UPSC Current Affairs Quiz: February 28, 2025
February 28, 2025 February 28, 2025
1. Regarding the concept of small finance banks (SFB) in India, consider the following statements:
- These banks primarily focus on providing financial inclusion to underserved sections of society.
- These banks can issue credit cards and debit cards for amounts up to 5 Lakh.
- These banks were established under the Reserve Bank of India’s guidelines in 2015.
- Indian citizens with at least 10 years of senior-level experience in banking and finance can individually or jointly apply for SFBs.
How many of the above statements are correct?
[A] Only one
[B] Only two
[C] Only three
[D] All four
Show Answer
Correct Answer: C [Only three]
Notes:- These banks primarily focus on providing financial inclusion to underserved sections of society. Correct: They aim to serve the unbanked and underbanked populations.
- These banks can issue credit cards and debit cards for amounts up to 5 Lakh. Incorrect: Small finance banks cannot issue credit cards but they are allowed to issue debit cards.
- These banks were established under the Reserve Bank of India’s guidelines in 2015. Correct: They were introduced to promote financial inclusion.
- Indian citizens with at least 10 years of senior-level experience in banking and finance can individually or jointly apply for SFBs. Correct: Resident individuals/professionals (Indian citizens), singly or jointly, each having at least 10 years of experience in banking and finance at a senior level are eligible for SFBs.
2. With respect to black plastic, consider the following statements:
- Black plastic is often made from recycled electronic waste.
- Black plastic products are entirely safe to use without any health risks.
Select the correct option from the codes given below:
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: A [Only 1]
Notes:- Black plastic is often made from recycled electronic waste. Correct: Black plastic is indeed often made from recycled electronic waste, which can contain toxic substances.
- Black plastic products are entirely safe to use without any health risks. Incorrect: Despite some products being below EPA limits, the safety of these flame retardants is still uncertain, and researchers caution about potential health risks.
3. Consider the following:
- Caspian Sea
- Black Sea
- Aral Sea
Which of the above is/are classified as a ‘closed sea’?
[A] Only 1 & 2
[B] Only 1
[C] 1 and 3
[D] 2 and 3
Show Answer
Correct Answer: C [1 and 3]
Notes:- Caspian Sea: It is the world’s largest inland body of water with no natural connection to the world’s oceans, making it a closed sea.
- Aral Sea: A shrinking inland water body with no direct connection to the ocean, also classified as a closed sea.
- Black Sea: It is not a closed sea, as it is connected to the Mediterranean Sea through the Bosporus, Sea of Marmara, and Dardanelles.
4. Consider the following statements:
- Statement-I: Hyperloop technology is designed to transport passengers at speeds exceeding 700 miles per hour in low-pressure tubes.
- Statement-II: The Hyperloop system relies on magnetic levitation to reduce friction, enabling high-speed travel.
Which one of the following is correct in respect of the above statements?
[A] Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
[B] Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
[C] Statement-I is correct, but Statement-II is incorrect
[D] Statement-I is incorrect, but Statement-II is correct
Show Answer
Correct Answer: A [Both Statement-I and Statement-II are correct and Statement-II explains Statement-I]
Notes:Statement-I:- This statement is correct.
- Hyperloop aims to achieve speeds over 700 miles per hour by utilizing vacuum-sealed tubes.
Statement-II:
- This statement is correct.
- Magnetic levitation is employed in Hyperloop to minimize friction, which is crucial for maintaining high speeds.
5. In the context of insolvency and bankruptcy, consider the following statements:
- The Insolvency and Bankruptcy Board of India (IBBI) was established in 2016 to oversee bankruptcy proceedings.
- Insolvency resolution in India is mandated to be completed within 180 days under the current laws.
- Asset Reconstruction Companies (ARCs) play a crucial role in managing non-performing loans in India.
How many of the above statements are correct?
[A] Only one
[B] Only two
[C] All three
[D] None
Show Answer
Correct Answer: B [Only two]
Notes:- The Insolvency and Bankruptcy Board of India (IBBI) was established in 2016 to oversee bankruptcy proceedings: This is correct. IBBI regulates insolvency and bankruptcy processes in India.
- Insolvency resolution in India is mandated to be completed within 180 days under the current laws: This is incorrect. The mandated period is 330 days, not 180 days.
- Asset Reconstruction Companies (ARCs) play a crucial role in managing non-performing loans in India: This is correct. ARCs acquire and manage bad loans to improve recovery rates.
The above questions are part of Daily UPSC 20 Current Affairs MCQs Series in GKToday Android Application. This series can be subscribed in the app only for user friendly test with detailed answers and explanations.
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