Ten MCQs on current International and national events - 171

PRERNA FOR IAS

(ASSOCIATE OF SAMKALP)

A-Category MCQs -171

1. With reference to the recent BRICS initiatives concerning cross-border payments, consider the following statements:

1. BRICS members are exploring interoperability among national payment and messaging systems.
2. India has highlighted the possible international role of UPI.
3. Discussions have also included linking fast-payment systems and Central Bank Digital Currencies.
4. BRICS has formally decided to replace the U.S. dollar with a single common BRICS currency.

Which of the statements given above are correct?

(a) 1, 2 and 3 only
(b) 1 and 4 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4

Correct Answer: (a)

Explanation: Statements 1, 2 and 3 are correct. BRICS countries are discussing low-cost cross-border payments, greater interoperability among national systems and increased trade in local currencies. India has highlighted UPI, while discussions have also covered fast-payment systems and CBDCs. Statement 4 is incorrect because the grouping has explicitly maintained that these initiatives are not aimed at replacing the dollar with a common BRICS currency. Elimination clue: distinguish between payment diversification and currency replacement. BRICS currently seeks greater efficiency and monetary flexibility, not a single supranational currency.

2. With reference to India-Russia relations, consider the following statements:

1. India and Russia are working towards annual bilateral trade of $100 billion by 2030.
2. Their cooperation extends beyond defence to areas such as energy, technology and infrastructure.
3. India's continued engagement with Russia necessarily means support for continuation of the Ukraine war.
4. India has reiterated dialogue and diplomacy as the preferred means for resolving the Ukraine conflict.

Which of the statements given above are correct?

(a) 1, 2 and 4 only
(b) 1 and 3 only
(c) 2, 3 and 4 only
(d) 1, 2, 3 and 4

Correct Answer: (a)

Explanation: Statements 1, 2 and 4 are correct. India and Russia are seeking to increase bilateral trade to $100 billion by 2030 and broaden cooperation beyond the traditionally important defence and energy sectors. India has simultaneously called for ending the Ukraine conflict through dialogue and diplomacy and offered assistance in peace efforts. Statement 3 is therefore incorrect. Elimination clue: strategic partnership does not imply agreement on every issue. India's approach seeks to preserve relations with Russia while supporting negotiated conflict resolution, reflecting its broader policy of strategic autonomy.

3. With reference to India's approach towards BRICS, consider the following statements: