Question 13: Consider the following statements with respect to Mission LiFe:

1. The idea of Life was introduced by India during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow in 2021.
2. Mission Life is a global initiative by India to help the world in its fight against climate change and lead to a sustainable way of life to achieve the sustainable development goals set by the U.N.

Which of the following statements is/are true?

1. 1 only
2. 2 only
3. 1 and 2 only
4. Neither 1 nor 2

Correct Answer: C

Explanation

• Mission Life is a global initiative by India to help the world in its fight against climate change and lead to a sustainable way of life to achieve the sustainable development goals set by the U.N.
• The idea of Life was introduced by India during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow in 2021. The idea promotes an environmentally conscious lifestyle that focuses on ‘mindful and deliberate utilization’ instead of ‘mindless and wasteful consumption.

Mission Life aims at following a three-pronged strategy for changing our collective approach toward sustainability.

• First is by nudging individuals to practice simple yet effective environment-friendly actions in their daily lives (demand).
• Second is by enabling industries and markets to respond swiftly to the changing demand (supply) and.
• The third is to influence government and industrial policy to support both sustainable consumption and production (policy).

Question 14: Consider the following statements with respect to Price stabilization fund (PSF):

1. The PSF scheme works under the Department of Agriculture, Cooperation & Famers Welfare.
2. Small Farmers Agribusiness Consortium (SFAC), a society for linking agriculture to private enterprises, investment, and technology, maintains the PSF as a central corpus fund.

Which of the following statements is/are true?

1. 1 only
2. 2 only
3. 1 and 2 only
4. Neither 1 nor 2

Correct Answer: B

Explanation

• PSF was set up in 2014-15 under the Department of Agriculture, Cooperation & Famers Welfare (DAC&FW). In 2016, the PSF scheme was transferred to the Department of Consumer Affairs from the DAC&FW. The scheme provides for: Maintaining a strategic buffer of commodities such as pulses, onion and potato for subsequent calibrated release. This would moderate price volatility. Discourage hoarding and speculation.
• The PSF scheme provides for the advancement of interest-free loans to State Governments/Union Territories (UTs) and Central Agencies to finance their working capital and other expenses, which they may incur in the procurement and distribution of such commodities.
• Small Farmers Agribusiness Consortium (SFAC), a society promoted by the Ministry of Agriculture and Farmers’ Welfare for linking agriculture to private enterprises, investment, and technology, maintains the PSF as a central corpus fund.

Question 15: Consider the following statements with respect to Neo banks:

1. Neo banks don’t have physical branches
2. They don’t have banking licenses and are not regulated by the RBI.

Which of the following statements is/are true?

1. 1 only
2. 2 only
3. 1 and 2 only
4. Neither 1 nor 2

Correct Answer: C

Explanation

• Neo banks are new-age banks without any physical location, present entirely online. They provide digital, mobile-first financial solutions for payments, money transfers, lending, and more.
• They offer debit cards, investment facilities, and more. They even provide credit and lending services.
• However, most neo banks do not have a banking license and cannot operate stand- alone — most neo banks partner with licensed banks to provide financial services.
• Neo banks don’t have physical branches, which means they’re not spending money on rent, electricity, infrastructure, and other expenses that eat away at a traditional bank’s bottom line.
• Neo banks are not actual banks – they don’t have banking licenses and are not regulated by the RBI. As a result, they enjoy slightly more autonomy than traditional banking institutions.
• These are 100% digital banks. They cannot apply for a banking license. The expertise of these neo banks lies in tying technology and artificial intelligence together to offer personalized financial services to customers. It is offered at a minimal cost.
• Neo banks offer limited products like savings accounts, small loans, debit cards, etc. and not all services of banks.

Question 16: Consider the following statements:

1. The Gaza Strip includes part of the holy city of Jerusalem, known as East Jerusalem.
2. West Bank is bordered by Egypt.

Which of the following statements is/are true?

1. 1 only
2. 2 only
3. 1 and 2 only
4. Neither 1 nor 2

Correct Answer: D

Explanation

• The West Bank has a total land area of 6,220 sq. km. This includes part of the holy city of Jerusalem, known as East Jerusalem. It is bordered by the Hashemite Kingdom of Jordan to the east, and by Israel in all other directions.