The Current Affairs Quiz 2024 is a daily quiz based on the DAILY CURRENT AFFAIRS AND PIB SUMMARY from the previous day, as posted on our website. It covers all relevant news sources and is designed to test your knowledge of current events. Solving these questions will help you retain both concepts and facts relevant to the UPSC IAS civil services exam.
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Question 1 of 10
1. Question
1 pointsWhich of the following steps can help to internationalize the rupee?
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- Tax incentives to foreign businesses to utilize the rupee in operations in India.
- RBI should pursue a more liquid rupee bond market.
- Indian exporters and importers should be encouraged to invoice their transactions in rupee.
- India signing Currency swap agreements with other countries.
How many of the above statements are correct?
Correct
Ans: (d)
Explanation:
- Many reforms can be pursued to internationalize the rupee. It must be made more freely convertible, with a goal of full convertibility by 2060 – letting financial investments move freely between India and abroad. This would allow foreign investors to easily buy and sell the rupee, enhancing its liquidity and making it more attractive. Additionally, the RBI should pursue a deeper and more liquid rupee bond market, enabling foreign investors and Indian trade partners to have more investment options in rupees, enabling its international use. Indian exporters and importers should be encouraged to invoice their transactions in rupee — optimising the trade settlement formalities for rupee import/export transactions would go a long way. Additional currency swap agreements (as with Sri Lanka) would further allow India to settle trade and investment transactions in rupees, without resorting to a reserve currency such as the dollar.
- Additionally, tax incentives to foreign businesses to utilise the rupee in operations in India would also help. The RBI and the Ministry of Finance must ensure currency management stability (consistent and predictable issuance/retrieval of notes and coins) and improve the exchange rate regime.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (d)
Explanation:
- Many reforms can be pursued to internationalize the rupee. It must be made more freely convertible, with a goal of full convertibility by 2060 – letting financial investments move freely between India and abroad. This would allow foreign investors to easily buy and sell the rupee, enhancing its liquidity and making it more attractive. Additionally, the RBI should pursue a deeper and more liquid rupee bond market, enabling foreign investors and Indian trade partners to have more investment options in rupees, enabling its international use. Indian exporters and importers should be encouraged to invoice their transactions in rupee — optimising the trade settlement formalities for rupee import/export transactions would go a long way. Additional currency swap agreements (as with Sri Lanka) would further allow India to settle trade and investment transactions in rupees, without resorting to a reserve currency such as the dollar.
- Additionally, tax incentives to foreign businesses to utilise the rupee in operations in India would also help. The RBI and the Ministry of Finance must ensure currency management stability (consistent and predictable issuance/retrieval of notes and coins) and improve the exchange rate regime.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 2 of 10
2. Question
1 pointsConsider the following statements:
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- Masala Bonds are rupee-denominated bonds issued in the international market.
- They are named ‘Masala’ to reflect the Indian culture and cuisine.
- The interest rates on Masala Bonds are generally lower compared to domestic bonds issued in India.
- The primary purpose of issuing Masala Bonds is to raise foreign capital while avoiding currency risk.
How many of the above statements are correct?
Correct
Ans: (c)
Explanation:
- S1 is Correct: Masala Bonds are indeed rupee-denominated bonds issued in the international market, allowing Indian entities to raise funds from foreign investors in Indian rupees.
- S2 is Correct: The term ‘Masala’ is used to reflect Indian culture and cuisine, aiming to make these bonds more appealing and identifiable as Indian financial instruments.
- S3 is Incorrect: The interest rates on Masala Bonds are not necessarily lower compared to domestic bonds. The interest rates depend on various factors including market conditions, credit ratings, and investor perceptions.
- S4 is Correct: The primary purpose of issuing Masala Bonds is to raise foreign capital while avoiding the risk of currency depreciation since the repayment is made in Indian rupees.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (c)
Explanation:
- S1 is Correct: Masala Bonds are indeed rupee-denominated bonds issued in the international market, allowing Indian entities to raise funds from foreign investors in Indian rupees.
- S2 is Correct: The term ‘Masala’ is used to reflect Indian culture and cuisine, aiming to make these bonds more appealing and identifiable as Indian financial instruments.
- S3 is Incorrect: The interest rates on Masala Bonds are not necessarily lower compared to domestic bonds. The interest rates depend on various factors including market conditions, credit ratings, and investor perceptions.
- S4 is Correct: The primary purpose of issuing Masala Bonds is to raise foreign capital while avoiding the risk of currency depreciation since the repayment is made in Indian rupees.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 3 of 10
3. Question
1 pointsWhich of the following is true about Article 341 of the Indian Constitution?
Correct
Ans: (b)
Explanation:
- Context: The Supreme Court ruled that states cannot modify the Schedule Caste (SC) list published under Article 341 of the Constitution.
- The court quashed a Bihar government notification from 2015 that classified the Tanti-Tantwa community as SC, reverting them back to the category of Extremely Backward Class. The court called the notification “mala fide” and emphasized that only Parliament has the authority to amend the SC list through legislation, not state governments.
- Article 341 of the Indian Constitution specifically deals with the identification and declaration of Scheduled Castes in India. It empowers the President to specify the castes, races, or tribes which shall be deemed to be Scheduled Castes in a particular state or union territory.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (b)
Explanation:
- Context: The Supreme Court ruled that states cannot modify the Schedule Caste (SC) list published under Article 341 of the Constitution.
- The court quashed a Bihar government notification from 2015 that classified the Tanti-Tantwa community as SC, reverting them back to the category of Extremely Backward Class. The court called the notification “mala fide” and emphasized that only Parliament has the authority to amend the SC list through legislation, not state governments.
- Article 341 of the Indian Constitution specifically deals with the identification and declaration of Scheduled Castes in India. It empowers the President to specify the castes, races, or tribes which shall be deemed to be Scheduled Castes in a particular state or union territory.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 4 of 10
4. Question
1 pointsWho has the authority to amend the list of Scheduled Castes under Article 341 of the Indian Constitution?
Correct
Ans: (b)
Explanation:
- Article 341 of the Indian Constitution empowers the President to specify castes, races, or tribes as Scheduled Castes (SC) for various states and union territories. This designation is made after consulting with the Governor of the concerned state.
- The list of Scheduled Castes is intended to provide special privileges and benefits to these communities to promote their social and educational advancement.
- Parliament holds the authority to amend this list by including or excluding groups through legislation, ensuring the criteria for inclusion are clearly defined and adhered to.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (b)
Explanation:
- Article 341 of the Indian Constitution empowers the President to specify castes, races, or tribes as Scheduled Castes (SC) for various states and union territories. This designation is made after consulting with the Governor of the concerned state.
- The list of Scheduled Castes is intended to provide special privileges and benefits to these communities to promote their social and educational advancement.
- Parliament holds the authority to amend this list by including or excluding groups through legislation, ensuring the criteria for inclusion are clearly defined and adhered to.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 5 of 10
5. Question
1 pointsUnder Article 341, what role does the President play in relation to Scheduled Castes?
Correct
Ans: (b)
Explanation:
- According to Article 341, the President has the authority to specify the castes, races, or tribes which shall be deemed to be Scheduled Castes in a particular state or union territory. This specification is done through a public notification.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (b)
Explanation:
- According to Article 341, the President has the authority to specify the castes, races, or tribes which shall be deemed to be Scheduled Castes in a particular state or union territory. This specification is done through a public notification.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 6 of 10
6. Question
1 pointsWhich of the following statements is correct regarding the modification of the Scheduled Castes list under Article 341?
Correct
Ans: (c)
Explanation:
- Once the President specifies the Scheduled Castes in a particular state or union territory, any further modification to this list can only be done by the Parliament through legislation. This ensures a structured and legal process for any changes to the list.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (c)
Explanation:
- Once the President specifies the Scheduled Castes in a particular state or union territory, any further modification to this list can only be done by the Parliament through legislation. This ensures a structured and legal process for any changes to the list.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 7 of 10
7. Question
1 pointsConsider the following statements about hydrogen fuel cells:
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- Hydrogen fuel cells produce electricity through an electrochemical reaction between hydrogen and oxygen.
- The only by-product of a hydrogen fuel cell is water.
- Hydrogen fuel cells are less efficient than traditional combustion engines.
How many of the above statements are correct?
Correct
Ans: (b)
Explanation:
- S1 is Correct: Hydrogen fuel cells produce electricity through an electrochemical reaction between hydrogen and oxygen. This process involves the reaction of hydrogen with oxygen in the fuel cell, creating electricity, water, and heat.
- S2 is Correct: The only by-product of a hydrogen fuel cell is water. When hydrogen reacts with oxygen in the fuel cell, it forms water as a by-product, making the process environmentally friendly.
- S3 is Incorrect: Hydrogen fuel cells are generally more efficient than traditional combustion engines. While combustion engines typically convert only 25-30% of the energy in fuel into useful work, hydrogen fuel cells can convert up to 60% of the energy into electricity.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (b)
Explanation:
- S1 is Correct: Hydrogen fuel cells produce electricity through an electrochemical reaction between hydrogen and oxygen. This process involves the reaction of hydrogen with oxygen in the fuel cell, creating electricity, water, and heat.
- S2 is Correct: The only by-product of a hydrogen fuel cell is water. When hydrogen reacts with oxygen in the fuel cell, it forms water as a by-product, making the process environmentally friendly.
- S3 is Incorrect: Hydrogen fuel cells are generally more efficient than traditional combustion engines. While combustion engines typically convert only 25-30% of the energy in fuel into useful work, hydrogen fuel cells can convert up to 60% of the energy into electricity.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 8 of 10
8. Question
1 pointsConsider the following statements:
-
- The Zungki River is a major river flowing through the state of Arunachal Pradesh in India.
- The river originates in the Himalayas and flows southwards.
- The Zungki River is a tributary of the Brahmaputra River.
How many of the above statements are correct?
Correct
Ans: (d)
Explanation:
- Zungki River is the biggest tributary of (flows into) Tizu river within Nagaland.
- Zunki river originates from the north-eastern part of Changdong forest in the south of Teku and flows south towards Noklak, Shamator and Kiphire and finally joins Tizu below Kiphire.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (d)
Explanation:
- Zungki River is the biggest tributary of (flows into) Tizu river within Nagaland.
- Zunki river originates from the north-eastern part of Changdong forest in the south of Teku and flows south towards Noklak, Shamator and Kiphire and finally joins Tizu below Kiphire.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 9 of 10
9. Question
1 pointsConsider the following statements:
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- National Waterway 1 (NW-1) is the longest National Waterway in India.
- The Inland Waterways Authority of India (IWAI) is responsible for the development and maintenance of national waterways only, and not state waterways.
- The IWAI operates under the Ministry of Environment, Forest and Climate Change.
How many of the above statements are correct?
Correct
Ans: (b)
Explanation:
- S1 is correct: National Waterway 1 (NW-1), which stretches from Allahabad to Haldia, is the longest National Waterway in India.
- S2 is correct: The IWAI is responsible for the development and maintenance of national waterways. State waterways are managed by the respective state governments.
- S3 is incorrect: The IWAI operates under the Ministry of Ports, Shipping and Waterways, not the Ministry of Environment, Forest and Climate Change.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (b)
Explanation:
- S1 is correct: National Waterway 1 (NW-1), which stretches from Allahabad to Haldia, is the longest National Waterway in India.
- S2 is correct: The IWAI is responsible for the development and maintenance of national waterways. State waterways are managed by the respective state governments.
- S3 is incorrect: The IWAI operates under the Ministry of Ports, Shipping and Waterways, not the Ministry of Environment, Forest and Climate Change.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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Question 10 of 10
10. Question
1 pointsConsider the following statements about electroencephalogram (EEG):
-
- An EEG measures electrical activity in the brain.
- EEG is commonly used to diagnose epilepsy and other seizure disorders.
- The electrodes used in EEG are typically placed on the scalp.
How many of the above statements are correct?
Correct
Ans: (c)
Explanation:
- S1 is Correct. An EEG measures the electrical activity of the brain by recording the brain’s spontaneous electrical activity over a period of time.
- S2 is Correct. EEG is commonly used in the diagnosis of epilepsy and other seizure disorders because it can detect abnormal electrical activity associated with these conditions.
- S3 is Correct. The electrodes used in EEG are indeed placed on the scalp to record the electrical activity of the brain.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
Incorrect
Ans: (c)
Explanation:
- S1 is Correct. An EEG measures the electrical activity of the brain by recording the brain’s spontaneous electrical activity over a period of time.
- S2 is Correct. EEG is commonly used in the diagnosis of epilepsy and other seizure disorders because it can detect abnormal electrical activity associated with these conditions.
- S3 is Correct. The electrodes used in EEG are indeed placed on the scalp to record the electrical activity of the brain.
Refer: https://www.insightsonindia.com/2024/07/17/upsc-current-affairs-17-july-2024/
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