UPSC Current Affairs Quiz : 09 July 2024

Ans: (d)

Explanation:

• Context: July 4 marked the 248th Independence Day of the United States. It was the day when the Declaration of Independence, the document which marked the foundation of the US as a union of states liberated from Britain, was signed.
• The Boston Tea Party, which took place on December 16, 1773, was a political protest by the American colonists against the British government. The event was a response to the Tea Act imposed by the British Parliament, which granted the British East India Company a monopoly on tea sales in the American colonies and allowed it to sell tea at a lower price than that of colonial merchants. The colonists viewed this as another example of taxation without representation, as they had no representatives in the British Parliament to voice their concerns or oppose the tax. In protest, a group of colonists disguised as Native Americans boarded three British ships and dumped 342 chests of tea into Boston Harbor. This event was a significant act of defiance against British authority and contributed to the growing tensions that eventually led to the American Revolution.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (a)

Explanation:

• S1 is Correct. A surplus in the BOP means the country has more receipts from foreign transactions than payments made to foreign entities.
• S2 is Incorrect. The BOP must theoretically balance, but this doesn’t mean the sum of the Current Account and the Capital Account is zero in practical terms. Discrepancies often arise due to errors and omissions. The balance includes the Current Account, the Capital Account, and changes in official reserves to account for discrepancies.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (d)

Explanation:

• The Capital Account in the Balance of Payments records all transactions related to the acquisition and disposal of financial assets and liabilities between a country and the rest of the world.
  • Foreign Direct Investment (FDI): This involves investment from one country into another, where the investor gains a lasting interest in the enterprise. FDI is a key component of the Capital Account.
  • Portfolio Investment: These are investments in financial assets such as stocks and bonds in a foreign country. Unlike FDI, portfolio investments do not offer control over the business entity but still form part of the Capital Account.
  • External Commercial Borrowings (ECBs): These are loans availed by a country’s residents from non-resident lenders. ECBs are recorded in the Capital Account as they represent cross-border borrowing.
• Grants and Aids: These are transfers given by one country to another without any requirement of repayment. They are not considered part of the Capital Account; instead, they fall under the Current Account or the Financial Account depending on the nature of the transfer.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (c)

Explanation:

• S1 is correct. The PAD system is part of India’s efforts to develop a robust missile defense shield.
• S2 is correct. PAD had a successful first test where it intercepted a target missile, demonstrating its capabilities.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (b)

Explanation:

• Context: Thazhakara, a gram panchayat in Alappuzha and one of the first in Kerala, has created and published a People’s Biodiversity Register (PBR), involving local communities.
• About PBR:
  • The People’s Biodiversity Register serves as a comprehensive record of locally available Bio-resources including the landscape and demography of a particular area or village. It is prepared by Biodiversity Management Committees (under Biodiversity Act 2002) in consultation with local communities.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (a)

Explanation:

• “Biodiversity Heritage Sites” (BHS) are well defined areas that are unique, ecologically fragile ecosystems – terrestrial, coastal and inland waters and, marine having rich biodiversity comprising of any one or more of the following components: richness of wild as well as domesticated species or intra-specific categories, high endemism, presence of rare and threatened species, keystone species, species of evolutionary significance, wild ancestors of domestic/cultivated species or their varieties, past pre-eminence of biological components represented by fossil beds and having significant cultural, ethical or aesthetic values and are important for the maintenance of cultural diversity, with or without a long history of human association with them.
• Under Section 37 of Biological Diversity Act, 2002 (BDA) the State Government in consultation with local bodies may notify in the official gazette, areas of biodiversity importance as Biodiversity Heritage Sites (BHS).
• Once the BHS is notified by the State Government, the NBA may support the initial establishment of BHS financially by allocating adequate funding support as seed money through State Biodiversity Boards (SBB). Simultaneously, the financial requirement of BHS may be included in the annual budget of the local body(ies). The State Government may also allocate adequate seed money to each BHS on its notification through SBB.
• Nallur Tamarind Grove in Bengaluru, Karnataka was the first Biodiversity Heritage Site of India, declared in 2007.
• Ameenpur Lake was the country’s first water body to be designated as a Biodiversity Heritage Site.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (b)

Explanation: What is Aphelion Point?

• Aphelion is when Earth is farthest from the Sun in its elliptical orbit, approximately 152 million kilometres away. This occurs annually in early July, contrasting with perihelion in early January when Earth is about 147 million kilometres close. Despite the 5 million kilometre difference, the tilt of Earth’s axis primarily determines seasons, with aphelion receiving about 7% less sunlight compared to perihelion.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (c)

Explanation:

• Aphelion occurs when the Earth is at the greatest distance from the Sun in its elliptical orbit. This typically happens around early July each year.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (a)

Explanation: What are Credit-Deposit (CD) ratios?

• The Credit-Deposit (CD) ratio is a financial metric that shows the percentage of a bank’s total deposits that are given out as loans. A higher CD ratio indicates that a larger portion of the bank’s deposits is being used for lending, which can impact liquidity and credit risk.
• The Reserve Bank of India (RBI) has directed banks to narrow the gap between credit and deposit growth, aiming to reduce the CD ratio. According to the RBI’s Financial Stability Report, the CD ratio has risen steadily, reaching 78.8% by December 2023. Over 75% of banks with CD ratios above 75% are private sector banks.

Refer:https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/

Ans: (b)

Explanation:

• S1 is correct. The liver is the largest gland and solid organ in the human body, playing a crucial role in various bodily functions.
• S2 is incorrect. Insulin is produced by the pancreas, not the liver. The liver, however, plays a role in regulating blood sugar by storing and releasing glucose.
• S3 is correct. One of the liver’s primary functions is detoxification, including breaking down and removing toxins from the bloodstream. It also synthesizes various proteins, including those necessary for blood clotting.

Refer: https://www.insightsonindia.com/2024/07/08/upsc-current-affairs-8-july-2024/