UPSC Current Affairs Quiz : 3 April 2025

Q 1 . Consider the following statements regarding the National Payments Corporation of India .

1.It is the organization that manages retail payments in India.

2.it is Established in 2008 by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA).

 Which of the statements given above is/are correct?

a.  1 only

b.  2 only

c.  Both 1 and 2

d.  Neither 1 nor 2

 

Q 2 Which of the following is NOT a function of the Reserve Bank of India (RBI)?

a) Issuing currency notes

b) Acting as the banker to the government

c) Regulating the money supply

d) Collecting income tax

 

Q 3.What is the main objective of the Goods and Services Tax (GST) in India?

a) To increase the tax burden on consumers

b) To simplify the indirect tax structure

c) To promote exports

d) To encourage state-level taxes

 

Q 4.The concept of "Mixed Economy" in India implies the coexistence of:

a) Large-scale and small-scale industries

b) Public sector and private sector

c) Domestic and foreign investment

d) Agriculture and industry

 

Q 5. What does the term "fiscal deficit" refer to?

a) Excess of government revenue over total expenditure

b) Excess of total expenditure over total revenue

c) Difference between revenue receipts and revenue expenditure

d) Difference between capital receipts and capital expenditure

 

Q 6 .The President of India is elected by an electoral college comprising of:

a) Only the elected members of Lok Sabha and Rajya Sabha.

b) Only the elected members of State Legislative Assemblies.

c) Elected members of both Houses of Parliament and elected members of the Legislative Assemblies of the States.

d) All members of Parliament and State Legislative Assemblies.

 

Q 7.Which of the following writs can be issued by the High Court or the Supreme Court to secure the release of a person unlawfully detained?

a) Habeas Corpus

b) Mandamus

c) Prohibition

d) Certiorari

 

Q 8 .The idea of a "Union of States" in the Indian Constitution implies that:

a) States have the right to secede from the Union.

b) The federation is indestructible and states cannot secede.

c) There is an agreement between the states to form the Union.

d) The central government has limited powers over the states.Q 9.Consider the following statements regarding

 

Q 9.The Anti-Defection Law is contained in which schedule of the Indian Constitution?

a) Eighth Schedule

b) Ninth Schedule

c) Tenth Schedule

d) Eleventh Schedule

Q 10 .Who is the ex-officio chairman of the Rajya Sabha?

a) The President of India

b) The Vice-President of India

c) The Prime Minister of India

d) The Speaker of the Lok Sabha

ans & explanation :

1.c

The National Payments Corporation of India (NPCI) is an umbrella organization that operates retail payments and settlement systems in India.

It was established in 2008 by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007. ² NPCI is a "not for profit" company under Section 8 of the Companies Act 2013.   

2.d

The Reserve Bank of India (RBI) is the central bank of India, established in 1935. It plays a crucial role in the Indian economy with a wide range of functions aimed at ensuring monetary stability, financial stability, and the smooth operation of the country's financial system.  

3.b

The main objective of the Goods and Services Tax (GST) in India is to create a unified and simplified indirect tax system across the country.

4.b

A "Mixed Economy" in India refers to an economic system that combines elements of both capitalism and socialism. In this model, both the private sector and the public sector play significant roles in the ownership, allocation, and control of resources. 

5.c

The fiscal deficit represents the shortfall in a government's revenue compared to its total expenditure over a specific period, usually a fiscal year. It indicates the amount of borrowing the government needs to finance its spending when its income from taxes and other sources falls short. Borrowings are excluded from the calculation of total receipts when determining the fiscal deficit.

6.c

The electoral college consists of:Elected members of both Houses of Parliament (Lok Sabha and Rajya Sabha).Elected members of the Legislative Assemblies of all states.   Elected members of the Legislative Assemblies of the Union Territories of Delhi and Puducherry.

7.a

Habeas Corpus is a legal term derived from Latin, meaning "you shall have the body." It is a fundamental legal principle and a crucial writ (a formal written order issued by a body with administrative or judicial jurisdiction) in many common law legal systems, including India.

8.b

The phrase "Union of States" as used in Article 1 of the Indian Constitution has profound implications and underscores the fundamental nature of the Indian republic. 

9.c

The Anti-Defection Law in India, formally known as the Tenth Schedule of the Indian Constitution, was enacted in 1985 through the 52nd Amendment. It aims to prevent political defections by elected Members of Parliament (MPs) and State Legislative Assemblies (MLAs) from one political party to another.   

10.b

According to the Indian Constitution, the Vice President of India is the ex-officio Chairman of the Rajya Sabha.  

"Ex-officio" means that someone holds a particular office or position by virtue of holding another office or position. In this case, the individual is  Therefore, the Vice President of India is the ex-officio Chairman of the Rajya Sabha.  

As of today, April 5, 2025, the Chairman of the Rajya Sabha is Shri Jagdeep Dhankhar, who is the current Vice President of India.