Daily Current Affairs MCQ- March 24, 2023 - UPSC MCQ

A new analysis of genetic data collected from the Huanan Seafood Market in Wuhan, China, has linked coronavirus to raccoon dogs, adding evidence to the belief that the pandemic might have originated from the infected animals sold at the site.

• Raccoon dogs belong to the canid family and are closely related to foxes.
• They are the only canids that hibernate during the winter.
• As per Slate, there are two species of raccoon dogs: “Nyctereutes procyonoides, the common raccoon dog (the species that was in the Wuhan market) and Nyctereutes p. viverrinus, the Japanese raccoon dog.”
• They are omnivores and relish food sources such as rodents and berries.
• Raccoon dogs are originally from East Asia and are commonly found in parts of China, Korea and Japan, where they are known as tanuki.

Hence only statement 2 is correct.

Recently, Carnatic vocalist Bombay Jayashri has been selected for the Sangita Kalanidhi award of the Music Academy for 2023.

• It is considered the highest award in the field of Carnatic music.
• The award is conferred by the Madras Music Academy.
• The award comprises a gold medal and a birudu patra (citation).
• It is a landmark institution in the history of the fine arts. It emerged as an offshoot of the All India Congress Session held in Madras in December 1927.
• Carnatic music is commonly associated with southern India including the states of Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu, but also practised in Sri Lanka.
• It is one of two major genres of Indian classical music that evolved from ancient Hindu traditions, the other being Hindustani music, which emerged as a distinct form in northern India as a result of Persian and Islamic influences.

Hence both statements are not correct.

Banks expect overnight rates to edge higher at the end of the month as advance tax and goods and services tax (GST) payments should cause liquidity shrinkage.

• LTRO is a tool that allows banks to borrow one to three years of funds from the Central Bank at the Repo rate.
• It is called ‘Targeted’ LTRO if the Central Bank wants banks opting for funds under this option to be specifically invested in investment-grade corporate debt.
• LTRO was first introduced by the European Central Bank (ECB) during its sovereign debt crisis that began in 2008.

Hence both statements are correct.

Findings of a recent scientific review found that physical exercise can help to improve the severity of movement-related symptoms and the quality of life in people with Parkinson’s Disease.

About Parkinson’s Disease:

• It is a progressive neurological disorder that affects the nervous system and the parts of the body controlled by the nerves. 
• It is a condition in which a patient holds limited or no control over his movements and body balance. 
• It occurs and progresses with ageing, but in rare cases, it is also witnessed among children and teenagers as well. 
• It has no cure.
• Many studies have suggested that men are more likely to be affected by Parkinson’s than women.
• Cause:
• It is caused by the degeneration of nerve cells in the part of the brain called the substantia nigra, which controls movement.
• These nerve cells die or become impaired, losing the ability to produce an important chemical called dopamine.
• Dopamine operates with other neurotransmitters to help coordinate the millions of nerve and muscle cells involved in the movement.
• Symptoms:
• Tremors (trembling in the hands, arms, legs, and jaw); rigidity (stiffness of the limbs); slowness of movement; and impaired balance and coordination.
• Parkinson’s patients may also experience other symptoms such as difficulty in swallowing, chewing, and speaking, urinary problems, constipation, skin problems, depression, emotional changes, and sleep disruption.
• Currently, no blood laboratory or radiological tests are available to diagnose Parkinson’s disease. 

Hence only statement 2 is correct.

The Reserve Bank of India (RBI) Governor recently said that the TReDS platform introduced in 2014 for MSMEs to finance or discount their invoices — finances around 35,000 factoring units (FUs) monthly.

About Trade Receivables Discounting System (TReDS) platform:

• It is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small, and Medium Enterprises (MSMEs) through multiple financiers. 
• These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).
• Purpose: To allow MSME sellers to discount invoices raised against major corporations, which helps them manage their working capital demands. The platform enables MSMEs to receive payments more quickly.
• Participants:
• Sellers, buyers, and financiers are the participants on a TReDS platform.
• Only MSMEs can participate as sellers in TReDS.
• Corporates, Government Departments, PSUs, and any other entity can participate as buyers in TReDS.
• Banks, NBFC - Factors, and other financial institutions, as permitted by the RBI, can participate as financiers in TReDS.
• RBI has not made it compulsory for any buyer, seller, or financier to participate in TReDS. 
• The Government has made it compulsory for certain segments of companies to mandatorily register as buyers on the TReDS platform(s). The government directive, however, does not make it compulsory for these entities to perform transactions in TReDS.
• How does TReDS work?
• Creation of a Factoring Unit (FU) - standard nomenclature used in TReDS for invoice(s) or bill(s) of exchange - containing details of invoices/bills of exchange.
• Acceptance of the FU by the counterparty - buyer or the seller, as the case may be;
• Bidding by financiers;
• Selection of best bid by the seller or the buyer, as the case may be;
• Payment made by the financier (of the selected bid) to the MSME seller at the agreed rate of financing/discounting;
• Payment by the buyer to the financier on the due date.

Hence both statements are correct.

The Intergovernmental Panel on Climate Change (IPCC) will soon release its latest Synthesis Report under the Sixth Assessment Cycle, which will have a comprehensive review of global knowledge of the climate.

About Intergovernmental Panel on Climate Change (IPCC):

• The IPCC is the United Nations body for assessing the science related to climate change.
• It was established by the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP) in 1988.
• Membership: It has 195 Member countries.
• Objective: To assess scientific, technical, and socio-economic information relevant to the understanding of human-induced climate change, potential impacts of climate change, and options for mitigation and adaptation.
• The main activity of the IPCC is the preparation of reports assessing the state of knowledge of climate change. These include assessment reports, special reports and methodology reports. 
• The assessment reports are a key input into the international negotiations to tackle climate change. 
• The IPCC does not itself engage in scientific research. Instead, it asks scientists from around the world to go through all the relevant scientific literature related to climate change and draw up logical conclusions.
• What are the IPCC working groups? It comprises three working groups, which focus on different aspects of climate science and climate change response. 
• Working Group I: looks at the physics of climate change;
• Working Group II: examines climate change impacts and adaptation;
• Working Group III: focuses on climate change mitigation;
• The three working groups release separate reports, which are then compiled into a synthesis report.

Hence both statements are not correct.

Recently, Carborundum Universal Limited (CUMI), a private sector pioneer in material sciences, has signed a “Licensing Agreement for Transfer of Technology” with the Defence Research and Development Organisation (DRDO) for manufacturing ceramic radomes used in aerospace and missile systems.

• Ceramic Radome Technology is the state-of-the-art technology for Missiles across the world. ASTRA/ QRSAM, high Mach missiles experience high surface temperatures during their traverse due to atmospheric thermal heating.
• To mitigate the thermal heating, Ceramic is considered a radome material.
• Ceramic Radome fabrication is a two-stage process, gel-casting followed by sintering.
• Ceramics are classified as inorganic and nonmetallic materials that are essential to our daily lifestyle.
• Properties of ceramics: In general, ceramics are corrosion-resistant, hard, and brittle. The majority of ceramics are also excellent insulators and can withstand high temperatures.
• Radomes are structures or enclosures designed to protect an antenna and associated electronics from the surrounding environment and elements such as rain, snow, UV light, and strong wind.

Hence both statements are correct.

Recently, the Union Minister for Agriculture and Farmers Welfare has directed NAFED to contribute to and promote the 'International Year of the Millet' 2023 on a global scale.

• NAFED is an apex organization of marketing cooperatives for agricultural produce in India.
• It was founded on 2 October 1958 to promote the trade of agricultural produce and forest resources across the nation.
• It is registered under Multi State Co-operative Societies Act.
• With its headquarters in New Delhi, NAFED has four regional offices in Delhi, Mumbai, Chennai and Kolkata, apart from 28 zonal offices in capitals of states and important cities.
• It is the nodal agency to implement price stabilization measures under "Operation Greens" which aims to double the farmers' income by 2022.
• Nodal Ministry: Ministry of Agriculture

Hence only statement 1 is correct.

Google Doodle is celebrating the Iranian New Year Navroz, a festival that is celebrated by Parsis all across the globe. 

• Navroz is an Iranian and Persian New year. The word ‘now’ means ‘new’ and roz means ‘day’. Therefore, the word translates to a new day.’ 
• It marks the beginning of the spring season and is celebrated with great fervour by members of the Parsi community across the globe.
• The festival of Nowruz is named after the Persian king, Jamshed, who is credited for creating the Persian or the Shahenshahi calendar. 
• It is said that the festival came to India courtesy of an 18th-century wealthy tradesman from Surat, Nusservanji Kohyaji, who often travelled to Iran and began celebrating Nowruz in India.
• It is listed in the list of UNESCO Intangible Cultural Heritage of Humanity of India.
• In India, the festival is observed around August 16-17 by the Parsi community following the Shahenshahi calendar which does not account for leap years.

Hence both statements are correct.

Recently, Interpol has withdrawn the Red Corner Notice (RCN) issued against Mehul Choksi.

• The mandate of The International Police Organisation (Interpol): It is an international organization facilitating international police cooperation against cross-border terrorism, trafficking, and other crime.
• Governance: All decisions regarding the activities of INTERPOL are made by the General Assembly which is its supreme governing body which meets annually.
• Status: It is ‘NOT’ a unit or part of a united nation system. It is an independent international organization.
• National Central Bureau (NCB):
• It has a National Central Bureau (NCB) in each member country, which is the central point of contact for both the general secretariat and the other NCBs around the world.
• Each NCB is run by police officials of that country and usually sits in the government ministry responsible for policing. (Union Home Ministry in India.)
• Central Bureau of Investigation (CBI) represents Interpol in India as the country's national central bureau.

Hence both statements are not correct.