The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2021. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT AFFAIRS QUIZ 2020
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 pointsAs an alternative dispute resolution tool, Lok Adalats are regularly organised to help parties reach a compromise. Which of the following cases are usually taken up by Lok Adalats to help parties reach a compromise?
- Motor-accident claims
- Disputes related to public-utility services
- Cases related to dishonour of cheques
- Matrimonial disputes including divorce
Select the correct answer code:
Correct
Solution: a)
As an alternative dispute resolution tool, Lok Adalats are regularly organised to help parties reach a compromise. Motor-accident claims, disputes related to public-utility services, cases related to dishonour of cheques, and land, labour and matrimonial disputes (except divorce) are usually taken up by Lok Adalats.
Incorrect
Solution: a)
As an alternative dispute resolution tool, Lok Adalats are regularly organised to help parties reach a compromise. Motor-accident claims, disputes related to public-utility services, cases related to dishonour of cheques, and land, labour and matrimonial disputes (except divorce) are usually taken up by Lok Adalats.
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Question 2 of 5
2. Question
1 pointsAfghanistan is a member of which of the following organisations and Agreements?
- South Asia Subregional Economic Cooperation (SASEC)
- South Asian Free Trade Area (SAFTA)
- Shanghai Cooperation Organisation (SCO)
- South Asian Association for Regional Cooperation (SAARC)
- Organisation of Islamic Cooperation (OIC)
Select the correct answer code:
Correct
Solution: b)
Afghanistan is a member of WTO, SAARC, Economic Cooperation Organization (ECO), and OIC. It holds an observer status in SCO.
South Asian Free Trade Area (SAFTA) is an agreement reached on January 6, 2004, at the 12th SAARC summit in Islamabad, Pakistan. It created a free-trade area in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
Incorrect
Solution: b)
Afghanistan is a member of WTO, SAARC, Economic Cooperation Organization (ECO), and OIC. It holds an observer status in SCO.
South Asian Free Trade Area (SAFTA) is an agreement reached on January 6, 2004, at the 12th SAARC summit in Islamabad, Pakistan. It created a free-trade area in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
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Question 3 of 5
3. Question
1 pointsConsider the following statements regarding G-SAP initiative, recently seen in news.
- It is the initiative of the RBI, where it buys Government bonds from the secondary market.
- It is long term in nature and its main intention is to stimulate the economy.
- This will help the government borrowing sail through smoothly.
Which of the above statements is/are correct?
Correct
Solution: b)
The RBI Governor unveiling the secondary market G-sec acquisition programme – G-SAP – in the recent monetary policy had many experts pointing out that this move is very similar to the quantitative easing programmes initiated by central banks of advanced economies.
But while the programme is styled like QE of advanced economies, the RBI has not gone that path entirely. It’s QE is very short-term in nature, is restricted to G-secs and the intention is not to stimulate the economy.
The announcement of G-SAP 1.0, which promised to buy government bonds worth ₹1 lakh crore from secondary market in the first quarter of 2021-22 was done mainly to calm bond markets. Yields of 10-year bond yields, that had hovered around 5.90 per cent prior to the Union Budget had shot higher past 6.20 per cent since then, mainly due to the large central government borrowing of ₹12.03 lakh in FY22. If the State government borrowings are to be added, the total borrowings could near ₹20 lakh crore.
The other reason behind the G-SAP was to help the government borrowing sail through smoothly.
While the G-SAP looks like a QE programme, it is not entirely so. One, the RBI has given visibility about the purchases in just one quarter. The quantum of purchases can be much lower/higher in the subsequent quarters. Typical QE programmes of other countries promise purchase of specified value of bonds for an extended period.
Two, the QE programmes promise purchases of variety of securities such as mortgage backed securities and real estate bonds in order to provide liquidity to specific sectors. RBI’s program is limited to government bonds.
The aim of the QE programmes in other countries is to impart liquidity in to the system to promote growth. The aim of the G-SAP is not to infuse liquidity.
Incorrect
Solution: b)
The RBI Governor unveiling the secondary market G-sec acquisition programme – G-SAP – in the recent monetary policy had many experts pointing out that this move is very similar to the quantitative easing programmes initiated by central banks of advanced economies.
But while the programme is styled like QE of advanced economies, the RBI has not gone that path entirely. It’s QE is very short-term in nature, is restricted to G-secs and the intention is not to stimulate the economy.
The announcement of G-SAP 1.0, which promised to buy government bonds worth ₹1 lakh crore from secondary market in the first quarter of 2021-22 was done mainly to calm bond markets. Yields of 10-year bond yields, that had hovered around 5.90 per cent prior to the Union Budget had shot higher past 6.20 per cent since then, mainly due to the large central government borrowing of ₹12.03 lakh in FY22. If the State government borrowings are to be added, the total borrowings could near ₹20 lakh crore.
The other reason behind the G-SAP was to help the government borrowing sail through smoothly.
While the G-SAP looks like a QE programme, it is not entirely so. One, the RBI has given visibility about the purchases in just one quarter. The quantum of purchases can be much lower/higher in the subsequent quarters. Typical QE programmes of other countries promise purchase of specified value of bonds for an extended period.
Two, the QE programmes promise purchases of variety of securities such as mortgage backed securities and real estate bonds in order to provide liquidity to specific sectors. RBI’s program is limited to government bonds.
The aim of the QE programmes in other countries is to impart liquidity in to the system to promote growth. The aim of the G-SAP is not to infuse liquidity.
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Question 4 of 5
4. Question
1 pointsDepreciation in the rupee would negatively impact Indian in which of the following areas?
- Foreign education
- Foreign Travel
- Investments abroad
- NRI sending money back home
- Crude import
Select the correct answer code:
Correct
Solution: b)
Depreciation in the rupee impacts all expenditure in dollar terms— imports, foreign education, travel, investments abroad, medical treatment etc. On the other hand, if you are an exporter or an NRI sending money back home, depreciation would fetch you more rupees per dollar.
A depreciating rupee increases the cost of crude import, which accounts for almost 20% of India’s imports. A rise in cost of crude raises fuel prices and inflation. That, in turn, leads to a rise in interest rates, which increases our borrowing cost.
Incorrect
Solution: b)
Depreciation in the rupee impacts all expenditure in dollar terms— imports, foreign education, travel, investments abroad, medical treatment etc. On the other hand, if you are an exporter or an NRI sending money back home, depreciation would fetch you more rupees per dollar.
A depreciating rupee increases the cost of crude import, which accounts for almost 20% of India’s imports. A rise in cost of crude raises fuel prices and inflation. That, in turn, leads to a rise in interest rates, which increases our borrowing cost.
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Question 5 of 5
5. Question
1 pointsBaltic Sea shares border with which of the following countries?
- Russia
- Norway
- Finland
- Poland
Select the correct answer code:
Correct
Solution: c)
The Baltic Sea is an arm of the Atlantic Ocean, enclosed by Denmark, Estonia, Finland, Latvia, Lithuania, Sweden, northeast Germany, Poland, Russia and the North and Central European Plain.
Incorrect
Solution: c)
The Baltic Sea is an arm of the Atlantic Ocean, enclosed by Denmark, Estonia, Finland, Latvia, Lithuania, Sweden, northeast Germany, Poland, Russia and the North and Central European Plain.