January 10 2025 Current Affairs MCQs

Explanation

All are correct

• India and the U.S. have announced cooperation on the co-production of U.S. Sonobuoys to enhance Undersea Domain Awareness (UDA) for the Indian Navy.
• Sonobuoys:
  • Sonobuoys are lightweight, expendable devices for detecting submarines and other underwater threats, vital for undersea domain awareness (UDA).
  • Deployment: Released from aircraft or ships, they activate upon water impact and transmit acoustic data.
  • Components: Equipped with hydrophones for sound detection and radio transmitters for data relay.
  • Data Transmission: Acoustic signals are sent to operators in real-time via VHF (Very High Frequency) or UHF (Ultra High Frequency) radios.
• Indian Navy Platforms Using Sonobuoys:
  1. P-8I Aircraft: Long-range maritime patrol aircraft.
  2. MH-60R Helicopters: Multi-role helicopters for anti-submarine warfare.
  3. MQ-9B Sea Guardian: High-altitude, long-endurance drones to be delivered starting in 2029.

Answer: (d) 1, 2 and 3; Difficulty Level: Hard

Explanation

Both statements are incorrect

• Rat-hole mining has gained attention due to the recent deaths of miners in Assam.
• Rat-Hole Mining:
  • A coal extraction method involving digging narrow tunnels or pits to access thin coal seams.
  • Predominantly practised in Meghalaya, with incidents reported in Assam.
  • Tools: Primitive tools like pickaxes, shovels, and baskets are commonly used.
  • Depth: Vertical pits can go as deep as 400 feet.
• Types:
  • Side-Cutting: Horizontal tunnels on hill slopes to extract coal.
  • Box-Cutting: Vertical pits followed by horizontal tunnels to access coal seams.
• Banned by NGT in 2014: The SC upheld the ban due to safety and environmental concerns.

Answer: (c) Both 1 and 2; Difficulty Level: Easy

Explanation

Statement 1 is incorrect and statement 2 is correct

• Sections 33 and 81 of the Delhi Land Reforms Act stirred controversy ahead of Delhi elections over unfulfilled repeal promises by the Union government.
• Key Provisions of Delhi Land Reforms Act, 1954:
  • Objective: Enacted to reform the Zamindari system and unify tenancy laws in Delhi.
  • Tenure Holders: Recognizes two types of land tenure holders—Bhumidhar and Asami.
  • Repeal of Previous Laws: Including Punjab Tenancy Act 1887 & Agra Tenancy Act 1901.
  • Section 33:
    • Restricts sale, gift/ transfer of agricultural land if it results in the owner retaining less than 8 acres of land.
    • Aims to prevent fragmentation into uneconomic holdings.
    • Exceptions: Transfers only to religious/charitable institutions and Bhoodan movement beneficiaries.
  • Section 81:
    • Prohibits using agricultural land for non-agricultural purposes like housing or commercial activities.
    • Violations result in the land vesting with the Gram Sabha.
    • Permitted uses: Agriculture, horticulture, animal husbandry, pisciculture, and poultry farming.

Answer: (b) 2 only; Difficulty Level: Medium

Explanation

Statement 2 is correct

• Credit Information Companies (CICs):
  • CICs are authorised by RBI to collect, maintain, and report borrowers’ credit information, helping lenders assess loan eligibility.
  • Major CICs in India: TransUnion CIBIL, CRIF High Mark, Equifax, and Experian.
  • CICs collaborate with banks and NBFCs to gather data, generate credit scores, and provide reports.

Statement 3 is correct

• RBI-Directed Measures for Redressal:
  • Banks and NBFCs must pay ₹100 per calendar day for unresolved complaints beyond 30 days and failure to update credit data within 21 days of complaint receipt.
  • Credit data must be updated by banks & NBFCs at least twice a month or as per agreements with CICs.
  • CICs and financial institutions must notify customers of complaint resolution status and provide clear reasons for rejecting data correction requests.
  • CICs must send SMS/email alerts when a credit report is accessed, and banks/NBFCs must notify customers about reported defaults or Days Past Due (DPD).

Statement 1 is incorrect

• A credit score is a three-digit figure (typically ranging from 300 to 900) indicating a borrower’s creditworthiness. A score of 750 or above is considered ideal, improving the borrower’s chances of securing loans on favourable terms.
• Importance of a Good Credit Score:
  • A high credit score leads to better loan terms, including lower interest rates, faster approvals, and larger credit limits.
  • A low credit score can result in loan rejection/higher interest rates, even after rectifying past defaults institutions.

Answer: (b) 2 and 3 only; Difficulty Level: Hard

Explanation

Pair 1 is correct

• Global Risks Report is a yearly study by WEF.
• It is developed in collaboration with Marsh McLennan and Zurich Insurance Group and explores some of the most severe risks we may face over the next decade, against a backdrop of rapid technological change, economic uncertainty, a warming planet and conflict.

Pair 2 is incorrect

• The World Economic Outlook (WEO) is a survey of prospects and policies by the IMF, usually published twice a year, with updates in between.
• It presents analyses and projections of the world economy in the near and medium term, which are integral elements of the IMF’s surveillance of economic developments and policies in its member countries and of the global economic system.
• Issues affecting advanced, emerging and developing economies, and topics of pressing current interest are considered.

Pair 3 is correct

• The Global Financial Stability Report (GFSR) is a semi-annual publication by the International Monetary Fund (IMF).
• The Global Financial Stability Report provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context.
• It focuses on current market conditions, highlighting systemic issues that could pose a risk to financial stability and sustained market access by emerging market borrowers.
• The Report draws out the financial ramifications of economic imbalances highlighted by the IMF’s World Economic Outlook.

Pair 4 is incorrect

• Future of Jobs report is brought out by WEF annually.
• “Future of Jobs 2025” report:
  • It highlights the top 10 fastest-growing jobs by 2030, emphasising technology-driven roles.
  • Technological change, geoeconomic fragmentation, economic uncertainty, demographic shifts and the green transition – individually and in combination are among the major drivers expected to shape and transform the global labour market by 2030.
  • The Future of Jobs Report 2025 brings together the perspective of over 1,000 leading global employers to examine how these macrotrends impact jobs and skills, and the workforce transformation strategies employers plan to embark on in response, across the 2025 to 2030 timeframe.

Answer: (b) Only two; Difficulty Level: Medium

Explanation

Option (b) is the correct answer

• Community Notes is a feature introduced by Meta to provide context to posts flagged as misleading, inspired by a similar feature on X (formerly Twitter).
• Crowdsourced System: Users add notes containing facts or context to flagged posts, visible only after sufficient user agreement.
• Data Transparency: All contributions are publicly available for download and analysis.
• Anonymity: Contributors use autogenerated aliases to ensure safety and privacy.

Answer: (b) To provide context to flagged posts through crowdsourced user contributions; Difficulty Level: Easy

Explanation

Statements 1 and 2 are correct

• About Women Entrepreneurship Platform (WEP):
  • Incubated by NITI Aayog in 2018; transitioned to public-private partnership in 2022.
  • Aim: To overcome Barriers For Women Entrepreneurs by providing Access to Finance, Market Linkages, Training and Skilling, Mentoring & Networking, Compliance & Legal Assistance, and Business Development Services.
  • Collaborations: Works with 30+ public and private sector partners.

Statement 3 is incorrect

• EmpowHER Biz launched under WEP’s “Award to Reward (ATR)” program, India’s largest convenience retail chain, to equip aspiring women entrepreneurs with skills & resources for success in organised retail.
• Features of EmpowHER Biz Initiative:
  • Mentorship: Focus on retail management, digital tools, financial literacy & business development.
  • Participant Selection: 50 women aged 18–35 were selected via an online application process based on defined criteria.
  • Franchise Fee Waiver: Top 20 participants receive a 100% waiver on New Shop franchise fees.
  • Target Regions: Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, and Gujarat.

Answer: (b) Only two; Difficulty Level: Hard