10 PM Current Affairs Quiz: August 12, 2020

Sputnik V is potential COVID-19 vaccine developed by the Gamaleya Institute in Moscow, uses two strains of adenovirus as its base.

After tweaking the adenovirus to remove its disease causing ability, genes that code for the coronavirus’s “spike” protein — a structure that plugs into cells to trigger infection — have been added to it, which the immune system should recognize and use to target the pathogen should the body ever become exposed.

The vaccines developed by CanSino Biologics in China and Oxford University and AstraZeneca in Britain also use adenoviruses as their base.

Russia named the newly approved vaccine “Sputnik V,” in reference to the world’s first artificial satellite launched by Russia in 1957.

Statement 1 is incorrect. The PCA was established by the Convention for the Pacific Settlement of International Disputes, concluded at The Hague in 1899 during the first Hague Peace Conference.

The Conference had been convened at the initiative of Czar Nicolas II of Russia “with the object of seeking the most objective means of ensuring to all peoples the benefits of a real and lasting peace, and above all, of limiting the progressive development of existing armaments.”

It provides a forum for the resolution of international disputes through arbitration and other peaceful means. The cases span a range of legal issues involving territorial and maritime boundaries, sovereignty, human rights, international investment, and international and regional trade.

Statement 2 is correct. India is a contracting party to the Convention for the Pacific Settlement of International Disputes, 1899.

Important cases of India in PCA:

–Bangladesh v. India (Bay of Bengal Maritime Boundary) settled in 2014.

–Italian Marine Case: PCA recognized (July, 2020) the functional immunity of the two Italian marines, noting that they were engaged in a mission on behalf of the Italian Government. However, Italy was required to find an agreement with India in order to compensate for the two deaths and for the physical and moral damages suffered by the crew members and the vessel.

Statement 1 is correct. Biodiesel, also called Green Diesel is a liquid fuel produced from renewable sources, such as new and used vegetable oils and animal fats and is a cleaner-burning replacement for petroleum-based diesel fuel.

Biodiesel is nontoxic and biodegradable and is produced by combining alcohol with vegetable oil, animal fat, or recycled cooking grease.

Statement 2 is incorrect. Like petroleum-derived diesel, biodiesel is used to fuel compression-ignition (diesel) engines. Biodiesel can be blended with petroleum diesel.

Both statements are correct.

The Assam Accord was a Memorandum of Settlement (MoS) signed between representatives of the Government of India and the leaders of the Assam Movement in New Delhi on 15 August 1985.

A six-year agitation demanding identification and deportation of illegal immigrants was launched by the All Assam Students’ Union (AASU) in 1979 concluded with the signing of the Assam Accord.

Among other things the clause 6 of the accord states “constitutional, legislative and administrative safeguards, as may be appropriate, shall be provided to protect, preserve and promote the cultural, social, linguistic identity and heritage of the Assamese people.”

Home Ministry in 2019 set up a committee under High Court judge Biplab Kumar Sarma to make recommendations on implementation of Clause 6.

Agriculture Minister recently launched Indian Council of Agricultural Research (ICAR)’s data recovery center called ‘Krishi Megh’.

It aims to protect the data of the government’s premier research body Indian Council of Agricultural Research. It has been set up at National Academy of Agricultural Research Management (NAARM) in Hyderabad. It has been built to mitigate the risk, enhance the quality, availability and accessibility of e-governance, research, extension and education in the field of agriculture in India.

NAARM, Hyderabad has been chosen as it lies in a different seismic zone with regard to the Data Centre at ICAR-IASRI in New Delhi.

Both statements are correct.

Atal Innovation Mission (AIM), NITI Aayog, in collaboration with Dell Technologies recently launched the second edition of Student Entrepreneurship Programme (SEP 2.0) for young innovators of Atal Tinkering Labs (ATLs).

SEP 2.0 will allow student innovators to work closely with Dell volunteers. They will receive mentor support; prototyping and testing support; end-user feedback; intellectual property registration and patenting of ideas, processes, and products; manufacturing support; as well as the launch support of the product in the market.

Under SEP 1.0 (2019), the top 6 teams of ATL Marathon—a nationwide contest where students identify community challenges and create grassroots innovations and solutions within their ATLs—got a chance to transform their innovative prototypes into fully functioning products, which are now available in the market.

Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture sector by way of –

-providing financial support to farmers suffering crop loss/damage arising out of unforeseen events

-stabilizing the income of farmers to ensure their continuance in farming

-encouraging farmers to adopt innovative and modern agricultural practices

-ensuring flow of credit to the agriculture sector.

Statement 1 is correct. Risks leading to crop loss are to be covered under the scheme:

-Yield Losses (standing crops, on notified area basis)

-Prevented Sowing (on notified area basis) due to adverse weather conditions

–Post Harvest Losses (individual farm basis): available upto a maximum period of 14 days from harvesting for those crops which are kept in “cut & spread” condition to dry in the field after harvesting, against specific perils of cyclone / cyclonic rains, unseasonal rains throughout the country.

-Localized calamities (individual farm basis)

Statement 2 is incorrect. Scheme provides for a uniform premium of 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers is 5%.

Statement 1 is correct. Section 6 of the Hindu Succession Act confers the status of ‘coparcener’ to a daughter. Coparcener is a person who has a birthright to parental property.

Statement 2 is correct. This Act applies (a) to any person, who is a Hindu by religion in any of its forms or developments, including a Virashaiva, a Lingayat or a follower of the Brahmo, Prarthana or Arya Samaj, (b) to any person who is a Buddhist, Jaina or Sikh by religion, and (c) to any other person who is not a Muslim, Christian, Parsi or Jew by religion.

The Supreme Court recently held that the Hindu Succession Act 1956 amended in 2005, which gives daughters equal rights to ancestral property, will have a retrospective effect.

Statement 1 is correct. In May 2016, the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework.

The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years.

Accordingly, the Central Government has notified 4 per cent Consumer Price Index (CPI) inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per cent and the lower tolerance limit of 2 per cent.

Statement 2 is incorrect. Under the amended RBI Act:

The Monetary Policy Committee consists of the following Members:

–the Governor of the Bank—Chairperson, ex officio;

–Deputy Governor of the Bank, in charge of Monetary Policy—Member, ex officio;

–one officer of the Bank to be nominated by the Central Board—Member, ex officio; and

–three persons to be appointed by the Central Government—Members.

The Monetary Policy Committee (MPC) is required to meet at least four times in a year.

-The quorum for the meeting of the MPC is four members.

–Each member of the MPC has one vote, and in the event of an equality of votes, the Governor has a second or casting vote.

Statement 1 is correct. Article 25(2) provides for State’s power with regard to Right to Freedom of Religion. It empowers State to make any law—

-regulating or restricting any economic, financial, political or other secular activity which may be associated with religious practice;

– providing for social welfare and reform or the throwing open of Hindu religious institutions of a public character to all classes and sections of Hindus.

The reference to Hindus is construed as including a reference to persons professing the Sikh, Jaina or Buddhist religion.

Statement 2 is correct. Article 26 of the Constitution provides that ‘subject to public order, morality and health, every religious denomination or any section thereof shall have the right—

-to establish and maintain institutions for religious and charitable purposes;

-to manage its own affairs in matters of religion;

-to own and acquire movable and immovable property; and

-to administer such property in accordance with law