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UPSC Essentials brings to you its initiative of subject-wise quizzes. These quizzes are designed to help you revise some of the most important topics from the static part of the syllabus. Each day, we will cover one new subject. Attempt today’s subject quiz on Economy to check your progress. Come back tomorrow to solve the MCQs on International Relations. Don’t miss checking the answers and explanations at the end of the quiz.
Consider the following indicators:
1. Drinking water
2. Years of schooling
3. Sanitation
4. Access to Electricity
How many of the indicators/sub-indicators given above are part of the National Multidimensional Poverty Index?
(a) Only one
(b) Only two
(c) Only three
(d) All of the above
Which of the following activities of the Reserve Bank of India is considered part of ‘sterilisation’? (PYQ 2023)
(a) Conducting Open Market Operations
(b) Oversight of settlement and payment systems
(c) Debt and cash management for the Central and State Governments
(d) Regulating the functions of Nonbanking Financial Institutions
With reference to the Dryland Farming, consider the following statements:
1. It is practiced in areas where the annual rainfall is less than 75 cm.
2. It is practiced only in the north-western part of India.
3. Millets are traditional and staple crops of dryland farming.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
With reference to the Urban Cooperative Bank, consider the following statements:
1. These are registered as cooperative societies.
2. Baking-related functions are carried out by respective State Governments.
3. The minimum CRAR requirement for Tier 1 banks is retained at 12 per cent under current capital adequacy framework based on Basel-1 rules.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
With reference to the National Agricultural Market (e-NAM), consider the following statements:
1. It is a pan-India electronic trading portal which networks the existing Agricultural Produce Market Committee(APMC) mandis to create a unified national market for agricultural commodities.
2. It is funded partially by the Central Government and partially by the respective State Governments.
3. It is implemented by Small Farmers Agribusiness Consortium.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
FYI:
— The Global Multidimensional Poverty Index (MPI), based on the Alkire-Foster (AF) methodology, captures overlapping deprivations in health, education, and living standards.
— India’s national MPI has three equally weighted dimensions – Health, Education, and Standard of living – which are represented by 12 indicators.
| Indicators | Sub- indicators | Weightage |
| Health (⅓) | Nutrition | 1/6 |
| Child and Adolescent Mortality | 1/12 | |
| Maternal Health | 1/12 | |
| Education (⅓) | Years of schooling | 1/6 |
| School Attendance | 1/6 | |
| Standard of Living(⅓) | Cooking fuel | 1/21 |
| Sanitation | 1/21 | |
| Drinking water | 1/21 | |
| Housing | 1/21 | |
| Electricity | 1/21 | |
| Assets | 1/21 | |
| Bank Account | 1/21 |
Therefore, option (d) is the correct answer.
(Source: niti.gov.in)
FYI:
— The market based approach involves financial transactions between the central bank and the market, which leads to withdrawal or injection of liquidity, as the case may be.
— The non-market based approach involves the use of quantitative barriers, rules or restrictions in market activity, which attempt to keep the potential injection of liquidity outside the domestic financial system. The market based approach aimed at neutralising part or whole of the monetary impact of foreign inflows is termed as sterilisation.
— The overlapping steps in the sterilisation process are:
(a) decision of the monetary authority to intervene by substituting foreign currency with domestic currency in case of excess capital inflows, and
(b) decision to intervene further in the bond or money market to substitute domestic currency so released out of the intervention in forex market with bonds or other eligible paper. While open market operations (OMO) involving sale of securities constitute the commonly used instrument of sterilisation, several other instruments are available to offset the impact of capital inflows on domestic money supply.
Therefore, option (a) is the correct answer.
(Source: http://www.rbi.org.in)
FYI:
— Dryland farming is practiced in areas where the annual rainfall is less than 750 mm and the crop growing season is less than 200 days. Hence, statement 1 is correct.
— It is generally practiced in arid regions of the country.
— Geographically, dryland agriculture area in India includes the north-western Rajasthan, the plateau region of central India, the alluvial plains of Ganga-Yamuna river basin, the central highlands of Gujarat, Maharashtra, Madhya Pradesh, the shadow regions of Deccan in Maharashtra, the Deccan plateau of Andhra and Tamil Nadu highlands. Hence, statement 2 is not correct.
— Major dryland farming crops include millets, oilseeds, pulses, maize, cereals and cotton. The most commonly grown millets in dryland are Sorghum (Jowar), Pearl millet (Bajra) and Finger millet (Ragi). Hence, statement 3 is correct.
— Almost 80 per cent of Sorghum and Maize, 90 per cent of Pearl millet, 75 per cent of oil seeds and approximately 95 per cent of pulses are obtained from dryland farming.
Therefore, option (b) is the correct answer.
FYI:
— Primary Cooperative Banks (PCBs), also referred to as Urban Cooperative Banks (UCBs), cater to the financial needs of customers in urban and semi-urban areas.
— UCBs are primarily registered as cooperative societies under the provisions of either the State Cooperative Societies Act of the State concerned or the Multi State Cooperative Societies Act, 2002. Hence, statement 1 is correct.
— Though the Banking Regulation Act came in to force in 1949, the banking laws were made applicable to cooperative societies only in 1966 through an amendment to the Banking Regulation Act, 1949.
— There is duality of control over these banks with banking related functions being regulated by the Reserve Bank and management related functions regulated by respective State Governments/Central Government. Hence, statement 2 is not correct.
— The Reserve Bank of India (RBI) has decided to adopt a simple four-tiered regulatory framework with differentiated regulatory prescriptions aimed at strengthening the financial soundness of the existing urban cooperative banks (UCBs).
— The RBI decision is based on the report submitted by NS Viswanathan Committee on UCBs.
— According to the RBI, the minimum CRAR requirement for Tier 1 banks is retained at the present prescription of 9% under current capital adequacy framework based on Basel-1 rules. Hence, statement 3 is not correct.
— For Tier 2, Tier 3 and Tier 4 UCBs, while retaining the current capital adequacy framework, it has been decided to revise the minimum CRAR to 12% so as to strengthen their capital structure.
Therefore, option (a) is the correct answer.
(Other Source: http://www.rbi.org.in)
FYI:
— National Agriculture Market (e-NAM) is a pan-India electronic trading portal which networks the existing Agricultural Produce Market Committee(APMC) mandis to create a unified national market for agricultural commodities. Hence, statement 1 is correct.
— It was launched by Prime Minister Narendra Modi on April 14, 2016. e-NAM is completely funded by the Central Government. Hence, statement 2 is not correct.
— It is implemented by Small Farmers Agribusiness Consortium (SFAC), under the aegis of Ministry of Agriculture and Farmers’ Welfare. Hence, statement 3 is correct.
— The e-NAM platform encourages farmers to sell their goods through an online competitive and transparent price discovery mechanism and an online payment facility.
— The e-NAM portal serves as a one-stop shop for all APMC-related information and services. This includes product arrivals, quality and pricing, buy and sell offers, and e-payment settlement straight into farmers’ accounts.
Therefore, option (b) is the correct answer.
(Other Source: pib.gov.in)
Daily subject-wise quiz — Polity and Governance (Week 22)
Daily Subject-wise quiz — History, Culture, and Social Issues (Week 22)
Daily subject-wise quiz — Environment, Geography, Science and Technology (Week 22)
Daily subject-wise quiz — Economy (Week 21)
Daily subject-wise quiz – International Relations (Week 21)
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