Daily Current Affairs MCQ: 15th November 2024 - UPSC MCQ

Statement-I correctly mentions Novo Nordisk's request to halt compounding of its medications due to safety concerns, as per the information provided in the text. Statement-II is also accurate in stating the FDA's allowance for compounding medications during shortages. However, Statement-II does not directly explain the reason behind Novo Nordisk's request, making option (b) the correct choice.

1. Study Direct Stream (SDS) Visa – Correctly matched. The SDS Visa was indeed aimed at offering faster processing for study permits for students from India and a few other countries.

2. Operation Dronagiri – Incorrectly matched. Operation Dronagiri is a pilot initiative under the National Geospatial Policy 2022 focusing on geospatial technology applications in agriculture, livelihoods, and logistics and transport, not health.

3. Prime Minister Justin Trudeau's Statement – Correctly matched. PM Justin Trudeau did mention a reduction in the issuance of international student permits by 35% this year, as reported.

4. Geospatial Innovation Cell – Incorrectly matched. The Geospatial Innovation Cell is involved in implementing Operation Dronagiri, but the oversight is managed by the IIT Tirupati Navavishkar I-Hub Foundation, not directly by the Geospatial Innovation Cell.

Thus, only pairs 1 and 3 are correctly matched.

Statement-I correctly defines Domestic Systemically Important Banks (D-SIBs) as financial institutions deemed too large to fail, which is accurate based on the provided information. Statement-II is also correct as D-SIBs are indeed subject to a different set of regulatory standards to address systemic risks and moral hazard issues, which complements and explains the significance of D-SIBs as highlighted in Statement-I. Together, these statements provide a comprehensive understanding of D-SIBs and their regulatory framework.

Birsa Munda's Ulgulan movement, also known as the Munda Rebellion, aimed at preserving tribal identity and cultural values. It was a significant effort to resist colonial exploitation while emphasizing the importance of tribal cultural heritage and identity. By leading this movement, Birsa Munda sought to protect the traditions and values that defined tribal life, making it more than just a political struggle but a cultural assertion of tribal identity and rights.

Let's evaluate each statement based on the information provided about the Sumi Naga tribe:

1. Statement 1: "The Sumi Naga tribe primarily resides in the northern parts of Nagaland."
- This statement is incorrect. The Sumi Naga tribe is known to primarily reside in the central and southern parts of Nagaland, not the northern parts. Therefore, statement 1 is false.

2. Statement 2: "Historically, the Sumi Naga engaged in headhunting before the arrival of Christian missionaries."
- This statement is correct. Like many other Naga tribes, the Sumi Naga historically practiced headhunting, which ceased with the influence of Christian missionaries. Therefore, statement 2 is true.

3. Statement 3: "The Sumi language belongs to the Dravidian language family."
- This statement is incorrect. The Sumi language actually belongs to the Tibeto-Burman language family, not the Dravidian language family. Therefore, statement 3 is false.

Upon analysis, only statement 2 is correct. Thus, the correct answer is Option C: 2 Only.

1. Statement 1 is correct. According to the guidelines, a bank must indeed have assets exceeding 2% of the national GDP to be classified as a Domestic Systemically Important Bank (D-SIB). This criterion helps in identifying banks that are large enough to pose systemic risks to the economy.

2. Statement 2 is correct. D-SIBs are required to maintain a higher proportion of risk-weighted assets as Tier-I equity compared to non-D-SIBs. This requirement is part of the regulatory framework to ensure these banks have additional capital buffers to mitigate systemic risks and reduce the likelihood of their failure.

3. Statement 3 is incorrect. The classification of D-SIBs into buckets is related to the extent of additional capital they are required to maintain, not directly to the level of government intervention required during economic crises. The bucket system helps determine the additional Common Equity Tier 1 (CET1) capital that D-SIBs must hold, with higher buckets requiring more capital.

Therefore, the correct answer is Option B: 1 and 2 Only, as both statements 1 and 2 are correct, while statement 3 is incorrect.

The Ahuna Festival celebrated by the Sumi Naga tribe holds significance as it symbolizes gratitude for the harvest while seeking blessings for prosperity in the upcoming year. This festival plays a vital role in expressing thankfulness for the bountiful harvest and invoking prosperity for the future, reflecting the cultural and agricultural practices of the Sumi Naga tribe.

1. World Diabetes Day Date - November 14: Correct. World Diabetes Day is observed globally on November 14th each year, marking the birthday of Sir Frederick Banting, a co-discoverer of insulin.

2. Co-discoverer of Insulin - Charles Best: Correct. Charles Best, along with Sir Frederick Banting, co-discovered insulin in 1922.

3. Drug containing Semaglutide - Wegovy: Correct. Wegovy is a drug containing semaglutide, used for weight loss management.

4. Recognized by UN in - 1991: Incorrect. World Diabetes Day was first established in 1991 by the International Diabetes Federation (IDF) and the World Health Organization (WHO), but it was the United Nations that officially recognized it in 2006.

Thus, three pairs are correctly matched: 1, 2, and 3.

Statement-I accurately reflects Birsa Munda's involvement in leading the Ulgulan, or the Munda Rebellion, against colonial exploitation in his twenties, not thirties, showcasing his courage and determination to fight injustice and preserve tribal identity. In contrast, Statement-II is inaccurate as it misrepresents the MATES Scheme, which allows Indian university graduates and early-career professionals to work in Australia for up to two years, not five years. Therefore, Statement-I is correct, while Statement-II is incorrect, making option (c) the correct answer.

The SDS visa program aimed to streamline the visa application process for international students, particularly Indian students, by providing faster processing, reduced fees, and simplified documentation requirements. This initiative facilitated a more straightforward pathway for eligible students to obtain study permits in Canada.