10 PM Current Affairs Quiz: April 16, 2020

Ambedkar was one of the first generation of professionally trained economists in India. He was also the first Indian political leader with formal training in economics, with research papers published in noted academic journals. He came back from the US in 1916, taught economics at a Mumbai college for three years, and then went to London to do his doctorate at the London School of Economics under Edwin Canaan. The London doctorate was awarded in 1923 and the Columbia one in 1927. He also became a lawyer during his stay in London. Ambedkar looked into the problem of the rupee at a time when there was a clash between the colonial administration and Indian business interests on its value. The latter argued that the government was maintaining an overvalued exchange rate to help British exporters who sold their goods in India.

The Sovereign Gold Bond Scheme was introduced in 2015.They are government securities denominated in grams of gold. It aims to reduce the demand for physical gold and shift a part of the domestic savings used for the purchase of gold into financial savings. The bonds will be denominated in multiple grams of gold. The minimum permissible investment will be 1 gram of gold and maximum shall be 4 KG for the individual, HUF and 20 Kg for trusts. The time period of the Bond will be for a period of 8 years with exit option after 5th year.

The International Monetary Fund (IMF) has released the World Economic Outlook Report. The report is published twice a year. It aims to provide analysis and forecasts of economic developments of member countries and highlights risks and uncertainty.

European Space Agency has announced its plan to launch JUpiter ICy moons Explorer (JUICE) mission by 2022. It aims to spend at least three years making detailed observations of the giant gaseous planet Jupiter and three of its largest moons, Ganymede, Callisto and Europa.

Odisha’s Ganjam district administration has banned the Meru Jatra festival and congregations due to Covid-19. Meru Jatra marks the end of the 21-day-long festival of penance named ‘Danda Nata’. It is a 21-day long seasonal folk dance festival that is celebrated in the month of ‘Chaitra’. During the festival, people who participate in the festival (Danduas) undergo self-inflicted pain to pay their obeisance to the lord Kali.It is also a form of worshipping the lord Shiva and his consort Parvati.

Statement 1 is correct. The India Meteorological Department’s (IMD) has redefined the long period average from 89cm to 88 cm, the long period average between 1961-2010.

Statement 2 is incorrect. IMD rainfall classification is:

Normal or Near Normal: When per cent departure is between 96-104% of LPA.

Below normal: When departure is between 90-96% of LPA

Above normal: When actual rainfall is 104-110% of LPA

Deficient: When departure of actual rainfall is less than 90% of LPA

Excess: When departure of actual rainfall is more than 110% of LPA

Both statements are correct. The Indian Meteorological Department (IMD) has given the following criteria for Heat Waves :

Heat Wave need not be considered till maximum temperature of a station reaches at least 40*C for Plains and at least 30*C for Hilly regions.

When normal maximum temperature of a station is less than or equal to 40*C Heat Wave departure from normal is 5*C to 6*C Severe Heat Wave Departure from normal is 7*C or more.

When normal maximum temperature of a station is more than 40*C Heat Wave Departure from normal is 4*C to 5*C Severe Heat Wave Departure from normal is 6*C or more.

When actual maximum temperature remains 45*C or more irrespective of normal maximum temperature, heat waves should be declared.

Statement 1 is correct. 14.67% of the funds for the World Health organisation are provided by the USA, more than any other contributor.

Statement 2 is correct. India’s share of funding is 0.48% while China provides 0.21% of funds to WHO.

Statement 1 is incorrect. Ghaghra is the largest tributary of Ganga by volume. Yamuna is the longest tributary and second largest by volume.

Statement 2 is correct. Yamuna river originates from the Yamunotri Glacier on the southwestern slopes of Banderpooch peaks of the Lower Himalaya in Uttarakhand.

RT-PCR test and Rapid antibody tests are diagnostic tests for COVID-19. HCQ tablets are being prescribed by ICMR as preventive medicines for doctors and nurses involved in treatment. Plasma transfer from cured patients to severely ill patients is still being tested as a cure for COVID-19.

Statement 1 is incorrect. It is a central sector scheme, completely funded by the central government. Centrally Sponsored Schemes are schemes that are implemented by state governments of India but are largely funded by the Central Government with a defined State Government share.

Statement 2 is incorrect. The entitlement per member is 5 crore per year.

Statement 1 is incorrect. Voyager 1 and 2 are NASA’s missions initially deployed to study the planetary system, later both of them crossed the planetary boundary boundary to enter interstellar space.

Statement 2 is correct. In 2012 Voyager 1 became the first man-made object to enter interstellar space followed by Voyager 2 in 2019.

Microfinance is a banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. Therefore a rural industry borrowing through NABARD is a case of microfinance.

Statement 1 is correct. Dakin’s solution is a dilute solution of sodium hypochlorite (0.4% to 0.5%) and other stabilizing ingredients, traditionally used as an antiseptic.

Statement 2 is incorrect. It is primarily used for medicinal purposes. Dakin’s solution is used to prevent and treat skin and tissue infections that could result from cuts, scrapes and pressure sores. It is also used before and after surgery to prevent surgical wound infections.

Statement 1 is incorrect. Under the SEZ Act, units can be set for: manufacture of goods; or services to be rendered; or both manufacturing of goods and for rendering of services; or as a free trade and warehousing sector.

Statement 2 is incorrect. Special Economic zones are notified under SEZ Act, 2005.