Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams
Date: 26 December 2023
1. Consider the following statements about NRI Deposits in India:
1. NRO and FCNR(B) accounts are Rupee denominated but NRE account deposits are in foreign currency.
2. NRI deposits provide a platform for Non-Resident Indians (NRIs) to invest their money in India.
3. NRI deposits are also non-taxable in India.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer: (B)
Explanation: NRI Deposits provide a financial platform for Non-Resident Indians (NRIs) to invest their wealth in India. Typically residing outside India, NRIs earn income in international currencies like the US dollar and Euro. The demand arises for an account capable of holding and converting their diverse assets and funds into Indian rupees. In response to this need, the NRI account serves a crucial role, facilitating the management and conversion of securities and money from various international currencies into Indian rupees.
There are several types of NRI accounts tailored to different financial needs. The NRE (Non-Resident External) Account is designed to enable the seamless transfer of money earned overseas to India. It operates as a rupee-dominated account that is repatriable, allowing the transfer of international earnings back to India, and the interest earned on the NRE account is exempt from taxes. On the other hand, the NRO (Non-Resident Ordinary) Account is formed and held in INR values, catering to revenue received within India, such as rent and dividends. Notably, there is no currency conversion barrier, as deposits in the NRO account are made in rupee denominations.
Additionally, the FCNR (Foreign Currency Non-Resident) Account is instrumental for NRIs or Persons of Indian Origin looking to make deposits in foreign currency. This account allows deposits in the denomination of currencies from their resident country. The principal amount and interest in an FCNR Account are fully repatriable, and the interest income earned is non-taxable in India. However, it is essential to adhere to the currencies prescribed by the Reserve Bank of India for holding in the FCNR account. These different account types cater to the diverse financial preferences and requirements of NRIs, providing flexibility and ease of managing their finances in India.
2. Consider the following pairs about the payloads on AstroSat:
| Payload | Use |
|---|---|
| 1. Ultra Violet Imaging Telescope (UVIT) | Performs imaging in three channels covering different UV and visible wavelength ranges. |
| 2. Cadmium Zinc Telluride Imager (CZTI) | Hard X-ray detector array |
| 3. Charged Particle Monitor (CPM) | Utilizes focusing optics and a CCD camera for X-ray imaging |
| 4. Large Area X-ray Proportional Counter (LAXPC) | Covers X-ray timing and low-resolution spectral studies over a broad energy band |
How many of the above pairs are correctly matched?
(a) Only one pair
(b) Only two pairs
(c) Only three pairs
(d) All four pairs
Answer: (C)
Explanation: AstroSat satellite is equipped with a diverse array of scientific instruments, known as payloads, each designed for specific observations in different wavelength ranges. Among these, the Ultra Violet Imaging Telescope (UVIT) plays a crucial role in imaging by utilizing three channels covering distinct UV and visible wavelength ranges. UVIT offers flexibility through spectral band selection facilitated by filters and grating for slitless spectroscopy.
The Soft X-ray Imaging Telescope (SXT) employs focusing optics and a CCD camera to capture X-ray images in the 0.3–8.0 keV band. Notably, it incorporates gold-coated conical foil mirrors to enhance its imaging capabilities. Another significant payload is the Large Area X-ray Proportional Counter (LAXPC), which is dedicated to covering X-ray timing and low-resolution spectral studies across a broad energy band ranging from 3 to 80 keV. This comprises a cluster of three co-aligned identical LAXPCs.
The Cadmium Zinc Telluride Imager (CZTI) serves as a hard X-ray imager with a Pixellated Cadmium-Zinc-Telluride detector array. Offering an effective area of 500 cm2 and an energy range from 10 to 150 keV, CZTI provides valuable insights into high-energy phenomena. The Scanning Sky Monitor (SSM) is designed with three position-sensitive proportional counters featuring a coded mask for imaging purposes, drawing parallels to NASA's RXTE satellite's All Sky Monitor.
To ensure optimal functionality and safeguard against potential damage, the Charged Particle Monitor (CPM) is incorporated as part of AstroSat's payloads. This monitoring system actively controls the operation of LAXPC, SXT, and SSM, particularly during orbits passing through regions with high fluxes of low-energy particles.
3. Which of the following statements about ASEAN India Trade in Goods Agreement is incorrect?
a. The agreement was signed during the 8th ASEAN Economic Ministers-India Consultations.
b. The agreement primarily pertains to the trade of tangible goods and products.
c. It became effective in the year 2010.
d. It does not encompass the trading of services.
Answer: (A)
Explanation: India and ASEAN are set to commence discussions in February with the aim of revising their 15-year-old free trade agreement, known as the ASEAN-India Trade in Goods Agreement (AITGA). The initiative seeks to achieve a more balanced deal that favors New Delhi. Since the implementation of AITGA in January 2010, there has been a notable imbalance, with ASEAN benefiting disproportionately and India experiencing a widening trade deficit with the region. The trade deficit has escalated from $7.5 billion per annum to $43.57 billion in the fiscal year 2023.
AITGA, a significant trade arrangement between India and the ten ASEAN member states, was formally established during the 7th ASEAN Economic Ministers-India Consultations in Bangkok, Thailand, in 2009. The agreement came into effect in 2010, commonly known as the ASEAN-India Free Trade Agreement. Serving as a framework agreement, AITGA lays the groundwork for future trade negotiations between India and ASEAN, primarily focusing on the exchange of physical goods and products. Notably, the agreement does not encompass trade in services.
4. Consider the following institutions:
1. NITI Aayog
2. Council of Scientific & Industrial Research
3. Central Drugs Standard Control Organisation
4. National Medical Commission
5. Indian Council of Medical Research
Which of the above institutions have collectively formed ‘MedTech Mitra’?
(a) 1, 3, 5
(b) 2, 3, 4
(c) 1, 2, 4, 5
(d) 2, 3, 4, 5
Answer: (A)
Explanation: The virtual launch of 'MedTech Mitra' was recently conducted by Dr. Mansukh Mandaviya, the Union Minister of Health and Family Welfare and Chemicals & Fertilizers. 'MedTech Mitra' is a platform designed to support and nurture medical technology (MedTech) innovators within India. The initiative offers guidance, resources, and assistance to shape research endeavors and navigate the regulatory approval process. This collaborative venture involves NITI Aayog, ICMR, and CDSCO, aligning with the 'Viksit Bharat' vision. The overarching goal of 'MedTech Mitra' is to contribute to the transformation of India's healthcare sector by 2047 through fostering indigenous innovation. The implementation of various schemes, including production-linked incentives, investments in medical drug parks, and research policies, aims to promote the indigenous development of high-quality yet affordable MedTech devices.
5. NASAMS, recently seen in news, is a:
(a) High altitude combat uniform
(b) Anti-material rifles
(c) Surface-to-Air Missile System
(d) Light tank
Answer: (C)
Explanation: NASAMS (Norwegian Advanced Surface-to-Air Missile System) is an advanced ground-based air defense system jointly developed by Kongsberg Defence & Aerospace and Raytheon. It defends against various airborne threats, including UAVs, helicopters, cruise missiles, UCAVs, and fixed-wing aircraft. NASAMS was the first to use the AIM-120 AMRAAM as a surface-launched missile. NASAMS 2, operational since 2007, introduced Link 16 capability, while the latest version, NASAMS 3, deployed in 2019, adds the ability to fire AIM-9X Sidewinder, IRIS-T SLS, and AMRAAM-ER missiles, along with mobile air-liftable launchers. NASAMS demonstrates interoperability with longer-range systems like Patriot.
