Daily Current Affairs Quiz March 11, 2025
Daily Current Affairs Quiz
Consider the following statements about Perpetual Bonds:
a) They have a fixed maturity date beyond which the principal is returned
b) They are considered more as debt instruments than equity
c) Their price is calculated by dividing the fixed interest payment by a discount rate
d) They are highly liquid and form a major portion of the bond marketWith reference to Windfall Tax in India, which of the following statements is/are correct?
a) It is a tax imposed on anticipated profits of a company
b) The primary objective is to penalize companies that exceed their profit targets
c) Recently, the Centre reduced the windfall tax on domestically produced crude oil to nil from Rs 3,500 per tonne
d) It can only be imposed on oil companies and not on other sectorsThe Agriculture Infrastructure Fund (AIF) launched in 2020 aims to:
a) Provide direct income support to farmers
b) Mobilize finances for post-harvest management infrastructure and community farming assets
c) Subsidize agricultural equipment purchases for small farmers
d) Increase agricultural land under organic farmingThe SPICED scheme, recently approved by the Union Ministry of Commerce and Industry, is related to:
a) Promotion of traditional Indian cuisine globally
b) Development of spice parks in major spice growing regions
c) Enhancement of spice exports and improving productivity of cardamoms
d) Implementation of organic certification for Indian spicesWith regard to India’s performance in the Financial Action Task Force (FATF) Mutual Evaluation Report 2024, which of the following is correct?
a) India was placed in the “enhanced follow-up” category
b) The report criticized India’s cash-based economy as a risk factor
c) India was placed in the “regular follow-up” category – a distinction shared by only a few G20 countries
d) The report recommended significant changes to India’s anti-money laundering frameworkMission Mausam, launched in January 2025, is associated with:
a) Cultural mapping and revival of India’s maritime heritage
b) Enhancement of India’s weather forecasting and climate resilience capabilities
c) Digitization of meteorological archives dating back to the British era
d) International cooperation on monsoon prediction with Indian Ocean Rim countriesSonoluminescence refers to:
a) Emission of light by certain minerals when subjected to pressure
b) A medical imaging technique using sound waves
c) Light emitted by small gas bubbles in a liquid when exposed to intense sound waves
d) A traditional Indian art form involving light and shadow playThe concept of “Wood Wide Web” is related to:
a) An online platform for trading timber and forest products
b) A network where trees share resources using underground mycorrhizal fungi
c) A database of endangered tree species maintained by the Forest Survey of India
d) A satellite-based monitoring system for tracking illegal deforestationBrain-Computer Interfaces (BCIs) are technologies that:
a) Replace damaged brain tissues with synthetic materials
b) Establish direct communication pathways between the brain and external devices
c) Are primarily used for enhancing memory in patients with cognitive disorders
d) Have been completely banned for medical applications due to ethical concernsThe technology known as “Organ-on-a-Chip” primarily serves which of the following purposes?
a) Creating miniature, functional models of human organs for research and testing
b) Developing microprocessors with organic components for next-generation computers
c) Storing genetic information of organ donors for transplantation matching
d) Monitoring organ functions in patients with chronic diseases
Answers and Explanations
Answer: c) Their price is calculated by dividing the fixed interest payment by a discount rate
Explanation: Perpetual bonds are fixed-income securities with no maturity date, meaning they never return the principal and instead pay interest indefinitely. They are considered more like equity than debt (contrary to option b) due to their endless duration. Their price is calculated by dividing the fixed interest payment by a discount rate, which represents how money loses value over time. These bonds exist within a small niche of the bond market (not a major portion as suggested in option d) because few entities are trusted enough by investors to issue bonds where the principal will never be repaid.
Answer: c) Recently, the Centre reduced the windfall tax on domestically produced crude oil to nil from Rs 3,500 per tonne
Explanation: Windfall tax is imposed on unexpected rises in profits that result from external factors, not anticipated profits (option a is incorrect). Its primary objective is to take advantage of high profits made by companies (especially oil companies) for the nation’s needs and to implement redistributive justice, not to penalize companies (option b is incorrect). The Centre has announced a reduction of special additional excise duty, or windfall tax, on domestically produced crude oil to nil from Rs 3,500 per tonne, effective from April 4, which makes option c correct. While currently applied to oil companies, windfall taxes can theoretically be imposed on any sector experiencing unexpected windfalls, making option d incorrect.
Answer: b) Mobilize finances for post-harvest management infrastructure and community farming assets
Explanation: The Agriculture Infrastructure Fund (AIF) launched in 2020 aims to mobilize medium to long-term finances for investing in agriculture and allied projects, with a specific focus on post-harvest management infrastructure and community farming assets. It is not a direct income support scheme like PM-KISAN (option a is incorrect), nor is it primarily for subsidizing equipment purchases (option c) or promoting organic farming (option d). The AIF has a total size of Rs. 1 lakh crore and provides credit guarantees for loans up to Rs. 2 crore under the Credit Guarantee Fund Trust for Micro and Small Enterprises scheme.
Answer: c) Enhancement of spice exports and improving productivity of cardamoms
Explanation: The SPICED (Sustainability in spice sector through progressive, innovative and collaborative interventions for export development) scheme is aimed at significantly enhancing the export of spices and value-added spice products as well as improving the productivity of cardamoms and upgrading the post-harvest quality of spices across India for export. It will be implemented up to 2025-26, coinciding with the term of the 15th Finance Commission. The scheme includes components like Mission Value Addition, Mission Clean and Safe Spices, promotion of GI spices, and support for entrepreneurship through Spice Incubation Centers.
Answer: c) India was placed in the “regular follow-up” category – a distinction shared by only a few G20 countries
Explanation: According to the FATF Mutual Evaluation Report adopted in June 2024, India was placed in the “regular follow-up” category, a distinction shared by only a handful of G20 countries. This rating reflects India’s robust measures to mitigate money laundering and terrorist financing risks. Far from criticizing India’s cash-based economy, the FATF acknowledged India’s effective measures to transition from a cash-based to a digital economy, utilizing the JAM (Jan Dhan, Aadhaar, Mobile) Trinity along with stricter cash transaction regulations.
Answer: b) Enhancement of India’s weather forecasting and climate resilience capabilities
Explanation: Mission Mausam was inaugurated by Prime Minister Narendra Modi on January 14, 2025, marking the 150th anniversary of the India Meteorological Department. The mission aims to enhance India’s weather forecasting and climate resilience capabilities with a budget of Rs 2,000 crore for its first two years. It seeks to upgrade the IMD’s forecasting, modeling, and dissemination capabilities to support various sectors including agriculture, aviation, defense, disaster management, tourism, and health. A key aspect is the establishment of a cloud chamber at the Indian Institute of Tropical Meteorology in Pune for studying cloud formation under controlled conditions.
Answer: c) Light emitted by small gas bubbles in a liquid when exposed to intense sound waves
Explanation: Sonoluminescence is a phenomenon in which small gas bubbles in a liquid emit short bursts of light when exposed to intense sound waves. Although the general mechanism is understood, the exact details of how the light is produced remain somewhat mysterious. Scientists are still exploring the precise processes that cause the gases inside the bubble to ionize and emit light at such high temperatures. This phenomenon can be observed in laboratory settings and in nature, such as when the pistol shrimp snaps its claw, creating a collapsing bubble that produces light.
Answer: b) A network where trees share resources using underground mycorrhizal fungi
Explanation: The “Wood Wide Web” refers to an underground network where trees share resources. This concept was revealed by Dr. Suzanne Simard from the University of British Columbia. In this network, mycorrhizal fungi colonize plant roots, and their tiny fungal filaments (mycelia) connect the hairy root tips of different trees together. These fungi form symbiotic relationships with plants, creating a harmless and harmonious connection. This relationship between plants and fungi is ancient, with fossils showing evidence of this association dating back approximately 400 million years.
Answer: b) Establish direct communication pathways between the brain and external devices
Explanation: Brain-Computer Interfaces (BCIs) are technologies that establish direct communication pathways between the brain and external devices, bypassing the normal neuromuscular channels. They can record brain signals and translate them into commands for external devices, or they can stimulate specific regions of the brain to produce sensory experiences. BCIs have applications in medical fields for helping people with paralysis control prosthetic limbs or communication devices, as well as potential uses in cognitive enhancement and human-computer interaction.
Answer: a) Creating miniature, functional models of human organs for research and testing
Explanation: “Organ-on-a-Chip” technology involves creating miniature, functional models of human organs using microfluidic chips lined with living human cells. These chips mimic the structure and function of human organs, allowing researchers to study human physiology, disease mechanisms, and drug responses in a controlled environment that better represents human biology than traditional cell cultures or animal models. This technology has significant implications for drug development, toxicity testing, personalized medicine, and reducing the need for animal testing in pharmaceutical research.