13th July 2024 | [Quiz] Current | For Prelims 2024

Consider the following statements:

Statement-I: Ways and Means Advances (WMA) are long-term financial instruments provided by the Reserve Bank of India (RBI) to support states and the Central Government in managing their fund requirements.

Statement-II: Under WMA, after exhausting the Special Drawing Facility (SDF), states and Union Territories can access Normal WMA.

Which one of the following is correct in respect of the above statements?

Which of the following statements are correct:

1. The Promissory Note is a negotiable instrument, that is governed by the Negotiable Instruments Act, 1881.
2. The Promissory Note can be subjected to stamp duty, and the amount of duty varies from state to state in India.
3. Only the maker of a promissory note is liable to pay the amount mentioned in the note.

Select the correct answer using the codes given below:

Consider the following statements:

1. The implementation of the Foreign Exchange Management Act (FEMA) is overseen by the Financial Intelligence Unit of India.
2. An "Authorized Person" under FEMA, is a person who is authorized by Reserve Bank to deal in Foreign Exchange.
3. The FEMA was enacted in 1999 to replace the Foreign Exchange Regulation Act (FERA).

Which of the above statements is/are correct?  

Consider the following statements:

1. Nuclear Fission is the process in which a heavy atomic nucleus splits into two or more lighter nuclei, along with the release of energy.
2. Nuclear Fission uses isotopes of light elements like hydrogen, which are abundantly available.
3. Nuclear Fusion produces long-lived radioactive waste, and there are concerns about nuclear accidents and nuclear proliferation.
4. Nuclear Fusion has the potential to be more energy-efficient and sustainable in the long run.

Which of the above statements is/are incorrect?               

With reference to the ‘Battery Energy Storage Systems (BESS)’, which of the following statements is/are correct?

1. Various battery technologies are used in BESS, including lithium-ion, lead-acid, sodium-ion, flow batteries, etc.
2. It helps in addressing the challenges of grid balancing, load-shifting, and providing backup power during peak demand or grid outages.

Which of the above statements is/are correct?