Daily Quiz 09 April 2025
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Question 1 of 5
1. Question
1 pointsConsider the following statements with reference to Gold Monetization Scheme:
1. It was launched to make idle gold productive, by getting consumers to either sell their gold or store it with banks.
2. Short-term deposits under the Gold Monetisation Scheme (GMS) have been discontinued by the Government with effect from 2025.
Which of the statements given above is/are correct?Correct
Answer: A
Explanation:
- Statement 1 is correct: The Gold Monetisation Scheme, a revamped version of an older Gold Deposit Scheme, was launched in November 2015 to make idle gold productive, by getting consumers to either sell their gold or store it with banks, so it could merge into the formal economy and reduce the country’s gold imports and thus, reduce the current account deficit.
- The GMS consisted of three components: (1) Short Term Bank Deposit (1-3 years); (2) Medium Term Government Deposit (5-7 years); and (3) Long-Term Government Deposit (12-15 years).
Statement 2 is not correct: The government has decided to discontinue medium-term and long-term deposits under the Gold Monetisation Scheme (GMS) citing evolving market conditions and performance of the scheme. Short-term bank deposits by banks under GMS will continue at the discretion of individual banks based on the commercial viability as assessed by them.
Incorrect
Answer: A
Explanation:
- Statement 1 is correct: The Gold Monetisation Scheme, a revamped version of an older Gold Deposit Scheme, was launched in November 2015 to make idle gold productive, by getting consumers to either sell their gold or store it with banks, so it could merge into the formal economy and reduce the country’s gold imports and thus, reduce the current account deficit.
- The GMS consisted of three components: (1) Short Term Bank Deposit (1-3 years); (2) Medium Term Government Deposit (5-7 years); and (3) Long-Term Government Deposit (12-15 years).
Statement 2 is not correct: The government has decided to discontinue medium-term and long-term deposits under the Gold Monetisation Scheme (GMS) citing evolving market conditions and performance of the scheme. Short-term bank deposits by banks under GMS will continue at the discretion of individual banks based on the commercial viability as assessed by them.
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Question 2 of 5
2. Question
1 pointsWith reference to criteria for classifying Micro, small and medium enterprises (MSMEs), consider the following statements:
- MSMEs with investments up to 5 crore rupees will now be classified as micro-enterprises.
- MSMEs with investments up to 125 crore rupees will now be classified as medium enterprises, from the earlier limit of 50 crore rupees.
Which of the statements given above is/are correct?
Correct
Answer: B
Explanation:
- Statement 1 is not correct: The government has notified significant revisions to turnover and investment criteria for classifying MSMEs that will take effect from April 1. Micro, small and medium enterprises (MSMEs) with investments up to 2.5 crore rupees will now be classified as micro-enterprises, from the previous threshold of 1 crore rupees. The turnover limit has been revised from 5 crore rupees to 10 crore rupees.
- Units with investments up to 25 crore rupees will be classified as small enterprises, from the earlier 10 crore rupees. The turnover limit for such enterprises has been doubled from 50 crore rupees to 100 crore rupees.
Statement 2 is correct: MSMEs with investments up to 125 crore rupees will now be classified as medium enterprises, from the earlier limit of 50 crore rupees. For medium enterprises, the turnover limit has been doubled to 500 crore rupees.
Incorrect
Answer: B
Explanation:
- Statement 1 is not correct: The government has notified significant revisions to turnover and investment criteria for classifying MSMEs that will take effect from April 1. Micro, small and medium enterprises (MSMEs) with investments up to 2.5 crore rupees will now be classified as micro-enterprises, from the previous threshold of 1 crore rupees. The turnover limit has been revised from 5 crore rupees to 10 crore rupees.
- Units with investments up to 25 crore rupees will be classified as small enterprises, from the earlier 10 crore rupees. The turnover limit for such enterprises has been doubled from 50 crore rupees to 100 crore rupees.
Statement 2 is correct: MSMEs with investments up to 125 crore rupees will now be classified as medium enterprises, from the earlier limit of 50 crore rupees. For medium enterprises, the turnover limit has been doubled to 500 crore rupees.
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Question 3 of 5
3. Question
1 pointsConsider the following countries:
- Bulgaria
- Romania
- Georgia
- Armenia
- Turkey
How many of the above countries have a coastline along the Black Sea?
Correct
Answer: C
Explanation:
- Option C is correct: The Black Sea is the largest inland body of water and is also the largest meromictic basin, which means the movement of water between the lower and upper layers of the Sea is rare. This creates considerable temperature and nutrient differences between these layers, with the lower layers being absolutely free of oxygen and anoxic. This complex water chemistry is fueled by extensive freshwater inputs from multiple large rivers and rainfall, with salt water exchanges with the Aegean Sea only through the Bosphorus and Dardanelles Strait.
It is bordered by Ukraine to the north, Russia to the northeast, Georgia to the east, Turkey to the south, and Bulgaria and Romania to the west. It is not bordered by Armenia.
Incorrect
Answer: C
Explanation:
- Option C is correct: The Black Sea is the largest inland body of water and is also the largest meromictic basin, which means the movement of water between the lower and upper layers of the Sea is rare. This creates considerable temperature and nutrient differences between these layers, with the lower layers being absolutely free of oxygen and anoxic. This complex water chemistry is fueled by extensive freshwater inputs from multiple large rivers and rainfall, with salt water exchanges with the Aegean Sea only through the Bosphorus and Dardanelles Strait.
It is bordered by Ukraine to the north, Russia to the northeast, Georgia to the east, Turkey to the south, and Bulgaria and Romania to the west. It is not bordered by Armenia.
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Question 4 of 5
4. Question
1 pointsConsider the following statements with reference to ‘Blue Flag’ tag:
- It is a voluntary tag given to environment-friendly and clean beaches with hygienic facilities.
- It is accord by the United Nations Environment Programme (UNEP).
- Rushikonda Beach in Visakhapatnam is the only Blue Flag beach in Andhra Pradesh.
How many of the above statements are correct?
Correct
Answer: B
Explanation:
- Statement 1 is correct and statement 2 is not correct: The Blue Flag is a voluntary tag given to environment-friendly and clean beaches with hygienic facilities. The tag is part of an eco-tourism model that promotes sustainability in the tourism sector through environmental awareness, protection and sustainable development practices. It is accorded by Denmark-based non-profit Foundation for Environmental Education, or FEE, as part of its Blue Flag Programme.
- Statement 3 is correct: Rushikonda Beach in Visakhapatnam is the only Blue Flag beach in Andhra Pradesh and is among the 13 Blue Flag beaches in India. Foreign tourists browse the Internet for the Blue Flag as it assures them of safety, security, cleanliness, amenities for bathing, changing and recreation, and above all, a concern for the environment through education.
Incorrect
Answer: B
Explanation:
- Statement 1 is correct and statement 2 is not correct: The Blue Flag is a voluntary tag given to environment-friendly and clean beaches with hygienic facilities. The tag is part of an eco-tourism model that promotes sustainability in the tourism sector through environmental awareness, protection and sustainable development practices. It is accorded by Denmark-based non-profit Foundation for Environmental Education, or FEE, as part of its Blue Flag Programme.
- Statement 3 is correct: Rushikonda Beach in Visakhapatnam is the only Blue Flag beach in Andhra Pradesh and is among the 13 Blue Flag beaches in India. Foreign tourists browse the Internet for the Blue Flag as it assures them of safety, security, cleanliness, amenities for bathing, changing and recreation, and above all, a concern for the environment through education.
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Question 5 of 5
5. Question
1 pointsWhich of the following features are associated with BHIM 3.0?
- Works in Low Internet Areas
- Splitting of bill among people
- Tracking shared expenses of family
Select the correct answer using the code given below:
Correct
Answer: D
Explanation:
- Option D is correct: BHIM 3.0 represents its third evolution since its launch in 2016. The new BHIM 3.0 app offers customer friendly and more intuitive experience. BHIM 3.0 now offers:
- More Languages – Available in 15+ Indian languages for better accessibility
- Works in Low Internet Areas – Optimised to ensure seamless transactions even with slow or unstable network connections
- Better Money Management – Advanced tools to track, manage, and split expenses with Ease
- Split Expenses – Users can now split bills with friends and family seamlessly. Whether it’s dining out, rent payments, or group purchases, the BHIM app allows users to divide expenses and make payments directly, ensuring hassle-free settlements.
Family Mode – Users can now onboard family members, track shared expenses, and assign specific payments. This feature enables better financial planning by giving families a consolidated view of their expenses.
Incorrect
Answer: D
Explanation:
- Option D is correct: BHIM 3.0 represents its third evolution since its launch in 2016. The new BHIM 3.0 app offers customer friendly and more intuitive experience. BHIM 3.0 now offers:
- More Languages – Available in 15+ Indian languages for better accessibility
- Works in Low Internet Areas – Optimised to ensure seamless transactions even with slow or unstable network connections
- Better Money Management – Advanced tools to track, manage, and split expenses with Ease
- Split Expenses – Users can now split bills with friends and family seamlessly. Whether it’s dining out, rent payments, or group purchases, the BHIM app allows users to divide expenses and make payments directly, ensuring hassle-free settlements.
Family Mode – Users can now onboard family members, track shared expenses, and assign specific payments. This feature enables better financial planning by giving families a consolidated view of their expenses.
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