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
Consider the following statements about ‘Export-Import Bank of India’
- It is a specialized financial institution wholly owned by the Government of India
- Exim Bank extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks and sovereign governments
- Pre-shipment credit is provided by the bank in foreign currency alone to import raw materials and other inputs for export production
Choose the correct answer using the code given below
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect EXIM bank is a specialized financial institution wholly owned by the Government of India. It was established by the Government of India, under the Export-Import Bank of India Act, 1981 Exim Bank extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms. Pre-Shipment credit is provided in Indian and foreign currency to support the company with appropriate access to finance at the manufacturing stage. Such credit facilities enable exporters to purchase raw materials and other inputs, and enables provision of Rupee/FC mobilization expenses for construction/turnkey projects. EXIM bank also provides foreign currency pre-shipment credit facility to import raw materials and other inputs for export production. Context – Union Finance Minister recently announced the setting up of a subsidiary of EXIM Bank and data embassies at GIFT City in Gujarat
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect EXIM bank is a specialized financial institution wholly owned by the Government of India. It was established by the Government of India, under the Export-Import Bank of India Act, 1981 Exim Bank extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms. Pre-Shipment credit is provided in Indian and foreign currency to support the company with appropriate access to finance at the manufacturing stage. Such credit facilities enable exporters to purchase raw materials and other inputs, and enables provision of Rupee/FC mobilization expenses for construction/turnkey projects. EXIM bank also provides foreign currency pre-shipment credit facility to import raw materials and other inputs for export production. Context – Union Finance Minister recently announced the setting up of a subsidiary of EXIM Bank and data embassies at GIFT City in Gujarat
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Question 2 of 5
2. Question
With reference to ‘Urban Infrastructure Development Fund (UIDF)’, consider the following statements
- UIDF will be established through the use of priority sector lending shortfall and will be managed by the Micro Units Development and Refinance Agency Bank
- The fund will be used by public agencies to create urban infrastructure in tier-1 and tier-2 cities
Select the correct statement(s)
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect UIDF will be established through the use of priority sector lending shortfall. It will be managed by the National Housing Bank. It will be established on the lines of the Rural Infrastructure Development Fund (RIDF). The fund will be used by public agencies to create urban infrastructure in tier-2 and tier-3 cities. States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF. Context – Urban Infrastructure Development Fund (UIDF) was announced by the Union Finance Minister during her speech for the 2023-24 budget
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect UIDF will be established through the use of priority sector lending shortfall. It will be managed by the National Housing Bank. It will be established on the lines of the Rural Infrastructure Development Fund (RIDF). The fund will be used by public agencies to create urban infrastructure in tier-2 and tier-3 cities. States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF. Context – Urban Infrastructure Development Fund (UIDF) was announced by the Union Finance Minister during her speech for the 2023-24 budget
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Question 3 of 5
3. Question
Consider the following statements about ‘Pradhan Mantri PVTG (Particularly Vulnerable Tribal Groups) Development Mission’
- This mission aims to provide basic necessities such as housing, water, roads, internet connectivity, education, and health in areas inhabited by PVTGs
- 5,000 crore will be made available to implement the Mission in the next five years under the Development Action Plan for the Scheduled Tribes
Select the correct statement(s)
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect This mission aims to provide basic necessities such as housing, water, roads, telecom, education, and health in areas inhabited by PVTGs, who are the most vulnerable and backward tribes among the Scheduled Tribes. Rs.15,000 crore will be made available to implement the Mission in the next three years under the Development Action Plan for the Scheduled Tribes. Context – Pradhan Mantri PVTG Development Mission will be launched soon
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect This mission aims to provide basic necessities such as housing, water, roads, telecom, education, and health in areas inhabited by PVTGs, who are the most vulnerable and backward tribes among the Scheduled Tribes. Rs.15,000 crore will be made available to implement the Mission in the next three years under the Development Action Plan for the Scheduled Tribes. Context – Pradhan Mantri PVTG Development Mission will be launched soon
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Question 4 of 5
4. Question
With reference to ‘Red Sanders’, consider the following statements
- It is a flora species that is endemic to a distinct tract of forests in the Eastern Ghats
- This tree is valued for the rich red colour of its wood and strong aroma
- It usually grows in rocky, degraded and fallow lands with red Soil and hot and wet climate
- It is classified as ‘Endangered’ under IUCN and is protected under Schedule 4 of the Wildlife Protection Act of 1972
Choose the correct answer using the code given below
Correct
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Statement 4 Correct Incorrect Incorrect Correct Red Sanders, Pterocarpus santalinus, is an Indian endemic tree species, with a restricted geographical range in the Eastern Ghats. The species is endemic to a distinct tract of forests in Andhra Pradesh. Red Sanders is valued for the rich red colour of its wood. The wood is traditionally considered not aromatic. The tree is not to be confused with the aromatic Santalum sandalwood trees that grow natively in Southern India. It usually grows in rocky, degraded and fallow lands with Red Soil and a hot and dry climate. It is classified as ‘Endangered’ under IUCN and is protected under Schedule 4 of the Wildlife Protection Act of 1972. It comes under Appendix 2 of CITES Context – About 20,000 tonnes of Red Sanders were smuggled from India between 2016 and 2020 according to The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) report.
Incorrect
Solution(c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Statement 4 Correct Incorrect Incorrect Correct Red Sanders, Pterocarpus santalinus, is an Indian endemic tree species, with a restricted geographical range in the Eastern Ghats. The species is endemic to a distinct tract of forests in Andhra Pradesh. Red Sanders is valued for the rich red colour of its wood. The wood is traditionally considered not aromatic. The tree is not to be confused with the aromatic Santalum sandalwood trees that grow natively in Southern India. It usually grows in rocky, degraded and fallow lands with Red Soil and a hot and dry climate. It is classified as ‘Endangered’ under IUCN and is protected under Schedule 4 of the Wildlife Protection Act of 1972. It comes under Appendix 2 of CITES Context – About 20,000 tonnes of Red Sanders were smuggled from India between 2016 and 2020 according to The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) report.
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Question 5 of 5
5. Question
‘Yaya Tso’ a lake seen in news recently is located in
Correct
Solution(b)
Lake Yaya Tso is known as a bird’s paradise for its beautiful lake located at an altitude of 4,820 metres in Ladakh. It is also one of the highest breeding sites of the black-necked crane in India. Yaya Tso is set to become Ladakh’s first biodiversity heritage site.
Context – It has been proposed as Ladakh’s first biodiversity heritage site (BHS).
Incorrect
Solution(b)
Lake Yaya Tso is known as a bird’s paradise for its beautiful lake located at an altitude of 4,820 metres in Ladakh. It is also one of the highest breeding sites of the black-necked crane in India. Yaya Tso is set to become Ladakh’s first biodiversity heritage site.
Context – It has been proposed as Ladakh’s first biodiversity heritage site (BHS).
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