Current based PRELIMS QUESTION 15 July 2020

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1. Which of the following places in news and their country of location are correctly matched?
Places in news Country of location
1. Qayyarah Iraq
2. Huanggang China
3. Herat Iran
4. Kunduz Afghanistan
Choose the correct option.
(a) 1, 2 and 3 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 4 only
Answer-d
Explanation-
Places in news Country of location
Qayyarah Iraq
Huanggang China
Herat Afghanistan
Kunduz Afghanistan

2. Which of the following Puppetry art form and State is correctly matched?
Puppetry art State
1. Gombeyatta Karnataka
2. Bommalattam Tamil Nadu
3. Ravanachhaya Orissa
4. Yampuri Bihar
Choose the correct option.
(a) 2 and 3 only
(b) 1, 2 and 3 only
(c) 3 and 4 only
(d) All of the above
Answer-d
Explanation-
Puppetry art in India
http://ccrtindia.gov.in/puppetforms.php

3. Consider the following statements regarding the Society for Biomedical technology (SBMT).
1. It is an inter-ministerial initiative of the Government of India established to promote healthcare by providing indigenous solutions in the field of medical equipment and devices.
2. It was established under the Department of Defence Research and Development (DRDO).
3. The management council of Society is the chaired jointly by the Secretaries of DRDO and DST.
Which of the statements given above are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer-d
Explanation-
Society for Biomedical technology (SBMT)
It is an interministerial initiative of the Government of India established to promote healthcare by providing indigenous solutions in the field of medical equipment and devices.
It was established under the Department of Defence Research and Development DRDO) in collaboration with Department of Science and Technology (DST), Ministry of Social Justice and Empowerment and Ministry of Health & Family Welfare. The activities of the Society are carried out by the Laboratories of Defence Research and Development Organisation and a few other well known Academic Institutions and Medical Centres.
The Society was officially launched on 27 June 1993 at Nizam’s Institute of Medical Sciences (NIMS), Hyderabad by Dr. P Rama Rao, the then Secretary, DST in the presence of His Excellency Dr. APJ Abdul Kalam, Former President of India and the then Secretary, DRDO & also Scientific Adviser to Raksha Mantri.
The Society was registered at Bangalore under the Registrar of Societies, Karnataka on 1st October 1993 and the registered office of SBMT is located at Defence Bioengineering and Electro medical Laboratory (DEBEL), Bangalore. The Director, DEBEL functions as the Chief Executive of the Society.
The Society is governed by the MANAGEMENT COUNCIL chaired jointly by the Secretaries of DRDO and DST and includes the Secretaries from the Ministry of Health & Family Welfare, Ministry of Social Justice & Empowerment among others (vide below for constitution). In addition, the activities are guided by the PROGRAMME MANAGEMENT BOARD and the ADVISORY COUNCIL.
http://www.sbmtindia.org/about/

4. Consider the following statements regarding the Keqiang Index.
1. The Economist magazine constructed a Li Keqiang Index and analysis showed that the index was more relevant than GDP.
2. It is an economic measurement index to measure China’s economy using three indicators, as reportedly preferred by Li Keqiang.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer-c
Explanation-
Keqiang Index
Back in 2007, the then US ambassador in China met Li Keqiang, who at the time was Chinese Communist Party secretary for Liaoning and is now China’s prime minister. Li told the envoy that the GDP (gross domestic product) numbers were unreliable, and that he went by three real-sector indicators: Railway cargo volume, electricity consumption, and loans disbursed by banks. Building on that, The Economist magazine constructed a Li Keqiang Index.
Subsequent analysis showed that the index was more relevant than GDP for almost every commodity and currency.
The index, which comprises the annual growth rate of outstanding bank loans (40%), electricity consumption (40%) and rail freight (20%), shows a significantly more volatile trajectory for China’s growth than the official GDP.
Indian stock brokerage Ambit Capital established the Keqiang index for the subcontinent as it tries to unravel the mysteries of new gross domestic product (GDP) data introduced in January that has puzzled economists since.
Ambit’s Keqiang index combines motor vehicles sales, power consumption, capital goods imports and cargo handled at airports to capture private consumption and investment demand. The name is easy to grasp and remember by investors, Mukherjee said.
While the government reported growth accelerated to 7.4% in the three months through September from 7% in the prior quarter, Ambit estimates a deceleration to 6% from 6.3%.
https://www.cmegroup.com/education/featured-reports/chinas-li-keqiang-index-headwinds-for commodities.html
https://www.livemint.com/Politics/8MVMAKBJTnO5jf05sh2BDI/India-now-has-a-Keqiang-Indexand-it-paints-a-bleaker-pictur.html

5. Consider the following statements regarding the Jan Dhan Yojana.
1. All bank accounts will be linked to a debit card which would be issued under the Ru-Pay scheme.
2. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted.
3. Overdraft facility upto Rs. 10,000/- is available in only one account per household, preferably lady of the household.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer-d
Explanation-
Pradhan Mantri Jan Dhan Yojana (PMJDY)
It is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. Accounts opened under PMJDY are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria.
Document required opening an account under Pradhan Mantri Jan-Dhan Yojana. An account can be opened by presenting an officially valid document.
1. The passport,
2. The driving licence,
3. The Permanent Account Number (PAN) Card,
4. The Voter’s Identity Card issued by Election Commission of India,
5. Job card issued by NREGA duly signed by an officer of the State Government,
6. The letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number, or
7. Any other document as notified by the Central
Government in consultation with the Regulator:
Provided that where simplified measures are applied for verifying the identity of the clients the following documents shall be deemed to be officially valid documents:—
1. Identity card with applicant’s Photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;
2. Letter issued by a Gazetted officer, with a duly attested photograph of the person.
Reserve Bank of India (RBI), vide its Press Release dated 26.08.2014, has further clarified that those persons who do not have any of the ‘officially valid documents’ can open “Small Accounts” with banks. A “Small Account” can be opened on the basis of a self-attested photograph and putting his/her signatures or thumb print in the presence of officials of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rupees one lakh in a year), aggregate withdrawals (nor more than Rupees ten thousand in a month) and balance in the accounts (not more than Rupees fifty thousand at any point of time). These accounts would be valid normally for a period of twelve months. Thereafter, such accounts would be allowed to continue for a further period of twelve more months, if the account-holder provides a document showing that he/she has applied for any of the Officially Valid Document, within 12 months of opening the small account.
Special Benefits under PMJDY Scheme
1. Interest on deposit.
2. Accidental insurance cover of Rs. 2 lakhs
3. No minimum balance required.
4. The scheme provides life cover of Rs. 30,000/- payable on death of the beneficiary, subject to fulfillment of the eligibility condition.
5. Easy Transfer of money across India
6. Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
7. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted
8. Access to Pension, insurance products.
9. The Claim under Personal Accidental Insurance under PMJDY shall be payable if the Rupay Card holder have performed minimum one successful financial or non-financial customer induced transaction at any Bank Branch, Bank Mitra, ATM, POS, E-COM etc. Channel both Intra and Inter-bank i.e. on-us (Bank Customer/rupay card holder transacting at same Bank channels) and off-us (Bank Customer/Rupay card holder transacting at other Bank Channels) within 90 days prior to date of accident including accident date will be included as eligible transactions under the Rupay Insurance Program 2019-2020.
10. Overdraft facility upto Rs. 10,000/- is available in only one account per household, preferably lady of the household.
https://pmjdy.gov.in/scheme