Current Affairs MCQs for UPSC & State PSC Exams (31 January 2022)

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

Date: 31 January 2022

Q1. Consider the following statements:

1. Under Repo Rate, Scheduled commercial banks can borrow additional amount of overnight money from the Reserve Bank by dipping into their Statutory Liquidity Ratio portfolio.
2. Corridor in Monetary policy is the difference between the Repo rate and reverse repo rate.

Which among the given statement/s is/are correct:

A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2

Answer: (D)

Explanation: Marginal Standing Facility (MSF): A facility under which scheduled commercial banks can borrow additional amount of overnight money from the Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR) portfolio up to a limit at a penal rate of interest.

Repo Rate: The (fixed) interest rate at which the Reserve Bank provides overnight liquidity to banks against the collateral of government and other approved securities under the liquidity adjustment facility (LAF).

Corridor in monetary policy of the RBI refers to the area between the reverse repo rate and the MSF rate. Reverse repo rate will be the lowest of the policy rates whereas Marginal Standing Facility is something like an upper ceiling with a higher rate than the repo rate.

Q2. Consider the following statements about Graphene:

1. Graphene is a single layer of 3-D carbon packed in a hexagonal (honeycomb) lattice.
2. India is the second largest graphene producing country in the World.

Which of the statement/s given above is/are correct?

a) 1 only
b) 2 only
c) Both 1 and 2
d) None of these

Answer: (D)

Explanation: Graphene is an allotrope of carbon consisting of a single layer of atoms arranged in a two-dimensional honeycomb lattice nanostructure.

Q3. Pegasus which is seen in news is a:

a) Malware
b) Virus
c) Artificial intelligence system
d) Supercomputer

Answer: (A)

Explanation: Pegasus is a spyware developed by NSO Group, an Israeli company that specialises in what experts call cyber weapons. It is a type of malicious software or malware classified as a spyware

Q4. Consider the following statements regarding Economic Survey:

1. It’s an annual flagship document that is binding on the government.
2. Economic Survey and Budget-making process are mutually exclusive exercises.
3. Chief Economic Adviser to the government of India is given the responsibility to prepare the Economic Survey.

Which of the statements given above is/are Correct:

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

Answer: (C)

Explanation: The Economic Survey is a flagship annual document which reviews the state of the Indian economy. However, the Constitution neither binds the government to present the Economic Survey nor is the government obliged to go with its recommendations.

The survey provides key inputs which influence the budget-making process. Considering the fact that it provides a detailed analysis of economic developments of the past financial year, it sets the context for the budget.

The Chief Economic Adviser (CEA) is given the responsibility to prepare the Economic Survey.

Q5. Consider the following statements regarding the New Disinvestment Policy of 2021:

1. DIPAM(Department of Investment and Public Asset Management) will provide the complete list of central public sector enterprises to be disinvested.
2. Transport, Power, Coal and Banking are classified as strategic sectors.

Select the correct answer using the code given below.

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

Answer: (B)

Explanation:

  • Niti Aayog will provide the complete list of central public sector enterprises to be disinvested.
  • Transport, Power, Coal, Banking are classified as strategic sectors.

Q6. Consider the following statements:

1) The Constitution mentions the detailed grounds and procedure for removal of Judges of Supreme Court
2) The Supreme Court cannot initiate Contempt proceedings against sitting or retired judges.

Select the correct option

A) 1 only
B) 2 only
C) Both are correct
D) Neither is correct

Answer: (D)

Explanation:

  • Judges Enquiry Act 1968 mentions detailed procedure of removal of Judges. It is not mentioned in the Constitution
  • The SC can initiate such proceedings against judges too. In 2017 a sitting judge of Madras High Court was awarded jail sentence for contempt

Q7. In an economic sector, when productivity is low and too many workers are filling too few jobs, then what type of unemployment would it be called?

a) Involuntary unemployment
b) Seasonal unemployment
c) Disguised unemployment
d) None of the above

Answer: (C)

Explanation: Disguised unemployment also known as hidden unemployment, this refers to a situation where labour that is employed in a job is not actually utilised for the production of goods and services. In other words, such employment does not contribute to the output of an economy and is thus akin to a form of unemployment.