0 UPSC EXAM ENGLISH QUIZ 09.12.2024 Daily Quiz 1 / 5 Q1. Consider the following statements: 1. The 52nd meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) kept the key policy rates unchanged. 2. The repo rate was kept steady at 6.50%, while the cash reserve ratio (CRR) was cut by 50 basis points to 3%. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: The 52nd meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) kept the key policy rates unchanged. The repo rate was kept steady at 6.50%, while the cash reserve ratio (CRR) was cut by 50 basis points to 4%. Key Points of RBI MPC Meeting (December 2024) Repo Rate: The repo rate was kept steady at 5%, which has remained unchanged since February 2023. This is the 11th consecutive time that interest rates have not been changed. CRR Cut: The cash reserve ratio (CRR) was reduced by 50 basis points i.e. from 50% to 4%, which will help banks with additional cash flow. Inflation Impact: RBI predicted inflation to rise, which could have a negative impact on economic growth. For this reason, the GDP growth rate has been reduced by 2% to 6.6% for FY25. 2 / 5 Q2. Consider the following statements: 1. The effect of “lake-effect snow” was observed in the areas around the Great Lakes of North America, such as New York, Pennsylvania, Ohio and Michigan. 2. The phenomenon was caused by a heavy snowstorm near Lake Erie in New York, turning houses into snow-covered “igloos”. 3. Lake-effect snow is a local weather phenomenon in which heavy snowfall occurs due to the interaction of warm waters of large lakes and cold air. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: The effect of “lake-effect snow” was observed in the areas around the Great Lakes of North America, such as New York, Pennsylvania, Ohio and Michigan. The phenomenon was caused by a heavy snowstorm near Lake Erie in New York, turning houses into snow-covered “igloos”. Lake-effect snow Lake-effect snow is a local weather phenomenon in which heavy snowfall occurs due to the interaction of warm waters of large lakes and cold air. Major regions This phenomenon is mainly observed in the areas around the Great Lakes of the US, such as New York, Michigan, Ohio and Pennsylvania. 3 / 5 Q3. Consider the following statements: 1. A total of 25 projects worth Rs 4857.11 crore were approved under the PM-DEVINE Scheme, including seven projects announced in the Budget for the financial year 2022-23. 2. PM-DIVINE is a Central Sector Scheme introduced in the Union Budget 2022-23 with the objective of promoting rapid and holistic development in the North Eastern Region (NER). Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: A total of 35 projects worth Rs 4857.11 crore were approved under the PM-DEVINE Scheme, including seven projects announced in the Budget for the financial year 2022-23. PM-DEVINE Scheme PM-DIVINE: PM-DIVINE is a Central Sector Scheme introduced in the Union Budget 2022-23 with the objective of promoting rapid and holistic development in the North Eastern Region (NER). The scheme was approved by the Cabinet on October 12, 2022, with a total financial outlay of Rs 6600 crore for the period from 2022-23 to 2025-26. • Implementation: The scheme is implemented by the Ministry of Development of North Eastern Region (MDoNER) to meet region-specific developmental needs, ensure efficient use of resources and coordinated project execution. Infrastructure Development: In line with the objectives of the scheme, a total of 17 projects costing Rs 2806.65 crore have been sanctioned for the North Eastern Region. 4 / 5 Q4. Consider the following statements: 1. Indira Gandhi Prize for Peace, Disarmament, and Development 2024 will be honoured to former Chilean President Veronica Michelle Bachelet Jeria. 2. This decision was taken by the jury headed by former National Security Advisor and former Foreign Secretary Shivshankar Menon. 3. She is one of the world's most prominent voices for human rights, peace and equality. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Indira Gandhi Prize for Peace, Disarmament, and Development 2024 will be honoured to former Chilean President Veronica Michelle Bachelet Jeria. This decision was taken by the jury headed by former National Security Advisor and former Foreign Secretary Shivshankar Menon. She is one of the world's most prominent voices for human rights, peace and equality. In her various roles as founding director of UN Women, UN High Commissioner for Human Rights, and President of Chile, she has championed gender equality and the rights of the most vulnerable segments of the population at home and around the world. Michelle Bachelet has been honored for her steadfastness in promoting peace, gender equality, human rights, democracy and development even under challenging circumstances and for her contribution to strengthening India-Chile relations. During her two terms as President of Chile, from 2006 to 2010 and 2014 to 2018, she introduced significant education and tax reforms. From 2010 to 2013, Bachelet was the first director of UN Women, dedicated to advocating for the rights of women and girls. She later served as the UN High Commissioner for Human Rights from 2018 to 2022. The award is given to doctors, nurses, paramedics, and staff for their selfless service, unwavering dedication, and perseverance in the face of adversity. Named after one of the most notable leaders of the twentieth century, the award aims to honor women, men, and institutions who have done exemplary work in the service of humanity. Established in 1886, the award is given annually to individuals or organizations by the Indira Gandhi Memorial Trust. The award carries a cash prize of 2.5 million Indian rupees and a citation. 5 / 5 Q5. Consider the following statements: 1. Every year on 9 December, International Anti-Corruption Day is celebrated. 2. The theme of International Anti-Corruption Day 2024 is “Uniting with Youth Against Corruption: Shaping Tomorrow's Integrity.” Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Every year on 9 December, International Anti-Corruption Day is celebrated. The theme of International Anti-Corruption Day 2024 is “Uniting with Youth Against Corruption: Shaping Tomorrow's Integrity.” The United Nations Office on Drugs and Crime (UNODC) organizes annually international Anti-Corruption Day (IACD). The UN General Assembly adopted 9 December as International Anti-Corruption Day to raise awareness about corruption. This day is being celebrated every year since 2005. In 2003, UN General Assembly adopted the United Nations Convention against Corruption. The convention came into force in December 2005. India was ranked 93rd in the Global Corruption Index 2023. 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