To clear the IAS Exam, continuous efforts to master the current affairs component are a must. To answer current affairs based questions in prelims, one should not only have the preliminary information about the current events, but also the clarity about the issues and concepts involved.
To cater to this need of IAS Exam aspirants, Jagran Josh is providing five important Multiple Choice Questions (MCQs) on a daily basis. The questions cover important current affairs events in the fields of economy, national, India-World relations, science and technology, environment, etc. Answers along with detailed explanations to the questions will help the aspirants in answering further questions on the given topic in all the phases of the exam – Preliminary, Mains written and Personality Test.
1. Which of the following lakes has emerged as the single largest habitat of Irrawaddy dolphins in the world?
The Chilika Lake in Odisha has emerged as the single largest habitat of Irrawaddy dolphins in the world. The announcement was made by the Chilika Development Authority (CDA) after spotting 155 such animals.
Irrawaddy dolphins are found in coastal areas in South and Southeast Asia. Apart from the Chilika Lake, these dolphins are primarily found in three rivers - Ayeyarwady (Myanmar), Mahakam (Indonesia) and Mekong. The Mekong River Irrawaddy dolphins inhabit a 118-mile stretch of the river between Cambodia and Laos. In India, these dolphins are found on the east coast from West Bengal to Odisha.
Irrawaddy dolphins have a bulging forehead, short beak, and 12-19 teeth on each side of both jaws. The International Union for Conservation of Nature (IUCN) Red List categorised it as a vulnerable species.
2. Identify the country that owns the Galkynysh Gas Field. It was in the news recently.
d) Saudi Arabia
The Galkynysh Gas Field was in the news in February 2018 as the work on the Afghanistan section of Turkmenistan, Afghanistan, Pakistan and India (TAPI) gas pipeline project began. The TAPI Pipeline, also known as Trans-Afghanistan Pipeline, is a natural gas pipeline being developed by the Asian Development Bank (ADB). The pipeline will transport natural gas from Galkynysh in Turkmenistan through Afghanistan into Pakistan and then to India.
With estimated reserves of up to 14 trillion cubic metres of natural gas and proven commercial reserves of 2.8 trillion cubic metres, Galkynysh field ranks among the world's five largest gas fields.
3. LIBOR, which was in the news recently, refers to
a) Interest rate offered by IMF to member States
b) Bench mark for short term interest rates in India
c) Trade index composed by the World Trade Organisation
d) Bench mark for short term interest rates across the world
In February 2018, German-based Deutsche Bank agreed to pay USD 240 million to settle private US antitrust litigation in which the bank was accused of conspiring with other banks to manipulate the London Inter-bank Offered Rate (LIBOR) benchmark interest rate.
What Is LIBOR?
Every weekday at about 11 a.m., 18 large banks, under the auspices of the British Bankers’ Association, report the rate at which they believe they can borrow a “reasonable” amount of dollars from each other in the so-called London interbank market.
LIBOR’s importance derives from its widespread use as a benchmark for many other interest rates at which business is actually carried out. According to a recent UK Treasury report, USD 300 trillion in financial contracts are tied to LIBOR across the world.
MIBOR & MIBID
Mumbai Inter-Bank Offer Rate (MIBOR) and Mumbai Inter-Bank Bid Rate (MIBID) are the benchmark rates at which Indian banks lend and borrow money to each other. These rates reflect the short term funding costs of major banks. In other words, MIBOR reflects the price at which short term funds are made available to participating banks. MIBID is the rate at which banks would like to borrow from other banks and MIBOR is the rate at which banks are willing to lend to other banks. It should be noted that MIBOR is the Indian version of LIBOR.
4. SpaceX successfully has launched the mysterious Zuma spacecraft for the U.S. government on January 7 2018. Consider the following statements regarding Zuma space mission:
1) According to the SpaceX officials, the Falcon 9 will deliver Zuma to low-Earth orbit (LEO), a range of altitudes that extends up to about 1,240 miles (2,000 kilometres) above the planet.
2) The second stage continued carrying the mysterious Zuma to its destination in low-Earth orbit (LEO), while the first stage began manoeuvring its way back to terra firma for a touchdown at Landing Zone 1, a SpaceX facility at Cape Canaveral.
Which of the above statements is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
SpaceX successfully launched the mysterious Zuma spacecraft for the U.S. government on 7 January 2018. Aerospace and defence company Northrop Grumman has confirmed that it procured Zuma's launch atop a SpaceX Falcon 9 rocket for the U.S. government. But it's unclear which agency is in charge of the Zuma project. Such secrecy is atypical, even if Zuma happens to be a sensitive national-security satellite.
SpaceX has two national-security launches under its belt, and in both cases basic details about the mission were announced. One flight, in May 2017, lofted a satellite for the National Reconnaissance Office, which builds and operates the nation's fleet of spy satellites. The other, which launched in September, launched the robotic X-37B space plane for the U.S. Air Force.
5. Recently, the Council of Scientific and Industrial Research (CSIR) has signed a MoU with the Regional Centre for Science and Technology Transfer (RCSTT) of Indian Ocean Rim Association (IORA). Consider the following statements regarding this:
1) The IORA Coordinating Centre at CSIR-CIMAP will establish a database on the important medicinal plants, their value added products, experts and industries of the IORA member states and organize meetings and training programmes to promote trade, commerce and scientific exchanges.
2) It will promote cooperation in the area of traditional knowledge related to medicinal plants for the welfare of the people of IORA member states.
3) It will also provide an opportunity for two important member states of IORA India and Iran to enhance cooperation between them.
Which of the above statements is/are correct?
a) 1 only
b) 1 and 2
c) 2 and 3
d) 1, 2 and 3
The Council of Scientific and Industrial Research (CSIR) on February 26, 2018 signed a Memorandum of Understanding (MoU) with the Regional Centre for Science and Technology Transfer (RCSTT) of Indian Ocean Rim Association (IORA) for designating Central Institute of Medicinal and Aromatic Plants, Lucknow (CSIR-CIMAP) as Coordinating Centre on Medicinal Plants.
CSIR-CIMAP as Coordinating Centre on Medicinal Plants
• The IORA Coordinating Centre at CSIR-CIMAP will establish a database on the important medicinal plants, their value added products, experts and industries of the IORA member states and organize meetings and training programmes to promote trade, commerce and scientific exchanges.
• It will promote cooperation in the area of traditional knowledge related to medicinal plants for the welfare of the people of IORA member states.
• It will also provide an opportunity for two important member states of IORA India and Iran to enhance cooperation between them.
• The Iranian side emphasized the historical importance of this initiative and expressed their happiness and optimism on this new initiative. This is a major development to boost the relationship between India and Iran.