[MISSION 2023] RTM(Revision through MCQs)- 02 Jan 2023

Ans: (d)

Explanation:

• Option A:This would help control imports and thus the depreciation of the rupee.
• Option B:Masala bonds were brought in to curb the 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 a slide of the rupee. So, D is the answer.

Refer: https://www.insightsonindia.com/2023/01/02/why-the-indian-rupee-fell-10-against-the-us-dollar-in-2022/

Ans: (d)

Explanation:

• Demand-Pull Inflation
  • This type of inflation is caused due to an increase in aggregate demand in the economy.
• Causes of Demand-Pull Inflation:
  • A growing economy or increase in the supply of money – When consumers feel confident, they spend more and take on more debt. This leads to a steady increase in demand, which means higher prices.
  • Asset inflation or Increase in Forex reserves.
• Government spending or Deficit financing by the government – When the government spends more freely, prices go up.
  • Due to fiscal stimulus.
  • Increased borrowing.
  • Depreciation of rupee.
  • Low unemployment rate.
• Effects of Demand-Pull Inflation:
  • Shortage in supply
  • Increase in the prices of the goods (inflation).
  • The overall increase in the cost of living.

Refer: https://www.insightsonindia.com/2023/01/02/why-the-indian-rupee-fell-10-against-the-us-dollar-in-2022/

Ans: (c )

Explanation:

• When the general price level rises in a country due to the rise in prices of imported commodities, inflation is termed imported. Inflation may also rise due to depreciation of the domestic currency, which pushes up the landed rupee cost of imported items.

Refer: https://www.insightsonindia.com/2023/01/02/why-the-indian-rupee-fell-10-against-the-us-dollar-in-2022/

Ans: (b)

Explanation:

• Lok Adalat is a forum where the cases (or disputes) which are pending in a court or which are at pre-litigation stage (not yet brought before a court) are compromised or settled in an amicable manner.
• The institution of Lok Adalat has been given statutory status under the Legal Services Authorities Act, 1987.
• The Lok Adalat shall have no jurisdiction in respect of any case or matter relating to an offence not compoundable under any law. In other words, the offences which are non-compoundable under any law fall outside the purview of the Lok Adalat.
• Every Lok Adalat organized for an area shall consist of such number of serving or retired judicial officers and other persons of the area as may be specified by the agency organizing such Lok Adalat. Generally, a Lok Adalat consists of a judicial officer as the chairman and a lawyer (advocate) and a social worker as members.

Refer:https://www.insightsonindia.com/2023/01/02/why-has-loan-recovery-via-lok-adalat-jumped-four-fold/

Ans: (d)

Explanation:

• The first Lok Adalat camp in the post-independence era was organized in Gujarat in 1982..
• Statutory provisions:
  • Under the Legal Services Authorities Act, 1987 Lok Adalats have been given statutory status.
• Final award:
  • The decision made by the Lok Adalats is considered to be a verdict of a civil court and is ultimate and binding on all parties.
• No appeal:
  • There is no provision for an appeal against the verdict made by Lok Adalat.
  • But, they are free to initiate litigation by approaching the court of appropriate jurisdiction by filing a case by following the required procedure, in exercise of their right to litigate.
• Court fee:
  • There is no court fee payable when a matter is filed in a Lok Adalat. If a matter pending in the court of law is referred to the Lok Adalat and is settled subsequently, the court fee originally paid in the court on the complaints/petition is also refunded back to the parties.
• Nature of Cases to be Referred to Lok Adalat:
  • Any case pending before any court.
  • Any dispute which has not been brought before any court and is likely to be filed before the court.
  • Provided that any matter relating to an offence not compoundable under the law shall not be settled in Lok Adalat.

Refer: https://www.insightsonindia.com/2023/01/02/why-has-loan-recovery-via-lok-adalat-jumped-four-fold/

Ans: (b)

Explanation:

• Stat1: The National Legal Services Authority (NALSA) has been constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society. The Chief Justice of India is the Patron-in-Chief and the senior most Judge of the Supreme Court of India is the Executive Chairman of the Authority.
• Stat2: NALSA along with other Legal Services Institutions conducts Lok Adalats. Lok Adalat is one of the alternative dispute redressal mechanisms. Lok Adalats have been given statutory status under the Legal Services Authorities Act, 1987. There is no court fee payable when a matter is filed in a Lok Adalat. If a matter pending in the court of law is referred to the Lok Adalat and is settled subsequently, the court fee originally paid in the court on the complaints/petition is also refunded back to the parties.
• Stat3: The jurisdiction of the Permanent Lok Adalats is upto One Crore.

Refer: https://www.insightsonindia.com/2023/01/02/why-has-loan-recovery-via-lok-adalat-jumped-four-fold/

Ans: (d)

Explanation:

• Kalasa-Banduri Nala project : Undertaken by the Government of Karnataka to improve drinking water supply to the Districts of Belagavi, Dharwad, and Gadag. It involves building across Kalasa and Banduri, two tributaries of the Mahadayi river to divert 7.56 TMC of water to the Malaprabha river.
• Mahadayi river rises in the Western Ghats, from the Bhimgad Wildlife Sanctuary in Khanapur taluk of Karnataka’s Belagavi district.

Refer: facts for prelims: https://www.insightsonindia.com/2023/01/02/mission-2023-insights-daily-current-affairs-pib-summary-2-january-2023/

Ans: (c )

Explanation:

• The Mahadayi/Mandovi River is described as the lifeline of the Indian state of Goa. The Mandovi and the Zuari are the two primary rivers in the state of Goa. Mandovi joins with the Zuari at a common creek at Cabo Aguada, forming the Mormugao harbour.
• Mandovi river originates from a cluster of 30 springs at Bhimgad in the Western Ghats in the Belagavi district of Karnataka. The river also houses the island of Chorao (Goa) where the Salim Ali Bird Sanctuary is located. Dudhsagar falls ( in Goa) lies on this river.

Refer: facts for prelims: https://www.insightsonindia.com/2023/01/02/mission-2023-insights-daily-current-affairs-pib-summary-2-january-2023/

Ans: (c )

Explanation:

• The Department of Chemicals and Petrochemicals under the Ministry of Chemicals and Fertilizers issued a gazette notification titled Ethylene Glycol (Quality Control) Order, 2022
• Recently, Uzbekistan alleged 18 child deaths in Samarkand from the consumption of medicinal syrup manufactured by an Indian drugmaker (Marion Biotech’s cough syrup Dok 1 Max). The syrup is manufactured containing ethylene glycol
• Previously, In October, four sub-standard India-made products typically used to treat cough symptoms had caused the deaths of 66 children in Gambia (Africa)

Refer: facts for prelims: https://www.insightsonindia.com/2023/01/02/mission-2023-insights-daily-current-affairs-pib-summary-2-january-2023/

Ans: (c )

Explanation:

• Satyendra Nath Bose (1 January 1894 – 4 February 1974) was a Bengali mathematician and physicist specializing in theoretical physics.
• He is best known for his work on quantum mechanics in the early 1920s, in developing the foundation for Bose-Einstein statistics and the theory of the Bose condensate.
• A Fellow of the Royal Society, he was awarded India’s second-highest civilian award, the Padma Vibhushan (in 1954) by the Government of India.
• The class of particles that obey Bose statistics, bosons, was named after Bose by Paul Dirac.

Refer: facts for prelims: https://www.insightsonindia.com/2023/01/02/mission-2023-insights-daily-current-affairs-pib-summary-2-january-2023/