Daily Current Affairs 26 March 2019

Daily Current Affairs MCQ for All Competitive Exams

Q. 1 With reference to Peer to Peer Lending (P2P), consider the following statements:

It connects verified borrowers seeking secured personal loans with investors looking to earn higher returns on their investments.

P2P lenders are registered as non-banking financial companies (NBFCs).

Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Explanation

Peer to Peer lending, also known as P2P Lending, is a financial innovation which connects verified borrowers seeking unsecured personal loans with investors looking to earn higher returns on their investments. Hence, statement 1 is not correct.

P2P lending service providers have been in business in India since early 2014. However, it was in September 2017, RBI notified that these will be registered as non-banking financial companies (NBFCs) and subsequently came out with guidelines for P2P lending. Hence, statement 2 is correct.

Q2. With reference to Olive Ridley Turtle, consider the following statements:

  1. They are the least abundant sea turtles in the world.
  2. It is a species under Schedule I of Wildlife Protection Act, 1972.
  3. Coast of Odisha is the largest mass nesting sites for olive ridleys.

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 only

Explanation

The Olive ridley turtles are the smallest and most abundant of all sea turtles found in the world, inhabiting warm waters of the Pacific, Atlantic and Indian oceans. Hence, statement 1 is not correct.

The species is listed as Vulnerable in the IUCN Red List, Appendix 1 in CITES, and Schedule I of Wildlife Protection Act, 1972. Hence, statement 2 is correct.

The coast of Orissa in India is the largest mass nesting site for the Olive-ridley, followed by the coasts of Mexico and Costa Rica. Hence, statement 3 is correct.

3. With reference to El Nino, consider the following statements:

  1. It refers to the unusual warming of the central and east-central equatorial Pacific Ocean.
  2. It increases the upwelling of cold water, increasing the uplift of nutrients from the bottom of the ocean.
  3. Strong El Nino brings heavy rains to India.

Which of the statements given above is/are correct?

A. 1 and 2 only

B. 2 and 3 only

C. 1 only

D. 1, 2 and 3 only

Explanation

El Nino refers to the unusual warming of the central and east-central equatorial Pacific Ocean which affects global weather. Hence, statement 1 is correct.

El Nino reduces the upwelling of cold water, decreasing the uplift of nutrients from the bottom of the ocean. This affects marine life and sea birds. The fishing industry is also affected. Hence, statement 2 is not correct.

Over India, the El Nino has usually been the harbinger of drought whereas La Nina is associated with good rain. Hence, statement 3 is not correct.

Q4. With reference to Gilt Funds, consider the following statements:

  1. Gilt funds are investment funds in fixed-interest generating securities of the central and state governments.
  2. Since these are issued by the Governments, they are high-grade securities.

Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Explanation: Gilt funds are a type of investment fund that invests in gilt securities (fixed-interest generating securities of the central and state governments). Hence, statement 1 is correct.

Since these are issued by the Governments, they are high-grade securities (government rarely fails financially and there is no risk for losing money), consequently carrying low yields. Because of higher credit ratings (AA), these offer a very low rate, say 4%. Hence, statement 2 is correct.

5. With reference to Bhitarkanika National Park, consider the following statements:

  1. It is the only Ramsar Site in Odisha.
  2. It has been recently included in the Montreux Records.

Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Explanation: Odisha has two wetlands of international importance under Ramsar Convention namely Chilika and Bhitarkanika. Hence, statement 1 is not correct.

Only two wetlands of India are in Montreux record viz. Keoladeo National Park, Rajasthan and Loktak Lake, Manipur. Chilka Lake was also placed in the record but it was later removed from it making it the first site from Asia to be removed from the record. Hence statement 2 is not correct.

Q6. Consider the following statements with respect to the importance of oceans and its economic potential:

1) Oceans cover 72 per cent of the surface of our blue planet and provide humankind with food, minerals, energy, fresh water and oxygen. They regulate climate, emission absorption and shoreline protection and support livelihoods as well as job creation.

2) Considering the importance of oceans on the life and sustenance of humanity, the United Nations has taken steps to declare the period 2021–2030 as the Decade of Ocean Science for Sustainable Development.

3) The objective of the Blue Economy is to promote smart, sustainable and inclusive growth and employment opportunities through maritime economic activities.

Which of the above statements are true?

A) 1 & 2 only

B) 2 & 3 only

C) 1 & 3 only

D) all of the above

Answer: D

Q7. With respect to Virtual Simcard, which of the following statements are true?

1) Unlike a SIM card, virtual SIMs are not attached to a mobile and created online to help you communicate.

2) It is a cloud-based number that can be used from any device via an app.

3) One can Travel and communicate at the rates of the home operator, with anonymity and security, because Virtual SIM works as a VPN.

A) 1 & 2 only

B) 2 & 3 only

C) 1 & 3 only

D) all of the above

Answer: D

Q8. Which of the following statements regarding India’s FinTech prospects are true?

1) India is one of the fastest growing FinTech markets globally and industry research has projected that USD 1 Trillion or 60% of retail and SME credit, will be digitally disbursed by 2029.

2) The Indian FinTech ecosystem is the second largest in the globe after China, attracting nearly USD 6 billion in investments since 2014.

3) The Indian FinTech industry is creating cutting edge intellectual property assets in advanced risk management and artificial intelligence that will propel India forward in the global digital economy while simultaneously enabling paperless access to finance for every Indian.

A) 1 & 2 only

B) 2 & 3 only

C) 1 & 3 only}

D) all of the above

Answer: C

Q9. With respect to recent UN report on Tb released on World Tb day, which of the following statements are correct?

1) India has achieved an 84 per cent reduction in tuberculosis deaths among people living with HIV by 2017.

2)According to the Joint United Nations Programme on the UNAIDS, it is the highest recorded decline among over 20 nations and it is also three years ahead of the 2020 deadline.

3) UNAIDS has urged countries to step up action to meet the 2020 target of reducing TB deaths among people living with HIV by 75 per cent, as outlined in the 2016 United Nations Political Declaration on Ending AIDS.

A) 1 & 2 only

B) 2 & 3 only

C) 1 & 3 only

D) all of the above

Answer: D

Q10. The “Moluccas Island” recently struck by a massive earthquake is a part of which of the following island groups?

A) Lakshadweep islands

B) Andaman & Nicobar islands

C) Indonesia

D) Greater Antilles

Answer: C

Source: The Hindu, PIB, Indian Express

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