UPSC QUIZ 19.04.2024

Explanation:

• According to a report, there has been rapid growth in the credit sector, which has led to the lowest deposit receipts in banks in the year 2023-24, resulting in the loan-deposit ratio becoming quite unbalanced in the last two decades.

Decline in Deposit Receipts/Deposit Crunch

• Indian banks are facing the crisis of cash deposits.
• The loan-deposit ratio is currently at its highest since 2015 at 80%-20%.
• The cash deposit ratio indicates how much of a bank's deposits are being used for loans.

Decline in deposit receipts

• Deposit cash crisis occurs when banks do not have sufficient funds to lend to their customers.
• As a result, there are hurdles in the smooth functioning of businesses, and there are delays in receiving salaries to employees.
• This can disrupt economic stability and the financial system.

Explanation:

• The Asian Development Outlook report of the Asian Development Bank (ADB) was released.
• In this report, a warning has been issued about the depreciation of the Indian currency and the resulting increase in imported inflation.
• In this report of ADB, India's GDP growth rate has been estimated at 7% and 7.2% for the years 2024 and 2025 respectively.
• Also, in this report the inflation rate in India has been estimated at 4.6% and 4.5% for the years 2024 and 2025 respectively.

Imported inflation

• Imported inflation refers to inflation when the increase in the general level of goods and services in a country is due to an increase in the prices or cost prices of imported goods and services.

Explanation:

Since 2000, India has lost 2.33 million hectares of tree cover, which is a six percent decrease, according to data from the Global Forest Watch monitoring project.

Key highlights of report

• India has lost a significant amount of its humid primary forest over the last two decades, according to the Global Forest Watch.
• From 2002 to 2023, the country lost 4,14,000 hectares of forest, making up 18% of its total tree cover loss in the same period.
• The forests in India emitted 51 million tons of carbon dioxide equivalent per year and removed 141 million tons of carbon dioxide equivalent per year between 2001 and 2022.
• This means that the forests in India were able to remove more carbon dioxide from the atmosphere than they produced, making them a net carbon sink of 89.9 million tons per year.

Explanation:

• For the twelfth time, Rashmi Kumari won the national women's carrom title.
• In the 51st National Carrom Championship women's final, Rashmi Kumari defeated K Nagajothi 25-8, 14-20, 25-20.
• Rashmi Kumari is three-time World Champion. For Rashmi, it was a record 12th national women's singles title.
• Rashmi works at the Oil and Natural Gas Corporation (ONGC) as the Chief Manager.
• In the final, K Srinivas defeated S Aditya 25-0, 19-6 to win the men's title.
• For Srinivas, it was his fourth national men's singles championship.
• The Madhya Pradesh Carrom Association hosted the 51st National Carrom Championship.
• The Petroleum Sports Promotion Board and the SYNCO carrom firm sponsored the championship.
• There were 174 ladies and 237 men that participated from 12 institutions and 27 States.

Explanation:

• To promote the global brand of Kasturi Cotton, the Center will set up dedicated testing laboratories in six states.
• The central government is planning to set up dedicated laboratories for testing high-grade cotton in Maharashtra, Tamil Nadu, Haryana, Punjab, Gujarat, and Karnataka.
• It will be set up as part of an effort to establish Indian Kasturi cotton as a global brand.
• The laboratories will be set up in convergence with the Bureau of Indian Standards (BIS) testing facilities, ensuring alignment with national quality standards.
• The aim of setting up this laboratory is that India wants to compete with global cotton brands like Supima and Giza, which are known for their exceptional softness, strength, and durability.
• However, India has taken up branding of its cotton only recently despite being a major producer with the largest area under the crop.
• While Egypt has successfully established its Giza cotton brand internationally with a modest annual production of one million bales.
• The Indian product, Kasturi Cotton India, is produced according to stringent standards, with a strict limit of 2% on waste content to ensure its premium quality and 100% traceability.