November 15th
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Question 1 of 5
1. Question
With reference to OPEC+, consider the following statements:
1.OPEC+ was established in 2016 after a dramatic fall in oil prices.
2.OPEC+ includes both OPEC member countries and non-OPEC oil-producing nations.
3.The United States is a key member of OPEC+ due to its significant oil production.
How many of the statements given above are correct?Correct
Solution
Statement 1 is correct—>OPEC+ was formed in 2016 as a response to a significant decline in oil prices to stabilize the market. Statement 2 is correct—>OPEC+ includes the original OPEC members (e.g., Saudi Arabia, Iraq) and non-OPEC oil-producing countries (e.g., Russia, Kazakhstan). Statement 3 is incorrect—>The United States is not a member of OPEC+ despite being one of the largest oil producers globally. It operates independently of the OPEC+ framework. Incorrect
Solution
Statement 1 is correct—>OPEC+ was formed in 2016 as a response to a significant decline in oil prices to stabilize the market. Statement 2 is correct—>OPEC+ includes the original OPEC members (e.g., Saudi Arabia, Iraq) and non-OPEC oil-producing countries (e.g., Russia, Kazakhstan). Statement 3 is incorrect—>The United States is not a member of OPEC+ despite being one of the largest oil producers globally. It operates independently of the OPEC+ framework. -
Question 2 of 5
2. Question
With reference to Birsa Munda, consider the following statements:
1.He led the Ulgulan movement against British colonial rule and the oppressive practices of landlords.
2.His efforts led to the enactment of the Chotanagpur Tenancy Act, 1908, which prohibited the transfer of tribal lands to non-tribals.
3.The Indian government declared November 15, his birth anniversary, as ‘Janjatiya Gaurav Divas.’
How many of the statements given above are correct?Correct
Solution
Statement 1 is correct—>Birsa Munda led the Ulgulan (The Great Rebellion) against British rule and the exploitative practices of landlords, aiming to restore tribal self-rule. Statement 2 is correct—>His rebellion played a key role in influencing the British to enact the Chotanagpur Tenancy Act, 1908, which safeguarded tribal lands. Statement 3 is correct—>In 2021, the Indian government declared November 15, his birth anniversary, as ‘Janjatiya Gaurav Divas’ to honor tribal independence fighters. Incorrect
Solution
Statement 1 is correct—>Birsa Munda led the Ulgulan (The Great Rebellion) against British rule and the exploitative practices of landlords, aiming to restore tribal self-rule. Statement 2 is correct—>His rebellion played a key role in influencing the British to enact the Chotanagpur Tenancy Act, 1908, which safeguarded tribal lands. Statement 3 is correct—>In 2021, the Indian government declared November 15, his birth anniversary, as ‘Janjatiya Gaurav Divas’ to honor tribal independence fighters. -
Question 3 of 5
3. Question
With reference to Foreign Portfolio Investment (FPI) in India, consider the following statements:
1.FPI investors are required to hold less than 10% of the total paid-up equity capital of an Indian company
2.The Securities and Exchange Board of India (SEBI) regulates FPI activities in India.
3.The reclassification of FPI investments exceeding the 10% threshold as FDI requires approval from the Reserve Bank of India (RBI).
4.The United States accounts for the highest share of Foreign Portfolio Investors (FPIs) investing in India during the fiscal year 2023-24.
How many of the statements given above are correct?Correct
Solution
Statement 1 is correct—>FPI investors are required to hold less than 10% of the total paid-up equity capital of an Indian company Statement 2 is correct—>FPI activities in India are regulated by SEBI under the SEBI (Foreign Portfolio Investors) Regulations, 2019. Statement 3 is incorrect—> The reclassification of FPI investments exceeding the 10% threshold as FDI requires necessary government approvals, including those required in case of investment from land-bordering countries. The Reserve Bank of India (RBI) has issued an operational framework for this reclassification, but the approval process involves multiple government agencies. Statement 4 is correct—>The United States accounts for the highest share of Foreign Portfolio Investors (FPIs) investing in India during the fiscal year 2023-24. Incorrect
Solution
Statement 1 is correct—>FPI investors are required to hold less than 10% of the total paid-up equity capital of an Indian company Statement 2 is correct—>FPI activities in India are regulated by SEBI under the SEBI (Foreign Portfolio Investors) Regulations, 2019. Statement 3 is incorrect—> The reclassification of FPI investments exceeding the 10% threshold as FDI requires necessary government approvals, including those required in case of investment from land-bordering countries. The Reserve Bank of India (RBI) has issued an operational framework for this reclassification, but the approval process involves multiple government agencies. Statement 4 is correct—>The United States accounts for the highest share of Foreign Portfolio Investors (FPIs) investing in India during the fiscal year 2023-24. -
Question 4 of 5
4. Question
With reference to Maharaja Ranjit Singh, consider the following statements:
1. In 1799, Ranjit Singh established a unified Sikh empire after conquering Lahore.
2. He commissioned the gold plating of the Harmandir Sahib in Amritsar.
3. He belonged to the Sukerchakia misl.
How many of the statements given above are correct?Correct
Solution
Statement 1 is correct—>In 1799, Ranjit Singh established a unified Sikh empire after conquering Lahore. He overthrew powerful chieftains who had divided the territory into Misls. He was given the title Lion of Punjab (Sher-e-Punjab) because he stemmed the tide of Afghan invaders in Lahore, which remained his capital until his death. Statement 3 is correct—>He rebuilt the Harmandir Sahib, the Golden Temple, at Amritsar in marble (1809) and gold (1830) Statement 3 is correct—>He belonged to the Sukerchakia misl. Incorrect
Solution
Statement 1 is correct—>In 1799, Ranjit Singh established a unified Sikh empire after conquering Lahore. He overthrew powerful chieftains who had divided the territory into Misls. He was given the title Lion of Punjab (Sher-e-Punjab) because he stemmed the tide of Afghan invaders in Lahore, which remained his capital until his death. Statement 3 is correct—>He rebuilt the Harmandir Sahib, the Golden Temple, at Amritsar in marble (1809) and gold (1830) Statement 3 is correct—>He belonged to the Sukerchakia misl. -
Question 5 of 5
5. Question
State of Karnataka v Shri Ranganatha Reddy (1977), seen in the news is related to:
Correct
Solution
State of Karnataka v Shri Ranganatha Reddy (1977) is related to nationalization of private property. Incorrect
Solution
State of Karnataka v Shri Ranganatha Reddy (1977) is related to nationalization of private property.