Daily Current Affairs MCQ- July 12, 2022 - UPSC MCQ

According to a report, gross non-performing assets of banks were at a six-year low of 5. 9% in March 2022.

Still, India’s NPA ratio is one of the highest among comparable countries.

According to the report, bad loans in India will continue to drop during this fiscal because of higher credit growth and transfer of legacy assets to the National Asset Reconstruction Company.

A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.

Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets.

• Substandard assets: Assets which has remained NPA for a period less than or equal to 12 months.
• Doubtful assets: An asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months.
• Loss assets: As per RBI, loss asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted, although there may be some salvage or recovery value.

Hence only statement 1 is correct.

Centre has directed leading edible oil associations to reduce prices of edible oils by 15 rupees in the MRP with immediate effect.

• India annually consumes around 23 million tonnes (mt) of edible oils, out of which 13.5-14.5 mt is imported and 8.5-9.5 mt domestically produced.
• The imported oils mainly comprise palm (8-9 mt), soyabean (3-3.5 mt) and sunflower (2-2.5 mt), while those sourced indigenously include mustard (2.5-2.8 mt), soyabean and cottonseed (1.2-1.3 mt each), rice bran (1-1.1 mt) and groundnut (0.5-0.8 mt).
• the current global food inflation began with edible oils. The initial trigger was the 2020-21 drought in Ukraine (the world’s biggest sunflower oil producer) and Covid-induced migrant labour shortages in Malaysia’s oil palm plantations.

Palm oil

• Being a ‘hard’ oil that is semi-solid (as opposed to liquid) at room temperature, palm oil isn’t used much in home kitchens for direct cooking or frying.
• Most of it goes to make hydrogenated fats (vanaspati, margarine and bakery shortening) or as key ingredient in bread, biscuits, cookies, cakes, noodles, mithai, namkeen, frozen dessert, soap, and cosmetics.

Hence both statements are correct.

A new study has flagged emerging threats that could have a major impact on marine biodiversity over the next 5-10 years. The study also speaks about the negative impacts of green technology adoption that must not be ignored.

• With increased public pressure against marine plastic pollution, there has been an attempt to replace fossil fuel-based plastic with biodegradable polymers, such the ‘biodegradable plastic bags’ made of plant starches.
• However, the researchers claim that these materials do not biodegrade under natural conditions in the ocean and their widespread adoption can cause marine litter as well. Since their long term impact on the environment remains unknown, they can lead to a fresh set of problems.
• The researchers argue that the growing demand for renewable energy technology, such as lithium batteries for electric cars, also pose a potential threat to marine ecology.
• Deep sea ‘brine pools’ of more saline water, contain higher concentrations of lithium and could become future sites for extraction.

Hence both statements are correct.

On July 5, 2022, Twitter moved the Karnataka High Court seeking to set aside multiple blocking orders of the Central government as well as to alter their directions to identify specific violative content than imposing a blanket ban on individual accounts.

• According to Twitter, the blocking orders were “procedurally and substantially” non-compliant with Section 69A of the Information Technology Act (IT Act).
• Section 69A of the IT Act empowers the government to restrict access to any content in the interest of sovereignty and integrity of the country.
• Twitter holds that the government has allegedly not shown why the restrictions were necessary in the interest of public order or for any other reason.
• The disparity in assessment of what constitutes ‘free expression’ and harm to public order among the two entities is the premise of the entire contestation.

Hence only statement 1 is correct.

• Natural farming is defined as a “chemical- free farming and livestock based”. North East India has traditionally been organic, and the consumption of chemicals is far less than the rest of the country.
  • Sikkim is the first state in the world which became a fully organic state. Hence, Statement 1 is not correct.
• Natural farming is in sync with the Sustainable Development Goal-2 i.e., targeting ‘end hunger, achieve food security and improved nutrition and promote sustainable agriculture’. Hence, Statement 2 is not correct.
• Participatory Guarantee System (PGS) is a process of certifying organic products produced by natural farming. It ensures that their production takes place in accordance with laid-down quality standards. The certification is in the form of a documented logo or a statement. Hence, statement 3 is correct.

• The Directorate General of Civil Aviation (DGCA) is the regulatory body in the field of Civil Aviation, primarily dealing with safety issues. It is responsible for regulation of air transport services to/from/within India and for enforcement of civil air regulations, air safety, and airworthiness standards.
  • The DGCA also co-ordinates all regulatory functions with the International Civil Aviation Organisation (ICAO). Hence statement 1 is correct.

AERA:

• Airports Economic Regulatory Authority of India (AERA) was established in 2009 as a statutory body under “The Airports Economic Regulatory Authority of India Act, 2008”.
  • AERA was established to regulate tariffs for the aeronautical services, determine other airport charges for services rendered at major airports and to monitor the performance standards of such airports. Hence statement 2 is correct.

• National Food Security Act (NFSA) provide for food and nutritional security in the human life cycle approach, by ensuring access to adequate quantities of quality food at affordable prices to people to live a life with dignity.
• It covers 75% of the rural population and upto 50% of the urban population for receiving subsidized foodgrains under Targeted Public Distribution System (TPDS). Hence, statement 1 is not correct.
• It provides for Meal and maternity benefit of not less than Rs. 6,000 to pregnant women and lactating mothers during pregnancy and six months after the child birth. Hence, statement 2 is correct.

Asian Clearing Union (ACU)

• The Asian Clearing Union, or ACU, is a payment arrangement between the central banks of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.
• Under the ACU, member central banks settle payments for intra-regional transactions on a net basis. This reduces the use of foreign exchange reserves and transfer costs.
• Headquartered in Tehran, Iran, the ACU was established in December, 1974.

Hence only statement 1 is correct.

National Internet Exchange of India (NIXI) is introducing Internet Exchanges in Durgapur and Bardhaman to improve quality of Internet and Broadband services in West Bengal and nearby regions. It’s an initiative under Ministry of Electronics and Information Technology (MeitY) vision 1000 days.

• NIXI is a not for profit Organization under section 8 of the Companies Act 2013 and was registered on 19th June 2003.
• NIXI was set up for peering of ISPs among themselves for the purpose of routing the domestic traffic within the country, instead of taking it all the way to US/Abroad, thereby resulting in better quality of service (reduced latency) and reduced bandwidth charges for ISPs by saving on International Bandwidth.
• NIXI is managed and operated on a Neutral basis, in line with the best practices for such initiatives globally.

Hence both statements are correct.

• A student studying at Carmel Convent School in Chandigarh was crushed to death after a 250-year-old tree fell on her inside the school complex.
• The peepal (sacred fig) had been declared a “heritage property” by the Chandigarh administration. In Chandigarh, a tree with an estimated age of 100 years, or more, is declared a ‘heritage property’.
• Though the age of the tree can be calculated using a carbon dating technique, the age of Chandigarh’s heritage trees are based on other proof, such as old maps and records. The process to declare trees as heritage was completed after a three-year exercise in December 2017.
• Declaring a tree as heritage property accords it special status. Heritage trees are guarded. A board is installed near each tree with information on their age, life history and importance.

Hence both statements are correct.