Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 02 March 2023
Q1. Consider the following statements.
1. India’s Forex Reserve includes Foreign Currency Assets,
Gold reserves, Special Drawing Rights and Reserve position with the
International Monetary Fund (IMF).
2. SDR is an international currency created by the IMF in 1969 to supplement its
member countries’ official reserves.
3. Import Cover is the number of months of imports that could be paid for by a
country's international reserves.
Select the correct Statement(s) using the code given below.
a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3
Answer: (C)
Explanation:
- Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities.
- In India, RBI has the responsibility of maintaining Foreign exchange Reserve.
- India’s Forex Reserve includes Foreign Currency Assets, Gold reserves, Special Drawing Rights and Reserve position with the International Monetary Fund (IMF).
- So Statement 1 is correct.
- The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
- It is neither a currency nor a claim on the IMF.
- Thus statement 2 is NOT correct.
- Import Cover measures the number of months of imports that can be covered with foreign exchange reserves available with the central bank of the country.
- Thus statement 3 is correct.
Q2. With reference to the Adopt a Heritage scheme, consider the following statements:
1. The Adopt a Heritage scheme was launched in 2017 by the
Ministry of Tourism.
2. The Monument Mitra initiative is a key component of the Adopt a Heritage
scheme.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer: (C)
Explanation:
- The Adopt a Heritage scheme was launched in 2017 by the Ministry of Tourism, Government of India. The scheme aims to develop tourism infrastructure at heritage sites in India, in partnership with private sector companies, public sector companies, and individuals. So, statement 1 is correct.
- The Monument Mitra initiative is a key component of the Adopt a Heritage scheme. Under this initiative, individuals, companies, and organizations can adopt a monument or heritage site and take up responsibility for its maintenance, operations, and development. This initiative has been launched to promote community involvement and participation in preserving India's heritage. So, statement 2 is correct.
Q3. Consider the following statements:
1. El Nino is a climate pattern that describes the unusual
warming of surface waters in the eastern tropical Pacific Ocean.
2. El Nino events may last between one and three years, unlike La Nina, which
usually lasts no more than a year.
3. Asian waters receive below-normal rainfall during an El Nino.
Which of the statement/s given above is/are correct?
a) 1 only
b) 2 and 3 only
c) 1 and 3 only
d) 1 and 2 only
Answer: (C)
Explanation:
- El Nino is a climate pattern that describes the unusual warming of surface waters in the eastern tropical Pacific Ocean. It is the “warm phase” of a larger phenomenon called the El Nino-Southern Oscillation (ENSO). Hence, statement 1 is correct.
- La Nina events may last between one and three years, unlike El Nino, which usually lasts no more than a year. Hence, statement 2 is incorrect.
- Asian waters receive below-normal rainfall during an El Nino. Hence, statement 3 is correct.
Q4. Consider the following statements about the International Court of Justice.
1. The International Court of Justice (ICJ) is the principal
judicial organ of the United Nations (UN). The seat of the Court is at the Peace
Palace in Geneva (Switzerland).
2. The Court’s role is to settle, in accordance with international law, legal
disputes submitted to it by States and to give advisory opinions on legal
questions referred to it by authorized United Nations organs and specialized
agencies.
Which of the following option(s) is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer: (B)
Explanation:
- The International Court of Justice (ICJ) is the principal judicial organ of the United Nations (UN). It was established in June 1945 by the Charter of the United Nations and began work in April 1946.
- The seat of the Court is at the Peace Palace in The Hague (Netherlands). Of the six principal organs of the United Nations, it is the only one not located in New York (United States of America). . (Hence option 1 is incorrect)
- The Court’s role is to settle, in accordance with international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies. (Hence option 2 is correct).
- The Court is composed of 15 judges, who are elected for terms of office of nine years by the United Nations General Assembly and the Security Council. It is assisted by a Registry, its administrative organ. Its official languages are English and French.
Solution. As only option 2nd is correct, Hence the correct option is (b) 2 only.
