Daily Current Affairs (MCQ) | Date 13.11.21

Q1. The Green Grids Initiative-One Sun One World One Grid project was launched by India in partnership with the

a. UK
b. Israel
c. France
d. Germany

Answer : a

Why is the Question ?

At COP26 in Glasgow, the Green Grids Initiative-One Sun One World One Grid project was launched by India in partnership with the UK. The Green Grids Initiative-One Sun One World One Grid (GGIOSOWOG) is an international initiative to create an interconnected global power grid. It imagines renewable energy from solar, wind and water flowing “across continents, countries and communities” from where it is abundant to where it is needed.

Q2. Among the winners of this year’s Padma awards is Rahibai Popere from Maharashtra. Her Padma Shri is a recognition of her work that has helped save hundreds of landraces at the village level. Landraces refer

a. Sacred groves in Western Ghats
b. Vulnerable tribal groups native to Maharastra
c. Agro-biodiversity that supports crop production
d. Naturally occurring variants of commonly cultivated crops

Answer : d

Why is the Question ?

Among the winners of this year’s Padma awards is Rahibai Popere, popularly known as Seedmother, from Maharashtra. Her Padma Shri is a recognition of her work that has helped save hundreds of landraces (wild varieties of commonly grown crops) at the village level.
What it means
1. Landraces refer to naturally occurring variants of commonly cultivated crops. These are as opposed to commercially grown crops, which are developed by selective breeding (hybrids) or through genetic engineering to express a certain trait over others.
2. With hybrid rice and wheat, for example, selective breeding over a period of time has allowed scientists to develop varieties that have higher yields or other desirable traits. Over the years, farmers have adopted these varieties.
3.Experts say crop improvement through selection and breeding over several decades has narrowed the genetic base of most crops 

4. Biodiversity allows a natural mechanism for crops to develop traits to face challenging situations. However, given the large-scale human interference in crop selection, that ability is now lost in most commercial crops.

Q3. Consider the following statements
1. Human intervention in crop selection has reduced genetic diversity in agricultural crops
2. Biodiversity allows a natural mechanism for crops to develop traits to face challenging
situations

Which of the above is/are correct?

a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer : c

Why is the Question ?

1. Landraces refer to naturally occurring variants of commonly cultivated crops. These are as opposed to commercially grown crops, which are developed by selective breeding (hybrids) or through genetic engineering to express a certain trait over others.
2. With hybrid rice and wheat, for example, selective breeding over a period of time has allowed scientists to develop varieties that have higher yields or other desirable traits. Over the years, farmers have adopted these varieties.
3. Experts say crop improvement through selection and breeding over several decades has
narrowed the genetic base of most crops.
4. Biodiversity allows a natural mechanism for crops to develop traits to face challenging situations. However, given the large-scale human interference in crop selection, that ability is now lost in most commercial crops.

Genetic pool the survival mechanism:
1. Amid the threat of climate change, a challenge before scientists and policymakers is to develop varieties that can withstand both abiotic and biotic stresses. Naturally occurring landraces have a large pool of still untapped genetic material, which can provide solutions.
2. Genetic diversity is nature’s survival mechanism. The wider the gene pool, the more the chance of developing a trait that can help in surviving extreme climate events.
3. A common misconception is that landraces have lower yields than hybrids. “With proper agricultural practices, landraces can give better yield with lower input costs.”

Q4. Consider the following statements about the RBI Retail Direct Scheme

1. The scheme allows retail investors to buy and sell government securities (G-Sec) online, both in the primary and secondary markets

2. A Rupee savings bank account maintained in India is a must for the scheme

Which of the above is/are correct?

a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer : c

Why is the Question ?

The RBI Retail Direct Scheme is aimed towards enhancing access to the government securities (GSecs) market for retail investors, while the Reserve Bank - Integrated Ombudsman Scheme aims to improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI.

RBI Retail Direct Scheme
1. The scheme allows retail investors to buy and sell government securities (G-Sec) online, both in the primary and secondary markets. According to details provided by RBI, these small investors can now invest in G-Secs by opening a gilt securities account with the RBI. The account opened will be called Retail Direct Gilt (RDG) Account.
2. According to a notification issued by the RBI, a retail investor can open the RDG account if they have the following — a Rupee savings bank account maintained in India, a PAN card, any officially valid document such as Aadhaar, Voter ID for KYC purpose, a valid email ID and a registered mobile number.
3.Participation and allotment of securities will be as per the non-competitive scheme. Only one bid per security is permitted. On submission of the bid, the total amount payable will be displayed. Payment to the aggregator/receiving office can be made through using the netbanking or UPI facility from the linked bank account, whereby funds will be debited at the time of submission of bids on the portal.

4. Registered investors can access the secondary market transaction link on the online portal to buy or sell government securities through NDSOM.
5. In July, the central bank said investors will have access to bidding in primary auctions as well as the central bank’s trading platform for government securities called Negotiated Dealing System-Order Matching Segment, or NDS-OM.

Q5. Consider the following statements about the RBI Integrated Ombudsman Scheme

1. This will help in improving the grievance redress mechanism for resolving customer complaints against RBI’s regulated entities
2. The scheme is based on “One Nation-One Ombudsman” with one portal

Which of the above is/are correct?
a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2

Answer : c

Why is the Question ?

RBI Integrated Ombudsman Scheme
1. This will help in improving the grievance redress mechanism for resolving customer complaints against RBI’s regulated entities. According to the PMO, the scheme is based on “One Nation-One Ombudsman” with one portal, one email, and one address for the customers to lodge their complaints.
2. Customers will be able to file complaints, submit documents, track status, and give feedback through a single email address. There will also be a multilingual toll-free number that will provide all relevant information on grievance redress.
3. Now, there will be a single point of reference for customers to file their complaints, submit the documents, track status, and provide feedback.
4. Under this scheme, there will be a multilingual toll-free number that will provide all relevant information on grievance redress and assistance for filing complaints. The redressal will continue to be cost-free for customers of banks and members of the public.
Importance of the schemes
1. The move comes at a time when rising inflation adds pressure on the RBI to lift rates. Tighter monetary policy is likely to weaken the demand for bonds, making it challenging for the government to execute its near-record borrowing program.

2. Other emerging-market nations in Asia, like the Philippines, have also sought to raise funds from citizens to battle the pandemic.
3.Yields on India’s benchmark 10-year government bonds have risen in the past five months amid surging crude oil prices. They eased in November after the Narendra Modi-led government cut tax on retail fuels.