Daily Current Affairs MCQ - December 22, 2021 - UPSC MCQ

Union Finance Minister Nirmala Sitharaman informed the Lok Sabha that banks have recovered ₹13,109.17 crore by selling the assets of fugitives like Vijay Mallya, Nirav Modi and Mehul Choksi.

• Fugitive Economic Offenders Act (FEOA) became a law on July 31, 2018.
• Objectives:
  • To deter economic offenders from avoiding the process of Indian law by remaining outside the jurisdiction of Indian courts.
  • To ensure that fugitive economic offenders return to India to face the action in accordance with law.
• Defining Fugitive economic offender (FEO): FEO is defined as an individual
  • who has committed offences involving an amount of 100 crore rupees or more and
  • has ran away from India to avoid criminal prosecution.
• Special Court: A special court will be established under the Prevention of Money-laundering Act, 2002 to declare a person as a Fugitive Economic Offender.
• Attachment of property: Special courts can direct the Central government to seize assets of fugitive economic offender including those that are proceeds of the crime.
• Appeal: Appeals against the orders of the special court will lie before the High Court.
• Hence both statements are correct.

The Government of India and the Asian Development Bank (ADB) on 17th December 2021 signed a $350 million policy-based loan to improve access to urban services in India by accelerating policy actions and reforms to enhance service delivery and promote performance-based central fiscal transfers to urban local bodies (ULBs).

• The first subprogram under Sustainable Urban Development and Service Delivery Program will establish essential policies and guidelines for urban reforms at the national level followed by specific reform actions and program proposals at the state and ULB-level under second subprogram.
• ADB will provide knowledge and advisory support to the Ministry of Housing and Urban Affairs in program implementation, including monitoring and evaluation.

Hence only statement 1 is correct.

The Jammu and Kashmir Delimitation Commission has proposed to increase six seats for the Jammu division and one for the Kashmir division, besides reserving 16 seats for the Scheduled Castes (SC) and the Scheduled Tribes in the Union Territory.

• The Kashmir division currently has 46 seats and Jammu 37. The commission is headed by Justice Ranjana Prakash Desai (retd.).
• The commission has not specified the districts where the SC and ST seats would be reserved.
• It said that the 2011 census was the basis for carving out the new seats. According to the census, the population of the Kashmir division was 68.8 lakh and Jammu 53.5 lakh.
• The draft proposal added that nine seats would be reserved for the Scheduled Tribes and seven for the Scheduled Castes. Jammu and Kashmir will now have a 90-member Legislative Assembly, up from the 87 prior to the Centre’s decision to end the special constitutional position of the erstwhile State.
• This has triggered sharp reactions from the regional parties. There is already a Supreme Court ruling granting a status quo regarding delimitation, if the commission prepares the draft based on 2011 census. It will be unconstitutional.
• Hence both statements are correct.

National Commodities and Derivatives Exchange

• NCDEX is an online commodities exchange dealing primarily in agricultural commodities in India. Hence, statement 1 is correct.
• It is a public limited company, established on 23^rd April 2003 under the Companies Act, 1956.
• The exchange was founded by some of India's leading financial institutions such as ICICI Bank Limited, the National Stock Exchange of India and the National Bank for Agricultural and Rural Development, among others. Hence, statement 2 is correct.
• These include 25 contracts for agricultural products. NCDEX is run by an independent board of directors with no direct interest in agriculture.

• The Organisation of Islamic Cooperation (OIC) is the collective voice of the Muslim world. It is the second-largest intergovernmental organisation after the United Nations with a membership of 57 states.
• It was established upon a decision of the historical summit which took place in Rabat, the Kingdom of Morocco on the 25^th of September 1969. Hence, statement 1 is not correct.
• Headquarters: Jeddah, Saudi Arabia. Hence, statement 2 is correct.
• India is not a member of the OIC. However, India was invited as a guest of honour at the 46^th Session of the Council of Foreign Ministers in 2019. Hence, statement 3 is correct.

• The Islamic Development Bank is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in December 1973, and the Bank was formally opened in October 1975.
  • The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari’ah i.e., Islamic Law. Hence, statement 1 is correct.
  • The Bank’s principal office is in Jeddah in the Kingdom of Saudi Arabia.
• The present membership of the Bank consists of 56 countries.
  • The basic condition for membership is that the prospective member country should be a member of the OIC, pay its contribution to the Capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors. Hence, statement 2 is not correct.

Bibi Jagir Kaur, the first woman to be elected SGPC president more than 20 years ago, has made a comeback and has been elected as the new SGPC president.

• The Shiromani Gurdwara Parbandhak Committee (or SGPC) is an organization in India responsible for the management of gurdwaras, Sikh places of worship in three states of Punjab, Haryana, and Himachal Pradesh and union territory of Chandigarh.
• SGPC also administers Darbar Sahib in Amritsar.
• The SGPC is governed by the chief minister of Punjab.
• The SGPC manages the security, financial, facility maintenance and religious aspects of Gurdwaras as well as keeping archaeologically rare and sacred artifacts, including weapons, clothes, books and writings of the Sikh Gurus.
• It was formed in 1920.
• The first and the only woman and also incumbent President of SGPC is Jagir Kaur .

Hence both statements are correct.

8 Track and Field Athletes were included in the core group of the Target Olympic Podium Scheme at the 50th MOC meeting held on November 26.

• The Target Olympic Podium Scheme is a flagship program of the Ministry of Youth Affairs and Sports which is an attempt to provide assistance to India’s top athletes.
• The Scheme looks to add a premium to the preparations of these athletes so that they can win Olympic medals in 2020 and 2024 Olympics.
• Under the Scheme, the Department of Sports shall identify athletes who are potential medal winners in 2020 / 2024 Olympics.
• The idea of the Scheme is to also keep an eye in the future and fund a Developmental Group of Athletes who are medal prospects for the Olympic Games in Paris in 2024 and Los Angeles Games in 2028.
• The Mission Olympic Cell is a dedicated body created to assist the athletes who are selected under the TOP Scheme. The MOC is under the Chairmanship of the Director General, Sports Authority (DG, SAI).

Hence only statement 2 is correct.

MARCOS are being deployed in the Eastern Ladakh alongside the Indian Army against the Chinese military. MARCOS are present in the vicinity of the Pangong Tso lake where they will soon be conducting missions using boats.

• The Marine Commandos, abbreviated to MARCOS and officially called the Marine Commando Force (MCF), is the special forces unit of the Indian Navy that is responsible for conducting special operations.
• MARCOS was founded in February 1987. MARCOS are capable of operating in all types of environments; at sea, in air and on land.
• The force has gradually acquired experience and an international reputation for professionalism. The MARCOS regularly undertake specialised maritime operations in Jammu and Kashmir through the Jhelum River and Wular Lake.

Hence only statement 1 is correct.

An asteroid named (153201) 2000 WO107, that is more than 800 metre high and over 500 metre wide - bigger than skyscraper Burj Khalifa - flew past earth on November 29.

• Burj Khalifa is the world’s tallest building with a height of 829.8 metre and asteroid 2000 WO107, which was discovered in 2000, has a diameter is 820 metre.
• The massive asteroid has been classified as a Near-Earth Asteroid (NEA). NEA is a group of comets and asteroids pulled into the orbit due to the gravitational forces of nearby planets, which allows them to enter the Earth’s neighbourhood.
• Nasa’s Jet Propulsion Laboratory has classified it as a ‘Potentially Hazardous Asteroid’ due to its predicted close pass with Earth.
• Hence both statements are correct.