[Mission 2024] QUED ( Questions from Editorials ) 18 July 2023

Solution: d)

The joint statement — ‘Horizon 2047: 25th Anniversary of the India-France Strategic Partnership, Towards A Century of India-France Relations’ — lays out a roadmap for the bilateral relationship till 2047.

Source

Solution: a)

Only statement 2 is correct.

Inflation:

• Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.
• Inflation measures the average price change in a basket of commodities and services over time.
• The opposite and rare fall in the price index of this basket of items is called ‘deflation’.
• Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency.
• RBI through its Monetary Policy Committee (MPC) Controls Money supply in the market.
• Inflation is measured by a central government authority, which is in charge of adopting measures to ensure the smooth running of the economy. In India, the Ministry of Statistics and Programme Implementation measures inflation.
• Inflation is primarily measured by two main indices — WPI (Wholesale Price Index) and CPI (Consumer Price Index), which measure wholesale and retail-level price changes, respectively.

Solution: b)

A vostro account is an essential part of correspondent banking in which a foreign bank acts as an agent providing financial services on behalf of a domestic bank.

Vostro accounts enable domestic banks to provide international banking services to their clients who have global banking needs.

Vostro account services include executing wire transfers, performing foreign exchange transactions, enabling deposits and withdrawals, and expediting international trade.

Solution: c)

The Committee on Capital Account Convertibility (CAC) or Tarapore Committee was constituted by the Reserve Bank of India for suggesting a roadmap on full convertibility of Rupee on Capital Account.

Source

Solution: a)

Only statement 1 is correct.

“Phytoremediation”, a remediation method that uses living organisms like plants, microalgae, and seaweeds. One particular way to remove toxic heavy metals from the soil includes the use of “hyperaccumulator” plants that absorb these substances from the soil.

Phytoremediation refers to the usage of “hyperaccumulator” plants to absorb the toxic materials present in the soil and accumulate in their living tissue. Even though most plants do sometimes accumulate toxic substances, hyperaccumulators have the unusual ability to absorb hundreds or thousands of times greater amounts of these substances than is normal for most plants.

This process can be used to remove metals like silver, cadmium, cobalt, chromium, copper, mercury, manganese, molybdenum, nickel, lead and zinc; metalloids such as arsenic and selenium; some radionuclides; and non-metallic components such as boron. But it cannot be used to remove organic pollutants from the ground due to metabolic breakdown.