Current Affairs MCQ for UPSC Exams - 28 September 2020

Q1 Sri Lanka has sought an additional currency swap facility and deferment of debt payments from India during an online bilateral summit recently. Which of the following statements with respect to currency swap facility stands true ?

1) A currency swap between two countries is an agreement or contract to exchange currencies (of the two countries or any hard currency) with predetermined terms and conditions.
2) Usually currency swap occurs to avoid turbulence and other risks in the foreign exchange market and exchange rate.Often, the turbulence comes when a country faces scarcity of foreign currency which may lead to currency crisis and steep depreciation of the domestic currency.
3) Besides currency or exchange rate stability, currency swaps between governments also have supplementary objectives like promotion of bilateral trade, maintaining the value of foreign exchange reserves with the central bank and ensuring financial stability.
Options :
a) 1 & 2 only
b) 2 & 3 only
c) 1 & 3 only
d) all the above

Q2 Arrange the following countries in the increasing order of their GDP’s (Gross Domestic Product) :

A) China
B) Germany
C) France
D) India

Options :
a) BDAC
b) BADC
c) CDBA
d) CBDA

Q3 Consider the following statements regarding the Warehousing Development and Regulatory Authority (WDRA) :

1) The Warehousing Development and Regulatory Authority (WDRA) is a non-statutory body formed under ministry of commerce.
2) It is formed for the development and regulation of warehouses, negotiability of warehouse receipts and promote orderly growth of the warehousing business in the country.
Which of the above statements stands true ?
Options :
a) 1 & 2 only
b) 2 only
c) None of the above
d) 1 only

Q4 India’s sandalwood trees, the country’s pride particularly of Karnataka are facing a serious threat with the return of the destructive Sandalwood Spike Disease. Which of the following statements regarding the same stands true ?

1) Spike disease is characterized by extreme reduction in leaf size accompanied by stiffening and reduction of internode length.
2) Presently, there is no option but to cut down and remove the infected tree to prevent the spread of the disease, caused by phytoplasma — bacterial parasites of plant tissues which are transmitted by insect vectors.
3) Karnataka accounts for the largest distribution of sandalwood trees in India.
Options :
a) 1 & 2 only
b) 2 & 3 only
c) 1 & 3 only
d) all the above

Q5 The JIMEX-20 maritime exercise between India & Japan was held recently in which of the following places/seas?

a) Bay of Bengal
b) Arabian Sea
c) Sea of Japan
d) Sea of Okhotsk

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Current Affairs MCQ for UPSC Exams - 28 September 2020