[MISSION 2023] RTM(Revision through MCQs)- 09 Feb 2023

Ans: (b)

Explanation; About Vijayanagara ruler Krishnadevaraya:

• He was an emperor of the Vijayanagara Empire who reigned from 1509–1529.
• He belonged to the Tuluva Dynasty.
• Krishna Deva Raya earned the titles Kannada Rajya Rama Ramana, Andhra Bhoja and Mooru Rayara Ganda.
• He became the dominant ruler of the peninsula of India by defeating the Sultans of Bijapur, Golconda, the Bahmani Sultanate and the Raja of Odisha.
• The great south Indian mathematician Nilakantha Somayaji also lived in the Empire of Krishnadevaraya.
• Portuguese travellers Domingo Paes and Fernao Nuniz also visited the Vijayanagara Empire during his reign.

Refer: https://www.insightsonindia.com/2023/02/09/victory-city-a-brief-history-of-the-kingdom-of-vijayanagara/

Ans: (c )

Explanation:

• It was the last capital of the last great Hindu Kingdom of Vijayanagar.
• S1:It was a part of the Mauryan Empire back in the third century BC.
  • It is a UNESCO World Heritage site.
• S2: Its name is derived from Pampa which is the old name of the Tungabhadra River on whose banks the city is built.
• S3: The site used to be multi-religious and multi-ethnic;it included Hindu and Jain monuments next to each other.
• Architecture:
• It has been described by UNESCO as an“austere, grandiose site” of more than 1,600 surviving remains of the last great Hindu kingdom in South India.
• The buildings here predominantly followed South Indian Hindu arts and architecture dating to the Aihole-Pattadakal styles,but the Hampi builders also used elements of Indo-Islamic architecture in the Lotus Mahal, the public bath and the elephant stables.
• Hemkunta Hill,south of the Virupaksha temple contains early ruins, Jain temples and a monolithic sculpture of Lord Narasimha, a form of Lord Vishnu.

Refer: https://www.insightsonindia.com/2023/02/09/victory-city-a-brief-history-of-the-kingdom-of-vijayanagara/

Ans: (c )

Explanation:

• Statement 1: Land revenue was the chief source of income. Land was divided into four categories for purposes of assessment, wet land, dry land, orchards and woods. Usually the share was one sixth of the produce. Land revenue could be paid in cash or kind. The rates varied according to the type of the crops, soil, method of irrigation, etc. So, 1 is clearly correct.
• Statement 2: Besides land tax, many professional taxes were also imposed. There were on shopkeepers, farm servants, workmen, posters, shoemakers, musicians etc. There was also a tax on property. Grazing and house taxes were also imposed. Commercial taxes consisted of levies, duties and customs on manufactured articles of trade were also levied. Private owners of workshops paid an industries tax, which means 2 is correct.
• Source: UB Singh – Administrative System in India: Vedic Age to 1947 http://tinyurl.com/js458vk

Refer: https://www.insightsonindia.com/2023/02/09/victory-city-a-brief-history-of-the-kingdom-of-vijayanagara/

Ans: (d)

Explanation:

Refer: https://www.insightsonindia.com/2023/02/09/50-years-of-bilateral-ties-india-qatar-and-india-south-korea/

Ans: (a )

Explanation:

• Repo Rate: The interest rate at which the Reserve Bank provides overnight liquidity to banks against the collateral of government and other approved securities under the liquidity adjustment facility (LAF).
• Reverse Repo Rate: The interest rate at which the Reserve Bank absorbs liquidity, on an overnight basis, from banks against the collateral of eligible government securities under the LAF.
• Liquidity Adjustment Facility (LAF): The LAF consists of overnight as well as term repo auctions. Progressively, the Reserve Bank has increased the proportion of liquidity injected under fine-tuning variable rate repo auctions of range of tenors. The aim of term repo is to help develop the inter-bank term money market, which in turn can set market based benchmarks for pricing of loans and deposits, and hence improve transmission of monetary policy. The Reserve Bank also conducts variable interest rate reverse repo auctions, as necessitated under the market conditions.

Refer: https://www.insightsonindia.com/2023/02/09/rbi-hikes-repo-rate-by-25-bps-to-6-5-what-impact-will-this-have/

Ans: (c )

Explanation:

• Market Stabilisation Scheme (MSS): This instrument for monetary management was introduced in 2004. Surplus liquidity of a more enduring nature arising from large capital inflows is absorbed through sale of short-dated government securities and treasury bills. The cash so mobilised is held in a separate government account with the Reserve Bank.
• Open Market Operations (OMOs): These include both, outright purchase and sale of government securities, for injection and absorption of durable liquidity, respectively.
• Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow additional amounts of overnight money from the Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR) portfolio up to a limit at a penal rate of interest. This provides a safety valve against unanticipated liquidity shocks to the banking system.

Refer: https://www.insightsonindia.com/2023/02/09/rbi-hikes-repo-rate-by-25-bps-to-6-5-what-impact-will-this-have/

Ans: (a)

Explanation:

• The Nordic countries include the sovereign states of Denmark, Finland, Iceland, Norway and Sweden.

Refer: https://www.insightsonindia.com/2023/02/09/a-nordic-india-connection-to-power-a-green-transition/

Ans: (a)

Explanation:

• What is strategic disinvestment or strategic sale?
• When the government decides to transfer the ownership and control of a public sector entity to some other entity, either private or public, the process is called strategic disinvestment.
• What is the difference between strategic disinvestment/sale and disinvestment
• Selling minority shares of Public Enterprises, to another entity be it public or private is disinvestment. In this the government retains ownership of the enterprise. On the other hand, when the government sells majority shares in an enterprise, that is strategic disinvestment/sale. Here, the government gives up the ownership of the entity as well.

Refer: facts for prelims: https://www.insightsonindia.com/2023/02/09/mission-2023-insights-daily-current-affairs-pib-summary-9-february-2023/

Ans: (a)

Explanation: What is the QCVM?

• It is a cashless coin dispenser that dispenses coins in exchange for a bank account debit via the Unified Payments Interface (UPI).
• Unlike traditional cash-based Coin Vending Machines, the QCVM would not require banknote tendering or validation.
• This will offer ease and ready access to coins for customers via the UPI facility.

Refer: facts for prelims: https://www.insightsonindia.com/2023/02/09/mission-2023-insights-daily-current-affairs-pib-summary-9-february-2023/

Ans: (d)

Explanation:

• Rani Jhansi Marine National Park is located in the Andaman and Nicobar Islands in the Bay of Bengal.
• Context: The ongoing fifth International MPA Congress discusses solutions to address funding gaps that marine protected areas (MPA) are facing.
• Background:
  • Nations agreed to protect 30% of the planet’s lands and oceans by 2030 at the COP15 to the CBD held in 2022.
  • 70% of MPAs are underfunded.
  • Most current MPAs are located in coastal areas, while only 2% of the high seas are protected.
• MPAs in India:
  • They are regarded as one of the most potent conservation tools for the protection of marine habitats and their resources.
  • Climate-smart MPAs can shield biota from global warming.
  • There are a total of 31 major MPAs in India (as of Feb 2022) covering coastal areas that have been notified under Wildlife Protection Act, 1972.

Refer: facts for prelims: https://www.insightsonindia.com/2023/02/09/mission-2023-insights-daily-current-affairs-pib-summary-9-february-2023/