Q1. Which of the following are the factors considered behind the market determined exchange rates:
1) Net foreign currency inflows
2) Growth rate of the economy
3) Commodity dependence of the economy on global supplies
4) Forex reserves
Answer Option: All
1. Markets decide the exchange rate based on a variety of factors like: o Net foreign currency inflows o Commodity dependence of the country on global supplies o Forex reserves o Growth rate of the economy If these factors are favourable, the currency strengthens
Q2. Core Inflation does not indicate a price rise in which of these commodities:
1) Consumer goods
2) Hydrocarbon fuel
3) Food products
4) IT products
Answer Option (2, 3, 4)
1. Core Inflation is also known as underlying inflation, is a measure of inflation which excludes items that face volatile price movement, notably food and energy. o In other words, Core Inflation is nothing but Headline Inflation minus inflation that is contributed by food and energy commodities.
Q3. Which of the following statements about Monetary Policy Framework Agreement is correct
A. It is an agreement between Government and Reserve Bank of India (RBI) on the maximum tolerable inflation rate that RBI should target to achieve price stability.
B. It is an agreement between Government and Reserve Bank of India (RBI) on the minimum inflation rate that RBI should target to achieve growth.
C. It is an agreement between Banks and Reserve Bank of India (RBI) to ensure that the changes in the Interest rates are passed on to the customers
D. Both b and c
Answer Option: A
1. Monetary Policy Framework Agreement is an agreement reached between Government and the central bank in India – The Reserve Bank of India (RBI) - on the maximum tolerable inflation rate that RBI should target to achieve price stability. o The Reserve Bank of India and Government of India signed the Monetary Policy Framework Agreement on 20 February 2015 which made inflation targeting and achieving price stability the responsibilities of RBI. o Subsequently, the government, while unveiling the Union Budget for 2016-17 in the Parliament, proposed to amend the Reserve Bank of India (RBI) Act, 1934 for giving a statutory backing to the aforementioned Monetary Policy Framework Agreement and for setting up a Monetary Policy Committee (MPC).
Q4. The countries identified as megadiverse by Conservation International are:
4) South Africa
Answer Option: (1, 2, 4)
1. The term megadiverse country refers to any one of a group of nations that harbor the majority of Earth's species and high numbers of endemic species. o Conservation International identified 17 megadiverse countries in 1998. o Many of them are located in, or partially in, tropical or subtropical regions. o They are: Australia, Brazil, China, Colombia, Democratic Republic of the Congo, Ecuador, India, Indonesia, Madagascar, Malaysia, Mexico, Papua New Guinea, Peru, Philippines, South Africa, United States, Venezuela
Q5. The nationalisation of banks was a watershed moment in the history of Indian banking. It coincided with:
A. Founding of the Reserve Bank of India (RBI)
B. Announcement of the first Industrial Policy
C. Founding of NABARD
D. None of the above
Answer Option: D
1. The nationalisation of banks in 1969 was a watershed moment in the history of Indian banking. RBI was set up in 1935 under the Reserve Bank of India Act,1934. o The National Bank for Agriculture and Rural Development (NABARD) was constituted in 1982 to regulate and supervise the functions of cooperative banks and RRBs. Industrial Policy Resolution of 1956 (IPR 1956) is a resolution adopted by the Indian Parliament in April 1956. o It was the first comprehensive statement on industrial development of India.
Q6. Edge computing enables data to be analysed, processed, and transferred at the edge of a network. Here ‘Edge’ implies:
C. Cloud computing
Answer Option: D
1. According to a research, By 2025, companies will generate and process more than 75% of their data outside of traditional centralised data centres — that is, at the “edge” of the cloud. o As the use of Internet of Things (IoT) devices expands and the need to process IoT data quickly increases, many IT leaders are considering or beginning to employ edge computing options. o What is edge computing? o Edge computing enables data to be analysed, processed, and transferred at the edge of a network. o Meaning, the data is analysed locally, closer to where it is stored, in real-time without latency, rather than send it far away to a centralised data centre. o It allows for quicker data processing and content delivery.
Q7. Consider the following statements regarding The Bay of Bengal Initiative for Multi- Sectoral Technical and Economic Cooperation (BIMSTEC):
1) It comprises of eight Member States lying in the littoral and adjacent areas of the Bay of Bengal.
2) It came into being through the Bangkok Declaration.
3) It is an implicit free trade agreement among the member nations.
Which of the above statements is/are incorrect:
Answer Option: (1, 3)
1. Retail inflation had surged to a 40-month high of 5.54% in November 2019, driven by rising food inflation. o This combination of contraction in industrial activity and rising inflation has led experts to fear that India is entering a phase of stagflation (a situation in which there is persistent high inflation combined with stagnant or declining demand)
Q8. Generation AI (artificial intelligence) is the initiative of:
A. Global Artificial Intelligence network
C. International Telecommunication Union
D. World Bank Group
Answer Option B
1. UNICEF’s Generation AI initiative is currently working with the World Economic Forum’s Centre for the Fourth Industrial Revolution and other stakeholders to realiae the potential of AI for children in a safe and transparent way.
Q9. Consider the following statements regarding Convention on the Rights of the Child:
1) It is a legally-binding international agreement setting out the civil, political, economic, social and cultural rights of every child.
2) Governments are required to meet children’s basic needs and help them reach their full potential
Answer Option: All
1. The United Nations Convention on the Rights of the Child (UNCRC) is a legally-binding international agreement setting out the civil, political, economic, social and cultural rights of every child, regardless of their race, religion or abilities. o Under the terms of the convention, governments are required to meet children’s basic needs and help them reach their full potential. o The Convention on the Rights of the Child urges all public and private actors to act in the best interests of the child, across all their developmental activities and provision of services.
Q10. Contributing to one world, one health: a strategic framework for reducing risks of infectious diseases at the animal–human–ecosystems interface, is a global initiative of:
A. Food and Agriculture Organization
B. World Health Organization
C. United Nations Environment Programme
D. All of the above
Answer Option: D
1. India’s ‘One Health’ vision derives its blueprint from the agreement between the tripartite-plus alliance comprising the Food and Agriculture Organization of the United Nations (FAO), the World Organisation for Animal Health (OIE), the World Health Organization (WHO) and the United Nations Environment Programme (UNEP) — a global initiative supported by the United Nations Children’s Fund (UNICEF) and the World Bank under the overarching goal of contributing to ‘One World, One Health’.