1. Which of the following statements is/are correct about The Securities and Exchange Board of India?
1. SEBI is a non-statutory body.
2. It is the regulator of securities markets in India.

Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
Statement 1 is incorrect: The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

Statement 2 is correct: The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India as "...to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto"

Source:
https://www.thehindu.com/business/markets/sebi-urges-peers-to-rethink-bond-market-curbs/article35658104.ece
https://www.sebi.gov.in/about-sebi.html


2. Which of the following statements is/are correct about the Service sector in India?
1. Percentage of total employment generated by the services sector is more than its percentage contribution to GDP.
2. The service sector in India has zero employment elasticity.

Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
Statement 1 is incorrect: The growth of the Services Sector in India is a unique example of leap-frogging traditional models of economic growth. Within a short span of 50 years since independence, the contribution of the service sector in India to the country’s GDP is a lion’s share of over 60%. However, it still employs only 25% of the labour force.

Statement 2 is incorrect: The service sector in India has the highest employment elasticity among all sectors. Thus, it has the potential for huge growth as well as the capability to deliver highly productive jobs - leading to revenue generation.

Source:
https://www.thehindu.com/business/Industry/govt-framing-standards-for-services-sector-goyal/article35658462.ece
https://www.investindia.gov.in/team-india-blogs/service-sector-india-paradigm-shift


3. Which of the following statements is/are correct about Dholavira?
1. It is the first Indus Civilisation site in India that received the World Heritage tag.
2. It is the largest Harappan site in Indian.

Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:
With its planned streets, intricate water management system and architectural features, the ancient Harappan city located at Dholavira in Gujarat’s Rann of Kutch has a lot to offer on the ancient civilisation. With its inscription on UNESCO’s World Heritage list on July 27, experts hope the lessons from Dholavira will reach a larger audience and that the site will get greater care.

Statement 1 is correct: The Harappan city is the first Indus Civilisation site in India that received the World Heritage tag.

Statement 2 is incorrect: Spread over 70 hectares, the remains are encompassed within an outer fortification and make for the fifth largest Harappan site after Mohenjo-daro, Harappa, Rakhigarhi and Ganweriwala, or sixth if Lakhanjo-daro is taken into account, according to the nomination dossier.

Source:
https://www.thehindu.com/news/national/dholavira-ruins-of-an-indus-valley-civilisation-site/article35654745.ece#:~:text=Rajesh-,The%20Harappan%20city%20is%20the%20first%20Indus%20Civilisation%20site%20in,offer%20on%20the%20ancient%20civilisation.

4. Which of the following statements is correct about Indian Council of Medical Research (ICMR)?
(a) It is the regulator of medical education in India.
(b) It is the apex body in India for the formulation, coordination and promotion of biomedical research.
(c) It is India’s largest medical college fully funded by private investors.
(d) None of the above

Explanation:Option (b) is correct
The Indian Council of Medical Research (ICMR), New Delhi, the apex body in India for the formulation, coordination and promotion of biomedical research, is one of the oldest medical research bodies in the world.
ICMR promotes biomedical research in the country through intramural as well as extramural research.

Source:
https://www.thehindu.com/news/national/explained-are-states-under-reporting-covid-19-cases/article35658867.ece
https://www.who.int/workforcealliance/members_partners/member_list/icmr/en/


5. Which of the following is/are advantages of digital currency?
1. Faster payment
2. Less expensive international transfers
3. Increase in financial inclusion
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3

Explanation: Option (d) is correct
Digital currency is any currency that’s available exclusively in electronic form.
Benefits of digital currency:
●    Faster payments. Using digital currency you can complete payments much faster than current means, like ACH or wire transfers, which can take days for financial institutions to confirm a transaction.
●    Less expensive international transfers. International currency transactions are very expensive; individuals are charged high fees to move funds from one country to another, especially when it involves currency conversions. “Digital assets are disrupting this marketing by making it faster and less costly,” said Andrew Kiguel, CEO of Tokens.com.
●    24/7 access. Existing money transfers often take more time during weekends and outside normal business hours because banks are closed and can’t confirm transactions. With digital currency, transactions work at the same speed 24 hours a day, seven days a week.
●    Support for the unbanked and underbanked (Financial inclusion). More than 7 million American households do not have a bank account, according to the FDIC. They end up paying costly fees to cash their paychecks and send payments to others through money orders or remittances. If the country launched a CBDC, unbanked individuals could access their money and pay their bills without extra charges.
●    More efficient government payments. If the government developed a CBDC, it could send payments like tax refunds, child benefits and food stamps to people instantly, rather than trying to mail them a check or figure out prepaid debit cards.
Source:
https://www.thehindu.com/business/Economy/is-rbi-planning-a-digital-currency-for-india/article35659016.ece
https://www.forbes.com/advisor/investing/digital-currency/