bee capable of acting on its own in relation to other bees to meet that objective.
Q) Consider the following statements regarding Avalanche
- An avalanche is a rapid flow of snow down a slope, such as a hill or mountain.
- Avalanches can be triggered by wind, rain, warming temperatures, heavy snowfall, earthquakes and human activity such as snow sports and vibration etc.
- Himachal Pradesh got the first avalanche monitoring radar system.
Which of these statements are correct?
- 1 and 3 only
- 1 and 2 only
- All of the above
- 2 and 3 only
Explanation:
- India’s first avalanche monitoring radar system has been installed in North Sikkim by the Army and Defence Geoinformatics and Research Establishment (DGRE) (Statement 3 is not correct)
What are Avalanches?
- An avalanche is a rapid flow of snow down a slope, such as a hill or mountain. (Statement 1 is correct)
- Causes: Avalanches can be triggered by wind, rain, warming temperatures, heavy snowfall, earthquakes and human activity such as snow sports and vibration etc. (Statement 2 is correct)
- Types of Avalanches
- Slab avalanches made of tightly packed snow, triggered by a collapse of an underlying weak snow layer.
- Sluff avalanches occur when the weak layer of a snowpack is on the top (Sluffs are much less dangerous than slab avalanches).
- Cornices are overhanging masses of wind-deposited snow that protrude from sharp terrain features like ridges or peaks.
- Powder snow avalanches where snow grains are largely or completely suspended and moved by air in a state of fluid turbulence.
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