Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 11 September 2023
1. Consider the following statements, with reference to Incremental Cash Reserve Ratio (I-CRR):
1. It aims to absorb the surplus liquidity generated by the
return of Rs 2,000 notes to the banking system.
2. I-CRR is an additional cash balance that RBI can ask banks to maintain over
and above CRR for a specific period.
3. I-CRR mandates banks to maintain 10% on the increase in their net demand and
time liabilities (NDTL).
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (C)
Explanation: Recently, RBI has decided to discontinue the I-CRR in a phased manner since it was adopted as temporary measure to absorb excess liquidity from the banking system. The I-CRR was introduced on August 10, 2023, by the RBI to absorb the surplus liquidity generated by various factors, including the return of Rs 2,000 notes to the banking system. The level of surplus liquidity in the system surged because of the return of Rs 2,000 banknotes to the banking system, RBI’s surplus transfer to the government, pick up in government spending and capital inflows. I-CRR is an additional cash balance that RBI can ask banks to maintain over and above CRR for a specific period. The banks are mandated to maintain an I-CRR of 10% on the increase in their net demand and time liabilities (NDTL). NDTL refers to the total demand and time liabilities (deposits) of the public that are held by the banks with other banks. I-CRR measure is expected to absorb above Rs 1 lakh crore of excess liquidity from the banking system. The Cash Reserve Ratio (CRR) is the minimum amount of the total deposits which banks have to maintain as cash reserve with the Reserve Bank of India. Hence, all statements are correct.
2. Consider the following statements, with reference to Pearl Millet:
1. Pearl millet is also called bajra.
2. It is a rainfed Rabi crop of dry and warm north-western and western parts of
the country.
3. It is a hardy crop which resists frequent dry spells and drought.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (B)
Explanation: According to recent study India’s core pearl millet or bajra production zone has shifted to 18 districts spread across eastern Rajasthan and Haryana between 1998 and 2017. Pearl millet is also called, as bajra in India, is suited to soils of low fertility and limited moisture. It is a popular food crop in India and Africa. It is a rainfed Kharif crop of dry and warm north-western and western parts of the country. It is a hardy crop which resists frequent dry spells and drought. Pearl millet is the major millet occupying first position among all the millets in India followed by Sorghum and Ragi. It is termed as “nutricereal” as it is a good source of energy, carbohydrate, protein, fat, ash, dietary fiber, iron and zinc. India classifies pearl millet cultivation zones based on rainfall patterns and soil types. Hence, statement 2 is incorrect.
3. G4, group is often in news, which of the following nations are members of it?
1. Brazil
2. Germany
3. India
4. Japan
Select the correct answer using code given below:
(a) 2 and 3 only
(b) 1, 2 and 4 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (D)
Explanation:
- Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva Sunday agreed to continue working towards reform in the UN Security Council (UNSC) under the framework of the G4 and L.69 groupings as well as by holding regular bilateral coordination meetings.
- The G4 nations — Brazil, Germany, India and Japan — support each others’ bid for permanent UNSC membership. The L.69, a group of developing countries from Africa, Latin America and the Caribbean, Asia and the Pacific (Small Island Developing States), also supports UNSC reform. Hence, option (d) is correct.
4. Consider the following statements with reference to Banglar mati, Banglar jol:
1. Banglar mati, Banglar jol is a prayer for Bengali unity
and harmony written by Rabindranath Tagore.
2. It is the state anthem of West Bengal and national anthem of Bangladesh
respectively.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (A)
Explanation:
- Recently the West Bengal Assembly passed a resolution making Poila Baishakh (April 15) as the statehood day and declaring Rabindranath Tagore’s Banglar mati, Banglar jol as the state anthem. Banglar mati, Banglar jol is a prayer for Bengali unity and harmony which was written by Rabindranath Tagore in the context of Viceroy Lord Curzon’s partition of Bengal in 1905. Hence, statement 1 is correct.
- The song became an anthem for those fighting against Britain’s divide and rule policy during Bengal partition. Banglar mati, Banglar jol is the state anthem of Bangladesh. Amar sonar Bangla (My golden Bengal) written by Rabindranath Tagore is the national anthem of Bangladesh. Hence, statement 2 is incorrect.
5. Consider the following pairs:
| Arts | States |
| 1. Saura painting | Gujarat |
| 2. Maheshwari silk sarees | Tamil Nadu |
| 3. Millenium Silk | Assam |
| 4. Pithora Art | Madhya Pradesh |
How many of the pairs given above are correctly matched?
(a) Only one pair
(b) Only two pairs
(c) Only three pairs
(d) All four pairs
Answer: (B)
Explanation: The exhibition ‘Tribes India’ pavilion is a part of the G-20 Leaders' Summit at Bharat Mandapam, New Delhi that is being conducted by TRIFED to showcase a wide range of traditional tribal arts.
- Pithora Art – They are ritual paintings, characterized by animated figures and lavish use of colour, propagated by the Rathwa, Bhilala, Naik and Bhil tribes of Gujarat and Madhya Pradesh.
- Gond painting from Madhya Pradesh.
- Saura painting by artisans from Odisha.
- Angora and Pashmina shawls from the high altitudes of Leh-Ladakh and Himachal Pradesh, woven by the Bodh and Bhutia tribes.
- Maheshwari silk sarees from Madhya Pradesh.
- Eri or “Millenium Silk” made by Bodo tribe from Assam.
