Current Affairs MCQs for UPSC & State PSC Exams (27 July 2022)

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

Date: 27 July 2022

Q1. Consider the following statements regarding the TReDS platform:

1. TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of MSMEs through multiple financiers.
2. Only MSMEs can participate as sellers in TReDS.

Which of the statements given above is/are correct?

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

Answer: (C)

Explanation:

  • TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of MSMEs through multiple financiers. These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).
  • As per RBI TReDS guidelines, only MSMEs can participate as sellers, while banks, non-banking financial companies, and factoring companies are permitted as financiers.

Q2. If simultaneous elections are to be conducted in India, then Which of the following part of the constitution will need to be amended to build in provisions for the stability of tenure for both parliament and assemblies?

1. Article 83
2. Article 85
3. Article 172
4. Article 174
5. Article 356

Choose the correct answer using the code given below:

a) 1 and 2 only
b) 3 and 4 only
c) 1, 2, 3, and 4 only
d) 1, 2, 3, 4, and 5 only

Answer: (D)

Explanation: Amendments to the Constitution would encompass Articles 83 (Duration of Houses), 85 (Dissolution of the Lok Sabha), 172 (Duration of state legislatures), 174 (Dissolution of state legislatures), 356 (Failure of constitutional machinery), and the Tenth Schedule (to ensure that all disqualification issues arising from defection are decided by the presiding officer within six months).

Q3. Consider the following statements regarding India’s nuclear policy:

1. India has declared its “No First Use” policy immediately after the Pokhran I test.
2. India can use its nuclear weapon against any state if it is engaged in war with that state.
3. India is not a member of the Comprehensive Test Ban Treaty (CTBT).

Choose the correct option below:

a) Only 3
b) Only 1 and 3
c) 1, 2 and 3
d) None

Answer: (A)

Explanation:

  • In order to avoid sanctions from western countries and to show its determination of establishing a peaceful world, India came up with a nuclear policy post Pokhran II test.
  • India will not use its nuclear weapons in war against a country which does not have nuclear capability.
  • India opposed the indefinite extension of the NPT in 1995 and also refused to sign the Comprehensive Test Ban Treaty (CTBT).

Q4. The recommendations on the Ethics of Artificial Intelligence have been given by?

a) UNHRC
b) UNESCO
c) UNGA
d) G20

Answer: (B)

Explanation: The recommendations on the Ethics of Artificial Intelligence have been given by UNESCO.

Q5. Consider the following statements:

1. A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country.
2. Asia’s first Export Processing Zones was established in 1965 at Kandla, Gujarat.

Which of the statements given above is/are correct?

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

Answer: (C)

Explanation:

  • Special Economic Zone (SEZ) is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
  • In order words, SEZ is a geographical region that has economic laws different from a country's typical economic laws. Usually, the goal is to increase foreign investments.
  • Asia’s first EPZ (Export Processing Zones) was established in 1965 at Kandla, Gujarat.