Daily Current Affairs MCQ - February 28, 2022 - UPSC MCQ

Three days before he invaded Ukraine, President Vladimir Putin described Russia’s southwestern neighbour as a bogus country with no history, identity, or “stable traditions of real statehood”.

• Ukraine is in the east of Europe, and is bound by Russia to its northeast, east, and southeast, and the Black Sea in the south. In the southwest, west, and north, Ukraine shares borders, in the anticlockwise direction, with Moldova, Romania, Hungary, Slovakia, Poland, and Belarus.
• It is the largest country in Europe after Russia itself.
• In July 2021, Ukraine’s population was estimated at 43.7 million. Of this, 77.8% was of Ukrainian ethnicity and 17.3% was Russian.
• Ukraine is the poorest country in Europe in terms of gross domestic product and gross national income per capita. It has deposits of iron ore and coal, and exports corn, sunflower oil, iron and iron products, and wheat.

Ukraine as part of USSR

• Months after the Bolsheviks took power in the October Revolution of 1917, an independent Ukrainian People’s Republic was proclaimed, but a civil war continued between various claimants to power, including Ukrainian factions, anarchists, Tsarists, and Poland.
• In 1922, Ukraine became part of the Union of Soviet Socialist Republics (USSR).
• In 1991, the USSR was dissolved and the parliament of Ukraine adopted the country’s Act of Independence.

India and Ukraine

• India is Ukraine’s largest export destination in the Asia Pacific region.
• The country’s major export to India is sunflower oil, followed by inorganic chemicals, iron and steel, plastics, and chemicals.
• Ukraine’s major import from India is pharmaceutical products.

Hence both statements are correct.

Recently, researchers of Bhakta Kavi Narsinh Mehta University (BKNMU), Junagadh, discovered a new species of spider and named it Narsinhmehtai in honour of Narsinh Mehta, the 15th century poet who was a devotee of Lord Krishna.

• Mehta is believed to have been born in Talaja in present-day Bhavnagar district in 1410 and died in Junagadh in 1480s.
• Mehta used to spend time in Krishna-bhakti (devotion to Lord Krishna) even after his marriage to Manekba, paying little attention to family duties.
• Mehta penned more than 750 poems, called padd in Gujarat. They mainly deal with devotion to Lord Krishna, gyan (wisdom) vairagya (detachment from worldly affairs). Others like Shalmshano Vivah, Kunvarbainu Mameru, Hundi and Harmala are believed to be autobiographical accounts of different occasions in his life. Vaishanavajn to tene kahiye, Mahatma Gandhi’s favourite bhajan is Mehta’s creation.

Hence both statements are correct.

Dera Sacha Sauda chief Gurmeet Ram Rahim has been provided Z plus category security by the Haryana government.

• Protection is generally given to someone who holds a position of consequence either in the government or in civil society — hence the informal description “VIP security”.
• The level of security is decided by the Ministry of Home Affairs (MHA) in the case of the Centre, and by the state government in the case of states.

Levels of protection extended to individuals by governments at the Centre and the states

• There are largely six types of security cover: X, Y, Y plus, Z, Z plus, and SPG (Special Protection Group).
• While the SPG is meant only for the PM and his immediate family, other protection categories can be provided to anyone about whom the Centre or state governments have inputs about a threat.
• X category security usually entails one gunman protecting the individual;
• Y has one gunman for mobile security and one (plus four on rotation) for static security;
• Y plus has two policemen (plus four on rotation) for mobile security, and one (plus four on rotation) for residence security;
• Z has six gunmen for mobile security, and two (plus eight) for residence security; and
• Z plus has 10 security personnel for mobile security and two (plus eight) for residence security.

Hence both statements are correct.

Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane launched the Union MSME RuPay Credit Card of Union Bank of India in Sindhudurg at the two day MSME Conclave being held in the district.

• The card is being offered by Union Bank of India in association with National Payments Corporation of India (NPCI). It provides a simplified payment mechanism to MSMEs to meet their business-related operational expenses.
• The RuPay Card offers benefits like anytime digital payments, interest-free period and will carry interest rate similar to the rate charged for loans.
• MSME borrowers will be able to enjoy an interest-free credit period of up to 50 days on their business spends.

Hence both statements are correct.

The National Stock Exchange (NSE), the country's largest equities and derivatives exchange, was earlier this month fined for laxity in governance pertaining to actions taken during the tenure of its former MD and CEO Chitra Ramkrishna.

• Markets regulator SEBI (Securities and Exchange Board of India) in its order noted that the NSE was a systemically important market infrastructure institution (MII).
• A panel set up under the chairmanship of former RBI Governor Bimal Jalan — to examine issues in MIIs — in its 2010 report said: “The term ‘market infrastructure’ denotes such fundamental facilities and systems serving this market.
• Stock exchanges, depositories and clearing houses are all Market Infrastructure Institutions and constitute a key part of the nation's vital economic infrastructure.

What are the specific institutions in India that qualify as MIIs?

• Among stock exchanges, the SEBI lists seven, including the BSE, the NSE, the Multi Commodity Exchange of India and the Metropolitan Stock Exchange of India.
• There are two depositories — charged with the safekeeping of securities and enabling their trading and transfer — that are tagged MIIs: the Central Depository Services Ltd. and the National Securities Depository Ltd.
• The regulator also lists seven clearing houses including the Multi Commodity Exchange Clearing Corporation. Clearing houses, for their part, help validate and finalise securities trades and ensure that both buyers and sellers honour their obligations.

Hence both statements are correct.

Russia used its veto powers to block a United Nations Security Council (UNSC) resolution condemning its invasion of Ukraine and demanding an immediate withdrawal of its troops.

• Eleven out of the 15 permanent and non-permanent members — including the US, UK and France — voted in favour of the resolution, while India, China and the United Arab Emirates (UAE) chose to abstain.
• Indian Ambassador T. S. Tirumurti, who abstained, said that “dialogue is the only path forward,” no matter how daunting it might seem, and urged the Council to restore the difficult path forward.
• The United Nations Security Council "veto power" is the power of the five permanent members of the UN Security Council (China, France, Russia, the United Kingdom, and the United States) to veto any "substantive" resolution.
• However, a permanent member's abstention or absence does not prevent a draft resolution from being adopted.
• This veto power does not apply to "procedural" votes, as determined by the permanent members themselves.

Hence only statement 1 is correct.

The ECGC Ltd. has decided to withdraw coverage for shipments to Russia with effect from February 25, which is a huge setback for exporters, industry body FIEO said.

• ECGC Ltd. has now put Russia in the Restricted Cover Category (RCC-I) from the earlier ‘open cover’ category. ‘Open cover’ category enables policyholders to obtain cover on a more liberalised basis.
• The ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd) is a government owned export credit provider. It provides export credit insurance support to Indian exporters.
• It is under the ownership of Ministry of Commerce and Industry, Government of India.
• It is based in Mumbai.
• It was established in 1957.

Hence only statement 1 is correct.

Union Cabinet has approved offering of coal by coal companies through a common e-auction window instead of sector specific auctions.

The Cabinet Committee on Economic Affairs approved the following:

• Offering of all the non-linkage coal by coal companies through one e-auction window of CIL (CIL) / Singareni Collieries Company Limited (SCCL).
• This e-auction will cater to all the Sectors namely Power Sector and Non Regulated Sector (NRS) including traders and coal would be offered through this auction in place of the present system of sector specific auctions.
• The above will be subject to CIL / SCCL meeting the coal linkage requirements against existing linkages and do not impact the current linkages to power and non-power consumers at contracted prices.
• Coal offered through the single e-auction window shall be transport mode agnostic with default option being through Rail mode. However, coal may be lifted by the consumers through the road mode/other modes depending upon their choice and suitability without paying any additional charges or discount to the coal companies.
• Long term allotment of coal by CIL/SCCL, without affecting the supplies against existing coal linkages, to their own gasification plants shall be allowed at prices as may be decided by the coal company. However, the taxes, duties, royalty etc shall be paid by the coal companies on the notified prices of coal for power sector.

Major impact:

• Market distortions would be removed and single rate for all the consumers will evolve in the e-auction market. It shall increase operational efficiencies and lead to an increase in domestic coal demand by efficiency in domestic coal market.

Hence both statements are correct.

Union Minister for Micro, Small & Medium Enterprises (MSME) inaugurated Coir Board Regional Office at Kankavali in Sindhudurg, Maharashtra.

Union Minister for Micro, Small & Medium Enterprises (MSME) inaugurated Coir Board Regional Office at Kankavali in Sindhudurg, Maharashtra.

• Coir Board is implementing several programmes to develop coir industry in the Konkan Zone. With the opening of this regional office, Coir Board will bring more programmes to the region.
• The Coir Board is a statutory body established by the Government of India under the Coir Industry Act 1953 for the promotion and development of the coir (coconut fibre) industry in India.
• The head office of the Coir Board is in Kochi.
• The board functions under the Ministry of Micro, Small and Medium Enterprises.

Hence only statement 2 is correct.

• Exercise MILAN is the mega multilateral naval exercise conducted by the Indian Navy.
• MILAN is a biennial multilateral naval exercise incepted by the Indian Navy in 1995 at Andaman and Nicobar Command.
  • Starting with the participation of only four countries, viz Indonesia, Singapore, Sri Lanka and Thailand, in the 1995 edition, the exercise has since transitioned leaps and bounds in terms of the number of participants and complexity of exercises. Hence, statement 1 is not correct.
• The Exercise MILAN 2022 is scheduled to commence from 25^th Feb 2022 in the ‘City of Destiny’, Visakhapatnam. Hence, statement 2 is not correct.
  • MILAN 22 will witness its largest-ever participation, with more than 40 countries sending their warships/high-level delegations.
  • This edition of MILAN will be larger in ‘scope and complexity’ with focus on exercises at sea including exercises in surface, sub-surface and air domains and weapon firings.
  • Theme 2022: ‘Camaraderie - Cohesion – Collaboration’.