1 UPSC EXAM ENGLISH QUIZ 14.12.2024 Daily Quiz 1 / 5 Q1. Consider the following statements: 1. World Solar Report 2024 was released by InternationalSolar Alliance (ISA). 2. According to the report, starting from 2.22 GW in 2000, this capacity has increased to 1,419 GW in 2023, achieving a compound annual growth rate (CAGR) of about 36%. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: World Solar Report 2024 was released by InternationalSolar Alliance (ISA). According to the report, starting from 1.22 GW in 2000, this capacity has increased to 1,419 GW in 2023, achieving a compound annual growth rate (CAGR) of about 36%. Today, solar capacity has become three-quarters of all renewable energy capacity additions worldwide. Key points of World Solar Report 2024 New solar technologies Quantum dot solar cells: Their efficiency has reached 18.1%, which can prove to be an effective way to capture solar energy and improve climate water harvesting technologies. Self-healing solar panels: Researchers are developing panels that will help increase their lifespan and reduce the maintenance of existing solar cells. Solar-based phyto-mining: This technology extracts precious metals from soil using solar energy, providing a sustainable alternative to traditional mining processes. 2 / 5 Q2. Consider the following statements: 1. A mutual fund is an investment vehicle in which money of several investors is pooled together and invested in a variety of assets such as shares, bonds and money market instruments. 2. Each investor gets units of the mutual fund in proportion to the investment made by him, which represents his investment. 3. AMC manages the investments of the mutual fund. It allocates the investor's money to various assets, takes buy and sell decisions, and monitors the performance of the mutual fund. 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: A mutual fund is an investment vehicle in which money of several investors is pooled together and invested in a variety of assets such as shares, bonds and money market instruments. Each investor gets units of the mutual fund in proportion to the investment made by him, which represents his investment. Structure of Mutual Funds The structure of a mutual fund consists of three major components Asset Management Company (AMC): The AMC manages the investments of the mutual fund. It allocates the investor's money to various assets, takes buy and sell decisions, and monitors the performance of the mutual fund. Trustee: The trustee's job is to ensure that the AMC acts in the best interest of the investors and all legal and regulatory requirements are followed. Investors: Investors are individuals who invest capital in mutual funds. Investors receive units in the mutual fund based on their investment amount and receive returns according to the investment. 3 / 5 Q3. Consider the following statements: 1. Reserve Bank of India (RBI) has decided to allow Small Finance Banks (SFBs) to raise pre-approved credit lines through the Unified Payments Interface (UPI). 2. This aims to enhance financial inclusion and expand formal credit, especially for 'new to credit' customers. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Reserve Bank of India (RBI) has decided to allow Small Finance Banks (SFBs) to raise pre-approved credit lines through the Unified Payments Interface (UPI). This aims to enhance financial inclusion and expand formal credit, especially for 'new to credit' customers. Note: In September 2023, the scope of UPI was expanded to allow pre-approved credit lines to be linked through UPI and used as a funding account by scheduled commercial banks.This, however, does not include payments banks, small finance banks (SFBs) and regional rural banks. Small Finance Banks SFBs are specialised financial institutions regulated by the RBI under the Banking Regulation Act, 1949. It was announced in the Union Budget 2014-15 to increase credit supply by using high technology and low-cost operations. It was set up based on the recommendations of the Nachiket Mor Committee. 4 / 5 Q4. Consider the following statements: 1. A growth of 3.5% have been recorded in India’s industrial output in October 2024. 2. India’s industrial output grew from 3.1% in September 2024 to three-month high level of 3.5% in October 2024. 3. In October 2024, manufacturing output grew 4.1% year-on-year. 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: A growth of 3.5% have been recorded in India’s industrial output in October 2024. India’s industrial output grew from 3.1% in September 2024 to three-month high level of 3.5% in October 2024. India’s Index of Industrial Production increased by 3.5% in October 2024. In October 2024, manufacturing output grew 4.1% year-on-year. Electricity generation grew 2% and mining output grew 0.9%. In the April-October 2024, industrial output (IIP) grew 4%. Within manufacturing sector, 18 of 23 industry groups recorded growth as against October 2023. “Manufacture of basic metals” (3.5%), “Manufacture of electrical equipment” (33.1%) and “Manufacture of coke and refined petroleum products” (5.6%) were largest contributors. Top 3 sectors contributing to overall IIP growth in October 2024 are primary goods, intermediate goods and consumer durables. Infrastructure/Construction goods grew by 4.0% in October 2024 over October 2023. Intermediate goods grew at 3.7% in October 2024 over October 2023. Consumer durables grew at 5.9% in October 2024 over October 2023. Capital goods grew at 3.1% in October 2024 over October 2023. Primary goods grew at 2.6% in October 2024 over October 2023. Consumer non-durables grew at 2.7% in October 2024. 5 / 5 Q5. Consider the following statements: 1. Donald Trump has been named ‘Person of the Year’ for 2024 by TIME magazine. 2. U.S. President-elect Donald Trump became the ‘Person of the Year’ for 2024 by TIME magazine. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: Donald Trump has been named ‘Person of the Year’ for 2024 by TIME magazine. U.S. President-elect Donald Trump became the ‘Person of the Year’ for 2024 by TIME magazine. He was also elected Time's Person of the Year in 2016 when he became President for the first time. Trump will be the first convicted criminal to take the presidential oath. Kamala Harris, Elon Musk, Benjamin Netanyahu and Kate, the Princess of Wales were also nominated for this honour. Taylor Swift was named Time Magazine's Person of the year in 2023. Your score is LinkedIn Facebook Twitter VKontakte Post navigation ALL EXAM QUIZ 14.12.2024 ALL EXAM QUIZ 16.12.2024
