[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz , 10 March 2022

Solution: c)

Parliament alone is competent to deal with the setting up of legislature, executive and judicial organs of the State.

Only Parliament has the authority to notify the boundaries of the state as well as the capital city.

Under the Public trust doctrine, the state has a duty as a trustee under Art 48A to protect and improve the environment and safeguard the forests and wildlife of the country. This Public trust doctrine has grown from Article 21 of the Constitution of India.
Public trust doctrine serves two purposes: it mandates affirmative state action for effective management of resources and empowers citizens to question ineffective management of natural resources.

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Solution: d)

India is the world’s third biggest oil importer. India meets nearly 80% of its needs through oil imports.

India imported 43,400 bpd oil from Russia in 2021, about 1% of overall its imports.

Solution: c)

The Cabinet approved changes to India’s foreign direct investment (FDI) policy to allow global investors to participate in the initial public offering of Life Insurance Corporation of India (LIC) shares expected to be launched soon.

As per the present FDI policy, the FDI ceiling for public sector banks is 20% on government approval route.

A Red Herring Prospectus, or offer document, is filed by a company to SEBI (Securities and Exchange Board of India) when it plans to raise money from the public by selling shares of the company to investors. The document is very useful to investors because it provides detailed information about the company’s business operations, financials, promoters and the company’s objective for raising funds by filing an IPOs.

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Solution: a)

In a first, Union Law Secretary Anoop Kumar Mendiratta was elevated as a judge of the Delhi High Court. His name was recently recommended by the Supreme Court collegium.

The President can appoint duly qualified persons as additional judges of a high court for a temporary period when: there is a temporary increase in the business of the high court; or there are arrears of work in the high court.

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Solution: c)

The current OPEC members are the following: Algeria, Angola, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia (the de facto leader), the United Arab Emirates and Venezuela. Ecuador, Indonesia and Qatar are former members.