Daily Current Affairs for UPSC - 10 October 2022

Daily Current Affairs for UPSC 2022

Q) Consider the following statements regarding the Central Bank Digital Currency

CBDC or digital rupee or e-rupee is the digital version of fiat currency issued by the RBI and is exchangeable one-to-one with the fiat currency.
The e-rupee would appear as liability on a commercial bank’s balance sheet and not that of central bank.

Which of these statements are correct?

2 only
Both 1 and 2
Neither 1 nor 2
1 only

Explanation:

What is CBDC?

CBDC or digital rupee or e-rupee is the digital version of fiat currency issued by the RBI and is exchangeable one-to-one with the fiat currency. (Statement 1 is correct)
- The currency can be accepted as a medium of payment, legal tender and a safe store of value.
The e-rupee would appear as liability on a central bank’s balance sheet and not that of commercial banks. (Statement 2 is not correct)

Q) Consider the following statements regarding the Haber-Bosch process

It is an artificial nitrogen fixation process, which converts hydrogen and nitrogen to ammonia.
It was developed it in the first decade of the 20th century and still the dominant way of producing cheap fertilizer and is at the heart of industrialized agriculture.
This process is extremely energy efficient and non-polluting.

Which of these statements are correct?

1 and 3 only
All of the above
1 and 2 only
2 and 3 only

Explanation:

The Haber-Bosch process

It is an artificial nitrogen fixation process, which converts hydrogen and nitrogen to ammonia. (Statement 1 is correct)
It was developed it in the first decade of the 20th century and still the dominant way of producing cheap fertilizer and is at the heart of industrialized agriculture. (Statement 2 is correct)
However, this process is extremely energy intensive and polluting. (Statement 3 is not correct)
This principle extends to most synthetic chemicals — where scientists try to create a natural substance, which is often circuitous and creates several unwanted toxic by-products.

Q) Consider the following statements regarding Graded Response Action Plan (GRAP)

GRAP is a set of emergency measures that kick in to prevent further deterioration of air quality once it reaches a certain threshold.
The GRAP was first notified in January 2017 by the Ministry of Environment, Forest and Climate Change (MoEFCC).
This was based on a plan that was ordered by the Supreme Court in November 2016.

Which of these statements are correct?

1 and 3 only
2 only
3 only
1 and 2 only

Explanation:

What is the Graded Response Action Plan (GRAP)?

About: GRAP is a set of emergency measures that kick in to prevent further deterioration of air quality once it reaches a certain threshold.
Origin:
- The GRAP was first notified in January 2017 by the Ministry of Environment, Forest and Climate Change (MoEFCC).
- This was based on a plan that was submitted by the Central Pollution Control Board (CPCB) in November 2016.
Implementation:
- According to the 2017 notification, the task of implementing the GRAP was with the now dissolved Environment Pollution (Prevention and Control) Authority for the NCR.
- From 2021 onwards, the GRAP is being implemented by the CAQM.
- The CAQM has constituted a sub-committee for the operationalization of the GRAP, which is required to meet frequently to issue orders to invoke the GRAP.

Q) Consider the following statements regarding Commission for Air Quality Management (CAQM)

It is a statutory body formed under the Commission for Air Quality Management in National Capital Region and Adjoining Areas, Act 2021.
The CAQM has replaced the Environment Pollution (Prevention and Control) Authority (EPCA) which was appointed by the SC in 1998 and had been active for 22 years.

Which of these statements are not correct?

Neither 1 nor 2
1 only
2 only
Both 1 and 2

Explanation:

About The Commission for Air Quality Management (CAQM)

Establishment:
- It is a statutory body formed under the Commission for Air Quality Management in National Capital Region and Adjoining Areas, Act 2021. (Statement 1 is correct)
- The CAQM has replaced the Environment Pollution (Prevention and Control) Authority (EPCA) which was appointed by the SC in 1998 and had been active for 22 years. (Statement 2 is correct)
Objective: The Commission basically aims at better coordination, research, identification, and resolution of problems related to air quality in NCR and adjoining areas.
Jurisdiction: Over the NCR, including areas in Haryana, Punjab, Uttar Pradesh and Rajasthan
Parent authority: The Ministry of Environment, Forests and Climate Change.

Q) Consider the following statements regarding Social Stock Exchange

A social stock exchange is meant to serve the private and non-profit sectors by helping them to raise capital.
Only not-for-profit social enterprises can be listed on the Social Stock Exchange. They will be regulated by SEBI.

Which of these statements are not correct?

2 only
Neither 1 nor 2
Both 1 and 2
1 only

Explanation:

About Social Stock Exchange:

A social stock exchange is meant to serve the private and non-profit sectors by helping them to raise capital. (Statement 1 is correct)
Working:
- Listing: For-profit and not-for-profit social enterprises can be listed on the Social Stock Exchange. They will be regulated by SEBI. (Statement 2 is not correct)
- Issuing bonds: Not-for-profit entities will be eligible to directly issue zero-coupon or zero-principal bonds, social/development impact funds or mutual funds, through the platform.
- For-profit entities may raise funds through equity, debt, development impact bonds, or social venture funds.

Q) Consider the following statements regarding the Election Commission of India

It is a permanent, autonomous, quasi-judicial and statutory body created under Representation of People Act, 1950.
It is the supreme body vested with powers of supervision, control and direction over all aspects of electoral governance in the country.

Which of these statements are correct?

1 only
Neither 1 or 2
2 only
Both 1 and 2

Explanation:

Election Commission of India

It is a permanent, autonomous, quasi-judicial and constitutional body created under Article 324 in part 15 of the constitution. (Statement 1 is not correct)
It is the supreme body vested with powers of supervision, control and direction over all aspects of electoral governance in the country. (Statement 2 is correct)

Q) Recently in news, Foreign Direct Product Rule (FDPR) relates to which of the following?

Investment Model
Import regulation
Technology Control
None of the above

Explanation:

Context: The USA is planning to use foreign direct product rule, or FDPR, to contain China’s advanced computing and supercomputer industry.

About FDPR

The rule states that if a product was made using American technology, the US government has the power to stop it from being sold.
The rule allows US regulators to extend their technology export control powers far beyond America’s borders. It is applicable even if the product is made in another country.

Q) Consider the following statements regarding Primary Agricultural Credit Societies (PACS)

A Primary Agricultural Credit Society (PACS) is the smallest co-operative credit institution in the country. It works on the village level (gram panchayat)
PACS encourage agriculturists to save, accepts deposits from them, makes loans to deserving borrowers, and collects repayments.
It is regulated and controlled by the Ministry of Finance.

Which of these statements are correct?

1 and 3 only
2 only
3 only
1 and 2 only

Explanation:

Context: Union Cooperation Minister has announced setting up of primary agricultural credit societies (PACS) in all panchayats of the country. (Statement 3 is not correct)

About PACS

A Primary Agricultural Credit Society (PACS) is the smallest co-operative credit institution in the country. It works on the village level (gram panchayat). (Statement 1 is correct)
PACS encourage agriculturists to save, accepts deposits from them, makes loans to deserving borrowers, and collects repayments. (Statement 2 is correct)
- They will be allowed to carry out activities like sale of gas and petrol and storage and marketing of dairy and farm products, in future.

Q) Recently in news, Asola Bhatti Wildlife Sanctuary is located in which of the following places?

Uttar Pradesh
Delhi
Rajasthan
Punjab

Explanation:

Context: A study has confirmed the presence of eight leopards in the Asola Bhatti Wildlife Sanctuary, an indicator of its thriving ecosystem.

About the Asola Bhatti Wildlife Sanctuary

Location:
It is situated in the Southern Delhi Ridge of Aravalli hill range on Delhi-Haryana border.
It forms a part of the Northern Aravalli leopard wildlife corridor.
Climate: Monsoon type with dry winters (Koppen, Cwg)
Vegetation: Tropical thorn forests.
Important fauna:
Important animals: Leopard, Nilgai, Blackbuck, Black-naped hare, Indian crested porcupine, Small Indian civet, Golden jackal and Jungle cat.
Important bird species: Red-headed vulture, Egyptian vulture, and Black francolin

Q) Consider the statements regarding Amazon Forest

It is the largest rainforest in the world and covers almost 1.4 billion acres of area (covers most of the Amazon basin of South America.)
Its home to more than 30 million people and one in hundred known species on Earth.

Which of these statements are correct?

2 only
Both 1 and 2
Neither 1 nor 2
1 only

Explanation:

About Amazon Forest

It is the largest rainforest in the world and covers almost 1.4 billion acres of area (covers most of the Amazon basin of South America.) (Statement 1 is correct)
Its home to more than 30 million people and one in ten known species on Earth. (Statement 2 is not correct)
Most of the forest is contained within Brazil, with 60% of the rainforest, followed by Peru with 13%, Colombia with 10%, and with minor amounts in Bolivia, Ecuador, French Guiana, Guyana, Suriname, and Venezuela.