PRELIMS CURRENT AFFAIRS – 13/08/24

01. Consider the following 

1. Teaching, Learning and Resources
2. Research and Professional Practice 
3. Graduation Outcomes 
4. Outreach and Inclusivity 
5. Perception 

How many of the above are covered under Ranking parameters of the National Institutional Ranking Framework (NIRF)?

1. 5 only
2. 2 and 3 only
3. 1,3 and 4 only
4. All Five

Answer:  (d) All Five

In News: IIT-Madras retains top spot in NIRF ranking for sixth consecutive year

Explanation:

• The Indian Institute of Technology, Madras is the best educational institution in the country for the sixth time since 2019, shows the overall ranking based on parameters identified and defined in the National Institutional Ranking Framework (NIRF).

About National Institutional Ranking Framework 

• The National Institutional Ranking Framework (NIRF) is the methodology approved and adopted by the Ministry of Education in 2015. 
• It outlines the procedure of ranking higher education institutions across India. 

The ranking framework judges these educational institutions under five broad generic groups of parameters of –

• Teaching, Learning and Resources (TLR) (30% weightage),
• Research and Professional Practice (RP) (30% weightage),
• Graduation Outcomes (GO) (20% weightage),
• Outreach and Inclusivity (OI) (10% weightage) and
• Perception (PR) (10% weightage). Hence option (d) is correct

Source:https://www.thehindu.com/education/colleges/nirf-ranking-2024-list/article68515901.ece

02.Consider the following statements regarding short selling 

1. It is the sale of a stock which a person does not own at the time of trade.
2. Its aim is to profit from a decline in the asset’s price by later buying the shares at a lower cost to cover the short position.

Which of the statements given above is/are correct?

1. 1 only 
2. 2 only 
3. Both 1 and 2 
4. Neither 1 nor 2

Answer:  (c) Both 1 and 2

In News: On the allegations against the SEBI chief

Explanation:

• New York-based Hindenburg Research has released a new set of documents to substantiate its accusation that the ongoing investigation into insider trading and other stock market violations by the Adani Group by India’s financial regulator — the Securities and Exchange Board of India (SEBI) — is compromised.
• At the centre of the allegations are the Buchs’ alleged “hidden stakes” in certain offshore funds in Bermuda and Mauritius, two tax havens, and their professional engagements during and before Ms. Buch’s tenure at SEBI. 
• Hindenburg asserts concern on two fronts, a conflict of interest and an ensuing collusion.

About short selling 

• Short-selling is the sale of a stock which a person does not own at the time of trade but has merely borrowed. Hence statement 1 is correct. 
• The aim is to profit from a decline in the asset’s price by later buying the shares at a lower cost to cover the short position. Hence statement 2 is correct. 
• All classes of investors, viz., retail and institutional investors, shall be permitted to short sell.
• It is an investment or trading strategy that speculates on the decline in a stock or other security’s price.
• SEBI may review the list of stocks that are eligible for short selling transactions from time to time.
• The institutional investors shall disclose upfront at the time of placement of order whether the transaction is a short sale.
• However, retail investors would be permitted to make a similar disclosure by the end of the trading hours on the transaction day.

Naked Short Selling

• In naked short selling, stocks are not borrowed.
• Therefore, in times of panic, more people could dump their holdings, without any obligation to fulfil their settlements, thereby pushing the prices of the stock further down.
• It is illegal in India.

Source: https://www.thehindu.com/business/Economy/what-is-the-latest-revelation-by-hindenburg-on-the-sebi-chief-all-about-explained/article68516915.ece

03.Consider the following statements regarding Clean Plant Programme (CPP)

1. It aims to enhance the quality and productivity of fruit crops across the nation.
2. It will be implemented by the National Horticulture Board in collaboration with the Indian Council of Agricultural Research (ICAR). 

Which of the statements given above is/are correct?

1. 1 only 
2. 2 only 
3. Both 1 and 2 
4. Neither 1 nor 2

Answer:  (c) Both 1 and 2

In News: How Centre’s Clean Plant Programme plans to boost production of fruits

Explanation:

• First announced in Union Finance Minister Nirmala Sitharaman’s interim Budget speech in February 2023, the CPP is also targeted at enhancing the quality of fruit crops across the nation.
• One half of this will be sourced from the budget of the Mission for Integrated Development of Horticulture (MIDH), while the other half will be in the form of a loan from the Asian Development Bank (ADB).

About Clean Plant Programme (CPP)

• The Union Cabinet approved the Clean Plant Programme (CPP), aimed at increasing the yield and productivity of horticulture crops in India. Hence statement 1 is correct. 
• The programme will be implemented by the National Horticulture Board in association with the Indian Council of Agricultural Research (ICAR). Hence statement 2 is correct. 
• The CPP is expected to benefit farmers, nurseries, consumers, and boost exports.
• It will provide farmers access to virus-free, high-quality planting material, leading to increased crop yields and improved income opportunities.
• The CPP is expected to further strengthen India’s position as a leading global exporter of fruits.
• The programme has three main components geared towards helping farmers obtain virus-free, high-quality planting material (plants used for vegetative propagation) in order to increase crop yields and improve income opportunities. 

These are:

• Development of nine Clean Plant Centers (CPCs) which will provide disease diagnostics and therapeutics, create mother plants to be sent to nurseries, and quarantine all domestic and imported planting materials intended for commercial propagation and distribution;
• Enhancement of infrastructure, including the development of large-scale nurseries to facilitate the efficient multiplication of clean planting material — the mother plants obtained from the CPCs will be multiplied in nurseries and distributed to farmers;
• Creation of regulatory and certification process to ensure thorough accountability and traceability in the production and sale of planting material.

Source: https://indianexpress.com/article/explained/how-centres-clean-plant-programme-plans-to-boost-production-of-fruits-9508509/

04.NEOWISE Telescope belongs to which one of the following international space organizations?

1. ISRO
2. NASA
3. JAXA
4. ESA

Answer: (b) NASA

In News: NASA bids farewell to decade-old space guardian that protected Earth from asteroids, comets

Explanation:

After more than a decade of dedicated service, NASA’s NEOWISE spacecraft has officially retired. 10 years of tirelessly scanning the skies, keeping an eye out for anything that might pose a danger to Earth. Hence option (b) is correct.

About  NEOWISE mission

• The NEOWISE mission uses a space telescope to hunt for asteroids and comets, including those that could pose a threat to Earth. 
• During its four-year survey — from December 2013 through 2017 — NEOWISE will rapidly identify and characterize near-Earth objects, gathering data on their size and other key measurements.
• Launched in December 2009 as the Wide-Field Infrared Survey Explorer, or WISE, the space telescope was originally designed to survey the sky in infrared, detecting asteroids, stars and some of the faintest galaxies in space.
• NEOWISE project as an instrument to study near-Earth objects, or NEOs, as well as more distant asteroids and comets.
• NEOWISE detected more than 158,000 minor planets, 34,000 of which had never been discovered previously.
• NEOWISE data have been used to set limits on the numbers, orbits, sizes, and probable compositions of asteroids throughout our solar system, and enabled the discovery of the first known Earth Trojan asteroid.

Source:https://www.businesstoday.in/technology/news/story/nasa-bids-farewell-to-decade-old-space-guardian-that-protected-earth-from-asteroids-comets-440959-2024-08-10

05. Consider the following statements:

Statement -I: 

National Space day is observed on 23rd August 

Statement -II: 

“National Space Day” to celebrate the,safe and soft landing of the Vikram Lander and deployed the Pragyaan rover on the lunar surface near the South Pole. 

Which one of the following is correct in respect of the above statements?

1. Both Statement – I and Statement – II are correct and Statement – II is the correct explanation for Statement – I
2. Both Statement – I and Statement – II are correct and Statement – II is not the correct explanation for Statement – I
3. Statement – I is correct but Statement – II is incorrect
4. Statement – I is incorrect but Statement – II is correct

Answer:  (a) Both Statement – I and Statement – II are correct and Statement – II is the correct explanation for Statement – I

In News: Government of India has declared August 23rd as “National Space Day” to celebrate the remarkable success of the Chandrayaan-3 Mission 

Explanation:

• The Government of India has declared August 23rd as “National Space Day” to celebrate the remarkable success of the Chandrayaan-3 Mission, which accomplished safe and soft landing of the Vikram Lander and deployed the Pragyaan rover on the lunar surface near the South Pole.Hence statement 1 and statement 2 is correct. 
• This historic achievement places India among an elite group of space faring nations, making India the fourth country to land on the Moon and the first to do so near the south pole of the Moon. 
• This achievement is being celebrated across the country during July and August 2024, with the goal of engaging and inspiring the younger generation in the field of Space Science and Technology. 
• Chandrayaan-3 is India’s third lunar mission and second attempt at achieving a soft landing on the moon’s surface.
• On July 14, 2023, Chandrayaan-3  took off from the Satish Dhawan Space Centre in Sriharikota. The spacecraft seamlessly entered lunar orbit on August 5, 2023. The historic moment unfolded when the lander made a successful touchdown near the Lunar south pole on Aug 23, 2023.

Source:

Press Release:Press Information Bureau (pib.gov.in) 

06. Consider the following statements with respect to Model Solar Villages

1. It is implemented under the PM-Surya Ghar: Muft Bijli Yojana 
2. It promotes solar energy adoption and enables village communities to become self-reliant in meeting their energy needs.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Answer:  (c)Both 1 and 2

In News: Government of India issues Operational Guidelines for Implementation of ‘Model Solar Village’ under PM-Surya Ghar: Muft Bijli Yojana 

Explanation:

• The Scheme Guidelines for implementation of ‘Model Solar Village’ under PM-Surya Ghar: Muft Bijli Yojana under the  Ministry of New and Renewable Energy. Hence statement 1 is correct. 
• Under the scheme component ‘Model Solar Village’, emphasis has been made on creating one Model Solar Village per district across India, with the goal of promoting solar energy adoption and enabling village communities to become self-reliant in meeting their energy needs.
• A total financial outlay of ₹800 crore has been allocated for this component, providing ₹1 crore per selected Model Solar Village.Hence statement 2 is correct. 
• In order to be considered a village under the competition mode, 

• A village must be a revenue village with a population size above 5,000 (or 2,000 for special category states). 
• The selection process involves a competitive mode where villages are assessed on their overall distributed renewable energy (RE) capacity installed 6 months after the declaration of the potential candidate by the District Level Committee (DLC).
• The implementation of this scheme will be done by State/UT Renewable Energy Development Agency under the supervision of District Level Committee (DLC), ensuring that selected villages transition effectively to solar-powered communities, serving as models for other villages across the country.

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2044454

07. Which among the following Batteries does not use Lithium as its core component? 

1. Heart Pacemakers 
2. Electric Vehicle 
3. laptops 
4. Motorcycle 

Answer:  (d) Motorcycle 

In News: J&K’s Lithium Potential: Dr. Jitendra Singh Seeks Acceleration in Exploration and Industry Collaboration 

Explanation:

• Lithium is a soft, silvery-white non-ferrous metal and is one of the key components in rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles.
• It is also used in some non-rechargeable batteries for things like heart pacemakers, toys and clocks.Hence option(d) is correct.
• The Geological Survey of India (GSI) had for the first time in India’s history established Lithium inferred resources of 5.9 million tonnes in Jammu and Kashmir’s Reasi district.
• Months after India’s first lithium reserves, the GSI has found another reserve of the crucial mineral in Degana in Rajasthan’s Nagaur district.
• These reserves are believed to be much bigger in quantity (than found in J&K) and can meet 80% of the total country’s demand.
• Why Access to or Control over Lithium is Important?

• India’s electric-vehicle (EV) market was valued at $383.5 million in 2021, and is expected to expand to $152.21 billion in 2030.
• India imported 450 million units of lithium batteries valued at $929.26 million (₹6,600 crore) in 2019-2020.
• The ongoing global transition to low-carbon economies, the rapid expansion of AI and 5G networks will greatly reshape global and regional geopolitics in favour of those possessing and producing lithium.

• Lithium can be extracted in different ways, depending on the type of the deposit — generally either through solar evaporation of large brine pools, or from hard-rock extraction of the ore.
• Chile > Australia > Argentina are top countries with Li reserves.
• Lithium Triangle: Chile, Argentina, Bolivia.

Source:

https://pib.gov.in/PressReleseDetail.aspx?PRID=2044691

08. Consider the following statements with respect to Xerogal dressing

1. It is a porous composite dressing incorporating Silica Nanoparticles and calcium 
2. Xerogel hemostatic dressing is supplemented with substances that bind to a receptor inside a cell like silica nanoparticles (SiNPs) and calcium.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Answer:  (C) Both 1 and 2

In News: Highly porous Xerogel dressing can save lives by clotting blood faster 

Explanation:

• Researchers have developed a porous composite xerogel dressing incorporating Silica Nanoparticles and calcium that can help blood clot rapidly and provide relief for uncontrolled hemorrhage. Hence statement 1 is correct. 
• The composite showed significant improvement in rate of blood clotting in comparison to commercial dressing.  
• Uncontrolled hemorrhage is one of the leading causes of traumatic death resulting from accidents or injuries and during military or surgical operations. 
• More than 40 % of trauma deaths are due to severe loss of blood. Gauze, a commonly used first aid material or the natural defenses of the human body operating through reduction in blood flow to the injury site, platelet plug formation by fibrin activation and activation of blood clotting pathways are inadequate to halt severe hemorrhage. 
• Therefore, improved hemostatic materials are urgently required to reduce blood losses. 
• Agharkar Research Institute (ARI) Pune, an autonomous institute of Department of Science and Technology (DST) has developed a highly porous spongy xerogel hemostatic dressing supplemented with substances that bind to a receptor inside a cell (agonists) like silica nanoparticles (SiNPs) and calcium.Hence statement 2 is correct. 

Source:

https://pib.gov.in/PressReleasePage.aspx?PRID=2044556

09. Consider the following statements with respect to Security Transactions Tax

1. It is levied and collected by the state government of India. 
2. The liability of applying the STT is on the client, when the client undertakes transactions in the stock market.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Answer:  (d) Neither 1 nor 2 

In News:  STT, PIT spikes lift net direct tax receipts 22.5% 

Explanation:

• It is a direct tax charged on the purchase and sale of securities listed on the recognized stock exchanges in India.
• It is levied and collected by the central government of India. statement 1 is incorrect. 
• STT is governed by Securities Transaction Tax Act (STT Act), and STT Act has specifically listed various taxable securities transactions, i.e., transactions on which STT is leviable.
• Taxable securities include equities, derivatives, or equity-oriented mutual funds investment units (excluding commodities and currency).
• The rate of taxation is different for different types of securities.
• STT is not applicable to off-market transactions or to commodity or currency transactions. 
• The liability of applying the STT is on the broker when the client undertakes transactions in the stock market. The collected amount is then paid to the government.Hence statement 2 is incorrect. 
• The charges and rate of STT are reflected on the contract notes which a broker provides to its clients for every execution of trades. 

Source:

STT, PIT spikes lift net direct tax receipts 22.5% – The Hindu 

10.Consider the following statements in respect of the Laureus World Sports Award which was instituted in the year 2000: (2021)

1. American golfer Tiger Woods was the first winner of this award. 
2. The award was received mostly by ‘Formula One’ players so far. 
3. Roger Federer received this award maximum number of times compared to others. 

Which of the above statements are correct? 

(a) 1 and 2 only 

(b) 2 and 3 only 

(c) 1 and 3 only 

(d) 1, 2 and 3 

Answer: (c)1 and 3 only