10 PM Current Affairs Quiz : February 5, 2018

An outward direct investment (ODI) is a business strategy in which a domestic firm expands its operations to a foreign country. This can take the form of a green field investment, a merger/acquisition or expansion of an existing foreign facility. Employing outward direct investment is a natural progression for firms if their domestic markets become saturated and better business opportunities are available abroad. Outward Direct Investment is also called direct investment abroad.

Statement 1 is correct. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP). MSP is price fixed by Government of India to protect the producer – farmers – against excessive fall in price during bumper production years.

Statement 2 is incorrect. 26 commodities are currently covered under the scheme for minimum support prices. They are as follows.

Cereals (7) – paddy, wheat, barley, jowar, bajra, maize and ragi

Pulses (5) – gram, arhar/tur, moong, urad and lentil

Oilseeds (8) – groundnut, rapeseed/mustard, toria, soyabean, sunflower seed, sesamum, safflower seed and nigerseed

Copra

De-husked coconut

Raw cotton

Raw jute

Sugarcane (Fair and remunerative price)

Virginia flu cured (VFC) tobacco

Both the statements are incorrect.

LTCG or long-term capital gains refer to the gains made on any class of asset held for a particular period of time. In case of equity shares, it refers to the gains made on stocks held for more than one year.

Tax levied on stock market trades is currently known as securities transaction tax (STT) which was introduced in 2004.

Statement 1 is incorrect. The Olive Ridley turtles live in warm waters of the Pacific, Atlantic and Indian oceans. They are the smallest and most abundant of all sea turtles found in the world.

Statement 2 is correct. These turtles, along with their cousin the Kemps Ridley turtle, are best known for their unique mass nesting called Arribada, where thousands of females come together on the same beach to lay eggs. Gahirmatha beach (Odisha coast) is known as world’s largest mass-nesting of Olive Ridley turtles.

Statement 1 is incorrect. The CARE mission is not associated with repairing of ISRO’s navigational satellites and replacing of the malfunctioning atomic clock.

Statement 2 is correct. CARE is the acronym for Crew module Atmospheric Re-entry Experiment. Crew Module (CM) is identified as the payload in GSLV MK-III-X/CARE Mission.

The mission was used as a platform for testing the re-entry technologies envisaged for Crew Module including validating the performance of parachute based deceleration system.

The external configuration of the Crew Module was flight tested in GSLV MK-III in 2014.

he UNOSSC was established with an objective to promote, coordinate and support South-South and triangular cooperation across world within the UN system. It has its genesis in 1974 when UN General Assembly (UNGA) had endorsed establishment of special unit to promote technical cooperation among developing countries within United Nations Development Programme (UNDP). In 2012, the special unit was given name UNOSSC by the UNGA through a resolution. UNOSSC receives policy directives and guidance from the UNGA.

Hukuru Miskiy or Old Friday Mosque is located in Maldives. The Malé Friday Mosque or the Malé Hukuru Miskiy also known as the Old Friday Mosque is one of the oldest and most ornate mosques in the city of Malé, Kaafu Atoll, Maldives. Coral boulders of the genus Porites are the basic materials used for construction of this and other mosques in the country because of its suitability. The mosque was added to the tentative UNESCO World Heritage cultural list in 2008 as unique examples of sea-culture architecture.