QUIZ – 2020: Insights Current Affairs Quiz, 8 April 2020

Solution: a)

The Central Board of the Reserve Bank of India has decided not to transfer any amount from the CGRA (currency and gold revaluation account), which has Rs 730,000 crore of unrealised gains, to the government as recommended by the Bimal Jalan committee.

CGRA comprises unrealised gains or losses on foreign currency assets and gold due to movement in exchange rate and prices of gold. There will be no distribution of unrealised revaluation balances. This effectively means bulk of the RBI’s Rs 10 lakh crore surplus — mostly lying in CGRA — can’t be touched.  The contention of the RBI Board as well as the Jalan committee is that central bank doesn’t have the money in its CRGA account as it’s unrealised balance.

The CGRA can be used not only for meeting the risks of USD-INR, cross-currency and gold price movements, but also for interest rate risks. Similarly, the Investment Revaluation Account-Rupee Securities and IRA-FS Investment Revaluation Account-Foreign Securities can meet currency and gold price risks in addition to the interest rate risks.

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Solution: d)

The hill ranges of the Western Ghats, a global biodiversity hotspot, extend along the west coast of India from the river Tapti in the north to the southern tip of India.

The Western Ghats contain more than 30 per cent of all plant, fish, herpeto-fauna, bird, and mammal species found in India. Many species are endemic, such as the Nilgiri tahr (Hemitragus hylocrius) and the lion-tailed macaque (Macaca silenus).

The amphibians of the Western Ghats are diverse and unique, with more than 80% of the 179 amphibian species being endemic. The endangered purple frog was discovered in 2003. Several families of frogs, namely of the genera Micrixalus, Indirana, Nyctibatrachus, are endemic to this region.

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Solution: c)

Gee’s golden langur also known as the golden langur, is an Old World monkey found in a small region of western Assam, India and in the neighboring foothills of the Black Mountains of Bhutan. It is one of the most endangered primate species of India.

They are listed in Appendix I of CITES and Schedule I of Wildlife Protection Act, 1972. Gee’s golden langur is currently endangered with the current population trend as decreasing.

The regions of its distribution are very small; the main region is limited to an area approximately 60 miles square bounded on the south by the Brahmaputra River, on the east by the Manas River, on the west by the Sankosh River, all in Assam, and on the north by the Black Mountains of Bhutan.

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Solution: d)

Trans fat, also called trans-unsaturated fatty acids or trans fatty acids, is a type of unsaturated fat that occurs in small amounts in nature, but became widely produced industrially from vegetable fats starting in the 1950s for use in margarine, snack food, packaged baked goods, and for frying fast food.

Naturally-occurring trans fats are produced in the gut of some animals and foods made from these animals (e.g., milk and meat products) may contain small quantities of these fats. Artificial trans fats (or trans fatty acids) are created in an industrial process that adds hydrogen to liquid vegetable oils to make them more solid.

Trans fats are easy to use, inexpensive to produce and last a long time. Trans fats give foods a desirable taste and texture.

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Solution: c)

The Green Climate Fund (GCF) is the world’s largest dedicated fund helping developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change. It was set up by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. GCF has a crucial role in serving the Paris Agreement, supporting the goal of keeping average global temperature rise well below 2 degrees C. It does this by channelling climate finance to developing countries, which have joined other nations in committing to climate action.

Coming from a variety of sources, these resources address the pressing mitigation and adaptation needs of developing countries.

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