UPSC EXAM QUIZ 04.07.2024

Explanation:

• Indian government bonds formally became part of JPMorgan's Government Bond Index-Emerging Markets (GBI-EM). It is the most widely referenced index for emerging market bonds.

JP Morgan Emerging Market Bond Index

• US-based investment bank JPMorgan Chase & Co. is one of the leading global bond index providers.
• JPMorgan offers a number of indices for various asset classes including developed and emerging markets and credit indices.
• The JPMorgan Emerging Market Bond Index (EMBI) was launched in the early 1990s. It is the most widely referenced index for emerging market bonds.

Explanation:

• UGC-NET exam has been cancelled due to the allegations of paper leak in NEET-UG exam, while CSIR-NET and NEET-PG exams have been postponed.
• To deal with such situations, various experts have opined in favour of including education in the state list.

Historical background

Federal structure during British rule

• The Government of India Act, 1935 during British rule laid the foundation of federal structure in Indian politics.
• Legislative subjects were distributed between the federal legislature (present Union) and the provinces (present State). Education, which is an important public subject, was placed in the provincial list.

Post-independence scenario

• Although this continued even after independence and education, under the Seventh Schedule of the Constitution, was part of the 'State List' subject to distribution of powers. This means that individual states have the primary responsibility for managing their education system.

Explanation:

• Reserve Bank of India (RBI) has decided to introduce a revised framework for currency swaps in respect of SAARC (South Asian Association for Regional Cooperation) countries for the period 2024 to 2027.

Currency Swap Framework

• Currency swap is an agreement or contract between two countries for the exchange of currencies on pre-determined terms and conditions in order to maintain liquidity.
• Central banks and governments exchange currencies with foreign counterparts to meet short-term foreign exchange liquidity requirements or to ensure adequate foreign exchange to avoid a balance of payments crisis.
• There is no risk of exchange rate or other market risks in these swap agreements as the terms of the transaction are determined in advance.

Explanation:

• The next phase of the conservation of the Great Indian Bustard (GIB) and Lesser Florican has been approved by the Ministry of Environment, Forest and Climate Change (MoEFCC).
• The government has allocated 56 crore for this next phase of the conservation plan.
• The plan includes habitat development, in-situ conservation, the completion of the conservation breeding centre, and releasing captive-bred birds.
• The conservation programme for critically endangered GIB and Lesser Florican has been running since 2016.
• As of now, around 140 GIBs and fewer than 1,000 Lesser Floricans are surviving in the wild.
• The Wildlife Institute of India will estimate the GIB population in Jaisalmer and in other states.
• The 2024–2029 phase will also target the development and implementation of artificial insemination techniques.
• Artificial insemination will help with genetic management and diversity.
• The bustard recovery project was started in 2016 and in July 2018, a tripartite agreement was signed between the MoEFCC, Rajasthan Forest Department and WII.

Explanation:

• General Upendra Dwivedi took charge from General Manoj Pande.
• Dwivedi was commissioned into 18 Jammu and Kashmir Rifles in 1984.
• He took over as the army’s vice chief in February 2024.
• He served as the Northern Army commander for two years.
• His overseas exposure includes tenures in Somalia and Seychelles.
• Lt. Gen. N. S. Raja Subramani is set to take over as the Vice Chief of Army Staff.
• He is the General Officer Commanding-in-Chief Central Command.
• Lt. Gen. Anindya Sengupta is set to take over from him as the Central Army Commander.