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
Q.1) Consider the following with respect to ‘One Future Alliance’ (OFA)’
- It is an initiative of India and UNEP.
- It is a part of Digital Public Infrastructure (DPI) partnership.
- It enables countries to innovate using existing open-source customizable stacks for their own and the world’s future.
Select the correct statement(s)
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct One Future Alliance’ (OFA) It is a voluntary initiative proposed by the G20 India Presidency with support from UNDP and its knowledge partners.
It aims to unite governments, the private sector, academia, donor agencies, civil society, and other stakeholders to enhance global efforts in the DPI ecosystem.
Digital public infrastructure (DPI) is a shared means to many ends. It is a critical enabler of digital transformation and is helping to improve public service delivery at scale. At the 77th UN General Assembly, countries pledged to share digital resources and best practices for the Global Goals, while funders dedicated $295 million to enhance inclusive digital infrastructure.
Countries can leverage existing open-source customizable stacks to innovate and adapt them for their own needs and for the benefit of the world. The event was attended by representatives of 15 countries and international experts working in areas of digital governance
Context: India to share its digital success stories under One Future Alliance
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Correct One Future Alliance’ (OFA) It is a voluntary initiative proposed by the G20 India Presidency with support from UNDP and its knowledge partners.
It aims to unite governments, the private sector, academia, donor agencies, civil society, and other stakeholders to enhance global efforts in the DPI ecosystem.
Digital public infrastructure (DPI) is a shared means to many ends. It is a critical enabler of digital transformation and is helping to improve public service delivery at scale. At the 77th UN General Assembly, countries pledged to share digital resources and best practices for the Global Goals, while funders dedicated $295 million to enhance inclusive digital infrastructure.
Countries can leverage existing open-source customizable stacks to innovate and adapt them for their own needs and for the benefit of the world. The event was attended by representatives of 15 countries and international experts working in areas of digital governance
Context: India to share its digital success stories under One Future Alliance
-
Question 2 of 5
2. Question
With reference to ‘White Label ATMs’, consider the following statements
Statement 1- RBI has allowed White Label ATM Operators (WLAOs) to buy wholesale cash from the RBI and currency chests.
Statement 2- By allowing WLAO to source cash directly from RBI, will encourage more WLATM to be opened across the country, thereby leading to deepening of financial inclusion
Which one of the following is correct in respect of the above statements?
Correct
Solution (a)
Statement Analysis:
In order to enhance the viability of White Label ATMs (WLAs), the RBI has allowed White Label ATM Operators (WLAOs) to buy wholesale cash from the RBI and currency chests.
This will provide the functionality to WLATMs, as they are cash-starved because the banks used to give preference to the ATMs deployed by them.
Until now cash Management at the WLAs was the responsibility of the Sponsor Bank.
By allowing WLAO to source cash directly from RBI, will encourage more WLATM to be opened across the country, thereby leading to deepening of financial inclusion
White-Label ATMs
- Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called “White Label ATMs” (WLAs).
- Non-bank entities incorporated in India under the Companies Act 1956 are allowed to operate WLAs.
- In September 2015, Government permitted Foreign Direct Investment (FDI), up to 100%, under the automatic route.
- Non-bank entities are permitted to set up WLAs in India, after obtaining authorization from RBI under the Payment and Settlement Systems (PSS) Act 2007.
- Such non-bank entities should have a minimum net worth of Rs 100 crore.
- Tata Communications Payment Solutions Limited (TCPSL) was the first company authorized by the Reserve Bank of India (RBI) to open White Label ATMs in the country. It got launched under the brand name ‘Indicash’.
- White Label ATMs are like normal ATM. However, cash deposit or cash acceptance facility is not permitted at the WLA. The difference is this ATM machine does not have any branding of Bank. These machines are usually deployed by NBFC (Non-Banking Financial Institutions).
- The basic idea about White Label ATM is to increase the geographical spread of ATM to enhance financial inclusion.
Context: Hitachi Payment Services in collaboration with NPCI recently launched India’s first UPI ATM.
Incorrect
Solution (a)
Statement Analysis:
In order to enhance the viability of White Label ATMs (WLAs), the RBI has allowed White Label ATM Operators (WLAOs) to buy wholesale cash from the RBI and currency chests.
This will provide the functionality to WLATMs, as they are cash-starved because the banks used to give preference to the ATMs deployed by them.
Until now cash Management at the WLAs was the responsibility of the Sponsor Bank.
By allowing WLAO to source cash directly from RBI, will encourage more WLATM to be opened across the country, thereby leading to deepening of financial inclusion
White-Label ATMs
- Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called “White Label ATMs” (WLAs).
- Non-bank entities incorporated in India under the Companies Act 1956 are allowed to operate WLAs.
- In September 2015, Government permitted Foreign Direct Investment (FDI), up to 100%, under the automatic route.
- Non-bank entities are permitted to set up WLAs in India, after obtaining authorization from RBI under the Payment and Settlement Systems (PSS) Act 2007.
- Such non-bank entities should have a minimum net worth of Rs 100 crore.
- Tata Communications Payment Solutions Limited (TCPSL) was the first company authorized by the Reserve Bank of India (RBI) to open White Label ATMs in the country. It got launched under the brand name ‘Indicash’.
- White Label ATMs are like normal ATM. However, cash deposit or cash acceptance facility is not permitted at the WLA. The difference is this ATM machine does not have any branding of Bank. These machines are usually deployed by NBFC (Non-Banking Financial Institutions).
- The basic idea about White Label ATM is to increase the geographical spread of ATM to enhance financial inclusion.
Context: Hitachi Payment Services in collaboration with NPCI recently launched India’s first UPI ATM.
-
Question 3 of 5
3. Question
With reference to ‘Crypto asset in India’ consider the following statements
- There is currently no regulation or ban on crypto currencies in India.
- Under Union budget 2022-23, a 30% tax was imposed on any income from the transfer of Virtual digital assets.
Select the INCORRECT statement
Correct
Solution (d)
Statement 1 Statement 2 Correct Correct Crypto assets are a digital representation of value that you can transfer, store, or trade electronically. This also includes non-fungible tokens (NFTs). Crypto assets are a subset of digital assets that use cryptography to protect digital data and distributed ledger technology to record transactions. They may run on their own blockchain or use an existing platform such as Ethereum. A blockchain is a form of secure digital ledger used to store a record of crypto transactions.
Crypto currency and Regulation of Official Digital Currency Bill, 2021 introduced.
Under this, a plan to ban private digital currencies favors RBI backed currency.
A 3-6 month exit period prior to banning the trading, mining and issuing of cryptos.
Finally, Crypto currencies, though unregulated, are not illegal in India.
According to Finance Act, “virtual digital asset mean any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited .. Under Union budget 2022-23, a 30% tax was imposed on any income from the transfer of Virtual digital assets.
TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Furthermore, gifts of crypto assets will be taxed in the recipient’s hands. With effect from April 1, 2023, the 115BBH sections on income from virtual digital assets will be introduced.
Context: G20 could pave way for crypto regulation, financial inclusion push
Incorrect
Solution (d)
Statement 1 Statement 2 Correct Correct Crypto assets are a digital representation of value that you can transfer, store, or trade electronically. This also includes non-fungible tokens (NFTs). Crypto assets are a subset of digital assets that use cryptography to protect digital data and distributed ledger technology to record transactions. They may run on their own blockchain or use an existing platform such as Ethereum. A blockchain is a form of secure digital ledger used to store a record of crypto transactions.
Crypto currency and Regulation of Official Digital Currency Bill, 2021 introduced.
Under this, a plan to ban private digital currencies favors RBI backed currency.
A 3-6 month exit period prior to banning the trading, mining and issuing of cryptos.
Finally, Crypto currencies, though unregulated, are not illegal in India.
According to Finance Act, “virtual digital asset mean any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited .. Under Union budget 2022-23, a 30% tax was imposed on any income from the transfer of Virtual digital assets.
TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Furthermore, gifts of crypto assets will be taxed in the recipient’s hands. With effect from April 1, 2023, the 115BBH sections on income from virtual digital assets will be introduced.
Context: G20 could pave way for crypto regulation, financial inclusion push
-
Question 4 of 5
4. Question
Justice Amitvaroy Committee’ which was recently in news is related to
Correct
Solution (a)
Amitava Roy Committee (Prison Reforms)
The Supreme Court has formed a Committee on Prison Reforms chaired by former apex court judge, Justice Amitava Roy, to examine the various problems plaguing prisons in the country, from overcrowding to lack of legal advice to convicts to issues of remission and parole.
Terms of reference:
- Apart from the above four issues, committee will comprehensively examine and respond to the dire necessity of reforms in prisons.
- Committee to examine the extent of overcrowding in prisons and correctional homes and recommend remedial measures, including an examination of the functioning of Under Trial Review Committees, availability of legal aid and advice, grant of remission, parole and furlough.
- The panel would also probe the reasons for violence in prisons and correctional homes and recommend preventive measures.
.
Context: Supreme Court sought the views of the Centre and the states on the Justice Amitava Roy Committee report submitted on December 27, 2022, underlining that the correctional justice system is “evidently gender exclusionary”.
Incorrect
Solution (a)
Amitava Roy Committee (Prison Reforms)
The Supreme Court has formed a Committee on Prison Reforms chaired by former apex court judge, Justice Amitava Roy, to examine the various problems plaguing prisons in the country, from overcrowding to lack of legal advice to convicts to issues of remission and parole.
Terms of reference:
- Apart from the above four issues, committee will comprehensively examine and respond to the dire necessity of reforms in prisons.
- Committee to examine the extent of overcrowding in prisons and correctional homes and recommend remedial measures, including an examination of the functioning of Under Trial Review Committees, availability of legal aid and advice, grant of remission, parole and furlough.
- The panel would also probe the reasons for violence in prisons and correctional homes and recommend preventive measures.
.
Context: Supreme Court sought the views of the Centre and the states on the Justice Amitava Roy Committee report submitted on December 27, 2022, underlining that the correctional justice system is “evidently gender exclusionary”.
-
Question 5 of 5
5. Question
Consider the following statements with respect to teachers training in India
- Malaviya Mission focus on various themes identified for course curriculum/content for capacity building of faculty members at elementary stage.
- NISHTHA aims to build competencies among faculty members at the higher educational institutions.
Select the correct statement(s)
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Malaviya Mission – Teacher Training Programme is organized by the University Grants Commission (UGC), in association with the Ministry of Education. The two-week online programme shall focus on various themes identified for course curriculum/content for capacity building of faculty members at higher educational institutions.
Significance
The programme shall help develop innovative teaching methods and high-level institutional facilities in all the constituent areas of higher education.
It aims to improve the quality of teachers training, build leadership skills in teachers and help realize the goals of National Education Policy (NEP).
NISHTHA is a National Mission to improve learning outcomes at the elementary level through an Integrated Teacher Training Programme under the Centrally Sponsored Scheme of Samagra Shiksha in 2019-20. It has been launched by the Department of School Education and Literacy.
It is a capacity building programme for “Improving Quality of School Education through Integrated Teacher Training
“.
It aims to build competencies among all the teachers and school principals at the elementary stage. It is the world’s largest teachers’ training programme of its kind.
Context: Shri Dharmendra Pradhan launches the Malaviya Mission – Teachers Training Programme by University Grants Commission
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect Malaviya Mission – Teacher Training Programme is organized by the University Grants Commission (UGC), in association with the Ministry of Education. The two-week online programme shall focus on various themes identified for course curriculum/content for capacity building of faculty members at higher educational institutions.
Significance
The programme shall help develop innovative teaching methods and high-level institutional facilities in all the constituent areas of higher education.
It aims to improve the quality of teachers training, build leadership skills in teachers and help realize the goals of National Education Policy (NEP).
NISHTHA is a National Mission to improve learning outcomes at the elementary level through an Integrated Teacher Training Programme under the Centrally Sponsored Scheme of Samagra Shiksha in 2019-20. It has been launched by the Department of School Education and Literacy.
It is a capacity building programme for “Improving Quality of School Education through Integrated Teacher Training
“.
It aims to build competencies among all the teachers and school principals at the elementary stage. It is the world’s largest teachers’ training programme of its kind.
Context: Shri Dharmendra Pradhan launches the Malaviya Mission – Teachers Training Programme by University Grants Commission
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