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21 Nov 2022- Current Affairs MCQs for Practice

 

Question-1

What is the worth of the Srinagar Smart City project, which, over the next six months will improve the city’s urban mobility and water transport, conserve heritage sites, develop pedestrian-friendly pathways and markets?

a)   1000 crore

b)   ₹700 crore

c)   ₹500 crore

d)   ₹980 crore

Ans- d

Explanation-

 

Under the ₹980-crore Srinagar Smart City Project, the “Venice of the East”, with its waterbodies, Mughal-era gardens and British-era boulevards and bungalows, will achieve many firsts over the next six months. 

Question-2

The Bhima Koregaon case, in which several activists have been imprisoned, relates to the day of the annual celebration of a battle where the Peshwas fought the British Army and forcibly removed them. The battle took place in which year?

a)   1875

b)   1890

c)   1902

d)   1818

Answer: d

 

Explanation-

 

The case relates to an event marking the anniversary of January 1, 1818, when a battle was fought between the British Army and the Peshwas and they were forcibly removed.

 

Question 3

The 60th anniversary of two iconic battles in the India-China war was observed this week. While one of them was the Battle of Walong, in the eastern sector which was the other battle fought in eastern Ladakh?

a)   The Battle of Rezang La

b)   The Battle of Markha

c)   The Battle of Khardung La

d)   The Battle of Turtuk

Answer : a

 

Explanation-

The Battle of Walong, in the eastern sector, on November 16 and the Battle of Rezang La in eastern Ladakh on November 18.

 

Question 4

There are over 15 lakh migrant workers in which city of Gujarat engaged in diamond cutting and polishing, textile mills, embroidery, handloom, and textile dyeing?

a)   Baroda

b)   Surat

c)   Gandhinagar

d)   Ahmedabad

Answer : b

 

Explanation-

 

There are over 15 lakh migrant workers in Surat engaged in diamond cutting and polishing, textile mills, embroidery, handloom, and textile dyeing, while some make their living by selling vegetables and fruits on pushcarts.

 

Question 5

About how many scientific and technical terms in all modern Indian languages will soon be searchable via Google, enabling teachers, writers and translators as well as students to access such terminology?

a)   Three million

b)   Ten million

c)   Fifty lakh

d)   Five lakh

Answer : a

Explanation-

 

Close to three million scientific and technical terms in all modern Indian languages will soon be searchable via Google, enabling teachers, writers and translators as well as students to access such terminology when they need it in the course of their work.

 

Question 6

China’s Belt and Road project is its initiative to fund the building of international infrastructure and other projects to increase connectivity. While one is scheduled for next year, how many Belt and Road Forums has China hosted so far?

a)   Five

b)   Three

c)   One

d)   Two

Answer : d

 

Explanation-

 

Beijing would next year host its third Belt and Road Forum after a three-year hiatus.

Question 7

Consider the following statements with respect to the Loss and Damages Fund:

1.    It is an initiative of the Global Climate Forum (GCF).

2.   It aims to provide financial assistance to poor nations stricken by climate disaster.

3.   The Santiago Network on vulnerable developing countries is associated with this fund.

Which of the above statement(s) is/are correct?

a)   1 and 2 only

b)   3 only

c)   1 only

d)   2 and 3 only

Answer : d

 

Loss and Damages Fund

  • Delegates at the U.N.’s climate conference in Sharm el-Sheikh, Egypt (COP27) thrashed out an agreement to establish a ‘Loss and Damages’ fund.
  • The fund aims to compensate the most vulnerable countries for damages from climate-linked disasters.
  • However crucial questions such as who will manage this fund, are left to be decided in the next COP.
  • The COP27 is part of the United Nations Climate Change Conference (UNFCC).
  • COP27 resulted in countries delivering a package of decisions that reaffirmed their commitment to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels.
  • The package also strengthened action by countries to cut greenhouse gas emissions and adapt to the inevitable impacts of climate change, as well as boosting the support of finance, technology and capacity building needed by developing countries.

Santiago Network

  • The parties also agreed on the institutional arrangements to operationalize the Santiago Network for Loss and Damage.
  • The network aims to catalyse technical assistance to developing countries that are particularly vulnerable to the adverse effects of climate change.

Question 8

Consider the following statements with respect to the Global Partnership on Artificial Intelligence (GPAI):

1.    It is an international initiative to support responsible and human-centric development and use of Artificial Intelligence (AI).

2.   India joined the forum in 2020 and is a founding member.

3.   India will be the next president of the forum in the year 2024.

Which of the above statement(s) is/are correct?

a)   1 and 2 only

b)   2 and 3 only

c)   1 and 3 only

d)   1, 2 and 3

Answer : a

 

Global Partnership on Artificial Intelligence (GPAI)

  • It is a multi-stakeholder initiative which aims to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
  • GPAI brings together engaged minds and expertise from science, industry, civil society, governments, international organisations and academia to foster international cooperation.
  • Launched in June 2020 with 15 members, GPAI is the fruition of an idea developed within the G7.
  • Today, GPAI’s 25 members are Australia, Belgium, Brazil, Canada, Czech Republic, Denmark, France, Germany, India, Ireland, Israel, Italy, Japan, Mexico, the Netherlands, New Zealand, Poland, the Republic of Korea, Singapore, Slovenia, Spain, Sweden, the United Kingdom, the United States and the European Union.
  • India had in 2020 joined the group as a founding member.
  • India will take over the chair of the Global Partnership on Artificial Intelligence (GPAI).
  • In the election to the Council Chair, India had received more than a two-third majority of first-preference votes.
  • Canada and the United States of America ranked in the two next best places in the tally - so they were elected to the two additional government seats on the Steering Committee.
  • For the 2022-2023 Steering Committee, the 5 government seats will therefore be held by Japan (as Lead Council Chair and Co-Chair of the Steering Committee), France (Outgoing Council Chair), India (Incoming Council Chair), Canada and the United States.

Question 9

Which of the following statements is associated with the term Friendshoring, recently seen in news?

a)   It is the practice of relocation of business processes to a lower-cost location inside the national borders.

b)   It is the practice of transferring a business operation that was moved overseas back to the country from which it was originally relocated.

c)   It is the practice of relocating supply chains to countries where the risk of disruption from political chaos is low.

d)   It is the practice of transferring a business operation to a nearby country, especially in preference to a more distant one.

Answer : c

 

Friendshoring

  • It is a term similar to the terms such as reshoring, onshoring, offshoring, and nearshoring.
  • Friendshoring – It is the practice of relocating supply chains to countries where the risk of disruption from political chaos is low.
  • Reshoring – It is the practice of transferring a business operation that was moved overseas back to the country from which it was originally relocated.
  • Onshoring – It is the practice of the relocation of business processes to a lower-cost location inside the national borders.
  • Offshoring – It is the practice of outsourcing operations overseas, usually by companies from industrialized countries to less-developed countries, with the intention of reducing the cost of doing business.
  • Nearshoring – It is the practice of transferring a business operation to a nearby country, especially in preference to a more distant one.

Question 10

Consider the following statements with respect to the term Stampede Liquidation:

1.    It is the act of multiple market participants wanting to withdraw their deposits at once, in panic leading to a severe correction in the price.

2.   It generally occurs prior to an economic meltdown, with low investments in public expenditure.

Which of the above statement(s) is/are correct?

a)   1 only

b)   2 only

c)   Both 1 and 2

d)   Neither 1 nor 2

Answer : a

 

Stampede Liquidation

  • Liquidation generally refers to the process of selling off a company's inventory, typically at a big discount, to generate cash.
  • In most cases, a liquidation sale is a precursor to a business closing.
  • Once all the assets have been sold, the business is shut down.
  • Stampede liquidation is the act of multiple market participants wanting to withdraw their deposits at once, or willing to sell a specific asset in panic leading to a severe correction in the price.
  • Stampede liquidation, at a large scale, generally occurs post-economic booms, with highly leveraged investments first in line.

 

 

Source- The Hindu Newspaper / PIB/ The Indian Express/DTE

 

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