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Daily Current Affairs
8 May, 2025
1. Which two genome-edited rice varieties were recently opposed by the Coalition for GM-Free India?
A) IR64 and Swarna
B) Kamala (DRR Dhan 100) and Pusa DST Rice 1
C) Basmati 370 and Sona Masuri
D) MTU1010 and Jaya
E) IR8 and IR36
Answer: B) Kamala (DRR Dhan 100) and Pusa DST Rice 1
Explanation: The Coalition for GM-Free India opposed the release of two genome-edited rice varieties: Kamala (DRR Dhan 100) developed by the Indian Institute of Rice Research, Hyderabad, and Pusa DST Rice 1 developed by the Indian Agricultural Research Institute, Delhi.
2. What is the primary concern of the Coalition for GM-Free India regarding genome-edited crops?
A) Lack of international patents
B) High cost of cultivation
C) Potential health and environmental risks
D) Low yield compared to traditional varieties
E) Resistance to pests
Answer: C) Potential health and environmental risks
Explanation: The coalition warns that genome-edited seeds may harm human health and cause irreversible environmental damage, citing a significant body of scientific literature questioning the safety of gene-editing techniques.
3. Under which act does the Coalition for GM-Free India claim the deregulation of SDN-1 and SDN-2 techniques is illegal?
A) Seeds Act, 1966
B) Environment Protection Act, 1986
C) Biological Diversity Act, 2002
D) Food Safety and Standards Act, 2006
E) Insecticides Act, 1968
Answer: C) Biological Diversity Act, 2002
Explanation: The coalition claims that the announcement of genome-edited varieties is illegal, citing the deregulation of SDN-1 and SDN-2 gene-editing techniques without safety tests, which they argue violates provisions of the Biological Diversity Act, 2002.
4. Which bank’s microfinance accounting discrepancy led to a ₹600 crore misstatement?
A) HDFC Bank
B) ICICI Bank
C) IndusInd Bank
D) Axis Bank
E) Kotak Mahindra Bank
Answer: C) IndusInd Bank
Explanation: Statutory auditors flagged a ₹600 crore discrepancy in IndusInd Bank’s microfinance income due to grouping interest income for multiple loans without borrower-level detail.
5. Which firm was engaged by IndusInd Bank to assist in the forensic review of its microfinance business?
A) Deloitte
B) KPMG
C) Ernst & Young (EY)
D) PricewaterhouseCoopers (PwC)
E) Grant Thornton
Answer: C) Ernst & Young (EY)
Explanation: IndusInd Bank engaged Ernst & Young (EY) to assist in the forensic review, including verifying portfolio health, assessing accounting practices, and recommending corrective actions.
6. What percentage of IndusInd Bank’s loan book does microfinance constitute as of December 2024?
A) 5%
B) 7%
C) 9%
D) 11%
E) 13%
Answer: C) 9%
Explanation: Microfinance constitutes 9% of IndusInd Bank’s loan book, with a portfolio size of ₹32,564 crore as of December 31, 2024.
7. Which act recognizes 13 rights, including biodiversity access and community forest management, for Indigenous Peoples and Local Communities (IPLCs) in India?
A) Wildlife Protection Act, 1972
B) Forest Conservation Act, 1980
C) Forest Rights Act, 2006
D) Environmental Protection Act, 1986
E) Biological Diversity Act, 2002
Answer: C) Forest Rights Act, 2006
Explanation: The Forest Rights Act (FRA) 2006 recognizes 13 rights for IPLCs, including access to biodiversity and community forest management.
8. What is the main criticism of the Biological Diversity Act (BDA) 2002 in the context of conservation?
A) It promotes excessive industrialization
B) It lacks provisions for wildlife protection
C) It imposes a top-down approach limiting local participation
D) It encourages deforestation
E) It neglects marine biodiversity
Answer: C) It imposes a top-down approach limiting local participation
Explanation: The BDA 2002 is criticized for its top-down approach, which limits the participation of local communities in biodiversity conservation efforts.
9. What international framework created a permanent platform for IPLCs during COP-16 in 2025?
A) Paris Agreement
B) Kyoto Protocol
C) Kunming-Montreal Global Biodiversity Framework
D) UN Framework Convention on Climate Change
E) Convention on International Trade in Endangered Species
Answer: C) Kunming-Montreal Global Biodiversity Framework
Explanation: The Kunming-Montreal Global Biodiversity Framework, under the UN Convention on Biological Diversity, established a permanent platform for IPLCs during COP-16 in 2025.
10. What are OECMs, as mentioned in the context of India’s conservation efforts?
A) Official Environmental Conservation Measures
B) Other Effective Area-Based Conservation Measures
C) Organized Ecological Community Management Systems
D) Operational Environmental Control Mechanisms
E) Overarching Ecosystem Conservation Models
Answer: B) Other Effective Area-Based Conservation Measures
Explanation: OECMs refer to “Other Effective Area-Based Conservation Measures,” which are conservation efforts outside of protected areas that contribute to biodiversity conservation. India plans to notify guidelines for OECMs integrating them with gram sabha systems under the FRA.