Daily Current quiz for UPSC 7 dec 2024

Consider the following statements about Alternative Reference Rates (ARRs):

1. ARRs are benchmark interest rates based on overnight, secured transactions.
2. They are designed to replace LIBOR due to concerns about its reliability.
3. ARRs are calculated based on a panel of bank estimates rather than actual market transactions.

Which of the above statements is/are correct?

Which of the following statements about IDRA is/are correct?

1. IDRA was launched in 2022 during COP27.
2. Its main focus is on providing immediate financial relief to countries affected by drought.
3. Spain and Senegal co-chaired the alliance at its inception.

Which of the following statements about the Secured Overnight Rupee Rate (SORR) is correct?

1. SORR is a risk-free benchmark rate based on secured overnight transactions in the Indian interbank market.
2. SORR is administered by the Reserve Bank of India (RBI) to promote liquidity management in Indian banks.
3. SORR is calculated based on unsecured lending transactions among Indian banks.

Consider the following statements about the United Nations Convention to Combat Desertification (UNCCD):

1. The UNCCD is the only legally binding international agreement linking environment and development to sustainable land management.
2. It was adopted in 1994 and entered into force in 1996.
3. The UNCCD seeks to achieve land degradation neutrality (LDN) by 2030.

Which of the statements is/are correct?