Current Affairs MCQ for UPSC Exams - 02 April 2020

Current Affairs MCQ for UPSC Exams - 02 April 2020

Q1 The RBI has decided to increase the WMA limit by 30% from the existing limit for all States/UTs to enable State governments to tide over the situation arising from the outbreak of the COVID-19 pandemic. Which of the following statements regarding the same stands true ?

1)The WMA scheme for the Central Government was introduced on April 1, 1997. Before that there was the ad-hoc treasury bills which was used to finance short term borrowings of the Central Government.
2) The ‘Ways and Means Advances’ is a scheme that helps meet mismatches in receipts and payments of the government. 
3) Interest rate for WMA is currently charged at the reverse repo rate. The limits for WMA are decided by the RBI only.
Options :
a) 1 & 2 only
b) 2 & 3 only
c) 1 & 3 only
d) all the above

Q2 Consider the following pairs of festivals & their corresponding states:

1) Brahmotsavam : Andhra Pradesh
2) BohagBihu : Arunachal Pradesh
3) ChhathPuja : Bihar
Which of the above pairs are correctly matched ?
a) 1 & 2 only
b) 2 & 3 only
c) 1 & 3 only

d) all the above

Q3 With respect to the open market sales scheme (OMSS) ,which of the following statements stands true ?

1) It refers to selling of foodgrains by Government / Government agencies at predetermined prices in the open market from time to time to enhance the supply of grains especially during the lean season and thereby to moderate the general open market prices especially in the deficit regions.
2) The FCI conducts a weekly auction to conduct this scheme in the open market using the platform of commodity exchange NCDEX (National Commodity and Derivatives Exchange Limited).
3) The State Governments/ Union Territory Administrations are also allowed to participate in the e-auction, if they require wheat and rice outside Targeted PDS & Other Welfare Schemes.
Options :
a) 1 & 2 only 
b) 2 & 3 only
c) 1 & 3 only
d) all the above

Q4 Which of the following statements regarding the recently announces SUNRISE mission by NASA stands true ?

1) The Cubesats will use radio telescope to capture radio images of low-frequency emission that are emitted from the sun which will be sent to the earth through Deep Space Network.
2) The study will also aid future astronauts travelling to Mars and protect them from solar storms.
3) The Cubesats will create a 3D mapping to learn about location of giant particle that are originated from the sun including the sun’s spectrum which becomes easier due to the presence of ionosphere.
Options :
a) 1 & 2 only
b) 2 & 3 only
c) 1 & 3 only

d) all the above

Q5 “Global Financial Development Report 2020” was recently released by which of the following global organisations ?

a) International Monetary Fund
b) World Bank
c) UNCTAD
d) World Economic Forum

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