[1]. With reference to Earthquake Lights, recently in the news after seismic activity in the Aegean Sea, consider the following statements:

1. Earthquake lights are luminous phenomena that may appear before, during, or after an earthquake.
2. They are caused by electric charges generated in stressed rocks, which ionise air molecules near the surface.
3. These lights are produced due to volcanic eruptions associated with earthquakes.

Which of the above given statements is/are correct?

[A]. 1, 2 and 3

[B]. 2 and 3 only

[C]. 1 and 3 only

[D]. 1 and 2 only

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[2]. Recently, the SAMPANN digital platform was in the news after agreements were signed to onboard it for pension disbursement. SAMPANN is the flagship platform of which of the following departments?

[A]. Department of Financial Services

[B]. Department of Telecommunications

[C]. Department of Expenditure

[D]. Department of Pension and Pensioners’ Welfare

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[3]. Recently, the Reserve Bank of India issued directions regarding Non-Deliverable Derivative (NDD) contracts in the rupee. A Non-Deliverable Derivative is best described as which of the following?

[A]. A derivative contract settled through physical delivery of currency

[B]. A government bond linked to foreign exchange rates

[C]. A derivative contract settled in cash without actual exchange of currency

[D]. A fixed deposit scheme denominated in foreign currency

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[4]. Recently, Newcastle disease was in the news due to its spread in poultry across Europe. Newcastle disease is caused by which of the following?

[A]. Virus

[B]. Bacteria

[C]. Fungus

[D]. Protozoa

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[5]. With reference to the General Anti-Avoidance Rules (GAAR), recently in the news, consider the following statements:

1. GAAR is an anti-tax avoidance framework under the Income Tax Act, 1961.
2. It applies to arrangements that are legally structured but intended to avoid taxes.
3. GAAR applies to all transactions irrespective of the amount of tax benefit involved.

Which of the above given statements is/are correct?

[A]. 1 and 2 only

[B]. 2 and 3 only

[C]. 1 and 3 only

[D]. 1, 2 and 3

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