#Solution #Samajho #SPR+

▪️RBI is taking a hard look at the neobank business model which is entirely based on fintechs. New developments in the financial sector are important for prelims.

▪️Statement 1 is correct. A neobank is a kind of digital bank without any branches. Rather than being physically present at a specific location, neobanking is entirely online.

▪️Statement 2 is incorrect. In India, neobanks don't have a bank licence of their own. They have to tie up with a licensed bank for their operations. RazorpayX, Niyo, Jupitor, etc are the examples of some Neobanks in India.

▪️Statement 3 is correct. RBI mandates physical presence of banks. Thus RBI doesn't allow banks to be 100% digital yet. RBI also spoke about the need for digital banking service providers to have some physical presence as well.

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Q. With reference the Sant Tukaram, consider the following statements:

1. Sant Tukaram is credited with starting the Wari pilgrimage.
2. The work of Sant Namdev and Kabir had a major influence on his works.

#Solution #Samajho #SPR+

▪️Statement 1 is correct. Sant Tukaram is credited with starting the Wari pilgrimage. Sant Tukaram and his work are central to the Warkari sect spread across Maharashtra. His message about a casteless society and his denial of rituals had led to a social movement.
▪️Statement 2 is correct. The work of Sant Dnyaneshwar, Sant Eknath, Sant Namdev and Kabir had a major influence on his works. His teachings were regarded as Vedanta based.

▪️New development: Prime Minister Narendra Modi inaugurated the Sant Tukaram Shila Mandir in the temple town of Dehu in Pune district.

▪️About Shila Mandir:
- Shila Mandir is a temple dedicated to a slab of stone (shila) on which Sant Tukaram meditated for 13 days when challenged about the authenticity of the Abhyangs he had written.
- Shila refers to a rock that is currently on the Dehu Sansthan temple premises, and that for centuries has been the starting point of Wari, the annual pilgrimage to Pandharpur.

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https://samajho.com/upsc/a-case-to-promote-border-tourism-indias-tremendous-tourism-potential-in-its-border-states-8th-march-2023-upsc-daily-editorial-analysis/

A case to promote border tourism - India’s tremendous tourism potential in its border States | 8th March 2023 | UPSC Daily Editorial Analysis

Q. Consider the following statements:

1. REITs and InvITs are classified as hybrid securities.
2. Hybrid security is a single financial security that combines two or more different financial instruments.
3. Hybrid securities are less beneficial to investors.

#Solution #Samajho #SPR+

▪️Statement 2 is correct. A hybrid security is a single financial security that combines two or more different financial instruments. Hybrid securities, often referred to as "hybrids," generally combine both debt and equity characteristics. They are bought and sold on an exchange or through a brokerage.

▪️Statement 1 is correct. REITs and InvITs are classified as hybrid securities. These are relatively new investment instruments in the Indian context, but are extremely popular in global markets. They are aimed at infrastructure based projects financing in India.

▪️Statement 3 is incorrect. As they combine the characteristics of both debt and equity they are more beneficial to investors.

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Q. With reference to the Sun's energy received by the Earth, consider the following statements:

1. The insolation (incoming solar radiation) is received by the Earth in the form of long waves.
2. Terrestrial radiation is the short wave electromagnetic radiation originating from Earth and its atmosphere.

#Solution #Samajho #SPR+

Insolation:
▪️Insolation is the amount of solar radiation that is received by a planet. The energy received by the earth’s surface in the form of short waves is termed as Incoming Solar Radiation or Insolation. Hence statement 1 is not correct.
▪️The insolation is not constant over the surface of the Earth — it is concentrated near the equator because of the curvature of the Earth.

Terrestrial Radiation:
▪️The solar radiation received by the earth is in short wave forms and it heats up its surface. The earth acts as a radiating body and radiates energy in the form of long waves to the atmosphere. This process is called terrestrial radiation and these long wave radiations heat up the atmosphere from below.
▪️The atmosphere in turn radiates and transmits heat to space. This maintains the constant temperature at the earth’s surface, as the amount of heat received from the sun is transmitted to space. Hence statement 2 is not correct.

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Q. With reference to the British rule in India, consider the following statements:

1. Till 1813, Britishers took active steps to transform and reform Indian Society and culture.
2. After 1813, they followed a strict policy of non interference in Indian society and culture.

#Solution #Samajho #SPR+
- The British followed a strict policy of non-interference in the social, religious and cultural life of the fellow Indian till 1813 AD. Hence statement 1 is not correct.
- After 1813, they took active steps to transform and reform Indian Society and culture. Hence statement 2 is not correct.
- After, 1813, British started the journey of transforming Indian society and cultural environment and this was happened due to the emergence of new ideas and thought via French Revolution, Industrial Revolution, and Intellectual Revolution.

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Q. With reference to the Raja Rammohan Roy, consider the following statements:

1. Raja Rammohan Roy wanted the introduction of modern capitalism and industry in India.
2. He published the Bengali translation of the Vedas and of five of the principal Upanishads.
3. He put the power of human reason secondary to teachings of holy scriptures and books.

#Solution #Samajho #SPR+

Raja Ram Mohan Roy:

-Raja Ram Mohan Roy is considered as the pioneer of modern Indian Renaissance for the remarkable reforms he brought in the 18th and 19th century India.
-Among his efforts, the abolition of the brutal and inhuman Sati Pratha was the most prominent. His efforts were also instrumental in eradicating the purdah system and child marriage.
-Raja Rammohan Roy wanted the introduction of modern capitalism and industry in India. Hence statement 1 is correct.
-He published the Bengali translation of the Vedas and of five of the principal Upanishads. Hence statement 2 is correct.
-He put the power of human reason primary (highest) to teachings of holy scriptures and books. Hence statement 3 is not correct.
-His publications includes: Tuhfat-ul-Muwahhidinor A Gift to Monotheists (1905), Vedanta (1815), Ishopanishad (1816), Kathopanishad (1817), Moonduk Upanishad (1819), The Precepts of Jesus - Guide to Peace and Happiness (1820), Sambad Kaumudi - a Bengali newspaper (1821), Mirat-ul-Akbar - Persian journal (1822), Gaudiya Vyakaran (1826), Brahmapasona (1828), Brahmasangeet (1829) and The Universal Religion (1829).

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https://samajho.com/upsc/undue-credits-national-assessment-and-accreditation-council-naacs-conflict-of-interest-10th-march-2023-upsc-daily-editorial-analysis/

Undue Credits - National Assessment and Accreditation Council (NAAC)'s “conflict of interest” | 10th March 2023 | UPSC Daily Editorial Analysis

Q. With reference to the Wood's Dispatch, consider the following statements:

1. It asked the Government of India to assume responsibility for the education of the masses.
2. It supported the downward filtration theory.
3. It asked to open the Department of Education in all provinces.