13th February 2023 Current Affairs Quiz for UPSC Prelims
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Average score
Your score
Categories
Not categorized0%
Your result has been entered into leaderboard
Loading
1
2
3
4
5
6
7
8
9
10
Answered
Review
Question 1 of 10
1. Question
2 points
Consider the following statements with reference to the Application Supported by Blocked Amount (ASBA) recently seen in news:
1. ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an initial public offering (IPO).
2. If the money has been blocked in an ASBA account then the amount will not earn interest.
3. If an investor is applying through ASBA, their application money will be debited from the bank account only if the application is selected for allotment of the IPO.
Which of the given statements is/are correct?
Correct
Correct Answer: A
Explanation
Only statement 1 is correct, 2 and 3 are not correct.
Application Supported by Blocked Amount (ASBA)
• ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an initial public offering (IPO). Hence statement 1 is correct.
• If an investor is applying through ASBA, their application money will be debited from the bank account only if the application is selected for allotment after the basis of allotment is finalized, or the issue of the IPOs is withdrawn or failed. Hence statement 3 is not correct.
• In an IPO, the ASBA system helps ensure that money from an investor gets moved only when an allotment happens.
• There is likely to be a regulatory gap when there is something new and innovative that happens in the market. It is up to the regulator to keep pace with that.
• Subscribing to issues via ASBA is a mandatory option since as of 2016. If the money has been blocked in an ASBA account then the amount will continue to earn interest during the time it takes to get the allotment of the share. Hence statement 2 is not correct.
• The investor needs to be an Indian resident to avail ASBA
Incorrect
Correct Answer: A
Explanation
Only statement 1 is correct, 2 and 3 are not correct.
Application Supported by Blocked Amount (ASBA)
• ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an initial public offering (IPO). Hence statement 1 is correct.
• If an investor is applying through ASBA, their application money will be debited from the bank account only if the application is selected for allotment after the basis of allotment is finalized, or the issue of the IPOs is withdrawn or failed. Hence statement 3 is not correct.
• In an IPO, the ASBA system helps ensure that money from an investor gets moved only when an allotment happens.
• There is likely to be a regulatory gap when there is something new and innovative that happens in the market. It is up to the regulator to keep pace with that.
• Subscribing to issues via ASBA is a mandatory option since as of 2016. If the money has been blocked in an ASBA account then the amount will continue to earn interest during the time it takes to get the allotment of the share. Hence statement 2 is not correct.
• The investor needs to be an Indian resident to avail ASBA
Question 2 of 10
2. Question
2 points
With reference to Oceanic Mining, often seen in news, which of the given statements is/are not correct?
1. In ‘shallow-water mining’, metals such as gold, cobalt and copper are mined from depths of 20 m below the sea.
2. Deep-sea mining has not been implemented yet due to concerns over the environmental
impacts of mining activities.
Select the correct option:
Correct
Correct Answer: B
Explanation
Statement 1 is not correct, 2 is correct.
• In ‘shallow-water mining’, metals such as gold, cobalt and copper are mined from depths of 200 m below the sea. Hence statement 1 is not correct.
• Generally, shallow-water mining is considered a relatively low-risk and low-cost option to satisfy the demand for metals and minerals.
• Deep-sea mining has not been implemented yet due to concerns over the environmental impacts of mining activities. Hence statement 2 is correct.
• But a new study has highlighted that the shallow-water mining also could trigger local extinctions of marine species.
• This is because extracting minerals from the shallow-water ocean floor requires dredging large amounts of sediment.
• Removing this sediment, which takes thousands of years to accumulate, means removing the organisms that call it home.
Incorrect
Correct Answer: B
Explanation
Statement 1 is not correct, 2 is correct.
• In ‘shallow-water mining’, metals such as gold, cobalt and copper are mined from depths of 200 m below the sea. Hence statement 1 is not correct.
• Generally, shallow-water mining is considered a relatively low-risk and low-cost option to satisfy the demand for metals and minerals.
• Deep-sea mining has not been implemented yet due to concerns over the environmental impacts of mining activities. Hence statement 2 is correct.
• But a new study has highlighted that the shallow-water mining also could trigger local extinctions of marine species.
• This is because extracting minerals from the shallow-water ocean floor requires dredging large amounts of sediment.
• Removing this sediment, which takes thousands of years to accumulate, means removing the organisms that call it home.
Question 3 of 10
3. Question
2 points
The Ministry of Corporate Affairs has revised the threshold for paid up capital of “Small Companies”. Consider the following statements regarding the Small Companies:
1. The Companies Act 2021 defines the rules and provisions regarding a Small Company.
2. Its turnover should not be exceeding Rs 40 crore.
Which of the given statements is/are correct?
Correct
Correct Answer: C
Explanation
Both statements are correct.
Small Company
• Small businesses are corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation.
• The Companies Act 2021 defines the rules and provisions regarding a Small Company
Incorrect
Correct Answer: C
Explanation
Both statements are correct.
Small Company
• Small businesses are corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation.
• The Companies Act 2021 defines the rules and provisions regarding a Small Company
Question 4 of 10
4. Question
2 points
With reference to the Logistics Data Bank, consider the following statements:
It aims to cater the logistics sector of India through the use of Information Technology.
It was conceived as one of the smart community projects between India and the US.
Which of the above statements is/are correct?
Correct
Correct Answer: A
Explanation
Statement 1 is correct, 2 is not correct.
Logistics Data Bank (LDB) Project:
The project was unveiled in 2016. It aims to make India’s logistics sector more efficient through the use of Information Technology. Hence statement 1 is correct.
It is a project of NICDC (National Industrial Corridor Development Corporation Limited) Logistics Data Services.
NICDC -NLDS is a joint venture between Government of India represented by National Industrial Corridor Development and Implementation Trust (NICDIT) and Japanese IT major NEC Corporation, with 50:50 equity participation.
It covers the entire movement of containers through rail or road till the Inland Container Depot and Container Freight Station.
• LDB was conceived as one of the smart community projects between India and Japan during the initial stages of planning of Delhi Mumbai Industrial Corridor project. Hence statement 2 is not correct
Incorrect
Correct Answer: A
Explanation
Statement 1 is correct, 2 is not correct.
Logistics Data Bank (LDB) Project:
The project was unveiled in 2016. It aims to make India’s logistics sector more efficient through the use of Information Technology. Hence statement 1 is correct.
It is a project of NICDC (National Industrial Corridor Development Corporation Limited) Logistics Data Services.
NICDC -NLDS is a joint venture between Government of India represented by National Industrial Corridor Development and Implementation Trust (NICDIT) and Japanese IT major NEC Corporation, with 50:50 equity participation.
It covers the entire movement of containers through rail or road till the Inland Container Depot and Container Freight Station.
• LDB was conceived as one of the smart community projects between India and Japan during the initial stages of planning of Delhi Mumbai Industrial Corridor project. Hence statement 2 is not correct
Question 5 of 10
5. Question
2 points
With reference to the Agriculture Infrastructure Fund (AIF), consider the following statements:
It provides long term debt financing facility for investment in viable projects for post-harvest management.
It provides social security to small and marginal farmers through a financial support of Rs. 3,000 per month.
The duration of the Scheme shall be from 2020 to 2032.
Which of the above statements is/are correct?
Correct
Correct Answer: C
Explanation
Statements 1 and 3 are correct, 2 is not correct.
Agriculture Infrastructure Fund (AIF)
The Union Cabinet in 2020 approved the Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility) from FY2020 to FY2032. Hence statement 3 is correct.
It will provide a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through financial support. Hence statement 1 is correct.
Benefits:
All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore.
Rs. 1 Lakh Crore is provided by banks and financial institutions as loans to
Primary Agricultural Credit Societies (PACS),
Marketing Cooperative Societies,
Farmer Producers Organizations(FPOs),
Self Help Group (SHG), Farmers,
Joint Liability Groups (JLG),
Multipurpose Cooperative Societies,
7. Agri-entrepreneurs, Startups and Central/State agency or Local Body sponsored Public Private Partnership Projects. Hence statement 2 is NOT correct.
Incorrect
Correct Answer: C
Explanation
Statements 1 and 3 are correct, 2 is not correct.
Agriculture Infrastructure Fund (AIF)
The Union Cabinet in 2020 approved the Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility) from FY2020 to FY2032. Hence statement 3 is correct.
It will provide a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through financial support. Hence statement 1 is correct.
Benefits:
All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore.
Rs. 1 Lakh Crore is provided by banks and financial institutions as loans to
Primary Agricultural Credit Societies (PACS),
Marketing Cooperative Societies,
Farmer Producers Organizations(FPOs),
Self Help Group (SHG), Farmers,
Joint Liability Groups (JLG),
Multipurpose Cooperative Societies,
7. Agri-entrepreneurs, Startups and Central/State agency or Local Body sponsored Public Private Partnership Projects. Hence statement 2 is NOT correct.
Question 6 of 10
6. Question
2 points
With reference to Inclusive Digital Economy Scorecard (IDES), consider the following statements:
1. It has been developed by the United Nations Capital Development Fund (UNCDF).
2. It support countries in better monitoring the status of their digital transformation.
3. It is published as a part of world banks’ Digital Adoption Index.
Which of the above statements is/are correct?
Correct
Correct Answer: A
Explanation
Statements 1 and 2 are correct, 3 is not correct.
Inclusive Digital Economy Scorecard (IDES)
• It is a strategic performance and policy tool to support countries in better understanding and monitoring the status of their digital transformation. Hence statement 2 is correct.
• It is developed by the United Nations Capital Development Fund (UNCDF). Hence statement 1 is correct.
• Supported by: organizations like (GSMA, EU, UNDP, UNCTAD, UN-DESA) and governments in four least developed countries (LDCs): Burkina Faso, Nepal, Solomon Islands and Uganda.
• The input from the reference group helps to refine the scorecard and its indicators.
• It identifies market constraints hindering the development of an inclusive digital economy and helps governments to set the right priorities with public and private stakeholders.
• IDES is published independent of world banks’ Digital Adoption Index. Hence statement 3 is NOT correct.
Incorrect
Question 7 of 10
7. Question
2 points
With reference to Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022, Consider the following statements:
1. Commercial and industrial consumers are allowed to purchase power on voluntarily basis.
2. For urban areas, stand-alone system for electricity generation and distribution is permitted.
3. The limit of Green-energy Open Access Transaction has been reduced from 1 MW to 100 kW.
Which of the above statements is/are correct?
Correct
Correct Answer: C
Explanation
Statements 1 and 3 are correct, 2 is not correct.
Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022
• Ministry of Power notified Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022.
• Aim: To further accelerate renewable energy programmes, while ensuring access to affordable, reliable, sustainable and green energy for all.
Incorrect
Correct Answer: C
Explanation
Statements 1 and 3 are correct, 2 is not correct.
Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022
• Ministry of Power notified Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022.
• Aim: To further accelerate renewable energy programmes, while ensuring access to affordable, reliable, sustainable and green energy for all.
Question 8 of 10
8. Question
2 points
Consider the following statements:
1. Under this, a platform was jointly developed by Department of Animal Husbandry and Dairying and National Dairy Development Board.
2. Farmers can access the markets, irrespective of their location or holdings.
3. It has disease surveillance and control programmes for animals.
Which of the following scheme is described by above facts?
Correct
Correct Answer: A
Explanation
National Digital Livestock Mission
• Union Minister of State for Fisheries, Animal Husbandry & Dairying launched National Digital Livestock Mission (NDLM) in 2021.
• Aim: To create a farmer-centric, technology-enabled ecosystem for livestock.
• It is a digital platform developed jointly by the Department of Animal Husbandry and Dairying (DAHD) and National Dairy Development Board (NDDB).
• It will also have animal breeding systems, nutrition, disease surveillance, disease control programmes and a traceability mechanism for animals and animal product.
Incorrect
Correct Answer: A
Explanation
National Digital Livestock Mission
• Union Minister of State for Fisheries, Animal Husbandry & Dairying launched National Digital Livestock Mission (NDLM) in 2021.
• Aim: To create a farmer-centric, technology-enabled ecosystem for livestock.
• It is a digital platform developed jointly by the Department of Animal Husbandry and Dairying (DAHD) and National Dairy Development Board (NDDB).
• It will also have animal breeding systems, nutrition, disease surveillance, disease control programmes and a traceability mechanism for animals and animal product.
Question 9 of 10
9. Question
2 points
In context of Indian Pharmacopoeia Commission (IPC), consider the following statements:
1. It is an autonomous Institution under Ministry of Health and Family Welfare.
2. Secretary of Ministry of Health and Family Welfare is the Chairperson.
3. It prescribes standards for purity of drugs required from health care perspective of human beings and animals.
Which of the above statements is/are correct?
Correct
Correct Answer: D
Explanation
All the statements are correct.
Indian Pharmacopoeia Commission (IPC)
• IPC is an Autonomous Institution of the Ministry of Health and Family Welfare.
• It is created to set standards of drugs in the country.
• Aim: To update regularly the standards of drugs commonly required for treatment of diseases prevailing in this region.
• Secretary of Ministry of Health and Family Welfare is the Chairperson.
• Chairman-Scientific Body is the Co-Chairman of the Commission.
• The Secretary-cum-Scientific Director is the Chief Scientific and Executive Officer of the Commission.
Objectives
• To develop monographs for herbal drugs, both raw drugs and extracts/formulations therefrom.
• To accord priority to monographs of drugs included in the National Essential Medicines List and their dosage forms.
• To take note of the different levels of sophistication in analytical testing/ instrumentation available while framing the monographs.
• To accelerate the process of preparation, certification and distribution of IP Reference Substances, including the related substances, impurities and degradation products.
• To publish the National Formulary of India for updating medical practitioners and other healthcare professionals.
Incorrect
Correct Answer: D
Explanation
All the statements are correct.
Indian Pharmacopoeia Commission (IPC)
• IPC is an Autonomous Institution of the Ministry of Health and Family Welfare.
• It is created to set standards of drugs in the country.
• Aim: To update regularly the standards of drugs commonly required for treatment of diseases prevailing in this region.
• Secretary of Ministry of Health and Family Welfare is the Chairperson.
• Chairman-Scientific Body is the Co-Chairman of the Commission.
• The Secretary-cum-Scientific Director is the Chief Scientific and Executive Officer of the Commission.
Objectives
• To develop monographs for herbal drugs, both raw drugs and extracts/formulations therefrom.
• To accord priority to monographs of drugs included in the National Essential Medicines List and their dosage forms.
• To take note of the different levels of sophistication in analytical testing/ instrumentation available while framing the monographs.
• To accelerate the process of preparation, certification and distribution of IP Reference Substances, including the related substances, impurities and degradation products.
• To publish the National Formulary of India for updating medical practitioners and other healthcare professionals.
Question 10 of 10
10. Question
2 points
Consider the following statements regarding Coal Controller Organization (CCO):
1. It manages the nationalized coal mines of the Coal Mines Authority of Central division.
2. It collects coal production data of all private and public sector coal mines in the country.
3. It Act as the appellate authority in case of dispute between consumers and owner arising out of declaration of grade and size of coal.
Which of the above statements is/are correct?
Correct
Correct Answer: A
Explanation
Statements 2 and 3 are correct, 1 is not correct.
Coal Controller Organization (CCO)
• It is a subordinate office of the Ministry of Coal.
• It collects and maintains coal production data of all private and public sector coal mines in the country. Hence statement 2 is correct.
• The information is collected on a monthly basis.
• Central Coalfields Limited (CCL) manages the nationalized coal mines of the Coal Mines Authority, Central division. Hence statement 1 is not correct.
Functions and Responsibilities of CCO
• Inspection of collieries so as to ensure the correctness of the class, grade or size of coal.
• To issue directives for the purpose of declaration and maintenance of grades of coal of a seam mined in a colliery.
• Act as the appellate authority in case of dispute between consumers and owner arising out of declaration of grade and size of coal. Hence statement 3is correct.
• To regulate disposal of stock of coal or the expected output of coal in the colliery.
• To grant opening / re-opening permission of coal mine, seam or a section of seam or to sub-divide a mine.
• Assessment and collection of excise duty levied on all raw coal raised and dispatched.
Incorrect
Correct Answer: A
Explanation
Statements 2 and 3 are correct, 1 is not correct.
Coal Controller Organization (CCO)
• It is a subordinate office of the Ministry of Coal.
• It collects and maintains coal production data of all private and public sector coal mines in the country. Hence statement 2 is correct.
• The information is collected on a monthly basis.
• Central Coalfields Limited (CCL) manages the nationalized coal mines of the Coal Mines Authority, Central division. Hence statement 1 is not correct.
Functions and Responsibilities of CCO
• Inspection of collieries so as to ensure the correctness of the class, grade or size of coal.
• To issue directives for the purpose of declaration and maintenance of grades of coal of a seam mined in a colliery.
• Act as the appellate authority in case of dispute between consumers and owner arising out of declaration of grade and size of coal. Hence statement 3is correct.
• To regulate disposal of stock of coal or the expected output of coal in the colliery.
• To grant opening / re-opening permission of coal mine, seam or a section of seam or to sub-divide a mine.
• Assessment and collection of excise duty levied on all raw coal raised and dispatched.
