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 the Bad loans
- The RBI has directed banks to classify loans as Non-Performing Assets (NPAs) if the interest or principal is overdue for more than 90 days.
- The Insolvency and Bankruptcy Code (IBC) has helped in the recovery of bad loans by providing a time-bound framework for resolving insolvency.
- The RBI’s Prompt Corrective Action (PCA) framework is triggered when a bank’s net NPA ratio exceeds 6%.
How many of the statements given above are correct?
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Correct correct - The RBI has directed banks to classify loans as Non-Performing Assets (NPAs) if the interest or principal is overdue for more than 90 days.
- The Insolvency and Bankruptcy Code (IBC) has helped in the recovery of bad loans by providing a time-bound framework for resolving insolvency.
- The RBI’s Prompt Corrective Action (PCA) framework is triggered when a bank’s net NPA ratio exceeds 6%.
Context: Bad loans decline: Banks’ gross NPA ratio declines to 13-year low of 2.5% at September end
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Correct correct - The RBI has directed banks to classify loans as Non-Performing Assets (NPAs) if the interest or principal is overdue for more than 90 days.
- The Insolvency and Bankruptcy Code (IBC) has helped in the recovery of bad loans by providing a time-bound framework for resolving insolvency.
- The RBI’s Prompt Corrective Action (PCA) framework is triggered when a bank’s net NPA ratio exceeds 6%.
Context: Bad loans decline: Banks’ gross NPA ratio declines to 13-year low of 2.5% at September end
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Question 2 of 5
2. Question
Consider the following statements about the Rare earth minerals
- Rare earth minerals are a group of 17 elements with unique properties that make them crucial for advanced technologies.
- India is the world’s largest producer of rare earth minerals, accounting for over 30% of global production.
- The Bay of Bengal and the Andaman and Nicobar Islands are potential areas for rare earth mineral exploration in India.
How many of the statements given above are correct?
Correct
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Incorrect correct - Rare earth minerals are a group of 17 elements with unique properties that make them crucial for advanced technologies.
- India possesses the world’s fifth-largest deposits of rare earth minerals. Due to the radioactivity of monazite sands, Indian Rare Earths Ltd is the sole manufacturer of rare earth compounds under the Department of Atomic Energy.
- The Bay of Bengal and the Andaman and Nicobar Islands are potential areas for rare earth mineral exploration in India.
Context:Tapping into Kazakhstan’s rare earths potential – The Hindu
Incorrect
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct Incorrect correct - Rare earth minerals are a group of 17 elements with unique properties that make them crucial for advanced technologies.
- India possesses the world’s fifth-largest deposits of rare earth minerals. Due to the radioactivity of monazite sands, Indian Rare Earths Ltd is the sole manufacturer of rare earth compounds under the Department of Atomic Energy.
- The Bay of Bengal and the Andaman and Nicobar Islands are potential areas for rare earth mineral exploration in India.
Context:Tapping into Kazakhstan’s rare earths potential – The Hindu
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Question 3 of 5
3. Question
Which of the following is NOT exempt from Wealth Tax in India?
Correct
Solution (b)
Option Correct - Commercial property.
Context:
Incorrect
Solution (b)
Option Correct - Commercial property.
Context:
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Question 4 of 5
4. Question
Consider the following statements about the Supreme Court Collegium
- It consists of the Chief Justice of India and four senior-most judges of the Supreme Court.
- Its recommendations are binding on the Government of India.
Choose the incorrect statements:
Correct
Solution (b)
Statement Analysis
Statement 1 Statement 2 correct Incorrect - It consists of the Chief Justice of India and four senior-most judges of the Supreme Court.
- Its recommendations are not binding on the Government of India.
Context: SC Collegium recommends appointments of judges for four different High Courts
Incorrect
Solution (b)
Statement Analysis
Statement 1 Statement 2 correct Incorrect - It consists of the Chief Justice of India and four senior-most judges of the Supreme Court.
- Its recommendations are not binding on the Government of India.
Context: SC Collegium recommends appointments of judges for four different High Courts
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Question 5 of 5
5. Question
Consider the following statements about the Shaheed Udham Singh
- Udham Singh was motivated by revenge for the Jallianwala Bagh massacre.
- He was a member of the Ghadar Party.
Choose the correct statements:
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 correct correct - Udham Singh was motivated by revenge for the Jallianwala Bagh massacre.
- He was a member of the Ghadar Party
Context: Nation remembers Shaheed Udham Singh on his 125th birth anniversary
Incorrect
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