Daily Current Affairs MCQs : 30 April 2024 - Bank Exams MCQ

Statement Analysis

• Statement 1: Correct
  • It is the operational arm of the United Nations Framework Convention on Climate Change’s (UNFCCC) Climate Change Technology Mechanism.
  • It is hosted by UN Environment (UNEP) in collaboration with the United Nations Industrial Development Organization (UNIDO) and with the support of 11 independent organizations having expertise in climate technologies.
• Statement 2: Correct
  • It was established to accelerate the development and transfer of environmentally sound technologies for low-carbon and climate-resilient development at the request of developing countries.
  • The CTCN provides technology solutions, capacity building, and advice on policy, legal, and regulatory frameworks tailored to the needs of individual countries by harnessing the expertise of a global network of technology companies and institutions.
  • The CTCN is a demand-driven mechanism as its services are offered upon request by developing countries, and the volume and specific nature of activities ultimately depends on countries’ requirements and needs.
  • The CTCN consists of two parts: a centre—a coordinating entity located in UN City Copenhagen—and a worldwide network of organizations that delivers CTCN services—both virtually and actually.

Statement Analysis

• Statement 1: Incorrect
  • It is also known by the name Azhagar Kovil and is one of the prominent temples situated at the foothills of Alagar hills in the state of Tamil Nadu.
  • It is dedicated to Lord Vishnu and is known for its intricate sculpting and mandapams.
• Statement 2: Correct
  • It was mentioned in epics such as Silappathikaram.
  • Alvars like Thirumangai Alvar, Peri Alvar, Nammalvar, Bhoothathalvar, Peyalwar, and Andal have also mentioned the glorious history of the shrine in their songs.
  • There are also inscriptions dating back to King Ashoka's rule. It is said that great Jain monk Ajjanandi had resided here along with his disciples.
  • This temple has a prominent place during the Pandyan reign.
  • It was during the rule of King Jatavarman Sundara Pandyan (1251-1270 A.D) that the vimana of the temple’s sanctum sanctorum was beautified with gold plates.
  • The massive tower seen at the entrance of the temple was also built during the reign of the Pandyan kingdom.
• Statement 3: Correct
  • King Thirumalai Naickar of the Nayaka dynasty also added many artistic features to this temple during his reign.
  • The kalyan mandapam of the temple especially showcases Nayaka art.
  • The Nayaka paintings depict episodes from the Mahabharata and the Ramayana and also scenes from Krishna-Leela. The Nayaks marked the golden period of Madurai when art, architecture, and learning flourished expansively.

Statement Analysis

• Statement 1: Incorrect
  • ARCs are registered under the RBI and regulated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act, 2002).
  • They function under the supervision and control of the RBI.
• Statement 2: Correct
  • An ARC is a specialized financial institution that purchases the bad debts of a bank at a mutually agreed value and attempts to recover those debts or associated securities by itself.
  • As per the RBI, ARC performs the functions namely Acquisition of financial assets, Change or takeover of Management or Sale or Lease of Business of the Borrower, Rescheduling of Debts, Enforcement of Security Interest, and Settlement of dues payable by the borrower.
  • ARCs take over a portion of the bank’s debts, which qualify as Non-Performing Assets (NPAs). Therefore, ARCs are involved in the business of asset reconstruction, securitisation, or both.
• Statement 3: Correct
  • All the rights previously held by the lender (the bank) in regard to the debt are transferred to the ARC. The required funds to purchase such debts can be raised from Qualified Buyers.
  • Qualified Buyers include Financial Institutions, Insurance companies, Banks, State Financial Corporations, State Industrial Development Corporations, trustees or ARCs registered under SARFAESI and Asset Management Companies registered under SEBI that invest on behalf of mutual funds, pension funds, FIIs, etc.
  • The Qualified Buyers are the only persons from whom the ARC can raise funds.

Statement Analysis

• Statement 1: Correct
  • Launch year- In 1993 at Tunis, Tunisia as the International Coordinating Committee of National Human Rights Institutions, it later got changed to GANHRI in 2016.
  • Headquarters- Geneva, Switzerland.
  • Vision- A world where everyone and everywhere fully enjoy their human rights.
  • Tripartite partnership- GANHRI-UNDP-OHCHR (Office of the United Nations High Commissioner for Human Rights) aims to strengthen NHRIs in their capacity to promote and protect human rights, individually and through their regional and global networks resulting in increased fulfilment of human rights for all people.
  • Members- 115 National Human Rights Institutions (NHRIs) from all regions of the globe and provides leadership and support in the promotion and protection of human rights.
  • Unique- It is the only non-UN body whose internal accreditation system is based on compliance with the 1993 Paris Principles that grants access to UN committees.
  • Paris Principles, 1993- It is the set of international standards which frame and guide the work of NHRIs, it was adopted by UN General Assembly (UNGA).
  • Rating- The rating is based on the subcommittee consisting of one A status NHRI representative from each of the regional networks.
  • Sub-Committee on Accreditation- It is a peer review process for initial accreditation, and re-accreditation every five years is managed by the subcommittee.
  • A status- It is granted to NHRIs that are in full compliance with the Paris Principle, they are entitled to vote or hold office in the GANHRI or its regional groups.
  • B status- It is given to NHRIs that partially comply with the Paris Principles. Institutions with B status can participate in GANHRI meetings but are unable to vote or hold governance positions.
• Statement 2: Incorrect
  • India- National Human Rights Commission has been granted “A” status by GANHRI.

• Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) is a comprehensive regulatory framework.
• Implemented by- European Union (EU)
• Aim- To ensure the safe use of chemicals and to protect human health and the environment.
• Evaluation- Companies must register chemicals with the European Chemicals Agency (ECHA), which assesses the information and the substances of very high concern may require authorization for use.
• Restriction- EU may restrict or phase out chemicals that pose significant risks.

• The sperm whale is dark blue-grey or brownish, with white patches on the belly.
• They are the largest of the toothed whales and have one of the widest global distributions of any marine mammal species. Hence, statement 1 is correct.
• They are found in temperate and tropical waters throughout the world. Hence, statement 2 is correct.
• They have the largest brains of any animal and live in matriarchal groups of about 10.
• They are listed as vulnerable in the International Union for Conservation of Nature (IUCN) Red List, mentioned in Appendix I of CITES and included in Schedule 1 of the Wildlife (Protection) Act, 1972. Hence, statement 3 is correct.

• Liquid nitrogen is primarily used as a food preservative as it increases the shelf-life of packaged foods. Hence, statement 1 is correct.
  • It expands 700 times when it evaporates, displacing oxygen in the food pack and preventing microbial action, improving shelf life and freshness.
• It is an inert, colourless, odourless cryogenic fluid. Hence, statement 2 is not correct.
• It is also used in cryotherapy for cancer treatment. It can treat many cancers, including those of the skin, bone, breast, cervical, eye, kidney, liver, lung, and prostate.

• Kenya is located in East Africa. Its terrain rises from a low coastal plain on the Indian Ocean to mountains and plateaus at its center.
• It is renowned for its wildlife habitats, including the Masai Mara, where annual migrations of wildebeest and zebras occur.
• The bones of one of the earliest human ancestors ever found were discovered in Kenya's Turkana Basin.
• It shares borders with Tanzania, Uganda, Ethiopia, and Somalia.
  

Hence, option b is correct.

• Articles 124(2) and 217 of the Constitution deal with the appointment of judges to the Supreme Court and High Courts, respectively. Hence, statement 1 is not correct.
• In August 2014, Parliament passed the Constitution (99th Amendment) Act, 2014 along with the NJAC Act, 2014, providing for the creation of an independent commission to appoint judges to the Supreme Court and high courts to replace the collegium system. Hence, statement 2 is correct.

• The Sundarbans hosts the largest mangrove forests in the world, lying on the delta of the Ganges, Brahmaputra, and Meghna rivers on the Bay of Bengal. Hence, statement 1 is correct.
• 40% of Sundarban lies in India and the rest in Bangladesh. Hence, statement 2 is correct.
• It was designated a UNESCO World Heritage site in 1987 (India) and 1997 (Bangladesh).
• Sundarban Wetland, India was recognised as the ‘Wetland of International Importance’ under the Ramsar Convention in January 2019. Hence, statement 3 is correct.

Hence, option c is correct.