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 ‘Payment Aggregator-Cross Border (PA-CB)’
- It facilitates cross-border online payments for the import and export of permissible goods and services
- There is no minimum net worth requirement of entities to be categorized as PA-CB
Select the correct statement(s)
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Payment Aggregator-Cross Border (PA-CB) facilitates cross-border online payments for the import and export of permissible goods and services. If the amount involved exceeds Rs 2.5 lakh, the PA-CB must carry out due diligence on the buyer as well. The RBI has set a minimum net worth requirement of Rs 15 crore for these entities, which will be categorised as PA-CB. They will be accountable for ensuring that they do not facilitate payment transactions for the import of any restricted or prohibited goods and services. Context – The Reserve Bank of India (RBI) has brought under its direct regulation all entities facilitating cross-border payments for import and export of goods and services and termed them Payment Aggregator-Cross Border (PA-CB).
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect Payment Aggregator-Cross Border (PA-CB) facilitates cross-border online payments for the import and export of permissible goods and services. If the amount involved exceeds Rs 2.5 lakh, the PA-CB must carry out due diligence on the buyer as well. The RBI has set a minimum net worth requirement of Rs 15 crore for these entities, which will be categorised as PA-CB. They will be accountable for ensuring that they do not facilitate payment transactions for the import of any restricted or prohibited goods and services. Context – The Reserve Bank of India (RBI) has brought under its direct regulation all entities facilitating cross-border payments for import and export of goods and services and termed them Payment Aggregator-Cross Border (PA-CB).
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Question 2 of 5
2. Question
Consider the following statements about ‘Financial Action Task Force’
- It is an intergovernmental organization under G-20 to develop policies to combat money laundering
- The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation
- It maintains two lists for monitoring namely the Black list and the Red list
How many of the statement(s) given above are correct
Correct
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect The Financial Action Task Force (on Money Laundering) (FATF), is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest.In 2001, its mandate was expanded to include terrorism financing. The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations. It provides an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system. Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”). Context – According to the ‘Crowdfunding for Terrorism Financing’ report, recently published by the FATF, a violent extremist organisation under investigation in India collected funds through well-structured networks.
Incorrect
Solution (a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect The Financial Action Task Force (on Money Laundering) (FATF), is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest.In 2001, its mandate was expanded to include terrorism financing. The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations. It provides an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system. Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”). Context – According to the ‘Crowdfunding for Terrorism Financing’ report, recently published by the FATF, a violent extremist organisation under investigation in India collected funds through well-structured networks.
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Question 3 of 5
3. Question
‘Zero-day attacks’ a term often seen in news is related to
Correct
Solution (b)
“Zero-day” is a broad term that describes recently discovered security vulnerabilities that hackers can use to attack systems. The term “zero-day” refers to the fact that the vendor or developer has only just learned of the flaw – which means they have “zero days” to fix it. A zero-day attack takes place when hackers exploit the flaw before developers have a chance to address it.
Context – Opposition leaders intensified allegations of government snooping after receiving alerts from the tech firm Apple that a “state-sponsored attacker” may be targeting their digital devices
Incorrect
Solution (b)
“Zero-day” is a broad term that describes recently discovered security vulnerabilities that hackers can use to attack systems. The term “zero-day” refers to the fact that the vendor or developer has only just learned of the flaw – which means they have “zero days” to fix it. A zero-day attack takes place when hackers exploit the flaw before developers have a chance to address it.
Context – Opposition leaders intensified allegations of government snooping after receiving alerts from the tech firm Apple that a “state-sponsored attacker” may be targeting their digital devices
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Question 4 of 5
4. Question
Consider the following statements with respect to ‘Adaptation Gap Report 2023’
- The aim of the reports is to inform national and international efforts to advance adaptation
- It is released by the UN Environment Programme (UNEP) annually
Select the INCORRECT statement(s)
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Correct Correct The aim of the reports is to inform national and international efforts to advance adaptation. The Adaptation Gap Report consists of two main parts: Assessment of global progress on adaptation in three areas: planning, financing and implementation. A second part that provides a deeper assessment of the status of adaptation within a particular sector or theme, but still framed around the same three elements. The UN Environment Programme (UNEP) releases Adaptation Gap Report annually. The first edition was released in 2014. Context – The UN Environment Programme (UNEP) has released its annual Adaptation Gap Report 2023.
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Correct Correct The aim of the reports is to inform national and international efforts to advance adaptation. The Adaptation Gap Report consists of two main parts: Assessment of global progress on adaptation in three areas: planning, financing and implementation. A second part that provides a deeper assessment of the status of adaptation within a particular sector or theme, but still framed around the same three elements. The UN Environment Programme (UNEP) releases Adaptation Gap Report annually. The first edition was released in 2014. Context – The UN Environment Programme (UNEP) has released its annual Adaptation Gap Report 2023.
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Question 5 of 5
5. Question
Consider the following statements with respect to ‘National Efficient Cooking Programme’
Statement 1 – It aims to promote LPG gas connections to every household and stop firewood usage
Statement 2 – It will reduce the environmental impact of cooking methods, resulting in cleaner air and improved health
Which one of the following is correct in respect of the above statements?
Correct
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct NECP promotes affordable and energy-efficient induction cookers NECP is a subset of the Clean Cooking Scheme. It focuses on Non-Solar/Electricity-based Induction cook stoves, aligning with the Go- electric initiative by the Ministry of Power. It introduces induction-based cook-stoves that offer cost advantages of 25-30% over traditional cooking methods. By deploying 20 lakh (2 million) energy-efficient induction cook stoves across India, NECP seeks to reduce the environmental impact of cooking methods, resulting in cleaner air and improved health. EESL has partnered with Modern Energy Cooking Services (MECS) for the large-scale deployment of induction cooktops. Context – Energy Efficiency Services Limited (EESL) launched the National Efficient Cooking Programme (NECP).
Incorrect
Solution (d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Correct NECP promotes affordable and energy-efficient induction cookers NECP is a subset of the Clean Cooking Scheme. It focuses on Non-Solar/Electricity-based Induction cook stoves, aligning with the Go- electric initiative by the Ministry of Power. It introduces induction-based cook-stoves that offer cost advantages of 25-30% over traditional cooking methods. By deploying 20 lakh (2 million) energy-efficient induction cook stoves across India, NECP seeks to reduce the environmental impact of cooking methods, resulting in cleaner air and improved health. EESL has partnered with Modern Energy Cooking Services (MECS) for the large-scale deployment of induction cooktops. Context – Energy Efficiency Services Limited (EESL) launched the National Efficient Cooking Programme (NECP).
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