[Mission 2024] Current Affairs Quiz , 15 July 2023

Solution: c)

The Large Area Soft X-Ray Spectrometer (CLASS), which measures the Moon’s X-ray spectrum to examine the presence of major elements such as magnesium, aluminium, silicon, calcium, titanium, iron, etc., found the minor elements chromium and manganese for the first time through remote sensing.

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Solution: a)

Only statement 1 is correct.

Peatland, which is a type of wetland, forms over thousands of years from the remains of dead plants, storing more carbon than any other ecosystem.

Globally, peatlands take up some 3% of the planet’s land area — and yet, they absorb nearly twice as much carbon dioxide as all the Earth’s forests combined. But when damp peatlands are drained and used for other purposes, like agriculture or fertilizer, they go from being a CO2 sink to yet another potent source of greenhouse gas.

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Solution: b)

The national day of France is celebrated on July 14, also known as Bastille Day and is marked by a long military parade.

Bastille Day can be said to have set in motion the decade-long French Revolution, which fundamentally altered French political and social life and influenced the foundational ideas of democracy across the world.

Source

Solution: a)

Only statement 1 is correct.

The rupee’s exchange rate vis-a-vis a particular currency, say the US dollar, tells us how many rupees are required to buy a US dollar. To buy (import) a US product or service, Indians need to first buy the dollars and then use those dollars to buy the product. The same holds true for Americans buying something from India.

If the rupee’s exchange rate “falls”, it implies that buying American goods would become costlier. At the same time, Indian exporters may benefit because their goods now are more attractive (read cheaper) to the American customers.

In a free-market economy, the exchange rate is decided by the supply and demand for rupees and dollars.

In India, the exchange rate is not fully determined by the market. From time to time, the RBI intervenes in the foreign exchange (forex) market to ensure that the rupee “price” does not fluctuate too much or that it doesn’t rise or fall too much all at once.

Solution: d)

The Directorate of Enforcement is a multi-disciplinary organization mandated with investigation of offence of money laundering and violations of foreign exchange laws. The statutory functions of the Directorate include enforcement of following Acts:

1. The Prevention of Money Laundering Act, 2002 (PMLA):It is a criminal law enacted to prevent money laundering and to provide for confiscation of property derived from, or involved in, money-laundering and for matters connected therewith or incidental thereto.
2. The Foreign Exchange Management Act, 1999 (FEMA): ED has been given the responsibility to conduct investigation into suspected contraventions of foreign exchange laws and regulations, to adjudicate and impose penalties on those adjudged to have contravened the law.
3. The Fugitive Economic Offenders Act, 2018 (FEOA): It is a law whereby Directorate is mandated to attach the properties of the fugitive economic offenders who have escaped from the India warranting arrest and provide for the confiscation of their properties to the Central Government.
4. Sponsoring agency under COFEPOSA:Under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), this Directorate is empowered to sponsor cases of preventive detention with regard to contraventions of FEMA.