Test: Weekly Current Affairs: January 22nd to 31st 2025 - UPSC MCQ

- Statement 1 is correct. The "when-listed" trading platform introduced by SEBI is designed to enable the trading of shares immediately after they are allotted in an IPO but before their formal listing on stock exchanges. This allows investors to engage in trading without waiting for the shares to be officially listed.
- Statement 2 is incorrect. While the initiative aims to regulate and reduce the reliance on the grey market by providing a formal trading environment, it does not claim to completely eliminate the grey market. The grey market may still exist, albeit with reduced influence, as the formal platform is expected to provide a more transparent and secure alternative.
- Statement 3 is correct. By allowing trades in a regulated environment, the "when-listed" platform is expected to enhance transparency and security. It provides a legitimate trading mechanism that can help reduce the volatility associated with speculative trading in the grey market.
In conclusion, statements 1 and 3 are correct, whereas statement 2 is not, making Option C the right choice.

Both Statement-I and Statement-II are correct. Statement-I talks about the successful launch of NVS-02 by GSLV-F15, which is accurate as per the provided information. Statement-II mentions the use of atomic clocks in NVS-02 for precise time estimation, which is also supported by the details given in the text. Furthermore, Statement-II explains the importance of these atomic clocks for navigation services, thereby justifying that both statements are correct and Statement-II provides additional relevant information to support Statement-I.

- Statement 1 is correct. The Geosynchronous Satellite Launch Vehicle (GSLV-F15) indeed marked ISRO's 100th launch milestone by successfully placing the NVS-02 satellite into orbit. This achievement was celebrated on January 29, 2025, at the Satish Dhawan Space Centre in Sriharikota, highlighting a significant technical accomplishment for ISRO.

- Statement 2 is correct. The NVS-02 satellite, part of the Navigation with Indian Constellation (NavIC) series, is equipped with navigation payloads that operate across L1, L5, and S bands. Additionally, it includes a C-band ranging payload, which is crucial for enhancing the satellite's navigation capabilities.

- Statement 3 is incorrect. The NVS-02 satellite is not the third satellite in the NavIC series; it is the second satellite in this series. This series aims to provide accurate navigation services across India and neighboring regions.

Thus, the correct answer is Option B: 1 and 2 Only, as statements 1 and 2 are accurate, whereas statement 3 is not.

Statement-I is accurate as the OECD Global Tax Deal does focus on redistributing profits to the locations where business activities occur through its two main pillars. Statement-II is also correct as the US executive order does criticize the agreement for impinging on US sovereignty and economic competitiveness. However, Statement-II does not provide an explanation or elaboration for Statement-I; hence, the correct answer is option B.

1. Lunar Regolith - Surface layer of loose material on the Moon. This pair is correctly matched. Lunar regolith is indeed the surface layer of loose material on the Moon.

2. Silicon Carbide Properties - High thermal conductivity and low thermal expansion. This pair is correctly matched. Silicon carbide is known for its high thermal conductivity and low thermal expansion, among other properties.

3. Methane Source for Extraction - Directly mined from the Moon. This pair is incorrectly matched. Methane used in the extraction process is not mined from the Moon. Instead, it can be sourced from carbon dioxide exhaled by astronauts, processed using the Sabatier process at the International Space Station (ISS).

4. eCoO 2.0 Feature - Mandatory electronic filing of Non-Preferential Certificates of Origin. This pair is correctly matched. The eCoO 2.0 system mandates electronic filing for Non-Preferential Certificates of Origin from January 1, 2025.

Pairs 1, 2, and 4 are correctly matched, while pair 3 is not. Therefore, only two pairs are correctly matched.

- Statement 1 is correct. The economic burden of breast cancer in India is indeed projected to rise significantly from $8 billion in 2021 to $19.55 billion by 2030. This projection is based on the autoregressive integrated moving average (ARIMA) model, indicating a substantial increase in financial impact over the years.

- Statement 2 is correct. A survey of 500 breast cancer patients highlights that only 9% have health insurance coverage, which results in considerable financial difficulties for many patients, particularly those from rural and economically disadvantaged backgrounds.

- Statement 3 is incorrect. The survival rates for breast cancer patients in India are generally lower than those in Western countries. This is primarily due to factors such as late-stage diagnoses, delays in treatment initiation, and fragmented healthcare services, which inhibit prompt and effective treatment.

Therefore, the correct answer is Option B: 1 and 2 Only, as both statements 1 and 2 accurately reflect the situation, whereas statement 3 does not.

The deportation process in the United States is typically initiated due to reasons such as criminal activity or visa violations. Non-citizens may face deportation if they are found to be in violation of immigration laws or if they have committed criminal offenses. This can lead to detention and eventual removal from the country. It is important for individuals to adhere to immigration laws and regulations to avoid facing deportation consequences.

- Statement 1 is correct. The Rythu Bharosa Scheme indeed provides ₹6,000 per acre as investment assistance for farmers during the rabi season. This is a targeted financial aid to ensure farmers have the necessary capital for sowing.

- Statement 2 is incorrect. The Indiramma Atmiya Bharosa Scheme specifically targets landless agricultural labor families, providing ₹12,000 annually. It does not extend to all agricultural labor families, but rather focuses on those without their own land to cultivate.

- Statement 3 is correct. The Indiramma Housing Scheme is designed to assist families in constructing homes, offering ₹5 lakh per eligible family. This initiative aims to address issues of homelessness and inadequate housing by providing significant financial support for home construction.

Thus, the correct statements are 1 and 3, making Option C the right answer.

The Rythu Bharosa Scheme in Telangana aims to provide financial assistance to farmers by offering investment aid during the rabi season. This initiative supports farmers by granting them a specific amount per acre to enhance agricultural activities and improve crop yields. By providing this assistance, the government aims to uplift the agricultural sector and ensure the well-being of farmers in the state.

- Statement 1: Correct. The extraction process of silicon carbide from simulated lunar soil indeed involves methane, which can be sourced from carbon dioxide exhaled by astronauts. This is processed using the Sabatier process, a method used at the International Space Station to convert carbon dioxide and hydrogen into water and methane.

- Statement 2: Correct. Silicon carbide is indeed known for its high thermal conductivity and low thermal expansion. These properties make it suitable for high-temperature applications and industrial uses, such as in abrasives and as wear-resistant components.

- Statement 3: Incorrect. While silicon carbide has applications that include high-temperature environments due to its thermal properties, the specific aim of the extraction from simulated lunar soil is primarily for constructing lunar habitats, not directly for improving the thermal efficiency of spacecraft.

Thus, the correct answer is "Option B: 1 and 2 Only," as statements 1 and 2 accurately describe the extraction process and properties of silicon carbide, while statement 3 does not align with the primary goal of lunar habitat construction.

Statement-I correctly explains that deportation in the US involves the removal of non-citizens for various reasons like criminal activity or visa violations. Statement-II accurately mentions that deportations in the US are managed by the US Immigration and Customs Enforcement (ICE), which indeed utilizes commercial and charter flights for the deportation process. However, Statement-II does not provide an explanation or further details that directly support Statement-I, hence it does not explain Statement-I. Therefore, the correct answer is option (b).

- Statement 1: This statement is incorrect. According to the guidelines, MIIs are required to undergo independent external evaluations every three years, not every two years. This is a crucial detail because it defines the frequency of evaluations mandated by SEBI.
- Statement 2: This statement is correct. The evaluation process indeed allocates 40% weightage to roles and responsibilities, while meeting effectiveness and governance practices each receive 30% weightage. This distribution of weightage is designed to ensure a balanced assessment of the various aspects of MII functioning.
- Statement 3: This statement is correct. The guidelines specify that the first external evaluation is due by September 30, 2025. This deadline is set to ensure that MIIs adhere to the new evaluation framework within a stipulated timeframe.
Thus, only statements 2 and 3 are correct. Therefore, the correct answer is Option D: 2 and 3 Only.

1. CRED - First fintech company to launch a beta e-rupee wallet: This pair is correctly matched. On January 29, 2025, CRED became the first fintech company to introduce a beta version of its e-rupee wallet, facilitating transactions using India's CBDC.

2. e-Rupee Wallet - Allows unlimited transaction amounts per day: This pair is incorrectly matched. The e-rupee wallet allows transactions up to ₹10,000 per transfer with a daily limit of ₹50,000, not unlimited transactions.

3. CBDC - Digital form of legal tender issued by RBI: This pair is correctly matched. CBDC is a digital form of legal tender issued by a country's central bank, such as the Reserve Bank of India, and holds the same value as physical currency.

4. National Critical Mineral Mission - Focuses on 12 essential minerals: This pair is incorrectly matched. The National Critical Mineral Mission focuses on 24 essential minerals, including lithium, cobalt, and nickel, which are vital for clean energy technologies.

Thus, two pairs are correctly matched.

The main aim of CRED's E-Rupee Wallet launch is to facilitate transactions using India's central bank digital currency, CBDC. This initiative is designed to enhance financial inclusion and streamline digital payment methods across India, aligning with the Reserve Bank of India's initiative to widen access to CBDC-Retail. This move signifies a significant step in modernizing India's financial ecosystem and promoting digital transactions.

Statement-I correctly highlights the projected rise in the financial impact of breast cancer in India from $8 billion in 2021 to $19.55 billion by 2030, as estimated by the ARIMA model. Statement-II accurately points out that survival rates for breast cancer patients in India are lower than those in Western nations due to late-stage diagnoses, delays in treatment initiation, and fragmented healthcare services. The increased economic burden and lower survival rates underscore the pressing need for strategic healthcare interventions and policy reforms in India to address the challenges posed by the rising incidence of breast cancer.

The anticipated economic burden of breast cancer cases in India is estimated to surge to approximately $19.55 billion annually by 2030, according to recent studies. This projection underscores the urgent need for strategic healthcare interventions and policy reforms to address this growing concern effectively.

1. Breast Cancer Economic Burden - Incorrect. The economic burden of breast cancer in India is projected to rise to approximately $19.55 billion annually by 2030, not $10 billion.

2. Nitrogen Use Efficiency (NUE) in 2022 - Correct. It is stated that nitrogen use efficiency has improved from 40% in the 1980s to 56% in 2022.

3. Survival Rates of Breast Cancer Patients in India - Incorrect. The survival rates for breast cancer patients in India are lower than those in Western nations due to late-stage diagnoses and fragmented healthcare services.

4. Livestock Contribution to Nitrogen Emissions - Correct. Livestock accounts for about one-third of total nitrogen emissions.

Thus, pairs 2 and 4 are correctly matched.

1. Bombay Stock Exchange (BSE) - Conducts internal and external evaluations: Incorrect. While BSE is a major MII and will undergo internal and external evaluations, it does not conduct these evaluations itself. The evaluations are to be conducted by an independent external agency.

2. National Securities Depository Ltd. (NSDL) - Facilitates the allocation and reallocation of capital: Correct. NSDL, as a depository, plays a crucial role in facilitating the allocation and reallocation of capital, which is essential for economic growth.

3. Securities and Exchange Board of India (SEBI) - Oversees guidelines for MIIs: Correct. SEBI is indeed responsible for creating and overseeing guidelines that govern MIIs, as part of its regulatory functions.

4. Clearing Corporations - Maintains investor confidence by ensuring market stability: Correct. Clearing corporations are essential in ensuring market stability and maintaining investor confidence, as they handle the clearing and settlement processes that are critical to the financial markets.

In summary, pairs 2, 3, and 4 are correctly matched, while pair 1 is not.

1. Rythu Bharosa Scheme: Incorrectly matched. This scheme provides financial assistance to farmers, not landless agricultural labor families. It offers ₹6,000 per acre as investment assistance for the rabi season.

2. Indiramma Atmiya Bharosa Scheme: Incorrectly matched. This scheme supports landless agricultural labor families, providing annual financial support, not farmers.

3. Indiramma Housing Scheme: Correctly matched. This scheme aids families in constructing homes, providing ₹5 lakh per eligible family to address homelessness.

4. Ration Cards: Correctly matched. New ration cards are issued to improve food security, benefiting individuals and families in need.

Thus, pairs 3 and 4 are correctly matched, making a total of three correctly matched pairs.

Statement-I correctly explains the purpose of the "when-listed" trading platform introduced by Sebi to regulate trading activities between IPO allotment and formal listing, aiming to address grey market activities. Statement-II is also accurate in its description of Guillain-Barré Syndrome (GBS) as an autoimmune disorder triggered by infections, leading to peripheral nerve damage. Furthermore, infections are commonly associated with the development of GBS. Therefore, both statements are correct, and Statement-II provides additional information that explains the context of Statement-I.

1. Statement 1 is correct. The OECD Global Tax Deal includes two main pillars, with Pillar 1 focusing on reallocating profits of multinational corporations to the jurisdictions where their significant revenue generation occurs. This is a key aspect of the deal aimed at addressing tax avoidance by ensuring that profits are taxed where economic activities and value creation occur.

2. Statement 2 is correct. The executive order from the US, as mentioned, criticized the OECD Global Tax Deal for potentially undermining U.S. sovereignty and economic competitiveness. This forms a central part of the rationale provided by President Trump for withdrawing from the agreement, highlighting concerns about the implications for domestic policy and economic conditions.

3. Statement 3 is incorrect. India has not immediately adopted changes to its tax legislation as a result of the OECD Global Tax Deal. Instead, India has taken a cautious approach and has not made any legislative changes in response to the deal. The reference to India eliminating the 2% equalization levy in the Union Budget 2024 is an indication of its minimal expected impact rather than a direct legislative adoption of the OECD’s proposals.

Thus, the correct statements are 1 and 2, making Option B the correct answer.

Statement-I is correct as it reflects the information provided in the news summary regarding the retail food inflation in India decreasing to 8.39% year-on-year in December 2025. Statement-II is also correct as it aligns with the news report mentioning the launch of welfare schemes by the Telangana Chief Minister across villages. However, these two statements are independent of each other and do not have a direct explanatory relationship. Thus, option (b) is the correct choice as both statements are accurate, but Statement-II does not explain Statement-I.

- Statement 1 is correct. CRED’s e-rupee wallet indeed allows transactions up to ₹10,000 per transfer, with a daily limit of ₹50,000. This feature is part of CRED's efforts to facilitate digital transactions using India's central bank digital currency (CBDC).

- Statement 2 is correct. Under President Donald Trump, the United States took a cautious stance towards Central Bank Digital Currencies (CBDCs), prohibiting their development and promotion, which contrasts with India's proactive approach in this area.

- Statement 3 is correct. The National Critical Mineral Mission (NCMM) is designed to reduce India's dependence on imported critical minerals. It encourages international collaboration to acquire critical mineral assets abroad, which is crucial for ensuring a stable supply of these resources necessary for advanced technology industries and clean energy solutions.

Thus, all three statements are accurate and reflective of the initiatives and policies described. Therefore, the correct answer is Option D.

Silicon carbide is primarily utilized in industrial furnaces and as wear-resistant components for various applications. Its exceptional hardness and other properties make it a valuable material in industries requiring high thermal conductivity and strength at elevated temperatures. Additionally, its use in these areas showcases its importance in enhancing the durability and efficiency of different equipment and systems.

1. Expedited Removal - This is correctly matched. Expedited removal is indeed a process under the US Immigration and Nationality Act, allowing for the quick removal of non-citizens who enter the US without proper documentation.

2. Voluntary Departure - This is correctly matched. Voluntary departure allows individuals facing deportation to leave the United States at their own expense, avoiding the formal deportation process.

3. Credible Fear - This is correctly matched. The credible fear standard is used to determine if individuals facing deportation can initiate formal removal proceedings based on a genuine fear of persecution if returned to their home country.

4. Donkey Route - This is incorrectly matched. The "donkey route" refers to an illegal and often dangerous journey undertaken by migrants, including Indians, through several countries to reach the US, rather than a legal immigration pathway.

Based on the analysis, three pairs (1, 2, and 3) are correctly matched.