UPSC Quiz – 2021 : IASbaba’s Daily Current Affairs Quiz 4th JUNE 2021

Solution (d)

SATAT stands for Sustainable Alternative Towards Affordable Transportation.

It is an initiative aimed at setting up compressed Bio-Gas production plants and makes them available in the market for use in automotive fuels by inviting Expression of Interest from potential entrepreneurs.

It was launched by the Ministry of Petroleum and Natural Gas in association with the PSUs- Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd. and Hindustan Petroleum Corporation Ltd.

Article Link: Shri Dharmendra Pradhan presides over a slew of initiatives around Compressed Bio Gas to give filip to SATAT scheme

Solution (b)

Grey Market IPO is an unofficial market where individuals buy/sell IPO shares or applications before they are officially launched for trading on the stock exchange. As it is an unofficial over-the-counter market, there are no regulations around it. All transactions are done in cash on a personal basis. Any 3rd party firms like the Securities and Exchange Board of India (SEBI), Stock Exchange or Brokers are not involved or back this transaction.

The grey market is an unofficial market, whereas the IPO market is an official recognized medium of raising funds in the market under SEBI regulation. The IPO market and the IPO grey market do not have any official connection.

Article Link: Paytm shares go past Rs. 21,000 in grey market

Solution (a)

AmbiTag is India’s first indigenous temperature data logger for cold chain management.

AmbiTag records real-time ambient temperature during the transportation of perishable products, vaccines and even body organs and blood. That recorded temperature further helps to know whether that particular item transported from anywhere in the world is still usable or perished because of temperature variation. This information is particularly critical for vaccines including Covid-19 vaccine, organs and blood transportation. 

It is a first-of-its kind Internet of Things (IoT) device developed by Indian Institute of Technology, Ropar (IIT Ropar) in Punjab.

Besides perishable items including vegetables, meat and dairy products it can also monitor the temperature of animal semen during transit. So far, such devices are being imported by India in a massive quantity from other countries such as Singapore, Hong Kong, Ireland, and China. It is a push towards Atmanirbhar Bharat.

Article Link: IIT Ropar develops ‘AmbiTag’ to record real-time ambient temperature

Solution (c)

Variable capital Company is a new corporate structure for investment funds. It has a variable capital structure that provides flexibility in the issuance and redemption of its shares.

It can be set up as a single standalone fund or an umbrella fund with two or more sub-funds, each holding a portfolio of segregated assets and liabilities.

It is basically an alternative form of corporate vehicle that dispenses with some of the key limitations of companies and limited liability partnerships (LLPs). It can be used for both open-ended and closed ended alternative and traditional fund strategies.

Article Link: Fund management activity: Variable Capital Company structure recommended in IFSCs

Solution (c)

Mount Nyiragongo is part of the Virunga volcanic chain and owes its existence to the activity of the African Great Rift. The rift is constantly extending and opening. Mount Nyiragongo is an active stratovolcano with an elevation of 3,470 m. It is located inside Virunga National Park, in the Democratic Republic of the Congo.

Nyiragongo’s lava lake has at times been the most voluminous known lava lake in recent history. 

Nyiragongo and nearby Nyamuragira are together responsible for 40% of Africa’s historical volcanic eruptions.

Article Link: Mount Nyiragongo’s volcano: why it’s unique and treacherous