This is the Day-32 questions of the CAF Revision plan for prelims. The questions are based on the syllabus as provided in the schedule. Aspirants are requested to go through the detailed CAF strategy to understand the need of the UPSC prelims and to prepare well for the same. Attempt the questions honestly. The link to key answers and explanations of this test is at the end of the questions. The maximum time to attempt the 18 questions is 25 minutes.
Q.1) Which one of the following links all the ATMs in India?
(a) Indian banks’ Association
(b) National Securities Depository Limited
(c) National Payments Corporation of India
(d) Reserve Bank of India
Q.2) With reference to digital payments, consider the following statements:
- BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
- While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q.3) What is the purpose of setting up of Small Finance Banks (SFBs) in India?
- To supply credit to small business units
- To supply credit to small and marginal farmers
- To encourage young entrepreneurs to set up business particularly in rural areas.
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1,2 and 3
Q.4) Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?
(a) Mobile wallets will not be necessary for online payments.
(b) Digital currency will totally replace the physical currency in about two decades.
(c) FDI inflows will drastically increase.
(d) Direct transfer of subsidies to poor people will become very effective.
Q.5) The Global Infrastructure Facility is a/an
(a) ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
(b) World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public- Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
(c) Collaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
(d) UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.
Q.6) With reference to ‘Bitcoins’ sometimes seen in the news, which of the following statements is/are correct?
- Bitcoins are tracked by the Central Banks of the countries.
- Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address.
- Online payments can be sent without either side knowing the identity of the other.
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 3 only
(d) 1, 2 and 3
Q.7) Consider the following statements:
- New Development Bank has been set up by APEC.
- The headquarters of New Development Bank is in Shanghai.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q.8) With reference to ‘National Investment and Infrastructure Fund’, which of the following statements is/are correct?
- It is an organ of NITI Aayog.
- It has a corpus of Rs. 4, 00,000 crore at present.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q.9) In the Sixth Five-Year Plan, priority was given to
(a) Strengthen the infrastructure for agriculture and industry both.
(b) Removal of poverty and attainment of economic self-reliance
(c) Socialist pattern of society
(d) Petroleum production
Q.10) Recently, India’s first ‘National Investment and Manufacturing Zone’ was proposed to be set up in
(a) Andhra Pradesh
(b) Gujarat
(c) Maharashtra
(d) Uttar Pradesh
Q.11) What is/are the purpose/ purposes of ‘District Mineral Foundations’ in India?
- Promoting mineral exploration activities in mineral-rich districts
- Protecting the interests of the persons affected by mining operations
- Authorizing State Governments to issue licences for mineral exploration
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Q.12) In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?
(a) Coal production
(b) Electricity generation
(c) Fertilizer production
(d) Petroleum Refinery production
Q.13) The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and ‘Peace Clause’ appear in the news frequently in the context of the affairs of the
(a) Food and Agriculture Organization
(b) United Nations Framework Conference on Climate Change
(c) World Trade Organization
(d) United Nations Environment Programme
Q.14) India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to
(a) ILO
(b) IMF
(c) UNCTAD
(d) WTO
Q.15) With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:
- It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
- Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Q.16) Consider the following statements about NBFCs.
- NBFCs cannot accept demand deposits.
- CRR does not apply on any NBFCs.
- NBFC do not form part of the payment and settlement system.
- Deposit insurance facility is not available to depositors of NBFCs.
Choose the correct answers from the codes given below
(a) 1 and 3
(b) 2 and 4
(c) 1 and 2
(d) all the above
Q.17) ‘Capital Conservation Buffer’ is associated with
(a) Financial Institutions/Banks
(b) Multinational Companies
(c) Budget/Annual Financial statement
(d) all the above
Q.18) Consider the following statements about National Financial Reporting Authority (NFRA).
- It is established as an independent regulator to oversee the auditing profession and accounting standards.
- It consists of a Chairperson, three full time members and nine part-time members.
- Chairperson and full-time members would be nominated by Ministry of Finance.
Which of the above statements is/are correct?
(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) 1, 2 and 3
Q.19) The first Sustainable Blue Economy conference held in
(a) Nairobi
(b) New Delhi
(c) New York
(d) Natal
Q.20) A new App PRAAPTI (Payment Ratification and Analysis in Power Procurement for Bringing Transparency in Invoicing of generators) has been launched to bring more transparency in the payment system by
(a) DISCOMs
(b) Ministry of New and Renewable energy
(c) PMO
(d) Ministry of Coal