Daily Current Affairs MCQ- August 19, 2023 - UPSC MCQ

In order to reduce cyber frauds performed through fraudulently acquired SIM cards, the Department of Telecommunications (DoT) will now require police verification for SIM dealers, the enforcement move follows the launch of the Sanchar Saathi portal.

• The portal aims to provide various reforms and services related to mobile connections and telecommunications.
• It has been developed by C-DoT under the Department of Tele-communications (DoT) to prevent frauds such as identity theft, forged KYC, banking frauds etc.
• The portal allows mobile phone users to:
• Check the connections registered on their names.
• Report fraudulent or unrequired connections.
• Block the mobile phones which are stolen/lost
• Check IMEI genuineness before buying a mobile phone.
• The three reforms are being introduced as part of the portal's framework:
• CEIR (Central Equipment Identity Register): It enables the tracking and blocking of lost or stolen phones anywhere in the country.
• Know your mobile connections: It allows users to check the number of mobile connections issued in their name by logging in using their mobile number. This feature helps identify any unauthorized or unwanted connections, which can be blocked immediately.
• ASTR (Artificial Intelligence and Facial Recognition powered Solution for Telecom SIM Subscriber Verification): This AI-based technology facilitates mobile connection analysis and includes features such as IMEI-based phone theft information messaging to law enforcement agencies and the owner. It also enables blocking of any number associated with a particular IMEI and the tracking of stolen mobile devices.
• The portal and its reforms aim to enhance transparency, security, and accountability in the telecom sector.

Hence only statements 1 and 3 are correct.

Recently, Gabon announced a $500 million debt-for-nature swap which is the largest such deal signed by any country. 

• What it is? It allows heavily indebted developing countries to seek help from financial institutions in the developed world with paying off their debt if they agree to spend on conservation of natural resources.
• The notion of debt-for-nature swaps was first mooted in 1984 by Thomas Lovejoy, the former vice-president for science at the World Wildlife Fund-US, in response to the Latin American debt crisis.
• The first debt-for-nature swap was a third-party deal facilitated by Conservation International. Finalised in 1987, it involved foreign creditors agreeing forgive USD 650,000 of Bolivia’s debt in exchange for the country setting aside 1.5 million hectares in the Amazon Basin for conservation efforts.

Hence both statements are correct.

Researchers have named a recently discovered species of snake after actor Harrison Ford.

• Tachymenoides harrisonfordi was discovered in May 2022 by a team of researchers from the United States, Germany and Peru.
• It was discovered in the Peruvian Andes mountain region.
• Appearance:
• It measures 16 inches (40.6 centimeters) in length and is yellowish-brown with scattered black blotches, a black belly and a vertical streak over its copper-colored eye.
• This is the third animal species to be named after Ford. Earlier, an ant (Pheidole harrisonfordi) and a spider (Calponia harrisonfordi) were named after him. 

Hence option (d) is the correct answer.

Heavy rain and floods in Himachal Pradesh have battered the 94-km-long Kalka-Shimla railway line, a UNESCO World Heritage Site.

• UNESCO stands for United Nations Educational, Scientific and Cultural Organization.
• It is specialized agency of the United Nations (UN).
• The constitution, which entered into force in 1946, called for the promotion of international collaboration in education, science, and culture.
• Headquarters: Paris, France.
• Parent Organisation : United Nations Economic and Social Council.
• Goal: The primary goals of UNESCO are to contribute to peace and security by promoting collaboration among nations through education, science, and culture, and to promote sustainable development and intercultural dialogue.
• UNESCO believes that these areas are crucial for building a more just, peaceful, and inclusive world.

Hence both statements are correct.

Recently, the National Green Tribunal (NGT) directed a notice to be issued, related to the complaint of mining activities taking place in the eco-sensitive zone of Kuldiha Wildlife Sanctuary, Balasore district, Odisha.

• It is a major wildlife sanctuary in Odisha which was established in 1984.
• It is spread across the Chota Nagpur Plateau region.
• It is connected with Simlipal Reserve via Nato and Sukhupada Hill ranges.
• Flora: It contains mixed deciduous forest. 
• Fauna: It consists of lot of wild animals like the tigers, elephants, leopards, bison, gaur, giant squirrels and sambar etc.

Hence only statement 2 is correct.

The finance ministry recently said the total number of Jan Dhan accounts in the country has crossed the 50 crore mark, with 56 per cent of the accounts belonging to women.

About Pradhan Mantri Jan Dhan Yojana (PMJDY):

• PMJDY is a National Mission for Financial Inclusion launched in August 2014 to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance and Pension, in an affordable manner.
• It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension.
• The plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the beneficiary’s accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union Government.
• Eligibility:
• The applicant should be an Indian National.
• The applicant should be aged between 18 and 59 years.
• If minors above ten years apply, they will require support from their legal guardians to administer their PMJDY account.
• Jan Dhan Account:
• An individual can consider opening an account under this scheme with any bank branch or Business Correspondent (Bank Mitr) outlet. 
• Further, accounts opened under PMJDY can be opened with zero balance.
• However, if the account holder wishes to get a cheque book, he/she will have to fulfill the minimum balance criteria. 
• The account holders under this scheme will be given a RuPay debit card which can be used across all ATMs for cash withdrawal.
• Individuals opening a Jan Dhan account are subject to be recipients of certain benefits. They are
• Accidental Insurance Cover:
• It provides accidental insurance of ₹1,00,000 to the holders of non-premium cards, while those with premium cards can avail up to ₹2,00,000.
• People holding a RuPay Debit Card under PMJDY will be eligible for this insurance.
• Life Cover Insurance:
• The holders of a RuPay Debit Card under the scheme can also receive life cover insurance up to ₹30,000.
• It will only apply to people opening bank accounts for the first time under Jan Dhan Yojana with a debit card.
• The person should also be the head of the family or a major earning member.
• This scheme will be liable to a single payment of ₹30,000 upon the death of a beneficiary.
• State or Central Government employees, public sector employees, and people with taxable income will not be eligible for life cover insurance under Jan Dhan Yojana.
• Overdraft Facility: Beneficiaries can avail of an overdraft facility for up to ₹10,000. However, this is only available against one account per household.
• This scheme also provides loans of up to ₹5,000 to beneficiaries after completing six months of account transactions.

Hence option c is the correct answer.

The Reserve Bank of India (RBI) recently issued detailed guidelines to reset floating-interest rates on Equated Monthly Instalments (EMI)-based personal loans.

About Floating Interest Rate:

• A floating interest rate is an interest rate that changes periodically.
• The rate of interest moves up and down, or "floats," reflecting economic or financial market conditions. 
• A floating interest rate can also be referred to as an adjustable or variable interest rate because it can vary over the term of a debt obligation.
• The change in interest rate with a floating rate loan is typically based on a reference, or “benchmark”, rate that is outside of any control by the parties involved in the contract. 
• The reference rate is usually a recognized benchmark interest rate, such as the prime rate, which is the lowest rate that commercial banks charge their most creditworthy customers for loans (typically, large corporations or high net worth individuals).
• How is floating interest rate calculated?
• A floating interest rate uses a reference rate as the base.
• In order to arrive at the floating rate, a spread (or margin) is added to the reference rate.
• Floating Interest Rate = Base Rate + Spread
• Floating interest rates can be modified quarterly, half-yearly or annually.
• Several factors tend to influence the calculation of floating interest rates. Some of the economic factors are,
• Repo rate
• Government’s monetary policies
• Inflation rate
• Fiscal deficit
• Global and foreign interest
• When is Floating Rate Relevant?
• While applying for a loan:
• Typically, intending borrowers pick a loan with a floating rate when they expect a reduction in the interest rate or a dynamic rate through their loan tenure.
• Additionally, such an interest type enables individuals to make prepayments easily and pay off their debt faster and at a much lower interest burden.
• While investing:
• Individuals can choose investment instruments with floating rates when they anticipate the base rate will be the same, or an expected change will be in their favour.
• Under such situations, the interest earned on investments made either stays the same or is likely to increase.
• Limitations of Floating Rate:
• The fluctuation of rate is beyond the control of both parties in a contract, namely – the lender and borrower in a lending institution setup.
• Similarly, investors and investment firms have to make their way around the fluctuations to generate earnings while cushioning their capital.
• Even the slightest increase in the interest rate can push loan EMI burden significantly for loan borrowers. It often makes the repayment process challenging and disrupts a functioning financial plan.
• A small decrease in the interest rate generates a return on investment which is much lower than what one had anticipated before. As a result, investors may take a longer time to reach their respective financial goals.
• Both borrowers and investors often find it quite challenging to manage their budget plan and regulate savings when dealing with a floating rate based financial or investment option.

Hence only statement 1 is correct.

Russia recently announced sanctions on the International Criminal Court (ICC) prosecutor and British ministers.

About International Criminal Court (ICC):

• It is the only permanent international criminal tribunal.
• Background: It was created by the 1998 Rome Statute of the International Criminal Court (its founding and governing document), and began functioning on 1 July 2002 when the Statute came into force.
• Mandate: It investigates and, where warranted, tries individuals charged with the gravest crimes of concern to the international community: genocide, war crimes, crimes against humanity, and the crime of aggression.
• HQ: Hague, Netherlands.
• Members: 123 nations are States Parties to the Rome Statute and recognize the ICC’s authority; the notable exceptions being the US, China, Russia, and India.
• Funding: The Court is funded by contributions from the States Parties and by voluntary contributions from Governments, international organizations, individuals, corporations, and other entities.
• Composition:
• Judges: The Court has eighteen judges, each from a different member country, elected to nonrenewable nine-year terms.
• The Presidency: Consists of three judges (the President and two Vice-Presidents) elected from among the judges. It represents the Court to the outside world and helps with the organization of the work of the judges.
• Judicial Divisions: 18 judges in 3 divisions, the Pre-Trial Division, the Trial Division, and the Appeals Division.
• Office of the Prosecutor (OTP): OTP is responsible for receiving referrals and any substantiated information on crimes within the jurisdiction of the Court. OTP examines these referrals and information, conducts investigations, and conducts prosecutions before the Court.
• Registry: The core function of the Registry is to provide administrative and operational support to the Chambers and the Office of the Prosecutor.
• Jurisdiction of ICC:
• Unlike the International Court of Justice, which hears disputes between states, the ICC handles prosecutions of individuals. 
• The ICC is only competent to hear a case if:
• the country where the offence was committed is a party to the Rome Statute; or
• the perpetrator's country of origin is a party to the Rome Statute.
• The ICC may only exercise its jurisdiction if the national court is unable or unwilling to do so.
• The ICC only has jurisdiction over offences committed after the Statute’s entry into force on 1 July 2002.
• Relation with UN:
• While not a United Nations organization, the Court has a cooperation agreement with the United Nations.
• When a situation is not within the Court’s jurisdiction, the United Nations Security Council can refer the situation to the ICC, granting it jurisdiction.

Hence option b is the correct answer.

Border Roads Organisation (BRO) recently started the construction of the Likaru-Mig La-Fukche road close to Hanle in Eastern Ladakh’s Demchok sector.

About Likaru-Mig La-Fukche road:

• It is located close to Hanle in Eastern Ladakh.
• The 64-km long road will connect Likaru to Fukche, situated 3 km from the Line of Actual Control (LAC).
• Once completed, it will be the world’s highest motorable road at a height of 19,400 ft in Mig La.
• This would also provide an alternate land connectivity route to the Fukche advanced landing pad, which is only 2.5 km away from the LAC.
• It is the first project in India to be carried out entirely by an All Woman Road Construction Company. It is led by a five-member All Woman Border Road Task Force.

Hence only statement 2 is correct.

The Solar Energy Corporation of India (SECI) recently invited bids for developing more than 4 gigawatt (GW) of renewable energy, including wind power.

About Solar Energy Corporation of India Limited (SECI):

• SECI is a Central Public Sector Undertaking (CPSU) under the administrative control of the Ministry of New and Renewable Energy (MNRE).
• It was set up on 20th September 2011 to facilitate the implementation of the National Solar Mission (NSM) and the achievement of targets set therein.
• It is the only CPSU dedicated to the renewable energy sector.
• Vision: To build ‘Green India’ through harnessing abundant solar radiation and to achieve energy security for the country.
• Mission:
• To become the leader in the development of large-scale solar installations, solar plants and solar parks and to promote and commercialize the use of solar energy to reach the remotest corner of India.
• To become a leader in exploring new technologies and their deployment to harness solar energy.
• It was originally incorporated as a section-25 (not-for-profit) company under the Companies Act, 1956.
• However, through an amendment by the Government of India, the company was converted into a Section-3 company, in 2015, under the Companies Act, 2013.
• The mandate of the company has also been broadened to cover the entire renewable energy domain.
• The company is one of the nodal agencies for the implementation of a number of schemes of MNRE. In addition, SECI has ventured into solar project development on a turnkey basis for several PSUs/Government departments.
• The company also has a power trading license and is active in this domain through trading of solar power from projects set up under the schemes being implemented by it. 

Hence both statements are correct.