Current Affairs MCQs for UPSC & State PSC Exams (10 August 2023)

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

Date: 10 August 2023

1. With reference to Compulsory Convertible Debentures (CCD), consider the following statements:

1. CCDs are debentures with an underlying characteristic of compulsory conversion into equity after a certain period of time.
2. CCDs are a type of hybrid instrument, i.e. it is neither considered a pure debt nor pure equity.

Which of the above statements is/are correct?

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

Answer: (C)

Explanation: Foreign investors from Mauritius, Cyprus and Singapore are issued notices for gains from investment in CCDs issued by Indian companies. CCDs are debentures with an underlying characteristic of compulsory conversion into equity after a certain period of time. CCDs are a type of hybrid instrument, i.e. it is neither considered a pure debt nor pure equity. CCDs include a convertibility feature which acts as an incentive for the investors over and above the interest income. Hence, both statements are correct.

2. With reference to Ayushman Bharat Pradhan Mantri Jan Arogya Yojna (AB-PMJAY) consider the following statements:

1. It is the world’s largest health assurance scheme fully financed by the government and the cost of implementation is shared between the Central and State Governments.
2. It provides a cover of Rs. 10 lakhs per family per year for secondary and tertiary care hospitalization across public and private empaneled hospitals in India.
3. It is only applicable to the economically weaker sections of the society.

How many of the above statements is/are correct?

(a) Only one
(b) Only two
(c) All three
(d) None

Answer: (B)

Explanation: Ayushman Bharat Pradhan Mantri Jan Arogya Yojna (AB-PMJAY) was launched in 2018 to achieve Universal Health Coverage. It is the world’s largest health assurance scheme fully financed by the government and the cost of implementation is shared between the Central and State Governments. This yojna does not provide any restriction in family size, age or gender. It provides a cover of Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization across public and private empaneled hospitals in India. Hence, only statement 3 is incorrect.

3. Consider the following statements, with reference to Select Committee in the Parliament of India:

Statement I - Select Committee is an adhoc or temporary committees, which are set up for a specific purpose, such as examining a particular Bill and are dissolved after it.
Statement II - The committee is entirely made of MPs of the opposition headed by the leader of opposition.

Which one of the following is correct in respect of the above statements?

(a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I.
(b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I.
(c) Statement-I is correct but Statement II is incorrect.
(d) Statement-I is incorrect but Statement II is correct.

Answer: (C)

Explanation: Recently Raghav Chadha, Member of the Parliament proposed to refer the Delhi Services Bill to Select Committee. Select Committee is an ad hoc or temporary committees, which are set up for a specific purpose, such as examining a particular Bill and are dissolved after it. According to the Rajya Sabha rules, “The Select Committees on Bills are constituted by the House(s) on specific motion moved by the Minister in-charge of the Bill or any member. The actual number of membership of the Select Committee is not fixed. It varies from Committee to Committee. The report of the committee is of a recommendatory nature. Hence, Statement-I is correct but Statement II is incorrect.

4. The term 'Harmonised System of Nomenclature' often seen in news is related to which of the following?

(a) The system that issues a unique code to each foreign goods traded.
(b) The system is used to categorize animals and plants based on genetic traits.
(c) A classification system for books and publications based on their topic matter.
(d) The system is used in a certain country to assign licence plate numbers to automobiles.

Answer: (A)

Explanation: Recently, India's Directorate General of Foreign Trade (DGFT) declared that beginning November 1, 2023, it will prohibit the import of laptops, PCs, and their components, with a concentration on items with HSN Code 8471. The HSN is a system that issues a unique code to each foreign product traded. Customs authorities all across the world use the HSN code to identify and assess duties on imported products. It is also used by dealers and exporters to declare items and comply with origin requirements. The World Customs Organization (WCO) created the HSN code in 1988, and it is updated every five years. Hence, option (a) is correct.

5. ‘Maya operating system’ recently seen is news is implemented by which of the following ministries?

(a) Department of Science and Technology
(b) Ministry of Commerce and Industry
(c) Ministry of New & Renewable Energy
(d) Ministry of Defence

Answer: (D)

Explanation: Amid increasing cyber and malware attacks on defence as well as critical infrastructure, Ministry of Defence to replace Windows OS with Maya OS. New OS is based on an open-source platform Ubuntu. Unlike proprietary software, everyone has the freedom to edit, modify and reuse open-source code. In addition, an end-point detection and protection system, Chakravyuh, is also being installed in these systems. Hence, option (d) is correct.