[Mission 2023] QUED ( Questions from Editorials ) 21 October 2022

Solution: c)

The Reserve Bank of India (RBI) announced the guidelines for DBUs, following the report of a working group of the Indian Banks Association (IBA). A digital banking unit is a specialised fixed point business unit or hub, housing a certain minimum digital infrastructure for delivering digital banking products and services as well as servicing existing financial products and services digitally in self-service mode at any time.

Commercial banks (other than regional rural banks, payment banks and local area banks) with past digital banking experience are permitted to open DBUs in tier 1 to tier 6 centres, unless otherwise specifically restricted, without having the need to take permission from the RBI in each case.

As per the RBI, each DBU must offer certain minimum digital banking products and services. Such products should be on both liabilities and assets side of the balance sheet of the digital banking segment. Digitally value-added services to conventional products would also qualify as such.

How will these DBUs compete with fintechs?

Currently, fintechs operating as neobanks offer digital banking services but they do so in partnership with non-banking financial companies (NBFCs). Some of the neobanks offering services in India are Jupiter, Fi Money, Niyo, Razorpay X.

Compared to conventional banks with online and mobile banking facilities, neobanks or digital banks excel at product innovation and offer far better digital solutions.

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Solution: d)

Namdapha National Park and Tiger Reserve in Arunachal Pradesh’s Changlang district. The 1,985 sq. km reserve bordering Myanmar has an elevation varying from 200 metres to 4,571 metres above sea level.

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Solution: c)

Pongamia

There is several non edible oil yielding trees that can be grown to produce biofuel. Karanja (Pongamia) is one of the most suitable trees. It is widely grown in various parts of the country.

Salient features of Pongamia

• It is a Nitrogen fixing tree and hence enriches the soil fertility
• It is generally not grazed by animals
• It is tolerant to water logging, saline and alkaline soils,
• It can withstand harsh climates (medium to high rainfall).
• It can be planted on degraded, waste/fallow and cultivable lands
• Pongamiaseeds contain 30-40% oil.
• It helps in controlling soil erosion and binding sand dunes, because of its dense network of lateral roots.
• Its root, bark, leaves, sap, and flower have medicinal properties. Dried leaves are used as an insect repellent in stored grains.

Properties of Pongamia Oil

• Non edible oil is largely extracted from seeds.
• The collected seeds consist of 95% kernel
• The oil content varies between 27 – 40%.
• Apart from use as a biofuel, the oil can be used for lighting lamps, lubricant, water-paint binder, pesticide, and in soap making and tanning industries
• The oil is known to be used for the treatment of rheumatism and human and animal skin diseases.
• The press cake (left over after oil extraction) is rich in Nitrogen and hence can be used for improving soil fertility.

Pongamia seed oil Vs standard petroleum/diesel

• Pongamia seed oil as a bio- fuel has physical properties very similar to conventional diesel.
• It is, however a clean fuel (eco friendly) than conventional diesel

Solution: a)

Parole is a system of releasing a prisoner with suspension of the sentence. The release is conditional, usually subject to behaviour, and requires periodic reporting to the authorities for a set period of time.

A broadly similar concept is furlough, which is given in case of long-term imprisonment. While furlough is seen as a matter of right, to be granted periodically irrespective of any reason and merely to enable the prisoner to retain family and social ties, parole is not a matter of right and may be denied to a prisoner even when he makes out a sufficient case.

The Supreme Court in ‘Asfaq vs State of Rajasthan and Others’ in 2017 said the main purpose of parole and furlough — a conditional temporary release, but with a benefit that such a period of release is considered part of the total sentence — is to afford a convict the opportunity to solve their personal and family problems and enable them to maintain their links with society.

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Solution: b)

The term demographic trap is used by demographers “to describe the combination of high fertility (birth rates) and declining mortality (death rates) in developing countries, resulting in a period of high population growth rate (PGR).”      

Sub-replacement fertility in demography refers to any fertility rate below the replacement rate that would cause the population of a certain group of people to decrease over time.