01 August 2022: Daily Current Affairs & GK for HAS/HPAS & Allied Services
1. In India,
which one of the following is responsible for maintaining price stability by
controlling inflation?
a)
Department of Consumer Affairs
b)
Expenditure Management Commission
c) Financial
Stability and Development Council
d) Reserve
Bank of India
Answer:
(d)
Explanation:
·
Reserve Bank of India is responsible for
maintaining price stability and controlling inflation.
·
It is the responsibility of MPC in India, but
RBI itself plays a large role in MPC and also carries out the task of the monetary
policy committee.
·
So, RBI is the correct answer if MPC is not
given in the options
2. Which
of the following, monetary tools are used by RBI to control inflation?
1. Reverse Repo
Rate
2. Statutory
Liquidity Ratio (SLR
3. Marginal
Standing Facility (MSF) Rate
Select the
correct answer using the codes given below.
a) 1 and 2
only
b) 1 only
c) 2 and 3
only
d) 1, 2 and
3
Answer:
(d)
Explanation:
Interment used by RBI to control inflation:
·
Reverse Repo Rate: The interest
rate at which the Reserve Bank absorbs liquidity from banks against the
collateral of eligible government securities under the LAF. Following the
introduction of SDF, the fixed rate reverse repo operations will be at the
discretion of the RBI for purposes specified from time to time. Option 1 is
correct:
·
Statutory Liquidity Ratio (SLR):
Every bank shall maintain in India assets, the value of which shall not be less
than such percentage of the total of its demand and time liabilities in India
as on the last Friday of the second preceding fortnight, as the Reserve Bank
may, by notification in the Official Gazette, specify from time to time and
such assets shall be maintained as may be specified in such notification
(typically in unencumbered government securities, cash, and gold). Option 2 is
correct.
·
Marginal Standing Facility (MSF) Rate:
The penal rate at which banks can borrow, on an overnight basis, from the
Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR) portfolio up
to a pre-defined limit (2 percent). This provides a safety valve against unanticipated
liquidity shocks to the banking system. The MSF rate is placed at 25 basis
points above the policy repo rate. Option 3 is correct.
3.
‘Operation Greens scheme’ is related to which_________?
a) To
promote sustainable agriculture in the N-E region
b) To
increase the productivity of pulses
c) To
enhance the productivity of horticulture commodities.
d) To
stabilize the supply of fruits & vegetables and control its price
volatility.
Answer:
(d)
Explanation:
Ministry of Food Processing Industries (MoFPI) has recently extended
the Operation Greens Scheme from Tomato, Onion, and Potato (TOP) to all fruits
& vegetables (TOTAL) for six months on a pilot basis as part of
Aatmanirbhar Bharat Abhiyan.
4.
Consider the following statements:
1. The
weightage of food in the Consumer Price Index (CPI) is higher than that in the Wholesale Price Index (WPI).
2. The WPI
does not capture changes in the prices of services, which the CPI does.
3. Reserve
Bank of India has now adopted WPI as its key measure of inflation and to decide
on changing the key policy rates.
Which of the
statements given above is/are correct?
a) 1 and 2
only
b) 2 only
c) 3 only
d) 1, 2 and
3
Answer:
(a)
Explanation:
Reason for Divergence between WPI and CPI?
·
Statement 1 is correct: In CPI
Food group has a higher weight of food and beverages which accounts for 45.86 percent (with food at 39.06 percent, prepared meals at 5.55 percent, and
non-alcoholic beverages at 1.26 percent) as compared to the combined weight of
24.4 percent (Food articles and Manufactured Food products) in WPI basket. CPI
basket consists of services like housing, education, medical care, recreation, etc. which are not part of the WPI basket.
·
Statement 2 is correct: CPI
covers goods and services items while WPI covers goods only.
·
Statement 3 is not correct:
Reserve Bank of India has adopted CPI (NOT WPI)
as its key measure of inflation and to decide on change the key policy
rates.
5.
Periodic Labour Force Survey (PLFS) is published by:
a) Ministry
of Home affair
b) Niti Ayog
c) National
Statistical Office (NSO) under MoSPI
d) Finance
Ministry
Answer:
(c)
Explanation:
Periodic Labour Force Survey (PLFS) is published by the National
Statistical Office (NSO) which works under the Ministry of Statistics &
Programme Implementation. It estimates the key employment and unemployment
indicators.
6. Which
of the following countries is not a part of the G5 nation grouping?
a) India
b) the USA
c) Mexico
d) China
Answer:
(b)
Explanation:
·
The Group of Five (G-5) is a country grouping
that since the mid-2000s includes Brazil, China, India, Mexico, and South
Africa.
·
These emerging market economies represent a
fast-growing and increasingly important geopolitical and economic segment of
the world.
7. Which
of the following freedom fighters are regarded as Shaheed-i-Azam?
a) Udham
Singh
b) Bhagat
Singh
c)
Chandrashekhar Azad
d) Lala Har
Dayal
Answer:
(a)
Explanation:
Udham Singh is referred to as Shaheed-i-Azam which means ‘Great Martyr’.
·
He is regarded as one of the foremost
revolutionaries of the Indian Freedom Struggle. Following the Jallianwala
Massacre on 13th April 1919, he got profoundly involved in revolutionary
activities and politics. He was deeply influenced by Bhagat Singh.
·
He joined the Ghadar Party in 1924 to
organize overseas Indians to overthrow colonial rule. In
1927, while returning to India with associates and weapons to carry out revolutionary
activities, he was arrested for illegal possession of firearms and sentenced to
five years in prison. On 13th March 1940, Singh shot Michael O’Dwyer instead
of General Dyer at a meeting of the East India Association and the Royal
Central Asian Society at Caxton Hill.
8.
Consider the following statements about the Monitoring of illegal killing of
elephants (MIKE) program:
1. MIKE was
launched in 2003 by CITES.
2. India
currently does not have any sites under the MIKE program.
Which of the
above statements is correct?
a) 1 only
b) 2 only
c) Both 1
and 2
d) Neither 1
nor 2
Answer:
(a)
Explanation:
·
Statement 1 is correct: The
Monitoring the Killing of Elephants (MIKE) program launched in 2003 is an
international collaboration that tracks trends in information related to the
illegal killing of elephants from across Africa and Asia, to monitor the
effectiveness of field conservation efforts by the Convention on International
Trade in Endangered Species (CITES).
·
Statement 2 is incorrect: There are 10 sites for the MIKE (monitoring
of illegal killing of elephants) program in India.
9.
Monarch butterflies are native to which of the following regions?
a) Europe
b) North
America
c) Africa
d) Asia
Answer:
(b)
Explanation:
The migratory monarch butterfly, found across the continental U.S.,
has been designated as endangered by the International Union for Conservation
of Nature (IUCN)
10.
JYNNEOS vaccine is related to which of the following diseases?
a) Zika
Virus
b) Ebola
c) Marburg
Virus
d) Monkey
Virus
Answer:
(d)
Explanation:
·
There is yet no dedicated monkeypox vaccine,
but vaccinations against smallpox were found to be 85% effective in preventing
smallpox, a disease eradicated in 1980.
·
In 2019, the United States Food and Drugs
Administration (FDA), approved the JYNNEOS vaccine for the prevention of
smallpox, monkeypox, and other diseases caused by Orth poxviruses.
