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Daily Current Affairs MCQ: 22nd September 2024 - UPSC MCQ


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10 Questions MCQ Test Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - Daily Current Affairs MCQ: 22nd September 2024

Daily Current Affairs MCQ: 22nd September 2024 for UPSC 2024 is part of Current Affairs & Hindu Analysis: Daily, Weekly & Monthly preparation. The Daily Current Affairs MCQ: 22nd September 2024 questions and answers have been prepared according to the UPSC exam syllabus.The Daily Current Affairs MCQ: 22nd September 2024 MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Daily Current Affairs MCQ: 22nd September 2024 below.
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Daily Current Affairs MCQ: 22nd September 2024 - Question 1

Consider the following statements:

1. The credit growth of Indian banks is projected to decline to 14% in the current financial year from 16% in the previous year.

2. India's credit-to-GDP ratio is higher than that of other Asian nations with similar income levels.

3. The decrease in the share of Current and Savings Accounts (CASA) within total deposits has worsened the liquidity crisis in Indian banks.

Which of the statements given above is/are correct?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 1

Let's analyze each statement:

1. The credit growth of Indian banks is projected to decline to 14% in the current financial year from 16% in the previous year.

  • This statement is correct. Reports indicate that the credit growth is indeed projected to decline to 14% this financial year, compared to 16% last year.

2. India's credit-to-GDP ratio is higher than that of other Asian nations with similar income levels.

  • This statement is incorrect. India's credit-to-GDP ratio is actually lower than that of other Asian nations with similar income levels, such as Thailand, Malaysia, and China.

3. The decrease in the share of Current and Savings Accounts (CASA) within total deposits has worsened the liquidity crisis in Indian banks.

  • This statement is correct. The growing disparity between credit and deposit growth, exacerbated by a decrease in CASA share, has led to a liquidity crisis.

Therefore, statements 1 and 3 are correct, while statement 2 is incorrect.

Thus, the correct answer is Option C: 1 and 3 Only.

Daily Current Affairs MCQ: 22nd September 2024 - Question 2

What is the primary goal of the Quad, also known as the Quadrilateral Security Dialogue?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 2

The primary goal of the Quad, or Quadrilateral Security Dialogue, is to maintain a free and open international order governed by law in the Indo-Pacific region. This involves cooperation among India, Australia, the US, and Japan to enhance maritime security, address global challenges, combat climate change, foster technological innovations, and create favorable conditions for investment in the region.

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Daily Current Affairs MCQ: 22nd September 2024 - Question 3

What is the main reason behind the controversy surrounding the Tirupati Laddu recently mentioned in the news?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 3

The recent controversy surrounding the Tirupati Laddu primarily revolves around quality concerns raised by a company that supplied ghee to the famous Tirupati Balaji temple. This issue has sparked discussions about the quality and authenticity of products offered at the temple, a significant aspect of the recent news coverage.

Daily Current Affairs MCQ: 22nd September 2024 - Question 4

Consider the following pairs:

1. Malabar Exercise - First joint military drill with all four Quad nations since 2007

2. Quad Wilmington Declaration - Focuses on advancing the Quad agenda and cooperation

3. Quad Cancer Moonshot - Initiative to tackle lung cancer in the Indo-Pacific region

4. Maritime Initiative for Training in the Indo-Pacific (MAITRI) - Aims to improve regional partners' utilization of tools from the Indo-Pacific Maritime Domain Awareness

How many pairs given above are correctly matched?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 4

1. Malabar Exercise - Correctly matched. The Malabar Exercise in November 2020 marked the first joint military drill with all four Quad nations since 2007.

2. Quad Wilmington Declaration - Correctly matched. The Quad Wilmington Declaration focuses on advancing the Quad agenda and cooperation among member nations.

3. Quad Cancer Moonshot - Incorrectly matched. The Quad Cancer Moonshot initiative focuses initially on cervical cancer, not lung cancer, in the Indo-Pacific region.

4. Maritime Initiative for Training in the Indo-Pacific (MAITRI) - Correctly matched. This initiative aims to improve regional partners' utilization of tools from the Indo-Pacific Maritime Domain Awareness.

Thus, pairs 1, 2, and 4 are correctly matched, while pair 3 is incorrectly matched.

Answer: Option B: Only two pairs

Daily Current Affairs MCQ: 22nd September 2024 - Question 5

Consider the following pairs:

1. Private Gross Fixed Capital Formation (GFCF) in Q4 FY24: 6.46%

2. Credit growth projection for the financial year: 14%

3. India's credit-to-GDP ratio compared to peers: Higher than Thailand, Malaysia, and China

4. Gold imports in August 2024: $10.1 billion

How many pairs given above are correctly matched?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 5

1. Private Gross Fixed Capital Formation (GFCF) in Q4 FY24: 6.46% - Correctly matched. In the fourth quarter of FY24, the private GFCF fell to a four-quarter low of 6.46%.

2. Credit growth projection for the financial year: 14% - Correctly matched. Reports indicate that credit growth is projected to decline to 14% this financial year.

3. India's credit-to-GDP ratio compared to peers: Higher than Thailand, Malaysia, and China - Incorrectly matched. India's credit-to-GDP ratio is actually lower than that of other Asian nations with similar income levels, such as Thailand, Malaysia, and China.

4. Gold imports in August 2024: $10.1 billion - Correctly matched. India's gold imports skyrocketed to a record $10.1 billion in August 2024.

Thus, the correctly matched pairs are 1, 2, and 4, which means only two pairs are correctly matched.

Daily Current Affairs MCQ: 22nd September 2024 - Question 6
What factor has contributed significantly to the widening trade deficit in India as reported in recent months?
Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 6
The significant surge in gold imports has played a pivotal role in contributing to the widening trade deficit in India. This surge, attributed to various factors such as cuts in gold import duties and rising gold prices, has impacted the trade balance by increasing the overall import bill. Gold imports have more than doubled in recent months, influencing the trade deficit dynamics and contributing to the economic landscape.
Daily Current Affairs MCQ: 22nd September 2024 - Question 7

Consider the following pairs:

1. Mahadwaram - Entrance to the inner sanctum of Tirupati Balaji Temple

2. Ananda Nilayam - The main deity of Tirupati Balaji Temple

3. Chola Dynasty - Contributed to the growth and support of Tirupati Balaji Temple

4. Tirupati Laddu - Prasad offered at Tirupati Balaji Temple with a GI tag

How many pairs given above are correctly matched?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 7

1. Mahadwaram - Entrance to the inner sanctum of Tirupati Balaji Temple (Correct)

2. Ananda Nilayam - The main deity of Tirupati Balaji Temple (Incorrect)

3. Chola Dynasty - Contributed to the growth and support of Tirupati Balaji Temple (Correct)

4. Tirupati Laddu - Prasad offered at Tirupati Balaji Temple with a GI tag (Correct)

Thus, three pairs are correctly matched.

Daily Current Affairs MCQ: 22nd September 2024 - Question 8

Consider the following statements:

Statement-I:
Debt Recovery Tribunals (DRTs) are special courts set up under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

Statement-II:
Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 allows banks and financial institutions to recover secured debts from borrowers without needing to go to court initially.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 8


Statement-I correctly defines the purpose and establishment of Debt Recovery Tribunals (DRTs) under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
Statement-II accurately describes the provision of the Securitisation and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002, allowing banks and financial institutions to recover secured debts without immediate court intervention. However, this statement is not directly explaining the establishment of DRTs as in Statement-I. Instead, it provides related information about the recovery process, making both statements correct but not interdependent.

Daily Current Affairs MCQ: 22nd September 2024 - Question 9

Consider the following statements:

Statement-I:
India's trade deficit has widened significantly in recent months due to a decrease in export values and a surge in imports, posing challenges to the economy.
Statement-II:
India's services exports have grown by over 10% from April to August 2024, providing stability and acting as a buffer against the widening trade deficit, positively contributing to the economy.
Which one of the following is correct in respect of the above statements?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 9


Statement-I correctly highlights the recent challenges faced by India's economy due to the widening trade deficit caused by a decrease in export values and a surge in imports. Statement-II accurately notes the positive growth in India's services exports, which have provided stability and acted as a buffer against the trade deficit. However, Statement-II does not directly explain the reasons behind the widening trade deficit mentioned in Statement-I. Instead, it provides additional context related to India's services exports. Therefore, both statements are correct, but Statement-II does not explain Statement-I.

Daily Current Affairs MCQ: 22nd September 2024 - Question 10

Consider the following statements regarding the Tirupati Balaji Temple:

1. The Tirupati Balaji Temple is located in the Chittoor district of Andhra Pradesh.

2. The temple's construction is believed to have begun around 300 AD in the Dravidian architectural style.

3. The famous Tirupati Laddu offered as prasad at the temple has a Geographical Indication (GI) tag.

Which of the statements given above is/are correct?

Detailed Solution for Daily Current Affairs MCQ: 22nd September 2024 - Question 10

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