Q1. What is the primary objective of ISRO’s RESPOND Basket 2025?
- To commercialise private space startups in India
- To identify urgent research problems aligned with ISRO’s current and future mission requirements
- To recruit scientists directly from universities
- To fund international space collaborations exclusively
Correct Option: 2. To identify urgent research problems aligned with ISRO’s current and future mission requirements.
Explanation:
• The RESPOND Basket 2025 is a collection of research problem statements released by ISRO.
• These problems are carefully selected by ISRO and Department of Space centres/units based on the organisation’s upcoming programmatic R&D needs.
• The initiative aims to engage academic and R&D institutions in solving mission-driven technological challenges, thereby strengthening collaboration between ISRO and academia.
Q2. According to the recent monograph on butterflies of Kerala, which of the following statements is/are correct?
- Kerala accounts for nearly the entire butterfly diversity of the Western Ghats.
- Nymphalidae is the most species-rich butterfly family in Kerala.
- All butterfly species protected under the Wildlife (Protection) Act, 1972 in Kerala are listed under Schedule I.
Options:
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Correct Option: 1. 1 and 2 only.
Explanation:
• Statement 1 – Correct:
The study reports 328 butterfly species in Kerala, while the entire Western Ghats host 337 species, meaning Kerala represents nearly the complete butterfly diversity of the Western Ghats.
•
Statement 2 – Correct:
Among the six butterfly families recorded, Nymphalidae is the most species-rich with 97 species, followed closely by Lycaenidae (96 species).
•
Statement 3 – Incorrect:
Although 70 butterfly species in Kerala are protected under the Wildlife (Protection) Act, 1972, only four species are listed under Schedule I, which provides the highest level of legal protection.
Q3. With reference to the proposed Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025, consider the following statements:
- The Bill proposes separating the functions of regulation, accreditation, and standards-setting in higher education.
- It removes the power of grant disbursal from the regulatory authority currently exercised by the UGC.
- It creates an independent grants council as recommended under the National Education Policy, 2020.
Which of the statements given above is/are correct?
- 1 and 2 only
- 2 and 3 only
- 1 only
- 1, 2 and 3
Correct Option: 1. 1 and 2 only.
Explanation:
• Statement 1 – Correct:
The VBSA Bill, 2025 explicitly segregates three core functions of higher education governance—regulation, accreditation, and standards-setting—into separate councils.
This separation is intended to reduce conflicts of interest, in line with the NEP 2020 recommendations.
•
Statement 2 – Correct:
A key feature of the Bill is the removal of grant-disbursal powers from the regulatory authority, a function presently performed by the University Grants Commission (UGC).
Under the proposed framework, grant disbursal will be handled by the Ministry of Education.
•
Statement 3 – Incorrect:
Although NEP 2020 suggested a separate grants council, the government has clarified that the VBSA Bill does not create an independent grants council.
The decision was described as a “conscious move” due to the complexity of multiple funding sources in higher education.
Q4. With reference to the Insurance Amendment Bill passed by the Lok Sabha, consider the following statements:
- The Bill allows 100% foreign direct investment (FDI) in the insurance sector under Indian regulatory oversight.
- The net owned fund requirement for foreign reinsurance branches has been increased to strengthen financial stability.
- The Bill enhances the powers of IRDAI to impose higher penalties on insurance intermediaries
Which of the statements given above is/are correct?
- 1 only
- 1 and 3 only
- 2 and 3 only
- 1, 2 and 3
Correct Option: 2. 1 and 3 only.
Explanation:
• Statement 1 – Correct
The Bill raises FDI in the insurance sector from 74% to 100%, while clearly stating that all companies will continue to be governed by Indian laws and regulated by IRDAI.
•
Statement 2 – Incorrect
The Bill reduces, not increases, the net owned fund requirement for foreign reinsurance branches from ₹5,000 crore to ₹1,000 crore to attract more global reinsurers.
•
Statement 3 – Correct
The Bill strengthens IRDAI’s enforcement powers by:
Allowing disgorgement of wrongful gains
Increasing the maximum penalty on insurance intermediaries from ₹1 crore to ₹10 crore
Q5. With reference to the proposal for round-the-clock trading in U.S. stock markets, consider the following statements:
- Nasdaq has proposed extending weekday trading to nearly 23 hours a day.
- Large U.S. banks are strongly supportive of the move due to expectations of significant revenue growth.
- Concerns have been raised that overnight trading could suffer from low liquidity and higher volatility.
Which of the statements given above is/are correct?
- 1 only
- 1 and 3 only
- 2 and 3 only
- 1, 2 and 3
Correct Option: 2. 1 and 3 only.
Explanation:
• Statement 1 – Correct
Nasdaq has filed paperwork with regulators to extend trading hours to 23 hours a day on weekdays, signalling a major shift toward near round-the-clock trading in U.S. equities.
•
Statement 2 – Incorrect
Several major U.S. banks such as JPMorgan, Bank of America, and Morgan Stanley are reluctant, not enthusiastic. They view the move as potentially costly, requiring large investments in technology and risk management, with uncertain revenue benefits.
•
Statement 3 – Correct
Market experts and institutional investors, including BlackRock, have warned that overnight sessions tend to have thin liquidity, which can lead to:
•
Wider bid–ask spreads
•
Increased volatility
•
Higher trading costs