• Acquittals and Convictions: Analysis shows that 43.44% of trials under the POCSO Act end in acquittals, while only 14.03% end in convictions. For every one conviction, there are three acquittals, indicating a significant disparity.
• State-wise Disparity in Acquittals and Convictions: Acquittals are significantly higher than convictions in all states studied. Examples: In Andhra Pradesh, acquittals are seven times more than convictions, and in West Bengal, acquittals are five times more than convictions. Kerala has a relatively lower gap, with acquittals constituting 20.5% and convictions constituting 16.49% of total disposals.
• Relationship Between Victim and Accused: Out of 138 examined judgments, only 6% of cases involved accused who were strangers to the victim. In 44% of cases, the relationship between the victim and accused was unidentified. Known acquaintances constituted 22.9% of the accused, family members accounted for 3.7%, and cases with prior romantic relationships made up 18%.
• Age Distribution of Victims and Accused: Among the 138 cases studied, 5.47% of victims were under 10 years, 17.8% were between 10-15 years, and 28% were between 15-18 years. The age of the victim was unidentified in 48% of cases. Age details of accused individuals were not identified in 63.6% of cases. Identified age ranges of accused: 11.6% between 19-25 years, 10.9% between 25-35 years, 6.1% between 35-45 years, and 6.8% above 45 years.
• Offenses and Severity: Penetrative sexual assault (31.18%) and aggravated penetrative sexual assault (25.59%) collectively account for over half of all POCSO cases. These offenses carry the most stringent punishments under the POCSO Act.

The Assam government cited several reasons for repealing the Assam Muslim Marriage and Divorces Registration Act of 1935, primarily related to concerns about its effectiveness and potential for misuse:

• Outdated and Obsolete: The Assam government considers the act outdated and claims it doesn't align with contemporary legal frameworks. The act was established during British colonial rule, and the government argues it no longer reflects current social realities and legal practices.
• Concerns regarding Misuse: Critics have raised concerns about the potential for misuse of the act, particularly regarding the identification and registration of marriages for undocumented immigrants. The government might believe the act could be exploited to legitimize the presence of individuals deemed ineligible to reside in Assam.
• Alignment with Uniform Civil Code: The repeal of the Act aligns with the Assam government's stated goal of implementing a Uniform Civil Code (UCC) in the state. A UCC would establish a common set of personal laws for all Indian citizens, regardless of their religion, potentially addressing concerns about the act's discriminatory nature towards other religious groups.
• Lack of Effectiveness in Preventing Child Marriages: The Assam government claimed the Act was ineffective in preventing child marriage within Muslim communities. Critics of this argument point out that the issue of child marriage requires broader social and legal reforms, not simply the repeal of the Act.

Prevalence

• India has made strides in reducing child marriage rates in recent decades. However, it remains a widespread problem.
• According to the National Family Health Survey-5 (NFHS-5), the prevalence of child marriage in India has declined to 23.3%.
• Rates vary significantly between states. States like Bihar, Rajasthan, Jharkhand, West Bengal, and Madhya Pradesh have higher than the national average.
• Child marriage is more prevalent in rural areas compared to urban settings.

Key Statistics (NFHS-5)

• 27% of women aged 20-24 were married before the age of 18.
• Child marriage is more prevalent among poorer households and those with less education.
• Rates in the Southern States of India are generally lower than those in the North and East.

Reasons for Child Marriage

• Families may view it as a means of reducing economic burdens.
• Child marriage perpetuates gender inequality and limits girls' opportunities.
• Girls without access to education are more likely to be married early.
• Deeply rooted customs and beliefs can perpetuate the practice.
• Despite laws, child marriage persists due to weak implementation.

Consequences

• Increased maternal and infant mortality, and health problems for child brides.
• Disrupts girls' schooling and limits their future potential.
• Increased risk of abuse and violence within marriage.
• Contributes to intergenerational cycles of poverty and inequality.

Child marriage is considered a violation of human rights for several reasons:

• Right to Education: Child marriage often results in girls dropping out of school, depriving them of their right to education. Education is a fundamental human right and is essential for the empowerment and development of individuals.
• Right to Health: Child brides are at higher risk of complications during pregnancy and childbirth, as well as other health issues related to early marriage and childbearing. This violates their right to health and well-being.
• Right to Freedom from Discrimination: Child marriage disproportionately affects girls and is a form of gender-based discrimination. It perpetuates gender inequality and denies girls the same opportunities and rights as boys.
• Right to Protection from Harm: Child marriage exposes girls to physical, emotional, and sexual harm. They are often forced into marriage against their will and may face abuse and violence from their spouses or in-laws.
• Right to Freedom of Choice: Child marriage deprives girls of their right to choose their own life partner and make decisions about their future. It restricts their autonomy and agency.
• Right to a Childhood: Child marriage robs girls of their childhood and forces them into adult roles and responsibilities before they are physically, emotionally, and mentally ready.
• Right to Equality in Marriage: Child marriage often involves significant age differences between spouses, which can lead to power imbalances and unequal relationships.
• Right to Participation: Child marriage prevents girls from participating fully in society and contributing to their communities. It limits their potential and opportunities for personal and professional growth.
• Right to a Family Life: Child marriage can disrupt family life and lead to negative consequences for the well-being of the entire family, including children born to child brides.
• Right to an Adequate Standard of Living: Child marriage can perpetuate poverty and economic dependence, as girls who marry young are less likely to complete their education and have access to employment opportunities.

Legal Frameworks

• Prohibition of Child Marriage Act (PCMA), 2006 The primary law prohibiting child marriages. It criminalizes those involved in facilitating or conducting child marriages, including parents, guardians, and priests.
• Child Marriage Restraint Act, 1929 An earlier law which served as the basis for the PCMA.
• Protection of Children from Sexual Offences (POCSO) Act, 2012 Protects children from sexual abuse, which is highly prevalent within child marriages.
• Right to Education Act (RTE) Mandates free and compulsory education for all children between 6-14, aiming to keep girls in school longer.

Schemes and Programs

• Beti Bachao Beti Padhao is a flagship government scheme promoting the value of girl children, advocating for their education, and raising awareness about the negative consequences of child marriage.
• SABLA (now Scheme for Adolescent Girls) Focuses on empowering adolescent girls in various aspects, including education, health, and life skills, reducing their vulnerability to child marriage.
• National Scheme of Incentives for Girls for Secondary Education Provides financial support to girls from disadvantaged backgrounds, encouraging them to delay marriage and continue their education.
• Childline India (1098) 24-hour helpline for children in distress, including those facing child marriage.

Institutional Structures

• Child Marriage Prohibition Officers (CMPOs) Appointed under the PCMA to prevent child marriages and investigate cases.
• National Commission for Protection of Child Rights (NCPCR) and State level commissions Statutory bodies tasked with monitoring children's rights and addressing issues like child marriage.

Awareness and Sensitization

• Government Campaigns Media campaigns and awareness programs highlight the illegality of child marriage and its harmful effects.
• Engagement with Community Leaders Efforts to work with religious leaders, local panchayats, and influential community members to change social norms around child marriage.

Challenges & Limitations

• Weak Implementation of Laws Lack of awareness about the laws, fear of backlash, and societal pressure often hinder the effective implementation of the PCMA.
• Patriarchal Mindsets Deeply rooted gender norms that undervalue girls and prioritize early marriage are prevalent, especially in rural areas.
• Poverty and Lack of Opportunity Economic hardship and limited access to education for girls continue to be significant drivers of child marriage.

HOUSEHOLD CONSUMPTION EXPENDITURE SURVEY 2022-23

 

 

 

1. Context

 

The latest Household Consumption Expenditure Survey (HCES) for 2022-23 does not only point to a continuing decline in the share of food items in the total spending basket of Indians. Equally revealing is a shift in the composition of food expenditure itself — from foodgrains and sugar to animal and horticulture products

 

2.Household Consumption Expenditure Survey 2022-23

 

• The Household Consumption Expenditure Survey (HCES) 2022-23 was conducted by the National Sample Survey Office (NSSO) under the Ministry of Statistics and Programme Implementation (MoSPI) in India. It aimed to gather data on the spending patterns of households across the country

• The Household Consumption Expenditure Survey is typically conducted by the National Sample Survey Office (NSSO) in India. This survey is crucial for understanding the consumption patterns and expenditure habits of households, providing valuable insights into the economic conditions and trends.
• The HCES collects data on various aspects of household expenditures, including food, education, healthcare, housing, and more. It is an essential tool for policymakers, researchers, and economists to analyse and formulate strategies related to economic development and social welfare.

2.1. Statistics

• Data from the Household Consumer Expenditure Survey (HCES), conducted by the National Sample Survey Office (NSSO), indicates a decline in the percentage of food expenditure in the average monthly per capita consumption expenditure (MPCE) for both rural and urban India.
• In rural areas, the share of food in MPCE decreased from 52.9% in 2011-12, 53.1% in 2004-05, and 59.4% in 1999-2000 to 46.4% in 2022-23.
• Similarly, in urban areas, although the drop was not as pronounced, there was still a decrease from 48.1% in 1999-2000 to 40.5% in 2004-05, 42.6% in 2011-12, and 39.2% in 2022-23

3.Analysis on Consumer Expenditure Survey

 

• Reducing spending on food as a proportion of your overall consumption allows for more financial resources to be allocated to various other areas, including consumer durables, clothing, footwear, fuel for transportation, and entertainment. In simpler terms, it opens up the possibility to aspire for a broader range of goods and experiences.
• From the 1999-2000 National Sample Survey 55th round to 2022-23, the proportion of expenditure on food has gradually decreased for both urban and rural households. Notably, it is the first instance where spending on food has dropped below 50% of the total consumption expenditure in rural India and below 40% in urban India, marking a significant shift.
• In 1999-2000, the share of food in consumption expenditure in rural India was as high as 59.4%, remaining around 50% during the first decade of the new millennium. However, in 2022-23, it reached 46.38%. In urban India, the share of food in the average monthly per capita consumption expenditure (MPCE) has declined to 39.17% in 2022-23 from 48.06% in 1999-2000

4.What is Monthly Per Capita Consumer Expenditure (MPCE)?

 

Monthly Per Capita Consumer Expenditure (MPCE) is a metric that measures the average spending per person in a household over a specified period, usually a month. It is a key indicator used in economic surveys and studies to assess the patterns of household consumption and expenditure.

Here's a breakdown of the components:

• Monthly: The expenditure is calculated over a monthly timeframe. This allows for a regular and standardized measurement of consumer spending.

• Per Capita: The total household expenditure is divided by the number of individuals in the household to arrive at the per capita expenditure. This normalization accounts for variations in household size, providing a more accurate representation of spending on an individual basis.

• Consumer Expenditure: This includes the total spending on various goods and services by members of a household. Consumer expenditure encompasses a wide range of items such as food, housing, education, healthcare, transportation, entertainment, and more.

MPCE is a crucial parameter for understanding the economic well-being and consumption patterns of households. It helps policymakers, researchers, and economists analyze trends in consumer behavior, identify changes in spending patterns over time, and assess the impact of economic policies on households.

The data on MPCE is often collected through household surveys, such as the National Sample Survey in India, where respondents are asked to provide details about their expenditures across different categories. This information is then aggregated and analyzed to draw conclusions about the economic conditions of the population

5.Way Forward

The Consumer Price Index (CPI)-based inflation, also called retail inflation, is currently based on a basket that was decided in 2012. But over the last 11 years, as the latest Household Consumption Expenditure (HCE) Survey 2022-23 shows, a lot has changed.

 

For Prelims:  Current events of national and international importance For Mains: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

Source: Indianexpress

ROOFTOP SOLAR SCHEME

 

 

 

1. Context

 

The Ministry of Power has notified amendments to the Electricity (Rights of Consumers) Rules, 2020, to accelerate the installation of rooftop solar projects and empower consumers – with provisions on connections in residential societies and solving complaints on meter readings

 

2.Rooftop Solar Scheme

 

The Rooftop Solar Scheme, also known as the PM Surya Ghar Muft Bijli Yojana, is a government initiative in India that aims to promote the installation of solar panels on rooftops of residential buildings. The scheme's objectives include:

• The scheme aims to provide up to 300 units of free electricity per month to one crore (ten million) households.
• By generating their own solar power, households can reduce their dependence on the grid and save on electricity bills.
• Solar power is a clean and renewable energy source that helps reduce greenhouse gas emissions and combat climate change.
• The scheme aims to increase India's energy security and reduce its reliance on fossil fuels

Eligibility:

The scheme is open to all residential consumers in India. However, there may be specific requirements or limitations set by individual state governments. It's important to check with your local electricity distribution company (DISCOM) for detailed information on eligibility criteria and application procedures

 

What is India’s current solar capacity? India's current solar capacity is rapidly growing, making it difficult to give a precise real-time number. Here's what we know: Installed Capacity: As of January 2024, India's installed solar capacity is around 74.30 GW. This includes both grid-connected and off-grid solar systems. Rapid Growth: India has been experiencing one of the fastest growth rates in solar power adoption globally. The country continues to add new solar capacity at a remarkable pace

 

 

3.Why is an expansion of solar energy important for India?

 

• India heavily relies on imported fossil fuels, making its energy security vulnerable to global market fluctuations and geopolitical tensions. By expanding solar energy, India can reduce its dependence on external energy sources and enhance its energy security
• India faces significant environmental challenges, including air pollution and greenhouse gas emissions. Solar energy is a clean and renewable resource, and its widespread adoption can help mitigate environmental degradation, reduce air pollution, and combat climate change.
• Solar energy contributes to diversifying the energy mix, reducing the country's dependence on finite fossil fuel resources. This diversification enhances resilience to energy price volatility and supply disruptions associated with fossil fuels.
• Millions of people in India still lack access to reliable electricity. Solar power, especially in decentralized or off-grid systems, can provide a cost-effective and sustainable solution to bring electricity to remote and underserved areas, thereby improving the quality of life and supporting economic development
• The solar energy sector has the potential to create jobs across various skill levels, from manufacturing and installation to maintenance and research. The expansion of the solar industry can contribute to employment generation and support the country's economic growth
• Solar projects can be deployed in rural areas, providing not only electricity but also opportunities for local economic development. Solar microgrids can power agricultural activities, improve healthcare services, and facilitate education in rural communities
• Investing in solar energy encourages research and development in renewable energy technologies. This innovation can lead to improvements in efficiency, storage, and overall performance, making solar energy more viable and competitive
• India has committed to international agreements and initiatives aimed at reducing carbon emissions and transitioning to cleaner energy sources. Expanding solar energy aligns with these global commitments, positioning India as a responsible and sustainable energy player on the international stage
• The cost of solar energy has been decreasing over the years, making it increasingly competitive with traditional sources of energy. As technology advances and economies of scale are realized, solar power becomes a cost-effective option for meeting India's growing energy demand
• Distributed solar power generation can enhance grid stability by reducing transmission and distribution losses and providing local sources of electricity. This decentralized approach can contribute to a more resilient and robust energy infrastructure

 

4.Electricity (Rights of Consumers) Rules, 2020

 

• The Electricity (Rights of Consumers) Rules, 2020 are a crucial piece of legislation in India that significantly empowers electricity consumers across the country

• A set of regulations introduced by the Indian Government to protect the rights of electricity consumers and ensure a high standard of service from distribution companies (DISCOMs).
• The rules provide a framework for consumer rights, obligations of distribution licensees, and mechanisms to address grievances

Key Rights Guaranteed by the Rules:

• Reliable Electricity Supply: Consumers have the right to 24x7 power supply, subject to reasonable technical constraints.
• New Connections: DISCOMs must provide new electricity connections within a specified timeline (7 days in metro cities, 15 days in municipal areas, 30 days in rural areas).
• Transparent Billing: Consumers have the right to receive accurate and timely bills with clear information on consumption and charges.
• Metering: Consumers have the right to have meters installed and tested regularly. They can also request meter testing if they have doubts about its accuracy.
• Grievance Redressal: The rules provide a clear mechanism for consumers to lodge complaints, with timelines for resolution by DISCOMs and consumer grievance redressal forums.
• Compensation: Consumers are entitled to compensation from DISCOMs for violations of service standards.
• Prosumers: The rules recognize the rights of "prosumers" – consumers who can generate their own electricity (like through rooftop solar) and feed excess back into the grid

5. Amendments to Electricity (Rights of Consumers) Rules, 2020

 

• The amendments, announced on February 22, have relaxed regulations regarding the necessity of a technical feasibility report for rooftop solar projects. They also permit residential societies to choose between individual connections or a unified single-point connection through a democratic vote.
• Additionally, electricity distribution companies (DISCOMs) are now obligated to install an extra meter to address consumer complaints about inaccurate meter readings.
• Furthermore, these amendments have shortened the duration required for obtaining a new electricity connection and mandate DISCOMs to furnish a separate connection for an electric vehicle (EV) charging point upon consumer request. These modifications constitute the fourth amendment since the issuance of the 2020 notification.
• Previously, DISCOMs had to conduct a feasibility study for rooftop solar projects within 20 days of receiving an application and communicate the results to the applicant. A technical feasibility study assesses whether a property is financially and physically suitable for solar panel installation.
• The recent amendments have reduced this period to 15 days. Additionally, if the study is not concluded within this timeframe, it will be assumed that the proposal is technically feasible.
• In essence, the expenses associated with fortifying distribution infrastructure for rooftop solar projects with a capacity of up to 5 kilowatts will be covered by DISCOMs, and this can be offset through their operations.
• The power ministry highlighted in a press release, "Furthermore, it is now mandated that the distribution system strengthening required for rooftop solar PV systems up to 5 kW capacity will be undertaken by the distribution company at its own expense." Lastly, the interval between the installation and commissioning of rooftop solar projects has been reduced from 30 days to 15 days

6.Way Forward

 

Electric Vehicles have been mentioned for the first time in the rules. DISCOMs are required to provide a separate connection for the supply of electricity to an EV charging point if requested by a consumer and within the revised period as mentioned above

 

 

For Prelims: Economic and Social Development For Mains:  General Studies III: Infrastructure: Energy, Ports, Roads, Airports, Railways etc

 

Previous Year Questions   1.Consider the following statements: (UPSC CSE 2016)   1. The International Solar Alliance was launched at the United Nations Climate Change Conference in 2015. 2. The Alliance includes all the member countries of the United Nations. Which of the statements given above is/are correct? A. 1 Only B. 2 Only C. Both 1 and 2 D. Neither 1 Nor 2 Answer (A)

Source: Indianexpress

BITCOIN

 

 

 

1. Context

 

Similar to the anticipation surrounding the Olympics every four years, cryptocurrency enthusiasts eagerly await their own quadrennial event. As athletes gear up for the 2024 Games in Paris this summer, crypto traders and Bitcoin miners are also preparing for the 'Bitcoin halving,' which is projected to occur in April.

 

 

2. About Bitcoin

• Bitcoin is a digital or virtual currency that uses cryptography for security and operates on a decentralized network called blockchain.
• It was invented in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto and was released as open-source software in 2009.
• Bitcoin is often referred to as a cryptocurrency because it relies on cryptographic techniques to secure transactions, control the creation of new units, and verify the transfer of assets.
• Unlike traditional currencies, Bitcoin is not issued by a central authority like a government or a bank, but rather it is created through a process called mining, where powerful computers solve complex mathematical problems to validate and record transactions on the blockchain.
• Bitcoin can be used to buy goods and services, or it can be traded on various online exchanges for other currencies or assets.

3. Understanding Bitcoin Halving

• Bitcoin halving is a significant event in the world of cryptocurrency, marking a 50% reduction in the reward given to Bitcoin miners for successfully validating transactions and adding them to the blockchain. This process, known as 'Proof of Work,' requires miners to solve complex mathematical puzzles using advanced computer equipment. The first miner to solve the puzzle claims the reward, which is currently set at 6.25 Bitcoin (BTC). However, the actual value of this reward fluctuates based on the market price of BTC and when the miner chooses to sell.
• Imagine a group of cashiers in a grocery store competing to accurately tally up the same set of items. The first cashier to complete the task receives a prize of ten gold coins. Each cashier can use their preferred tools to tally the items, with some opting for paper and pencil, others using a smartphone calculator, and some investing in state-of-the-art computer systems. While the cashier with the most advanced equipment is more likely to win, others still have a chance. This system encourages all cashiers to perform well, ensuring efficient service for customers.
• Now, consider returning to the same grocery store after several years. The cashiers are still competing for the same prize, but it has been reduced to five gold coins. Is the prize still worth the effort? The answer depends on the market price of gold and the cost of the equipment the cashiers invested in.
• Similarly, Bitcoin halving reduces the reward for miners, making it less profitable for some. However, it also helps maintain the scarcity of Bitcoin, which is a key factor in its value. Ultimately, Bitcoin halving is a crucial part of the cryptocurrency ecosystem, ensuring the sustainability and integrity of the blockchain.

4. Significance of Bitcoin Halving for Crypto Investors

• Bitcoin halving is a critical event for crypto investors due to its impact on the supply and scarcity of BTC. While Bitcoin mining increases the supply of BTC, halving reduces the rate at which new coins are released, making the asset more scarce.
• This scarcity is often associated with upward pressure on prices, similar to gold. With a total limit of 21 million BTC, over 19 million have already been mined, leaving a limited number of coins to be mined in the future.
• Halving occurs after every 210,000 blocks are mined, typically happening every four years. In 2009, a successful miner could claim 50 BTC as a reward, which has now been reduced to 3.125 BTC after the latest halving.
• However, the value of these rewards can vary significantly based on the price of Bitcoin. For example, as of February 14, 2024, the price of 1 BTC was approximately $49,528, making a mining reward of 6.25 BTC worth around $309,550.
• Both corporate and independent miners are actively involved in Bitcoin mining, often seeking locations with cheap electricity prices to maximize profits.
• While China was once a hub for crypto mining, government crackdowns have led to a migration of miners to other countries like Kazakhstan and Iran.
• The future value of Bitcoin rewards after halving largely depends on the market price of Bitcoin, making it a crucial consideration for crypto investors.

 

5. Impact of Bitcoin Halving on Investors

• The impact of Bitcoin halving on investors varies depending on their level of involvement with Bitcoin and its ecosystem.
• For instance, a corporate-level miner who has invested heavily in Bitcoin mining hardware and is facing high electricity bills may be eager to earn their block reward while it is still set at 6.25 BTC, rather than the reduced 3.125 BTC.
• On the other hand, a new trader who has made a small investment in Bitcoin through a crypto exchange app and is less familiar with the underlying blockchain technology might not react much to the news of halving.
• Meanwhile, a more experienced trader who has studied past halvings might consider increasing their Bitcoin investment in anticipation of a potential price spike, while another might "short" Bitcoin, hoping to profit from a potential price crash.
• Ultimately, the impact of Bitcoin halving on investors depends on their individual strategies, knowledge, and level of involvement in the cryptocurrency market.

 

6. Predicting the Crypto Market Post-Next Bitcoin Halving

• The future of the crypto market after the next Bitcoin halving is uncertain and subject to various factors. While many self-styled crypto traders, financial analysts, fintech engineers, crypto influencers, and statisticians claim to predict Bitcoin's price trajectory using cryptocurrency models and metrics, investors must understand that these are educated guesses at best.
• Some investors and analysts refer to a recurring four-year cycle tied to halvings, suggesting that prices tend to spike after these events. However, Bitcoin's journey has been unpredictable due to a mix of blockchain-related factors, regulatory changes, increased awareness of cryptocurrency investments, growing adoption of Bitcoin, and geopolitical or economic events.
• Bitcoin's price is heavily influenced by investor sentiment, with indicators like the 'Fear and Greed' index helping investors understand potential price shifts. While the next Bitcoin halving will be an intriguing event, crypto watchers need to conduct their own research and determine what the halving means for them personally.

 

7. The Way Forward

 

Bitcoin is a complex and innovative digital currency. Understanding halving and its implications is crucial for anyone considering investing in the crypto market. Remember, thorough research and informed decision-making are essential when navigating this dynamic and evolving space.

 

 

For Prelims: Bitcoin, Crypto Currency, Digital Currency For Mains:  1. Explain the significance of Bitcoin halving for the cryptocurrency ecosystem. How does it affect the supply and scarcity of Bitcoin? (250 Words)

 

 

Previous Year Questions   1. With reference to 'Bitcoins', sometimes seen in the news, which of the following statements is/are correct?  (UPSC 2016) 1. Bitcoins are tracked by the Central Banks of the countries. 2. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with Bitcoin address. 3. Online payments can be sent without either side knowing the identity of the other. Select the correct answer using the code given below. A. 1 and 2 only        B. 2 and 3 only        C.  3 only      D.  1, 2 and 3     2. With reference to “Blockchain Technology”, consider the following statements:  (UPSC 2020)  1. It is a public ledger that everyone can inspect, but which no single user controls. 2. The structure and design of the blockchain are such that all the data in it are about cryptocurrency only. 3. Applications that depend on the basic features of blockchain can be developed without anybody’s permission. Which of the statements given above is/are correct? A. 1 only    B. 1 and 2 only    C. 2 only      D.1 and 3 only     3. Currency swap is a method of (UGC  Commerce 2019)  A. hedging against foreign exchange risk B. speculating in foreign exchange C. leverage instrument used by cooperative banks D. mode of payment in international trade     4. "Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following? (UPSC 2022) A. Asian Development Bank B. International Monetary Fund C. United Nations Environment Programme D. Finance Initiative World Bank   Answers: 1-B. 2-D, 3-A, 4- B

Source: The Indian Express