Current Affairs MCQs for UPSC & State PSC Exams (04 March 2023)

Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams

Date: 04 March 2023

Q1. Consider the following statements about Trade Receivables electronic Discounting System (TReDS).

1. It is an online electronic platform and an institutional mechanism for factoring of trade receivables of MSME sellers NBFCs itself.
2. It enables discounting of invoices through an auction mechanism to ensure prompt realization of trade receivables.

Which of the statement/s given above is/are correct?

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Answer: (C)

Explanation:

What is TReDS?

  • Trade Receivables electronic Discounting System (TReDS) is an online electronic platform and an institutional mechanism for factoring of trade receivables of MSME sellers. (Hence option 1 is correct)
  • It enables discounting of invoices through an auction mechanism to ensure prompt realisation of trade receivables. (Hence option 2 is correct)

Who are required to register on the platform?

  • Participants Eligibility
  • Buyer Corporates including companies and other buyers including Government Departments and Public Sector Undertakings and such other entities as may be permitted by the RBI
  • Seller MSME entities as per the definition of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act).
  • Financier Banks, NBFC Factors, Financial Institutions and such other Institutions as permitted by the RBI

Solution. As both statements 1 and 2 are correct, The correct option is (c).

Q2. Consider the following statements:

1. WaterCredit is the first to put microfinance tools to work in the water and sanitation sector.
2. WaterCredit helps bring small loans to those who need access to affordable financing to make household water and toilet solutions a reality.
3. It is a global initiative launched under the aegis of the UNEP.

Which of the statement/s given above is/are correct?

a) 1 only
b) 1 and 2 only
c) 2 and 3 only
d) All of the above

Answer: (B)

Explanation:

  • WaterCredit is a powerful solution and the first to put microfinance tools to work in the water and sanitation sector. Hence, statement 1 is correct.
  • WaterCredit helps bring small loans to those who need access to affordable financing and expert resources to make household water and toilet solutions a reality. Hence, statement 2 is correct.
  • Watercredit is an initiative of Water.org, a global non-profit organization working to bring water and sanitation to the world.  Hence, statement 3 is incorrect.

Q3. Consider the following Statements regarding the Election Commission of India:

1. The Election Commission of India (ECI) is an autonomous and permanent constitutional body.
2. It conducts elections to Parliament, state legislatures, Panchayat raj institutions, Municipalities, the office of president of India and the office of vice-president of India.
3. Chief Election Commissioner and Election Commissioners are appointed by the President of India.

Select the correct Statement(s) using the code given below.

a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3

Answer: (C)

Explanation:

  • The Election Commission of India (ECI) is an autonomous and permanent constitutional body. Thus statement 1 is correct.
  • ECI conducts elections to Parliament, state legislatures, the office of the president of India and the office of the vice-president of India.
  • State Election Commission conducts the elections for Panchayat raj institutions and Municipalities. Hence statement 2 is not correct.
  • Chief Election Commissioner and Election Commissioners are appointed by the President of India. Thus statement 3 is correct.

Q4. Human capital formation as a concept is better explained in terms of a process which enables- (UPSC Prelims 2018)

1. Individuals of a country to accumulate more capital.
2. Increasing the knowledge, skill levels, and capacities of the people of the country.
3. Accumulation of tangible wealth.
4. Accumulation of intangible wealth.

Which of the statements given above is/are correct?

a) 1 and 2
b) 2 only
c) 2 and 4 only
d) 1, 3, and 4 only

Answer: (C)

Explanation:

  • Human capital formation refers to the process of increasing the knowledge, skills, and abilities of people. This can be achieved through education, training, and other forms of investment in human development. So, statement 2 is correct.
  • Human capital is considered an intangible asset. Unlike tangible assets, such as buildings or machinery, human capital is not a physical object that can be touched or measured. It refers to the knowledge, skills, and abilities of individuals that enable them to create value and contribute to economic growth. So, statement 4 is correct. Therefore, option (c) is correct.

Q5. What are the eligibility criteria for commissioning parents under the new surrogacy law introduced in 2022?

a) The couple should be between 25 and 50 years of age and should not have had a child, either naturally conceived, adopted, or born out of surrogacy
b) The couple should be between 20 and 40 years of age and should not have had a child, either naturally conceived, adopted, or born out of surrogacy
c) The couple should be between 30 and 55 years of age and should have had a child, either naturally conceived, adopted, or born out of surrogacy
d) None of the above

Answer: (A)

Explanation: The couple should be between 25 and 50 years of age and should not have had a child, either naturally conceived, adopted, or born out of surrogacy. Statement a is correct