Daily Current Affairs Quiz: September 13, 2023

ANSWER: C

ANSWER: A

ANSWER: D

ANSWER: A

• Small island nations seek protection from ocean pollution, climate change and appeal to the United Nations maritime tribunal recently.
• A group of 9 SIDS countries will urge the International Tribunal for the Law of the Sea (ITLOS) to rule on whether greenhouse gas emissions absorbed by the marine environment should be considered pollution.
• It will also seek the tribunal’s advisory opinion on the obligations countries have to prevent it.
• Small Island Developing States (SIDS) – Group of low-lying island nations, home to approximately 65 million people.
• They are extremely vulnerable to the impacts of climate change despite being responsible for less than 1% of global greenhouse gas emissions.

ABOUT THE INTERNATIONAL TRIBUNAL FOR THE LAW OF THE SEA:

• It is an independent judicial body established by the 1982 United Nations Convention on the Law of the Sea.
• Composition
  • The Tribunal is composed of 21 independent members.
  • Members elected by secret ballot by the States Parties to the Convention.
  • Each State Party may nominate up to two candidates.
• Jurisdiction
  • It has jurisdiction over any dispute concerning the interpretation or application of the Convention and over all matters specifically provided for in any other agreement which confers jurisdiction on the Tribunal.
  • Disputes relating to the Convention may concern the delimitation of maritime zones, navigation, conservation and management of the living resources of the sea, protection and preservation of the marine environment and marine scientific research.
• The Tribunal is open to States Parties to the Convention(i.e. States and international organisations which are parties to the Convention).
• It is also open to entities other than States Parties, i.e., States or intergovernmental organisations which are not parties to the Convention, and to state enterprises and private entities.
• The seat of the Tribunal is in the City of Hamburg, Germany.

ANSWER: A

• The Reserve Bank of India (RBI) has proposed setting up a Self Regulatory Organisation (SRO) for fintechs to address several key objectives and concerns within the fintech industry.

ABOUT SELF-REGULATORY ORGANISATION:

• It is a non-governmental organisation that sets and enforces rules and standards relating to the conduct of entities in the industry (members).
• Aim: Protecting the customer and promoting ethics, equality, and professionalism.
• These typically collaborate with all stakeholders in framing rules and regulations.

WHAT ARE THE FUNCTIONS OF AN SRO?

• The recognised SRO will serve as a two-way communication channel between its members and the RBI.
• It will work towards establishing minimum benchmarks and standards and help instil professional and healthy market behaviour among its members.
• These will impart training to the staff of its members and others and will conduct awareness programmes.
• It will establish a uniform grievance redressal and dispute management framework across its members.

ANSWER: D

• The Reserve Bank of India (RBI) recently announced the issue price for the upcoming Sovereign Gold Bond (SGB) Tranche 2.

ABOUT SOVEREIGN GOLD BOND SCHEME:

• SGBs were introduced by the Government of India in 2015 under the Gold Monetization Scheme.
• They are issued by the RBI in different tranches during a financial year.
• These securities are made available via banks, brokers, post offices and online platforms.
• A discount of INR 50 per gram is offered to investors who purchase them digitally to promote buying SGBs online.
• Investors can either buy the bonds in physical, digital or dematerialized format.
• SGBs have a term of eight years and an interest rate of 2.5% per annum paid on a half-yearly basis.
• On maturity i.e. after 8 years, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price shall be based on simple average of closing price of gold of previous 3 business days.
• Early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates.
• Every individual purchase is restricted to a maximum of 4kgs per financial year and in case of a trust, it is restricted to
• The only document mandatory for the purchase of SGBs is a PAN card without which no investment in these bonds is permitted.

ANSWER: B

• India has proposed to launch the G20 satellite mission for environment and climate observation in the recently held G20 Summit.
• It aimed to help the countries of Global south for environment and climate observation.
• The climate and weather data obtained from this will be shared with all the countries, especially the countries of the Global South.
• India invites all G-20 countries to join this initiative.
• Other missions – India had earlier launched a satellite for the benefit of the SAARC countries, popularly called SAARC Satellite, in 2017 as a part of its ‘neighbourhood first policy.
• India has also been working with the US on the world’s most sophisticated dual-band NASA-ISRO satellite (NISAR).
• India and U.S. commenced discussions on joint efforts for the International Space Station in 2024.

ANSWER: C

• National Green Tribunal (NGT) has prohibited operation of cruise and other motor propelled boats in Upper Lake (Bhoj Wetland now called Ramsar site) and other wetlands.

ABOUT:

• The Bhoj Wetland is situated in the Indian state of Madhya Pradesh, specifically in the capital city of Bhopal.
• The Bhoj wetland, also known as Bhopal Lake, is a Ramsar site, designated as a wetland of international importance under the Convention of Wetlands signed in 1971.
• Bhoj wetland received Ramsar site status in 2002, highlighting its global significance for conservation.
• Environment Protection Act, 1986, enacted to safeguard the environment and empower the Central Government to prevent pollution and address environmental issues.
• The wetland comprises two major lakes – the Upper Lake and the Lower Lake. These two lakes together form the Bhoj Wetland.
• The wetland is rich in biodiversity, hosting macrophytes, phytoplankton, zooplankton, various fish species, resident and migratory birds, insects, reptiles and amphibians.

ANSWER: B

• The Government of Himachal Pradesh has announced that the Families sheltered in relief camps in rural and urban areas here in the state would be provided Rs 5,000 to Rs 10,000 respectively as monthly rent.
• The rent admissible shall be Rs 5,000 for families seeking accommodation in rural areas and Rs 10,000 for those seeking it in urban areas and will be paid in direct benefit transfer (DBT) mode to the eldest female member of the family.
• The scheme will be in force till March 31, 2024.

ANSWER: D

• The Himachal Pradesh government is making significant efforts to attract 5 crore tourists annually by focusing on adventure, religious, and natural tourism infrastructure.
• The government plans to spend Rs 2,500 crore on tourism development with the assistance of the Asian Development Bank (ADB).
• A substantial portion of this amount, Rs 1,300 crore, has already been approved. Additionally, a budget provision of Rs 400 crore has been made for promoting tourism activities in the current financial year
• The state plans to introduce hi-tech buses for tourists, similar to those found in foreign countries, to offer comfortable and scenic transportation to tourist destinations.