[MISSION 2023] RTM(Revision through MCQs)- 22 Oct 2022

Ans: (d)

Explanation:

• Option A: This would help control imports and thus the depreciation of rupee.
• Option B: Masala bonds were brought in to curb slide of rupee since the borrowing is rupee-dominated and does not put pressure on our currency through borrowing dollars.
• Option C: Easing ECBs will lead to higher borrowing abroad and would temporarily bridge the deficit of forex in India preventing the slide of rupee.
• Option D: An expansionary monetary policy may lead to lower interest rates and thus flight of foreign capital from India (which would get better returns abroad). Also, such a policy may fuel inflation and higher imports through higher government spending and further cause slide of rupee. So, D is the answer.

Refer: https://www.insightsonindia.com/2022/10/22/internationalization-of-rupee/

Ans: (a)

Explanation:

• Imports become expensive because now the same value of local currency and can buy less of foreign currency.
• Exports become more competitive (beneficial to domestic exporters) because now foreign buyers will find it easy to buy domestic goods.
• Foreign borrowers who owe the debt from a domestic bank in domestic currency will benefit because now they need to pay less in terms of their original borrowing which was in foreign currency.

Refer: https://www.insightsonindia.com/2022/10/22/internationalization-of-rupee/

Ans: (d)

Explanation:

• What is Section 66A?
  • Section 66A defines the punishment for sending “offensive” messages through a computer or any other communication device like a mobile phone or a tablet.
  • A conviction can fetch a maximum of three years in jail and a fine.
  • It empowered police to make arrests over what policemen, in terms of their subjective discretion, could construe as “offensive” or “menacing” or for the purposes of causing annoyance, inconvenience, etc.
• Shreya Singhal case:
  • The Supreme Court had in its judgment in the Shreya Singhal case struck down Section 66A.

Refer: https://www.insightsonindia.com/2022/10/22/an-online-fight-where-children-need-to-be-saved/

Ans: (c)

Explanation:

• Article 280 of the Constitution of India provides for a Finance Commission as a quasi-judicial body. It is constituted by the president of India every fifth year or at such earlier time as he considers necessary.
• The commission submits its report to the president. He lays it before both the Houses of Parliament along with an explanatory memorandum as to the action taken on its recommendations.
• The recommendations made by the Finance Commission are only of advisory nature and hence, not binding on the government. It is up to the Union government to implement its recommendations on granting money to the states.

Refer: https://www.insightsonindia.com/2022/10/22/post-disaster-needs-assessment-pdna-2/

Ans: (b)

Explanation:

• S1: The National Investigation Agency is India’s counter-terrorist task force.
• CBI is the premier investigating agency of India.
• S2: Operating under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions, Government of India.
• S3: The CBI is governed by the Delhi Special Police Establishment Act that makes consent of a state government mandatory for conducting investigation in that state.

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/

Ans: (c)

Explanation:

• The CBI had filed the affidavit after the court inquired last month about the bottlenecks it faced, and the steps it had taken to strengthen prosecutions.
• Which states have withdrawn general consent, and why?
  • Eight states have currently withdrawn consent to the CBI: Maharashtra, Punjab, Rajasthan, West Bengal, Jharkhand, Chhattisgarh, Kerala, and Mizoram. All except Mizoram are ruled by the opposition.
• Centre’s response:
  • State governments do not have any “absolute” power to keep the Central Bureau of Investigation (CBI) from investigating crimes inside the State.
  • Not even the Union government”, has the authority to rattle the autonomy of the premier agency to conduct investigations.
  • Also, withdrawal of general consent would not stand in the way of constitutional courts entrusting the CBI with the cases “where it is found that the State Police would not effectively conduct a fair and impartial investigation”.
  • Besides, the CBI was empowered to probe cases concerning any of the Central subjects enumerated in the Union List in the Seventh Schedule of the Constitution.
• Why is consent necessary?
  • The CBI is governed by the Delhi Special Police Establishment Act that makes consent of a state government mandatory for conducting investigation in that state.

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/

Ans: (a)

Explanation:

• The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d’action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest .
• FATF is an initiative of the G7 countries to combat money laundering. 2. The FATF Secretariat is housed at the headquarters of the OECD in Paris.
• It is a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in various areas.

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/

Ans: (c)

Explanation: What are a blacklist and a grey list?

• Black List:Countries known as Non-Cooperative Countries or Territories (NCCTs) are put on the blacklist. These countries support terror funding and money laundering activities.
• Currently, it includes countries likeIran, Myanmar and North Korea.
• Grey List:Countries that are considered a safe haven for supporting terror funding and money laundering are put on the FATF grey list. This inclusion serves as a warning to the country that it may enter the blacklist.
• After, Pakistan’s delisting, 23 countries remainunder watch including countries like the Philippines, Syria, Yemen, the United Arab Emirates

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/

Ans: (c)

Explanation:

• PSF was set up in 2014–15with the aim of moderating extreme price volatility of commodities such as Pulses, Onion and Potatoes by maintaining a strategic buffer.
• Such goods will be procured directly from farmers or farmers’ organisationsat the farm gate/mandi, and made available to consumers at a more affordable price.
• PSF scheme provides interest-free loansto State Governments/Union Territories (UTs) and Central Agencies for the procurement and distribution of such commodities.
• It is under the Department of Consumer Affairs(Ministry of Consumer Affairs, Food and Public Distribution).

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/

Ans: (d)

Explanation: Climate Transparency Report 2022

• It is the World’s most comprehensive annual review of G20 countries’ climate actionand their transition to a net zero emissions  It is prepared by experts from 16 partner organizations from the majority of the G20 countries.
• India’s Climate Pledge
  • Net-zero by 2070
  • Reduce the Emission intensity of GDP by 45% (from the 2005 level) by 2030
  • 50% of its energy from non-fossil fuel by 2030
  • Mission LiFE

Refer: facts for prelims: https://www.insightsonindia.com/2022/10/22/mission-2023-insights-daily-current-affairs-pib-summary-21-october-2022-2/