UPSC Editorials Quiz : 31 August 2024

Introducing QUED – Questions from Editorials (UPSC Editorials Quiz) , an innovative initiative from InsightsIAS. Considering the significant number of questions in previous UPSC Prelims from editorials, practicing MCQs from this perspective can provide an extra edge. While we cover important editorials separately in our Editorial Section and SECURE Initiative, adding QUED (UPSC Editorials Quiz) to your daily MCQ practice alongside Static Quiz, Current Affairs Quiz, and InstaDART can be crucial for better performance. We recommend utilizing this initiative to enhance your preparation, with 5 MCQs posted daily at 11 am from Monday to Saturday on our website under the QUIZ menu.

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• Question 1 of 5 1. Question Consider the following statements regarding the PM Mudra Yojana: The scheme was launched by the Ministry of Rural Development. MUDRA directly lends to micro-entrepreneurs and individuals. The PM Mudra Yojana offers loans for income-generating activities in sectors such as manufacturing, trading, and agriculture. The udyamimitra portal has been introduced to facilitate online loan applications. Which of the statements given above is/are incorrect? a) 1 and 2 b) 2 only c) 1, 2, and 3 d) 3 and 4 Correct Solution: a) Feature of the scheme Features Description Full name Mudra – Micro Units Development & Refinance Agency Ltd Launch Year 2015 Ministry Department of Financial Services, Ministry of Finance Aim Providing loans up to Rs. 10 lakh to non-corporate, non-farm small/micro-enterprises Three pillars of the scheme 1. Banking the Unbanked 2. Securing the Unsecured 3. Funding the Unfunded Funding Provision MUDRA, a financial institution set up by the government, provides funding to the small business sector through institutions like Scheduled commercial banks, NBFCs, and MFIs. MUDRA is a refinancing Institution. MUDRA does not lend directly to micro-entrepreneurs / individuals. Loan Products 1. Shishu (up to Rs. 50,000) 2. Kishore (above Rs. 50,000 and up to Rs. 5 lakh) 3. Tarun (above Rs. 5 lakh and up to Rs. 10 lakh) Collateral Loans under this scheme are collateral-free loans Target Beneficiaries Disadvantaged sections of society such as women entrepreneurs, SC/ST/OBC borrowers, minority community borrowers, and new entrepreneurs Products and Services Loans can be used for income-generating activities in the manufacturing, trading, services sector, and agriculture Expansion PMMY has been expanded over time to cover activities related to agriculture, such as fishing, dairy, and food processing, and loans for tractors and power tillers, and two-wheelers for commercial use were included in PMMY Steps taken to improve the scheme udyamimitra portal (for online applications); End-to-end digital lending for automated sanctions under PMMY (by some banks); Nomination of Mudra Nodal Officers in PSBs; Interest Subvention of 2% on prompt repayment of Shishu loans Incorrect Solution: a) Feature of the scheme Features Description Full name Mudra – Micro Units Development & Refinance Agency Ltd Launch Year 2015 Ministry Department of Financial Services, Ministry of Finance Aim Providing loans up to Rs. 10 lakh to non-corporate, non-farm small/micro-enterprises Three pillars of the scheme 1. Banking the Unbanked 2. Securing the Unsecured 3. Funding the Unfunded Funding Provision MUDRA, a financial institution set up by the government, provides funding to the small business sector through institutions like Scheduled commercial banks, NBFCs, and MFIs. MUDRA is a refinancing Institution. MUDRA does not lend directly to micro-entrepreneurs / individuals. Loan Products 1. Shishu (up to Rs. 50,000) 2. Kishore (above Rs. 50,000 and up to Rs. 5 lakh) 3. Tarun (above Rs. 5 lakh and up to Rs. 10 lakh) Collateral Loans under this scheme are collateral-free loans Target Beneficiaries Disadvantaged sections of society such as women entrepreneurs, SC/ST/OBC borrowers, minority community borrowers, and new entrepreneurs Products and Services Loans can be used for income-generating activities in the manufacturing, trading, services sector, and agriculture Expansion PMMY has been expanded over time to cover activities related to agriculture, such as fishing, dairy, and food processing, and loans for tractors and power tillers, and two-wheelers for commercial use were included in PMMY Steps taken to improve the scheme udyamimitra portal (for online applications); End-to-end digital lending for automated sanctions under PMMY (by some banks); Nomination of Mudra Nodal Officers in PSBs; Interest Subvention of 2% on prompt repayment of Shishu loans

#### 1. Question

Consider the following statements regarding the PM Mudra Yojana:

• The scheme was launched by the Ministry of Rural Development.

• MUDRA directly lends to micro-entrepreneurs and individuals.

• The PM Mudra Yojana offers loans for income-generating activities in sectors such as manufacturing, trading, and agriculture.

• The udyamimitra portal has been introduced to facilitate online loan applications.

Which of the statements given above is/are incorrect?

• a) 1 and 2

• c) 1, 2, and 3

• d) 3 and 4

Solution: a)

Feature of the scheme

Features | Description

Full name | Mudra – Micro Units Development & Refinance Agency Ltd

Launch Year | 2015

Ministry | Department of Financial Services, Ministry of Finance

Aim | Providing loans up to Rs. 10 lakh to non-corporate, non-farm small/micro-enterprises

Three pillars of the scheme | 1. Banking the Unbanked 2. Securing the Unsecured 3. Funding the Unfunded

Funding Provision | MUDRA, a financial institution set up by the government, provides funding to the small business sector through institutions like Scheduled commercial banks, NBFCs, and MFIs. MUDRA is a refinancing Institution. MUDRA does not lend directly to micro-entrepreneurs / individuals.

Loan Products | 1. Shishu (up to Rs. 50,000) 2. Kishore (above Rs. 50,000 and up to Rs. 5 lakh) 3. Tarun (above Rs. 5 lakh and up to Rs. 10 lakh)

Collateral | Loans under this scheme are collateral-free loans

Target Beneficiaries | Disadvantaged sections of society such as women entrepreneurs, SC/ST/OBC borrowers, minority community borrowers, and new entrepreneurs

Products and Services | Loans can be used for income-generating activities in the manufacturing, trading, services sector, and agriculture

Expansion | PMMY has been expanded over time to cover activities related to agriculture, such as fishing, dairy, and food processing, and loans for tractors and power tillers, and two-wheelers for commercial use were included in PMMY

Steps taken to improve the scheme | udyamimitra portal (for online applications); End-to-end digital lending for automated sanctions under PMMY (by some banks); Nomination of Mudra Nodal Officers in PSBs; Interest Subvention of 2% on prompt repayment of Shishu loans

2. Securing the Unsecured

1.Funding the Unfunded

MUDRA is a refinancing Institution. MUDRA does not lend directly to micro-entrepreneurs / individuals.

1.Kishore (above Rs. 50,000 and up to Rs. 5 lakh)

1.Tarun (above Rs. 5 lakh and up to Rs. 10 lakh)

Solution: a)

Feature of the scheme

Features | Description

Full name | Mudra – Micro Units Development & Refinance Agency Ltd

Launch Year | 2015

Ministry | Department of Financial Services, Ministry of Finance

Aim | Providing loans up to Rs. 10 lakh to non-corporate, non-farm small/micro-enterprises

Three pillars of the scheme | 1. Banking the Unbanked 2. Securing the Unsecured 3. Funding the Unfunded

Loan Products | 1. Shishu (up to Rs. 50,000) 2. Kishore (above Rs. 50,000 and up to Rs. 5 lakh) 3. Tarun (above Rs. 5 lakh and up to Rs. 10 lakh)

Collateral | Loans under this scheme are collateral-free loans

Target Beneficiaries | Disadvantaged sections of society such as women entrepreneurs, SC/ST/OBC borrowers, minority community borrowers, and new entrepreneurs

Products and Services | Loans can be used for income-generating activities in the manufacturing, trading, services sector, and agriculture

2. Securing the Unsecured

1.Funding the Unfunded

MUDRA is a refinancing Institution. MUDRA does not lend directly to micro-entrepreneurs / individuals.

1.Kishore (above Rs. 50,000 and up to Rs. 5 lakh)

1.Tarun (above Rs. 5 lakh and up to Rs. 10 lakh)

• Question 2 of 5 2. Question Which of the following pension schemes offers a minimum assured pension of ₹10,000 per month for a minimum of 10 years of service? a) National Pension Scheme (NPS) b) Unified Pension Scheme (UPS) c) Old Pension Scheme (OPS) d) None of the above Correct Solution: b) The Unified Pension Scheme (UPS), effective from April 1, 2025, guarantees a minimum assured pension of ₹10,000 per month for government employees who have served at least 10 years. This is higher than the minimum assured pension under the Old Pension Scheme (OPS) and provides more financial security compared to the market-linked returns of the National Pension Scheme (NPS), which does not offer any minimum assured pension. Incorrect Solution: b) The Unified Pension Scheme (UPS), effective from April 1, 2025, guarantees a minimum assured pension of ₹10,000 per month for government employees who have served at least 10 years. This is higher than the minimum assured pension under the Old Pension Scheme (OPS) and provides more financial security compared to the market-linked returns of the National Pension Scheme (NPS), which does not offer any minimum assured pension.

#### 2. Question

Which of the following pension schemes offers a minimum assured pension of ₹10,000 per month for a minimum of 10 years of service?

• a) National Pension Scheme (NPS)

• b) Unified Pension Scheme (UPS)

• c) Old Pension Scheme (OPS)

• d) None of the above

Solution: b)

The Unified Pension Scheme (UPS), effective from April 1, 2025, guarantees a minimum assured pension of ₹10,000 per month for government employees who have served at least 10 years. This is higher than the minimum assured pension under the Old Pension Scheme (OPS) and provides more financial security compared to the market-linked returns of the National Pension Scheme (NPS), which does not offer any minimum assured pension.

Solution: b)

• Question 3 of 5 3. Question To avail the accidental insurance cover under PMSBY through PMJDY, what condition must be met by the beneficiary? a) The beneficiary must have performed at least one successful transaction with their debit card 90 days prior to the date of the accident. b) The beneficiary must have a minimum balance of ₹500 in their account. c) The beneficiary must be above 60 years of age. d) The beneficiary must have completed three transactions in the last six months. Correct Solution: a) For account holders to avail of the accidental insurance cover of ₹2 lakhs under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) through PMJDY, they must have performed at least one successful transaction with their debit card within 90 days prior to the accident. This ensures active usage of the account to remain eligible for the insurance benefits. Incorrect Solution: a) For account holders to avail of the accidental insurance cover of ₹2 lakhs under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) through PMJDY, they must have performed at least one successful transaction with their debit card within 90 days prior to the accident. This ensures active usage of the account to remain eligible for the insurance benefits.

#### 3. Question

To avail the accidental insurance cover under PMSBY through PMJDY, what condition must be met by the beneficiary?

• a) The beneficiary must have performed at least one successful transaction with their debit card 90 days prior to the date of the accident.

• b) The beneficiary must have a minimum balance of ₹500 in their account.

• c) The beneficiary must be above 60 years of age.

• d) The beneficiary must have completed three transactions in the last six months.

Solution: a)

For account holders to avail of the accidental insurance cover of ₹2 lakhs under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) through PMJDY, they must have performed at least one successful transaction with their debit card within 90 days prior to the accident. This ensures active usage of the account to remain eligible for the insurance benefits.

Solution: a)

• Question 4 of 5 4. Question Consider the following statements regarding the Voice of Global South Summit (VOGSS): The Voice of Global South Summit (VOGSS) is an initiative that unites Global South countries to share perspectives on global issues. The philosophy of ‘Vasudhaiva Kutumbakam’ underpins the VOGSS. The first VOGSS was hosted by China in January 2023. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: b) Statement 1 is correct as the Voice of Global South Summit (VOGSS) unites Global South countries to share perspectives on global issues. Statement 2 is correct because the philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family) underpins the VOGSS. Statement 3 is incorrect because the first VOGSS was hosted by India, not China, in January 2023. Incorrect Solution: b) Statement 1 is correct as the Voice of Global South Summit (VOGSS) unites Global South countries to share perspectives on global issues. Statement 2 is correct because the philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family) underpins the VOGSS. Statement 3 is incorrect because the first VOGSS was hosted by India, not China, in January 2023.

#### 4. Question

Consider the following statements regarding the Voice of Global South Summit (VOGSS):

• The Voice of Global South Summit (VOGSS) is an initiative that unites Global South countries to share perspectives on global issues.

• The philosophy of ‘Vasudhaiva Kutumbakam’ underpins the VOGSS.

• The first VOGSS was hosted by China in January 2023.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: b)

• Statement 1 is correct as the Voice of Global South Summit (VOGSS) unites Global South countries to share perspectives on global issues.

• Statement 2 is correct because the philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family) underpins the VOGSS.

Statement 3 is incorrect because the first VOGSS was hosted by India, not China, in January 2023.

Solution: b)

• Statement 1 is correct as the Voice of Global South Summit (VOGSS) unites Global South countries to share perspectives on global issues.

• Statement 2 is correct because the philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family) underpins the VOGSS.

Statement 3 is incorrect because the first VOGSS was hosted by India, not China, in January 2023.

• Question 5 of 5 5. Question The “Vigyan Dhara” initiative, mentioned in the BioE3 Policy, is related to: a) promoting digital infrastructure in rural India b) consolidating various biotechnology schemes c) enhancing public health through immunization programs d) increasing foreign investment in scientific research Correct Solution: b) The “Vigyan Dhara” initiative under the BioE3 Policy represents the merging of various existing schemes into a single, cohesive initiative focused on science, technology, research, and innovation. This consolidation allows for more efficient allocation of resources and strategic focus on key areas like biotechnology, fostering an environment conducive to innovation and development. The policy ensures that significant resources are dedicated to these sectors to promote the biotechnology manufacturing revolution in India. Incorrect Solution: b) The “Vigyan Dhara” initiative under the BioE3 Policy represents the merging of various existing schemes into a single, cohesive initiative focused on science, technology, research, and innovation. This consolidation allows for more efficient allocation of resources and strategic focus on key areas like biotechnology, fostering an environment conducive to innovation and development. The policy ensures that significant resources are dedicated to these sectors to promote the biotechnology manufacturing revolution in India.

#### 5. Question

The “Vigyan Dhara” initiative, mentioned in the BioE3 Policy, is related to:

• a) promoting digital infrastructure in rural India

• b) consolidating various biotechnology schemes

• c) enhancing public health through immunization programs

• d) increasing foreign investment in scientific research

Solution: b)

The “Vigyan Dhara” initiative under the BioE3 Policy represents the merging of various existing schemes into a single, cohesive initiative focused on science, technology, research, and innovation. This consolidation allows for more efficient allocation of resources and strategic focus on key areas like biotechnology, fostering an environment conducive to innovation and development. The policy ensures that significant resources are dedicated to these sectors to promote the biotechnology manufacturing revolution in India.

Solution: b)

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