IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
With reference to the Account Aggregator framework, seen recently in news, consider the following statements:
- An Account Aggregator provides the service of retrieving or collecting financial information pertaining to its customer.
- The licence for Account Aggregator is issued by the RBI.
Which of the above statements is/are correct?
Correct
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Correct According to the Reserve Bank of India, an Account Aggregator is a non-banking financial company engaged in the business of providing, under a contract, the service of retrieving or collecting financial information pertaining to its customer. It is also engaged in consolidating, organising and presenting such information to the customer or any other financial information user as may be specified by the bank The AA framework was created through an inter-regulatory decision by RBI and other regulators including Securities and Exchange Board of India, Insurance Regulatory and Development Authority, and Pension Fund Regulatory and Development Authority (PFRDA) through and initiative of the Financial Stability and Development Council (FSDC) Context – A new framework was launched for Account Aggregators
Incorrect
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Correct According to the Reserve Bank of India, an Account Aggregator is a non-banking financial company engaged in the business of providing, under a contract, the service of retrieving or collecting financial information pertaining to its customer. It is also engaged in consolidating, organising and presenting such information to the customer or any other financial information user as may be specified by the bank The AA framework was created through an inter-regulatory decision by RBI and other regulators including Securities and Exchange Board of India, Insurance Regulatory and Development Authority, and Pension Fund Regulatory and Development Authority (PFRDA) through and initiative of the Financial Stability and Development Council (FSDC) Context – A new framework was launched for Account Aggregators
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Question 2 of 5
2. Question
Manda Buffalo is an indigenous breed belonging to:
Correct
Solution (c)
The Manda buffaloes are resistant to parasitic infections, less prone to diseases and can live, produce and reproduce at low or nil input systems. These are found in the Eastern Ghats and plateau of Koraput region of Odisha. The small, sturdy buffaloes are used for ploughing in their native habitat of the Koraput, Malkangiri and Nabarangpur districts. There are around 1,00,000 buffaloes of this breed in the native tract mostly contributing to the family nutrition of households and assisting in all the agricultural operations in the undulated hilly terrain for generations. The average milk yield of these buffaloes is 2 to 2.5 litres in single milking with more than 8% fat. However, a few of those yield up to 4 litres.
Context – Mando Buffalo got indigeneous tag
Incorrect
Solution (c)
The Manda buffaloes are resistant to parasitic infections, less prone to diseases and can live, produce and reproduce at low or nil input systems. These are found in the Eastern Ghats and plateau of Koraput region of Odisha. The small, sturdy buffaloes are used for ploughing in their native habitat of the Koraput, Malkangiri and Nabarangpur districts. There are around 1,00,000 buffaloes of this breed in the native tract mostly contributing to the family nutrition of households and assisting in all the agricultural operations in the undulated hilly terrain for generations. The average milk yield of these buffaloes is 2 to 2.5 litres in single milking with more than 8% fat. However, a few of those yield up to 4 litres.
Context – Mando Buffalo got indigeneous tag
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Question 3 of 5
3. Question
Consider the following statements regarding Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme:
- It aims at providing financial assistance for the transport and marketing of agricultural products to boost exports.
- It is a scheme of the Ministry of Agriculture and Farmer’s Welfare.
- The scheme provides 100% freight and marketing assistance for export of agricultural products by air as well as by sea.
Which of the above statements is/are correct?
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Incorrect The objective of this scheme is to provide assistance for the international component of freight, to mitigate disadvantage of higher freight costs faced by the Indian exporters of agriculture products Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme was launched in 2019 by the Department of Commerce under the Ministry of Commerce and Industry. Recently, the Department has notified ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for exports effected on or after 01.04.2021 up to 31.03.2022. The existing scheme will remain in operation for exports effected up to 31.03.2021. Following major changes have been made in the revised scheme: -
- Dairy products, which were not covered under the earlier scheme, will be eligible for assistance under the revised scheme.
- Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air
Context – The provisions of the scheme were revised
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Incorrect Incorrect The objective of this scheme is to provide assistance for the international component of freight, to mitigate disadvantage of higher freight costs faced by the Indian exporters of agriculture products Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme was launched in 2019 by the Department of Commerce under the Ministry of Commerce and Industry. Recently, the Department has notified ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for exports effected on or after 01.04.2021 up to 31.03.2022. The existing scheme will remain in operation for exports effected up to 31.03.2021. Following major changes have been made in the revised scheme: -
- Dairy products, which were not covered under the earlier scheme, will be eligible for assistance under the revised scheme.
- Rates of assistance have been increased, by 50% for exports by sea and by 100% for exports by air
Context – The provisions of the scheme were revised
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Question 4 of 5
4. Question
Consider the following statements regarding Shoonya Campaign
- It is launched by the Ministry of Road Transport and Highways.
- It aims to accelerate adoption of electric vehicles in all the areas.
Which of the above statements is/are correct?
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Shoonya Campaign is lauched by Niti Aayog in collaboration with Rocky Mountain Institute (RMI). It aims to accelerate the adoption of electric vehicles (EVs) in the urban deliveries segment and create consumer awareness about the benefits of zero-pollution delivery. Context – NITI Aayog launched ‘Shoonya’ Campaign.
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Shoonya Campaign is lauched by Niti Aayog in collaboration with Rocky Mountain Institute (RMI). It aims to accelerate the adoption of electric vehicles (EVs) in the urban deliveries segment and create consumer awareness about the benefits of zero-pollution delivery. Context – NITI Aayog launched ‘Shoonya’ Campaign.
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Question 5 of 5
5. Question
Which of the following countries are part of the grouping called AUKUS, seen recently in news?
- UAE
- UK
- South Africa
- Australia
Choose the correct answer from the codes given below:
Correct
Solution (c)
AUKUS is a new trilateral security partnership for the Indo-Pacific between Australia, the U.K. and the U.S. (AUKUS). The grouping is security focused. A central feature of the partnership would involve a trilateral 18-month effort to help Australia acquire nuclear-powered submarines which are quieter, more capable and can be deployed for longer periods, needing to surface less frequently. The partnership would also involve a new architecture of meetings and engagements between the three countries and also cooperation across emerging technologies (applied AI, quantum technologies and undersea capabilities).
Context – The grouping was recently launched.
Incorrect
Solution (c)
AUKUS is a new trilateral security partnership for the Indo-Pacific between Australia, the U.K. and the U.S. (AUKUS). The grouping is security focused. A central feature of the partnership would involve a trilateral 18-month effort to help Australia acquire nuclear-powered submarines which are quieter, more capable and can be deployed for longer periods, needing to surface less frequently. The partnership would also involve a new architecture of meetings and engagements between the three countries and also cooperation across emerging technologies (applied AI, quantum technologies and undersea capabilities).
Context – The grouping was recently launched.
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