UPSC Current Affairs Quiz : 7 August 2024

Solution: b)

Statement 3 is incorrect.

The second sovereign green bond auction of FY25 received a muted response, with the Reserve Bank of India (RBI) selling only ₹1,697 crore worth of 10-year green bonds at a cut-off rate of 6.90%, against a notified amount of ₹6,000 crore.

The funds from these bonds are intended for public sector projects to reduce the carbon footprint.

Solution: c)

New rules for FASTags, effective from August 1, mandate that FASTags older than five years must be replaced, and KYC updates are required every three years.

Solution: d)

India has selected two Indian Air Force Group Captains, for the Axiom-4 mission to the International Space Station (ISS).

• This mission marks the fourth private astronaut mission to the ISS and is part of a joint ISRO-NASA effort envisioned during the Prime Minister’s state visit to the U.S. in June 2023.
• The Indian crew members will undergo training in the U.S. starting the first week of August, preparing to undertake scientific research, technology demonstrations, and space outreach activities aboard the ISS.
• This mission aims to enhance India’s human space program and strengthen ISRO-NASA collaboration.

Solution: d)

A study revealed that 52 out of the top 53 Indian apps use deceptive design practices called dark patterns, affecting user autonomy and informed decision-making.

• These apps, including popular ones like Netflix, Ola, and Swiggy, employ tactics such as privacy deception, interface interference, drip pricing, and false urgency.

Solution: c)

The article discusses the advancements and current state of Directed Energy Weapons (DEWs), highlighting their growing importance as countermeasures against autonomous and hypersonic weapons.

• The United States has significantly invested in DEWs, developing systems like high-energy lasers (HEL) and high-powered microwaves (HPM), with various applications ranging from missile defence to disabling drones.
• Countries like China, Russia, and others are also advancing their DEW capabilities.
• India has been investing in DEWs through organizations like DRDO and BEL, working on projects like Tri-Netra and KALI.

Directed energy weapons (DEWs) are defined as electromagnetic systems capable of converting chemical or electrical energy to radiated energy and focusing it on a target, resulting in physical damage that degrades, neutralizes, defeats, or destroys an adversarial capability.

Solution: a)

Only Statement 2 is correct.

The yen carry trade has recently gained attention due to the sharp appreciation of the yen following the Bank of Japan’s (BoJ) interest rate hike and reduction in bond purchases.

• This prompted investors to unwind their positions to avoid losses, leading to a selloff in US tech stocks and impacting global markets, including Asia.

What is a Carry Trade?

• A trading strategy where investors borrow in a country with low interest rates and reinvest in assets of another country with higher returns.
• It is a significant source of flows in the global currency market. 

Yen Carry Trade:

• The Japanese yen is a popular currency for carrying trades due to Japan’s prolonged zero-interest rate policy.
• Investors borrow yen at low interest rates and invest in higher-yielding foreign assets, such as US equities. 

Current Focus on Yen Carry Trade:

• The yen appreciated by over 3% against the dollar after the BoJ raised interest rates to 0.25% and reduced bond purchases.
• This move is seen as a shift towards normalizing monetary policy, prompting investors to unwind and carry trades to avoid losses. 

Impact of Unwinding Yen Carry Trades:

• Unwinding has led to a severe selloff in US tech stocks, spilling over to Asian markets, including India. 

Solution: b)

Statement 3 is incorrect.

Scientists have proposed Ladakh as the ideal location for India’s first analogue research station to simulate conditions on the Moon and Mars.

• This proposal aligns with ISRO’s ambitious space program goals, such as the Gaganyaan mission and plans for lunar and interplanetary exploration.

Ladakh’s dry, cold, and arid desert, along with its rocky terrain, makes it geomorphologically similar to the lunar and Martian landscapes.

The region’s features include rocky ground, loose rock, flat land, ground ice, permafrost, rock glaciers, dunes, and drainage networks, mirroring early Mars and the Moon.

Solution: b)

Statement 3 is incorrect.

Researchers from the Indian Institute of Astrophysics (IIA) have discovered a “vampire star” in the star cluster M67 in the constellation Cancer.

• These vampire stars, known as blue straggler stars (BSS),defy standard stellar evolution models and appear younger than they are.
• The star, named WOCS 9005, rejuvenates by siphoning material from a companion star.
• This detection was made possible using data from the UltraViolet Imaging Telescope on AstroSat, India’s first space observatory.
• Spectroscopic analysis revealed the star’s atmosphere is rich in heavy elements like barium, yttrium, and lanthanum, indicating it has been polluted by material from its binary companion, which has since become a white dwarf.
• This discovery provides significant insight into the complex mass transfer process in binary star systems.

Solution: c)

A four-ringed butterfly, the great four-ring (Ypthima cantliei), has been rediscovered in India after 61 years, according to a study published by the Bombay Natural History Society (BNHS).

• The butterfly was recorded in 2018 in Namdapha National Park, Arunachal Pradesh.

Solution: d)

Union Minister announced that Village Defence Guards (VDGs) in Jammu have been equipped with sophisticated weapons to combat rising terror incidents in the region.

About Village Defence Guards:

• Formation: Set up in the mid-1990s as a force multiplier against militant attacks.
• Purpose: Provide weapons and arms training to residents of remote hilly villages to defend themselves.