Current Affairs Quiz 20 August 2022
Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
Current Affairs Quiz 20 August 2022 for UPSC Prelims
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
- Question 1 of 5
1. Question
Consider the following pairs: Strait Between
1. Hormuz : Iraq and Iran
2. Malacca : Australia and Indonesia
3. Bering : Russia and the USA
Which of the pairs given above is/are correctly matched?CorrectAnswer: C
The Strait of Hormuz, located between Oman and Iran.
The Strait of Malacca or Straits of Malacca is a narrow stretch of water, 580 miles in length, between
the Malay Peninsula and the Indonesian island of Sumatra.IncorrectAnswer: C
The Strait of Hormuz, located between Oman and Iran.
The Strait of Malacca or Straits of Malacca is a narrow stretch of water, 580 miles in length, between
the Malay Peninsula and the Indonesian island of Sumatra. - Question 2 of 5
2. Question
Consider the following statements with reference to Sovereign Gold Bond Scheme:
1. Sovereign Gold Bond Scheme was introduced in the Union Budget 2020- 21
2. The minimum permissible investment limit will be 1000 grams of gold.
Which of the statements given above is/are correct?
CorrectAnswer: D
About Sovereign Gold Bond Scheme (SGB)
- The Sovereign Gold Bond Scheme was introduced in the Union Budget 2015-16 by the Union Cabinet which was chaired by PM Narendra Modi.
- It was launched to reduce the demand for physical gold and with an aim to invest a part of these physicals gold bars and coins that are purchased every year into financial savings in the form of gold bonds.
- Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
- The Bond is issued by Reserve Bank on behalf of Government of India.
- Government introduced these bonds to help reduce India’s over dependence on gold imports.
- The move was also aimed at changing the habits of Indians from saving in physical form of gold to a paper form with Sovereign backing.
- The bonds will be restricted for sale to resident Indian entities, including individuals, Hindu Undivided Family (HUFs), trusts, universities and charitable institutions.
- The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
- The tenor will be for a period of 8 years with exit option from the 5th year to be exercised on the interest payment dates.
- The minimum permissible investment limit will be 1 gram of gold, while the maximum limit will be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.
- In case of joint holding, the investment limit of 4 kg will be applied to the first applicant only.
- Bonds can be used as collateral for loans.
- The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
IncorrectAnswer: D
About Sovereign Gold Bond Scheme (SGB)
- The Sovereign Gold Bond Scheme was introduced in the Union Budget 2015-16 by the Union Cabinet which was chaired by PM Narendra Modi.
- It was launched to reduce the demand for physical gold and with an aim to invest a part of these physicals gold bars and coins that are purchased every year into financial savings in the form of gold bonds.
- Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
- The Bond is issued by Reserve Bank on behalf of Government of India.
- Government introduced these bonds to help reduce India’s over dependence on gold imports.
- The move was also aimed at changing the habits of Indians from saving in physical form of gold to a paper form with Sovereign backing.
- The bonds will be restricted for sale to resident Indian entities, including individuals, Hindu Undivided Family (HUFs), trusts, universities and charitable institutions.
- The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
- The tenor will be for a period of 8 years with exit option from the 5th year to be exercised on the interest payment dates.
- The minimum permissible investment limit will be 1 gram of gold, while the maximum limit will be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.
- In case of joint holding, the investment limit of 4 kg will be applied to the first applicant only.
- Bonds can be used as collateral for loans.
- The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
- Question 3 of 5
3. Question
Which of the following statements regarding Census are correct?
1. The first synchronous census in India was held in 1950.
2. The census provides information on size, distribution and socio-economic, demographic and other characteristics of the country’s population.
Select the correct answer using the code below.CorrectAnswer: B
About the Census
• The census provides information on size, distribution and socio-economic, demographic and other characteristics of the country’s population.
• The first synchronous census in India was held in 1881, and since then, censuses have been undertaken uninterruptedly once every ten years.
• India’s last census was carried out in 2011 when the country’s population stood at 121 crores.
• The Census 2021 will be conducted in 18 languages out of the 22 scheduled languages (under 8th schedule) and English, and the option of “Other” under the gender category will be changed to “Third Gender”.
• For the first time data is proposed to be collected through a mobile app by enumerators and they will receive an additional payment as an incentive.
• The last caste-based census was conducted by the British in 1931.
• Arthashastra by ‘Kautilya’ written in the 3rd Century BC prescribed the collection of population statistics as a measure of state policy for taxation.
• In India, a census is conducted every decade and Census 2021 will be the 16th national census of the country.IncorrectAnswer: B
About the Census
• The census provides information on size, distribution and socio-economic, demographic and other characteristics of the country’s population.
• The first synchronous census in India was held in 1881, and since then, censuses have been undertaken uninterruptedly once every ten years.
• India’s last census was carried out in 2011 when the country’s population stood at 121 crores.
• The Census 2021 will be conducted in 18 languages out of the 22 scheduled languages (under 8th schedule) and English, and the option of “Other” under the gender category will be changed to “Third Gender”.
• For the first time data is proposed to be collected through a mobile app by enumerators and they will receive an additional payment as an incentive.
• The last caste-based census was conducted by the British in 1931.
• Arthashastra by ‘Kautilya’ written in the 3rd Century BC prescribed the collection of population statistics as a measure of state policy for taxation.
• In India, a census is conducted every decade and Census 2021 will be the 16th national census of the country. - Question 4 of 5
4. Question
Consider the following statements about National Commission for Minorities.
1. National Commission for Minorities (NCM) is not a Statutory Body.
2. The term “minority” is not defined in the Indian Constitution.Which of the above statement is/are correct?
CorrectAnswer: B
About National Commission for Minorities (NCM)
• The Union Government set up the National Commission for Minorities (NCM) under the National Commission for Minorities Act, 1992. Hence, the NCM is a Statutory Body.
• Six religious communities, viz; Muslims, Christians, Sikhs, Buddhists, Zoroastrians (Parsis) and Jains have been notified in Gazette of India as minority communities by the Union Government all over India.
• The term “minority” is not defined in the Indian Constitution. However, the Constitution recognises religious and linguistic minorities – The NCM Act defines a minority as “a community notified as such by the Central government.”
• The NCM adheres to the United Nations Declaration of 18 December 1992 which states that “States shall protect the existence of the National or Ethnic, Cultural, Religious and Linguistic identity of minorities within their respective territories and encourage conditions for the promotion of that identity.”IncorrectAnswer: B
About National Commission for Minorities (NCM)
• The Union Government set up the National Commission for Minorities (NCM) under the National Commission for Minorities Act, 1992. Hence, the NCM is a Statutory Body.
• Six religious communities, viz; Muslims, Christians, Sikhs, Buddhists, Zoroastrians (Parsis) and Jains have been notified in Gazette of India as minority communities by the Union Government all over India.
• The term “minority” is not defined in the Indian Constitution. However, the Constitution recognises religious and linguistic minorities – The NCM Act defines a minority as “a community notified as such by the Central government.”
• The NCM adheres to the United Nations Declaration of 18 December 1992 which states that “States shall protect the existence of the National or Ethnic, Cultural, Religious and Linguistic identity of minorities within their respective territories and encourage conditions for the promotion of that identity.” - Question 5 of 5
5. Question
With reference to the Blockchain Technology, consider the following statements?
1. It is a public ledger that everyone can inspect, which no single user controls
2. The structure and design of blockchain is such that all the data in it are about cryptocurrency only
3. Applications that depend on the basic features of blockchain can be developed without anybody’s permission
Which of the statements given above is/are correct?CorrectAns;- c) Only 1 and 3
About Block Chain Technology
• A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.
• This allows the participants to verify and audit transactions independently and relatively inexpensively. A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests. Such a design facilitates robust workflow where participants’ uncertainty regarding data security is marginal.
• The great advantage to an open, permission less, or public, blockchain network is that guarding against bad actors is not required and no access control is needed.
• This means that applications can be added to the network without the approval or trust of others, using the blockchain as a transport layer.
• S2 is clearly wrong, Blockchain can be used for a variety of purposes of which cryptocurrency is one of them.IncorrectAns;- c) Only 1 and 3
About Block Chain Technology
• A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be altered retroactively, without the alteration of all subsequent blocks.
• This allows the participants to verify and audit transactions independently and relatively inexpensively. A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests. Such a design facilitates robust workflow where participants’ uncertainty regarding data security is marginal.
• The great advantage to an open, permission less, or public, blockchain network is that guarding against bad actors is not required and no access control is needed.
• This means that applications can be added to the network without the approval or trust of others, using the blockchain as a transport layer.
• S2 is clearly wrong, Blockchain can be used for a variety of purposes of which cryptocurrency is one of them.
