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

The Malabar naval exercise, the most visible manifestation of the expanding military interoperability among the Quad countries, will be conducted off Australia for the first time this August.

• It was started in 1992 as a bilateral naval exercise between India and US navy.
• The first Malabar Exercise in the Bay of Bengal took place in 2007.
• It was expanded into a trilateral format with the inclusion of Japan in 2015.
• In 2020, the Australian Navy joined the Malabar Exercise, making it a quadrilateral naval exercise.
• The aim of the Malabar Exercise of India, the US, Japan and Australia is to coordinate for a free, open, and inclusive Indo-Pacific.
• It takes place annually in the Indian Ocean and Pacific Oceans alternatively.

Hence only statement 2 is correct.

Banks and non-banking financial companies (NBFCs) have almost paused tie-ups with fintech players under the first loan default guarantee (FLDG) structure for lending in the absence of clarity on contractual agreements from the Reserve Bank of India (RBI).

• What is it? FLDG is a lending model between a fintech and a regulated entity in which a third party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entities (RE).
• Under these agreements, the fintech originates a loan and promises to compensate the partners up to a pre-decided percentage in case customers fail to repay.
• The bank/NBFC partners lend through the fintech but from their books.
• FLDG helps expand the customer base of traditional lenders but relies on the fintech's underwriting capabilities.

Hence both statements are not correct.

Recently, the Union Agriculture and Farmers Welfare Minister chaired the National Conference on Agriculture for Zaid (Summer) Campaign-2023 in New Delhi.

• Zaid or summer crops are grown in the short season between Kharif and Rabi crops, between March and July.
• These crops are mostly grown on irrigated lands and therefore, the farmers do not wait for the monsoon.
• Zaid crops require warm soil and high temperatures (cooling at night) to grow.
• They require warm, dry weather as a vital growth period and longer day length for flowering.
• Most of the vegetables and hybrid cereals are grown in the zaid season.
• Major crops: Paddy, corn; pumpkin, cucumber, tomato; almonds, peanuts, cashews; Gram, lentils, etc.
• Cultivation areas in India: Uttar Pradesh, Punjab, Haryana, Gujarat, and Tamil Nadu.

Hence both statements are correct.

A new report by the European Union (EU) investigating has confirmed that the destruction of fish in the River Oder in Poland was caused by the toxic algal bloom Prymnesium parvum made possible by anthropogenic factors.

• It is a microscopic, single-celled alga with four morphologically distinct forms.
• Three of the forms are scaled, bi-flagellated, and have a flexible, non-coiling, needle-like filament called a haptonema and the fourth form is a scaled, non-motile, siliceous cyst. 
• It inhabits a variety of water bodies including rivers, lakes, estuaries, fjords, coastal oceans, and ponds, including eutrophic, alkaline, and brackish waters.
• It can reproduce rapidly and form a nearly monocultural bloom by releasing toxins into the water that immobilize or kill zooplankton and other phytoplankton to increase available food sources.
• It can survive in a range of water temperatures, from 5°C to 35°C, with blooms increasing between 10°C to 27°C.

Hence only statement 2 is correct.

Recently, the Tamil Nadu Wildlife Crime Control Bureau imposed a fine of Rs 2.5 lakh on a film actor for keeping two Alexandrine parakeets at his residence.

• It is named after Alexander the Great, who transported numerous birds from Punjab to various European and Mediterranean countries and regions.
• These birds are highly intelligent and are known to be excellent talkers, making them very popular pets.
• These parakeets are diurnal social birds. They usually live in small flocks but form larger groups in areas where food is abundant or at communal roosts.
• They are widespread in South and South-East Asia where they live in forests, woodlands, agricultural lands, and mangrove forests.
• Conservation status:
• IUCN: Near Threatened
• Wildlife Protection Act, 1972: Schedule IV

Hence only statement 1 is correct.

Union Education Minister recently launched an innovative learning material for foundational years of children called "Jaadui Pitara".

About ‘Jaadui Pitara’:

• The ‘Jaadui Pitara’ or ‘Magic Collection is a play-based learning material for children in the age group of three to eight years.
• It is launched by the Union Ministry of Education.
• It has been designed on the motto of ''learning through play'', as envisaged in the new National Education Policy (NEP).
• It comprises of playbooks, toys, puzzles, posters, flashcards, storybooks, and worksheets, as well as reflecting the local culture, social context, and languages.
• It is designed to pique curiosity and accommodate the diverse needs of learners at the foundational stage.
• It is developed under the  curricular goals of National Curriculum Framework for Foundational Stage (NCF-FS) as recommended by the National Education Policy (NEP) 2020. 
• The resources on ‘Jaadui Pitara’ will be digitally available on DIKSHA platform – portal and mobile app. 
• The pitara is available in 13 Indian languages.

Hence both statements are not correct.

State-owned hydropower giant National Hydroelectric Power Corporation Ltd (NHPC) recently raised Rs 996 crore through the issuance of non-convertible bonds on private placement basis.

• A private placement is a sale of bonds to select investors and institutions instead of the open market. 
• Typically, a private placement is defined as an issuance of securities to less than 50 persons.
• Investors in privately placed bonds usually include wealthy individuals and entities, mutual fund providers, insurance companies, and banking and financial institutions.
• Unlike a public offering, private placements are exempt from having to file an offer document with the Securities and Exchange Board of India (SEBI) for comments.
• A private placement may not involve any form of general announcement, solicitation, advertising, seminar, or meeting to publicize such an offering.
• Advantages:
• It is a cost and time-effective method of raising funds.
• It can be structured to meet the needs of entrepreneurs and investors.
• It has easier compliance formalities.
• In India, the majority of corporate fund raises have been through private placement.
• Issue of securities through private placement route is governed by SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

Hence only statement 2 is correct.

Rajya Sabha Chairman recently asked the committee of privileges to investigate the alleged breach of privilege by 12 opposition lawmakers for repeatedly entering the well of the House, shouting slogans, and obstructing its proceedings.

About Committee of Privileges:

• This committee consists of 15 members in Lok Sabha ( 10 in case of Rajya Sabha) nominated by the Speaker (Chairman in case of Rajya Sabha).
• In the Rajya Sabha, the deputy chairperson heads the committee of privileges.
• Powers and Functions:
• The committee examines every question involving a breach of privilege of the House or of the members or of any Committee thereof referred to it by the House or by the Speaker/Chairman. 
• It also determines with reference to the facts of each case whether a breach of privilege is involved and makes suitable recommendations in its report.
• It also states the procedure to be followed by the House in giving effect to its recommendations.
• When a question of privilege is referred to the Committee by the House, the report of the Committee is presented to the House by the Chairman or, in his absence, by any member of the Committee.
• Where a question of privilege is referred to the Committee by the Speaker, the report of the Committee is presented to the Speaker who may pass final orders thereon or direct that it be laid on the Table of the House.
• The Speaker/Chairman may refer to the Committee any petition regarding the disqualification of a member on the ground of defection for making a preliminary inquiry and submitting a report to him.
• The procedure to be followed by the Committee in these cases is so far as may be the same as in applicable to questions of breach of privilege.

Hence both statements are not correct.

Bengal health authorities have been asked to be vigilant after the state recently recorded a big spike in adenovirus cases.

About Adenovirus:

• Adenoviruses are a group of viruses that can cause mild to severe infections throughout your body.
• They can cause a wide range of illnesses, such as the common cold, fever, sore throat, acute bronchitis, pneumonia, pink eye, and acute gastroenteritis.
• There are many different types of adenoviruses, so that people can get infected more than once.
• Adenovirus infections occur throughout the year, but they tend to peak in the winter and early spring.
• Adenoviruses can affect people of all ages, but they’re most common in children younger than 5 years old. 
• Most adenovirus infections are mild, but they can be more severe in people with weakened immune systems or existing respiratory or cardiac disease.
• Transmission modes:
• Adenoviruses are very contagious.  They can spread from an infected individual to others via close contacts, such as touching or shaking hands.
• Infected particles can also transfer through coughing and sneezing.
• Fecal material can spread the infection via contaminated water, dirty diapers, and poor hand washing.
• Treatment:
• There is currently no specific course of treatment or approved antiviral medication. 
• Some medications with proper rest are advised to control the symptoms.

Hence only statement 1 is correct.

NASA will launch Israel’s first space telescope mission, the Ultraviolet Transient Astronomy Satellite (ULTRASAT) in early 2026.

• ULTRASAT is an ultraviolet observatory with a large field of view, that will investigate the secrets of short-duration events in the universe, such as supernova explosions and mergers of neutron stars.
• It is planned to launch into a geostationary orbit around Earth.
• NASA will provide the launch opportunity, Flight Payload Adapter, and other launch-related responsibilities for ULTRASAT.

Hence both statements are not correct.