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Test: July 2022 Weekly Current Affair - 4 - UPSC MCQ


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25 Questions MCQ Test Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - Test: July 2022 Weekly Current Affair - 4

Test: July 2022 Weekly Current Affair - 4 for UPSC 2024 is part of Current Affairs & Hindu Analysis: Daily, Weekly & Monthly preparation. The Test: July 2022 Weekly Current Affair - 4 questions and answers have been prepared according to the UPSC exam syllabus.The Test: July 2022 Weekly Current Affair - 4 MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: July 2022 Weekly Current Affair - 4 below.
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Test: July 2022 Weekly Current Affair - 4 - Question 1

Consider the following statements regarding India Innovation Index, 2022.

  1. India Innovation Index was released by Ministry of Statistics and Programme Implementation (MOSPI).
  2. It determines innovation capacities at the sub-national level.
  3. At present India is among the top 25 nations in the Global Innovation Index.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 1

Karnataka has bagged the top rank in NITI Aayog’s India Innovation Index, 2022, which determines innovation capacities and ecosystems at the sub-national level. The State has held this position, under the Major States category, in all three editions of the Index so far.

Pointing out that India’s average innovation score is arguably insufficient, given the country’s ambitious targets to be named among the top 25 nations in the Global Innovation Index, the report by the government think tank has recommended measures, such as increasing Gross Domestic Expenditure on R&D (GDERD), promoting private sector participation in R&D and closing the gap between industry demand and what the country produces through its education systems.

Test: July 2022 Weekly Current Affair - 4 - Question 2

Consider the following statements.

  1. Low-pressure zones tend to draw air toward them.
  2. Changes in the jet stream can increase the frequency and intensity of heat waves in Europe.
  3. As the Arctic warms at a faster rate, the temperature differential between it and the equator increases.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 2
  • Now temperatures across Europe are soaring yet again, at or near triple digits from Spain to the British Isles and spreading east.
  • Low-pressure zones tend to draw air toward them. In this case, the low-pressure zone has been steadily drawing air from North Africa toward it and into Europe.
  • Heat waves in Europe had increased in frequency and intensity over the past four decades, and linked the increase at least in part to changes in the jet stream. The researchers found that many European heat waves occurred when the jet stream had temporarily split in two, leaving an area of weak winds and high-pressure air between the two branches that is conducive to the buildup of extreme heat.
  • There may be other reasons Europe is seeing more, and more persistent, heat waves, although some of these are the subject of debate among scientists.
  • Warming in the Arctic, which is occurring much faster than other parts of the world, may play a role. As the Arctic warms at a faster rate, the temperature differential between it and the equator decreases. This leads to a decrease in summertime winds, which has the effect of making weather systems linger for longer.
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Test: July 2022 Weekly Current Affair - 4 - Question 3

Consider the following statements.

  1. The Asiatic cheetah was declared extinct in India and is a critically endangered species surviving only in Iraq.
  2. Guru Ghasidas National Park is located in Chhattisgarh.
  3. Kuno National Park is the planned location in India for the reintroduction of African cheetahs.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 3
  • India and Namibia signed a Memorandum of Understanding (MoU) to reintroduce the African cheetah in India. The agreement will prepare the ground for the relocation of the first batch of cheetahs from Namibia to Madhya Pradesh’s Kuno National Park.
  • The Asiatic cheetah was declared extinct in India in 1952 and is a critically endangered species surviving only in Iran. In 1947, there were confirmed records of the cheetah’s presence in India.
Test: July 2022 Weekly Current Affair - 4 - Question 4

Consider the following statements.

  1. El Niño brings warm water from the equatorial Pacific Ocean up to the western coast of North America.
  2. In North America, the summer temperatures trend lower during La Niña.
  3. Shift in the position of jet streams results in heatwaves in some places.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 4

Arctic warming and jet stream migration

  • The Arctic is warming three to four times faster than the globe as a whole, meaning there is ever less difference between northern temperatures and those closer to the equator.
  • That is resulting in swings in the North Atlantic jet stream, which in turn leads to extreme weather events like heatwaves and floods.

Heat domes

  • Warmer oceans contribute to heat domes, which trap heat over large geographical areas. The heat dome is stretching from the southern plains of the Oklahoma/Arkansas area all the way to the eastern seaboard, according to the U.S. Weather Prediction Center.
  • Scientists have found the main cause of heat domes is a strong change in ocean temperatures from west to east in the tropical Pacific Ocean during the preceding winter.
  • As prevailing winds move the hot air east, the northern shifts of the jet stream trap the air and move it toward land, where it sinks, resulting in heatwaves.

El Niño and La Niña

  • Every few years, the climate patterns known as El Niño and, less frequently, La Niña occur. El Niño brings warm water from the equatorial Pacific Ocean up to the western coast of North America, and La Niña brings colder water.
  • At present, La Niña is in effect. Because summer temperatures trend lower during La Niña, climate scientists are concerned about what a serious heatwave would look like during the next El Niño, when even hotter summer weather could be expected.
Test: July 2022 Weekly Current Affair - 4 - Question 5

Consider the following statements regarding Marburg virus disease.

  1. There are no vaccines or antiviral treatments for the disease.
  2. The disease is clinically similar to Ebola in its spread, symptoms and progression, although it is caused by a different virus.
  3. Marburg can cause severe viral hemorrhagic fever, which interferes with the blood’s ability to clot.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 5
  • Ghana announced the country’s first outbreak of Marburg virus disease after two people who were not related died June 27 and 28.
  • Marburg was first detected in 1967, when outbreaks of hemorrhagic fever occurred simultaneously in laboratories in Marburg and Frankfurt in Germany, and in Belgrade.
  • The Marburg virus is the pathogen that causes Marburg virus disease in humans.
  • There are no vaccines or antiviral treatments for the disease.
  • The disease is clinically similar to Ebola in its spread, symptoms and progression, although it is caused by a different virus, according to WHO.
  • Marburg virus can spread through direct contact with blood, secretions or other bodily fluids from infected people, according to WHO. It can also spread through contact with contaminated surfaces and materials like bedding or clothing.
  • Marburg can cause severe viral hemorrhagic fever, which interferes with the blood’s ability to clot. The incubation period ranges from two to 21 days, and symptoms begin abruptly with high fever, severe headache and severe malaise, according to WHO.
Test: July 2022 Weekly Current Affair - 4 - Question 6

Consider the following statements regarding Ramsar Convention.

  1. Designation of a wetland under Ramsar Convention will lead to funding from the Ramsar secretariat.
  2. The Ramsar designation for a wetland can be taken off if the country does not meet the required standards.
  3. Not every Ramsar Site in India is a notified protected area under the Wildlife (Protection) Act, 1972.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 6
  • Ramsar secretariat designating a wetland as wetland of global importance may not lead to any extra funding by the global body.
  • But from the management point of view, it is like an accreditation. It is like an ISO certification. They can take you off the list as well if you don’t meet their standards continuously. 
  • Not every Ramsar Site is a notified protected area under the Wildlife (Protection) Act, 1972, hence systematic protection and conservation regimes might not be in place there.
Test: July 2022 Weekly Current Affair - 4 - Question 7

Consider the following statements.

  1. Product taxes and subsidies are paid or received per unit or product.
  2. Production taxes and subsidies are paid or received in relation to production and are independent of the volume of production.
  3. Factor cost includes only the payment to factors of production including tax.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 7
  • In India, the most highlighted measure of national income has been the GDP at factor cost. The Central Statistics Office (CSO) of the Government of India has been reporting the GDP at factor cost and at market prices.
  • The distinction between factor cost, basic prices and market prices is based on the distinction between net production taxes (production taxes less production subsidies) and net product taxes (product taxes less product subsidies). Production taxes and subsidies are paid or received in relation to production and are independent of the volume of production such as land revenues, stamp and registration fee. Product taxes and subsidies, on the other hand, are paid or received per unit or product, e.g., excise tax, service tax, export and import duties etc. Factor cost includes only the payment to factors of production, it does not include any tax. 
Test: July 2022 Weekly Current Affair - 4 - Question 8

Consider the following statements.

  1. The Fundamental Duties are held obligatory for all citizens subject to the State enforcing the same by means of a valid law.
  2. Any law that even though it deviates from the Fundamental Rights, but has been made to give effect to the Directive Principles in Article 39(b) and Article 39(c)would not be deemed invalid.

Which of the above statements is/are incorrect?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 8

The Relationship Between the Fundamental Rights, Directive Principles and Fundamental Duties:

  • Directive Principles have been used to uphold the Constitutional validity of legislation in case of conflict with Fundamental Rights.
  • According to the amendment of 1971, any law that even though it deviates from the Fundamental Rights, but has been made to give effect to the Directive Principles in Article 39(b) and Article 39 (c)would not be deemed invalid.

The Fundamental Duties will be held obligatory for all citizens subject to the State enforcing the same by means of a valid law.

Test: July 2022 Weekly Current Affair - 4 - Question 9

Consider the following statements regarding Asian Infrastructure Investment Bank (AIIB).

  1. Asian Infrastructure Investment Bank (AIIB)It is a development bank with a mission to improve the economic and social outcomes in Asia.
  2. AIIB does not allow non-sovereign entities to apply for AIIB membership.
  3. AIIB Project Preparation Special Fund (PPSF) provides technical assistance grants to support the preparation of high-quality bankable projects for AIIB Members.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 9
  • Asian Infrastructure Investment Bank (AIIB) is headquartered in Beijing.
  • It commenced operations in January 2016.
  • It is a development bank with a mission to improve the economic and social outcomes in Asia.
  • India is the second largest shareholder in AIIB after China and is also the largest recipient of funds from the multilateral agency.
  • Membership in AIIB shall be open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
  • Unlike other MDBs (multilateral development bank), the AIIB allows for non-sovereign entities to apply for AIIB membership,assuming their home country is a member.

AIIB Project Preparation Special Fund:

  • Established in June 2016, the Project Preparation Special Fund (Special Fund) is a multi-donor facility with the primary purpose of supporting eligible AIIB members—especially low-income members—prepare bankable infrastructure projects AIIB may finance.
  • The Special Fund provides technical assistance grants for preparing bankable infrastructure projects.Through these grants, clients can hire experts and consultants to carry out the required preparation work.
Test: July 2022 Weekly Current Affair - 4 - Question 10

Consider the following statements.

  1. Agriculture Orientation Index (AOI) is developed as part of the 2030 Agenda for Sustainable Development.
  2. Agriculture Orientation Index measures the ratio between government spending towards the agricultural sector and the sector’s contribution to GDP.
  3. The Sustainable Development Goals (SDG) emphasises an increase in investment in rural infrastructure, agricultural research and extension services.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 10
  • Agriculture Orientation Index (AOI) — an index which was developed as part of the Goal 2 (Zero Hunger) of the 2030 Agenda for Sustainable Development in 2015. The Sustainable Development Goal (SDG) 2 emphasises an increase in investment in rural infrastructure, agricultural research and extension services, development of technology to enhance agricultural productivity and eradication of poverty in middle- and lower-income countries.
  • The AOI is calculated by dividing the agriculture share of government expenditure by the agriculture value added share of GDP. In other words, it measures the ratio between government spending towards the agricultural sector and the sector’s contribution to GDP. India’s index is one of the lowest, reflecting that the spending towards the agricultural sector is not commensurate with the sector’s contribution towards GDP.
Test: July 2022 Weekly Current Affair - 4 - Question 11

Consider the following statements regarding 6th Schedule of Constitution of India.

  1. It deals with the administration of the tribal areas in the states of Assam, Manipur, Tripura and Mizoram.
  2. If there are different Scheduled Tribes in an autonomous district, the Governor may divide the district inhabited by them into several autonomous regions.
  3. The governor can appoint a commission to examine and report on any matter relating to the administrationof the autonomous districts.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 11
  • 6th schedule deals with the administration of the tribal areas in the four northeastern states of Assam, Meghalaya, Tripura and Mizoram.
  • The governor is empowered to organise and re-organise the autonomous districts.
  • If there are different tribes in an autonomous district, the governor can divide the district into several autonomous regions.
  • The governor can appoint a commission to examine and report on any matter relating to the administration of the autonomous districts or regions. He may dissolve a district or regional council on the recommendation of the commission.
Test: July 2022 Weekly Current Affair - 4 - Question 12

Consider the following statements regarding India’s role in UN Peacekeeping Missions.

  1. India’s contribution to UN Peacekeeping began with its participation in the UN operation in Korea in the 1950s.
  2. India became the first country to deploy an all-women contingent to a UN Peacekeeping Mission.
  3. The number of Indian peacekeepers have had one of the lowest fatalities among the peacekeepers of UN member states.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 12
  • A total 175 Indian peacekeepers have so far died while serving with the United Nations. India has lost more peacekeepers than any other UN Member State.
  • India has a long history of service in UN Peacekeeping, having contributed more personnel than any other country.
  • India’s contribution to UN Peacekeeping began with its participation in the UN operation in Korea in the 1950s, where India’s mediatory role in resolving the stalemate over prisoners of war in Korea led to the signing of the armistice that ended the Korean War.
  • India also served as Chair of the three international commissions for supervision and control for Vietnam, Cambodia, and Laos established by the 1954 Geneva Accords on Indochina.
  • India has been sending women personnel on UN Peacekeeping Missions. In 2007, India became the first country to deploy an all-women contingent to a UN Peacekeeping Mission.
  • Medical care is among the many services Indian Peacekeepers provide to the communities in which they serve on behalf of the Organization. They also perform specialised tasks such as veterinary support and engineering services.
  • India was the first country to contribute to the Trust Fund on sexual exploitation and abuse, which was set up in 2016.
Test: July 2022 Weekly Current Affair - 4 - Question 13

Consider the following statements regarding India International Bullion Exchange (IIBX).

  1. It will be India’s first bullion exchange at National Stock Exchange of India Limited (NSE) in Mumbai.
  2. Qualified jewellers will be permitted to import gold through the IIBX.
  3. The bullion exchange also has necessary infrastructure to store physical gold and silver.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 13
  • On July 29, Prime Minister Narendra Modi will launch India’s first bullion exchange — the India International Bullion Exchange (IIBX) — at Gujarat’s GIFT City (Gujarat International Finance Tec-City), India’s maiden International Financial Services Centre (IFSC) located between Ahmedabad and Gandhinagar.
  • The bullion exchange, which was announced in the 2020 Union Budget, has not only enrolled jewellers to trade on the exchange, but has also set up necessary infrastructure to store physical gold and silver.
  • Qualified jewellers will be permitted to import gold through the IIBX.
  • For the first time in India, since the liberalisation of gold imports through nominated banks and agencies in the 1990s, the eligible qualified jewellers in India, as notified by International Financial Services Centres Authority (IFSCA), have been allowed to directly import gold through IIBX. This reform permits direct participation of qualified jewellers on IIBX for the purpose of importing gold.
  • Apart from qualified jewellers, non-resident Indians and institutions will also be able to participate on the exchange after registering with the IFSCA. In the medium term, institutions such as Funds for Gold ETF are also expected to participate.
Test: July 2022 Weekly Current Affair - 4 - Question 14

Consider the following statements regarding the Governor of a State.

  1. Governor is a Constitutional office subordinate to the Central Government.
  2. The appointment of Governors is based on the Canadian Constitution.
  3. According to the Constitution, one of the qualifications for a person to be appointed as a Governor is, he/she should not belong to a state where he/she is appointed.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 14

The governor is neither directly elected by the people nor indirectly elected by a specially constituted electoral college as is the case with the president. He is appointed by the president by warrant under his hand and seal. In a way, he is a nominee of the Central government. But, as held by the Supreme Court in 1979, the office of governor of a state is not an employment under the Central government. It is an independent constitutional office and is not under the control of or subordinate to the Central government.

The American model, where the Governor of a state is directly elected, was dropped and the Canadian model, where the governor of a province (state) is appointed by the Governor-General (Centre), was accepted in the Constituent Assembly.

The Constitution lays down only two qualifications for the appointment of a person as a governor. These are:

  • He should be a citizen of India.
  • He should have completed the age of 35 years.

Additionally, two conventions have also developed in this regard over the years. First, he should be an outsider, that is, he should not belong to the state where he is appointed, so that he is free from the local politics. Second, while appointing the governor, the president is required to consult the chief minister of the state concerned, so that the smooth functioning of the constitutional machinery in the state is ensured. However, both the conventions have been violated in some of the cases.

Test: July 2022 Weekly Current Affair - 4 - Question 15

The multiple rocket launcher produced in India and developed by the Defence Research and Development Organisation (DRDO) for the Indian Army is named as

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 15

Pinaka is a multiple rocket launcher produced in India and developed by the Defence Research and Development Organisation (DRDO) for the Indian Army. Pinaka saw service during the Kargil War, where it was successful in neutralising enemy positions on the mountain tops. It has since been inducted into the Indian Army in large numbers.

Test: July 2022 Weekly Current Affair - 4 - Question 16

Consider the following statements regarding International Criminal Court.

  1. The International Criminal Court (ICC) investigates and tries individuals charged with the gravest crimes of concern to the international community like genocide, war crimes and crimes against humanity.
  2. It is governed by Vienna convention.
  3. India is a state party to ICC.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 16
  • The International Criminal Court (ICC), located in The Hague, is the court of last resort for prosecution of genocide, war crimes, and crimes against humanity.
  • It is the first permanent, treaty based, international criminal court established to help end impunity for the perpetrators of the most serious crimes of concern to the international community.
  • Its founding treaty, the Rome Statute, entered into force on July 1, 2002.
  • Funding: Although the Court’s expenses are funded primarily by States Parties, it also receives voluntary contributions from governments, international organisations, individuals, corporations and other entities.
  • India is a non-state party and non-signatory. 
     

Composition and voting power:

  • The Court’s management oversight and legislative body, the Assembly of States Parties, consists of one representative from each state party.
  • Each state party has one vote and “every effort” has to be made to reach decisions by consensus. If consensus cannot be reached, decisions are made by vote. The Assembly is presided over by a president and two vice-presidents, who are elected by the members to three-year terms.
     

The International Criminal Court (ICC) 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.

Test: July 2022 Weekly Current Affair - 4 - Question 17

In the last few years, the Indian Supreme Court has delivered some judgments of far-reaching consequence. It includes

  1. Declared the right to privacy a fundamental right
  2. Recognised transgender persons as the third gender
  3. Criminalised consensual sexual conduct between adults of the same sex

Select the correct answer code:

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 17
  • In the last few years, the Indian Supreme Court has delivered some judgments of far-reaching consequence.
  • It declared the right to privacy a fundamental right; decriminalised consensual sexual conduct between adults of the same sex; recognised transgender persons as the third gender; and outlawed triple talaq.
Test: July 2022 Weekly Current Affair - 4 - Question 18

Consider the following statements

  1. West Bengal shares border with Bangladesh, China, Nepal and Bhutan.
  2. Kolkata city is located above Tropic of Cancer.
  3. Diphu Pass is a mountain pass around the area of the disputed tri-point borders of India, China, and Myanmar.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 18
  • West Bengal shares border with Bangladesh, Nepal and Bhutan.
  • Kolkata city is located below Tropic of Cancer. Kolkata (W.B) – 22.34 N.
  • Diphu Pass is a mountain pass around the area of the disputed tri-point borders of India, China, and Myanmar.
Test: July 2022 Weekly Current Affair - 4 - Question 19

To be classified as a wetland under Ramsar Convention, the wetland should have which of the following properties?

  1. It should be a natural wetland and not artificially formed
  2. The water in the wetland can be static or flowing
  3. The depth of the marine water at low tide must not exceed six meters

Select the correct answer code:

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 19

The Ramsar Convention on Wetlands defines wetlands as “areas of marsh, fen, peat land or water, whether natural or artificial, permanent or temporary, with water that is static or flowing, fresh, brackish or salt, including areas of marine water the depth of which at low tide does not exceed six meters”.

Test: July 2022 Weekly Current Affair - 4 - Question 20

Which of the following are the advantages of having a bullion exchange in India?

  1. Bullion imports for domestic consumption can be channelized through the exchange.
  2. It will offer the advantages of price discovery, transparency in disclosures, guaranteed centralised clearing and assurance of quality.
  3. It will be an important step towards financialization of bullion-based products.

Select the correct answer code:

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 20

What are the advantages of having a bullion exchange in India?

  • The IIBX will be a gateway for bullion imports into India, where all bullion imports for domestic consumption shall be channelized through the exchange. In addition to providing a trading avenue to various participants, a bullion exchange will also offer the advantages of price discovery, transparency in disclosures, guaranteed centralised clearing and assurance of quality. A bullion exchange, apart from providing standardisation and transparent mechanism, will also be an important step towards financialization of bullion-based products.
Test: July 2022 Weekly Current Affair - 4 - Question 21

Consider the following statements.

  1. Import cover is the number of months of imports that could be paid for by a country’s Forex reserves.
  2. Import substitution is an inward-looking trade strategy aimed at replacing imports with domestic production.

Which of the above statements is/are incorrect?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 21
  • Import cover is the number of months of imports that could be covered for by a country’s international reserves. Import cover is an important indicator of the stability of a currency.
  • ‘Import Substitution’ (IS) generally refers to policy that eliminates the importation of the commodity and allows for the production in the domestic market. The objective of this policy is to bring about structural changes in the economy.
Test: July 2022 Weekly Current Affair - 4 - Question 22

In India, Internal Debt comprises

  1. Loans raised in the open market
  2. Treasury bills issued to State Governments and Commercial Banks.
  3. Non-interest bearing rupee securities issued to International Financial Institutions.

Select the correct answer code:

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 22

Internal Debt comprises loans raised in the open market, compensation and other bonds, etc. It also includes borrowings through treasury bills including treasury bills issued to State Governments, Commercial Banks and other Investors, as well as non-negotiable, non-interest bearing rupee securities issued to International Financial Institutions

Test: July 2022 Weekly Current Affair - 4 - Question 23

Consider the following statements regarding Foreign Direct Investment (FDI) in India.

  1. FDI is regulated through Foreign Contribution Regulation Act (FCRA).
  2. For an investment into a listed company, to be qualified as FDI, it should be 10% or more of the post issue paid-up equity capital.
  3. In India, FDI is not allowed into unlisted companies.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 23
  • Foreign investment in India is regulated under codified foreign exchange regulations, sector specific policies/regulations, government policies as well as International agreements. Primarily, foreign investment is regulated through the Foreign Exchange Management Act, 1999 as amended from time to time and rules/regulations issued thereunder.
  • Foreign Direct Investment (FDI) is the investment through capital instruments by a person resident outside India (a) in an unlisted Indian company; or (b) in 10 percent or more of the post issue paid-up equity capital on a fully diluted basis of a listed Indian company.
  • Foreign Portfolio Investment is any investment made by a person resident outside India in capital instruments where such investment is (a) less than 10 percent of the post issue paid-up equity capital on a fully diluted basis of a listed Indian company or (b) less than 10 percent of the paid up value of each series of capital instruments of a listed Indian company.
Test: July 2022 Weekly Current Affair - 4 - Question 24

Consider the following statements regarding Non fungible tokens (NFTs) sometimes seen in news.

  1. A non-fungible token (NFT) is an interchangeable unit of data.
  2. NFT works on blockchain.
  3. Anything that can be converted into a digital form can be an NFT.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 24
  • A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. Because each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin.
  • NFTs have drawn increasing criticism for the energy cost and carbon footprint associated with validating blockchain transactions.
  • Anything that can be converted into a digital form can be an NFT. Everything from your drawings, photos, videos, GIF, music, in-game items, selfies, and even a tweet can be turned into an NFT, which can then be traded online using cryptocurrency.
Test: July 2022 Weekly Current Affair - 4 - Question 25

Consider the following statements regarding Jim Corbett National Park.

  1. Jim Corbett National Park is India’s and Asia’s first national park.
  2. It was the first to come under the Project Tiger initiative.
  3. It completely encompasses the Shivaliks, near the foothills of the Himalayas.

Which of the above statements is/are correct?

Detailed Solution for Test: July 2022 Weekly Current Affair - 4 - Question 25
  • Jim Corbett National Park is Located in the Himalayan foothills near the tourist hill station of Nainital.
  • With its hills, grasslands, and streams, Corbett is ideal tiger territory. The place from where Project Tiger was launched in 1973, with its tiger population at 163, it boasts of a single largest tiger population in a tiger reserve and one of the highest tiger densities in the country.
  • Set up in 1936 as India’s — and Asia’s — first national park, it was named Hailey National Park. Shortly after Independence, it was renamed Ramganga National Park after the river that flows through it, and was rechristened yet again as Corbett National Park in 1956.
  • Rajaji National Park is an Indian national park and tiger reserve that encompasses the Shivaliks, near the foothills of the Himalayas.
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