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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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Consider the following statements with respect to ‘Interest Equalisation Scheme’
Statement 1 – It was implemented to provide pre- and post-shipment export credit to exporters in dollars.
Statement 2 – The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and the RBI through a consultative mechanism.
Which one of the following is correct in respect of the above statements?
Solution (d)
Statement Analysis:
| Statement 1 | Statement 2 |
| Incorrect | Correct |
| Interest Equalisation Scheme was first implemented on 1st April, 2015, to provide pre- and post-shipment export credit to exporters in rupees. It is being implemented by the RBI through various Public and non-Public Sector banks who provide pre- and post-shipment credit to the exporters. | The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and the RBI through a consultative mechanism. The scheme helps the identified export sectors to be internationally competitive and to achieve a high level of export performance. |
Context – The Commerce Ministry is pushing to restore the Interest Equalisation scheme, which is available for small businesses, till August 31
Solution (d)
Statement Analysis:
| Statement 1 | Statement 2 |
| Incorrect | Correct |
| Interest Equalisation Scheme was first implemented on 1st April, 2015, to provide pre- and post-shipment export credit to exporters in rupees. It is being implemented by the RBI through various Public and non-Public Sector banks who provide pre- and post-shipment credit to the exporters. | The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and the RBI through a consultative mechanism. The scheme helps the identified export sectors to be internationally competitive and to achieve a high level of export performance. |
Context – The Commerce Ministry is pushing to restore the Interest Equalisation scheme, which is available for small businesses, till August 31
Consider the following statements about ‘Court of Arbitration for Sport
How many statement(s) mentioned above are correct
Solution (b)
Statement Analysis:
| Statement 1 | Statement 2 | Statement 3 |
| Incorrect | Correct | Correct |
| The Court of Arbitration for Sport (CAS; French: Tribunal arbitral du sport, TAS) is an international body established in 1984 to settle disputes related to sport through arbitration. With the intermixing of sports and politics, the body was originally conceived by International Olympic Committee (IOC) president Juan Antonio Samaranch to deal with disputes arising during the Olympics. It was established as part of the IOC in 1984. | Generally speaking, a dispute may be submitted to the CAS only if an arbitration agreement between the parties specifies recourse to the CAS. However, according to rule 61 of the Olympic Charter, all disputes in connection with the Olympic Games can only be submitted to CAS | Its headquarters are in Lausanne, Switzerland and its courts are located in New York City, Sydney, and Lausanne. Temporary courts are established in current Olympic host cities. |
Context – Vinesh Phogat’s appeal against Olympic disqualification rejected by Court of Arbitration for Sport
Solution (b)
Statement Analysis:
| Statement 1 | Statement 2 | Statement 3 |
| Incorrect | Correct | Correct |
| The Court of Arbitration for Sport (CAS; French: Tribunal arbitral du sport, TAS) is an international body established in 1984 to settle disputes related to sport through arbitration. With the intermixing of sports and politics, the body was originally conceived by International Olympic Committee (IOC) president Juan Antonio Samaranch to deal with disputes arising during the Olympics. It was established as part of the IOC in 1984. | Generally speaking, a dispute may be submitted to the CAS only if an arbitration agreement between the parties specifies recourse to the CAS. However, according to rule 61 of the Olympic Charter, all disputes in connection with the Olympic Games can only be submitted to CAS | Its headquarters are in Lausanne, Switzerland and its courts are located in New York City, Sydney, and Lausanne. Temporary courts are established in current Olympic host cities. |
Context – Vinesh Phogat’s appeal against Olympic disqualification rejected by Court of Arbitration for Sport
With reference to ‘Mpox (monkeypox)’, consider the following statements
How many statement(s) mentioned above are correct
Solution (c)
Statement Analysis:
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Correct |
| Mpox (monkeypox) is a viral zoonotic disease caused by the monkeypox virus. There are no specific treatments for monkeypox virus infection. Early and supportive care is important to help manage symptoms and avoid further problems. | Human-to-human transmission of mpox occurs through direct contact with body fluids, lesions, prolonged face-to-face contact, including sexual contact, and indirect contact with contaminated clothing or bedding. | The first human case of mpox was recorded in 1970 in the Democratic Republic of the Congo (DRC). There are two known types (clades) of mpox virus — one that originated in Central Africa (Clade I) and one that originated in West Africa (Clade II). |
Context – WHO declared monkeypox a public health emergency of global concern
Solution (c)
Statement Analysis:
| Statement 1 | Statement 2 | Statement 3 |
| Correct | Correct | Correct |
| Mpox (monkeypox) is a viral zoonotic disease caused by the monkeypox virus. There are no specific treatments for monkeypox virus infection. Early and supportive care is important to help manage symptoms and avoid further problems. | Human-to-human transmission of mpox occurs through direct contact with body fluids, lesions, prolonged face-to-face contact, including sexual contact, and indirect contact with contaminated clothing or bedding. | The first human case of mpox was recorded in 1970 in the Democratic Republic of the Congo (DRC). There are two known types (clades) of mpox virus — one that originated in Central Africa (Clade I) and one that originated in West Africa (Clade II). |
Context – WHO declared monkeypox a public health emergency of global concern
Consider the following statements about ‘Gallantry Awards’
Select the correct statement(s)
Solution (d)
Statement Analysis:
| Statement 1 | Statement 2 |
| Incorrect | Incorrect |
| Kirti Chakra is the peacetime equivalent of the Maha Vir Chakra, the second-highest peacetime gallantry award. Awarded for displaying conspicuous gallantry, indomitable courage, and extreme devotion to duty. or self-sacrifice away from the field of battle. It is open to civilians as well as military personnel, including posthumous awards. | Shaurya Chakra is an Indian military decoration awarded for gallantry, courageous action, or self-sacrifice while not engaged in direct action with the enemy. Represents the spirit of bravery, valor, and devotion to duty in peacetime. It is open to civilians as well as military personnel, including posthumous awards. |
Context – President Droupadi Murmu approved 103 gallantry awards to armed forces and Central Armed Police Forces (CAPF) personnel on the eve of the 78th Independence Day.
Solution (d)
Statement Analysis:
| Statement 1 | Statement 2 |
| Incorrect | Incorrect |
| Kirti Chakra is the peacetime equivalent of the Maha Vir Chakra, the second-highest peacetime gallantry award. Awarded for displaying conspicuous gallantry, indomitable courage, and extreme devotion to duty. or self-sacrifice away from the field of battle. It is open to civilians as well as military personnel, including posthumous awards. | Shaurya Chakra is an Indian military decoration awarded for gallantry, courageous action, or self-sacrifice while not engaged in direct action with the enemy. Represents the spirit of bravery, valor, and devotion to duty in peacetime. It is open to civilians as well as military personnel, including posthumous awards. |
Context – President Droupadi Murmu approved 103 gallantry awards to armed forces and Central Armed Police Forces (CAPF) personnel on the eve of the 78th Independence Day.
‘Al -Shabaab’ seen in news recently is a militant group found in
Solution (c)
Harakat al-Shabaab al-Mujahideen commonly known as al-Shabaab is a Sunni Islamist military and political organization based in Somalia and active elsewhere in East Africa. It is actively involved in the ongoing Somali Civil War and incorporates elements of Somali nationalism into its Islamist cause. Allegiant to the militant pan-Islamist organization al-Qaeda since 2012, it has also been suspected of forging ties with al-Qaeda in the Islamic Maghreb, and al-Qaeda in the Arabian Peninsula.
Context – The group, an affiliate of al-Qaeda, has been waging a war against the Somali government for the past 17 years.
Solution (c)
Harakat al-Shabaab al-Mujahideen commonly known as al-Shabaab is a Sunni Islamist military and political organization based in Somalia and active elsewhere in East Africa. It is actively involved in the ongoing Somali Civil War and incorporates elements of Somali nationalism into its Islamist cause. Allegiant to the militant pan-Islamist organization al-Qaeda since 2012, it has also been suspected of forging ties with al-Qaeda in the Islamic Maghreb, and al-Qaeda in the Arabian Peninsula.
Context – The group, an affiliate of al-Qaeda, has been waging a war against the Somali government for the past 17 years.
