 Good evening aspirants. Welcome to the Hindi news analysis brought to you by Shankarai's Academy. Today I'll be covering the Hindi news edition dated 2nd of August 2022. Look at the list of news articles I have taken for today's discussion. These news articles will be discussed in a detailed manner from the problem's perspective as well as main's perspective. And the quiz question for today will be posted as a poll along with this video. So listen to the discussions carefully and then try to answer that question. The answer for that poll will be published along with tomorrow's video. Now for example take this question, read it out, try to answer this question. If you are not able to answer this question don't worry we are going to cover this topic in today's analysis. Then come back you can definitely answer this question. So in today's discussion we are going to cover certain crucial topics like this. Without wasting much time let us get to the discussion. So at last August has begun now. This month is special for us because we are going to celebrate our 75th Independence Day in this month. So in that spirit I have taken this news article first. As you can see the title says hergar tiranga. Here her means every, gar means house, tiranga means tricolor. So it states tricolor in every house. This is a campaign about taking the national flag into our homes. We'll see what it is in our discussion. See actually this article reminds us of the significance of national flags from historic times. It mentions examples from the epic Mahabharata and the significance it held at that time. And through this it establishes the importance of national flag. So this is what we need to understand from the news article. But from examination point of view what should be our focus? Yes it is the Indian national flag. So we'll see its history and also the initiative hergar tiranga. See as I said flags have a special place since the dawn of civilizations because it is seen as a symbol of belonging and protection. It is also a symbol to rally people together. Particularly when we talk about India flags have been an important part of Indian tradition as it symbolizes glory and dharma. And this is why the tradition has continued even when we started building India as a modern nation state. But remember immediately we did not come up with the current tricolor flag. Before that India had different flags. Let us see how the Indian national flag has evolved over time. We can start from the pre-independence era. Between 1904 and 1906 the first Indian flag came into existence. As you can see in this image it was made by Sister Nivedita. Sister Nivedita was the Irish disciple of Swami Vivekananda. So as you can see there is no tricolor in this. Now after Sister Nivedita's flag another flag was designed in 1906. It was a tricolor flag. It had three equal stripes of blue yellow and red. And here in Hindi it is written as Vande Mataram. So that means the flag which came out in 1906 had the terminology Vande Mataram and it reflected the Indian spirit at that time. Other than this it also had several symbols like the sun, moon, stars etc. In addition to this in 1906 itself another flag came into existence. It was hoisted on August 7th of 1906 at an anti-partition rally that was held in Parsi Bangan square in Den Calcutta. This is also a tricolor flag and it also has the terminology Vande Mataram. But the colors are different here. And note that this tricolor is believed to have been designed by two people Sachendra Prasad Bose and Sukumar Mitra. So from this we can say that the tricolor tradition started in 1906. Then next year another flag was hoisted in Germany. It was in 1907. Now this flag was called the Berlin committee flag. It was collectively designed by Madam Bikaji Kama, Vinayak Damotar Savarkar who is also referred to as Veer Savarkar and then Shyamji Krishna Verma. As you can see this flag is also a tricolor flag. It also had the terminology Vande Mataram. And note that this was the first Indian flag to be hoisted in a foreign land. Then another flag came into existence in 1917. It is hoisted by Dr. Anipasant and Lokmanya Tilak. It is hoisted during the home rule movement that was demanding the Dominion status to India. So as you can see it is not a tricolor flag and it also did not had the term Vande Mataram. But as you can see it also has another flag in its northwest corner. You can recognize it easily I think. It is the flag of United Kingdom. Then after this we also had another tricolor flag. The design of this tricolor is largely attributed to Pingali Venkaya. He was an Indian freedom fighter who reportedly first met Mahatma Gandhi in South Africa itself during the Second Anglo-Boer War. Actually he even published a book with possible designs of Indian flags in the year 1916. And then in 1921 at the All India Congress committee that was held in Beswada Venkaya met Gandhiji again and proposed a basic design of the flag. Here Venkaya suggested a flag consisting of two bands of colors. One was red and the other was green. It was to symbolize two major communities that is Hindus and Muslims. But it is said that Gandhiji suggested adding a white band to represent peace and the rest of the communities living in India. He even suggested a spinning wheel to symbolize the progress of the country. So this flag that came out in 1921 had a charka. Charka means spinning wheel. See actually some people were not happy with the communal interpretation of the national flag. So keeping this in view a new flag was designed. Here the tricolor aspect was retained even the charka was retained but only the colors were changed. The colors were changed to saffron white and green. And note that this flag having the charka in the middle is also called as the Swaraj flag. And after this came our current national flag. See when India attained independence a committee headed by Dr. Rajendra Prasad was formed to select the national flag of India. The committee adopted the Swaraj flag with a slight change as the flag of independent India. So here the charka in the middle was replaced by Ashok Chakra. And after that the tricolor flag having the Ashok Chakra is our national flag. And note that this flag has no religious interpretation like the one before the Swaraj flag. So now what the colors mean here? Here the saffron is on the top. It symbolizes strength and courage and white is in the middle which represents peace and truth. And then comes the green at the bottom. It stands for fertility, growth and auspiciousness of the land. And in the middle we have the Ashok Chakra represented in blue color. It has 24 spokes. It is intended to show that there is life in movement and death in stagnation. Okay. So this is the evolution of our Indian flag. So from this you would have got the idea of when the tricolor idea was adopted and when the colors were changed to saffron and green and then when charka was added and then when it was changed to Ashok Chakra. Now let us come to the initiative Harghar Thiranga. See this is a campaign to encourage people to bring the Thiranga home that is the tricolor flag to their home and to hoist it so as to mark the 75th year of India's independence. Here people are encouraged to hoist it between August 13th and 15th. Now what is the significance of this campaign? See before this campaign our relationship with the flag has always been more formal and institutional than personal. But now bringing the flag to our homes reflects the act of personal connection to the Thiranga. It is also an embodiment of our commitment to the nation building. Now the idea behind this initiative is to invoke the feeling of patriotism in the hearts of people and also to promote awareness about the Indian national flag. It also aims to invoke a sense of ownership in the people and obviously it is also meant to celebrate the Azadika Amrat Mahotsav in the spirit of Jan Bhagidari. See Jan means community. Bhagidari means participation. It represents community participation in the celebration of 75th Independence Day. See here you should note that for this campaign the government has taken steps to ensure that every citizen gets an opportunity to hoist a national flag and for this the flag code has been changed. That is it has been changed to make the flag more accessible. So now every Indian will have the unique opportunity to hoist the flag at their homes. You can get these flags from post offices near you and even the state governments have tied up with various stakeholders for the supply of flags. For example if you remember yesterday we saw about Urnodai scheme of Assam and we saw that Assam government has given additional money to the beneficiaries to buy flag. So initiatives like this have been taken by the state governments and also by the central government. You can also get the flag from the government's e-market place portal on e-commerce portals and even it is available with various self-help groups. So don't forget to buy flag and hoist it from 13 to 15th. So this discussion was quite factual. We have seen many relevant points from the problems angle. So with these points in mind now we are going to the next news article discussion. Let us see what this news article says. It mentions that Bharat biotech which is a vaccine making company is now working with the Washington University School of Medicine to develop a new type of vaccine. So they are working to develop a novel chimp adenovirus intranasal vaccine for COVID-19. This vaccine is expected to prevent COVID infection and transmission. We will see more about this vaccine when it is developed. Today rather we are going to focus on the type of vaccinators which is the intranasal vaccine. See as the name suggests these vaccines are administered through the nasal tracts that is through nose. The idea behind this is to stop the virus at the point of entry itself. So the focus here is triggering immune response in the nose. Let me take the example of COVID-19 itself to make you understand. See as you know SARS-CoV-2 was identified as the cause of an acute respiratory disease known as the coronavirus disease 2019 or in short COVID-19. Now recent reports indicate that this SARS-CoV-2 evokes robust humoral immune responses. It even evokes production of virus specific antibodies of the immunoglobulin M that is IgM then immunoglobulin G and immunoglobulin A IgM IgG and IgA isotypes. As you know an antibody is a protein that is produced by the body's immune response when it detects a harmful substance. Here the harmful substance is the antigen. Now when the virus comes into the body the immune system produces antibodies. Particularly the IgA isotype that is immunoglobulin A isotype plays a crucial role in protecting mucosal surfaces against pathogens. See mucosal surfaces are those which has mucous membranes. They align many tracks and structures of the body like mouth, nose, eyelids etc. So this IgA plays a crucial role in protecting mucosal surfaces. This is done by neutralizing respiratory viruses or it even prevents the pathogens attachment to the epithelial cells in the mucosal surfaces. So from this it is clear that the first barrier the virus faces is through the IgA in the nose. But if you see the vaccines that are developed for COVID-19 they are intramuscular injections that is you take the shot in the arm right. It is a intramuscular injection. Here the injections are given deep into a muzzle and there the medication is absorbed quickly by the surrounding blood vessels. But we know that SARS-CoV-2 attacks us via respiratory tract but here the vaccines are injected in the arm. So generally they do not generate the kind of protection in the nasal passages that would be needed to block all infections that is it does not provide sterilizing immunity. See when there is sterilizing immunity it neutralizes antibodies at the site of infection itself. So for respiratory viruses like SARS-CoV-2 the occurrence of neutralizing IgA in the mucosal secretions means sterilizing immunity. So the vaccines could be used to enhance this sterilizing immunity. That is here we want to protect the upper respiratory tracts. Then the products that are administered as vaccines should be provided in the nose itself. So the vaccine products need to be administered in the nose itself to protect the upper respiratory tracts and that is why we need a intranasal vaccine a vaccine that is administered in the nose. If you ask me whether by taking intranasal vaccines we can avoid the infection totally the answer is no because it cannot be said that intranasal vaccines would block all the infections but according to experts they would do a better job than the existing intramuscular vaccines because these intranasal vaccines provide a better protection to the mucous membranes of the nose and throat. These are the primary sites of infection so if they are protected then the further transmission of the virus will be protected. But other than this there are also other reasons why intranasal vaccines are considered better than the other COVID-19 vaccines. See the existing vaccines induce enough levels of antibodies after vaccination and even some of them end up in mucous membranes of the nose and throat. We are not saying they do not provide protection at all but the protection that is provided by intranasal vaccine is quite high. Now in case of other vaccines as the antibody levels start to drop in the months after vaccination the early nasal protection which was provided by them starts to fade but in case of intranasal vaccines they will keep up the antibodies level at the site of infection that is in the nasal tracts. So by this the nasal tract will be protected from the virus. Now we are seeing every other day new variant of coronavirus so at this time a vaccine that could provide protection at the site of infection especially the sterilizing immunity is the need of the hour. So that is why many vaccine companies are working on developing this intranasal vaccines. So what you need to remember from this discussion intranasal vaccines are administered through nasal tracts especially for COVID-19 it will be more beneficial because the main infection site is the nose and throat and it provides better sterilizing immunity than the intramuscular vaccines. So with these facts in mind let us move on to the next news article discussion. Now let us take up this editorial for discussion. It talks about the rupee-ruble route to counter the dollar hegemony. See here rupee is the Indian currency and ruble is the Russian currency and the article talks about how this rupee-ruble route can counter the use of US dollars in the trade. So we are going to see the potential advantage for India of adopting this route and also we will see the issues that may arise due to this adoption. Here I have given the syllabus relevant to this discussion just take note of it. Now everywhere we see in the international trade of India we see US dollar USD USD USD it is because the trade payments are made in US dollars. This is a scenario since World War II because after that US dollar has occupied the top most position in the currency hierarchy and the reason behind this is the continual strong performance of the US economy and also the trust which everyone has on USD worldwide. So these situations have led to the situation of most global transactions happening via USD. But for a country like India this is a cause for concern and especially in a current economic condition of India this is a concern. So we know India imports some of its essential commodities. We import crude oil, edible oil, active pharmaceutical ingredients etc and we cannot immediately replace these imports with domestic production. So we have to rely on imports only and that is why the exchange rate between rupee and USD is important because the payment is made in US dollars. But we know that Indian rupee is vastly depreciating against the US dollar. Currently the cost of USD has crossed 78 rupees and this is resulting in inflation in India because of the increasing import bill. So to counter this situation India is taking steps to avoid the use of US dollars in its international transactions and one such effort is the rupee ruble route. Especially this will enable trade with Russia. Now to understand the advantages associated with this rupee ruble route we need to go through some basics. Here we will be knowing about Nostro account, Vostro account, rupee invoicing etc. First let me take the Nostro account. See Nostro in Latin means hour. Nostro account it refers to an account maintained by an Indian bank in a foreign bank which is located in a foreign country. So here the Indian bank maintains the Nostro account in the foreign currency. For example SBI maintains a US dollar denominated account in the city bank which is located in USA. So this is a Nostro account. So basically we can say that Nostro account means our money that is on deposit at your bank. Now the reverse of this Nostro account is the Vostro account. Vostro in Latin means your. So in case of a Vostro account a foreign bank maintains an account in an Indian bank. Therefore the Vostro account is denominated in Indian rupees. So here it basically means that in a Vostro account your money is on deposit at our bank. Now how these Nostro and Vostro accounts enable the rupee ruble route? For this let me take an example. Consider there are two banks. There is Russian bank A and then Indian bank B. Here the Indian bank B maintains a ruble denominated Nostro account with Russian bank A. On the other hand the Russian bank A maintains a rupee denominated Vostro account with the Indian bank B. Now India and Russia have an agreement upon exchange rate of one ruble equaling two rupees. So by paying two rupees we will be getting one ruble. So this is the situation. Now assume that a company in India for example Reliance Industry decides to import oil from a Russian oil company worth thousand rupees. Let this company be named as Russoil. Now instead of giving thousand rupees to Russoil here the Reliance Industries will deposit the amount in the Vostro account in the Russian bank A. Now this Russian bank A will in turn give 500 ruble to the Russoil company because we saw that the exchange rate is one ruble equaling two rupees. So thousand rupees equals 500 ruble. Now let me take another scenario where a Nostro account is present. Here assume that the Russian government is importing pharmaceutical products from Bharat biotech and it is worth 500 ruble. So here the Russian government will be depositing the 500 ruble in the Nostro account of Indian bank B. Now this Indian bank B will in turn give thousand rupees to Bharat biotech. So here you can see that we are only using rupee and ruble for the trade and we have bypassed US dollar. This is how the rupee ruble route will work. Okay now let me come to the another term rupee invoicing which is also called as rupee accounting. So it is maintaining your account in rupee denomination. At present as you know most of the international trade from India is dollar invoiced but there is an issue with dollar invoicing. What is the issue? Let me take another example here. Assume you are India's leading basmati rice exporters. Now your cost especially the wages and salaries are domestic and thus they are rupee denominated but your customers are mostly abroad that is in the USA and Europe. So your revenues are in dollars and euros. Now in this scenario the Indian side of things are rupee invoiced. On the other hand the export side is dollar invoiced and assume you are exporting one ton of basmati rice at thousand US dollars. Now to make one ton of basmati rice you are spending 70,000 rupees. This is fixed. Now what is the exchange rate? We saw it is 78 rupees for one dollar. So at the present exchange rate the thousand US dollars that you make by selling one ton of basmati rice will be about 78,000 rupees. Now in this transaction you have spent 70,000 rupees but you are getting 78,000 by selling that basmati rice. So you have made 8,000 rupees profit. Now suddenly assume the rupee starts performing well and it starts appreciating. When rupee appreciates then the rupee equaling the dollar will come down right. So assume if it improves to 50 rupees for one dollar. Now in this scenario again you are exporting one ton of basmati rice at thousand US dollars. So when you do this for thousand USD you will be getting only 50,000 rupees because the exchange rate is 50 rupees for one dollar. But here the cost of manufacturing the basmati that is the amount which you spend for basmati rice remains the same. It is at 70,000 only. So by spending 70,000 rupees you are only getting 50,000 rupees in return. So you are making a loss here a loss of 20,000 rupees. So all this has happened because of the fluctuations in the exchange rate. So when the dollar invoicing is used the risk associated with exchange rate fluctuations is borne only by the Indian traders and not the US traders. Here I have to quote a statement made by US Treasury Secretary. He said that the dollar is our currency but your headache. So to get away from this headache only now India is planning to move towards rupee invoicing. So I hope you understood Nostra account, Vastra account and rupee invoicing. Now the present scenario is that invoicing in rupee is already legal in terms of regulation 7 one of foreign exchange management deposit regulations 2016. Additionally to give boost to rupee invoicing RBI in a recent circular even allowed cross-border trade in Indian currency. Now under this arrangement RBI lays out the rules which allow the Indian exports and imports to be denominated and invoiced in Indian rupee and they will be using the market-determined bilateral exchange rates. Now how the rupee ruble route will be advantages for us. The first advantage as I already said through rupee invoicing India will help traders overcome currency fluctuations risk. The second advantage is regarding oil imports. See now Russia is facing western sanctions so it is exporting while at a discount. In this scenario if India imports oil from Russia using the rupee ruble route then on one hand it can use the discount easily and second it can also prevent the flight of US dollars from India because we will not be paying in USD we will be paying in rubles. So by this India will have access to cheap oil as well as it will prevent the depreciation of Indian rupee so twin advantages. Along with this there is also an advantage of increasing business opportunities for India. See Russia-Ukraine war has resulted into western sanctions on Russia. So many western countries are closing shop in Russia this has resulted in stagnation like conditions in some parts of Russia and already Russian economy has started contracting by 10 percentage to 15 percentage. So this has resulted into deindustrialization in Russia. There is also a sharp decline in production of steel, wood and automobiles. So when western countries are not willing to do trade with Russia India can fill that gap by way of exports. This will also solve the problem of trade deficit which India is having with Russia. See because of the trade deficit there is surplus in the rupee was through account. So when India starts exporting this surplus will reduce. So these are some of the advantages associated with rupee ruble route and rupee invoicing. Now what are the disadvantages or what are the issues associated with this route? First issue is arriving at a proper exchange rate between rupee and ruble because both the currencies are volatile. Now second issue is it is not sure whether the private players will be willing to participate in the rupee ruble route mechanism and the rupee invoicing mechanism. And finally the third most worrying issue for India will be the western reaction. See when India made a military deal with Russia for S-400 system at that time itself US was concerned about India. But US did not react much because it understood that S-400 missile system will help India to counter China. But right now already India is increasing its oil imports from Russia by bypassing the western sanctions. So if rupee ruble route is also taken by India then this act will be viewed by the western powers especially USA will be viewing this as India's indirect backdoor support to Russia. So they might think India is supporting Russia and is going against western powers and this might turn the western powers against India. So India is also worried about this consequence. So keeping all these consequences in mind India has to take a well calculated risk. So I hope you got an idea about how trade in US dollars is affecting our economy and how the rupee ruble route will be advantageous for us. With these points in mind now let us get to the next discussion. So now let us take up this news article it talks about the proposed amendment to the MMDR Act. So MMDR stands for Mines and Minerals Development and Regulation Act. Now certain amendments have been proposed to this act and it is now opposed by the Kerala government. So in this discussion let us see the proposed amendment and why it is supposed. Actually the main issue highlighted in the proposed amendment is regarding to the sixth item. So actually right now 12 minerals are placed in part b of the first schedule of MMDR Act. These are the 12 minerals just go through it at least read it once so you can see that many of them are strategically important for India. It includes minerals such as rare earth group of minerals etc and according to the present regulation only government companies can obtain a license for mining these minerals. But now what the amendment proposes is out of these 12 listed minerals many minerals have non-atomic applications. So in most cases they are non-atomic uses far outweigh their atomic uses. So they also find applications in the space industry electronics information technology renewable energy and nuclear industry. Therefore through the amendment the central government proposes to remove the first eight elements from the list and then place it in a separate list. Now the auction license of these eight elements can be provided by the central government. This power of the central government to auction will be in concurrent with the state government's right to auction. In addition to this the amendment also proposes to allow private players to participate in the mining of these eight minerals. See before we saw that only government companies can obtain license for mining. But now they are also trying to include private players. So this is what the amendment proposes. So you can understand why it is a post first is because the proposed amendment is against federalism. So you should understand that according to entry 23 of state list in the seventh schedule of the constitution state governments are the owners of the mines and minerals which are located within their territory of the state. So now through this amendment central government is trying to involve itself in the auction. So the critics are arguing that it is against constitution as well as federalism. Another reason for opposition is that the involvement of private players in the mining of sensitive minerals might affect the national security interest. See uranium thorium are important minerals from the national security perspective. So critics argue that if private players are given chance to deal with them then it might be misused. So they are arguing that it should only be done by the government companies. So therefore the opposition is based on two grounds. One is federalism. Second is the national security interest. I hope you got an idea about this amendment. Now let us move on to the next discussion. Now let us take up this snippet article from the business page. It says that ICSA bank has raised its lending rates by 0.15 percentage across all tenors. So under the revised rates the banks one year MCLR has been increased to 7.9 percentage. So what we are going to understand is what is this MCLR. It stands for marginal cost of funds based lending rate. So it is a lending rate. See the RBI sets a fixed internal reference rate for banks. This is the interest rate and this is then used by banks and lending institutions which command the RBI to define the minimum interest rate applicable to different loan types. And this rate is updated by RBI every once in a while when there is a drastic change in country's economic activities. So that means banks are usually not allowed to lend money at a rate below this reference rate called MCLR. So if RBI says the MCLR is 6 percentage then the banks cannot allow to lend money below this 6 percentage. That is why we also say that MCLR is the minimum lending rate below which a bank is not permitted to lend. You should note that this MCLR replace the earlier base rate system which was present to determine the lending rates for commercial banks. This MCLR was implemented in April 2016 to determine rates of interest for loans. And as I said already it is an internal reference rate for banks to determine the interest they can levy on loans. Okay, now you have to understand that here the banks have the liberty to make available all loan categories under a fixed or floating interest rates. But the banks publish MCLR for at least five durations. These five durations are overnight MCLR, one month MCLR, three month MCLR, six month MCLR and one year MCLR. They can also publish MCLR for more durations. But the lending rate cannot be below the MCLR for any loan maturities. You note that there are also other loans which are not linked to MCLR. These loans includes loans against customers deposit, loans to the bank's employees, special loan schemes by the Government of India like Jhandan Yojana, then fixed rate loans which have tenures above three years. All these are not linked to MCLR. Now if this MCLR rate is increased due to certain economic conditions then the effect is passed on to the customers only. Let me take an example here. Assume that RBI is increasing the rapport rate due to inflation. So here the banks will be paying the rapport rate to RBI. So banks will be paying more to RBI. That means then the banks will pass that increase to the customers also. So here the MCLR rate will also be increased by banks. So when this MCLR increases automatically the interest rates for the customers will increase and also their EMI's will also increase. How? See if the MCLR as I said is six percentage and assume that the bank is currently lending at seven percentage. Now if the RBI says the MCLR should be eight percentage then automatically then the banks will also either increase to eight percentage or it will go to nine ten percentage. So automatically here the interest rates are increased and the burden is only to the customers. When interest rates are more then the EMI's which we will be paying will also be more. But this hike is applicable only to floating interest rates and not to the fixed interest rates. Now two effective strategies are suggested to reduce the impact of increase in MCLR. One strategy is to increase the tenor of the loans. The tenor means the duration of the loans so that they can reduce the impact of increased EMI's. And second strategy they can use is they can make a part prepayment of the loan which they have got so that they can bring down the EMI's. Now why this MCLR was brought? See it is to benefit the all levels of customers. When there was a base rate system at that time the banks were only supporting the priority customers. For example if the base rate of the lending was seven percentage then those priority customers were given a rate below seven percentage. But for the ordinary customers the rate would even increase to ten percentage and this was unfair. That is why MCLR was brought into practice so that the banks cannot lend below a particular rate. So in a way the current MCLR aims to bring much needed transparency in the financial institutions while determining the interest rates. And previously when RBI reduced the rapport rate banks took a long time to reflect it in the lending rates for the borrowers. I said right when rapport rate increases banks will also immediately increase the MCLR. But at the same time when the rapport rate is reduced they should do the same with MCLR right but they did not do it. And that is why the MCLR regime was brought in and now the banks must adjust their interest rate as soon as the rapport rate changes. So this MCLR improves the openness in the structure followed by the banks to calculate the interest rate on advances that is on loans. And then it also passes the benefits of reduced interest rates to customers immediately. Along with it it ensures the availability of loans to customers which is both fair to the customers as well as to the lenders. So the main fact that you have to remember is MCLR is a rate below which the banks cannot lend. So with these points in mind we are moving to the next session which is the practice questions discussion session. Now consider this question it is about the Indian national flag. First statement is national flag of India was adopted in its present form on January 26th of 1950. This statement is incorrect. See the current national flag was adopted during the meeting of Constituent Assembly that was held on 22nd July 1947 that is few days before the India's independence. So from then on and even after independence this flag has served as the national flag of India. So first statement is incorrect. Now the second statement as per flag code 2002 the flag should be hoisted only between sunrise and sunset. See this statement would have been right previously but after July 20th of 2022 this has been changed because now the centre has amended this criteria. As of now national flags can be flown both in the day and at night if it is displayed in open or on the house of a member of the public. Earlier it could be hoisted only between sunrise and sunset. Okay there is an additional fact for you here before 2021 machine made flags and polyester flags were not allowed but now it is allowed. Okay so here both the statements are incorrect but if you look here the question asks you to choose the correct statements therefore the correct answer is neither one nor two. Now this next question is also a two statement question it is about MCLR. First statement is it is the rate at which the bank lends loans to the customers and it cannot be changed. This is incorrect because we saw that RBI can change the MCLR. So first statement is incorrect. Second statement loans covered by schemes specially formulated by government of India wherein banks have to charge interest rates as per the scheme are exempted from being linked to MCLR. See this statement is correct. During discussion we saw that schemes of government of India are exempted from being linked to MCLR and the reason is because those schemes have a separate interest rate and as per that only the banks have to charge the interest rates. This is the reason. So here statement two is correct and look at the question it asks you to choose the incorrect statements. So the correct answer is option A1 only. Let me take this next question it is a three statement question about rare earth minerals. First statement the rare earth minerals are present in a very low quantity in earth's crust so they are called rare earth minerals. It states the name is given because of this reason. Actually it is incorrect because rare earth elements are found in relatively high concentrations in the earth's crust but there is an exception which is the Promethium but still they are called rare earth because their extraction is difficult as they coexist with radioactive minerals such as uranium and thorium and due to the difficulty in extraction only they are called rare earth minerals or simply rare earths. So look at the second statement none of the rare earth minerals are radioactive. This is also incorrect. Here you can look at the two periodic tables one is showing rare earth minerals and the other one is showing the radioactive minerals. So you can find that out of these 17 rare earth minerals only Promethium is radioactive. Now come to the third statement they have unique applications due to their unusual fluorescent conductive and magnetic properties. This is correct. See rare earths have wide range of applications due to these properties only and they are mainly used in development of superconductors and development of powerful magnets because of these. So two statements are incorrect and one is correct and here question asks us to choose the correct statements. So the correct answer is option C three only. Now the quiz practice problems question will be displayed for you as a poll along with this video. So after this discussion go to that poll and answer the question. In tomorrow's video the answer will be published. Let us come to the main practice question how the rupee ruble route is operationalized examine the issues associated with it. So first half of the statement is quite direct. You have to mention about the Wastra account and Nostra accounts and how it is operationalized. Now the second half asks you to examine the issues. Here the key word is examine. Examine means you have to investigate it. So by doing that you have to establish the key facts and also the issues. You have to mention why these facts are important and you should mention the implications of such issues. We have actually discussed all these core points in the discussion itself. You have to just provide it in a structured manner. So this brings us to the end of Hindinis analysis dated 2nd of August 2022. If you find this video helpful click the like button. You can also share your experience and suggest improvements in the comment section and also subscribe to our channel to update yourselves with current affairs. I meet you all in the next current affairs session. Thank you.