[Mission 2023] QUIZ : Insights Current Affairs Quiz , 27 June 2022 – INSIGHTSIAS

Solution: b)

According to the guidelines released by the central bank in August 2016:

Eligible entities seeking universal bank licences must be:

• Individuals/entities with at least 10 years of experience in banking and finance at a senior level or private companies or groups with at least 10 years of successful track record.
• Groups or companies applying for such licences must have assets of Rs 5,000 crore or above and the non-financial businesses don’t account for 40% or more of these assets.

Solution: d)

To finance the compensation requirements, a GST compensation cess was levied on certain items such as tobacco products, automobiles, coal and solid fuels manufactured from lignite, pan masala and aerated waters.

Solution: c)

Red Sea runs between the two continents Africa and Asia. It is a seawater inlet of the Indian Ocean. Four African countries border the Red Sea on the western side, while two Asian countries in east.

The countries that border Red Sea are:

• Saudi Arabia
• Yemen
• Egypt
• Sudan
• Eritrea
• Djibouti

Its waters cross the Tropic of Cancer, and it is the northernmost tropical sea in the world.

Solution: b)

Gene sequencing — the most reliable means of detecting the virus’ many variants.

Gene sequencing reads the order of nucleotides, which are the building blocks of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA).

Despite being considered the gold standard, sequencing has a few limitations. It is slow, expensive and complicated.

It is a multi-step process. It begins with extracting the virus’ RNA from patient samples, converting it into DNA, amplifying or multiplying it through RT-PCR before finally sending it for gene sequencing.

Gene sequencing is also complicated and expensive. It has to be done in batches of 24, 96 or 384. Testing 384 samples on one sequencing chip “costs around Rs 10,000 per sample. The cost is higher when the number of samples is lower.

Solution: d)

The 12th century Apatsahayeswarar temple at Tukkachchi near Kumbakonam, which has been standing derelict for over a century.

The temple was closely associated with Kulotunga I and Vikrama Chola. The temple is of greater significance in the evolution of Chola art and architecture during the later Chola period”. “Apart from that, its importance lies in the fact that it is perhaps the only big temple built during the days of Vikrama Chola.