10 PM Current Affairs Quiz : January 28 2021

DNA is made up of molecules called nucleotides. Each nucleotide contains a phosphate group, a sugar group and a nitrogen base. The four types of nitrogen bases are adenine (A), thymine (T), guanine (G) and cytosine (C). The order of these bases is what determines DNA’s instructions, or genetic code.
A mutation is an alteration in the nucleotide sequence of the genome of an organism. A silent mutation is a change in the sequence of nucleotide bases which constitutes DNA, without a subsequent change in the amino acid or the function of the overall protein.

Statement 1 is correct. A side scan sonar uses high-frequency sound pulses that are bounced off the sea floor to create an image of the sea floor morphology shape) and show differences in seabed texture and substrate types.
Side scan may be used to conduct surveys for maritime archeology; in conjunction with seafloor samples, it is able to provide an understanding of the differences in material and texture type of the seabed surface.
Statement 2 is incorrect. Typical frequencies used in side scan sonar range from 100 to 500 kHz with higher frequencies producing a higher resolution image. The higher frequencies yield better resolution but less range.
# Indian scientists will undertake a scientific expedition using side scan Sonar and Silo seismic survey to date the chain of corals and sediments forming the Ram Setu.

Option 1 is correct. An accommodative stance means a central bank will cut rates to inject money into the financial system whenever needed.
Accommodative monetary policy is triggered to encourage more spending from consumers and businesses by making money less expensive to borrow through the lowering of short-term interest rates.
It has its use when economic growth/activity is slowing down, as money is easily accessible through banks, the money supply in the economy increases. This leads to increased spending. When businesses can easily borrow money, they have more funds to expand operations and hire more workers, which means that the unemployment rate will decrease.
Option 2 is incorrect. Sale of G-Secs will in effect reduces the money supply while accommodative stance aims to inject money in the economy.

Statement 1 is correct. Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India.
It is the primary sources of external capital as well as increased revenues for a country. It often results in the opening of factories in the country of investment, in which some local equipment – be it materials or labour force, is utilised.
Statement 2 is incorrect. There is a difference between FDI and FPI (Foreign Portfolio Investments), wherein the investor purchases equity of foreign companies. FPI means only equity infusion, and does not imply the establishment of a lasting interest.
FDI can be Greenfield, wherein an organisation creates a subsidiary concern in another country and builds its business operations there from the ground up.
Alternatively, FDI can be brownfield – wherein an organisation expands by way of cross-border mergers, acquisitions and joint ventures – by either leasing or purchasing existing facilities for its production.
# During April to November, 2020, total FDI inflow of US$ 58.37 billion has been received. It is the highest ever for first 8 months of a financial year and 22% higher as compared to first 8 months of 2019-20 (US$ 47.67 billion).

Davos summit organised by the World Economic Forum (WEF) is an annual event held at Davos in Switzerland, which sees the participation of world leaders, politicians, economists and business leaders.
Prime Minister Narendra Modi and Chinese President Xi Jinping will be among the top world leaders to attend the World Economic Forum (WEF)’s Davos Agenda Summit. The six-day event will be held online from January 24 to 29.
The ‘Davos Agenda’ 2021 will also mark the launch of WEF’s “Great Reset Initiative”.

Statement 1 is correct. The IEA was established in 1974, in the wake of the 1973-1974 oil crisis, to help its members respond to major oil supply disruptions, a role it continues to fulfill today. IEA’s mandate has expanded over time to include tracking and analyzing global key energy trends, promoting sound energy policy, and fostering multinational energy technology cooperation.
Statement 2 is correct. The IEA operates within the broader framework of the Organization for Economic Co-Operation and Development (OECD). A candidate country to the IEA must be a member country of the OECD.
The IEA is made up of 30 member countries. In addition, thanks to its successful open door policy to emerging countries, the IEA family also includes eight association countries (including India).
# The Framework for Strategic Partnership between the International Energy Agency (IEA) members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability.

Statement 1 is incorrect. The Future Investment Initiative is hosted by the Public Investment Fund of Saudi Arabia.
Statement 2 is correct. It is an annual investment forum held in Riyadh, Saudi Arabia, to discuss trends in the world economy and investment environment.
Union Minister for Health and Family Welfare recently addressed the 4th edition of the Future Investment Initiative Forum. The purpose of the forum being hosted in Riyadh was to find solutions on how business and government can expand access to healthcare, train healthcare workers, remove regulatory barriers and encourage investment in advanced health technologies.

Statement 1 is correct. The Textiles Committee was established in the year 1963 by an Act of Parliament and is a statutory body under the Ministry of Textiles.
Statement 2 is incorrect. The Textiles Committee’s main objective is to ensure the quality of textiles and textile machinery both for internal consumption and export purposes. The Textiles Committee is the only body providing for all the quality related needs of the entire Textiles Value Chain (TVC) in an integrated format on a pan-India basis through its network.
# Textiles Committee, Ministry of Textiles have signed a Memorandum of Understanding (MoU) with Nissenken Quality Evaluation Centre, Japan to boost export of Textile and Apparel to Japanese market.

The International Union of Geological Sciences (IUGS), the international organization that names and defines epochs, recognises Holocene as the current Epoch.
Therefore, officially, the current epoch is called the Holocene, which began 11,700 years ago after the last major ice age. However, the Anthropocene Epoch is an unofficial unit of geologic time, used to describe the most recent period in Earth’s history when human activity started to have a significant impact on the planet’s climate and ecosystems.

An ice sheet is a mass of glacial land ice extending more than 50,000 square kilometers (20,000 square miles). The two ice sheets on Earth today cover most of Greenland and Antarctica.

Ice sheets contain enormous quantities of frozen water. If the Greenland Ice Sheet melted, scientists estimate that sea level would rise about 6 meters (20 feet). If the Antarctic Ice Sheet melted, sea level would rise by about 60 meters (200 feet).

— Since ice sheets are covered in white snow and ice that reflect heat back into space, they balance out other parts of the world that absorb heat. Less ice means less reflected heat, meaning more intense heatwaves worldwide. But it also means more extreme winters: as the polar jet stream—a high-pressure wind that circles the Arctic region—is destabilized by warmer air, it can dip south, bringing bitter cold with it.

— Arctic ice and permafrost—ground that is permanently frozen—store large amounts of methane, a greenhouse gas that contributes to climate change. When it thaws, that methane is released, increasing the rate of warming.

# A recent research by UK scientists have found that the rate of ice loss from the Earth has increased drastically within the past three decades, from 0.8 trillion tonnes per year in the 1990s to 1.3 trillion tonnes per year by 2017.