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Test: Weekly Current Affairs: August 22nd to 31st - UPSC MCQ


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25 Questions MCQ Test - Test: Weekly Current Affairs: August 22nd to 31st

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Test: Weekly Current Affairs: August 22nd to 31st - Question 1

What is the primary aim of holding 2+2 meetings between countries like India and Japan?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 1

2+2 meetings between countries like India and Japan primarily aim at enhancing bilateral relations and addressing mutual concerns. These high-level diplomatic dialogues involve the foreign and defence ministers of the two nations, allowing for in-depth discussions on strategic, security, and defence issues. This format helps strengthen ties and resolve conflicts, contributing to building stronger partnerships.

Test: Weekly Current Affairs: August 22nd to 31st - Question 2

Consider the following statements regarding the India-Japan 2+2 Foreign and Defence Ministerial Meeting:

1. India and Japan have agreed to work together in providing security assistance to third countries to promote regional peace and stability.

2. The strategic partnership between India and Japan is largely motivated by Russia's increasing military presence in the Indo-Pacific region.

3. The India-Japan National Security Strategy, released in 2022, has strengthened their bilateral defence relationship.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 2

Statement 1 is correct. India and Japan have indeed agreed to work together in providing security assistance to third countries to promote regional peace and stability, as highlighted in their recent 2+2 Ministerial Meeting.

Statement 2 is incorrect. The strategic partnership between India and Japan is primarily motivated by China's increasing military presence in the Indo-Pacific region, not Russia's.

Statement 3 is incorrect. The National Security Strategy mentioned is Japan's National Security Strategy, not a joint India-Japan strategy. This strategy, released in 2022, has indeed strengthened Japan's bilateral defence relationship with India, but it is not correct to refer to it as the "India-Japan National Security Strategy."

Thus, only Statement 1 is correct, and the correct answer is Option A: 1 Only.

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Test: Weekly Current Affairs: August 22nd to 31st - Question 3

Consider the following pairs:

1. Veer Guardian - Joint military exercise between India and Japan

2. SHINYUU Maitri - Naval exercise between India and Japan

3. Malabar - Military exercise involving India, Japan, Australia, and the US

4. Dharma Guardian - Air force exercise between India and Japan

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 3

1. Veer Guardian - Joint military exercise between India and Japan. This is correctly matched.

2. SHINYUU Maitri - Naval exercise between India and Japan. This is incorrectly matched. SHINYUU Maitri is an air force exercise between India and Japan.

3. Malabar - Military exercise involving India, Japan, Australia, and the US. This is correctly matched.

4. Dharma Guardian - Air force exercise between India and Japan. This is incorrectly matched. Dharma Guardian is a military exercise between India and Japan.

Thus, only two pairs (1 and 3) are correctly matched.

Explanation:

  • Veer Guardian is a joint military exercise between India and Japan, highlighting the defence cooperation between the two nations.
  • SHINYUU Maitri is an air force exercise, not a naval exercise, aimed at enhancing mutual understanding and interoperability between the air forces of India and Japan.
  • Malabar exercise involves the naval forces of India, Japan, Australia, and the US, emphasizing the strategic cooperation in the Indo-Pacific region.
  • Dharma Guardian is a joint military exercise between the armies of India and Japan, focusing on strengthening military ties and interoperability.

Hence, the correct answer is Option B.

Test: Weekly Current Affairs: August 22nd to 31st - Question 4

What was the primary focus of the recent visit of the Prime Minister of India to Poland?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 4

The recent visit of the Prime Minister of India to Poland primarily aimed at enhancing economic cooperation between the two nations. During the visit, both countries elevated their bilateral relationship to a "Strategic Partnership," emphasizing their commitment to deepen cooperation across various sectors. This move signifies a significant step towards fostering economic ties and exploring new avenues for collaboration between India and Poland.

Test: Weekly Current Affairs: August 22nd to 31st - Question 5

Consider the following statements regarding the "State of Healthcare in Rural India, 2024" report:

1. Approximately 61% of surveyed rural households in India do not have life insurance coverage.

2. Only 39% of respondents reported having access to a diagnostic facility within a reasonable distance.

3. The overall vacancy rate for Auxiliary Nurse and Midwife (ANM) is 25%.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 5

1. Approximately 61% of surveyed rural households in India do not have life insurance coverage.: Correct: The report states that 61% of surveyed households do not have life insurance.

2. Only 39% of respondents reported having access to a diagnostic facility within a reasonable distance.: Correct: The report indicates that only 39% of respondents reported having access to a diagnostic facility within a reasonable distance.

3. The overall vacancy rate for Auxiliary Nurse and Midwife (ANM) is 25%.: Incorrect: The report states that the overall vacancy rate for ANMs is 5%, not 25%.

Therefore, the correct statements are 1 and 2 only, making **Option B** the right answer.

Test: Weekly Current Affairs: August 22nd to 31st - Question 6

Consider the following pairs:

1. Dobry Maharaja Memorial - Commemorates the respect and gratitude of the Polish people for the Jamsaheb of Nawanagar.

2. Kolhapur Memorial - Dedicated to the princely state of Kolhapur for sheltering Polish refugees during World War II.

3. Monument to the Battle of Monte Cassino - Recognizes shared sacrifices of soldiers from Poland, India, and other nations during WWII.

4. Tomb of the Unknown Soldier - Honors Indian soldiers who died in service during World War II.

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 6

1. Dobry Maharaja Memorial - Correctly matched. It commemorates the respect and gratitude of the Polish people for the Jamsaheb of Nawanagar, who provided shelter to Polish children during World War II.

2. Kolhapur Memorial - Correctly matched. It is dedicated to the princely state of Kolhapur for sheltering around 5,000 Polish refugees during World War II.

3. Monument to the Battle of Monte Cassino - Correctly matched. This monument recognizes the shared sacrifices of soldiers from Poland, India, and other nations during WWII.

4. Tomb of the Unknown Soldier - Incorrectly matched. This monument honors Polish soldiers who died in service, not specifically Indian soldiers.

Thus, only three pairs are correctly matched.

Test: Weekly Current Affairs: August 22nd to 31st - Question 7

Consider the following statements:

Statement-I: India and Poland recently celebrated the 70th anniversary of their diplomatic relations by elevating their bilateral relationship to a "Strategic Partnership."

Statement-II: The Prime Minister of India's visit to Poland focused on strengthening trade and investment ties, neglecting other areas of cooperation.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 7

Statement-I is correct as India and Poland indeed celebrated the 70th anniversary of their diplomatic relations by elevating their bilateral relationship to a "Strategic Partnership." Statement-II is incorrect as the visit of the Prime Minister of India to Poland covered various areas of cooperation beyond trade and investment.

Test: Weekly Current Affairs: August 22nd to 31st - Question 8

How has ISRO benefited Indian society through its space programs and investments?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 8

ISRO has benefited Indian society by directly employing scientists, engineers, and technicians in addition to generating indirect employment in various sectors. This has not only created job opportunities but also led to advancements in satellite manufacturing and data analysis, contributing to economic growth and technological advancements in the country.

Test: Weekly Current Affairs: August 22nd to 31st - Question 9

Consider the following statements regarding ISRO's space missions and their impact on the Indian economy:

1. ISRO's investments in space missions have delivered returns of approximately 2.5 times the expenditure.

2. Between 2014 and 2024, the Indian space sector is projected to contribute USD 60 billion to the national economy.

3. The Indian space sector is expected to create 4.7 million jobs and generate USD 24 billion in tax revenues by 2024.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 9

All three statements accurately reflect the findings and projections related to ISRO's impact on the Indian economy. Let's break down each statement:

1. ISRO's investments in space missions have delivered returns of approximately 2.5 times the expenditure:

This statement is corroborated by the provided information indicating that the economic returns from ISRO's space missions are 2.5 times greater than the initial investments.

2. Between 2014 and 2024, the Indian space sector is projected to contribute USD 60 billion to the national economy:

This is directly mentioned in the text, stating that the Indian space sector is expected to contribute USD 60 billion to the economy during this period.

3. The Indian space sector is expected to create 4.7 million jobs and generate USD 24 billion in tax revenues by 2024:

Again, this is supported by the text, which projects significant job creation and tax revenue generation from the space sector.

Since all statements are correct, the answer is Option D.

Test: Weekly Current Affairs: August 22nd to 31st - Question 10

Consider the following pairs:

1. Employment Generation - ISRO has created numerous job opportunities, employing scientists, engineers, and technicians directly while also generating indirect employment in sectors such as satellite manufacturing and data analysis.

2. Enhancements in Communication and Navigation - ISRO’s satellites improve communication, weather forecasting, and navigation services, benefiting various sectors and enhancing economic productivity.

3. Disaster Management and Resource Planning - Satellites do not provide any data for disaster management, hence not aiding in the sustainable management of natural resources.

4. International Collaboration and Soft Power - ISRO's successful launch of over 300 foreign satellites has positioned India as a global leader in space technology, enhancing its international reputation and fostering collaborative efforts.

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 10

1. Employment Generation - Correct. ISRO has indeed created numerous job opportunities by employing scientists, engineers, and technicians directly, and has also generated indirect employment in sectors such as satellite manufacturing and data analysis.

2. Enhancements in Communication and Navigation - Correct. ISRO’s satellites significantly improve communication, weather forecasting, and navigation services, benefiting various sectors and enhancing economic productivity.

3. Disaster Management and Resource Planning - Incorrect. ISRO’s satellites provide vital data for disaster management, enabling swift responses to natural disasters, and assist in the sustainable management of natural resources.

4. International Collaboration and Soft Power - Correct. ISRO's successful launch of over 300 foreign satellites has indeed positioned India as a global leader in space technology, enhancing its international reputation and fostering collaborative efforts.

Thus, three pairs are correctly matched.

Test: Weekly Current Affairs: August 22nd to 31st - Question 11

Consider the following statements:

Statement-I: Glacial Lake Outburst Floods (GLOFs) pose a significant risk in the Himalayan region due to climate change-induced glacier melting, leading to the formation of potentially hazardous glacial lakes.

Statement-II: The National Glacial Lake Outburst Floods Risk Mitigation Programme (NGRMP) primarily focuses on evaluating the hazard levels of glacial lakes, implementing preventive measures, and establishing monitoring systems to mitigate the risks associated with GLOFs.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 11

Statement-I correctly highlights the vulnerability of the Himalayan region to GLOFs due to climate change impacting glacial dynamics and the formation of precarious glacial lakes. These lakes can pose a threat to downstream areas in the event of an outburst flood.

Statement-II accurately describes the objectives and key activities of the National Glacial Lake Outburst Floods Risk Mitigation Programme (NGRMP). The program aims to assess the risks associated with GLOFs, establish monitoring systems, and implement measures to reduce the likelihood of such catastrophic events. However, while both statements are individually correct, Statement-II does not directly explain the specific vulnerability of the Himalayas to GLOFs as outlined in Statement-I.

Test: Weekly Current Affairs: August 22nd to 31st - Question 12

What is the primary objective of the Digital General Crop Estimation Survey (DGCES) and the revamped FASAL Programme launched by the Union government?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 12

The primary objective of the Digital General Crop Estimation Survey (DGCES) and the revamped FASAL Programme is to enhance the accuracy of farm production estimates and improve data reliability. These initiatives aim to facilitate effective policy formulation, trade decisions, and agricultural planning by utilizing advanced technology for precise data collection and analysis.

(Note: The question focuses on a key concept from the provided information, making it suitable for assessing understanding of the initiatives aimed at improving crop data collection.)

Test: Weekly Current Affairs: August 22nd to 31st - Question 13

Consider the following statements:

1. The Digital General Crop Estimation Survey (DGCES) employs a mobile application and web portal to evaluate crop yields and enhance agricultural practices across India.
2. The revamped FASAL Programme uses remote sensing technology to create accurate crop maps and estimate areas for major crops.
3. The Unified Portal for Agricultural Statistics (UPAg Portal) provides a centralized platform for real-time information on crop production and market trends.
Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 13

1. Statement 1: The Digital General Crop Estimation Survey (DGCES) indeed employs a mobile application and web portal to evaluate crop yields and enhance agricultural practices across India. This initiative includes scientifically designed crop cutting experiments, GPS-enabled photo capture, automated plot selection, and geo-referencing, which improve the transparency and accuracy of crop data collection.

2. Statement 2: The revamped FASAL Programme (Forecasting Agricultural output using Space, Agro-meteorology and Land-based observations) does use remote sensing technology to create accurate crop maps and estimate areas for major crops. The Mahalanobis National Crop Forecast Centre (MNCFC) plays a critical role in generating these forecasts.

3. Statement 3: The Unified Portal for Agricultural Statistics (UPAg Portal) acts as a centralized platform providing near real-time information on crop production, market trends, pricing, and other crucial agricultural data. This portal facilitates data cross-verification from multiple sources, ensuring robust agricultural statistics.

All three statements accurately describe the initiatives and features associated with revamping crop data collection through e-technology in India. Therefore, the correct answer is Option D: 1, 2, and 3.

Test: Weekly Current Affairs: August 22nd to 31st - Question 14

Consider the following pairs:

1. Digital General Crop Estimation Survey (DGCES) - Evaluates crop yields using mobile apps and web portals.

2. Digital Crop Survey - Provides crop data through satellite imagery.

3. Revamped FASAL Programme - Uses remote sensing technology for crop forecasting.

4. Unified Portal for Agricultural Statistics (UPAg Portal) - Central platform for real-time agricultural statistics.

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 14

1. Digital General Crop Estimation Survey (DGCES) - Correctly matched. It evaluates crop yields using mobile applications and web portals.

2. Digital Crop Survey - Incorrectly matched. It provides precise crop data through digital platforms, not specifically through satellite imagery.

3. Revamped FASAL Programme - Correctly matched. It uses remote sensing technology for crop forecasting.

4. Unified Portal for Agricultural Statistics (UPAg Portal) - Correctly matched. It acts as a central platform for real-time agricultural statistics.

Thus, three pairs are correctly matched.

Test: Weekly Current Affairs: August 22nd to 31st - Question 15

Consider the following statements:

Statement-I: India's Prime Minister visited Ukraine to enhance cooperation in defense, emphasizing India's neutral stance in the Russia-Ukraine conflict.

Statement-II: The formation of an Intergovernmental Commission aims to restore and enhance bilateral trade and economic relationships with Ukraine.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 15

Statement-I correctly mentions India's Prime Minister visiting Ukraine to enhance cooperation in defense and clarifying India's neutral stance in the Russia-Ukraine conflict. Statement-II accurately describes the establishment of an Intergovernmental Commission to improve trade and economic relations with Ukraine, but it doesn't directly explain the content of Statement-I. Both statements are individually correct, aligning with the details provided in the text, hence option (b) is the correct choice.

Test: Weekly Current Affairs: August 22nd to 31st - Question 16

What is the primary driving force behind mass wasting events like rock falls, landslides, and debris flows?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 16

Gravity serves as the primary force behind mass wasting events, such as rock falls, landslides, and debris flows. This natural process involves the downslope movement of rock, soil, and debris driven by gravitational forces. The pull of gravity on slopes can lead to various types of mass wasting, impacting landscapes and posing risks to surrounding areas.

Test: Weekly Current Affairs: August 22nd to 31st - Question 17

Consider the following statements regarding mass wasting events in the Sedongpu Gully of Tibet:

1. The increased frequency of mass wasting events in Sedongpu Gully since 2017 is attributed to long-term warming trends and heightened seismic activity.

2. The mass wasting events in Sedongpu Gully have led to the temporary obstruction of the Brahmaputra River, causing flash floods in Assam and Arunachal Pradesh.

3. The Sedongpu basin primarily consists of Proterozoic marble, with land surface temperatures rarely exceeding 0°C prior to 2012.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 17

- Statement 1: Correct. The increase in mass wasting events in Sedongpu Gully since 2017 is indeed linked to long-term warming trends and heightened seismic activity. The study notes a significant rise in annual temperatures and increased seismic activity as contributing factors.

- Statement 2: Incorrect. While the mass wasting events have temporarily obstructed the Tsangpo River and its tributaries, this statement inaccurately identifies the Brahmaputra River directly. The Tsangpo River, which flows into India and becomes the Brahmaputra, was obstructed, causing downstream effects, but it was not directly stated that the Brahmaputra was obstructed in the text provided.

- Statement 3: Correct. The Sedongpu basin primarily consists of Proterozoic marble, with historically low land surface temperatures that rarely exceeded 0°C prior to 2012. Recent data shows an annual temperature rise beginning from 1981 to 2018.

Therefore, the correct statements are 1 and 3.

Test: Weekly Current Affairs: August 22nd to 31st - Question 18

Consider the following pairs regarding the phenomenon of mass wasting in the Sedongpu Gully of Tibet:

1. Ice-rock avalanches - Sudden falling of large ice and rock masses.

2. Debris flows - Slow, gradual movement of debris down a slope.

3. Landslides - Rapid sliding of large masses of rock and soil.

4. Slope creep - Rapid movement of soil and rock down a slope.

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 18

1. Ice-rock avalanches - Correctly matched. Ice-rock avalanches involve the sudden falling of large ice and rock masses.

2. Debris flows - Incorrectly matched. Debris flows are rapid downslope movements of water-saturated rock debris and soil, not slow movements.

3. Landslides - Correctly matched. Landslides involve the rapid sliding of large masses of rock and soil down a slope.

4. Slope creep - Incorrectly matched. Slope creep refers to a gradual, slow movement of soil and rock down a slope, not rapid movement.

Thus, only pairs 1 and 3 are correctly matched.

Test: Weekly Current Affairs: August 22nd to 31st - Question 19

Consider the following statements:

Statement I: The Unified Pension Scheme (UPS) guarantees a higher minimum pension compared to the National Pension Scheme (NPS).

Statement II: Under the UPS, employees can commute up to 40% of their pension into a lumpsum payment, reducing the monthly pension amount.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 19

Statement I is correct as the UPS does guarantee a higher minimum pension compared to the NPS. Statement II is also correct as under the UPS, employees are allowed to receive a lumpsum payment at retirement calculated as one-tenth of their monthly emoluments for every completed six months of service. However, Statement II does not explain or relate to the higher minimum pension guaranteed by the UPS, making Option A the correct choice.

Test: Weekly Current Affairs: August 22nd to 31st - Question 20

What is the primary purpose of the Security of Supplies Arrangement (SOSA) between India and the US in the field of defense cooperation?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 20

The Security of Supplies Arrangement (SOSA) aims to prioritize each other's goods and services crucial for national defense, ensuring supply chain resilience during emergencies. While it is not legally binding, it operates on the principle of mutual goodwill, allowing expedited deliveries between the US and India in times of need, thereby bolstering defense cooperation.

Test: Weekly Current Affairs: August 22nd to 31st - Question 21

Consider the following statements regarding Nuclear Powered Trains:

1. A nuclear-powered train uses a portable nuclear reactor to generate high-pressure steam which drives electric turbines to produce power for the train.

2. Thorium reactors are preferred for nuclear-powered trains because they eliminate radiation risks entirely.

3. Nuclear-powered trains can operate for extended periods without needing frequent refueling.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 21

1. Correct - A nuclear-powered train uses a portable nuclear reactor to generate high-pressure steam, which drives electric turbines to produce power for the train. This is an accurate description of how nuclear-powered trains function.

2. Incorrect - While thorium reactors are considered due to their lower radiation risk compared to other nuclear materials, they do not eliminate radiation risks entirely. The statement that they eliminate radiation risks entirely is incorrect.

3. Correct - One of the significant advantages of nuclear-powered trains is that they can operate for extended periods without needing frequent refueling. This is because nuclear reactors can deliver a high energy output with minimal fuel.

Therefore, the correct answer is Option B.

Test: Weekly Current Affairs: August 22nd to 31st - Question 22

Consider the following pairs:

1. Thorium Reactors - Considered due to their higher radiation risk compared to other nuclear materials.

2. SOSA Agreement - Focuses on maintaining defense supply chains during crises.

3. LEMOA - Establishes reciprocal logistical support between the two militaries.

4. INDUS-X - A grouping including India, Israel, the US, and the UAE dedicated to joint investments in multiple sectors.

How many pairs given above are correctly matched?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 22

1. Thorium Reactors - Considered due to their higher radiation risk compared to other nuclear materials.

- Incorrect. Thorium reactors are considered due to their lower radiation risk compared to other nuclear materials, not higher.

2. SOSA Agreement - Focuses on maintaining defense supply chains during crises.

- Correct. The Security of Supply Arrangement (SOSA) ensures supply chain resilience during emergencies for national defense.

3. LEMOA - Establishes reciprocal logistical support between the two militaries.

- Correct. The Logistics Exchange Memorandum of Agreement (LEMOA) indeed establishes reciprocal logistical support between the militaries of India and the US.

4. INDUS-X - A grouping including India, Israel, the US, and the UAE dedicated to joint investments in multiple sectors.

- Incorrect. INDUS-X is an initiative fostering defense innovation and industrial collaboration between India and the US, not a grouping with Israel, the UAE, and the US.

Hence, only pairs 2 and 3 are correctly matched.

Test: Weekly Current Affairs: August 22nd to 31st - Question 23

Consider the following statements:

Statement-I: Indian Railways is exploring nuclear power through captive units to reduce reliance on fossil fuels and increase renewable energy usage.

Statement-II: Nuclear-powered trains operate by utilizing the heat produced from a nuclear reaction to create high-pressure steam, driving electric turbines for power.

Which one of the following is correct in respect of the above statements?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 23

Statement-I is accurate as Indian Railways is indeed exploring nuclear power through captive units to reduce reliance on fossil fuels and increase renewable energy usage, as mentioned in the provided text. Statement-II accurately describes the functioning of nuclear-powered trains, where the heat from a nuclear reaction is used to create high-pressure steam, which, in turn, drives electric turbines for power. Thus, both statements are correct, and Statement-II explains the relevance and working principle associated with Statement-I, making Option A the correct choice.

Test: Weekly Current Affairs: August 22nd to 31st - Question 24

What is a key reason for the high attrition rates in Regional Rural Banks (RRBs) as highlighted by the Union Finance Minister?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 24

The key reason for the high attrition rates in Regional Rural Banks (RRBs) as highlighted by the Union Finance Minister is the lack of employee benefits. Employees often leave RRBs for better opportunities in Scheduled Commercial Banks (SCBs) that offer superior facilities while maintaining similar pay scales. Providing competitive benefits similar to SCBs, such as improved housing, healthcare, and retirement plans, can help address this issue and improve employee retention in RRBs.

Test: Weekly Current Affairs: August 22nd to 31st - Question 25

Consider the following statements:

1. Regional Rural Banks (RRBs) are jointly owned by the Central Government, State Governments, and sponsoring banks in the ratio of 50:35:15.

2. The Narasimham Committee's recommendations led to the establishment of RRBs under the RRB Act of 1976.

3. As of March 2023, the Gross Non-Performing Assets (NPAs) of RRBs were at 7.28%, the lowest in seven years.

Which of the statements given above is/are correct?

Detailed Solution for Test: Weekly Current Affairs: August 22nd to 31st - Question 25

- Statement 1: This statement is incorrect. The ownership structure of Regional Rural Banks (RRBs) is actually in the ratio of 50:15:35, not 50:35:15. The Central Government holds 50%, the State Government holds 15%, and the sponsoring bank holds 35%.

- Statement 2: This statement is correct. The Narasimham Committee indeed recommended the establishment of RRBs, which were then formed under the RRB Act of 1976. The primary objective was to provide credit and other facilities to small farmers, agricultural laborers, artisans, and small entrepreneurs in rural areas.

- Statement 3: This statement is correct. As of March 2023, the Gross Non-Performing Assets (NPAs) of RRBs were at 7.28%, which is noted as the lowest in the past seven years.

Thus, the correct statements are 2 and 3 only. Therefore, the correct answer is Option C: 2 and 3 Only.

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