[Mission 2024] Current Affairs Quiz , 31 October 2023

Solution: b)

Statement 3 is incorrect.

What is Money Market?

While the G-Secs market generally caters to the investors with a long-term investment horizon, the money market provides investment avenues of short-term tenor. Money market transactions are generally used for funding the transactions in other markets including G-Secs market and meeting short term liquidity mismatches. By definition, money market is for a maximum tenor of one year. Within the one year, depending upon the tenors, money market is classified into:

• Overnight market – The tenor of transactions is one working day.
• Notice money market – The tenor of the transactions is from 2 days to 14 days.
• Term money market – The tenor of the transactions is from 15 days to one year.

What are the different money market instruments?

Money market instruments include call money, repos, T- Bills, Cash Management Bills, Commercial Paper, Certificate of Deposit and Collateralized Borrowing and Lending Obligations (CBLO).

Call money market:

Call money market is a market for uncollateralized lending and borrowing of funds. This market is predominantly overnight and is open for participation to scheduled commercial banks and the primary dealers.

Solution: b)

Statement 2 is incorrect.

The International Court of Justice is the principal judicial organ of the United Nations. Its seat is at the Peace Palace in the Hague (Netherlands). It is the only one of the six principal organs of the United Nations not located in New York (United States of America). The Court’s role is to settle, in accordance with international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies. The International Court of Justice functions in accordance with its Statute.

The Court is composed of 15 judges, who are elected for terms of office of nine years by the United Nations General Assembly and the Security Council.

In order to ensure a measure of continuity, one third of the Court is elected every three years.

Solution: c)

Article 29: Protection of interests of minorities

(1) Any section of the citizens residing in the territory of India or any part thereof having a distinct language, script or culture of its own shall have the right to conserve the same

(2) No citizen shall be denied admission into any educational institution maintained by the State or receiving aid out of State funds on grounds only of religion, race, caste, language or any of them.

Solution: a)

Only Statement 2 is correct.

Ukraine is bordered by Russia to the east and northeast, Belarus to the northwest, Poland and Slovakia to the west, Hungary, Romania, and Moldova to the southwest, and the Black Sea and Sea of Azov to the south and southeast, respectively.

Strait of Gibraltar is a narrow strait that connects the Atlantic Ocean to the Mediterranean Sea and separates Gibraltar and Peninsular Spain in Europe from Morocco and Ceuta (Spain) in Africa. It is far away from Ukraine.

Solution: c)

The international Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States;

Originating from an ad hoc gathering of finance ministers in 1973, the G7 has since become a formal, high-profile venue for discussing and coordinating solutions to major global issues, especially in the areas of trade, security, economics, and climate change.