Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
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.
To view Solutions, follow these instructions:
-
Click on – ‘Start Quiz’ button
-
Solve Questions
-
Click on ‘Quiz Summary’ button
-
Click on ‘Finish Quiz’ button
-
Now click on ‘View Questions’ button – here you will see solutions and links.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
| Average score |
|
| Your score |
|
Categories
- Not categorized 0%
-
New Initiative: Revision Through MCQs (RTM) – Revision of Current Affairs Made Interesting
As revision is the key to success in this exam, we are starting a new initiative where you will revise current affairs effectively through MCQs (RTM) that are solely based on Insights Daily Current Affairs.
These questions will be different than our regular current affairs quiz. These questions are framed to TEST how well you have read and revised Insights Current Affairs on daily basis.
We will post nearly 10 MCQs every day which are based on previous day’s Insights current affairs. Tonight we will be posting RTM questions on the Insights current affairs of October 3, 2019.
The added advantage of this initiative is it will help you solve at least 20 MCQs daily (5 Static + 5 CA Quiz + 10 RTM) – thereby helping you improve your retention as well as elimination and guessing skills.
| Pos. | Name | Entered on | Points | Result |
|---|---|---|---|---|
| Table is loading | ||||
| No data available | ||||
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
1 pointsConsider the following statements:
-
- The McMahon Line serves as the de facto boundary between China and India in the Eastern Sector.
- The McMahon Line was drawn during the Simla Convention of 1914, officially described as the Convention Between Great Britain, China, Burma and Nepal.
Which of the statements given above is/are correct?
Correct
Ans: (a)
Explanation:
- What is the McMahon Line?
- The McMahon Line serves as the de facto boundary between China and India in the Eastern Sector. It specifically represents the boundary between Arunachal Pradesh and Tibet, from Bhutan in the west to Myanmar in the east.
- China has historically disputed the boundary and claims the state of Arunachal Pradesh as part of the Tibetan Autonomous Region (TAR).
- Under what circumstances was it drawn?
- The McMahon Line was drawn during the Simla Convention of 1914, officially described as the Convention Between Great Britain, China, and Tibet. China was represented at the convention by the government of the Republic of China, which was in power in the mainland from 1912 to 1949, when its leaders were driven to the island of Taiwan during the civil war that established the communists in Beijing and led to the proclamation of the People’s Republic.
Incorrect
Ans: (a)
Explanation:
- What is the McMahon Line?
- The McMahon Line serves as the de facto boundary between China and India in the Eastern Sector. It specifically represents the boundary between Arunachal Pradesh and Tibet, from Bhutan in the west to Myanmar in the east.
- China has historically disputed the boundary and claims the state of Arunachal Pradesh as part of the Tibetan Autonomous Region (TAR).
- Under what circumstances was it drawn?
- The McMahon Line was drawn during the Simla Convention of 1914, officially described as the Convention Between Great Britain, China, and Tibet. China was represented at the convention by the government of the Republic of China, which was in power in the mainland from 1912 to 1949, when its leaders were driven to the island of Taiwan during the civil war that established the communists in Beijing and led to the proclamation of the People’s Republic.
-
-
Question 2 of 10
2. Question
1 pointsArrange the following locations in the direction of West to East:
-
- Namkha
- Asaphila
- Dibang Valley
Select the correct answer using the code below:
Correct
Ans: (a)
Explanation:
Incorrect
Ans: (a)
Explanation:
-
-
Question 3 of 10
3. Question
1 pointsConsider the following statements regarding Federal Funds Rate (FFR).
-
- The FFR is the interest rate at which commercial banks in the US borrow from each other overnight.
- Like in India, where the RBI decides the repo rate, the Federal Reserve directly specifies the Federal Funds Rate.
- When the Federal Reserve wants to raise the prevailing interest rates in the US economy, it reduces the money supply.
Which of the above statements is/are correct?
Correct
Ans: (b)
Explanation:
- What is the Federal Funds Rate (FFR) and how does the US Fed tweak it?
- The FFR is the interest rate at which commercial banks in the US borrow from each other overnight. Arguably, if banks borrow at higher rates from each other, they will also lend the money to consumers at a higher rate.
- Now, unlike in India, where the RBI decides what the repo rate (or the interest rate at which RBI lends money to banks) will be, in the US, the Fed can’t directly specify the FFR. Instead, it tries to “target” the FFR by controlling the money supply. So when the Fed wants to raise the prevailing interest rates in the US economy, it reduces the money supply. This forces every bank in the economy to charge higher interest rates. The process starts with commercial banks charging higher interest rates to lend to each other for overnight loans.
Incorrect
Ans: (b)
Explanation:
- What is the Federal Funds Rate (FFR) and how does the US Fed tweak it?
- The FFR is the interest rate at which commercial banks in the US borrow from each other overnight. Arguably, if banks borrow at higher rates from each other, they will also lend the money to consumers at a higher rate.
- Now, unlike in India, where the RBI decides what the repo rate (or the interest rate at which RBI lends money to banks) will be, in the US, the Fed can’t directly specify the FFR. Instead, it tries to “target” the FFR by controlling the money supply. So when the Fed wants to raise the prevailing interest rates in the US economy, it reduces the money supply. This forces every bank in the economy to charge higher interest rates. The process starts with commercial banks charging higher interest rates to lend to each other for overnight loans.
-
-
Question 4 of 10
4. Question
1 pointsConsider the following statements.
-
- The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation.
- Bank for International Settlements (BIS) serves as a bank for central banks.
- The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).
Which of the above statements is/are correct?
Correct
Ans: (d)
Explanation:
- The Bank for International Settlements (BIS) is an international financial institution owned by central banks that “fosters international monetary and financial cooperation and serves as a bank for central banks”.
- The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. The committee expanded its membership in 2009 and then again in 2014. In 2019, the BCBS has 45 members from 28 Jurisdictions, consisting of Central Banks and authorities with responsibility of banking regulation. The Committee’s Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland.
Incorrect
Ans: (d)
Explanation:
- The Bank for International Settlements (BIS) is an international financial institution owned by central banks that “fosters international monetary and financial cooperation and serves as a bank for central banks”.
- The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. The committee expanded its membership in 2009 and then again in 2014. In 2019, the BCBS has 45 members from 28 Jurisdictions, consisting of Central Banks and authorities with responsibility of banking regulation. The Committee’s Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland.
-
-
Question 5 of 10
5. Question
1 pointsConsider the following statements:
-
- Bhumchu is a Buddhist festival.
- The festival is centered around the opening of a vessel containing holy water, which is believed to be an indicator of the fortunes of the coming year.
Which of the statements given above is/are correct?
Correct
Ans: (c )
Explanation:
- It is held annually at Tashiding Monastery in West Sikkim on the 15th day of the first month of the Lunar calendar (usually in February or March)
- Name: Bumchu means “pot of sacred water” in Tibetan
- Features: The festival is centred around the opening of a vessel containing holy water, which is believed to be an indicator of the fortunes of the coming year.
- History: It commemorates a supernatural occurrence that took place under Chogyal Chakdor Namgya (in the 18th century)
- The festival attracts devotees from all over Sikkim and neighbouring countries such as Bhutan and Nepal.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (c )
Explanation:
- It is held annually at Tashiding Monastery in West Sikkim on the 15th day of the first month of the Lunar calendar (usually in February or March)
- Name: Bumchu means “pot of sacred water” in Tibetan
- Features: The festival is centred around the opening of a vessel containing holy water, which is believed to be an indicator of the fortunes of the coming year.
- History: It commemorates a supernatural occurrence that took place under Chogyal Chakdor Namgya (in the 18th century)
- The festival attracts devotees from all over Sikkim and neighbouring countries such as Bhutan and Nepal.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
-
-
Question 6 of 10
6. Question
1 pointsConsider the following statements about Bar Council of India:
-
- It is a statutory body
- It regulates legal practice and legal education in India.
- Its members are elected from amongst the lawyers in India.
Which of the statements given above is/are correct?
Correct
Ans: (d)
Explanation:
- The Bar Council of India (est. 1961; HQ: New Delhi) is a statutory body established under section 4 of the Advocates Act 1961 that regulates legal practice and legal education in India. Its members are elected from amongst the lawyers in India and as such represents the Indian bar.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (d)
Explanation:
- The Bar Council of India (est. 1961; HQ: New Delhi) is a statutory body established under section 4 of the Advocates Act 1961 that regulates legal practice and legal education in India. Its members are elected from amongst the lawyers in India and as such represents the Indian bar.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
-
-
Question 7 of 10
7. Question
1 pointsConsider the following statements regarding the Special Vostro Rupee Accounts (SVRAs):
-
- SVRA is an account that domestic banks hold for foreign banks in the former’s domestic currency.
- RBI allows trade settlement in Rupee through SVRA.
Which of the statements given above is/are correct?
Correct
Ans: (c)
Explanation: What is SVRA?
- SVRA is an account that domestic banks hold for foreign banks in the former’s domestic currency, the rupee, which allows domestic banks to provide international banking services to their clients who have global banking needs without having to be physically present abroad.
- RBI had issued a framework for Trade settlement in Ruppe (in July 2022) through SVRA
- Other initiatives for the Internationalization of Ruppee are: Cross border trading in Ruppe (e.g. Masal Bond); Currency swap agreements
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (c)
Explanation: What is SVRA?
- SVRA is an account that domestic banks hold for foreign banks in the former’s domestic currency, the rupee, which allows domestic banks to provide international banking services to their clients who have global banking needs without having to be physically present abroad.
- RBI had issued a framework for Trade settlement in Ruppe (in July 2022) through SVRA
- Other initiatives for the Internationalization of Ruppee are: Cross border trading in Ruppe (e.g. Masal Bond); Currency swap agreements
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
-
-
Question 8 of 10
8. Question
1 points‘Net metering’ is sometimes seen in the news in the context of promoting the
Correct
Ans: (a)
Explanation:
- Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid, if you generate more energy (from household solar rooftops) than you consume at home.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (a)
Explanation:
- Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid, if you generate more energy (from household solar rooftops) than you consume at home.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
-
Question 9 of 10
9. Question
1 pointsConsider the following statements about About the INDIAai (The National AI Portal of India) platform:
-
- It is a joint venture between the Ministry of Electronics and Information Technology and NITI Aayog.
- It will help in boosting research and facilitate tools required for the growth of the start-up community.
Which of the statements given above is/are correct?
Correct
Ans: (b)
Explanation: INDIAai (The National AI Portal of India) platform:
- Aim: It will help in boosting research and facilitate tools required for the growth of the start-up community.
- Implementation: It is a joint venture by MEITY, NEGD and NASSCOM
- Potential: AI is expected to add USD 967 billion to the Indian economy by 2035
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (b)
Explanation: INDIAai (The National AI Portal of India) platform:
- Aim: It will help in boosting research and facilitate tools required for the growth of the start-up community.
- Implementation: It is a joint venture by MEITY, NEGD and NASSCOM
- Potential: AI is expected to add USD 967 billion to the Indian economy by 2035
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
-
-
Question 10 of 10
10. Question
1 pointsWhich one of the following sectors is mainly targeted through the PM MITRA scheme?
Correct
Ans: (b)
Explanation: About “PM-MITRA” Scheme:
- The scheme aims to realize the vision of building an Aatmanirbhar Bharatby positioning India strongly on the Global textiles map.
- The PM MITRA parks will provide the best ecosystem for the textile industry to be collectively present in one location, with plug-and-play infrastructure, and improve the competitiveness of the textile value chain.
- It will also give a boost to the five F (farm, fibre, factory, fashion, foreign) vision of the Prime Minister.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Incorrect
Ans: (b)
Explanation: About “PM-MITRA” Scheme:
- The scheme aims to realize the vision of building an Aatmanirbhar Bharatby positioning India strongly on the Global textiles map.
- The PM MITRA parks will provide the best ecosystem for the textile industry to be collectively present in one location, with plug-and-play infrastructure, and improve the competitiveness of the textile value chain.
- It will also give a boost to the five F (farm, fibre, factory, fashion, foreign) vision of the Prime Minister.
Refer: facts for prelims: https://www.insightsonindia.com/2023/03/16/mission-2023-insights-daily-current-affairs-pib-summary-16-march-2023/
Follow us on our Official TELEGRAM Channel HERE
Subscribe to Our Official YouTube Channel HERE
Please subscribe to Our podcast channel HERE
Official Facebook Page HERE
Follow our Twitter Account HERE
Follow our Instagram Account HERE
Follow us on LinkedIn: HERE
