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Daily Current Affairs Prelims Quiz 03-07-2022 & 04-07-2022 - (Online Prelims Test)

1) Consider the following about Financial Services Institutional Bureau (FSIB):

  1. FSIB was constituted to replace Insolvency and Bankruptcy Board of India (IBBI).
  2. The FSIB will comprise a Chairperson nominated by the Central government.
  3. It will advise the government on formulation and enforcement of a code of conduct and ethics for whole-time directors of the state-run financial services institutions.

Which of the above statement(s) is/are correct?

  • a. 
  • b. 
  • c. 
  • d. 
Answer : c

Financial Services Institutional Bureau (FSIB)

  • The FSIB will replace the Banks Board Bureau (BBB).
  • FSIB will advise the government on a suitable performance appraisal system for whole-time directors and non-executive chairmen of the state-run financial services institutions.
  • It will build a data bank relating to the performance of public-sector banks (PSBs), FIs and insurance companies.
  • It will advise the government on “formulation and enforcement of a code of conduct and ethics for whole-time directors” in these institutions.
  • The FSIB will even help these state-run banks, FIs and insurers in developing business strategies and capital raising plans, etc.
  • The FSIB will comprise a chairperson nominated by the central government.
  • They are the secretaries of the departments of financial services and public enterprises; the chairman of the Insurance Regulatory and Development Authority of India; and a deputy governor of the Reserve Bank of India (RBI).
  • The government has also appointed three part-time members of the new entity (FSIB) who will be looking after affairs relating to PSBs and FIs.
  • FSIB shall be a professional body with autonomy in its affairs and shall have its own secretariat.

2) Consider the following statements about Kai (Red Weaver Ant):

  1. Kai’s are recognized as biological control agents in tropical crops.
  2. The Kai Chutney made out of this ants are rich in proteins, calcium, zinc, etc and are known to boost the immune system.
  3. The Kai Chutney made up of Kai Ants was recently granted Geographical Indication (GI) tag.

Which of the above statements are correct?

  • a. 
  • b. 
  • c. 
  • d. 
Answer : a

Kais (Red Weaver Ant)

  • In Odisha, scientists are now fine-tuning their research to make a presentation for the geographical indications (GI) registry of Kai Chutney.
  • The tribal healers also prepare medicinal oil by dipping the collected Kais in pure mustard oil.
  • The tribes of Mayurbhanj consume Kai chutney or soup to get rid of flu, common cold, whooping cough, to increase appetite, enhance vision
  • It also enhances eyesight naturally without corrective eye wear and to treat joints pain, stomach diseases, essentials for the development of a healthy brain and the nervous system.
  • Kais are bio-control agents. They are aggressive and prey on most arthropods entering their territory.
  • Due to their predatory habit, Kais are recognized as biological control agents in tropical crops as they are able to protect a variety of crops against many different insect pests.
  • In this way, they are utilized indirectly as an alternative to the chemical insecticides.

3) Consider the following statements about National Investigation Agency (NIA):

  1. The NIA was constituted in the wake of the 26/11 Mumbai terror attack in November 2008.
  2. The law under which the agency operates extends to the whole of India and also applies to Indian citizens outside the country.
  3. The Centre empowered the NIA to probe offences under the Narcotic Drugs and Psychotropic Substances Act that are connected to terror cases.

Which of the above statement(s) is/are correct?

  • a. 
  • b. 
  • c. 
  • d. 
Answer : d

National Investigation Agency

  • It is a central agency mandated to investigate all the offences affecting the sovereignty, security and integrity of India, friendly relations with foreign states.
  • The offences under the statutory laws enacted to implement international treaties, agreements, conventions and resolutions of the United Nations, its agencies and other international organisations.
  • These include terror acts and their possible links with crimes like smuggling of arms, drugs and fake Indian currency and infiltration from across the borders.
  • The agency has the power to search, seize, arrest and prosecute those involved in such offences.
  • In September 2020, the Centre empowered the NIA to also probe offences under the Narcotic Drugs and Psychotropic Substances Act that are connected to terror cases.
  • The law under which the agency operates extends to the whole of India and also applies to Indian citizens outside the country.

4) Consider the following statements about Mahuli group of temples:

  1. This famous group of temples, known as Dakshin Kashi, is located in Maharashtra.
  2. It comprises five temples belonging to 11th and 12th century CE .
  3. It was constructed in Panchayatana style of architecture.

Which of the above statements are correct?

  • a. 
  • b. 
  • c. 
  • d. 
Answer : a

Mahuli group of temples

  • The famous group of Mahuli temples are also known as Dakshin Kashi.
  • It comprises five temples belonging to 11th and 12th century CE in Hemadpanthi style of architecture .
  • It is located near Satara in Maharashtra.
  • Samadhis of great Maratha queens Rani Tarabai Bhosle and Rani Yesho Bai Bhosle are located in Mahuli (Satara).

5) What could be the possible impacts caused by the Space Tourism Industry?

  1. The current growth trend of the space tourism indicates a potential for the depletion of the ozone layer above the Arctic. 
  2. The black carbon (BC) soot that is emitted by the rockets retains more heat in the atmosphere.

Which of the above statement(s) is/are correct?

  • a. 
  • b. 
  • c. 
  • d. 
Answer : c

Impacts of space tourism

  • Unlike other sources of pollution, environmental damage caused by rockets is far greater, as they emit gaseous and solid chemicals directly into the upper atmosphere.
  • The space tourism’s current growth trends also indicate a potential for the depletion of the ozone layer above the Arctic.
  • This is because the pollutants from rocket fuel and heating caused by spacecraft returning to Earth, along with the debris caused by the flights are especially harmful to the ozone layer.
  • Black carbon (BC) soot that is emitted by rockets directly into the atmosphere have a far larger impact on the climate, as BC particles are almost 500 times more efficient at retaining heat.
  • The recovery of the ozone layer caused by the Montreal Protocol could be undermined.
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