Ans: C

Exp:

The Union Cabinet approved the PM-Vidyalaxmi scheme that makes students who get admission in Quality Higher Education Institutions (QHEIs) eligible for a collateral-free and guarantor-free education loan.

• Statement 1 is  correct: Students will be provided a 75% credit guarantee by the central government for loans up to Rs 7.5 lakh. 
  • Students, with an annual family income of up to Rs 8 lakh, who are ineligible for benefits under any other government scholarship or interest subvention schemes, will be provided 3% interest subvention for loan up to Rs 10 lakh during the moratorium period.
• Statement 2 is correct: Quality higher education institutions (QHEIs) will be determined by NIRF rankings. The scheme will be applicable to all institutions, including government and private, in the top 100 in overall and in other domain-specific rankings, state government institutions ranked 101.
• An outlay of ₹ 3,600 Crore has been made during 2024-25 to 2030-31, and 7 lakh fresh students are expected to get the benefit of this interest subvention during the period.

Ans: A

Exp: 

On October 16, a biotechnology company in Massachusetts in the U.S. named Wave Life Sciences made headlines for becoming the first company to treat a genetic condition by editing RNA.

• RNA editing has some advantages over DNA editing, especially on safety and flexibility. 
  • Statement 1 is not correct: DNA editing makes permanent changes to a person’s genome and sometimes this can lead to irreversible errors. On the other hand, RNA editing makes temporary changes, allowing the effects of the edits to fade over time.
• Statement 2 is correct: RNA editing  relies on ADAR enzymes, which occur in the human body and thus present a lower risk of allergic reactions.
• • ADAR stands for adenosine deaminase acting on RNA. 
• It allows scientists to fix mistakes in the mRNA after the cell has synthesized it but before the cell reads it to make the proteins.

Ans: B

Exp:

The Indian government has proposed merging regional rural banks to reduce their number to 28 from 43, which could help these lenders cut costs and shore up their capital base.

• Statement 1 is  correct: Regional Rural Banks (RRBs) were established on recommendations of the Narasimham Working Group (1975).
• Statement 2 is not correct: The area of operation of RRBs is limited to the area notified by the Central Government.
  • Ownership: 50% by the Central Government, 35% by the Sponsor Bank, and 15% by the State Government.
• Regulation: They are Scheduled Commercial Banks (Government Banks) regulated by RBI and supervised by National Bank for Agriculture and Rural Development (NABARD).
• Sources of Funds: They Comprise owned funds, deposits, borrowings from NABARD, Sponsor Banks and other sources, including SIDBI and the National Housing Bank.
• Statement 3 is  correct: RBI has set a Priority Sector Lending (PSL) target of 75% of total outstanding advances for RRBs as against 40% for Scheduled Commercial Banks. 

Ans: B

Exp:

• Pair 1 is correctly matched: The fifth edition of Vietnam-India Bilateral Army Exercise (VINBAX) 2024 started at Ambala, Haryana. The aim of VINBAX-2024 is to enhance the joint military capability of both countries.
• Pair 2 is correctly matched: Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.
• Pair 3 is not correctly matched: Sampriti is a joint military exercise between India and Bangladesh that focuses on defense cooperation.

Ans: C

Exp:

Cabinet approves infusion of equity of Rs.10,700 crore in Food Corporation of India by way of conversion of Ways and Means Advance to equity in 2024-25.

• Statement 1 is correct: The Ways and Means Advances scheme was introduced in 1997  to meet mismatches in the receipts and payments of the government.
• Statement 2 is not correct: The government can avail of immediate cash from the RBI, if required. But it has to return the amount within 90 days. Under it, Interest is charged at the existing repo rate.
• Statement 3 is correct: The limits for Ways and Means Advances are decided by the government and RBI mutually and revised periodically.
• Statement 4 is correct: Special WMA or Special Drawing Facility is provided against the collateral of the government securities held by the state. After the state has exhausted the limit of SDF, it gets normal WMA. The interest rate for SDF is one percentage point less than the repo rate.
• If the WMA exceeds 90 days, it would be treated as an overdraft (interest rate on overdrafts is 2 percentage points more than the repo rate)