Current Affairs MCQs for UPSC & State PSC Exams (29 July 2022)

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

Date: 29 July 2022

Q1. Consider the following statements:

1. India is categorized as “holding together” as opposed to a “coming together” federation.
2. In the “holding together” Federation, the central government and the state always seem to have equal powers.

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: (A)

Explanation:

  • Political scientist Alfred Stepan, categorized India as a “holding together” as opposed to a “coming together” federation. Unlike the federal form of government in the United States, which is described as an indestructible union composed of indestructible states, India is described as an indestructible union of destructible states.
  • In Holding Together Federation, the central power always will maintain its dominance over constituent units which results in the lack of sovereignty often.
  • In the Coming Together Federation, the central government and the state always seem to have equal powers.

Q2. Consider the following statements regarding Freebies Culture:

1. It leads to distortion of expenditure prioritisation, away from growth-enhancing items.
2. It boosts the productivity of population, by providing them free resources.
3. It undercuts India’s abiding international and national commitments for sustainable development.

Which of the statements given above is/are correct?

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

Answer: (B)

Explanation:

  • It leads to distortion of expenditure prioritisation, away from growth-enhancing items.
  • It does not boost the productivity of population, by providing them free resources.
  • It undercuts India’s abiding international and national commitments for sustainable development.

Q3. The subject of Sports comes under which of the following list of the Indian Constitution?

a. Union list
b. State list
c. Concurrent list
d. Residuary list

Answer: (B)

Explanation:

  • Constitutionally, sports form a part of Entry 33 of the State List, under Article 246 of the Seventh Schedule of the Constitution of India.
  • Sports is clubbed together with entertainment, cinematic performances, and amusement.
  • There is also no specific enactment for the entire country. Constitutionally, sport is a state subject.

Q4. Consider the following statements about the Warehousing (Development and Regulation) Act 2007 :

1. The legislation was enacted by the Parliament to ensure scientific storage by prescribing infrastructural and procedural standards.
2. It prescribes the establishment of Warehousing Development and Regulatory Authority.
3. The Authority consists of a Chairperson and not more than five members.
4. Captive warehouses such as those of the Food Corporation of India are excluded from the ambit of the Act.

Which of the statement/s given above is/are not correct?

a) 1 only
b) 1& 2 only
c) 3 only
d) 2 &4 only

Answer: (C)

Explanation: Warehousing (Development and Regulation) Act, 2007:

  • The legislation was enacted by the Parliament in September 2007 to ensure scientific storage by prescribing infrastructural and procedural standards.
  • Besides mandating the negotiability of warehouse receipt, it prescribes the form and manner of registration of warehouses and issue of Negotiable Warehouse Receipts including electronic format and prescribes the establishment of Warehousing Development and Regulatory Authority (WDRA), a regulatory body under the Act.
  • The Authority shall consist of a Chairperson and not more than two members.
  • The Regulatory Authority will register and accredit warehouses intending to issue negotiable warehouse receipts and put in place a system of quality certification and grading of commodities with a view to protecting the interests of holders of warehouse receipts against negligence, malpractices and fraud.
  • Captive warehouses such as those of the Food Corporation of India are excluded from the ambit of the Act.

Q5. Consider the following statements regarding the regulation of FinTech sector in India:

1. Payments and Settlement Systems Act of 2007.
2. Peer-to-peer lending guidelines of 2017.
3. National Payments Corporation of India regulations.
4. RBI Act of 1934.
5. Banking Regulations Act of 1949.

Which of the above regulate the sector?

a) Only 1, 4 and 5
b) Only 4 and 5
c) Only 1, 2 and 3
d) All of the above

Answer: (D)

Explanation: Regulation of FinTech Sector in India

  1. The Payments and Settlement Systems Act of 2007
  2. Peer-to-peer lending guidelines of 2017
  3. National Payments Corporation of India regulations for UPI payments.
  4. Regulations governing NBFCs under the RBI Act of 1934
  5. Regulations governing payment banks under the Banking Regulations Act of 1949.

Q6. Consider the following statements:

1. The State government owns all the publicly available assets within the geographical boundaries of the State, which also include airwaves.
2. 5G mainly works in three bands of frequency.
3. 5G is the latest upgrade to the LTE (Long Term Evolution) mobile broadband network.

Choose the correct answer using the code given below:

a. 2 only
b. 2 and 3 only
c. 1 and 2 only
d. 1 and 3 only

Answer: (B)

Explanation:

  • 5G mainly works in 3 bands, namely
  • Low band spectrum
  • Mid band spectrum:
  • High band spectrum
  • The Union government owns all the publicly available assets within the geographical boundaries of the country, which also include airwaves
  • It is the latest upgrade to the LTE (Long Term Evolution) mobile broadband network.