Daily MCQs 4 October

Q 1. Which of the following statement is not correct about the Global Methane Pledge?

(a) The Global Methane Pledge was launched at COP 26 to catalyze action to reduce methane emissions.

(b) It was led by the United States and the European Union.

(c) India is a part of the Global Methane Pledge.

(d) By joining the Pledge, countries commit to work together in order to collectively reduce methane emissions by at least 30% below 2020 levels by 2030.

Answer: (c)

Global Methane, Climate and Clean Air (GMCCA) Forum 2022 is being held in Washington, DC, USA to discuss opportunities to protect the climate and improve air quality with a special focus on methane by adhering to the Global Methane Pledge.

Option (c) is not correct: About the Global Methane Pledge

• • The Global Methane Pledge was launched at COP (Conference of Parties) 26 in November 2021 to catalyze action to reduce methane emissions.
  • It was led by the United States and the European Union.
  • It has 111 country participants who together are responsible for 45% of global human-caused methane emissions.

• India, which is not a part of the Global Methane Pledge, is among the top five methane emitters globally. Most emissions can be traced back to agriculture.

• By joining the Pledge, countries commit to work together in order to collectively reduce methane emissions by at least 30% below 2020 levels by 2030.

Q 2. With reference to the Narmada River, which of the following statement is correct:

1. The Narmada River flows to the west, while most other large peninsular rivers flow to the east. 

2. It flows between the Vindhyas and the Satpuras.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer (c)

The Madhya Pradesh government has canceled all contracts with Maheshwar Hydroelectric Project almost three decades after it agreed to purchase power from it. The Maheshwar dam is one of the large dams of the Narmada Valley Development Project, which envisages the construction of 30 large and 135 smaller dams in the Narmada valley.

Statements 1 and 2 are correct: Narmada is the largest west-flowing river in the peninsular region flowing through a rift valley between the Vindhya Range on the north and the Satpura Range on the south. Narmada is flowing through the area where the land is not sloping towards the west from central India, but it is flowing west because of the rift valleys only. It rises from the Maikala range near Amarkantak in Madhya Pradesh. It drains a large area in Madhya Pradesh besides some areas in the states of Maharashtra and Gujarat. The river near Jabalpur (Madhya Pradesh) forms the DhuanDhar Falls. There are several islands in the estuary of Narmada of which Aliabet is the largest. 

Q 3. Which of the following is/are instrument/ instruments of Monetary Policy?

1. Repo rate

2. Bank rate

3. Open market operations

4. Public debt

Select the correct answer using the codes given below.

(a) 1 only

(b) 2, 3, and 4 only

(c) 1, 2, and 3 only

(d) 1 and 4 only

Answer: (c)

Recently, The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) increased the policy repo rate by 50 basis points (bps) to 5.9% making loans expensive.

Option (c) is correct: Monetary policy refers to the policy of the central bank with regard to the use of monetary instruments under its control to achieve the goals specified in the Act. The primary objective of the RBI’s monetary policy is to maintain price stability while keeping in mind the objective of growth. Price stability is a necessary precondition to sustainable growth. The main instruments of the monetary policy are Cash Reserve Ratio, Statutory Liquidity Ratio, Bank Rate, Repo Rate, Reverse Repo Rate, and Open Market Operations.

Public debt is obligations of governments, particularly those evidenced by securities, to pay certain sums to the holders at some future time. Public debt is distinguished from private debt, which consists of the obligations of individuals, business firms, and nongovernmental organizations.

Q 4. Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?

1. It decides the benchmark interest rates.

2. RBI Governor work as its ex officio chairperson of the Monetary Policy Committee (MPC).

3. Members of the Monetary Policy Committee are eligible for reappointment.

Select the correct answer using the code given below:

(a) 1 only

(b) 1 and 2 only

(c) 3 only

(d) 2 and 3 only

Answer: (b)

Statement 1 is correct: Monetary Policy Committee (MPC) decides the RBI’s benchmark interest rates. These interest rates include MSF, Repo Rate, Reverse Repo Rate, and Liquidity Adjustment Facility. 

Statement 2 is correct: Under Section 45ZB of the amended (in 2016) RBI Act, 1934, the central government is empowered to constitute a six-member Monetary Policy Committee (MPC). Further, Section 45ZB lays down that “the Monetary Policy Committee shall determine the Policy Rate required to achieve the inflation target”. Section 45ZB says the MPC shall consist of 6 members:

• RBI Governor as its ex officio chairperson,

1. Deputy Governor in charge of monetary policy,
2. An officer of the Bank to be nominated by the Central Board,
3. Three persons are to be appointed by the central government.

Statement 3 is not correct:  This category of appointments must be from “persons of ability, integrity, and standing, having knowledge and experience in the field of economics or banking or finance or monetary policy”.

• • Members of the Monetary Policy Committee will be appointed for a period of four years.

• Members of the Monetary Policy Committee shall not be eligible for reappointment.

Q 5. With reference to Foreigners’ Tribunals (FT), consider the following statements:

1. A Foreigners’ Tribunal is a quasi-judicial body, and a member is a designation similar to a judge. 

2. Judges have been appointed as members of FT under the Foreigners Tribunal Act, 1941 and Foreigners Tribunal ORDER 1964. 

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2 

(d) Neither 1 nor 2

Answer: (c)

The Assam government has decided not to extend the term of members who were appointed for 200 additional Foreigners’ Tribunals (FT) that were set up primarily to handle cases related to the National Register of Citizens (NRC).

Statement 1 is correct: A Foreigners’ Tribunal is a quasi-judicial body and a member is a designation similar to a judge. Assam has set up FTs, specifically to handle the cases of 19.06 lakh people left out of the updated NRC. Every individual, whose name does not figure in the final National Register of Citizens (NRC), can represent his/her case in front of the appellate authority i.e. Foreigners Tribunals (FT).

Statement 2 is correct: Judges/Advocates have been appointed as the members of FT under the Foreigners Tribunal Act, 1941 and Foreigners Tribunal ORDER 1964. as per the guidelines issued by the government from time to time.

• A member can be a retired judicial officer of the Assam Judicial Service, a retired civil servant not below the rank of secretary and additional secretary with judicial experience, or a practicing advocate not below the age of 35 years and with at least seven years of practice.
• A member is also required to have a fair knowledge of the official languages of Assam (Assamese, Bengali, Bodo, and English) as well as be conversant with the historical background of the foreigners’ issue.