Daily Current Affairs MCQ- May 6, 2024 - UPSC MCQ

For the first time, researchers have created a free-standing sheet of gold that is only one atom thick and named it as Goldene.

• It is the first free-standing 2D metal and is only one atom thick.
• How it is created?
• Researchers first sandwiched an atomic monolayer of silicon between layers of titanium carbide.
• When they deposited gold on top of this sandwich structure, the gold atoms diffused into the material and replaced the silicon atoms, forming a trapped monolayer of gold atoms.
• Subsequently, scientists etched away the titanium carbide layers to create a free-standing, one atom thick layer of gold.
• This was done with the help of an age-old Japanese technique used to forge katanas and high-quality knives, using a chemical popularly known as Murakami’s reagent.
• These sheets of goldene are roughly 100 nanometres thick (a nanometre is a billionth of a metre), approximately 400 times thinner than the thinnest commercially available gold leaf.
• Applications
• It can be used in electronics industry.
• It could also be used in carbon dioxide conversion, hydrogen-generating cat alysis, selective production of value-added chemicals, hydrogen production, water purification, etc.
• Significance: It holds promise as a great catalyst because it’s much more economically viable than thicker, three-dimensional gold.

Hence both statements are correct.

A convergence of several factors give rise to the unique conditions required for Catatumbo lightning.

• It is a natural phenomenon that occurs over the Catatumbo River in Venezuela, where lightning strikes almost continuously.
• This phenomenon primarily happens at the mouth of the Catatumbo River, where it meets Lake Maracaibo, the largest lake in Venezuela.
• How it occurs?
• Warm, moist air from the Caribbean Sea is pushed towards the Andes mountains, where it collides with cooler air descending from the peaks.
• This collision creates a perfect storm of sorts, as the warmer air is forced to rise rapidly by the shape of the local landscape. And as it does, it cools and condenses, forming towering cumulonimbus clouds.
• Meanwhile, the combination of strong winds and temperature differentials generates electrical charges within these clouds.
• The cumulonimbus clouds — sometimes reaching heights of more than 5 km — load up on static electricity.
• When the electrical potential within the clouds becomes too great, it discharges in the form of lightning.
• Catatumbo lightning is distinguished by its frequency and duration: the strikes occur for up to 160 nights in a year, with an average of 28 lightning strikes per minute at its peak. Thanks to this constant flow of current, the area has earned the title of “the lightning capital of the world”.

Key facts about Lake Maracaibo

• It is located in Venezuela and is the largest lake in Latin America.
• It is also among the oldest water bodies on the planet. Its proximity to the Andes Mountains and the Caribbean Sea creates a unique geographical setup that plays a crucial role in the frequency of lightning in the region.

Hence option (b) is the correct answer.

The first case of a walrus dying from bird flu has been detected on Hopen Island in the Norwegian archipelago of Svalbard.

• It is a small, remote island in the far southeast of Svalbard and part of the Southeast Svalbard Nature Reserve.
• It is mostly covered by rocks and continuous permafrost, with a very narrow beach from which the landscape rises sharply.
• In the north of the island there are steep cliffs with horizontal shelves which are ideal for breeding seabirds, including the globally vulnerable Atlantic puffin.
• Fauna: There are huge seabird colonies on steep cliffs with Brunich’s Guillemots, Kittywakes, Fulmars etc.
• The numbers of breeding birds here make Hopen one of the most important seabirds island of the Barents Sea.

Key facts about Walrus

• It is a pinniped, or fin-footed mammal, and is related to seals and sea lions. Their skin is covered by a thin layer of small coarse hairs.
• It is easily recognised by its sheer size and magnificent tusks. It is a keystone species in Arctic marine ecosystems.
• Walruses are terrestrial, marine mammals, meaning they can swim in the ocean and walk on land and sea ice.
• They typically eat mollusks, but worms, snails, soft shell crabs, shrimp, and sea cucumbers can also be found on their menu.
• Distribution: Walruses live in Arctic and sub-Arctic regions of the world near the North Pole. They can be found in the Pacific Ocean, Atlantic Ocean, and Arctic Ocean.
• Threats: It is threatened by commercial hunting, but today the biggest danger it faces is climate change.
• Conservation status:
• IUCN Red List: Vulnerable

Hence option (d) is the correct answer.

Foreign Portfolio Investors (FPIs) domiciled at the GIFT International Financial Services Centre (IFSC) and registered with the Securities and Exchange Board of India (SEBI) have been allowed to issue participatory notes.

• These are often referred to as PNs or P-Notes.
• These are financial instruments used by investors and hedge funds to invest in the Indian securities, and no registration is required with the Security Exchange Board of India (SEBI).
• Investments flowing in through PNs are considered as offshore derivative investments.
• These are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly.
• While the FIIs have to report all such investments each quarter to SEBI, they need not disclose the identity of the actual investors.

What is Foreign Portfolio Investment?

• It refers to the purchase and holding of a wide array of foreign financial assets by investors seeking to invest in a country outside their own.
• Foreign portfolio investors have access to a range of investment instruments such as stocks, bonds, mutual funds, derivatives, fixed deposits, etc.
• FPI generally intends to invest money into the foreign country’s stock market to generate a quick return.
• In India, foreign portfolio investment is regulated by the Securities and Exchange Board of India (SEBI). 

Hence only statement 1 is correct.

Groww Mutual Fund recently launched India’s first Nifty Non-Cyclical Consumer Index Fund.

About Nifty Non-Cyclical Index Fund:

• It is a type of mutual fund that aims to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI).
• This index contains 30 companies that are not majorly impacted by economic instability and are in regular demand, making them a good investment option during economic downturns.
• Non-cyclical stocks are also known as defensive stocks; these stocks outperform their industry in the stock market despite economic instability. 
• They are not affected by cyclical changes and are in constant demand due to the everyday needs of consumers, such as food, water, and other utilities.

Key Facts about NIFTY:

• NIFTY is a market index introduced by the National Stock Exchange (NSE),India's largest stock exchange.
• It is a blended word: National Stock Exchange and Fifty coined by the NSE.
• Nifty was established in 1996 with the name CNX Nifty. Further, in 2015, it was renamed Nifty 50.
• NIFTY 50 is a benchmark-based index and also the flagship of NSE.
• It represents the performance of the 50 largest and most actively traded stocks listed on the NSE.
• It includes stocks of companies from 12 sectors, such as financial services, information technology, consumer goods, metals, pharmaceuticals, energy, etc,and collectively represents the stock market and economic trends of India. 
• NSE ranks companies based on free-float market capitalisation.
• It is one of the two main stock market indices in India, the other being SENSEX, a product of the Bombay Stock Exchange (BSE).

Hence option d is the correct answer.

Finance Minister has denied reports that the Income Tax Department is planning to introduce changes in the capital gains tax structure in case the government is voted back to power in the ongoing Lok Sabha 2024 polls.

About Capital Gains Tax (CGT): 

• The term capital gains can be defined as profits accumulated from the sale of any capital asset.
• Land, buildings, house property, vehicles, patents, trademarks, leasehold rights, machinery, and jewellery are a few examples of capital assets.
• This includes having rights in or in relation to an Indian company.
• It also includes the rights of management, control, or any other legal right. 
• Depending on the duration, capital gains can either be short-term or long-term.
• Since profits are categorised as an ‘income’, they are liable for taxation, which is known as CGT.
• Such taxes are levied when an asset is transferred between owners.
• This tax applies to both individuals and businesses.
• Taxpaying individuals can use tax-efficient financial strategies to reduce the burden of their CGT.
• There are two types of CGT: Short-term CGT and Long-term CGT
• Short-term CGT:
• Any asset that is held for less than 36 months is termed as a short-term asset.
• In the case of immovable properties, the duration is 24 months.
• The profits generated through the sale of such an asset would be treated as short-term capital gain and would be taxed accordingly.
• Long-term CGT:
• Any asset that is held for over 36 months is termed as a long-term asset.
• Assets like preference shares, equities, UTI units, securities, equity-based Mutual Funds and zero-coupon bonds are also considered as long-term capital asset if they are held for over a year.
• The profits generated through the sale of such an asset would be treated as long-term capital gain and would attract tax accordingly.

Hence both statements are correct.

The MQ-9B Predator drones India will be buying from the United States will be placed in two States: Tamil Nadu and Uttar Pradesh.

About MQ-9B Predator:

• It is a high-altitude, long-endurance armed Unmanned Aerial Vehicle (UAV), capable of remotely controlled or autonomous flight operations.
• It is a variant of the MQ-9 "Reaper" developed by General Atomics Aeronautical Systems (GA-ASI), with its primary purpose being for the United States Air Force (USAF).
• The United States uses these drones for surveillance, intelligence gathering, and airstrikes. 
• The MQ-9B drone has two variants: SkyGuardian and SeaGuardian. The latter has been in operation by the Indian Navy since 2020.
• Features:
• It can carry up to 5,670 kg and has a fuel capacity of 2,721 kg.
• It can operate at altitudes exceeding 40,000 feet.
• It can fly as close as 250 metres from the ground without the target even having an inkling it is there unless spotted.
• With a maximum endurance of 40 hours, they provide a reliable platform for prolonged surveillance.
• It has a top speed of 275 mph, or 442 km/h.
• It is armed with strike missiles, allowing it to engage and eliminate enemy targets with high precision. It can carry four Hellfire missiles and around 450 kg of bombs.
• This feature enhances its effectiveness in various roles, including land and maritime surveillance, anti-submarine warfare, anti-surface warfare, electronic warfare, and expeditionary missions.
• It is capable of automatic take-offs and landings, providing operational flexibility. 
• It can safely integrate into civil airspace, enabling joint forces and civil authorities to obtain real-time situational awareness in the maritime domain, day or night. 

Hence option c is the correct answer.

The Centre recently warned about “drip pricing”, saying it can surprise consumers with “hidden charges”.

About Drip Pricing:

• Drip pricing is a pricing technique in which firms advertise only part of a product’s price and reveal other charges later as the customer goes through the buying process.
• Drip pricing may initially withhold unavoidable fees, such as booking, service, resort, or credit card fees, local hotel taxes, or any other add-ons like internet access or certain facilities and amenities that are required to use a product or service.
• These additional and often mandatory costs are then disclosed by the seller one by one or “dripped” to the buyer at the point of purchase.
• It is commonly used in the hospitality and travel markets, as well as for other online payments. 
• Companies may utilize a price-dipping approach in order to entice a customer into starting the purchase process, at which point the customer may not want to restart his or her search, once they find out the added costs.
• It can be frustrating for consumers, who typically want to know up front how much a product or service will cost and may feel duped by later add-ons.
• Drip pricing can make comparison shopping more difficult and penalize sellers who are more transparent with their pricing.
• An example of price dipping is the cost of an airplane ticket that doesn't include baggage fees. 

Hence option b is the correct answer.

A recent study has claimed that BioTRIG, a new waste management technology could help rural Indians.

• It is a new waste management technology based on the pyrolysis system.
• It works by sealing the waste inside an oxygen-free chamber and heating it above 400 degrees Celsius. Useful chemicals are produced in the process.
• In the study, the researchers outlined that three products of pyrolysis — bio-oil, syngas and biochar fertiliser — could help rural Indians live healthier and greener lives.
• Significance
• The syngas and bio-oil facilitate heat and power the pyrolysis system in future cycles and surplus electricity is utilized to power local homes and businesses.
• The clean-burning bio-oil to replace dirty cooking fuels in homes and using biochar to store carbon, while improving soil fertility.
• Computer simulations showed that the BioTRIG system could also be effective in real-world applications.
• It could help reduce greenhouse gas emissions from communities by nearly 350 kg of CO₂-eq per capita per annum.
• It could help rural Indians cut indoor air pollution, improve soil health, and generate clean power

What is Pyrolysis?

• It is a kind of chemical recycling that turns leftover organic materials into their component molecules.
• It works by sealing the waste inside an oxygen-free chamber and heating it to more than 400 degrees Celsius, producing useful chemicals in the process.

Hence both statements are correct.

The early onset bloom of jacaranda set off alarm bells among residents and scientists in Mexico City.

• It’s also known by its synonym Jacaranda acutifolia.
• It is a deciduous tree, Jacaranda mimosifolia comes from the Bignoniaceae family.
• Blue jacaranda is native of Brazil and North West Argentina.
• These are hardy trees that grow well in tropical climes, well-drained soil and plenty of sun to showcase their lavender touch.
• They are widely grown in warm parts of the world and in greenhouses for their showy blue or violet flowers and attractive, oppositely paired, compound leaves. 
• Uses: In Brazil, its wood is used to make guitars. It has no edible use, its bark and root has medicinal advantages.
• It is also recommended as an alternative wood carving tree species, especially in Kenya.
• Ecological significance: They attract more hummingbirds and bees than many native trees, so a change in flowering could lead to a decrease in these populations.
• Concern: Some jacarandas began blooming in early January, when they normally awaken in spring.

Hence both statements are correct.