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 with respect to ‘SCORES platform’
- It is a web based centralized grievance redress system of Securities and Exchange Board of India’s (SEBI)
- Complaints can be lodged on SCORES for any issue covered under the provisions of Companies Act
- Mutual funds, Portfolio Managers and Foreign institutional investor are also included under the ambit of SCORES
How many of the statement(s) given above are correct
Correct
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct SCORES is a web based centralized grievance redress system of SEBI that was launched in June 2011. SCORES enables investors to lodge and follow up their complaints and track the status of redressal of such complaints online from the above website from anywhere. According to the regulatory authority, complaints can be lodged on SCORES for any issues covered under the Sebi Act, Securities Contract Regulation Act, Depositories Act, and rules and regulations and provisions of Companies Act, 2013. Entities against which complaints are handled by SEBI include: Listed companies / registrar & transfer agents Brokers / stock exchanges Depository participants / depository /Mutual funds Portfolio Managers Context – A total of 3,079 complaints against companies and market intermediaries have been disposed of through the Securities and Exchange Board of India’s (SEBI) SCORES platform recently.
Incorrect
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Correct SCORES is a web based centralized grievance redress system of SEBI that was launched in June 2011. SCORES enables investors to lodge and follow up their complaints and track the status of redressal of such complaints online from the above website from anywhere. According to the regulatory authority, complaints can be lodged on SCORES for any issues covered under the Sebi Act, Securities Contract Regulation Act, Depositories Act, and rules and regulations and provisions of Companies Act, 2013. Entities against which complaints are handled by SEBI include: Listed companies / registrar & transfer agents Brokers / stock exchanges Depository participants / depository /Mutual funds Portfolio Managers Context – A total of 3,079 complaints against companies and market intermediaries have been disposed of through the Securities and Exchange Board of India’s (SEBI) SCORES platform recently.
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Question 2 of 5
2. Question
Consider the following statements with respect to ‘Prevention of Money Laundering Act (PMLA)’
- Enforcement Directorate (ED) in the Ministry of Corporate Affairs is responsible for investigating the offences of money laundering under the PMLA
- The Act does not define the terms ‘Money Laundering’ and ‘Proceeds of Crime’
- Burden of proof lies on the person accused of having committed the offence of money laundering
How many of the statement(s) given above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct Prevention of Money Laundering Act (PMLA) is an Act to prevent money laundering and to provide for the confiscation of property derived from or involved in money laundering. The Enforcement Directorate (ED) in the Department of Revenue, Ministry of Finance, is responsible for investigating the offences of money laundering under the PMLA. Key definitions Attachment: Prohibition of transfer, conversion, disposition or movement of property by an appropriate legal order.
Proceeds of crime: Any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence.
Money-laundering: Whosoever directly or indirectly attempts to indulge or assist other person or actually involved in any activity connected with the proceeds of crime and projecting it as untainted property.
Burden of proof lies on the person, who is accused of having committed the offence of money laundering, has to prove that alleged proceeds of crime are in fact lawful property. Context – The Central Government recently issued a notification to bring the Goods & Services Tax Network (GSTN) under the purview of the Prevention of Money Laundering Act (PMLA).
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct Prevention of Money Laundering Act (PMLA) is an Act to prevent money laundering and to provide for the confiscation of property derived from or involved in money laundering. The Enforcement Directorate (ED) in the Department of Revenue, Ministry of Finance, is responsible for investigating the offences of money laundering under the PMLA. Key definitions Attachment: Prohibition of transfer, conversion, disposition or movement of property by an appropriate legal order.
Proceeds of crime: Any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence.
Money-laundering: Whosoever directly or indirectly attempts to indulge or assist other person or actually involved in any activity connected with the proceeds of crime and projecting it as untainted property.
Burden of proof lies on the person, who is accused of having committed the offence of money laundering, has to prove that alleged proceeds of crime are in fact lawful property. Context – The Central Government recently issued a notification to bring the Goods & Services Tax Network (GSTN) under the purview of the Prevention of Money Laundering Act (PMLA).
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Question 3 of 5
3. Question
With reference to ‘Enteroviruses’, consider the following statements
- It is a genus of double-stranded RNA viruses associated with several human and mammalian diseases
- All enteroviruses are antigenically homogeneous and have wide geographic distribution
Select the correct statement(s)
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Enterovirus is a genus of positive-sense single-stranded RNA viruses associated with several human and mammalian diseases. Enteroviruses are named by their transmission-route through the intestine (‘enteric’ meaning intestinal). All enteroviruses are antigenically heterogeneous and have wide geographic distribution. They can infect anyone, but are more likely to cause illnesses in people with weak immune systems, as well as infants, children, and teens who don’t have immunity against a virus yet because it’s their first exposure to it. Context – The World Health Organization (WHO) has warned against the rising incidence of enterovirus infections in a few countries across Europe
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Enterovirus is a genus of positive-sense single-stranded RNA viruses associated with several human and mammalian diseases. Enteroviruses are named by their transmission-route through the intestine (‘enteric’ meaning intestinal). All enteroviruses are antigenically heterogeneous and have wide geographic distribution. They can infect anyone, but are more likely to cause illnesses in people with weak immune systems, as well as infants, children, and teens who don’t have immunity against a virus yet because it’s their first exposure to it. Context – The World Health Organization (WHO) has warned against the rising incidence of enterovirus infections in a few countries across Europe
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Question 4 of 5
4. Question
With reference to ‘Geocoding’, consider the following statements
Statement 1 – It converts an address or description of a location into geographic coordinates
Statement 2 – It has been introduced to prevent fraud in schemes like MGNREGA
Which one of the following is correct in respect of the above statements?
Correct
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Geocoding converts an address or description of a location into geographic coordinates. The functionality is available for normal, composition, SEZ units, SEZ developers, input service distributor and casual taxpayers who are active, cancelled, and suspended. This is a one-time activity and once submitted, revision in the address is not allowed. It has been introduced to ensure the accuracy of address details in GSTN records and streamline the address location and verification process. It is different from geo-tagging of assets created under MGNREGA which involves generation of an asset ID on the NREGS Soft after completion of work and marking it as a primary asset by the programme officer or the Gram Panchayat Context – Goods and Services Tax Network (GSTN) made the geocoding functionality live for all states and union territories.
Incorrect
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Geocoding converts an address or description of a location into geographic coordinates. The functionality is available for normal, composition, SEZ units, SEZ developers, input service distributor and casual taxpayers who are active, cancelled, and suspended. This is a one-time activity and once submitted, revision in the address is not allowed. It has been introduced to ensure the accuracy of address details in GSTN records and streamline the address location and verification process. It is different from geo-tagging of assets created under MGNREGA which involves generation of an asset ID on the NREGS Soft after completion of work and marking it as a primary asset by the programme officer or the Gram Panchayat Context – Goods and Services Tax Network (GSTN) made the geocoding functionality live for all states and union territories.
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Question 5 of 5
5. Question
‘EXERCISE – SALVEX’ was recently conducted between India and
Correct
Solution (c)
EXERCISE – SALVEX – Indian Navy – US Navy have been participating in joint Salvage and EOD exercises since 2005. It is the Seventh edition of SALVEX. The exercise saw participation from both the navies which included the ships – INS Nireekshak and USNS Salvor in addition to Specialist Diving and EOD teams.
Context – Indian Navy – US Navy (IN – USN) Salvage and Explosive Ordnance Disposal (EOD) exercise, SALVEX was conducted from 26 Jun – 06 Jul 23 at Kochi
Incorrect
Solution (c)
EXERCISE – SALVEX – Indian Navy – US Navy have been participating in joint Salvage and EOD exercises since 2005. It is the Seventh edition of SALVEX. The exercise saw participation from both the navies which included the ships – INS Nireekshak and USNS Salvor in addition to Specialist Diving and EOD teams.
Context – Indian Navy – US Navy (IN – USN) Salvage and Explosive Ordnance Disposal (EOD) exercise, SALVEX was conducted from 26 Jun – 06 Jul 23 at Kochi
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