Daily Quiz

Solution (c)
Explanation:
• The Eastern Rajasthan Canal Project (ERCP) is an ambitious project aimed at transferring water within the Chambal River basin to ensure water availability for the drought-prone districts of eastern Rajasthan. (Option (c) is correct)
• The ERCP is designed to utilize excess water available during the rainy season in the Chambal River and its tributaries, such as the Kali Sindh and Parvati rivers. The project’s aim is to ensure that the water is supplied to drought-prone areas of eastern Rajasthan.
• The ERCP will cover 13 districts in eastern Rajasthan, including Kota, Bundi, Sawai Madhopur, Alwar, Bharatpur, Ajmer, and others, which are often hit by water shortages due to erratic rainfall patterns.
• It involves an intra-basin transfer of water, meaning the water will be distributed within the Chambal basin. There are no inter-basin transfers proposed for this project.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1942156

Solution (c)

Explanation:

• The New Pension Scheme (NPS) is open to all Indian citizens, including employees from both the public and private sectors. Launched in 2004, the scheme offers a voluntary and long-term retirement plan where participants contribute regularly to their pension account during their working life. (Option (a) is correct)
• For government employees, the government matches the contribution made by the employee. This applies to government employees who joined service after January 1, 2004. Both the employer and employee contribute 10% of the employee’s salary (Basic + DA), which was increased to 14% for the employer’s contribution in 2019. (Option (b) is correct)
• The returns from the NPS are market-linked and are not guaranteed by the government. NPS contributions are invested in various instruments, including equities, government bonds, and corporate bonds, based on the allocation preferences chosen by the subscriber. The performance of these investments depends on market conditions, meaning returns can fluctuate. (Option (c) is incorrect)
• NPS offers subscribers the flexibility to choose between various investment options, including equity (E), corporate debt (C), and government securities (G). The subscriber can decide the proportion of their funds that go into these categories, subject to certain caps (currently, up to 75% in equities). (Option (d) is correct)

Source: https://www.thehindu.com/opinion/op-ed/an-opportunity-to-rethink-indias-pension-system/article68687094.ece

Solution (b)

Explanation:

• The Persian Gulf is located between Iran and the Arabian Peninsula. It is a strategic waterway with major oil shipping routes. Eg: Kish Island (Iran), Sir Abu Nu’ayr (UAE).
• Thitu Island, also known as Pag-asa Island, is part of the Spratly Islands in the South China Sea. It is the largest of the Philippines-administered Spratly Islands and has been a point of geopolitical tension due to overlapping territorial claims by China, the Philippines, Vietnam, and other nations. Eg: Spratly Islands, Paracel Islands, Scarborough Shoal. (Option (b) is correct)
• The Sea of Japan lies between Japan, Korea, and Russia. It has a different geopolitical context. Example of islands: Dokdo/Takeshima Islands (disputed between South Korea and Japan), Ulleungdo (South Korea).
• The Sulu Sea is located to the southwest of the Philippines, between the Philippines and the island of Borneo. Example of islands: Tubbataha Reef, Jolo Island.

Source: https://www.thehindu.com/news/international/storms-brewing-in-east-south-china-seas-explained/article68685920.ece

Solution (c)

Explanation:

• Rabies is caused by the rabies virus, which is primarily transmitted through the saliva of infected animals, typically through bites. Common carriers include dogs, bats, and other mammals. (Statement 1 is correct)
• Rabies is almost universally fatal once the clinical symptoms develop. It affects the central nervous system, leading to brain inflammation and death. Preventive treatment after exposure, but before symptoms appear, is critical. (Statement 2 is correct)
• Rabies can be prevented by administering post-exposure prophylaxis (PEP), which includes rabies vaccination and rabies immunoglobulin if needed. This is effective if given before the onset of symptoms, preventing the virus from causing fatal disease. (Statement 3 is correct)

Source: https://www.thehindu.com/sci-tech/health/world-rabies-day-tracing-the-journey-from-myths-to-modern-medicine/article68684602.ece

Solution (d)

Explanation:

• SWIFT is a member-owned cooperative founded in 1973. It provides a platform for the exchange of financial messages, enabling secure and standardized communication between financial institutions worldwide. (Statement 1 is correct)
• SWIFT is not a payment settlement system itself, but rather a global messaging network that financial institutions use to securely transmit information and instructions related to money transfers and other transactions. (Statement 2 is correct)
• SWIFT assigns a unique SWIFT/BIC (Bank Identifier Code) to each participating institution. This code identifies the financial institution in transactions, ensuring that the messages are securely delivered to the correct institution. (Statement 3 is correct)

Source: https://indianexpress.com/article/explained/explained-economics/challenge-for-oil-psus-how-to-get-900-million-dividends-out-of-russia-9590341/#:~:text=The%20main%20challenge%20in%20repatriating,put%20on%20payment%20channels%2C%20after