Daily Current Affairs MCQ: 4th December 2024 - UPSC MCQ

The Vizhinjam International Seaport in Kerala is recognized as India's first deep-water container transshipment port. This distinction highlights its strategic importance in handling large container ships for transshipment purposes, enhancing India's maritime connectivity and trade capabilities.

- Statement 1: This statement is correct. The Banking Laws (Amendment) Bill, 2024, allows bank account holders to nominate up to four individuals, either simultaneously or successively. However, locker holders can only make successive nominations.

- Statement 2: This statement is correct. The Bill redefines "substantial interest" in bank directorships, raising the threshold from ₹5 lakh to ₹2 crore, reflecting changes in economic conditions.

- Statement 3: This statement is incorrect. The Bill actually extends the tenure for directors in cooperative banks from eight years to ten years, not reduces it.

Thus, the correct statements are 1 and 2, making Option B the correct answer.

The primary goal of the Windfall Tax imposed in India on crude oil production and fuel exports was to ensure a stable domestic fuel supply amidst rising global prices by capturing windfall profits generated by companies due to unexpected factors like market shifts or crises. This tax aimed to maintain stability in the domestic fuel market and encourage long-term investments in oil production by removing unpredictability in taxation.

1. Windfall Tax Implementation Date - July 1, 2022:
This is correctly matched. The Windfall Tax was indeed introduced on July 1, 2022, targeting domestic crude oil production and export of certain fuels.

2. Windfall Tax on Petrol Exports - Rs 10 per litre:
This is incorrectly matched. The tax on petrol exports was initially set at Rs 6 per litre, not Rs 10 per litre.

3. Redefinition of "Fortnight" for Cash Reserves - 1st to 15th or 16th to last day of the month:
This is correctly matched. The Banking Laws (Amendment) Bill, 2024, redefined a fortnight for cash reserves from the 1st to the 15th and from the 16th to the last day of the month.

4. Increase in Threshold for Substantial Interest - From ₹5 lakh to ₹2 crore:
This is correctly matched. The threshold for substantial interest was raised from ₹5 lakh to ₹2 crore, allowing for government modification through notifications.

Thus, three pairs are correctly matched.

1. Statement 1 is correct. Nandalal Bose was indeed a key figure in the neo-Bengal school and played a significant role in influencing the art scene at Kala Bhavan in Santiniketan, where he served as the principal and mentored many artists.

2. Statement 2 is incorrect. While Nandalal Bose did draw inspiration from Mughal and Rajasthani miniatures, his art was not exclusively based on these traditions. He also incorporated influences from Japanese Nihonga traditions, palm-leaf manuscripts, and Ajanta cave murals, among others, to develop his unique style.

3. Statement 3 is correct. The Archaeological Survey of India has recognized Nandalal Bose's works as "art treasures" according to the Antiquities and Art Treasures Act of 1972, highlighting their cultural and historical significance.

Thus, the correct answer is Option C: 1 and 3 Only. This accurately reflects the contributions and recognitions of Nandalal Bose as described in the given material.

The Subabul tree is valued for its wood, which is utilized in producing quality charcoal, small furniture, and paper pulp. This highlights its importance beyond just being a cover crop or fodder source, making it a valuable resource for wood-based products in the regions where it is commonly found.

1. Statement 1 is incorrect. Subabul, also known as Leucaena leucocephala, is not native to India; it originates from Mexico. While it has been investigated for its potential in managing type II diabetes, it is primarily used as a cover crop and for fodder, not solely for its medicinal properties.

2. Statement 2 is correct. Marburg Virus Disease (MVD) is indeed a hemorrhagic fever with a high fatality rate that varies significantly between 24% and 88%, depending on the virus strain and the treatment options available.

3. Statement 3 is incorrect. The primary animal reservoir for the Marburg Virus is the Rousettus bat, particularly the Egyptian fruit bat. The transmission from animals to humans generally occurs through exposure to these bats, not solely through human bodily fluids.

Thus, the only correct statement is Statement 2, making Option C: 2 Only the correct choice.

Statement-I correctly describes the Subabul tree as a fast-growing leguminous tree found in tropical and subtropical climates, originating from Mexico and used for various purposes such as cover crop, fodder, and fuel. This information aligns with the characteristics of the Subabul tree as mentioned in the provided text.

However, Statement-II contains inaccurate information. Marburg Virus Disease (MVD) is not primarily transmitted through the air; instead, it is transmitted through direct contact with infected bodily fluids like blood, saliva, and more. MVD is caused by the Marburg virus, a filovirus closely related to the Ebola virus, and it does not spread through airborne transmission. Thus, Statement-II is incorrect in its assertion about the transmission method of MVD.

In response to the disappointing outcomes of the recent climate talks in Baku, Azerbaijan, small island states, among other developing nations, decided to escalate the matter by initiating legal proceedings at the International Court of Justice (ICJ). This action reflects their determination to address the persistent failure of developed nations to meet their climate finance commitments and emission reduction responsibilities. The move to seek an advisory opinion from the ICJ underscores the importance of legal implications regarding climate change obligations under international law.

1. International Court of Justice (ICJ) - Located in New York City

This pair is incorrectly matched. The International Court of Justice is located in The Hague, Netherlands, not New York City.

2. UNFCCC - Established in 1994

This pair is correctly matched. The United Nations Framework Convention on Climate Change was indeed established in 1994.

3. Paris Agreement - Adopted in 2015

This pair is correctly matched. The Paris Agreement was adopted in 2015 as part of the UNFCCC process.

4. Ratapani Tiger Reserve - Located in Maharashtra

This pair is incorrectly matched. The Ratapani Tiger Reserve is located in Madhya Pradesh, not Maharashtra.

Thus, only the second and third pairs are correctly matched, making the correct answer Option B: Only two pairs.