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Question 71

UKPSC Combined Upper Subordinate Service 2021• General Studies

Which of the following are called gilt edged securities ?

  1. AOption (a)

    Shares of Public Limited Companies

  2. BOption (b)

    Government Securities

  3. COption (c)

    Shares of Private Limited Companies

  4. DOption (d)

    Stocks of Mutual Funds

View answer & explanation

Correct answer

Answer: (b)B.

Government Securities

Why this answer is correct

The correct answer is Government Securities.

Key Points

  • Gilt-edged  Securities are high-grade bonds issued by certain National Governments.
  • “Government security” means a security created and issued by the Government for the purpose of raising a public loan or for any other purpose.
  • Gilt-edged securities are favoured by investors who seek predictable returns, with little risk of default.
  • These investments carry similar traits as United States Treasury securities.

Important Points 

  • "Security" refers to a fungible, negotiable financial instrument that holds some type of monetary value.
  • It represents an ownership position in a publicly-traded corporation via stock.
  • The four types of security are debt, equity, derivative, and hybrid securities.

Question 72

UKPSC Combined Upper Subordinate Service 2021• General Studies

Multilateral Investment Guarantee Agency (MIGA) is related to :

  1. AOption (a)

    World Bank Group

  2. BOption (b)

    International Monetary Fund (IMF)

  3. COption (c)

    International Finance Corporation (IFC)

  4. DOption (d)

    International Development Association (IDA)

View answer & explanation

Correct answer

Answer: (a)A.

World Bank Group

Why this answer is correct

The correct answer is World Bank Group,

Key Points

  • The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group.
  • MIGA  mandate is to promote cross-border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders.
  • MIGA  guarantees protect investments against noncommercial risks and can help investors obtain access to funding sources with improved financial terms and conditions

Additional Information ​World Bank is composed of 5 institutions:​​

International Bank for Reconstruction and Development (IBRD)Lends to governments of middle-income and creditworthy Low-income countries
International Development Association (IDA)Provides interest-free loans called credits  and grants to governments of the Poorest Countries
International Finance Corporation (IFC)The largest global development institution focused exclusively on the Private Sector
Multilateral Investment Guarantee Agency (MIGA)Promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfils this mandate by offering political risk insurance (guarantees) to investors and lenders.
International Centre for Settlement of Investment Disputes (ICSID)Provides international facilities for conciliation and arbitration of investment disputes.

World Bank (1945)

  • Headquarter-  Washington
  • The President of the World Bank Group is David Malpass.
  • There are 189 members of the world bank.
  • World Banks important publications are the Ease of Doing Business Report, World Development Report and Human Capital Index.

Question 73

UKPSC Combined Upper Subordinate Service 2021• General Studies

Which of the following taxes are abolished by the Goods and Services Tax ?

  1. AOption (a)

    Property Tax

  2. BOption (b)

    Corporation Tax

  3. COption (c)

    Value Added Tax

  4. DOption (d)

    Income Tax

View answer & explanation

Correct answer

Answer: (c)C.

Value Added Tax

Why this answer is correct

The correct answer is Value Added Tax.

Key Points

Goods and Service Tax(GST) 

  • ​GST is an indirect tax used in India on the supply of goods and services.
  • It is a destination-based tax.
  • GST replaced the Value Added Tax.
  • It is a single tax on the supply of goods and services, right from the manufacturer to the end consumer.
  • Goods and Service Tax(GST) was implemented in India on 1 July 2017 by Finance Minister Arun Jaitley.
  • Goods and services are divided into five different tax slabs for collection of tax- 0%, 5%, 12%, 18%, 28%.
  • It subsumed Indirect taxes that were levied on the sale of goods or provision of services by either Central or State governments.
  • GST Council is the governing body of GST having 33 members.
  • The Council is currently headed by Union Finance Minister Nirmala Sitharaman assisted by the Finance Ministers of all the states of India.

Question 74

UKPSC Combined Upper Subordinate Service 2021• General Studies

Which one of the following organisations is not located in Uttarakhand ?

  1. AOption (a)

    C.B.R.I.

  2. BOption (b)

    O.N.G.C.

  3. COption (c)

    H.A.L.

  4. DOption (d)

    B.H.E.L.

View answer & explanation

Correct answer

Answer: (c)C.

H.A.L.

Why this answer is correct

The correct answer is H.A.L.

Key Points

Hindustan Aeronautics Limited (HAL):

  • Established on 23 December 1940, HAL is one of the oldest and largest aerospace and defence manufacturers in the world today.
  • An Indian state-owned aerospace and defence company, Headquartered in Bengaluru, India

Additional Information

The Central Building Research Institute (CBRI):

  • At Roorkee, Uttarakhand, India, is a constituent establishment of the Council of Scientific and Industrial Research, India.
  • Vested with the responsibility of generating, cultivating and promoting building science and technology in the service of the country.

 ONGC :

  • In the year 1956, has established its Head Quarters in Dehradun.

BHEL:

  • Ranipur is a town in the Haridwar district in the state of Uttarakhand, India. It is the township developed by Public sector Bharat Heavy Electricals Limited (BHEL).

Question 75

UKPSC Combined Upper Subordinate Service 2021• General Studies

In which year VAT was introduced in Uttarakhand ?

  1. AOption (a)

    2007

  2. BOption (b)

    2010

  3. COption (c)

    2012

  4. DOption (d)

    2005

View answer & explanation

Correct answer

Answer: (d)D.

2005

Why this answer is correct

The correct answer is 2005.

Key Points

  • The Uttarakhand Value added Tax, 2005 forms the legal framework of regulations governing regulating VAT in Uttarakhand.
  • It came into force from 1st October 2005.
  • VAT was introduced value added tax (VAT) into the Indian taxation system from 1 April 2005. The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules.
  • A few states (Gujarat, Tamil Nadu, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Uttarakhand and Uttar Pradesh) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
  • As of 2 June 2014, VAT has been implemented in all the states and union territories of India except Pondicherry, Andaman and Nicobar Islands and Lakshadweep Island.

Question 76

UKPSC Combined Upper Subordinate Service 2021• General Studies

In how many hill districts of Uttarakhand, Tea Development Programme was carried out during the year 2020-2021 ?

  1. AOption (a)

    10

  2. BOption (b)

    9

  3. COption (c)

    8

  4. DOption (d)

    7

View answer & explanation

Correct answer

Answer: (b)B.

9

Why this answer is correct

The correct answer is 9.

Key Points

  • In 09 hill districts (Bageshwar, Champawat, Nainital, Almora, Pithoragarh, Chamoli, Rudraprayag, Pauri, Tehri) of Uttarakhand, the tea development program is being conducted under a self-run scheme, special component scheme, MNREGA.
  • In 28 development blocks of 09 hill districts (Bageshwar, Champawat, Nainital, Almora, Pithoragarh, Chamoli, Rudraprayag, Pauri, Tehri) of Uttarakhand, the tea development program is being conducted under a self-run scheme, special component scheme, MNREGA.

Additional Information

  • Presently the tea being manufactured by the Board is being registered and sold under the brand name Uttarakhand Tea.
  • The organic/inorganic orthodox black and green tea is being manufactured by the board and sold locally through its showrooms, shopkeepers or through the postal service and Kolkata Oxen House.

Question 77

UKPSC Combined Upper Subordinate Service 2021• General Studies

Which among the following banks have the lowest number of branches in Uttarakhand in the year 2020-2021 ?

  1. AOption (a)

    Nationalised Banks

  2. BOption (b)

    Regional Banks

  3. COption (c)

    Private Banks

  4. DOption (d)

    District Co-operative banks

View answer & explanation

Correct answer

Answer: (d)D.

District Co-operative banks

Why this answer is correct

The correct answer is District Co-operative banks.

District Co-operative banks are the lowest among all other banks in Uttarakhand.

Key Points

 District Co-operative Central Bank (DCCB)

  • It is a rural cooperative bank operating at the district level in various parts of India.
  • It was established to provide banking to the rural hinterland for the agricultural sector with the branches primarily established in rural and semi-urban areas.

Private banks

  • These are banks owned by either the individual or a general partner with a limited partner.
  • Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

Regional bank

  • It is a depository institution, i.e. a bank, savings and loan, or credit union, which is larger than a community bank, which operates below the state level, but smaller than a national bank, which operates either nationally or internationally.
  • Currently, in India, there are 12 banks in number that are Nationalised, and their names are Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab, and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra, State Bank Of India.

Question 78

UKPSC Combined Upper Subordinate Service 2021• General Studies

Who is known as father of Genetics ?

  1. AOption (a)

    Hargobind Khurana

  2. BOption (b)

    Thomas Hunt Morgan

  3. COption (c)

    Robert Brown

  4. DOption (d)

    Johann Gregor Mendel

View answer & explanation

Correct answer

Answer: (d)D.

Johann Gregor Mendel

Why this answer is correct

The correct answer is Johann Gregor Mendel.

Key Points 

Gregor Mendel 

  • He was a Mathematician and Biologist from the Austrian Empire (now Czech republic).
  • He is called as Father of Genetics for his extensive research and observations done on pea plants and their characteristics.
  • He coined the terms Recessive and Dominant and used statistical models to learn the behaviour of the plant.
  • He developed the Principle of Inheritance that explained the Transmission of Genes.
  • His observations were later verified with experiments that laid the foundation of the Modern Field of Genetics.

Question 79

UKPSC Combined Upper Subordinate Service 2021• General Studies

What are 'Ramsar Sites' ?

  1. AOption (a)

    Monuments of International Importance

  2. BOption (b)

    Mountains of International Importance

  3. COption (c)

    Wetlands of International Importance

  4. DOption (d)

    Volcanoes of International Importance

View answer & explanation

Correct answer

Answer: (c)C.

Wetlands of International Importance

Why this answer is correct

The correct answer is Wetlands of International Importance.

Key PointsThe Ramsar Convention-1971:

  • An international treaty for the Conservation and Sustainable use of Wetlands
  • The Convention on Wetlands is an intergovernmental treaty that provides the framework for the conservation and wise use of wetlands and their resources.
  • The Convention was adopted in the Iranian city of Ramsar in 1971 and came into force in 1975.
  • Since then, almost 90% of UN member states, from all the world’s geographic regions, have acceded to becoming “Contracting Parties”.
  • India is a party to the Ramsar Convention. India signed under it on 1st February 1982.
  • Chilika Lake (Orissa) and Keoladeo National Park (Rajasthan) were recognized as the first Ramsar Sites of India
  • Sundarbans is the largest Ramsar Site of India
  • On 2nd February 2021, India’s first Centre for Wetland Conservation and Management has been set up in Chennai.

Additional Information

Three Pillars of Convention:

  • The Contracting Parties commit to:
  • work towards the wise use of all their wetlands;
  • designate suitable wetlands for the list of Wetlands of International Importance (the “Ramsar List”) and ensure their effective management;
  • cooperate internationally on transboundary wetlands, shared wetland systems, and shared species.

The Montreux record:

  • The Montreux Record is a register of wetland sites on the List of Wetlands of International Importance where changes in ecological character have occurred, are occurring, or are likely to occur as a result of technological developments, pollution, or other human interference.
  • It is maintained as part of the Ramsar List.

Question 80

UKPSC Combined Upper Subordinate Service 2021• General Studies

In the year 2021, the Nobel Prize in Chemistry was awarded to :

  1. AOption (a)

    Syukuro Manabe, Klaus Hasselmann & Giorgio Parisi

  2. BOption (b)

    David Julius & Ardem Patapoutian

  3. COption (c)

    Benjamin List & David MacMillan

  4. DOption (d)

    Abdulrazak Gurnah

View answer & explanation

Correct answer

Answer: (c)C.

Benjamin List & David MacMillan

Why this answer is correct

The correct answer is ​Benjamin List and David MacMillan. 

Key Points

The Nobel Prize in Chemistry 2021 was awarded jointly to Benjamin List and David W.C. MacMillan.

  • For the development of Asymmetric Organocatalysis.
  • Organocatalysts bind to the reacting molecules to form short-lived intermediates that are more reactive than the substrate molecules on their own.
  • Being chiral, the catalyst transfers its handedness to the substrate, controlling which side of the intermediate can react further.
  • While organocatalysts are used widely in research and discovery, they haven’t quite found their way into large-scale production yet.

Benjamin List

David W.C. MacMillan