Daily Current Affairs MCQ- October 11, 2022 - UPSC MCQ

The Central government on refuted the news reports claiming inaccuracies in NHA and reduction in out-of-pocket expenditure by terming it “misleading and incorrect.”

• It provide detailed information on expenditure incurred within the health sector of the country. It is a tool to describe health expenditures and the flow of funds in both Government and private sector in the country.
• The NHA estimates are prepared by using an accounting framework based on the internationally accepted standard of System of Health Accounts, 2011, developed by the World Health Organization (WHO).
• NHA 2018-19 is the 6th round of estimates in the series of annual Health Accounts for India.
• It is published by the National Health Systems Resource Centre under the Ministry of Health and Family Welfare.

Hence both statements are correct.

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has notified the establishment of the Credit Guarantee Scheme for Startups (CGSS).

• CGSS is aimed at providing credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance eligible borrowers viz. Startups. This scheme would help provide collateral-free debt funding to startups
• The credit guarantee cover under the Scheme would be transaction-based and umbrella based.
  • In transaction-based guarantee cover, the guarantee cover is obtained by the MIs on single eligible borrower basis. It will promote lending by Banks/ NBFCs to eligible startups.
  • The umbrella-based guarantee cover will provide guarantee to Venture Debt Funds (VDF) registered under AIF regulations of SEBI.
• The exposure to individual cases would be capped at Rs. 10 crore per case or the actual outstanding credit amount, whichever is less.
• DPIIT will be constituting a Management Committee (MC) and a Risk Evaluation Committee (REC) for reviewing, supervising and operational oversight of the Scheme.
• The National Credit Guarantee Trustee Company Limited (NCGTC) will be operating the Scheme.

Hence only statement 1 is correct.

As per the MoP on appointment of Chief Justice of India (CJI) and Supreme Court Judges, the Minister of Law and Justice sent a letter to the CJI for sending his recommendations for appointment of his successor.

• The MoP is the playbook agreed upon by the government and the judiciary on the appointment of judges. It is a crucial document because the Collegium system of appointing judges is a judicial innovation that is not mandated through legislation or text of the Constitution.
• The MoP has evolved as the standard based on three decisions of the Supreme Court, known as the First Judges Case (1981), Second Judges Case (1993) and the Third Judges Case (1998). These three judgments form the basis of a peer selection process for the appointment of judges.
• The MoP was first drawn up in 1999. It was re-negotiated in 2016 following the Supreme Court’s decision to strike down National Judicial Appointments Commission (NJAC)
• MoP says that the “Union Minister of Law, Justice…would, at the appropriate time, seek the recommendation of the outgoing Chief Justice of India for the appointment of the next Chief Justice of India”.
• Although the MoP mentions an “appropriate time”, the process is by convention begun a month before the date of retirement of the incumbent CJI.

Hence both statements are correct.

CAQM held a review meeting to take stock of the status of commissioning of gas infrastructure/ PNG/ CNG connectivity in the NCR.

• Considering the compelling necessity to fight air pollution arising out of industrial activities and vehicles, CAQM has directed expeditious commissioning of gas infrastructure in the entire NCR well before the next winter season.
• According to the CAQM, about 74 per cent of industrial areas of NCR have gas connectivity like PNG which is cleaner and emits less pollutants as compared to the conventional fuel like coal or diesel.
• The panel directed the 11 city gas distributors to ensure that the gas infrastructure covers the entire NCR.
• The Commission for Air Quality Management (CAQM) was established under Air Quality Management in National Capital Region and Adjoining Areas Act,2021.

Hence both statements are correct.

The Reserve Bank of India (RBI) will soon commence pilot launches of Central Bank Digital Currency (CBDC), referred to as Digital Rupee (e₹), for specific use cases.

• The RBI in its concept note detailed various aspects including the technological measures to operationalise its electronic currency, its underlying digital infrastructure and various technological options the central bank is exploring.

E-Rupee

• e-RUPI is a cashless and contactless instrument for digital payment.
• It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.
• The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
• It has been developed by National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

Hence both statements are correct.

US aims to control China's chip industry with its Foreign Direct Product Rule (FDPR).

• Recently US officials applied FDPR to China's advanced computing and supercomputer industry to stop it from obtaining advanced computing chips.
• The foreign direct product rule, or FDPR, was first introduced in 1959 to control trading of US technologies.
• It essentially says that if a product was made using American technology, the US government has the power to stop it from being sold – including products made in a foreign country.

Hence both statements are correct.

The usage of the National Mobile Monitoring System (NMMS) is 50% or less in many states even after the Union government’s order making it mandatory to record attendance of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

• National Mobile Monitoring Software (NMMS) App was launched by the Minister of Rural Development on May, 21 2021.
• This app is aimed at bringing more transparency and ensure proper monitoring of the schemes.
• The NMMS App permits taking real time attendance of workers at Mahatma Gandhi NREGA worksites along with geo-tagged photograph.
• The app helps in increasing citizen oversight of the programme.
• The National Mobile Monitoring App is applicable for the Mahatma Gandhi NREGA workers for all the States/ Union Territories.

Hence only statement 2 is correct.

This year Maharishi Valmiki Jayanti is being celebrated on October 9.

• Maharishi Valmiki Jayanti celebrated every year on the full moon day of the month of Ashwin. This day is also popularly known as Pargat Diwas.
• It is observed as the birth anniversary of sage poet Maharishi Valmiki.
• He is considered as the first poet in the Sanskrit language. 
• He is credited with writing the Ramayana.
• One of the most famous temples dedicated to sage Maharishi Valmiki, is in Thiruvanmiyur, Chennai.

Hence both statements are correct.

India’s forex reserves have fallen by $110 billion in the last 13 months as the rising inflation, capital outflows and appreciating dollar created a turmoil in the foreign exchange market.

Foreign Exchange reserves or Forex reserves are assets such as foreign currencies, gold reserves, treasury bills, etc retained by a central bank or other monetary authority.

RBI is the custodian of the Foreign exchange reserves in India.

It checks the balance payments and influences the foreign exchange rate of its currency and maintains stability in financial markets.

Hence only statement 2 is correct.

The government has approved the creation of a Weapon System branch for officers in the Indian Air Force (IAF) which will bring all weapon systems operators of the force under one roof. 

• This is the first time since Independence that a new operational branch is being created.
• The IAF also unveiled a new digital camouflage uniform for its rank and file.
• Creation of the new branch would entail unification of all weapon system operators under one entity dedicated to the operational employment of all ground-based and specialist airborne weapon systems.
• This will essentially be for manning of four specialised streams of Surface to Surface missiles, Surface to Air Missiles, Remotely Piloted Aircraft and weapon system operators in twin and multi crew aircraft.
• Creation of this branch would result in savings of over ₹3,400 crore due to reduced expenditure on flying training.

Hence both statements are correct.