Daily Current Affairs MCQ- February 17, 2023 - UPSC MCQ

Recently, a scientist from the Zoological Survey of India, Western Regional Centre (WRC), Pune discovered a new beetle species.

• It is a necrophagous and also called a keratin beetle.
• This species belongs to the Trogidae family. With the addition of this new species, now there are a total of 14 extant species of this family in India.
• The beetles of this group are sometimes called hide beetles as they tend to cover their body under the soil and hide.
• It is mainly associated with bird and mammal nests or burrows.
• The arthropods which feed directly on dead remains and constitute are called necrophagous.

Hence, option (b) is the correct answer

Ministry of Culture is organising the First G20 Culture Group (CWG) meeting in Khajuraho, Madhya Pradesh from 22nd to 25th February 2023.

• Khajuraho is an ancient city known for its majestic temples and elaborate sculptures.
• The Khajuraho Group of Monuments is a UNESCO World Heritage Site which was constructed by the Chandela Dynasty between 950-1050 AD.
• These monuments are built in Nagara-style architecture and ornamented with intricate and detailed sculptures.
• The monuments include Hindu and Jain temples.
• According to historical records, there were 85 temples in the temple site in Khajuraho, covering 20 square kilometres, in the 12th Century AD.

Hence only statement 2 is correct.

A four-day bird survey conducted by the forest department has identified 231 species of birds in the Periyar Tiger Reserve, of which 11 species of birds were not recorded during the previous surveys.

About Periyar Tiger Reserve:

• Location: It is located in the Western Ghats of Kerala.
• It was declared a Tiger Reserve in 1978.
• It gets its name from the River Periyar which has its origin deep inside the reserve.
• Two main rivers, Pamba and Periyar drain the reserve.
• It is home to many tribal communities including the Mannans and the Palians.
• Terrain: Hilly and undulating with a maximum altitude of 2016 m.
• Vegetation: It consists of tropical evergreen, semi- evergreen and moist deciduous forests. 
• Flora:
• There are more than 171 species of grasses.
• Important flora includes teak, mangoes, rosewood, jamun, jacarandas, terminalias, tamarind, royal ponciana, bamboos etc.
• Fauna:
• Includes Elephants, Wild Pigs, Sambar, Gaur, Mouse Deer, Dole or Barking Deer, Indian Wild Dog and Tiger.
• The major four species of primates are also found at Periyar - the rare lion-tailed macaque, the Nilgiri Langur, Gee's Golden Langur, Common Langur and Bonnet Macaque.
• It Is also being considered as the habitat of the elusive Nilgiri Tahr.

Hence both statements are not correct.

The Central Government listed 7 priorities – called ‘Saptarishi’ in Budget 2023- inclusive development, Last mile delivery, Infrastructure, Green growth, Youth power, Unleashing potential, and Financial inclusion.

Key Initiatives under Financial Inclusion:

Credit Guarantee for MSMEs:

• The revamped Credit Guarantee scheme will take effect from 1st April 2023 through infusion of ` 9,000 crores in the corpus.
• This will enable additional collateral-free guaranteed credit of ` 2 lakh crore.
• The cost of the credit will be reduced by about 1 percent.
• What is the Credit Guarantee Scheme for Micro and Small Enterprises (CGS)?
• CGS was launched by the Government of India (GoI) to make available collateral-free credit to the micro and small enterprise sectors. 
• Both the existing and the new enterprises are eligible to be covered under the scheme.
• The Ministry of Micro, Small and Medium Enterprises, GoI, and Small Industries Development Bank of India (SIDBI), established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement the CGS. 

Hence only statement 2 is correct.

The Central Government listed 7 priorities – called ‘Saptarishi’ in Budget 2023- inclusive development, Last mile delivery, Infrastructure and Investment, Green growth, Youth power, Unleashing potential, and Financial inclusion.

Key Initiatives under Unleashing the potential:

Simplification of Know Your Customer (KYC) process:

• The KYC process will be simplified by adopting a ‘risk-based’ instead of a ‘one size fits all’ approach.
• The financial sector regulators will also be encouraged to have a KYC system fully amenable to meet the needs of Digital India.
• What is KYC?
• KYC is an effective way for an institution to confirm and thereby verify the authenticity of a customer.
• All financial institutions are mandated by the RBI to do the KYC process for all customers before giving them the right to carry out any financial transactions.

Hence only statement 1 is correct.

Recently, the State Bank of India, Bank of Baroda and Indian Overseas Bank have raised their marginal cost of fund-based lending rates (MCLR) by up to 15 basis points. 

• It is the minimum interest rate below which no bank is permitted to lend money.
• It is determined by banks internally, depending upon the loan repayment time.
• The Reserve Bank of India introduced the MCLR methodology for fixing interest rates on 1 April 2016.
• It replaced the base rate structure, which had been in place since July 2010.
• The rate is determined internally by the bank depending on the period left for the repayment of a loan.
• MCLR is calculated based on four components Marginal cost of fund, Negative carry on account of cash reserve ratio, Operating costs, and Tenor premium.

Hence only statement 1 is correct.

Recently, the Cabinet Committee on Security (CCS) approved the raising of seven new battalions of the Indo-Tibetan Border Police (ITBP) force.

• Indo-Tibetan Border Police is one of the Central Armed Police Forces of India.
• It is a specialized mountain force and most of the officers and men are professionally trained mountaineers and skiers.
• Origin: It was raised in 1962, in the wake of the Sino-Indian War of 1962 for deployment along India's border with China's Tibet Autonomous Region.
• Status: ITBP was initially raised under the CRPF Act. However, in 1992, parliament enacted the ITBPF Act and the rules there under were framed in 1994.
• The motto of the Force: “Shaurya-Dridhata-Karma Nishtha” (Valour – Determination – Devotion to Duty).
• Nodal Ministry: Ministry of Home Affairs.

Hence only statement 1 is correct.

The Investor Education and Protection Fund Authority (IEPFA), will organise a State Level Conference on Financial Literacy in Amrit Kaal - Empowering Investors in association with the Department of Tourism in Aizawl.

• It was established in 2016 under the Companies Act, of 2013.
• The Authority is entrusted with;
  • The responsibility of administration of the Investor Education Protection Fund (IEPF).
  • Make refunds of shares, unclaimed dividends, matured deposits/debentures etc. to investors and promote awareness among investors.
• Nodal Ministry: Ministry of Corporate Affairs.

Hence both statements are correct.

Scientists studying Antarctica's Thwaites Glacier say warm water is seeping into its weak spots, worsening melting caused by rising temperatures.

About Thwaites Glacier:

• Thwaites glacier, nicknamed the “Doomsday glacier,” is a fast-moving glacier in West Antarctica.
• It covers an area roughly the size of Great Britain.
• It is 120 km wide at its broadest.
• The glacier is rapidly losing ice to the ocean in response to climate change and changes in ocean circulation.
• It loses more than 50 billion tons of ice to the ocean yearly, contributing to about 4% of the annual sea level rise.
• The glacier holds enough water to raise global sea levels by 65 centimeters.
• It has retreated by about 14 kilometers since the late 1990s.
• It also acts as a buffer, holding back neighboring glaciers that contain around three meters of potential sea level rise.

Hence option b is the correct answer.

The Central Government listed 7 priorities – called ‘Saptarishi’ in Budget 2023- inclusive development, Last mile delivery, Infrastructure, Green growth, Youth power, Unleashing potential, and Financial inclusion.

Key Initiatives under Green Growth:

MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes):

• MISHTI initiative will facilitate mangrove plantations along India’s coastline and on saltpan lands.
• It will operate through “convergence between MGNREGS, Campa Fund, and other sources.”
• The initiative aims at the intensive afforestation of coastal mangrove forests.

Hence option c is the correct answer.