[Mission 2024] QUED ( Questions from Editorials ) 20 September 2023

Solution: b)

Statement 1 is incorrect.

Reserve Bank of India (RBI) Governor has asked fintech entities to form a Self-Regulatory Organisation (SRO). An SRO can help in establishing codes of conduct for its members that foster transparency, fair competition, and consumer protection. It can act as a watchdog and encourage members to adopt responsible and ethical practices. It can provide a link between the regulator and market participants through a less formal set-up.

What is an SRO?

An SRO is a non-governmental organisation that sets and enforces rules and standards relating to the conduct of entities in the industry (members) with the aim of protecting the customer and promoting ethics, equality, and professionalism. SROs typically collaborate with all stakeholders in framing rules and regulations.

Their self-regulatory processes are administered through impartial mechanisms such that members operate in a disciplined environment and accept penal actions by the SRO. An SRO is expected to address concerns beyond the narrow self-interests of the industry, such as to protect workers, customers or other participants in the ecosystem.

Source

Solution: c)

Built by King Narasimhadeva-I, the ruler of the Ganga dynasty, the Sun Temple is a symbol of Odisha’s glorious heritage. Around 1,200 artisans and craftsmen took around 12 years to develop artistic magnificence and engineering dexterity using chlorite and sandstone on the shores of the Bay of Bengal at Konark.

Since the ruler used to worship the sun, the temple was considered a chariot for the Sun God. Designed in the form of a chariot mounted on 24 wheels, each of them is about 10 feet in diameter and drawn by seven mighty horses. The images of animals, foliage, dancing women and other structures carved around the temple’s base showcase the architectural grandeur.

While the main temple which enshrined the presiding deity and the Natya Mandap has fallen off and only the remains can be seen, the large structure seen at present is known as the Jagamohana (the assembly hall or audience hall or Mukhasala).

From 1900 to 1903, four entrances to the Jagamohana were sealed and filled with sand by the Britishers to provide structural stability to the monument.

Source

Solution: c)

A surety bond is provided by the insurance company on behalf of the contractor to the entity, which is awarding the project. When a principal breaks a bond’s terms, the harmed party can make a claim on the bond to recover losses.

Aimed at supporting the implementation of large-scale project finance, particularly in the area of road projects of National Highway Authority of India (NHAI).

Unlike a bank guarantee, the Surety Bond Insurance does not require large collateral from the contractor thus freeing up significant funds for the contractor, which they can utilize for the growth of the business.

Source

Solution: b)

Nitrous oxide emissions occur naturally through many sources associated with the nitrogen cycle, which is the natural circulation of nitrogen among the atmosphere, plants, animals, and microorganisms that live in soil and water.

Nitrous oxide is actually removed from the atmosphere when it is absorbed by certain types of bacteria or destroyed by ultraviolet radiation or chemical reactions.

A natural source of nitrogen oxides occurs from a lightning stroke. The very high temperature in the vicinity of a lightning bolt causes the gases oxygen and nitrogen in the air to react to form nitric oxide. The nitric oxide very quickly reacts with more oxygen to form nitrogen dioxide.

Solution: b)

Statement 3 is incorrect.

The iconic Mughal Gardens at the Rashtrapati Bhavan (President’s House) in Delhi have been renamed. “The collective identity of all the gardens at Rashtrapati Bhavan will be ‘Amrit Udyan’.

Afghanistan, Bangladesh, India, and Pakistan have a number of Mughal gardens.

The Mughals were known to appreciate gardens. In Babur Nama, Babur says that his favourite kind of garden is the Persian charbagh style (literally, four gardens). The charbagh structure was intended to create a representation of an earthly utopia – jannat – in which humans co-exist in perfect harmony with all elements of nature.

Defined by its rectilinear layouts, divided in four equal sections, these gardens can be found across lands previously ruled by the Mughals. From the gardens surrounding Humanyun’s Tomb in Delhi to the Nishat Bagh in Srinagar, all are built in this style – giving them the moniker of Mughal Gardens.

A defining feature of these gardens is the use of waterways, often to demarcate the various quadrants of the garden.