HomeDaily QuizUPSC Daily Quiz | 10 August 2024 UPSC Daily Quiz | 10 August 2024August, Daily Quiz | By admin | August 10, 2024 /5 Daily Quiz - 10 August Tarun IAS offers a variety of courses and resources for UPSC aspirants, including a section for daily current affairs and quizzes. The institute was established with the goal of providing high-quality education and preparing students for the IAS exams. They aim to offer education that is up to date, challenging, and accessible regardless of the student's location or the time of dayTarun IAS emphasizes the importance of Current Affairs in both the prelims and mains of the UPSC exams, offering extensive materials and notes on the subject. Her For the most current and specific daily MCQs related to current affairs or any other subject, please click on the link below. 1 / 5 Q1. Perseids, Ursid, Geminid, etc., recently seen in the news are: Types of newly discovered exoplanets Newly identified constellations in the night sky Types of solar flares Meteor showers occurring at specific times of the year Explanation:Relevance: The Perseid meteor shower this year began around July and will last until late August, but their peak activity is going on now โ between August 11 and 13.ย Meteor showers are witnessed when Earth passes through the trail of debris left behind by a comet or an asteroid.When a meteor reaches the Earth, it is called a meteorite and a series of meteorites, when encountered at once, is termed as a meteor shower.ย According to NASA, over 30 meteor showers occur annually and are observable from the Earth.As meteors fall towards the Earth, the resistance makes the space rocks extremely hot and, as meteorites pass through the atmosphere, they leave behind streaks of glowing gas that are visible to the observers and not the rock itself.Major annual meteor showersThe Perseids meteor shower peaks every year in mid-August.ย The Perseids occur as the Earth runs into pieces of cosmic debris left behind by the comet Swift-Tuttle.ย The cloud of debris is lit up a little less than 100 km above the Earthโs surface.ย This usually occurs within the mesosphere, typically at a height of about 80km.The Geminids meteor shower, believed to be the strongest of the year, peaks every year in early-December.The Geminids meteor showers are unique because their origin does not lie in a comet, but what is believed to be an asteroid or an extinct comet.ย The Geminids emerge from 3200 Phaethon, which meteor scientists consider to be an asteroid.According to NASA, the Geminids rate is better in the year when the showerโs peak overlaps with a nearly new moon, which means there will be darker skies and no moonlight to wash out the fainter meteors.Soon after the Geminids meteor shower, viewers in the northern hemisphere can expect to see the Ursids meteor shower, which peaks every year in mid-December. However, the rate of Ursids is much less than Geminids.Therefore, option (d) is the correct answer.Subject: Current Affairs | S&TLevel of Difficulty: Easy | FactualReferences:https://www.thehindu.com/sci-tech/science/perseids-meteor-shower-peaking-from-today/article68512052.ece 2 / 5 Q2. With reference to the โNational Financial Reporting Authority (NFRA),โ consider the following statements:1) It is a statutory body established under the Companies Act 2013.2) It is headed by the Union Finance Minister.3) Its mandate is to enforce auditing standards and ensure the quality of audits.Which of the statements given above is/are correct? 1 only 1 and 2 only 3 only 2 and 3 only Explanation:For enforcement of auditing standards and ensuring the quality of audits, the Ministry of Corporate Affairs has established the non-statutory body - National Financial Reporting Authority - as an independent regulator. (Hence Statement 1 is not correct but Statement 3 is correct)The National Financial Reporting Authority (NFRA), Ministry of Corporate Affairs, has one post of Chairperson, three posts of full-time Members and one post of Secretary for NFRA. (Hence Statement 2 is not correct)The NFRA was one of the key changes brought in by the Companies Act, 2013.ย In making any recommendations, NFRA attempts to keep in mind the implications of such recommendations on the Ease of Doing Business.The National Financial Reporting Authority (NFRA) issues the Financial Reporting Quality Review Reports (FRQRRs).Therefore, option (c) is the correct answer.Subject: Current Affairs | EconomyLevel of Difficulty: Easy | Factual 3 / 5 Q3. While taking the decision on putting a bank under prompt corrective actionย (PCA)ย plan, the RBI assesses the financial institution based on which of the following measures?1) Capital Adequacy Ratio2) Return on Assets3) Net Non-Performing Assets Ratioย 4) Tier I Leverage Ratioย Select the correct answer using the code given below. 1 and 3 only 2 and 4 only 1, 3 and 4 only 1, 2, 3 and 4 Explanation:Prompt Corrective Action or PCA is a framework under which banks with weak financial metrics are put under watch by the RBI.ย The objective of the PCA Framework is to enable supervisory intervention at appropriate time and require the Supervised Entity to initiate and implement remedial measures in a timely manner, so as to restore its financial health.ย Basis to Initiate PCAFrom 1st January 2022 onwards, while taking the decision on putting a bank under prompt corrective actionย (PCA)ย plan, the RBI assesses the financial institution on three counts, namely:Capital Adequacy Ratioย (CRAR) (for Capital)Net Non-Performing Assets (NPAs) ratio (for asset quality), andย Tier I Leverage Ratio (for leverage). (Hence Options 1, 3 and 4 are correct)Breach of any one condition/parameters is seen as sufficient to trigger PCA.Earlier, Return on Assets (ROA) was also used as an indicator for initiating PCAF.New notification by RBI has removed return on assets as an indicator to qualify for PCA from 1st January 2022 onwards. (Hence Option 2 is not correct)Therefore, option (c) is the correct answer.Subject: Current Affairs | EconomyLevel of Difficulty: Moderate | Factual 4 / 5 Q4. With reference to the โSolar Energy Corporation of India Limited (SECI),โ consider the following statements:1) It is a CPSU under the administrative control of the Ministry of Power.2) It is the nodal agency to implement both the National Solar Mission and Solar Parks Schemes.3) The mandate of the company is restricted solely to the solar energy sector.Which of the statements given above is/are correct? 1 only 2 only 1 and 3 only 2 and 3 only Explanation:The Solarย Energyย Corporation ofย Indiaย ltdย (SECI) is aย CPSU underย the administrative control ofย theย Ministry of New andย Renewableย Energyย (MNRE). (Hence Statement 1 is not correct)It has been set up toย facilitate theย implementation of Jawaharlal Nehru National Solar Mission and achievementย of targetsย set therein.ย The company is one of the nodal agenciesย for implementationย of a number ofย schemes ofย MNRE such as National Solar Mission, Solar Parks Scheme, Canal Top/ Canal Bank Scheme etc. (Hence Statement 2 is correct)It is the onlyย CPSU dedicated to theย solar energyย sector.ย The mandateย of the company has been broadened to cover the entireย renewable energy domain (solar, on-shore/off-shore wind, geo-thermal, tidal, bio-gas, biomass, small hydro and other renewable energy sources in India and abroad). (Hence Statement 3 is not correct)The company also has aย Category 1 power trading license and is active in this domain through trading ofย solar powerย from projectsย set up under theย schemes being implemented by it.Therefore, option (b) is the correct answer.Subject: Current Affairs | EnvironmentLevel of Difficulty: Moderate | Factual 5 / 5 Q5. Ishan Uday Scholarship Scheme is a region-specific scheme implemented in: Left Wing Extremism Affected Areas Border Area Development Region North Eastern Region Aspiration Districts Explanation:The University Grants Commission implements the โIshan Udayโ Special Scholarship Scheme for the North Eastern Region to promote Higher Education in the North Eastern Region by providing financial assistance to students of the region.ย Therefore, option (c) is the correct answer.Subject: Current Affairs | SchemeLevel of Difficulty: Easy | Factual Your score is 0% Restart quiz