Syllabus

• Prelims –GOVERNMENT SCHEMES

Context: Recently, the MSME Ministry launched 3 sub-schemes under the RAMP ((Raising and Accelerating MSME Productivity) programme.

Background:-

• MSME Minister Narayan Rane launched three sub-schemes under the ministry’s existing RAMP ((Raising and Accelerating MSME Productivity) programme to encourage the adoption of sustainable technology in business, boost the circular economy and address delayed payments issue.

About RAMP ((Raising and Accelerating MSME Productivity) programme:-

• Launched: 30th June 2022.
• Ministry: Ministry of Micro, Small & Medium Enterprises.
• Objectives: to scale up the implementation capacity and coverage of MSMEs in the States, with impact enhancement of existing MSME schemes.

Salient Features:-

• Raising and Accelerating MSME Productivity (RAMP)” is a Central Sector Scheme.
• The scheme shall implement regulatory, financial, and implementation reforms as well as firm-level access reforms to provide targeted interventions to MSMEs across recognized challenge areas.
• The  RAMP program will seek to scale up implementation capacity and firm coverage in the states of Gujarat, Maharashtra, Punjab, Rajasthan, and Tamil Nadu.

• It aims to enhance access to market and credit by strengthening institutions, enhancing centre-state partnerships, addressing issues of delayed payments and greening of MSMEs, and ramping up implementation capacity and MSME coverage in states, with the impact enhancement of existing MSME schemes. A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE)

Eligibility:-

• The MSME should be registered under the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006.
• The MSME should have a valid Udyog Aadhaar Number (UAN).

Benefits:-

Address Challenges in the MSME Sector:

• The RAMP program will address the generic and Covid related challenges in the MSME sector by way of impact enhancement of existing MSME schemes, especially, on the competitiveness front.

Address inadequately Addressed Blocks in MSME:

• The program will bolster the inadequately addressed blocks of capacity building, handholding, skill development, quality enrichment, technological upgradation, digitization, outreach, and marketing promotion, amongst other things.

Generate Employment:

• The RAMP program, through enhanced collaboration with States, will be a job enabler, market promoter, and finance facilitator, and will support vulnerable sections and greening initiatives.

Usher in Larger Formalization:

• In States where the presence of MSMEs is on the lower side, the program will usher in larger formalization resulting from the higher impact of the schemes covered under RAMP.
• The SIPs developed by these States would act as a roadmap for the development of an improved MSME sector.

Complement the Atmanirbhar Bharat Mission:

• RAMP will complement the AtmanNirbhar Bharat mission by fostering innovation and enhancement in industry standards, and practices and providing the necessary technological inputs to the MSMEs.

MUST READ: Empowering MSMEs digitally

SOURCE: FINANCIAL EXPRESS

PREVIOUS YEAR QUESTIONS

Q.1) With reference to Pradhan Mantri Kaushal Vikas Yojana, consider the following statements : (2018)

1. It is the flagship scheme of the Ministry of Labour and Employment.
2. It, among other things, will also impart training in soft skills, entrepreneurship, financial and digital literacy.
3. It aims to align the competencies of the unregulated workforce of the country to the National Skill Qualification Framework.

Which of the statements given above is/are correct?

1. 1 and 3 only
2. 2 only
3. 2 and 3 only
4. 1, 2 and 3

Q.2) What is the aim of the programme ‘Unnat Bharat Abhiyan’? (2017)

1. Achieving 100% literacy by promoting collaboration between voluntary organizations and the government’s education system and local communities.
2. Connecting institutions of higher education with local communities to address development challenges through appropriate technologies.
3. Strengthening India’s scientific research institutions in order to make India a scientific and technological power.
4. Developing human capital by allocating special funds for health care and education of rural and urban poor, and organizing skill development programmes and vocational training for them.

Syllabus

• Prelims – ECONOMY

Context: The Securities Appellate Tribunal (SAT) recently, quashed regulator Sebi’s order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case.

Background:-

• Dismissing the Sebi’s order, the appellate tribunal said that the entities did not trade in the shares of Future Retail Ltd (FRL) on the basis of unpublished price sensitive information (UPSI) relating to demerger as such information was already in the public domain through multiple media reports.

About Securities Appellate Tribunal (SAT):-

• Established: 27th May, 2014.
• HQ: Mumbai.
• It is under the jurisdiction of Ministry of Finance.
• It is a statutory body established under the provisions of the Securities and Exchange Board of India Act, 1992.
• Objective: to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act.
• A Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.
• The Securities Appellate Tribunal is established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992.
• It is to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.
• SAT hears and disposes of appeals against orders passed by the Pension Fund Regulatory and Development Authority (PFRDA) under the PFRDA Act, 2013.
• Further, SAT hears and disposes of appeals against orders passed by the:-
  • Insurance Regulatory Development Authority of India (IRDAI) under the Insurance Act, 1938,
  • General Insurance Business (Nationalization) Act, 1972 and
  • Insurance Regulatory and Development Authority Act, 1999 and the Rules and Regulations framed thereunder.
• Composition: It consists of a Presiding Officer and two other Members.
• Powers: It has the same powers as those vested in a civil court.
• Appeal: If any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court.

MUST READ: (SEBI) extends trading ban on Agri commodities

SOURCE: THE ECONOMICS TIMES

PREVIOUS YEAR QUESTIONS

Q.1) Consider the following statements: (2022)

1. In India, credit rating agencies are regulated by the Reserve Bank of India.
2. The rating agency popularly known as ICRA is a public limited company.
3. Brickwork Ratings is an Indian credit rating agency.

Which of the statements given above is correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Q.2) With reference to the Indian economy, consider the following statements. (2022)

1. An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of the rupee.
2. An increase in the Real Effective Exchange Rate (REER) indicates an improvement in trade competitiveness.
3. An increasing trend in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER.

Which of the above statements is correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Syllabus

• Prelims –HISTORY

Context: Unique, prehistoric rock art drawings have been discovered in the Andriamamelo Cave in western Madagascar recently.

Key Features:-

• Madagascar cave art hints at ancient connections between Africa and Asia.
• Pictorial art, depicting images of nature with human-like and animal-like figures have been discovered.
• Previously, Madagascar’s rock art mainly featured basic symbols. The new findings depict more complex scenes and figures.
• Some scenes bear a resemblance to motifs from Egypt’s Ptolemaic period (300-30 BCE).
• Major images hint at Egyptian deities like Horus, Thoth, Ma`at, and Anubis.
• Symbols and writings suggest cultural links to the Ethiopian and Afro-Arab worlds.
• The art shares similarities with a two-millennia-old cave art style from Borneo.
• The art may depict at least three extinct animals of Madagascar, including a giant sloth lemur, elephant birds, and a giant tortoise.
• The ubiquitous M-shaped symbol matches the Amharic alphabet’s “hawt” and is linked to the concept of the “breath of life” in some Austronesian languages.
• The art lacks Christian, Muslim, Hindu symbols, and modern motifs, indicating its ancient origins.

Significance:-

• The discovery’s implications hold significance in the reconstruction of Malagasy early history. (Ratnagiri’s pre-historic rock art)

About Andriamamelo Cave:-

• It is situated in the western part of Madagascar.
• The cave is nestled within the karstified limestone terrain of the Paysage Harmonieux Protege de Beanka, contributing to its unique geological structure.
• This cave is a notable part of a broader karst region that includes the Parc National de Bemaraha, acknowledged as a UNESCO World Heritage site.
• It is characterized by intricate underground formations resulting from the dissolution of soluble rocks like limestone.

MUST READ: Buddhist caves, temples in Madhya Pradesh’s Bandhavgarh

SOURCE: THE HINDU

PREVIOUS YEAR QUESTIONS

Q.1) Consider the following pairs: (2022)

Historical place                 Well-known for

1. Burzahom             Rock-cut shrines
2. Chandraketugarh Terracotta art
3. Ganeshwar             Copper artefacts

Which of the pairs given above is/are correctly matched?

1. 1 only
2. 1 and 2
3. 3 only
4. 2 and 3

Q.2) Which one of the following statements is correct? (2022)

1. Ajanta Caves lie in the gorge of the Waghora River.
2. Sanchi Stupa lies in the gorge of the Chambal River.
3. Pandu – Lena cave shrines lie in the gorge of the Narmada River.
4. Amaravati Stupa lies in the gorge of the Godavari River.

Syllabus

• Prelims –ECONOMY/ GOVERNANCE

Context: Recently, over 37, 000 victims of chit fund scams got Rs 30 crore back in Chhattisgarh.

Background:-

• With police help, district administrations across Chhattisgarh have recovered and returned Rs 30 crore that 37,000 investors had been defrauded of by chit funds, according to government officials.
• From 2015 to 2017, over 1 lakh such investors were cheated out of hundreds of crores of rupees in the state.

About chit fund:-

• A chit fund is a close-ended group lending scheme.
• It is called ‘Chit Fund’ as a piece of paper is used for writing a bid amount, known as a chit.
• It refers to an agreement arrived at by a group of individuals to invest a certain amount through periodic installments over a specified period of time.
• It doesn’t fall under the jurisdiction of the RBI but is a legal entity, registered with and regulated by, the state governments under the Chit Funds Act of 1982. (RBI’s contingency fund)

Regulations:-

• At present chit reserves are represented by Chit Funds Act of 1962, Reserve Bank of India (RBI) Act of 1934, and Securities & Exchange Bond of India (SEBI) Act of 1992 etc.
• Businesses can only be registered and regulated by the respective state governments under the Chit Fund Act of 1962.
• The Registrar of Chits is the person appointed by the state governments in accordance with Section 61 of the Chit Funds Act as the regulator of chit funds.
• Chit reserves are included in the definition of Non-Banking Financial Companies (NBFCs).
• RBI, in any case, has not spread out any different administrative system for them.

Benefits of Chit Fund:-

• It can be a good way to get money that one might not have access to otherwise is through a chit fund scheme.
• They can assist with debt repayment and provide household financial assistance, among other things.
• In the event that one wishes to put resources into a chit-store conspiracy, there is no necessity for security.
• Savings and credit plans are combined in chit funds. Members can save money while still having access to credit when they need it.
• Chit funds allow members to earn returns on their contributions.

MUST READ: Alternate Investment Fund and Credit Default Swap

SOURCE: THE INDIAN EXPRESS

PREVIOUS YEAR QUESTIONS

Q.1) Consider the following statements : (2023)

Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InviTs) distributed to their investors is exempted from tax, but the dividend is taxable.

Statement-II: InviTs are recognized as borrowers under the ‘Securitization and Reconstruction of Financial Assets and·Enforcement of the Security Interest Act, 2002’.

Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-11 is the correct explanation for Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation forStatement-I
3. Statement-I is correct but Statement-II is incorrect
4. Statement-I is incorrect but Statement-II is correct

Q.2) In India, which one of the following is responsible for maintaining price stability by controlling inflation? (2022)

1. Department of Consumer Affairs
2. Expenditure Management Commission
3. Financial Stability and Development Council
4. Reserve Bank of India

Syllabus

• Prelims –ART AND CULTURE

Context: Recently, the now-abandoned part of Yogmaya Temple was explored as a a testament to Delhi’s syncretic roots.

Background:-

• From a Mughal-sponsored structure to a concrete building, the Yogmaya Temple in Mehrauli is a historically important monument believed to be standing at the site of an ancient temple that is said to have come up during the period of the Mahabharata but of which no trace exists anymore.

About Yogmaya Temple:-

• Location: Mehrauli, Delhi.
• Built: between 1806 and 1837. (Khajuraho temples)
• Constructed by: Lala Sidhu Mal.
  • He was noble in the court of Mughal Emperor Akbar II .
• The area was known as Yoginipura in ancient Jain texts .
• Prithviraj Chauhan himself was said to have patronised a Yogini temple here shortly before his city’s destruction.
• It Houses a replica of the Goddess Yogmaya, also known as the “Pure Goddess.”
• The main idol, made of black stone and adorned with sequins and cloth, represents Yogmaya.
• The goddess Yogmaya, believed to be the sister of Lord Krishna and an incarnation of Durga.
• The temple’s origins are traced back to the Mahabharata era, believed to have been built by the Pandavas after the end of the epic war.
• The temple was among the 27 temples reportedly destroyed by Mamluk rulers.
• Hindu king Samrat Vikramaditya Hemu is credited with restoring the temple after its destruction by Islamic rulers.
• Unique Festival ‘Phoolwalon ki Sair.’ is celebrated.

Significance:-

• It symbolizes unity amid diverse communities.
• It is Integral to Delhi’s historical and cultural heritage.

MUST READ: Hoysala Temples

SOURCE: THE INDIAN EXPRESS

PREVIOUS YEAR QUESTIONS

Q.1) The Prime Minister recently inaugurated the new Circuit House near Somnath Temple Veraval. Which of the following statements are correct regarding Somnath Temple? (2022)

1. Somnath Temple is one of the Jyotirlinga shrines.
2. A description of the Somnath Temple was given by Al-Biruni.
3. Pran Pratishtha of Somnath Temple (installation of the present-day temple) was done by President S. Radhakrishnan.

Select the correct answer using the code given below:

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1,2 and 3

Q.2) With reference  to Chausath Yogini Temple situated near Morena, consider the following statements: (2021)

1. It is a circular temple built during the reign of the Kachchhapaghata Dynasty.
2. It is the only circular temple built in India.
3. It was meant to promote the Vaishnava cult in the region.
4. Its design has given rise to a popular belief that it was the inspiration behind the Indian Parliament building.

Which of the statements given above is correct?

1. 1 and 2
2. 2 and 3 only
3. 1 and 4
4. 2, 3 and 4

Syllabus

• Prelims – ENVIRONMENT AND ECOLOGY

Context: Recently, World’s Tiniest Fanged Frog Species Found Lurking in The Indonesian Jungle.

Background:-

• The lush, volcanic hills of Sulawesi in Indonesia are home to several species of fanged frogs with unusual reproductive habits, including Limnonectes larvaepartus – the only species of frog in the world known to give birth to live tadpoles.

About Fanged Frog Species:-

• Scientific Name: Limnonectes phyllofolia.
• It belongs to the genus Limnonectes, comprising around 75 species.
• Distinctive Features: Notable for fang-like structures, which are projections of their jaw bone.
• Distribution: East and Southeast Asia.
• It is the smallest species among fanged frogs.
• Adults are brown in color.
• It uses fangs in battles for territory and mates.
• It employ fangs to capture tough-shelled prey like giant centipedes and crabs.
• Many species in this genus are giants, with some weighing up to two pounds.
• It earned the nickname “leaf-nester” as they do not lay eggs in water instead, they make nests on tree leaves or moss-covered boulders away from water, with males guarding the eggs.

MUST READ: Jerdon’s narrow-mouthed frog (Uperodon montanus)

SOURCE: SCIENCE ALERT

PREVIOUS YEAR QUESTIONS

Q.1) Certain species of which one of the following organisms are well known as cultivators of fungi? (2022)

1. Ant
2. Cockroach
3. Crab
4. Spider

Q.2) Consider the following animals  (2021)

1. Hedgehog
2. Marmot
3. Pangolin

To reduce the chance of being captured by predators, which of the above organisms rolls up/roll up and protects/protects its/their vulnerable parts?

1. 1 and 2 only
2. 2 only
3. 3 only
4. 1 and 3

Syllabus

• Prelims – GOVERNANCE

Context: Recently, Union Minister of Road Transport and Highways Nitin Gadkari revealed that Bhoomi Rashi Portal is revolutionizing land acquisition for Highway projects.

Background:-

• Nitin Gadkari revealed in a recent statement to the Rajya Sabha that the Bhoomi Rashi portal is instrumental in expediting the development of highway infrastructure in India.

About Bhoomi Rashi Portal:-

• Launched: 2018.
• Ministry: Ministry of Road Transport and Highways.
• Objectives : to accelerate highway infrastructure development projects in India.
• Bhoomi Rashi as a single point platform for online processing of land acquisition notifications .
• The portal functions as a centralized platform where Land Acquisition notifications are submitted online by designated revenue officials of the state government, known as the Competent Authority for Land Acquisition (CALA).
• Once approved by the Ministry of Road Transport and Highways, these notifications are electronically transmitted to the Government of India Press via the e-Gazette.
• The portal is also integrated with the Public Financial Management System (PFMS) for depositing the compensation in the account of affected/ interested persons on a real-time basis.

Features of Bhoomi Rashi:-

• Bilingual application with Hindi and English for easy usability
• Preparation of interface for adding project basic details including LA sanction details.
• Preparation of interface for Land Acquisition locations i.e. villages
• Preparation of Interface for CALA details
• Interface for generating LA notification
• Interface for Land Details
• Interface for generation of 3a, 3A & 3D notification: organizational email IDS for all those involved in the process flow to ensure smooth e-office management
• Interface for Objections and processing
• Interface for compensation determination and finalization
• Generation of web service for getting payment status and beneficiary validation from Public Financial Management System (PFMS) platform of the Ministry of Finance
• Interface for Land owners and affected parties
• Interface for reports generation

Significance:-

• The portal has expedited significantly the process of land acquisition for National Highways, making it error-free & more transparent with notifications at every stage being processed on a real-time basis.

MUST READ: Small savings schemes

SOURCE: FINANCIAL EXPRESS

 PREVIOUS YEAR QUESTIONS

Q.1) Consider the following statements in the context of interventions being undertaken under the Anaemia Mukt Bharat Strategy: (2023)

1. It provides prophylactic calcium supplementation for preschool children, adolescents, and pregnant women.
2. It runs a campaign for delayed cord clamping at the time of childbirth.
3. It provides for periodic deworming to children and adolescents.
4. It addresses non-nutritional causes of anemia in endemic pockets with a special focus on malaria, hemoglobinopathies, and fluorosis.

How many of the statements given above are correct?

1. Only one
2. Only two
3. Only three
4. All four

Q.2) Consider the following markets : (2023)

1. Government Bond Market
2. Call Money Market
3. Treasury Bill Market
4. Stock Market

How many of the above are included in capital markets?

1. Only one
2. Only two
3. Only three
4. All four

Q1) Consider the following pairs:

How many of the above pairs are correctly matched?

1. Only one
2. Only two
3. All three
4. None

Q2) Consider the following statements

Statement-I :

A chit fund is not a legal entity.

Statement-II :

It doesn’t fall under the jurisdiction of the RBI.

Which one of the following is correct in respect of the above statements?

1. Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
2. Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
3. Statement-I is correct but Statement II is incorrect
4. Statement-I is incorrect but Statement II is correct

Q3) With reference to the Yogmaya Temple , consider the following statements:

1. It was built between 1806 and 1837.
2. It was constructed by Lala Sidhu Mal.
3. The goddess Yogmaya, believed to be the sister of Lord Krishna and an incarnation of Durga.

How many of the statements given above is/are correct?

1. 2 only
2. 1, 2 and 3 only
3. 1 and 3 only
4. 3 only

Comment the answers to the above questions in the comment section below!!

ANSWERS FOR ’  23rd December 2023 – Daily Practice MCQs’ will be updated along with tomorrow’s Daily Current Affairs.st

Q.1) – b

Q.2) – d

Q.3) – a