Daily Quiz

Solution (d)
Explanation:
• The African Union (AU) is a continental organization consisting of 55 member states, representing all the countries on the African continent.
• The African Union was officially launched in Durban, South Africa, in July 2002. It replaced the Organisation of African Unity (OAU).
• The African Union (AU) was established as the successor to the Organisation of African Unity (OAU), which was founded in 1963 to promote unity and cooperation among African countries.
• While the African Union Commission (AUC) plays a significant role in implementing the AU’s policies, the AU works through various other organs and institutions such as the Pan-African Parliament, African Court on Human and Peoples’ Rights, and the Peace and Security Council. (Option (d) is incorrect)
• The African Union’s headquarters is in Addis Ababa, Ethiopia. The AU addresses issues such as human rights, governance, and development across the continent.

Source: https://www.thehindu.com/opinion/lead/dealings-at-a-china-africa-forum-that-india-must-track/article68597864.ece

Solution (a)

Explanation:

• The Unified Lending Interface (ULI) is a platform introduced by the Reserve Bank Innovation Hub to facilitate seamless, consent-based, and digitised data transfer from multiple sources (such as financial records and land records) to lenders. It simplifies the lending process, especially for farmers and MSMEs, by reducing time and complexity in credit appraisal. (Option (a) is correct)
• This option refers to a technology framework for maintaining internal records in banks, which is more in line with a core banking system (CBS) rather than the ULI, which focuses on external data flow and integration for lending purposes. (Option (b) is incorrect)
• This option describes a system for managing non-performing assets (NPAs) and defaulters, which is unrelated to ULI. Such a system would be more aligned with credit monitoring mechanisms like the Credit Information Bureau or asset reconstruction platforms. (Option (c) is incorrect)
• This option describes a standardisation initiative for KYC compliance, which is not the function of ULI. KYC processes are typically handled through platforms like CKYC (Central KYC), while ULI is focused on simplifying credit access by integrating data from multiple sources. (Option (d) is incorrect)

Source: https://www.thehindu.com/business/Economy/what-is-the-unified-lending-interface-by-the-rbi-explained/article68598373.ece#:~:text=ULI%20is%20a%20platform%20that,Rajesh%20Bansal%2C%20CEO%2C%20Reserve%20Bank

Solution (d)

Explanation:

• Reactive agents are first-generation AI agents that respond to specific inputs or commands but cannot learn or adapt.
• Learning agents use machine learning to learn from experience, improving their performance over time.
• Cognitive agents are advanced AI agents can reason, adapt, plan, and make decisions based on algorithms and acquired knowledge.
• Autonomous agents: While AI agents may perform tasks autonomously, “Autonomous agents” is not a distinct category. Cognitive agents have autonomy, but autonomy alone doesn’t define a separate agent category. (Option (d) is correct)

Source: https://www.thehindu.com/sci-tech/technology/do-ai-agents-foretell-the-next-wave-of-autonomy-or-liability/article68598314.ece#:~:text=The%20next%2Dgeneration%20AI%20assistants,without%20instructions%20or%20user%20intervention

Solution (a)

Explanation:

• The Disaster Management (Amendment) Bill provides statutory status to pre-existing organisations like the National Crisis Management Committee, which was established before the Disaster Management Act of 2005. The amendment formalises their roles and responsibilities. (Statement 1 is correct)
• The Bill proposes the establishment of an Urban Disaster Management Authority not only for state capitals but also for cities with municipal corporations, expanding beyond state capitals. (Statement 2 is correct)
• The amendment bill dilutes the wording of the National Disaster Response Fund (NDRF) by removing specific purposes for which the fund shall be used, potentially weakening the fund’s effectiveness. (Statement 3 is correct)

Source: https://www.thehindu.com/opinion/op-ed/the-disaster-management-amendment-bill-is-knotty/article68597815.ece

Solution (b)

Explanation:

• REITs pool funds from multiple investors to invest in commercial properties such as offices, malls, and warehouses, which generate income through rent or capital appreciation. (Statement 1 is correct)
• REITs are required by regulation to distribute a significant portion of their income (90% or more) to investors, which makes them attractive for consistent dividend payouts. (Statement 2 is correct)
• In India, REITs are regulated by the Securities and Exchange Board of India (SEBI), ensuring investor protection and transparency in operations. (Statement 3 is incorrect)

Source: https://indianexpress.com/article/business/market/if-i-utter-the-word-reits-i-will-be-accused-of-conflict-of-interest-sebi-chairperson-buch-9546905/