#Solution #Samajho #SPR+

Pre-paid Payment Instruments (PPIs):

▪️Pre-paid Payment Instruments (PPIs) are defined in the RBI Guidelines issued under the Payment and Settlements Systems Act, 2005 as payment instruments that facilitate the purchase of goods and services, including funds transfer, against the value stored on such instruments.

▪️The value stored on such instruments represents the value paid for by the holders by cash, by debit to a bank account, or by credit card.

▪️The pre-paid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers and any such instrument which can be used to access the pre-paid amount.

▪️The Payment and Settlement Systems Act, 2007 provides for the regulation and supervision of PPIs in India. Reserve Bank of India (RBI) is the regulatory authority for this purpose.

▪️RBI has broadly classified the PPIs into three categories:
1. Closed System Payment Instruments:
- These are issued by an entity for facilitating the purchase of goods and services from it.
- They do not permit cash withdrawal or redemption.
- They are not classified as payment systems. Hence, RBI approval is not required for issuing them.
- E.g. online shopping vouchers by Flipkart, Amazon etc

2. Semi-Closed System Payment Instruments:
- Besides the purchase of goods and services, they can be used for financial services at a group of clearly identified merchant locations/ establishments which have a specific contract with the issuer to accept the payment instruments.
- They do not permit cash withdrawal or redemption by the holder.
- Instruments of up to Rs.1,00,000/- can be created by with full Know Your Client norms (KYC) and can be reloaded.

3. Open System Payment Instruments:
- Besides, purchase of goods and services, financial services like funds transfer at any card accepting merchant locations they also permit cash withdrawal at ATMs / Banking Correspondents (BCs).
- However, cash withdrawal at POS is permitted only up to a certain limit set by RBI

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Q. Which of the following architectural marvels is/are contributions of Rashtrakutas?

1. Kailasa temple at Ellora
2. Cave shrine at Elephanta
3. Kandariya Mahadev temple at Khajuraho

#Solution #Samajho #SPR+

◾️The third one belongs to the Chandella kings.
◾️The Chandelles, who ruled from 950 to 1100 A.D. constructed towering temples in central India, like the Kandariya Mahadev temple at Khajuraho. These were sculpted with human representations of endless variety. The sculptor here preferred the slender taller figures with a considerable accentuation of linear details.
◾️A charming specimen of the Chandella art of the 11th century is this figure of a woman writing a love letter. Behind her right shoulder are the fingernails marks inflicted by her lover, while embracing her. Recalling the pleasures which she had experienced in union with her lover and longing for another meeting with him she is prompted to write a love letter. On either side of her stands an attendant.

◾️The first Two belong to Rashtrakutas.
◾️In the middle of the 8th century, the Rashtrakutas wrested power from the Chalukyas. They created the greatest wonder of medieval Indian art in their Kailasa temple at Ellora. Quarried out of a hill and solid rocks, it is sculptured on a grand scale. The bold and magnificent carving in this temple shows the Rashtrakuta style of tall and powerfully built figures, reflecting spiritual and physical poise.
◾️The cave shrine at Elephanta is another great monument of the Rashtrakutas, which contains the famous Mahishamurti. The three heads emanating from one and the same body represent three different aspects of Lord Shiva.

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Q. Consider the following statements:

1. The earliest book on mathematics was Sulvasutra, written by Aryabhatta.
2. Apastamba introduced the concepts of practical geometry.

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▪️The earliest book on mathematics was Sulvasutra written by Baudhayana in the 6th century BC.
- There is a mention of 'Pi' and even some concepts very similar to Pythagoras' theorem in the Sulvasutra.
- Pi is presently used to calculate the area and circumference of the circle.

▪️Apastamba, in the second century BC, introduced the concepts of practical geometry involving acute angles, obtuse angles and right angles.
- This knowledge of angles helped in the construction of fire altars in those times.

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https://samajho.com/upsc/human-life-above-all-opposition-of-doctors-to-the-right-to-health-30th-march-2023-upsc-daily-editorial-analysis/

Human life, above all - Opposition of doctors to the right to health | 30th March 2023 | UPSC Daily Editorial Analysis

Q. Consider the following difference regarding the Nirguna and Saguna School:

1. Nirguna School are more focused on acquiring knowledge.
2. Saguna School worshipped idols and images.
3. Nirguna School thought of God as having positive and superficial attributes unlike Saguna School.

#Solution #Samajho #SPR+

▪️The Bhakti saints were divided into two schools depending on the way they imagined God.

▪️One school of thought imagined God as formless with no attributes or quality.
- This school of thought is the Nirguna School.
- They are more focused on acquiring knowledge.
- They rejected the scriptures and condemned every form of idol worship.
- The prominent figures of this school of thought were Kabir, Guru Nanak and Dadu Dayal.

▪️On the other hand, the Saguna School thought of God as having a definite form, quality and positive attributes and the god manifests himself in incarnations such as Rama and Krishna.
- His spirit is to be found in the idols and images worshipped at home and in temples.
- The Saguna School emphasizes on love and devotion.
- They accept the spiritual authority of the Vedas and the need of a human Guru as mediator between God and his devotee.
- Ramanuja, Ramananda and Chaitanya Mahaprabhu belonged to this school of thought.

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Q. Consider the following statements about the Polar vortex:

1. It is a large area of high pressure and cold air surrounding the Earth’s North and South poles.
2. The polar vortex spins in the stratosphere.
3. During winter in the Northern Hemisphere, the polar vortex will become less stable, sending cold Arctic air southward over the United States.

#Solution #Samajho #SPR+

▪️Statement 1 is incorrect: The polar vortex is a large area of low pressure and cold air surrounding the Earth’s North and South poles. The term vortex refers to the counterclockwise flow of air that helps keep the colder air close to the poles.

▪️Statement 2 is correct: The polar vortex spins in the stratosphere, a layer of the atmosphere 10-48 km above the ground and above the troposphere, where most familiar weather patterns develop.

▪️Statement 3 is correct: Often during winter in the Northern Hemisphere, the polar vortex will become less stable and expand, sending cold Arctic air southward over the United States.

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Q. With reference to the World Bank & International Monetary Fund (IMF), consider the following statements:

1. While IMF aims at the expansion of international trade, the aim of World Bank is to reduce global poverty.
2. It is mandatory to be a member of World Bank to become eligible for loans by IMF.
3. While IMF lends to both member countries and private sector, World Bank only lends to the member countries.

#Solution #Samajho #SPR+

▪️Statement 1 is correct. The International Monetary Fund (IMF) primarily aims to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other.

▪️It aims to facilitate the expansion and balanced growth of international trade. On the contrary, the World Bank Group primarily aims at reducing poverty, increasing shared prosperity, and promoting sustainable development. It provides financing, policy advice, and technical assistance to governments, and also focuses on strengthening the private sector in developing countries.

▪️Statement 2 is incorrect. To become a member of the World Bank, under the International Bank for Reconstruction and Development (IBRD) Articles of Agreement, a country must first join the International Monetary Fund (IMF) and not vice-versa.

▪️Statement 3 is incorrect. IMF loans are meant to help only member countries tackle balance of- payments problems, stabilize their economies, and restore sustainable economic growth. On the contrary, the International Finance Corporation (IFC) of the World Banks lends to the private sector while Multilateral Investment Guarantee Agency (MIGA) encourages private companies to invest in foreign countries.

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Q. Which of the following statements is/are true about the revolutionary activities that took place in Maharashtra?

1. Vasudev Balwant Phadke organised the Ramosi peasant force to overthrow the British government in India.
2. Chaphekar brothers were inspired by the work of ‘Mitramela’.
3. Anant Laxman Kanhere assassinated Justice Jackson of Nasik court for awarding life imprisonment to Ganesh Savarkar.

#Solution #Samajho #SPR+

▪️The Revolutionaries movements of the Indian national Movement are comprised of the actions of the underground revolutionary factions. The groups of revolutionaries’ movements were mainly active in Bengal, Maharashtra, the United Provinces and Punjab.

▪️Statement 1 is correct. The first of the revolutionary activities in Maharashtra was the organisation of the Ramosi Peasant Force by Vasudev Balwant Phadke in 1879, which aimed to rid the country of the British by instigating an armed revolt by disrupting communication lines. It hoped to raise funds for its activities through dacoities. It was suppressed prematurely.

▪️Statement 2 is incorrect. V.D. Savarkar established "Mitramela" in 1900 at Nasik, while Chapekar brothers killed Rand in 1897. It was Savarkar who got encouraged by the sacrifice of Chapekar brothers and established Mitramela.

▪️Statement 3 is correct. In 1908 the Police acquired objectionable documents at Savarkar's home against British government. On the basis of the documents Ganesh Savarkar was arrested and sentenced to life imprisonment by Justice Jackson. This led the revolutionaries of Abhinav Bharat Society to plan killing of Justice Jackson of Nasik court. As per the plan the 17 years revolutionary - Anant Laxman Kanhere fired bullet on Jackson on 21 Dec. 1909 and killed him.

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Q. With reference to the Members of Parliament Local Area Development Scheme (MPLADS), consider the following statements:

1. It is a Centrally Sponsored Scheme launched in December 1993.
2. The entire process of fund flow is now operated through the web portal.
3. Each year, MPs receive Rs. 5 crores in two instalments of Rs. 2.5 crore each.