Daily Current Affairs MCQ: 27th October 2024 - UPSC MCQ

1. Sensex - Bombay Stock Exchange (BSE): Correctly matched. The Sensex, or the BSE Sensex, is a stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange (BSE).

2. Abhay - Anti-Submarine Warfare Shallow Water Craft: Correctly matched. Abhay is indeed an Anti-Submarine Warfare Shallow Water Craft (ASW SWC) constructed by Garden Reach Shipbuilders & Engineers (GRSE) and is part of a series of such vessels.

3. Triton Island - Located in the Indian Ocean: Incorrectly matched. Triton Island is not located in the Indian Ocean. It is part of the Paracel Islands in the South China Sea, which is a region of geopolitical significance.

4. Cybersquatting - Related to Trademark Infringement: Correctly matched. Cybersquatting involves registering or using domain names with the intent to profit from someone else's trademark, and it is considered a form of trademark infringement.

Thus, three pairs are correctly matched: pairs 1, 2, and 4.

The Pandemic Fund Project aims at strengthening animal health security in India for pandemic preparedness and response. This initiative focuses on enhancing and expanding animal health laboratories, establishing laboratory networks, improving disease surveillance, facilitating laboratory infrastructure development, and promoting cross-border cooperation to monitor and manage zoonotic diseases effectively. By bolstering animal health security, the project contributes significantly to the country's preparedness against potential pandemics and enhances overall public health measures.

- Statement 1 is correct. Foreign Portfolio Investors (FPIs) have indeed withdrawn a significant amount of funds, Rs 85,790 crore in October, contributing to the downturn in the Indian stock market.

- Statement 2 is correct. The Sensex has experienced the steepest decline among major global indices, with a 7.5% fall over the past month, indicating that it has indeed recorded one of the largest monthly declines.

- Statement 3 is incorrect. The high valuations of small- and mid-cap stocks, along with liquidity shortages, have not resulted in a performance boost. Instead, these factors have led to a decline in their performance, as retail investors shifted funds toward IPOs, causing over 8% decrease for small- and mid-cap stocks.

Thus, the correct answer is Option B.

The primary objective of the Ministry of Electronics and Information Technology's advisory is to urge social media platforms to take responsibility by promptly removing any posts related to bomb threats. This measure aims to mitigate the alarming proliferation of hoax bomb threats that have been affecting various airlines, leading to substantial delays and financial losses. By ensuring the swift removal of such content, the advisory seeks to address the misuse of social media features that facilitate the spread of these threats, ultimately enhancing aviation security and public safety.

1. ICAO Annex 17: Correctly matched. It indeed mandates global actions against unlawful interference in civil aviation. It provides the framework for aviation security protocols internationally.

2. Bureau of Civil Aviation Security (BCAS): Incorrectly matched. BCAS is responsible for setting security standards for civilian flights, not overseeing flight safety. The Directorate General of Civil Aviation (DGCA) is responsible for flight safety.

3. Information Technology Act, 2000: Correctly matched. It is a legal framework that includes provisions for managing and mitigating threats on social media, including bomb threats, by mandating the removal of harmful content.

4. Great Indian Bustard: Correctly matched. It is listed under Appendix 1 of CITES, which includes species that are threatened with extinction and are provided the highest level of protection.

Thus, three pairs are correctly matched.

1. Chandrayaan-1: Confirmed the presence of water on the Moon - Correct. Chandrayaan-1 was India's first lunar probe, and it confirmed the presence of water molecules on the Moon's surface.

2. Gaganyaan: Scheduled for 2025 - Incorrect. The Gaganyaan mission, India's first manned space mission, is scheduled for 2026, not 2025.

3. LUPEX/Chandrayaan-5: Collaborative project with NASA - Incorrect. The LUPEX mission is a collaborative project with Japan's space agency JAXA, not NASA.

4. NISAR: US-India joint mission for radar imaging - Correct. NISAR (NASA-ISRO Synthetic Aperture Radar) is indeed a joint mission between NASA and ISRO aimed at using radar imaging to monitor natural resources and hazards.

Statement-I is incorrect because coking coal is not primarily used for generating electricity; instead, it is crucial in steel production due to its properties that make it suitable for producing metallurgical coke, essential in the steelmaking process. Statement-II is correct as it accurately describes the key characteristics of coking coal in comparison to thermal coal.

Statement-I is accurate as it reflects the advisory issued by the Ministry of Electronics and Information Technology regarding managing threats against flights from India due to hoax bomb threats on social media. Statement-II is also correct, detailing the successful birth of a baby Great Indian Bustard through Artificial Insemination in Rajasthan. However, these statements are not directly related or explanatory of each other, making option (b) the correct choice.

Statement 1 is correct. The Pandemic Fund Project is indeed valued at $25 million and is supported by the G20 Pandemic Fund. This aligns with the project's goal to strengthen animal health security in India.

Statement 2 is incorrect. While the project aims to establish laboratory networks and enhance laboratories, it is in collaboration with international organizations such as the Asian Development Bank (ADB), the World Bank, and the Food and Agriculture Organization (FAO), not specifically with domestic private enterprises.

Statement 3 is correct. The initiative includes upgrading data management systems, which is an integral part of improving analytics capabilities and enhancing decision-making processes regarding animal health risks.

Thus, the correct statements are 1 and 3, making Option C the correct answer.

The stock market in India primarily operates as a regulated, centralized platform that facilitates interactions between companies and investors. It enables companies to raise capital through share sales while providing investors opportunities for profit and growth. This mechanism supports business growth and investment by connecting those seeking capital with those willing to invest, thereby playing a crucial role in the economy's financial ecosystem.