Current Affairs Quiz 17 October 2023
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Current Affairs Quiz 17 October 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
Among the following statements, which is/are the components of an “accommodative monetary policy” of the RBI?
1. Maintaining low repo and reverse repo rates.
2. Bulk purchase of gilt-edged securities from the market.
3. Putting restrictions on bank credit operations.
Select the correct answer from the options given below.CorrectAnswer: A
Option 3 is incorrect. Restricting bank credit or lending operations would pull back liquidity from the market which would be counter to accommodative monetary policy stance.
IncorrectAnswer: A
Option 3 is incorrect. Restricting bank credit or lending operations would pull back liquidity from the market which would be counter to accommodative monetary policy stance.
- Question 2 of 5
2. Question
Which of the following statements regarding MSP i.e. Minimum Support Price are Correct?
1) MSP is decided after sowing the crops
2) MSP is fixed by respective state governments
3) MSP is 1.5 times of the cost of production
Which of the above statement is/are correct?CorrectAns:- c) Only 3
Explanation:-
Statement 1 is not correct because , MSP is decided before sowing the crops , Statement 2 is not correct because the MSP is fixed on the recommendations of the Commission for Agricultural Costs and Prices (CACP), the Cabinet Committee on Economic Affairs (CCEA) of the Union government takes a final decision on the level of MSPs and other recommendations made by the CACP.
Statement 3 is correct because it is 1.5 times cost of production
IncorrectAns:- c) Only 3
Explanation:-
Statement 1 is not correct because , MSP is decided before sowing the crops , Statement 2 is not correct because the MSP is fixed on the recommendations of the Commission for Agricultural Costs and Prices (CACP), the Cabinet Committee on Economic Affairs (CCEA) of the Union government takes a final decision on the level of MSPs and other recommendations made by the CACP.
Statement 3 is correct because it is 1.5 times cost of production
- Question 3 of 5
3. Question
What is ‘Deepfake’ a term often mentioned in the news?
CorrectAnswer: D
IncorrectAnswer: D
- Question 4 of 5
4. Question
Consider the following statements regarding Deposit Insurance and Credit Guarantee Corporation (DICGC).
1. DICGC is a subsidiary of RBI that provides deposit insurance to ensure stability in the financial system.
2. It protects small depositors by guaranteeing the safety of their deposits in case of bank failures.
Which of the statements given above is/are correct?CorrectCorrect Answer : C
About DICGC
• DICGC is a subsidiary of RBI that provides deposit insurance to ensure stability in the financial system.
• It protects small depositors by guaranteeing the safety of their deposits in case of bank failures.
• The insurance coverage extends to all licensed commercial banks, including LABs, PBs, SFBs, RRBs, and co-operative banks regulated by RBI.Deposit Insurance Coverage:
• DICGC insures various types of deposits, such as savings, fixed, current, and recurring, including accrued interest.
• Each depositor is insured up to Rs 5 lakh (previously Rs 1 lakh) for the combined principal and interest held in a bank during liquidation or failure.Exclusions from Coverage:
• DICGC does not cover deposits of foreign governments, central/state governments, inter-bank deposits, certain cooperative bank deposits, funds received outside India, or amounts exempted with RBI approval.Funds Maintained by DICGC:
• Deposit Insurance Fund, Credit Guarantee Fund, and General Fund are maintained by DICGC.
• The Deposit Insurance Fund and Credit Guarantee Fund are funded by insurance premiums and guarantee fees, respectively, used to settle relevant claims.
• The General Fund covers establishment and administrative expenses of the Corporation.IncorrectCorrect Answer : C
About DICGC
• DICGC is a subsidiary of RBI that provides deposit insurance to ensure stability in the financial system.
• It protects small depositors by guaranteeing the safety of their deposits in case of bank failures.
• The insurance coverage extends to all licensed commercial banks, including LABs, PBs, SFBs, RRBs, and co-operative banks regulated by RBI.Deposit Insurance Coverage:
• DICGC insures various types of deposits, such as savings, fixed, current, and recurring, including accrued interest.
• Each depositor is insured up to Rs 5 lakh (previously Rs 1 lakh) for the combined principal and interest held in a bank during liquidation or failure.Exclusions from Coverage:
• DICGC does not cover deposits of foreign governments, central/state governments, inter-bank deposits, certain cooperative bank deposits, funds received outside India, or amounts exempted with RBI approval.Funds Maintained by DICGC:
• Deposit Insurance Fund, Credit Guarantee Fund, and General Fund are maintained by DICGC.
• The Deposit Insurance Fund and Credit Guarantee Fund are funded by insurance premiums and guarantee fees, respectively, used to settle relevant claims.
• The General Fund covers establishment and administrative expenses of the Corporation. - Question 5 of 5
5. Question
Consider the following statements regarding Draft pandemic treaty.
1. The draft pandemic treaty is an international agreement proposed to address pandemics and global health emergencies.
2. The primary goal of the treaty is to enhance global cooperation and solidarity in dealing with health threats.
Which of the statements given above is/are correct?CorrectCorrect Answer : C
Draft Pandemic Treaty:
• The draft pandemic treaty is an international agreement proposed to address pandemics and global health emergencies.
• The World Health Organization (WHO) and member states are involved in negotiations for the treaty.
• The primary goal of the treaty is to enhance global cooperation and solidarity in dealing with health threats.
• It encompasses various areas such as surveillance, detection, notification, access to health technologies, collaboration, and accountability.
• The treaty is grounded in principles of human rights, equity, and solidarity, while recognizing each state’s sovereignty in determining its health policies.
• It establishes key entities like a global health threats council, a global health threats fund, and an independent review and evaluation mechanism.
• The draft pandemic treaty is a direct response to the lessons learned from the COVID-19 pandemic, with the aim of improving global pandemic preparedness and response.IncorrectCorrect Answer : C
Draft Pandemic Treaty:
• The draft pandemic treaty is an international agreement proposed to address pandemics and global health emergencies.
• The World Health Organization (WHO) and member states are involved in negotiations for the treaty.
• The primary goal of the treaty is to enhance global cooperation and solidarity in dealing with health threats.
• It encompasses various areas such as surveillance, detection, notification, access to health technologies, collaboration, and accountability.
• The treaty is grounded in principles of human rights, equity, and solidarity, while recognizing each state’s sovereignty in determining its health policies.
• It establishes key entities like a global health threats council, a global health threats fund, and an independent review and evaluation mechanism.
• The draft pandemic treaty is a direct response to the lessons learned from the COVID-19 pandemic, with the aim of improving global pandemic preparedness and response.
