Daily Quiz – 6th Feb 2024 By adminFebruary 9, 2024Quiz Daily Quiz - 6th Feb 2024 Daily Quiz - 6th Feb 2024 1 / 6 What is the primary objective of the C-CARES web portal inaugurated by Union Minister Shri Pralhad Joshi for CMPFO (Coal Mines Provident Fund Organization)? a) To promote environmental sustainability in coal sector operations. b) To enhance the efficiency and transparency of online processing for Provident Fund and pension claims. c) To facilitate international collaboration in the coal mining industry. To provide training programs for coal sector workers. Correct Answer: b) To enhance the efficiency and transparency of online processing for Provident Fund and pension claims.The Union Minister of Coal, Mines, and Parliamentary Affairs, inaugurated the C-CARES web portal of the Coal Mines Provident Fund Organization (CMPFO).Developed by the Centre for Development of Advanced Computing (C-DAC), the portal marks a significant step in digitizing CMPFO’s records and processes.CMPFO administers the Provident Fund and Pension schemes for coal sector workers.The portal enables online processing and settlement of PF and pension claims, enhancing efficiency, transparency, and record management.C-CARES allows subscribers to access their details and subscription status, while coal management can submit contributions, subscriber particulars, and claims for online settlement. Correct Answer: b) To enhance the efficiency and transparency of online processing for Provident Fund and pension claims.The Union Minister of Coal, Mines, and Parliamentary Affairs, inaugurated the C-CARES web portal of the Coal Mines Provident Fund Organization (CMPFO).Developed by the Centre for Development of Advanced Computing (C-DAC), the portal marks a significant step in digitizing CMPFO’s records and processes.CMPFO administers the Provident Fund and Pension schemes for coal sector workers.The portal enables online processing and settlement of PF and pension claims, enhancing efficiency, transparency, and record management.C-CARES allows subscribers to access their details and subscription status, while coal management can submit contributions, subscriber particulars, and claims for online settlement. 2 / 6 With reference to chemical fertilizers in India, consider the following statements:At present, the retail price of chemical fertilizers is market-driven and not administered by the Government.Ammonia, which is an input of urea, is produced from natural gas.Sulphur, which is a raw material for phosphoric acid fertilizer, is a by-product of oil refineries.Which of the statements given above is/are correct? 1 only 2 and 3 only 2 only 1, 2 and 3 Explanation:The Government of India subsidizes fertilizers to ensure that fertilizers are easily available to farmers and the country remains self-sufficient in agriculture production. The same has been achieved largely by controlling the price of fertilizer and the amount of production. Hence, statement 1 is not correct.Ammonia (NH3) has been synthesized from natural gas. In this process, natural gas molecules are reduced to carbon and hydrogen. The hydrogen is then purified and reacted with nitrogen to produce ammonia. This synthetic ammonia is used as fertilizer, either directly as ammonia or indirectly after synthesis as urea, ammonium nitrate, and monoammonium or diammonium phosphates. Hence, statement 2 is correct.Sulfur is a major by-product of oil refining and gas processing. Most crude oil grades contain some sulfur, most of which must be removed during the refining process to meet strict sulfur content limits in refined products. This is done through hydrotreating and results in production of H2S gas, which is converted into elemental sulfur. Sulfur can also be mined from underground, naturally-occurring deposits, but this is more costly than sourcing from oil and gas and has largely been discontinued. Sulfuric acid is used in the production of both Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP). Hence, statement 3 is correct.Therefore, option B is the correct answer. Explanation:The Government of India subsidizes fertilizers to ensure that fertilizers are easily available to farmers and the country remains self-sufficient in agriculture production. The same has been achieved largely by controlling the price of fertilizer and the amount of production. Hence, statement 1 is not correct.Ammonia (NH3) has been synthesized from natural gas. In this process, natural gas molecules are reduced to carbon and hydrogen. The hydrogen is then purified and reacted with nitrogen to produce ammonia. This synthetic ammonia is used as fertilizer, either directly as ammonia or indirectly after synthesis as urea, ammonium nitrate, and monoammonium or diammonium phosphates. Hence, statement 2 is correct.Sulfur is a major by-product of oil refining and gas processing. Most crude oil grades contain some sulfur, most of which must be removed during the refining process to meet strict sulfur content limits in refined products. This is done through hydrotreating and results in production of H2S gas, which is converted into elemental sulfur. Sulfur can also be mined from underground, naturally-occurring deposits, but this is more costly than sourcing from oil and gas and has largely been discontinued. Sulfuric acid is used in the production of both Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP). Hence, statement 3 is correct.Therefore, option B is the correct answer. 3 / 6 Consider the following statements: National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country.NPCI has launched RuPay, a card payment scheme.Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 NPCI is an umbrella organisation for operating retail payments and settlement systems in India.It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007for creating a robust Payment and Settlement Infrastructure in India.Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application of any participating bank. The interface has been developed by the National Payments Corporation of India (NPCI).UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.It merges several banking features, seamless fund routing & merchant payments into one hood.It was launched in April 2016and today, the platform has emerged as a popular choice among users for sending and receiving money.It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.In 2018, an upgraded version of UPI 2.0, was launched by the National Payments Corporation of India (NPCI). NPCI is an umbrella organisation for operating retail payments and settlement systems in India.It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007for creating a robust Payment and Settlement Infrastructure in India.Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application of any participating bank. The interface has been developed by the National Payments Corporation of India (NPCI).UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.It merges several banking features, seamless fund routing & merchant payments into one hood.It was launched in April 2016and today, the platform has emerged as a popular choice among users for sending and receiving money.It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.In 2018, an upgraded version of UPI 2.0, was launched by the National Payments Corporation of India (NPCI). 4 / 6 Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’? Mobile wallets will not be necessary for online payments. Digital currency will totally replace the physical currency in about two decades. FDI inflows will drastically increase. Direct transfer of subsidies to poor people will become very effective. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application of any participating bank. The interface has been developed by the National Payments Corporation of India (NPCI).UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.It merges several banking features, seamless fund routing & merchant payments into one hood.It was launched in April 2016and today, the platform has emerged as a popular choice among users for sending and receiving money. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application of any participating bank. The interface has been developed by the National Payments Corporation of India (NPCI).UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.It merges several banking features, seamless fund routing & merchant payments into one hood.It was launched in April 2016and today, the platform has emerged as a popular choice among users for sending and receiving money. 5 / 6 With reference to digital payments, consider the following statements: BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Bharat Interface for Money (BHIM) is a mobile payments application based on NPCI's Unified Payments Interface (UPI). BHIM is developed by the National Payments Corporation of India (NPCI)—the umbrella organization for all retail payment systems in India. Bharat Interface for Money (BHIM) is a mobile payments application based on NPCI's Unified Payments Interface (UPI). BHIM is developed by the National Payments Corporation of India (NPCI)—the umbrella organization for all retail payment systems in India. 6 / 6 With reference to Indian economy, consider the following: Bank rateOpen market operationsPublic debtPublic revenueWhich of the above is/are component/ components of Monetary Policy? 1 only 2, 3 and 4 only 1 and 2 only 1, 3 and 4 only The various different tools and instruments of monetary policy are as follows: cash reserve ratio, statutory liquidity ratio, bank rate, repo rate, reserve repo rate and open market operations. The various different tools and instruments of monetary policy are as follows: cash reserve ratio, statutory liquidity ratio, bank rate, repo rate, reserve repo rate and open market operations. Your score isThe average score is 0% 0% Restart quiz
