Daily MCQs – 29th Oct 23
Q1. With reference to International Coffee Organization (ICO) consider the following statements:
- It is the only intergovernmental organization for coffee, bringing together exporting and importing Governments.
- India is not a member of this organization.
Select the correct statements using the codes given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (a)
Explanation:
Statements 1 is correct: ICO was established in 1963 under the aegis of the United Nations and following the approval of the first International Coffee Agreement in 1962. It is the is the only intergovernmental organization for coffee, bringing together exporting and importing Governments.It currently represents 93% of world coffee production and 63% of world consumption.
Statement 2 is incorrect: India is a member of this organization.
Q2. With reference to Small Finance Banks (SFBs) consider the following statements:
- These are specialized banks that focus on providing basic banking services to small businesses, low-income individuals, micro and small enterprises, and other marginalized groups.
- SFBs are required to allocate a specified portion of their lending to priority sectors.
- SFBs offer investment banking services and stock trading.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Answer:(b)
Explanation:
Statements 1 and 2 are correct: SFBs are specialized banks that focus on providing basic banking services to small businesses, low-income individuals, micro and small enterprises, and other marginalized groups. SFBs are required to allocate a specified portion of their lending to priority sectors, including agriculture, micro and small enterprises (MSEs), and other sectors that contribute to economic development.
Statement 3 is incorrect: SFBs are focused on providing basic banking services to underserved and unbanked segments of the population. They are not authorized to offer investment banking services or stock trading.
Q3. Which of the following is the objective of Operation Samudragupt launched by the government?
(a) To provide humanitarian assistance and disaster relief to the people affected by the Turkey and Syria earthquake.
(b) To combat maritime drug trafficking from Afghanistan.
(c) To deter Pakistan from supporting terrorism against India.
(d) To bring back Indian citizens struck at overseas during Covid-19 pandemic.
Answer: (b)
Explanation:
Government has launched Operation Samudragupt to combat maritime drug trafficking from Afghanistan.
Q4. With reference to flex-fuel, consider the following statements:
- It is a mixture of gasoline and either methanol or ethanol.
- It is a renewable fuel.
- It can increase the mileage of the vehicle.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (a)
Explanation:
Statements 1 and 2 are correct: Flex-fuel is a mixture of gasoline and either methanol or ethanol. Flex fuel is considered a renewable fuel. Ethanol, which is a primary component of flex fuel, is a renewable fuel made from corn and other plant materials.
Statement 3 is incorrect: Flex fuel vehicles typically get fewer miles per gallon than gasoline vehicles. This is because ethanol, the main component of flex fuel, has a lower energy content than gasoline. This means that a flex fuel vehicle needs to use more fuel to travel the same distance as a gasoline vehicle.
Q5. With reference to Indian Renewable Energy Development Agency Ltd. (IREDA) consider the following statements :
- It is a government agency that is responsible for regulating the use of renewable energy in India.
- It provides term loans for the acquisition of renewable energy assets and for the expansion and modernization of existing renewable energy and energy efficiency projects.
Select the correct answer from the codes given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (b)
Explanation:
Statement 1 is incorrect: IREDA is a public sector financial institution that provides financial assistance for renewable energy and energy efficiency projects. It is not a regulatory body.
Statement 2 is correct: It provides term loans for the acquisition of renewable energy assets and for the expansion and modernization of existing renewable energy and energy efficiency projects.