UPSC Quiz – 2022 : IASbaba’s Daily Current Affairs Quiz 22nd September 2022

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 LoRa technology

LoRa technology is a wireless modulation technique in the physical layer, allowing long-range communication using chirp spread spectrum.
It uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.
Banks can use this as their own dedicated private network instead of using a third party network which are presently based either on satellite link or wired (fibre).

Choose the incorrect statements:

a) 1 only
b) 3 only
c) 2 and 3
d) None

Correct

Solution (d)

Statement Analysis

Statement 1

Statement 2

Statement 3

Correct

· It is a new technology developed by the Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI).

· LoRa technology is a wireless modulation technique in the physical layer, allowing long-range communication using chirp spread spectrum.

· LoRa technology uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.

· Banks can use this as their own dedicated private network instead of using a third party network which are presently based either on satellite link or wired (fibre).

· As it can be owned by banks privately, there will be more security from cyber-attacks. Apart from being a more secure platform, LoRa network also allows easy recoverability and upgradation.

· The last mile connectivity of the banking system can be expanded with the LoRa financial network.

Context: In a first, IDRBT develops new low cost financial network to take banking to remote areas.

Incorrect

Solution (d)

Statement Analysis

Statement 1

Statement 2

Statement 3

Correct

· It is a new technology developed by the Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI).

· LoRa technology is a wireless modulation technique in the physical layer, allowing long-range communication using chirp spread spectrum.

· LoRa technology uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.

· Banks can use this as their own dedicated private network instead of using a third party network which are presently based either on satellite link or wired (fibre).

· As it can be owned by banks privately, there will be more security from cyber-attacks. Apart from being a more secure platform, LoRa network also allows easy recoverability and upgradation.

· The last mile connectivity of the banking system can be expanded with the LoRa financial network.

Context: In a first, IDRBT develops new low cost financial network to take banking to remote areas.

Question 2 of 5

2. Question

Consider the following statements about Coffee Board

The Coffee Board is a statutory organization constituted under the Coffee Act, 1942.
It functions under the administrative control of the Ministry of Commerce and Industry, Government of India.
The head office of the Coffee Board is situated in Bangalore.
The board is headed by Director General of Foreign Trade.

Choose the correct statements:

a) 2 and 3
b) 1, 2 and 4
c) 1, 3 and 4
d) 1, 2 and 3

Correct

Solution (d)

Statement Analysis

Option d

Correct

· The Government of India established the ‘Coffee Board’ through a constitutional act “Coffee Act VII of 1942”

· It is under the administrative control of Ministry of Commerce and Industry.

· The Board comprises 33 members including the Chairman, who is the Chief Executive and appointed by the Government of India.

· Role of Coffee Board: Coffee Board serves as the friend, philosopher and guide to the Coffee sector covering the entire value chain. The core activities are primarily directed towards research & development, transfer of technology, enhancement of production, quality improvement, export promotion and supporting development of Domestic market.

· The head office of the Coffee Board is situated in Bangalore.

Context: On the side lines of the annual conference of United Planters Association of Southern India, The Coffee Board is coming out with a sustainability code for Indian coffee.

Incorrect

Solution (d)

Statement Analysis

Option d

Correct

· The Government of India established the ‘Coffee Board’ through a constitutional act “Coffee Act VII of 1942”

· It is under the administrative control of Ministry of Commerce and Industry.

· The Board comprises 33 members including the Chairman, who is the Chief Executive and appointed by the Government of India.

· The head office of the Coffee Board is situated in Bangalore.

Context: On the side lines of the annual conference of United Planters Association of Southern India, The Coffee Board is coming out with a sustainability code for Indian coffee.

Question 3 of 5

3. Question

Consider the following statements about Prompt Corrective Action Framework

The objective of the framework is to enable Supervisory intervention by RBI at appropriate time.
The framework applies to all banks operating in India, including foreign banks.
The breach of any risk threshold enables the Reserve Bank to reconstruct or amalgamate a bank, with the approval of the Central government.

Choose the incorrect statements:

a) 2 only
b) 3 only
c) 2 and 3
d) None

Correct

Solution (d)

Statement Analysis

Statement 1

Statement 2

Statement 3

Correct

· The PCA framework enables supervisory intervention of RBI over Banks at an appropriate time and ensures effective market discipline.

· The framework applies to all banks operating in India, including foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.

· However, payments banks and small finance banks (SFBs) have been removed from the list of lenders where prompt corrective action can be initiated.

· The breach of any risk threshold may result in the invocation of the PCA

· RBI’s Powers:

· In governance-related actions, the RBI can supersede the board under Section 36ACA of the Banking Regulation Act, 1949.

· Amendment to Section 45 of the BR Act enables the Reserve Bank to reconstruct or amalgamate a bank, with or without implementing a moratorium, with the approval of the Central government.

· The RBI, as part of its mandatory and discretionary actions, may also impose appropriate restrictions on capital expenditure, other than for technological upgradation within Board approved limits, under the revised PCA.

Context: After reviewing the performance of the Central Bank of India, The Reserve Bank of India (RBI) removed it from its Prompt Corrective Action Framework (PCAF).

Incorrect

Solution (d)

Statement Analysis

Statement 1

Statement 2

Statement 3

Correct

· The PCA framework enables supervisory intervention of RBI over Banks at an appropriate time and ensures effective market discipline.

· The framework applies to all banks operating in India, including foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.

· However, payments banks and small finance banks (SFBs) have been removed from the list of lenders where prompt corrective action can be initiated.

· The breach of any risk threshold may result in the invocation of the PCA

· RBI’s Powers:

· In governance-related actions, the RBI can supersede the board under Section 36ACA of the Banking Regulation Act, 1949.

· Amendment to Section 45 of the BR Act enables the Reserve Bank to reconstruct or amalgamate a bank, with or without implementing a moratorium, with the approval of the Central government.

Context: After reviewing the performance of the Central Bank of India, The Reserve Bank of India (RBI) removed it from its Prompt Corrective Action Framework (PCAF).

Question 4 of 5

4. Question

Consider the following statements

Based the recommendations of Sitakant Mohapatra (2003) Committee, Government of India has fixed a set of criteria for inclusion of languages in the Eighth schedule.
Bodo, Dogri, Khasi, and Santhali were added by the 92^nd Amendment Act of 2003, to the Eighth schedule.

Choose the correct statements:

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Correct

Solution (d)

Statement Analysis

Statement 1

Statement 2

Incorrect

· The earlier attempts, through the Pahwa (1996) and Sitakant Mohapatra (2003) Committees, to evolve such fixed criteria have been inconclusive.

· Government of India is conscious of the sentiments and requirements for inclusion of other languages in the Eighth Schedule.

· Such requests have to be considered keeping in mind these sentiments, and the other relevant considerations.

· The Eighth Schedule to the Constitution consists of the following 22 languages:

· Assamese, Bengali, Gujarati, Hindi, Kannada, Kashmiri, Konkani, Malayalam, Manipuri, Marathi, Nepali, Oriya, Punjabi,Sanskrit, Sindhi, Tamil, Telugu, Urdu, Bodo, Santhali, Maithili and Dogri.

· Of these languages, 14 were initially included in the Constitution.

· Sindhi language was added by the 21st Amendment Act of 1967.

· Konkani, Manipuri, and Nepali were included by the 71st Amendment Act of 1992.

· Bodo, Dogri, Maithili, and Santhali were added by the 92nd Amendment Act of 2003 which came into force in 2004.

Context: People belonging to the Kurmi community blocked railway tracks in various parts of Eastern India demanding their inclusion on the list of Scheduled Tribes (ST) and the inclusion of the Kurmali language in the Eighth Schedule of the Constitution.