Q1. Consider the following statements regarding the India's external debt, according to latest records:

  1. India's total external debt increased by 2.8 per cent, mainly on account of a rise in commercial borrowings, according to a report released by the Finance Ministry.
  2. Loans from multilateral and bilateral sources under external assistance, was the largest constituent of the sovereign debt.

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

Option C is correct.

Both statements are correct. India's total external debt increased by 2.8 per cent, mainly on account of a rise in commercial borrowings, according to a report released by the Finance Ministry. Loans from multilateral and bilateral sources under external assistance, was the largest constituent of the sovereign debt.      

https://economictimes.indiatimes.com/news/economy/finance/indias-external-debt-up-nearly-3-per-cent-to-usd-559-billion-at-march-end/articleshow/78205611.cms?from=mdr

Q2. Which one of the following is not a financial asset of the commercial bank in India?

(a) Cash at the Central Bank        

(b) Deposits       

(c) Certificates of Deposit            

(d) Investments

Option B is correct. Financial Assets of a Commercial Bank includes Liquidity and Profitability, Cash-in-Hand, Cash at the Central Bank, Money at Call and Short Notice, Bills Discounted, Government Securities with One Year or Less to Maturity, Certificates of Deposit, Investments.

https://www.economicsdiscussion.net/money-supply/commercial-banks/financial-assets-of-a-commercial-bank/26097

Q3. With reference to the currency crisis, consider the following statements:

  1. A currency crisis involves the sudden and steep decline in the value of a nation's currency, which causes negative ripple effects throughout the economy.
  2. It can be precipitated only by the government’s economic activities.

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

Option A is correct.

Statement 1 is correct. A currency crisis involves the sudden and steep decline in the value of a nation's currency, which causes negative ripple effects throughout the economy.

Statement 2 is incorrect. It may be precipitated by governments, investors, central banks or any combination of actors. 

https://www.investopedia.com/articles/economics/08/currency-crises.asp

Q4. Consider the following statements:

  1. RBI is India’s oldest regulator and was set up under the Reserve Bank of India Act of 1934.
  2. Historically, it has always been an autonomous entity even though the governor and the deputies are appointed by the government.

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

Option C is correct.

Both statements are correct. RBI is India’s oldest regulator and was set up under the Reserve Bank of India Act of 1934. Historically, it has always been an autonomous entity even though the governor and the deputies are appointed by the government.

https://www.livemint.com/Opinion/zeVBlQKBAbF9BBx6dQNpWN/Regulating-the-regulators.html

Q5. With reference to the Acute encephalitis syndrome (AES), consider the following statements:

  1. It is not a serious public health problem in India.
  2. It is characterized as acute-onset of fever and a change in mental status and/or new-onset of seizures in a person of any age at any time of the year.

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

Option B is correct.

Statement 1 is incorrect. Acute encephalitis syndrome (AES) is a serious public health problem in India.

Statement 2 is correct. It is characterized as acute-onset of fever and a change in mental status (mental confusion, disorientation, delirium, or coma) and/or new-onset of seizures in a person of any age at any time of the year. The disease most commonly affects children and young adults and can lead to considerable morbidity and mortality.

https://www.nhp.gov.in/disease/communicable-disease/acute-encephalitis-syndrome

Q6. Consider the following statements:                                    

  1. The Central Information Commission was constituted under the provisions of fundamental right to equality, by the parliament.
  2. The jurisdiction of the Commission extends over the selected Central Public Authorities only.

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

Option D is correct.

Both statements are incorrect. The Central Information Commission was constituted under the Right to Information Act, 2005. The jurisdiction of the Commission extends over all Central Public Authorities.

https://cic.gov.in/

Q7. With reference to the cyber security, consider the following statements:

  1. A national cybersecurity strategy is a high-level top-down approach to cybersecurity that establishes a range of national objectives and priorities that should be achieved in a specific timeframe.
  2. Currently all countries in the world have a National Cybersecurity Strategy as a key policy feature.

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

Option A is correct.

Statement 1 is correct. A national cybersecurity strategy is a high-level top-down approach to cybersecurity that establishes a range of national objectives and priorities that should be achieved in a specific timeframe.

Statement 2 is incorrect. Currently all countries in the European Union have a National Cybersecurity Strategy as a key policy feature

https://www.enisa.europa.eu/topics/national-cyber-security-strategies

Q8. Vertically Launched-Short Range Surface to Air Missile (VL-SRSAM), recently tested by DRDO, is an advanced air defense system that provides 

(a) The facility to hit only the short range targets              

 (b) Advantage of targeting only the intermediate-range ballistic missiles

 (c) A solution only against surface-to-surface strategic missiles. 

 (d) A single integrated solution for multiple aerial threats from different ranges.

Option D is correct. Vertically Launched-Short Range Surface to Air Missile (VL-SRSAM), recently tested by DRDO, is an advanced air defense system that provides a single integrated solution for multiple aerial threats from different ranges.

https://www.newindianexpress.com/states/odisha/2021/feb/22/maiden-test-of-vertically-launched-srsam-from-itr-off-odisha-coast-likely-today-2267271.html

Ques  Ans:

1-(c)

2-(b)

3-(a)

4-(c)

5-(b)

6-(d)

7-(a)

8-(d)