Daily Current Affairs – July

With reference to the development of the 'Kusha' air defense system by DRDO, consider the following statements: 1 The Kusha system is an indigenous long-range surface-to-air missile (LR-SAM) network designed to provide a multi-layered shield against fighters, cruise missiles, and drones. 2 Testing missile systems from APJ Abdul Kalam Island allows DRDO to safely track interception trajectories over the open waters of the Bay of Bengal. 3 The successful deployment of long-range air defense systems forces the Indian Air Force to completely ground its entire fleet of fighter aircraft. How many of the statements given above are correct?

With reference to the agricultural economics of cotton cultivation in India, consider the following statements: 1 India possesses the largest cotton cultivation area globally but ranks second in overall production, indicating challenges with crop yield and productivity per hectare. 2 Cotton is a Kharif crop in major producing states like Gujarat, Maharashtra, and Telangana, requiring 210 frost-free days and abundant sunshine. 3 The Minimum Support Price (MSP) for raw cotton is determined exclusively by individual state governments without any central intervention. How many of the statements given above are correct?

With reference to the Reserve Bank of India’s foreign exchange regulations and the Authorized Dealer (AD) categorization, consider the following statements: 1 An AD-II license permits an entity to handle specific non-trade current account transactions, such as outward remittances for travel, medical treatment, and overseas education. 2 Granting a perpetual AD-II license to a non-bank entity like EbixCash allows it to directly process cross-border trade remittances for Micro, Small, and Medium Enterprises (MSMEs). 3 Under the Foreign Exchange Management Act (FEMA), outward remittances by resident individuals are strictly capped at $5,000 per financial year under the Liberalised Remittance Scheme (LRS). How many of the statements given above are correct?

Consider the following pairs regarding infrastructure initiatives and technological frameworks: 1 CFM LEAP engines: Advanced high-bypass turbofan engines used widely in commercial narrow-body aviation. 2 Fast-Track Courts: Specialized judicial mechanisms established to expedite the trial process for specific classes of offenses. 3 MAHAPREIT: A central government space agency dedicated to launching lunar satellites. How many of the pairs given above are correctly matched?

Regarding the macroeconomic role of NABARD and rural climate-resilient infrastructure, consider the following statements: 1 The National Bank for Agriculture and Rural Development (NABARD) acts as an apex regulatory body for the overall regulation of regional rural banks and cooperative banks in India. 2 Financing green infrastructure through Panchayati Raj Institutions ensures that climate adaptation projects are decentralized and tailored to local ecological needs. 3 NABARD operates as a fully private commercial bank funded entirely by foreign hedge funds to execute high-risk stock market trading. How many of the statements given above are correct?