Current Affairs MCQs for UPSC & State PSC Exams (03 June 2023)

Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams

Date: 03 June 2023

1. Mangaluru, Chandikhol and Padur region often seen in news is related to which of the following?

(a) Lithium deposit sites
(b) Gold reserve sites
(c) Largest Monazite reserves
(d) Strategic petroleum reserves

Answer: (D)

Explanation: State run Engineers India Ltd (EIL) is exploring the possibility of developing a salt cavern-based strategic crude oil reserve in Rajasthan, near Bikaner. Strategic Petroleum reserves:

  • Strategic petroleum reserves are huge stockpiles of crude oil to deal with any crude oil-related crisis like the risk of supply disruption from natural disasters, war or other calamities.
  • Government of India has set up 5.33 MMT of strategic crude oil storages in SPR phase-1 at Vishakapatnam (A.P), Padur (Karnataka) and Manglore (Karnatka). SPR-1 has commissioned and dedicated to the nation in February 2019. Another 6.5 MMT of strategic crude reserves is being planned in SPR-2 at Chandikhol (Odisha) and Padur (Karnataka).

Hence, option (d) is correct.

2. Consider the following statements, with reference to Article 371C:

1. Article 371 C of the Indian Constitution pertains to the Special provision for the State of Manipur.
2. Article 371 C which is included in Part XXI was incorporated through the 42nd Amendment Act of 1976.
3. The Governor is authorized to provide for the creation of a committee of the Manipur Legislative Assembly consisting of the members elected from the Hill Areas of the state.

How many statements given above are correct?

(a) Only one
(b) Only two
(c) All three
(d) None

Answer: (A)

Explanation:

  • The recent clashes regarding the settlement of Meities in the hilly areas has spotlighted Article 371C. Article 371 C of the Indian Constitution pertains to the Special provision for the State of Manipur. Hence, statement 1 is correct.
  • Article 371 C which is included in Part XXI was incorporated through the 27th Amendment Act of 1971. Hence, statement 2 is incorrect.
  • The President is empowered to establish a committee in the Manipur Legislative Assembly comprising members elected from the Hill Areas of the State. The President can also assign the Governor with the specific responsibility of ensuring the effective functioning of the aforementioned committee. The Governor is required to submit an annual report to the President concerning the administration of the Hill Areas. Hence, statement 3 is incorrect.

3. With reference to Talwar Class Ships, consider the following statements:

1. These ships use stealth technologies and a special hull design to ensure a reduced radar cross section.
2. INS Trishul is the third frigate of the Talwar class of the Indian Navy, joined the arsenal of Indian Navy in 2022.

Which of the above statements is/are correct?

(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Answer: (A)

Explanation:

  • Talwar class ships use stealth technologies and a special hull design to ensure a reduced radar cross section. The Talwar-class frigates or Project 11356 are a class of stealth guided missile frigates designed and built by Russia for the Indian Navy. India has six Talwar class frigates in service. Hence, statement 1 is correct.
  • INS Trishul is the second frigate of the Talwar class of the Indian Navy. Trishul, the guided missile frigate, joined the arsenal of Indian Navy in 2003. Hence, statement 2 is incorrect.

4. Consider the following statements:

1. In the emerging insurance markets, India ranks as the largest life insurance market in the world.
2. BimaVahak is a crucial part of IRDAI's goal of achieving "Insurance for all by 2030."
3. Bima Vistar is a comprehensive bundled policy that covers life, health, property, and accidents.

How many statements given above are incorrect?

(a) Only one
(b) Only two
(c) All three
(d) None

Answer: (B)

Explanation:

  • The Insurance Regulatory and Development Authority of India (IRDAI), as part of its Vision Insurance for all’ by 2047, has allotted states and union territories to every insurer to increase insurance penetration in India. In the emerging insurance markets, India ranks as the fifth largest life insurance market, growing at 32-34%. BimaVahak is a crucial part of IRDAI's goal of achieving "Insurance for all by 2047." It will serve as a last-mile connect for insurers, reaching out to every Gram Panchayat (local self-governance institution in India). It is a women-centric workforce operating at the Gram Sabha level. They will educate and convince women about the benefits of comprehensive insurance, particularly Bima Vistar. By addressing concerns and emphasizing advantages, Bima Vaahaks empower women and enhance their financial security. Hence, statement 1 and 2 are incorrect.
  • Bima Vistar is a comprehensive bundled policy that covers life, health, property, and accidents. It provides defined benefits for each risk category, ensuring quick claim payouts without surveyors. Hence, statement 3 is correct.
  • As per the IRDAI, insurance penetration in India increased from 3.76% in 2019-20 to 4.20%in 2020-21, registering a growth of 11.70%.

5. Consider the following:

1. World Development Report
2. Global Financial Stability Report
3. Ease of Doing Business
4. World Social Protection Report
5. Remittance Report

Which of the above reports are released by World Bank?

(a) 1 and 3 only
(b) 2, 3 and 5 only
(c) 1, 3 and 5 only
(d) All of the above

Answer: (C)

Explanation: The World Bank is an international financial institution established in 1944 as a result of Bretton Woods Conference. It consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The Bank aims to reduce poverty and promote shared prosperity. It provides financial assistance, policy advice, and technical expertise to developing countries. The World Bank focuses on aiding developing nations, whereas the International Monetary Fund (IMF) has a primary goal of stabilizing the global monetary system and overseeing global currencies. Recently, Indian-origin Mr. Ajay Banga has taken charge as President of World Bank. Some of the major reports published by World Bank are; World Development Report, Ease of Doing Business, Remittance Report, Human Capital Index etc. Global Financial Stability Report is published by IMF whereas World Social Protection Report is published by ILO. Hence, option (c) is correct.