Daily Quiz 8th June 2024

Explanation:
• Statement 1 is correct: The Rudram-II anti-radiation supersonic missile is developed by the DefenceResearch and Development Organisation (DRDO).
• Statement 2 is correct: RudraM-II Missile is an indigenously-developed solid-propelled air-launched missile system.
• Statement 3 is incorrect: It is meant for Air-to-Surface role to neutralise many types of enemy assets.
• It is designed to have a strike range of almost 350-km, from a Sukhoi-30MKI fighter of the IAF.
• It involves several state-of-the-art indigenous technologies developed by various DRDO laboratories that have been incorporated into the missile system.
• RudraM series missiles: The DRDO is developing these as new-generation anti-radiation missiles (NGARMs) for destroying a variety of enemy surveillance, communication, radars and command and control centers on the ground.
• The 150-km range RudraM-I missile, with INS-GPS navigation with a passive homing head for the final attack, was first tested in Oct 2020.
• The missiles are meant for suppression of enemy air defences (SEAD) from long stand-off ranges, which in turn will enable IAF strike aircraft to carry out bombing missions without hindrance.

Explanation:
• Statement 1 is incorrect: Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme was launched by the Ministry of Housing and Urban Affairs on 25th June 2015, in 500 selected cities and towns across the country.
• Statement 2 is incorrect: The mission is being operated as a Central Sponsored Scheme.
• Aim: To provide basic urban infrastructure to improve the quality of life in cities and towns.
• Objectives:
o Ensure that every household has access to a tap with an assured water supply and a sewerage connection.
o Increase the green areas in the cities.
o Statement 3 is correct: Reduce pollution by promoting public transport and constructing facilities for non-motorized transport.
• Funding: It is divided among States/UTs in an equitable formula in which 50:50 weightage.
• The Mission covers 500 cities including all cities and towns with a population of over one lakh with notified Municipalities.
• Revenue Set Aside for the Scheme:
o AMRUT 1.0: Total outlay was ₹50,000 crore for five years from FY 2015-16 to FY 2019-20.
o AMRUT 2.0: Total outlay is ₹2,99,000 crore, with a central outlay of ₹76,760 crore for five years, starting from October 1, 2021.

Explanation:
• Evergreening of loans refers to a practice used by financial institutions to extend or renew existing loans to borrowers who are struggling to repay their debts.
• It involves granting additional funds or rolling over the outstanding debt, often with modified terms or conditions.
• This is done to create the appearance that the borrower is making timely repayments and maintaining a healthy credit profile.
• The evergreening of loans allows borrowers to maintain the illusion of ongoing financial stability by continuously obtaining new loans to cover existing obligations.
• Risks associated with evergreening of loans:
o Inflates the quality of the institution’s loan portfolio: This practice artificially inflates the quality of the institution’s loan portfolio and can mislead investors, regulators, and the public about its financial health.
o Can lead to a cycle of increasing debt: This approach may be seen as a short-term solution to prevent immediate defaults.
 However, it can lead to a cycle of increasing debt and further financial instability for both borrowers and lenders in the long run.
o Statement 3 is incorrect but Statement 4 is correct: Problematic for the overall stability of the financial system: Evergreening of loans can be problematic for the overall stability of the financial system.
 It can mask the true extent of bad loans in an economy, creating systemic risks and distorting the assessment of creditworthiness.
o Statement 1 is correct: Sign of misgovernance: This is purely misgovernance, so that bad loans are made to look good many a time by additional lending to troubled borrowers.
 It normally happens due to the unholy relationship between bankers and borrowers.
 The CBI had detected several cases of fund diversion by promoters of companies from loans advanced again and again by banks in the last couple of years.
o Statement 2 is correct: Contributes to the crowding-out effects: In India, there is evidence of a practice called indirect evergreening.
 This involves struggling companies borrowing money from weak banks through related parties, but instead of using the funds for productive investments, they increase their debt levels.
 This kind of activity is often overlooked and not easily detected.
 As a result, valuable resources are misallocated, which contributes to the crowding-out effects typically associated with financially vulnerable companies.

Explanation:
• The International Labour Organisation (ILO) has revised its global unemployment forecast for 2024, projecting a slight decrease to 4.9% from the previously estimated 5.2%, while highlighting the persistent inequalities in labor markets worldwide.
• The revision is mainly due to lower-than-expected unemployment rates in China, India, and high-income countries reported so far this year. Hence, Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.
• The downward trend in unemployment is expected to flatten in 2025, with the rate remaining at 4.9%.
• Despite the overall improvement, inequalities in labor markets persist, with women in low-income countries particularly affected.
• The report highlights that 183 million people are considered unemployed, while the number of those without a job but wanting to work stands at 402 million.
• The ILO is the United Nations agency for promoting social and economic justice through international labour standards.
• It was created in 1919, as part of the Treaty of Versailles that ended World War I and became a specialized agency of the United Nations in 1946.
• Based in Geneva, Switzerland, it has 187 member states(India is a founder member) and operates as a tripartite organization, bringing together governments, employers, and workers’ representatives.
• The ILO is also a member of the United Nations Development Group, aiming to achieve the Sustainable Development Goals.

Explanation:
• Statement 1 is incorrect: In a remarkable achievement, IIT Madras’ startup, Agnikul Cosmos, has launched the world’s first rocket with a single-piece three-dimensional (3D) printed engine.
• Statement 2 is correct: The rocket Agnibaan SOrTeD (SubOrbital Technological Demonstrator) is also India’s first semi-cryogenic engine-powered rocket launch that was completely designed and manufactured indigenously.
• It was also launched from India’s first privately developed launchpad called ‘Dhanush’ established by Agnikul at Sriharikota in Andhra Pradesh at 7.15 a.m. today.
• The test flight aims to demonstrate in-house and homegrown technologies, gather crucial flight data, and ensure the optimal functioning of systems for Agnikul’s orbital launch vehicle, the ‘Agnibaan’.
• The achievement motivates ISRO to support space startups and non-governmental entities for innovation and Atmanirbharata to create a vibrant space ecosystem in the country.
• Statement 3 is correct: Agnibaan is a two-stage rocket with a capacity to carry up to 300 kg to a height of 700 km. The rocket engines are powered by liquid oxygen or kerosene. It can access both low- and high-inclination orbits and is completely mobile, designed for accessing more than 10 launch ports, as per the company.