Daily Current Affairs for UPSC – 19 May 2023

Daily Current Affairs for UPSC 2023

Q) Recently seen in news, the Kiru hydro-electric power project is built over which one of the following rivers?

1. Mahanadi
2. Jhelum
3. Chenab
4. Brahmaputra

Daily Current Affairs for UPSC – 18 May April 2023

Explanation:

• Option (3) is correct: Kiru hydro-electric power project is a run-of-river project proposed on Chenab River in district of Kishtwar of Union Territory of Jammu and Kashmir. The project includes construction of 135 m high concrete gravity Dam and an underground Powerhouse with 4 units of 156 MW each. The project will be implemented by Chenab Valley Power Projects Limited, which is a joint venture of the National Hydropower Company and Jammu and Kashmir State Power Development Corporation (JKSPDC). The CBI is conducting investigations regarding allegations of corruption in Kiru hydro-electric power project in Jammu and Kashmir.

Q) Consider the following statements about National Quantum Mission:

1. Under the mission, magnetometers with high sensitivity will be developed for navigation.
2. It helps in satellite-based quantum communications over a range of 2000 kilometres within India.
3. A thematic hub will be made for the development of quantum materials.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Explanation:

• Statements 1 and 2 are correct: National Quantum Mission (NQM) will be implemented by the Department of Science & Technology (DST) under the Ministry of Science & Technology from 2023 to 2031 with an outlay of ₹6,003 crores. The mission targets developing of satellite-based secure quantum communications between ground stations over a range of 2000 kilometers within India. The mission will help develop magnetometers with high sensitivity for precision timing (atomic clocks), communications, and navigation.
• Statement 3 is correct: National Quantum Mission (NQM) will also support design and synthesis of quantum materials such as superconductors, novel semiconductor structures and topological materials for fabrication of quantum devices. Four Thematic Hubs (T-Hubs) would be set up in top academic and National R&D institutes on the domains of Quantum Technology such as Quantum computation, Quantum communication, Quantum Sensing & Metrology, Quantum Materials and Devices.

Q) With reference to Green Deposits, consider the following statements:

1. They are comparable to ordinary deposits that banks accept.
2. The money deposited in green deposits can be denominated in both rupees and dollars.
3. Recently, the Ministry of Finance developed a regulatory framework for banks to accept green deposits from customers.

Which of the statements given above is/are correct?

1. 1 only
2. 1 and 2 only
3. 2 and 3 only
4. 1, 2 and 3

Explanation:

• Statement 1 is correct: Green deposits are similar toregular deposits accepted by banks. The major difference with green deposits is that banks promises to earmark the money obtained through these deposits towards environmentally-friendly projects. Green deposit is one such product in a wide range of other financial products such as green bonds, green shares, etc., that puts investors’ money into environmentally sustainable projects. For example, a bank may promise to invest green deposit money towards financing renewable energy projects that tackle climate change or may also avoid investing the same money in fossil fuel projects that harm the climate.
• Statements 2 and 3 are incorrect: A regulatory framework has been developed by Reserve Bank of India for banks to accept green deposits from customers. RBI has provided a list of sectors that can be considered as sustainable and thus eligible to receive green deposits. Some of these sectors include renewable energy, clean transportation, energy efficiency, waste management, afforestation, management of living natural resources, and biodiversity conservation. Banks will not be allowed to invest green deposit money into business projects involving fossil fuels, nuclear power, gambling, palm oil, tobacco, and hydropower generation. The money deposited in green deposits will be denominated in rupees only. Money can be withdrawn after maturity.

Q) Consider the following statements about the Group of seven (G7):

1. The G7 is an informal group of emerging and developing countries.
2. The G7 meets annually to discuss issues of global energy policy.
3. The recent G7 Summit is being hosted by Indonesia.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 only
3. 1 and 3 only
4. 1, 2 and 3

Explanation:

• Statement 1 is incorrect but Statement 2 is correct: The G7 is an informal group of leading industrialized nations. G7 meets annually to discuss issues of global economic governance, international security, and energy policy. Canada, France, Germany, Italy, Japan, the United Kingdom and the United States are its members. The European Union has participated fully in the G7 since 1981 as a “non-enumerated” member. Russia joined to form the G-8 in 1998 but was expelled after Moscow’s 2014 annexation of Crimea.
• Statement 3 is incorrect: The 49^th G7 Summit is being hosted by Japan in Hiroshima. On August 6, 1945, the US had dropped an atomic bomb on Hiroshima, Japan. The leaders of Australia, Brazil, Comoros, Cook Islands, India, Indonesia, South Korea and Vietnam are invited in the Summit. The broad agenda of the G7 meeting will be nuclear disarmament, economic resilience, Russia- Ukraine War, economic security, regional issues, climate change, energy security, food and health.

Q) Consider the following statements about United Nations High Commissioner for Refugees(UNHCR):

1. UNHCR was created in 1945 to address the post-World War II refugee crisis.
2. It is governed by the United Nations Security Council.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Explanation:

• Statement 1 and 2 are incorrect: United Nations High Commissioner for Refugees(UNHCR) was established in 1950, to deal with the post-World War II refugee situation. UNHCR is also known as the UN Refugee Agency. It is a global organization dedicated to saving lives and protecting the rights of refugees. UN Refugee Agency is governed by the UN General Assembly and the Economic and Social Council (ECOSOC). The United Nations High Commissioner for Refugees is an organization tasked with leading and coordinating international action to protect refugees and address refugee issues across the world. It is headquartered at Geneva, Switzerland. Recent report said that India is not allowing exit permissions for Rohingya refugees who have completed refugee status determinations with the UN Refugee Agency (UNHCR).

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