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Q1. The ‘Frontier 50 Initiative’ announced by the Niti Aayog is related to which of the foollowing?
- The ‘Frontier 50 Initiative’ was announced by the Niti Aayog to implement frontier technology solutions in 50 Aspirational Districts in line with Viksit Bharat 2047 initiative.
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Q2. Consider the following statements regarding Foreign Currency Non-Resident (Bank) [FCNR(B)] fixed deposit accounts:
i) FCNR(B) accounts are term deposit accounts maintained in designated foreign currencies rather than in Indian Rupees.
ii) Deposits in FCNR(B) accounts are insulated from exchange rate fluctuations between the foreign currency of deposit and the Indian Rupee during the tenure of the deposit.
iii) Both the principal amount and the interest earned are repayable only in Indian Rupees upon maturity.
iv) Authorized banks in India accept FCNR(B) deposits primarily from Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), subject to applicable regulations.
Which of the statements given above are correct?
- Statement 1 is correct. An FCNR(B) account is a foreign currency-denominated term deposit maintained with authorized banks in India. The deposit is held in specified convertible foreign currencies rather than Indian Rupees. Statement 2 is correct. Since both the deposit and repayment are denominated in the same foreign currency, the depositor is generally protected from exchange rate fluctuations between the deposit currency and the Indian Rupee during the deposit period. The currency risk, to the extent applicable, is managed by the bank. Statement 3 is incorrect. On maturity, both principal and interest are ordinarily repaid in the designated foreign currency. The depositor may choose conversion into Indian Rupees where permitted, but repayment is not restricted to Rupees. Statement 4 is correct. FCNR(B) accounts are intended for eligible NRIs and are also available to OCIs under the applicable FEMA and RBI framework.
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Q3. Consider the following statements regarding polymer currency:
i) Polymer currency completely eliminates the possibility of counterfeiting because of its specialized manufacturing process.
ii) Transparent windows and advanced security features can be incorporated into polymer banknotes to improve authentication.
Which of the statements given above are correct?
- Statement 1 is incorrect. Polymer notes reduce the risk of counterfeiting, but they do not eliminate it completely. Security features only make counterfeiting more difficult and expensive. Statement 2 is correct. Polymer banknotes can incorporate sophisticated security features such as: Transparent windows Microprinting Optically variable devices Complex holographic elements Raised printing
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Q4. Below are given few statements regarding the National Cooperative Exports Limited (NCEL):
i) One of its objectives is to facilitate export-related services such as market linkage, quality support and logistics for cooperative institutions.
ii) NCEL functions as the statutory regulator responsible for licensing all agricultural exports from India.
Which of the statements given above are correct?
- Statement 1 is incorrect. NCEL is not a statutory export regulator. It functions primarily as a promotion and facilitation organization. Export licensing and trade regulation continue to be governed under the broader legal and policy framework administered by the appropriate government authorities. Statement 2 is correct. A key objective is to enable cooperative farmers to receive better returns through: Export diversification Value addition Better price realization Direct market access Reduced dependence on intermediaries
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Q5. Which of the following statements regarding AstroSat is incorrect?
- Statement 1 is correct. AstroSat is India's first dedicated multi-wavelength astronomical observatory developed by ISRO. Unlike satellites built for communication, navigation or Earth observation, AstroSat was designed specifically for space-based astronomical research. Statement 2 is correct. AstroSat carries multiple scientific payloads covering different parts of the electromagnetic spectrum. Its instruments observe: Ultraviolet radiation, Visible light (through the UV imaging system), Soft X-rays, Hard X-rays This multi-wavelength capability enables astronomers to correlate observations from different energy bands, providing a more complete picture of astronomical events. Statement 3 is correct. AstroSat investigates numerous high-energy astrophysical phenomena, including: Black holes, Neutron stars, Pulsars, White dwarfs, Supernova remnants, Active Galactic Nuclei (AGN), X-ray binaries, Star-forming regions. Statement 4 is incorrect. AstroSat does not operate in a geostationary orbit. Instead, it was placed in a Low Earth Orbit (LEO) at an altitude of about 650 km with a relatively low orbital inclination. This orbit minimizes background radiation and improves the quality of scientific observations, particularly in the X-ray region.