UPSC Current Affairs Quiz: March 8, 2025
March 8, 2025 March 8, 2025
1. Consider the following:
- Bitcoin
- Ethereum
- XRP
Which of the above is/are classified as cryptocurrencies?
[A] Only 1 & 2
[B] Only 2
[C] 1, 2 and 3
[D] None of the above
Show Answer
Correct Answer: C [1, 2 and 3]
Notes:- Bitcoin: The first and most widely recognized cryptocurrency, created in 2009 by an anonymous entity. It operates on a decentralized network using blockchain technology, enabling peer-to-peer transactions without intermediaries. Bitcoin is often referred to as digital gold due to its limited supply capped at 21 million coins. Its volatility has led to price fluctuations, attracting both investors and speculators.
- Ethereum: Launched in 2015, it introduced smart contracts that execute automatically when conditions are met. Ethereum’s platform supports decentralized applications (dApps) and is the second-largest cryptocurrency by market capitalization. Ether (ETH) is the native currency used for transactions on the Ethereum network, enabling various functionalities beyond simple currency transfers.
- XRP: Created by Ripple Labs, XRP is designed for fast and low-cost international money transfers. It aims to facilitate cross-border payments and is utilized by various financial institutions for liquidity. Unlike Bitcoin and Ethereum, XRP does not rely on mining; instead, all coins were pre-mined, with a portion held by Ripple Labs for market stabilization.
2. Consider the following:
- Solar Cycle
- Solar Maximum
- Solar Minimum
Which of the above is/are characterized by the Sun’s magnetic field flipping?
[A] Only 1 & 2
[B] Only 2
[C] 1 and 3
[D] 1, 2, and 3
Show Answer
Correct Answer: A [Only 1 & 2]
Notes:- The solar cycle describes the 11-year period during which the Sun’s magnetic field flips, leading to variations in solar activity.
- The solar maximum occurs at the peak of this cycle, marked by increased sunspots and solar flares.
- Solar minimum, conversely, is the phase with the least solar activity, characterized by few sunspots, but does not involve the magnetic field’s flipping process.
3. Consider the following Statements regarding the Juanga tribe:
- Juang is one of the 13 particularly vulnerable tribal groups (PVTGs) in Odisha.
- They are known for their clan structure and kinship organisations.
- Historically known as Patuas or “leaf-wearers,” Juang women adorned leaf girdles, while men wore small loincloths.
- Their supreme god is the Sun God and they don’t worship other Hindu deities.
Which of the above is/are correct?
[A] Only one
[B] Only two
[C] Only three
[D] All four
Show Answer
Correct Answer: C [Only three]
Notes:- Juang is one of the 13 particularly vulnerable tribal groups (PVTGs) in Odisha. Correct: Juang is one of the 13 particularly vulnerable tribal groups (PVTGs) of the total 62 tribes found in Odisha.
- They are known for their clan structure and kinship organisations. Correct: The Juangs are known for their clan structure and kinship organisations.
- Historically known as Patuas or “leaf-wearers,” Juang women adorned leaf girdles, while men wore small loincloths. Correct: Historically known as Patuas or “leaf-wearers,” Juang women adorned leaf girdles, while men wore small loincloths.
- Their supreme god is the Sun God and they don’t worship other Hindu deities. Incorrect: Although they have some Hindu beliefs, Juangs practice mostly ancient animistic rituals. Their supreme god is the sun god. However, they have also adopted the Hindu deities in addition to tribal gods and goddesses.
4. Consider the following Statements regarding the Ganges River Dolphin: - The animals are blind and rely on echolocation to communicate and move.
- Being a mammal, the Ganges river dolphin cannot breathe in water and must surface every 30-120 seconds.
- Because of the sound it produces when breathing, the animal is popularly referred to as ‘Susu’.
- It has been declared a vulnerable species under IUCN red list.
Which of the Statements given above is/are correct?
[A] Only one
[B] Only two
[C] Only three
[D] All four
Show Answer
Correct Answer: C [Only three]
Notes:- The animals are blind and rely on echolocation to communicate and move. Correct: The Ganges river dolphin can only live in freshwater and is essentially blind. They hunt by emitting ultrasonic sounds, which bounces off of fish and other prey, enabling them to “see” an image in their mind.
- Being a mammal, the Ganges river dolphin cannot breathe in water and must surface every 30-120 seconds. Correct: Being a mammal, the Ganges river dolphin cannot breathe in water and must surface every 30-120 seconds.
- Because of the sound it produces when breathing, the animal is popularly referred to as ‘Susu’. Correct: Because of the sound it produces when breathing, the animal is popularly referred to as ‘Susu’.
- It has been declared a vulnerable species under IUCN red list. Incorrect: It is a Schedule I animal under the Wild Life (Protection) Act, 1972. It has been declared an endangered (EN) species by the International Union for Conservation of Nature (IUCN).
5. With respect to capital gains tax, consider the following statements:
- Capital gains tax can be categorized into short-term and long-term based on the holding period of the asset.
- In India, short-term capital gains on equity-oriented investments are taxed at a flat rate of 15 percent.
Which of the above is/are correct?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Nor 1 nor 2
Show Answer
Correct Answer: C [Both 1 & 2]
Notes:- Capital gains tax can be categorized into short-term and long-term based on the holding period of the asset. Correct: Capital gains tax is indeed divided into short-term capital gains (STCG) and long-term capital gains (LTCG) based on how long the asset is held before sale, which helps determine tax rates.
- In India, short-term capital gains on equity-oriented investments are taxed at a flat rate of 15 percent. Correct: In India, short-term capital gains on equity-oriented investments are taxed at a flat rate of 15 percent, making it a uniform tax rate for such transactions.
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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