Daily Current Affairs MCQ- March 4, 2023 - UPSC MCQ

The maximum investment limit for the Senior Citizen Savings Scheme (SCSS) has been increased from Rs 15 lakh to Rs 30 lakh in Budget 2023.

About Senior Citizen Savings Scheme (SCSS):

• SCSS was launched with the main aim of providing senior citizens in India a regular income after they attain the age of 60 years old.
• Who is eligible?
• Indian citizens above the age of 60 years.
• Retirees in the age bracket of 55-60 years who have opted for Voluntary Retirement Scheme (VRS) or Superannuation.
• Retired defence personnel above 50 years and below 60 years of age.
• Maturity: It has a maturity period of five years. But, a depositor can extend one's maturity period for another three years.
• Number of accounts: Individuals are allowed to operate more than one account by themselves or open a joint account with their spouse.
• Deposit Limits: Eligible investors can make a lump sum deposit
• Minimum Deposit– Rs. 1,000 (and in multiples thereof)
• Maximum Deposit– Rs. 15 Lakh or the amount received on retirement, whichever is lower(Increased to Rs 30 lakh in Budget 2023).
• Interest Payment: Under SCSS, the interest amount is paid to the accountholders quarterly.
• Premature withdrawal: After one year of opening the account, premature withdrawal is allowed.
• Deposits in SCSS qualify for deduction u/s 80-C of Income Tax Act.

Hence only statement 2 is correct.

Union Finance Minister recently announced the setting up of a subsidiary of EXIM Bank and data embassies at GIFT City in Gujarat.

About EXIM Bank:

• It is the premier export finance institution of the country.
• It was established by the Government of India, under the Export-Import Bank of India Act, 1981
• EXIM Bank wholly owned by the Government of India.
• Services:
• EXIM Bank provides financial assistance to exporters and importers.
• It extends Lines of Credit (LOCs) to overseas financial institutions, regional development banks, sovereign governments and other entities overseas, to enable buyers in those countries to import developmental and infrastructure projects, equipment, goods and services from India, on deferred credit terms. 
• It functions as the principal financial institution for coordinating the work of institutions engaged in financing export and import of goods and services with a view to promoting the country's international trade.

Hence both statements are correct.

A bar-headed goose, which was tagged in Mongolia in July 2014 has recently been spotted in Koonthankulam - Kadankulam Bird Sanctuary in Tirunelveli district, Tamil Nadu.

About Bar-headed goose:

• They are large pale grey birds which are considered one the world’s highest flying birds.
• They are known for their migration spanning distances of over 1,600 km in a day.
• They are known for reaching extreme altitudes of 29,500 feet during their twice-yearly migrations across the Himalayas.
• Scientific name: Anser indicus
• Distribution: Native to central Asia, where the species breeds, they are found in India, Pakistan, Nepal, Kazakhstan, Bangladesh, Myanmar, Japan and other nearby regions.
• Habitat: They breed around lakes and marshes on highland plateaus; winters in lowland wetlands and fields.
• Features:
• This species is grey and white with two horseshoe-shaped, brownish-black bars on the back of its white head.
• The bill and legs are pink, orange, or yellow.
• IUCN Status: ‘Least Concern’

Hence both statements are not correct.

Finance Minister recently announced that government will set up an Urban Infrastructure Development Fund (UIDF) of Rs 10,000 crore per year for creating infrastructure in Tier-2 and Tier-3 cities.

About Urban Infrastructure Development Fund (UIDF):

• UIDF will be established through the use of priority sector lending shortfall.
• Purpose: The fund will be used by public agencies to create urban infrastructure in tier-2 and tier-3 cities.
• It will be managed by the National Housing Bank.
• It will be established on the lines of the Rural Infrastructure Development Fund (RIDF).
• States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.

Hence only statement 1 is correct.

Union Finance Minister recently announced a mission for the welfare of Particularly Vulnerable Tribal Groups (PVTGs) in the 2023-24 Union Budget.

Who are PVTG (Particularly Vulnerable Tribal Groups)?

• PVTGs are more vulnerable among the tribal groups who are in need of greater support and development.
• Out of the 705 Scheduled Tribes in India, 75 have been identified as PVTGs and are spread across 17 states and one Union Territory.
• Government of India follows the following criteria for identification of PVTGs
• Pre-agricultural level of technology
• Low level of literacy
• Economic backwardness
• A declining or stagnant population.
• In 1975, the Government of India initiated to identify the most vulnerable tribal groups as a separate category called PVTGs and declared 52 such groups.
• An additional 23 groups were added to the category in 1993.
• Some Examples: Cholanaikayan (Kerala), Kathodi (Gujarat), Jarawas (Andaman & Nicobar Islands), Koraga (Karnataka)

Hence only statement 1 is correct.

Recently after the Hindenburg revelations, many of the Adani Group companies’ stocks have hit the lower circuits in subsequent trading sessions.

• The Securities and Exchange Board of India (SEBI) implemented index-based market-wide circuit breakers in June 2001.
• Circuit breakers are triggered to prevent markets from crashing due to a panic-induced sale of stocks.
• This can occur for a variety of reasons, leading to stockholders in the market believing that their stocks are overvalued. As a result, they engage in a sell-off.
• Circuit breakers temporarily halt trading, thereby halting the sell-off.
• Circuit-breakers effectively limit how much a stock's value can fall in a single day/trading session, resulting in a more stable market overall.

Hence both statements are correct.

Recently, NASA's Juno spacecraft experienced a glitch that caused it to lose over 200 images taken during a Jupiter flyby.

• JUNO is an acronym for Jupiter Near-polar Orbiter.
• It was launched in 2011, the Juno spacecraft initially embarked on a 5-year journey to the largest planet in our solar system.
• Towards the end of its primary mission, the spacecraft’s objectives evolved, and it transitioned into a full Jupiter system explorer with flybys of Jovian moons.
• Goal: Understand the origin and evolution of Jupiter, look for a solid planetary core, map the magnetic field, measure water and ammonia in the deep atmosphere, and observe auroras.

Hence only statement 2 is correct.

Selena Gomez, a singer-actor, recently revealed that she has Lupus.

• Lupus is an autoimmune disease in which the body’s immune system starts attacking your tissues and organs.
• The condition primarily affects the kidney, but it also has an impact on the skin, blood vessels, connective tissue, heart, brain, and nearly every other organ.
• It is treated by immunosuppression via drugs such as mycophenolate, azathioprine, cyclophosphamide, and rituximab. 
• The SLEDAI disease activity index is used for the prognosis of this disease.

Hence both statements are correct.

The recent trade database of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has recorded 28 incidents of Red Sanders confiscation, seizure, and wild specimen being exported from India.

• It is a flora species that are endemic to a distinct tract of forests in the Eastern Ghats region of Andhra Pradesh.
• Geographical conditions required: It usually grows in rocky, degraded and fallow lands with Red Soil and a hot and dry climate.
• Protection Status:
  • IUCN Red List: Endangered
  • CITES: Appendix II
  • Wildlife (Protection) Act 1972: Schedule IV

Hence only statement 2 is correct.

Recently, a mother in Brazil gave birth to a two-foot-tall baby weighing 16lb (7.3kg). 

• The term used to describe giant babies is macrosomia (Greek for the large body). Any baby that weighs more than 4kg, regardless of its gestational age, is said to have macrosomia.

 What are the factors that cause Macrosomia?

• The mother's body weight: Obese mothers are more likely to have children with Macrosomia.
• Mothers with gestational diabetes: High blood sugar that arises during pregnancy, this increases to between 15 per cent and 45 per cent of births.
• Being older when pregnant also increases the odds of having a baby with macrosomia.
• Overdue pregnancies: Those that run past the typical 40 weeks – also increase the risk of a baby being macrosomic, particularly at 42 weeks or more.
• Previous pregnancies increase the risk of macrosomia because, with each successive pregnancy, birth weight increases.  
• Mothers are also at increased risk of vaginal tears during delivery, which then increases the risk of postpartum haemorrhage (bleeding).

Hence both statements are correct.