July 3-2024 Current Affairs MCQs

Explanation

Statement 1 is correct

• The RBI has joined Project Nexus, a multilateral international initiative to enable instant cross-border retail payments by interlinking domestic Fast Payments Systems (FPSs).
• It seeks to enhance cross-border payments by connecting multiple domestic Instant Payment Systems (IPS) globally.

Statement 2 is not correct

• It is conceptualised by the Innovation Hub of the Bank for International Settlements (BIS).
• It is the first BIS Innovation Hub project in the payments area to move towards live implementation.

Statement 3 is correct

• The project will interlink India’s Unified Payments Interface (UPI) and the Fast Payments System (FPS) of Malaysia, Philippines, Singapore, and Thailand (All four are ASEAN members).
• Till date, RBI has been collaborating bilaterally with countries to link India’s FPS, i.e. UPI with their respective FPSs for cross-border Person to Person (P2P) and Person to Merchant (P2M) payments.
• While such bilateral connectivity will continue, a multilateral approach will provide further impetus to the RBI’s efforts in expanding the international reach of Indian payment systems.
• India would be the founding member and first mover country of this platform.

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

Explanation

Statement 1 is correct

• PMKSY is a centrally sponsored scheme launched in 2015 by the Ministry of Jal Shakti.

Statement 2 is correct

• The main components of PMKSY are:
  • Accelerated Irrigation Benefit Programme (AIBP).
  • Har Khet Ko Pani (HKKP): It has four sub-components.
    • Command Area Development (CAD)
    • Surface Minor Irrigation (SMI)
    • Repair, Renovation and Restoration (RRR) of Water Bodies
    • Ground Water Development
  • Watershed Development.
  • Per Drop More Crop.

Statement 3 is correct

• Aims:
  • To enhance physical access to water on the farm
  • To expand cultivable area under assured irrigation
  • To improve on-farm water use efficiency
  • To introduce sustainable water conservation practices

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

Explanation

Both statements are not correct

• Article 243-I of the Constitution of India lays down that the Governor of state shall, as soon as may be within one year from the commencement of the Constitution (seventy third amendment) Act, 1992, and thereafter at the expiration of every fifth year, constitute a Finance Commission to review the financial position of the Panchayats and make recommendations to the Governor.
• Similarly, Article 243-Y of the Constitution has a provision for the municipalities.
• Article 243-I and 243-Y have a provision that the State Finance Commission shall recommend the principles governing the distribution between the state and the panchayats and the municipalities of the net proceeds of the taxes, duties, tolls and fees leviable by the State, which may be divided between them.
• The Commission shall also recommend about the grants to the Panchayats and Municipalities from the Consolidated Fund of the State and measures to improve the financial position of these local bodies.
• The Governor shall cause every recommendation made by the Commission under Article 243-I and 243-Y together with an explanatory memorandum as to the action taken thereon to be laid before the legislature of the State.

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

Explanation

Statement 1 is correct

• Herpes disease is a group of viral infections caused by herpes simplex viruses (HSV).
• Herpes simplex virus lives inside the nerve cells and alternates between inactive and active.

Statement 2 is correct

• Transmission: Through direct contact with infected person or by contact with contaminated surfaces.

Statement 3 is not correct

• There is no permanent cure for herpes, but medications are available that suppress the symptoms and decrease the spreading of the infection to others.

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

Explanation

• Recently, the Union Minister for Coal and Mines launched the Noble Initiative for Rewarding Mains Aspirants of National Civil Services Examination (NIRMAN) Portal in alignment with Mission Karmayogi.
• It is announced by Coal India Limited (CIL).
• Aims to provide Rs 1 lakh to UPSC Preliminary examination qualified candidates with annual family income less than 8 Lakh and belonging to SC, ST, female or third gender and are permanent residents of any of the 39 operational districts of CIL.

Answer: (d) None of the above; Difficulty Level: Easy