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Test: June 2022 Weekly Current Affair - 2 - UPSC MCQ


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25 Questions MCQ Test Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - Test: June 2022 Weekly Current Affair - 2

Test: June 2022 Weekly Current Affair - 2 for UPSC 2024 is part of Current Affairs & Hindu Analysis: Daily, Weekly & Monthly preparation. The Test: June 2022 Weekly Current Affair - 2 questions and answers have been prepared according to the UPSC exam syllabus.The Test: June 2022 Weekly Current Affair - 2 MCQs are made for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: June 2022 Weekly Current Affair - 2 below.
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Test: June 2022 Weekly Current Affair - 2 - Question 1

Consider the following statements regarding Pradhan Mantri Kisan Samman Nidhi (PM Kisan)

  1. PM Kisan is a Central Sector scheme with 100% funding from Government of India.
  2. Under the scheme an income support of ₹6,000 is given three times in a year to all land holding farmer families.
  3. State Government and UT administration will identify the farmer families which are eligible for support under the scheme.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 1

PM-KISAN Scheme 

  • PM Kisan is a Central Sector scheme with 100% funding from Government of India. 
  • It has become operational from 1.12.2018.
  • Under the scheme an income support of 6,000/- per year in three equal installments will be provided to all land holding farmer families. 
  • Definition of family for the scheme is husband, wife and minor children. 
  • State Government and UT administration will identify the farmer families which are eligible for support as per scheme guidelines. 
  • The fund will be directly transferred to the bank accounts of the beneficiaries. 
  • There are various Exclusion Categories for the scheme. 
Test: June 2022 Weekly Current Affair - 2 - Question 2

Consider the following statements regarding the Representation of Peoples Act, 1951.

  1. The Representation of Peoples Act, 1951 provides a legal framework for the conduct of elections in India.
  2. The Act also provides for disqualification of candidates on conviction for certain offences.
  3. The key provisions of the act include allocation of seats in the House of the People and in the Legislative Assemblies and Legislative Councils of States.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 2
  • The Representation of Peoples Act, 1951 provides a legal framework for the conduct of elections in India.
  • The key provisions of the act include allocation of seats in the House of the People and in the Legislative Assemblies and Legislative Councils of States.
  • The Act also lays down procedures for electoral rolls and the manner of filling seats. There are provisions under ROPA for disqualification of candidates.
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Test: June 2022 Weekly Current Affair - 2 - Question 3

Consider the following statements.

  1. The responsibility of conducting monetary policy is explicitly mandated under the Reserve Bank of India Act, 1934.
  2. The primary objective of monetary policy is to maintain price stability without worrying about growth.
  3. The flexible inflation targeting framework by RBI has statutory basis.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 3
  • The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, 1934.
  • The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth. Price stability is a necessary precondition to sustainable growth.
  • In May 2016, the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework.
Test: June 2022 Weekly Current Affair - 2 - Question 4

The electoral college for the Indian Presidential election comprises of elected members of

  1. Rajya Sabha
  2. Lok Sabha
  3. State Legislative Assemblies
  4. Assemblies of the Union Territories of Delhi, Puducherry and Jammu & Kashmir.

Select the correct answer code:

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 4

The presidential electoral college is made up of the following:

  • elected members of the Rajya Sabha;
  • elected members of the Lok Sabha;
  • elected members of each state’s Legislative Assembly; and
  • elected members of each union territory possessing a Legislative assembly (i.e. Delhi, (Jammu & Kashmir not included) and Puducherry)

The MLAs of the UT of J&K are no longer part of the electoral college. 

Test: June 2022 Weekly Current Affair - 2 - Question 5

Consider the following statements regarding election of Rajya Sabha MPs.

  1. Any Bill passed by the Lok Sabha, needs the assent of the Rajya Sabha to become a law.
  2. The Rajya Sabha should consist of not more than 250 members.
  3. In the last three decades, no ruling party has ever (won) crossed halfway mark of the total number of seats in the Rajya Sabha.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 5
  • Any Bill, barring those designated as Money Bills by the Lok Sabha Speaker, needs the assent of the second chamber to become law.
  • The Rajya Sabha should consist of not more than 250 members – 238 members representing the States and Union Territories, and 12 members nominated by the President. As of 2021 it has a membership of 245, of which 233 are elected by the legislatures of the states and union territories using single transferable votes through open ballots, while the president can appoint 12 members for their contributions to art, literature, science, and social services.
  • In the last three-and-a-half-decades, no ruling party has ever crossed halfway mark of the total number of seats in the Rajya Sabha.
Test: June 2022 Weekly Current Affair - 2 - Question 6

Consider the following statements regarding India’s Project 75-I.

  1. Under Project 75-I, nuclear submarines are built domestically.
  2. Air independent propulsion systems (AIP) are installed on the submarines for longer underwater endurance.
  3. Project 75-I is also the first programme to be progressed under the Ministry of Defence’s new Strategic Partnership concept which offers a level-playing field to the private sector.

Which of the above statement sis/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 6
  • India’s Project 75-I, under which conventional (non-nuclear or diesel-electric) submarines are to be built domestically.
  • A major issue of contention in Project 75-I appears to be the installation of an air independent propulsion system (AIP) on these vessels. Since conventional submarines are propelled underwater by electric-power, battery endurance remains a major limitation. The submarine has to periodically expose itself to draw air for running generators that charge their battery-banks. It was to overcome this major vulnerability that several types of propulsion systems were evolved in Europe using “air independent,” closed-cycle diesel or steam engines which would endow conventional submarines with much longer underwater endurance.
  • Project 75-I is also the first programme to be progressed under the MoD’s new Strategic Partnership concept which ostensibly offers a “level-playing field” to the private sector. In this model, MDL and Larsen & Toubro will choose a foreign submarine-builder for collaboration and offer competing bids to build six modern conventional submarines.
Test: June 2022 Weekly Current Affair - 2 - Question 7

Consider the following statements.

  1. State of Environment Report 2022 was released by the Ministryof Environment, Forest and Climate Change (MoEFCC).
  2. In India most of the Rivers are polluted with heavy toxic metals such as lead, iron, nickel, cadmium, arsenic, chromium and copper.
  3. Low coliform and biochemical oxygen demand is an indicator of poor wastewater treatment from industry, agriculture and domestic households.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 7
  • Three out of every four river monitoring stations in India posted alarming levels of heavy toxic metals such as lead, iron, nickel, cadmium, arsenic, chromium and copper.
  • State of Environment Report 2022 from the environmental NGO, the Centre for Science and Environment (CSE). The report is an annual compendium of environment-development data and is derived from public sources.
  • India has 764 river quality monitoring stations across 28 states. Of these, the Central Water Commission tested water samples from 688 stations for heavy metals between August 2018 and December 2020.
  • Of the 588 water quality stations monitored for pollution, total coliform and biochemical oxygen demand were high in 239 and 88 stations across 21 States – an indicator of poor wastewater treatment from industry, agriculture and domestic households. 
Test: June 2022 Weekly Current Affair - 2 - Question 8

Consider the following statements regarding State Food Safety Index.

  1. State Food Safety Index is developed by Ministry of Health and Family Welfare to measure the performance of states on various parameters of Food Safety.
  2. The Index provides an objective framework for evaluating food safety across all States/UTs.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 8
  • Tamil Nadu topped the State Food Safety Index this year, followed by Gujarat and Maharashtra this year.
  • FSSAI has developed State Food Safety Index to measure the performance of states on various parameters of Food Safety. This index is based on performance of State/ UT on five significant parameters, namely, Human Resources and Institutional Data, Compliance, Food Testing – Infrastructure and Surveillance, Training & Capacity Building and Consumer Empowerment. The Index is a dynamic quantitative and qualitative benchmarking model that provides an objective framework for evaluating food safety across all States/UTs.
Test: June 2022 Weekly Current Affair - 2 - Question 9

Consider the following statements regarding National Mobile Monitoring Software (NMMS) App.

  1. NMMS App was launched to make real time attendance of workers at all MGNREGA worksites mandatory.
  2. To encourage transparency and increase citizen oversight, the app requires time-stamped and geotagged photographs of the workers in a day.
  3. Since the launch of the NMMS app, there has been drastic increase in the working of women employees for MGNREGA work.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 9
  • The Union government has made capturing of attendance through its app, National Mobile Monitoring System, compulsory at worksites where 20 or more workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) are employed.
  • The Ministry of Rural Development had started the exercise on a pilot basis on May 21, 2021. Initially, the utilisation of application was to be voluntary but from May 16, 2022 it has been made mandatory. The Ministry’s directive claims that the app, which requires two time-stamped and geotagged photographs of the workers in a day, encourages transparency and increases citizen oversight.
  • The biggest setback after the move has been for women employees, especially the supervisors or “work mates”. In a majority of cases, the employees’ families are averse to giving phones to women, especially smartphones. Hence, many women have dropped out.
Test: June 2022 Weekly Current Affair - 2 - Question 10

Consider the following statements regarding Indian Presidential election.

  1. Each candidate for the Presidential election would require 50 members of the electoral college to propose their name and another 50 to second it.
  2. At present, the total value of votes of MPs and MLAs is based on 2011 Census population figures.
  3. Among all the States, Goa has the lowest value of the vote of each MLA.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 10
  • The total value of votes would be 10,86,431 (5,43,200 for MPs or 700 votes each and 5,43,231 for MLAs based on 1971 Census population figures).
  • Each candidate would require 50 members of the electoral college to propose their name and another 50 to second it
  • The polling would be carried out in the Parliament House for MPs and at the respective State Assemblies for MLAs, with the Rajya Sabha Secretary General declared as the Returning Officer. The electors would cast their ballots using the pen provided by the EC as has been the norm.
  • Among all the States, Sikkim has the lowest value of the vote of each MLA.
Test: June 2022 Weekly Current Affair - 2 - Question 11

Consider the following statements regarding Green jobs.

  1. Jobs involving renewable energy, conservation of resources, ensuring energy efficient means are categorised as ‘Green jobs’.
  2. They are aimed at reducing the negative environmental impact of economic sectors and furthering the process of creating a low-carbon economy.
  3. Skill Council for Green Jobs, a not-for-profit, industry-led initiative aims to help manufacturers and service providers in India’s ‘green business’ sector to realise the potential of green jobs.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 11
  • ‘Green jobs’ refer to a class of jobs that directly have a positive impact on the planet, and contribute to the overall environmental welfare. Jobs involving renewable energy, conservation of resources, ensuring energy efficient means are categorised under the same. In all, they’re aimed at reducing the negative environmental impact of economic sectors and furthering the process of creating a low-carbon economy.
  • The Skill Council for Green Jobs was launched by the Union government on October 1, 2015. Aligned to the National Skill Development Missions, it was set up to be a not-for-profit, independent, industry-led initiative. Promoted by the Ministry of New and Renewable Energy (MNRE) and the Confederation of Indian Industry (CII), the council aims to help manufacturers and other service providers in India’s ‘green business’ sector to implement industry-led, collaborative skills push the country on the path to truly realising the real potential and significance of ‘green jobs’. 
Test: June 2022 Weekly Current Affair - 2 - Question 12

Consider the following statements.

  1. In India all the museums lie under the control of the Ministry of Culture, Government of India.
  2. National Council of Science Museums is an autonomous body under the Ministry of Culture, Government of India.
  3. A first-of-its-kind Global Summit on ‘Reimagining Museums in India’ was organised by Ministry of Culture, Government of India.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 12
  • India is home to over 1,000 museums representing a rich and diverse blend of the cultural, religious and scientific achievements that our civilisation has witnessed over the years. These museums do not just lie under the control of the Ministry of Culture. Other Ministries manage the Railway museums, the crafts and textiles museums, and the food museum, to name a few. Therefore, the government is taking a whole-of -government approach to provide a wholesome experience to all stakeholders. To achieve this, as an example, the 25 science cities, centres and museums under the National Council of Science Museums, an autonomous body under the Ministry of Culture, are backed with a Memoranda of Understanding with the Council of Scientific and Industrial Research (CSIR).
  • The Ministry of Culture organised a first-of-its-kind Global Summit on ‘Reimagining Museums in India’ in February this year.
Test: June 2022 Weekly Current Affair - 2 - Question 13

Consider the following statements.

  1. World’s first fishing cat census was done in Chilika Lake.
  2. The Chilika Lake is Asia’s largest fresh water lagoon.
  3. Spatially explicit capture–recapture (SECR) method is used to estimate the density of an animal population from capture–recapture data collected using an array of ‘detectors’.

Which of the above statement is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 13
  • The Chilika Lake, Asia’s largest brackish water lagoon, has 176 fishing cats, according to a census conducted by Chilika Development Authority (CDA) in collaboration with The Fishing Cat Project (TFCP).
  • This is the world’s first population estimation of the fishing cat, which has been conducted outside the protected area network.
  • A total of 150 camera traps were deployed in two phases with each fixed in the field for 30 days. Spatially Explicit Capture Recapture (SECR) method was used to analyse the data.
  • Spatially explicit capture–recapture (SECR or SCR) is used to estimate the density of an animal population from capture–recapture data collected using an array of ‘detectors’.
Test: June 2022 Weekly Current Affair - 2 - Question 14

Baikho festival, a spring festival is celebrated in the State of 

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 14

Every year, the Rabha community in India’s north-eastern state of Assam celebrates the Baikho festival, to please a deity of wealth and ask for good rains and a good harvest.

Test: June 2022 Weekly Current Affair - 2 - Question 15

Consider the following statements.

  1. The RBI Act provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every four years.
  2. The Monetary Policy Framework aims at setting the repo rate based on an assessment of the current and evolving macroeconomic situation.
  3. Repo rate changes transmit through the money market to the entire financial system, which in turn, influences aggregate demand.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 15
  • The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years. Accordingly, the Central Government notified in the Official Gazette 4 per cent Consumer Price Index (CPI) inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent. On March 31, 2021, the Central Government retained the inflation target and the tolerance band for the next 5-year period – April 1, 2021 to March 31, 2026.
  • The amended RBI Act explicitly provides the legislative mandate to the Reserve Bank to operate the monetary policy framework of the country.
  • The Monetary Policy Framework aims at setting the policy (repo) rate based on an assessment of the current and evolving macroeconomic situation; and modulation of liquidity conditions to anchor money market rates at or around the repo rate. Repo rate changes transmit through the money market to the entire the financial system, which, in turn, influences aggregate demand – a key determinant of inflation and growth.
Test: June 2022 Weekly Current Affair - 2 - Question 16

Consider the following statements regarding International Liquid Mirror Telescope (ILMT).

  1. International Liquid Mirror Telescope (ILMT) has been setup in India.
  2. The telescope will make sky surveys possible and obtain images that can help observe stars, galaxies, supernovae explosions and record the presence of space debris or meteorites.
  3. The Telescope uses a large pool of mercury placed in a vessel which is spun so fast, that it helps in focusing the reflected light.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 16
  • The Four-metre International Liquid Mirror Telescope (ILMT) saw the first light recently, gazing out from its vantage on Devasthal, a hill in Uttarakhand, into the deep sky.
  • The telescope, staring at the sky overhead, will make sky surveys possible and obtain images that can help observe transient phenomena such as supernovae and record the presence of space debris or meteorites – basically, watch the skies.
  • The telescope has been built by a collaboration of scientists from Canada, Belgium and India and is located at an altitude of 2,450 metres at the Devasthal Observatory campus of the Aryabhata Research Institute of Observational Sciences (ARIES) in Nainital district, an autonomous institute under the Department of Science and Technology, Government of India.
  • A large pool of mercury placed in a vessel is spun around so fast that it curves into a parabolic shape. Since mercury is reflective, this shape helps in focusing the reflected light. A thin sheet of mylar protects the mercury from the wind.
Test: June 2022 Weekly Current Affair - 2 - Question 17

Injeti Srinivas Committee was formed for making recommendations on

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 17

Injeti Srinivas Committee: A High Level Committee on CSR was formed in 2018 under the Chairmanship of Injeti Srinivas.
The main recommendations included making CSR expenditure tax deductible, allowing the carry-forward of unspent balance for a period of 3-5 years, and aligning Schedule VII of the Companies Act with the United Nations Sustainable Development Goals.

Test: June 2022 Weekly Current Affair - 2 - Question 18

Consider the following statements regarding Type-1 diabetes.

  1. Type I diabetes is a chronic condition in which the pancreas produces little or no insulin.
  2. It typically appears in adolescence and symptoms include increased thirst, frequent urination, fatigue and blurred vision.
  3. As per recent estimates, India has the highest number of incident and prevalent cases of Type-1 diabetes in the world.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 18

India has the highest number of incident and prevalent cases of Type-1 diabetes in the world as per recent estimates from the International Diabetes Federation.

Type I diabetes, also called juvenile diabetes , is a chronic condition in which the pancreas produces little or no insulin. It typically appears in adolescence and symptoms include increased thirst, frequent urination, hunger, fatigue and blurred vision. Treatment is aimed at maintaining normal blood sugar levels through regular monitoring, insulin therapy, diet and exercise.

Test: June 2022 Weekly Current Affair - 2 - Question 19

Which of the following countries border Mediterranean Sea?

  1. Greece
  2. Italy
  3. Tunisia
  4. Bulgaria

Select the correct answer code:

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 19

Test: June 2022 Weekly Current Affair - 2 - Question 20

Hike in Repo rate might lead to Increase in which of the following?

  1. Repo-linked lending rates
  2. Minimum cost of funds based lending rates (MCLR)
  3. Equated monthly instalments of existing borrowers

Select the correct answer code:

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 20

The Repo rate hike will force banks and non-banking finance companies to increase repo-linked lending rates and minimum cost of funds based lending rates (MCLR) further. This is because the cost of funds of banks will rise with the Repo rate hike. The net result will be a further rise in equated monthly instalments (EMIs) of existing borrowers. Moreover, new home, vehicle and personal loans will also become costlier. Analysts also say consumption and demand can be impacted by the Repo rate hike.

Test: June 2022 Weekly Current Affair - 2 - Question 21

Consider the following statements regarding Foreign Contribution Regulation (Amendment), Act 2020.

  1. Under the Act, foreign contribution cannot be transferred to any other person unless such person is also registered for that purpose.
  2. The act increased administrative expenses through foreign funds by an organization compared to Foreign Contribution (Regulation) Act, 2010.
  3. The act states that foreign contributions must be received only in an FCRA account opened in the State Bank of India, New Delhi Branch.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 21

Foreign Contribution Regulation (Amendment), Act 2020:

  • Under the Act, foreign contribution cannot be transferred to any other person unless such person is also registered for that purpose.
  • The amendment also forbids sub-granting by NGOs to smaller NGOs who work at the grassroots.
  • The act states that foreign contributions must be received only in an FCRA account opened in the State Bank of India, New Delhi Branch. No funds other than the foreign contribution should be received or deposited in this account.
  • Restriction in utilisation of foreign contribution: The act gives government powers to stop utilization of foreign funds by an organization through a “summary enquiry”.
  • Reduction in use of foreign contribution for administrative purposes: The act decreases administrative expenses through foreign funds by an organization to 20% from 50% earlier.
  • Surrender of certificate: The act allows the central government to permit a person to surrender their registration certificate.
Test: June 2022 Weekly Current Affair - 2 - Question 22

Consider the following statements regarding minimum support price (MSP).

  1. Generally, the minimum support price (MSP) rates are announced before the beginning of the sowing season.
  2. Among all the crops for which MSP are provided, the maximum rate is provided for Paddy.
  3. Any increase in the MSP is approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister of India.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 22

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister, approved the increase in MSPs for all 14 kharif (summer) crops for 2022-23 crop year.
Announcing the MSP hike before the sowing of kharif crops will give farmers an indication about the price which they would get and help them in deciding which crops to grow.

Test: June 2022 Weekly Current Affair - 2 - Question 23

Consider the following statements regarding Global Environment Facility (GEF).

  1. The Global Environment Facility was established on the eve of the 1992 Rio Earth Summit.
  2. The World Bank serves as the GEF Trustee, administering the GEF Trust Fund.
  3. GEF serves as financial mechanism for Montreal Protocol on Substances that Deplete the Ozone Layer

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 23

Global Environment Facility (GEF):

  • The Global Environment Facility was established on the eve of the 1992 Rio Earth Summitto help tackle our planet’s most pressing environmental problems.
  • It is an international partnership of 184 countries, international institutions, civil society organizations and the private sector that addresses global environmental issues.
  • GEF funds are available to developing countries and countries with economies in transition to meet the objectives of the international environmental conventions and agreements.
  • The World Bank serves as the GEF Trustee, administering the GEF Trust Fund.
  • It is a FINANCIAL MECHANISM for five major international environmental conventions: 
    • Minamata Convention on Mercury,
    • Stockholm Convention on Persistent Organic Pollutants (POPs),
    • United Nations Convention on Biological Diversity (UNCBD),
    • United Nations Convention to Combat Desertification (UNCCD)
    • United Nations Framework Convention on Climate Change (UNFCCC).
Test: June 2022 Weekly Current Affair - 2 - Question 24

Consider the following statements regarding Type-1 diabetes.

  1. Type I diabetes is a chronic condition in which the pancreas produces little or no insulin.
  2. It typically appears in adolescence and symptoms include increased thirst, frequent urination, fatigue and blurred vision.
  3. As per recent estimates, India has the highest number of incident and prevalent cases of Type-1 diabetes in the world.

Which of the above statements is/are correct?

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 24
  • India has the highest number of incident and prevalent cases of Type-1 diabetes in the world as per recent estimates from the International Diabetes Federation.
  • Type I diabetes, also called juvenile diabetes , is a chronic condition in which the pancreas produces little or no insulin. It typically appears in adolescence and symptoms include increased thirst, frequent urination, hunger, fatigue and blurred vision. Treatment is aimed at maintaining normal blood sugar levels through regular monitoring, insulin therapy, diet and exercise.
Test: June 2022 Weekly Current Affair - 2 - Question 25

Which of the following forms the part of assets of any bank?

  1. Loans
  2. Reserves
  3. Deposits

Select the correct answer code:

Detailed Solution for Test: June 2022 Weekly Current Affair - 2 - Question 25

Assets are things a firm owns or what a firm can claim from others. In case of a bank, apart from buildings, furniture, etc., its assets are loans given to public.

Reserves are deposits which commercial banks keep with the Central bank, Reserve Bank of India (RBI) and its cash. These reserves are kept partly as cash and partly in the form of financial instruments (bonds and treasury bills) issued by the RBI. Reserves are similar to deposits we keep with banks. We keep deposits and these deposits are our assets, they can be withdrawn by us. Similarly, commercial banks like State Bank of India (SBI) keep their deposits with RBI and these are called Reserves.

Assets = Reserves + Loans

Liabilities for any firm are its debts or what it owes to others. For a bank, the main liability is the deposits which people keep with it.

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