[MISSION 2023] RTM(Revision through MCQs)- 4 Apr 2023

Ans: (b)

Explanation:

• The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, 1934.
• The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth.
• In May 2016, the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework.
• The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years.
• RBI primarily factors in retail inflation while making its bi-monthly monetary policy.

Refer: https://www.insightsonindia.com/2023/04/04/monetary-policys-impact-on-inequality/

Ans: (d)

Explanation:

• The headline inflation figure includes inflation in a basket of goods that includes commodities like food and energy. It is different from core inflation, which excludes food and energy prices while calculating inflation. Food and energy are not included in core inflation because their prices are volatile.
• S2:Reserve Bank of India (RBI) uses CPI-combined as the sole inflation measure for the purpose of monetary policy.
  • https://rbi.org.in/scripts/BS_ViewBulletin.aspx?Id=20869
• S3: Consumer Price Index Numbers for Industrial workers measure a change over time in prices of a fixed basket of goods and services consumed by Industrial Workers
  • https://lbadgcms.companydemo.in/cpi-iw#:~:text=These%20indices%20measures%20the%20relative,over%20a%20period%20of%20time.

Refer: https://www.insightsonindia.com/2023/04/04/monetary-policys-impact-on-inequality/

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/2023/04/04/monetary-policys-impact-on-inequality/

Ans: (d)

Explanation:

• The International Seabed Authority (ISA) is an autonomous international organization established under the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the 1994 Agreement relating to the Implementation of Part XI of the United Nations Convention on the Law of the Sea (1994 Agreement).
• ISA is the organization through which States Parties to UNCLOS organize and control all mineral-resources-related activities in the Area for the benefit of mankind as a whole. In so doing, ISA has the mandate to ensure the effective protection of the marine environment from harmful effects that may arise from deep-seabed related activities.
• The Area and its resources are the common heritage of mankind. The Area covers around 54 per cent of the total area of the world’s oceans.

Refer: https://www.insightsonindia.com/2023/04/04/un-to-allow-deep-sea-mining-issues-and-concerns/

Ans: (c )

Explanation:

• Project Tiger was launched by the Indira Gandhi government in 1973 from the Jim Corbett National Park in Uttarakhand.
• Every 4 years the National Tiger Conservation Authority (NTCA) conducts a tiger census across India.

Refer: https://www.insightsonindia.com/2023/04/04/india-celebrates-50-successful-years-of-project-tiger/

Ans: (d)

Explanation:

• The National Tiger Conservation Authority is a statutory body under the Ministry of Environment, Forests and Climate Change.
• It was constituted under enabling provisions of the Wildlife (Protection) Act, 1972, as amended in 2006, for strengthening tiger conservation.
• Set up under the Chairmanship of the Minister for Environment and Forests. The Authority will have eight experts or professionals having qualifications and experience in wildlife conservation and welfare of people including tribals, apart from three Members of Parliament of whom two will be elected by the House of the People and one by the Council of States.
• Functions of NTCA are as follows:
  • Ensuring normative standards in tiger reserve management.
  • Preparation of reserve specific tiger conservation plan.
  • Laying down annual/ audit report before Parliament.
  • Instituting State level Steering Committees under the Chairmanship of Chief Minister and establishment of Tiger Conservation Foundation.
  • According approval for declaring new Tiger Reserves.

Refer: https://www.insightsonindia.com/2023/04/04/india-celebrates-50-successful-years-of-project-tiger/

Ans: (b)

Explanation:

Refer: facts for prelims: https://www.insightsonindia.com/2023/04/04/mission-2023-insights-daily-current-affairs-pib-summary-4-april-2023/

Ans: (a)

Explanation:

• The phenomenon of gravitational lensing occurs when a huge amount of matter, such as a massive galaxy, cluster of galaxies or a black hole, creates a gravitational field that distorts and magnifies the light from objects behind it.
• Gravitational lensing is based on Einstein’s theory of general relativity (Mass bend light).
• Normal lenses such as the ones in a magnifying glass work by bending light rays that pass through them in a process known as refraction, in order to focus the light somewhere else.
• Similarly, the gravitational field of a massive object causes light rays passing close to that object to be bent and refocused somewhere else.
• The more massive the object, the stronger its gravitational field and hence the greater the bending of light rays – just like using denser materials to make optical lenses results in a greater amount of refraction.
• In effect, gravitational lenses act like natural cosmic telescopes.

Refer: facts for prelims: https://www.insightsonindia.com/2023/04/04/mission-2023-insights-daily-current-affairs-pib-summary-4-april-2023/

Ans: (b)

Explanation:

• Context: The Air Forces of India and the U.S. are set to conduct the Cope India exercise at the Kalaikunda airbase in West Bengal, with Japan as an observer.
• The Indian Air Force (IAF) is set to field its frontline fighters SU-30MKI, Rafale and the indigenous Light Combat Aircraft along with force multipliers, while the U.S. Air Force is expected to bring in F-15 fighter jets.
  • Army YUDHABHAYAS & VAJRA PRAHAR
  • Navy MALABAR (Multilateral – Japan joined in 2015 and Australia in 2020)
  • Air Force RED FLAG 16-1
• “Garuda ” is a joint military exercise of India and France.

Refer: facts for prelims: https://www.insightsonindia.com/2023/04/04/mission-2023-insights-daily-current-affairs-pib-summary-4-april-2023/

Ans: (c )

Explanation:

• He was the founder of Vijayanagar Empire.
• His initial military exploits established his control over the valley of Tungabhadra River (a tributary of Krishna), and gradually he expanded his control to certain regions of Konkan and Malabar Coast. By that time Hoysalas had lost its last ruler Veera Ballala III who died fighting the Sultan of Madurai, and the vacuum so created facilitated Harihara I to emerge as a sovereign power. The entire Hoysala territories came under his rule directly.
• Source: https://en.wikipedia.org/wiki/Harihara_I

Refer: UPSC CSE 2015