Daily Current Affairs Quiz: September 12 , 2023

Q1. Consider the following statements about the fifth schedule:

1. It protects the interests of Scheduled Tribes.
2. It provides for the administration of tribal Areas in ten states in India, including Andhra Pradesh, Chhattisgarh, Gujarat, and Himachal Pradesh.
3. The President can declare any area or the whole state as a scheduled area.
4. It protects the interests of all the border States

How many of the statements given above is/are correct?
A. Only one
B. Only two
C. Only three
D. All four

Show solution

Solution: option C.)

Ans. 1 Option C is correct Explanation
• According to the 5th Schedule of the Indian Constitution, an area is declared a Scheduled Area if it fulfills the following
criteria-
o Economic backwardness of the area (in comparison to its neighboring areas).
or a viable entity for administration such as taluk, block, or district,
o The area’s reasonable size and compactness,
• In 2016, Rajasthan, Orissa, Maharashtra, Madhya Pradesh, Himachal Pradesh, Gujarat, Chhattisgarh, Jharkhand, Telangana, and Andhra Pradesh were the 10 Indian states with the scheduled areas. Hence statement 2 is correct.
• tribal population’s preponderance.
• Protect the interests of Scheduled Tribes.
Hence statement 1 is correct.
• Though the Indian Constitution doesn’t spell out this criterion. Still, there are principles for declaring the partially excluded and excluded areas under the Government of India Act
• In the 5th Schedule of the Indian Constitution, the President can declare any such area or the whole state as a scheduled area. Hence statement 3 is correct.
• In consultation with the Governor, the president is also empowered to alter the boundary of such areas by reducing it or increasing the size of the area.
• It has nothing to do with the border area. Hence statement 4 is incorrect.

Q2. Consider the following countries

1. India
2. USA
3. Saudi Arabia
4. France

How many of the nations mentioned above are part of the India-Middle East- Europe Economic Corridor?
A. Only one
B. Only two
C. Only three
D. All four

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Solution: option D.)

Ans. 2 Option D is the correct Explanation
• A MoU was signed between the Governments of India, the US, Saudi Arabia, the European Union, the UAE, France, Germany, and Italy to establish the India – Middle East – Europe Economic Corridor (IMEC). Hence, Option D
is correct.
• IMEC is part of a broader initiative called the Partnership for Global Infrastructure Investment (PGII).
• IMEC is a significant infrastructure project connecting India, the Middle East, and Europe.
• The project aims to establish a network of transport corridors, including railways and sea lanes.
• IMEC is seen as a response to China’s Belt and Road Initiative (BRI), providing an alternative infrastructure network.

Q3. Consider the following statements about the G20

1. It focuses solely on economic matters.
2. It has a rotating presidency that changes every five years.
3. It excludes developing nations from its discussions.
4. It has its own permanent secretariat.

How many of the statements given above is/are not correct?
A. Only one
B. Only two
C. Only three
D. All four

Show solution

Solution: option D.)

Ans. 3 Option D is the correct Explanation
• The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU).
• The G20 is composed of most of the world’s largest economies, including both industrialized and developing nations. Hence, statement 3 is incorrect.
• They come together to discuss and coordinate various global issues, including economic matters, financial stability, and a
wide range of other challenges such as climate change, development, and international trade. Hence, statement 1 is
incorrect.
• The G20 operates without a permanent secretariat or staff. Hence, statement 4 is

Q4. Which of the following statements is correct regarding “green crackers”?
1. These crackers are composed of salts of strontium, sodium, barium, calcium, and copper as well as white metals
2. The crackers were developed by the Council of Scientific and Industrial Research.

Which of the statements given above is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Show solution

Solution: option B.)

Ans. 4 Option B is correct Explanation
• Conventional crackers are composed of charcoal or thermite in combination with oxidizing agents such as nitrates or chlorates, sulfur agents, and coloring agents.
• These include salts of strontium, sodium, barium, calcium, and copper as well as white metals, which produce more particulate matter (PM).
• But Green crackers are low-emission crackers, free of harmful chemicals such as sulfur, nitrates, arsenic, magnesium,
sodium, lead, and barium, which reduce the emission by up to 30%. Hence, statement 1 is incorrect.
• Green Crackers, also known as ‘eco-friendly’ crackers are known to cause less air and noise pollution as compared to traditional firecrackers.
• Designed by the National Environmental and Engineering Research Institute (NEERI), under the aegis of CSIR in 2018. Hence, statement 2 is correct.

Q5. Consider the following statements regarding the Money Market

1. It includes buying and selling securities of long-term maturities with one year or more.
2. It is exclusively used by Non-Banking Financial Companies (NBFCs) to raise funds.

Which of the statements given above is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Show solution

Solution: option D.)

Ans. 5 Option D is correct Explanation
• Money market instruments are financial instruments that are used to manage short-term liquidity and invest excess cash. Hence, statement 1 is incorrect.
• These instruments are considered to be low-risk and low-return investment options.
• Governments, corporations, and financial institutions can issue money market instruments to raise funds quickly and meet their immediate cash flow needs. Hence, statement 2 is incorrect.

Q6. Consider the following statements with reference to nanoparticles

1. Nanoparticles do not exist in nature other than those made by humans.
2. Nanoparticles of some metallic oxides are used in the manufacture of some cosmetics.
3. Nanotechnology is the technology that involves the manipulation of matter on atomic, molecular, and
supramolecular scales.

How many of the statements given above is/are correct?
A. Only one
B. Only two
C. All three
D. None

Show solution

Solution: option B.)

Ans. 6 Option B is correct Explanation
• Nanotechnology or nanotech is the technology that involves the manipulation of matter on atomic, molecular, and
supramolecular scales. Hence, statement 3 is correct.
• This includes particles of a scale of 1 to 100 nanometers.
• Naturally occurring nanoparticles can be found in volcanic ash, ocean spray, fine sand and dust, and even biological matter (e.g. viruses). Hence, statement 1 is incorrect.
• Synthetic nanoparticles are equally, if not more diverse than their naturally occurring counterparts.
• The field of nanotechnology is being greatly explored by cosmetic industries in order to improve the efficacy of cosmetic products.
• The cosmetics are formulated by using different types of metal and metal oxide nanoparticles. Hence, statement 2 is
correct.

Q7. With reference to the Central Bureau of Investigation (CBI), considers the following statements

1. CBI is not required to obtain the consent of the state government concerned before beginning to investigate a crime in a state.
2. The establishment of the CBI was recommended by the Santhanam Committee on Prevention of Corruption.

Which of the statements given above is/are not correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Show solution

Solution: option A.)

Ans. 7 Option A is correct Explanation
• The Central Bureau of Investigation (CBI) is the investigating police agency in India
• It came into existence on 1 April 1963, through a Government of India resolution.
• The establishment of the CBI was by the Santhanam Committee on Prevention of Corruption (1962-64).
Hence, statement 2 is correct.
• CBI must mandatorily obtain the consent of The state government concerned before beginning to investigate a crime in a state. Hence, statement 1 is incorrect.

Q8. Consider the following statements regarding Picoflare Jets

1. They have enough energy to power a considerable fraction of the solar wind.
2. They are named so because they carry approximately one-tenth the energy of the largest flares the sun is capable of producing.

Which of the statements given above is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Show solution

Solution: Option A.)

Ans. 8 Option A is the correct Explanation
• The researchers studying the findings of the Solar Orbiter Aircraft recently announced that they detected pico flare jets from the sun’s outer atmosphere.
• These small-scale pico flare jets were observed within emissions from the coronal hole under observation.
• They lasted only a few dozen seconds and were emerging at a supersonic speed.
• The researchers calculated that they had enough energy to power a considerable fraction of the solar wind. Hence, statement 1 is correct.
• They are named so because they carry approximately one-trillionth the energy of the largest flares the sun is capable of
producing. Hence, statement 2 is incorrect.

Q9. Consider the following statements regarding the Food Price Index

1. It measures the annual change in international prices of a basket of food commodities.
2. It was launched by the Food and Agriculture Organization (FAO).

Which of the statements given above is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Show solution

Solution: Option B.)

Ans. 9 Option B is correct Explanation
• FAO’s Food Price Index was introduced in 1996 as a public good to help in monitoring developments in the global agricultural commodity markets. Hence, statement 2 is correct.
• The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities. Hence, statement 1 is incorrect.
• It measures changes in a basket of cereals, oilseeds, dairy products, meat, and sugar.
• Base Period: 2014-16.

Q10. Consider the following statements regarding Gresham’s Law
1. It is a principle that states that “bad money drives out good”.
2. The law is applicable to paper currencies only.
3. The law came into play most recently during the economic crisis in Sri Lanka last year.

How many of the statements given above is/are correct?
A. Only one
B. Only two
C. All three
D. None

Show solution

Solution: Option B.)

Ans. 10 Option B is correct Explanation
• Gresham’s law refers to the dictum that “bad money drives out good.” Hence, statement 1 is correct.
• It is named after English financier Thomas Gresham who advised the English monarchy on financial matters.
• It comes into play when the exchange rate between two currencies is fixed by the government at a certain ratio different from the market exchange rate.
• It applies to paper currencies along with commodity currencies and other goods. Hence, statement 2 is incorrect.
• The law came into play most recently during the economic crisis in Sri Lanka last year. Hence, statement 3 is correct.
• The law holds true only when the exchange rate between currencies is fixed by the government and it is implemented effectively by authorities.