UPSC Quiz – 2021 : IASbaba’s Daily Current Affairs Quiz 1st September 2021

Solution (c)

Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, a basic savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner. 

Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.

Benefits under the PMJDY are:

• One basic savings bank account is opened for unbanked person.
• There is no requirement to maintain any minimum balance in PMJDY accounts.
• Interest is earned on the deposit in PMJDY accounts.
• Rupay Debit card is provided to PMJDY account holder.
• Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.
• An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
• PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.

Article Link: Pradhan Mantri Jan-Dhan Yojana (PMJDY) – National Mission for Financial Inclusion, completes seven years of successful implementation

Solution (a)

The Tapovan Vishnugad power plant is a 520MW run-of-river project being constructed on Dhauliganga River in Chamoli District of Uttarakhand. It was constructed by National Thermal Power Corporation Limited(NTPC).

The Vishnugad Pipalkoti Hydro Electric Project is located near village Haatgoan in Chamoli, is being built on Alaknanda river, a main tributary of Ganga.

Tehri Dam in Uttarakhand is the highest dam in India built on Bhagirathi River. It is around 260.5 metre high and 592 metre long.

Article Link: Ministries reach consensus on hydropower projects in Himalayas

Solution (d)

A foreign direct investment (FDI) is a purchase of an interest in a company by a company or an investor located outside its borders.

Generally, the term is used to describe a business decision to acquire a substantial stake in a foreign business or to buy it outright in order to expand its operations to a new region. It is not usually used to describe a stock investment in a foreign company.

Foreign direct investment offers advantages to both the investor and the foreign host country. These incentives encourage both parties to engage in and allow FDI.

The following are some of the benefits for the host country:

• Economic stimulation
• Development of human capitalHuman CapitalHuman capital is basically a measure of the education, skills, and other production attributes of a human resource that can influence their
• Increase in employment
• Access to management expertise, skills, and technology

For businesses, most of these benefits are based on cost-cutting and lowering risk. For host countries, the benefits are mainly economic.

Despite many benefits, the entry of large firms, such as Walmart, may displace local businesses. Walmart is often criticized for driving out local businesses that cannot compete with its lower prices.

Article Link: FDI equity inflows up 168% to USD 17.57 billion during April-June 2021-22

Solution (b)

Part XV of the Constitution of India consists of Articles on Elections.

Article 324 to 329 of the Indian Constitution deals with the powers, function, tenure, eligibility, etc of the commission and the members.

Originally, it had only one election commissioner but after the Election Commissioner Amendment Act 1989, it has been made a multi-member body.

Presently, it consists of one Chief Election Commissioner (CEC) and two Election Commissioners (ECs) – appointed by the President.

Article Link: ECI organizes two-day SVEEP Consultation Workshop

Solution (a)

The Deoband Movement was organised by the orthodox section among the Muslim ulema as a revivalist movement with the twin objectives of propagating pure teachings of the Quran and Hadis among Muslims and keeping alive the spirit of jihad against the foreign rulers.

The Deoband Movement was established in Deoband in Saharanpur district (United Provinces) in 1866 by Mohammad Qasim Nanotavi (1832-80) and Rashid Ahmed Gangohi (1828- 1905) to train religious leaders for the Muslim community.

In contrast to the Aligarh Movement, which aimed at the welfare of Muslims through western education and support of the British Government, the aim of the Deoband Movement was moral and religious regeneration of the Muslim community. The instruction imparted at Deoband was in original Islamic religion.

On the political front, the Deoband School welcomed the formation of the Indian National Congress and in 1888 issued a fatwa (religious decree) against Syed Ahmed Khan’s organisations.

Article Link: We’re Indians first, Taliban view of Islam not ours, say Deoband Islamic scholars, locals