Current Affairs Quiz 07 July 2023
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Current Affairs Quiz 07 July 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
With reference to financial sector of India, consider the following statements:
1. In India, the small finance banks are not covered under the definition of Commercial banks.
2. Bank customers in India are not covered under the definition of ‘consumer’ under the Consumer Protection Act, 2019.
3. Prior approval of RBI is necessary for the NBFCs to make investments in foreign entities.
Which of the statements given above is/are correct?CorrectAnswer: C
Commercial banks include regional rural banks (RRBs); and scheduled commercial banks, which are: government-owned or public sector banks (PSBs); private banks; branches or subsidiaries of foreign banks; and small finance banks.IncorrectAnswer: C
Commercial banks include regional rural banks (RRBs); and scheduled commercial banks, which are: government-owned or public sector banks (PSBs); private banks; branches or subsidiaries of foreign banks; and small finance banks. - Question 2 of 5
2. Question
Which of the following contribute to greenhouse gas emissions?
1. Oxidation of carbon compounds
2. Consumption of fossil fuels
3. Manufacture of cement
Select the correct answer using the code given below.CorrectAnswer: D
All the statements are correctIncorrectAnswer: D
All the statements are correct - Question 3 of 5
3. Question
Which of the following elements and compounds observe bioaccumulation along
the food chain?
1. Dichloro-Diphenyl-Trichloroethane (DDT)
2. Mercury
3. Radioactive isotopes
Select the correct answer using the code given below.CorrectAnswer: D
All the statements are correctIncorrectAnswer: D
All the statements are correct - Question 4 of 5
4. Question
Consider the following taxes:
1. Tobacco Tax.
2. Tax on plastic bags.
3. Carbon Emission Tax.
4. Basic Custom Duty.
Which of the above tax(es) is/are examples of Pigouvian Tax?CorrectAnswer: B
A Pigouvian tax, named after 1920 British economist Arthur C. Pigou, is a tax on a market transaction that
creates a negative externality, or an additional cost, borne by individuals not directly involved in the
transaction. Externality is an activity that creates a negative effect on others in a society but not
necessarily the person who does that activity.IncorrectAnswer: B
A Pigouvian tax, named after 1920 British economist Arthur C. Pigou, is a tax on a market transaction that
creates a negative externality, or an additional cost, borne by individuals not directly involved in the
transaction. Externality is an activity that creates a negative effect on others in a society but not
necessarily the person who does that activity. - Question 5 of 5
5. Question
Consider the following statements regarding Indian Ocean Conference :
1. The IOC concentrates on fostering regional cooperation under the framework of Security and Growth for All in the Region (SAGAR).
2. While the primary focus is on coastal countries of the Indian Ocean, the conference has expanded its scope to cover important global issues.
Which of the statements given above is/are correct?CorrectAnswer: C
About Indian Ocean Conference
The Indian Ocean Conference (IOC) is an annual event that has been held since 2016, serving as a crucial platform for regional countries to engage in discussions on matters pertaining to the region. Here are the key points about the IOC:Focus and Objectives:
• The IOC concentrates on fostering regional cooperation under the framework of Security and Growth for All in the Region (SAGAR).
• It brings together key states and maritime partners in the Indian Ocean region to address pertinent issues.Participants:
• While the primary focus is on coastal countries of the Indian Ocean, the conference has expanded its scope to cover important global issues.
• Dignitaries attending the conference include the President of Mauritius, Vice President of Maldives, and India’s External Affairs Minister, S Jaishankar.
• Foreign Ministers from Bhutan, Nepal, Bahrain, and Singapore, along with ministerial representatives from Seychelles, Sri Lanka, and Madagascar, are also expected to participate.
• Around 150 foreign guests, including representatives from D8, SAARC, and BIMSTEC, are anticipated to attend.Significance of the IOC:
• The IOC holds significant importance in terms of strengthening partnerships with Indian Ocean countries, promoting regional political engagement, and facilitating decision-making during crisis situations.
• It provides a platform for participating countries to discuss global events and make informed decisions regarding future actions.IncorrectAnswer: C
About Indian Ocean Conference
The Indian Ocean Conference (IOC) is an annual event that has been held since 2016, serving as a crucial platform for regional countries to engage in discussions on matters pertaining to the region. Here are the key points about the IOC:Focus and Objectives:
• The IOC concentrates on fostering regional cooperation under the framework of Security and Growth for All in the Region (SAGAR).
• It brings together key states and maritime partners in the Indian Ocean region to address pertinent issues.Participants:
• While the primary focus is on coastal countries of the Indian Ocean, the conference has expanded its scope to cover important global issues.
• Dignitaries attending the conference include the President of Mauritius, Vice President of Maldives, and India’s External Affairs Minister, S Jaishankar.
• Foreign Ministers from Bhutan, Nepal, Bahrain, and Singapore, along with ministerial representatives from Seychelles, Sri Lanka, and Madagascar, are also expected to participate.
• Around 150 foreign guests, including representatives from D8, SAARC, and BIMSTEC, are anticipated to attend.Significance of the IOC:
• The IOC holds significant importance in terms of strengthening partnerships with Indian Ocean countries, promoting regional political engagement, and facilitating decision-making during crisis situations.
• It provides a platform for participating countries to discuss global events and make informed decisions regarding future actions.
