[Mission 2023] QUIZ : Insights Current Affairs Quiz , 23 July 2022

Solution: b)

Karnataka has bagged the top rank in NITI Aayog’s India Innovation Index, 2022, which determines innovation capacities and ecosystems at the sub-national level. The State has held this position, under the Major States category, in all three editions of the Index so far.

Pointing out that India’s average innovation score is arguably insufficient, given the country’s ambitious targets to be named among the top 25 nations in the Global Innovation Index, the report by the government think tank has recommended measures, such as increasing Gross Domestic Expenditure on R&D (GDERD), promoting private sector participation in R&D and closing the gap between industry demand and what the country produces through its education systems.

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Solution: d)

• Asian Infrastructure Investment Bank (AIIB) is headquartered in Beijing.
• It commenced operations in January 2016.
• It is a development bank with a mission to improve the economic and social outcomes in Asia.
• India is the second largest shareholder in AIIB after China and is also the largest recipient of funds from the multilateral agency.
• Membership in AIIB shall be open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
• Unlike other MDBs (multilateral development bank), the AIIB allows for non-sovereign entities to apply for AIIB membership,assuming their home country is a member.

AIIB Project Preparation Special Fund:

• Established in June 2016, the Project Preparation Special Fund (Special Fund) is a multi-donor facility with the primary purpose of supporting eligible AIIB members—especially low-income members—prepare bankable infrastructure projects AIIB may finance.
• The Special Fund provides technical assistance grants for preparing bankable infrastructure projects.Through these grants, clients can hire experts and consultants to carry out the required preparation work.

Solution: a)

• The International Criminal Court (ICC), located in The Hague, is the court of last resort for prosecution of genocide, war crimes, and crimes against humanity.
• It is the first permanent, treaty based, international criminal court established to help end impunity for the perpetrators of the most serious crimes of concern to the international community.
• Its founding treaty, the Rome Statute, entered into force on July 1, 2002.
• Funding: Although the Court’s expenses are funded primarily by States Parties, it also receives voluntary contributions from governments, international organisations, individuals, corporations and other entities.
• India is a non-state party and non-signatory. 

Composition and voting power:

• The Court’s management oversight and legislative body, the Assembly of States Parties, consists of one representative from each state party.
• Each state party has one vote and “every effort” has to be made to reach decisions by consensus. If consensus cannot be reached, decisions are made by vote. The Assembly is presided over by a president and two vice-presidents, who are elected by the members to three-year terms.

The International Criminal Court (ICC) investigates and, where warranted, tries individuals charged with the gravest crimes of concern to the international community: genocide, war crimes, crimes against humanity and the crime of aggression.

Solution: b)

Foreign investment in India is regulated under codified foreign exchange regulations, sector specific policies/regulations, government policies as well as International agreements. Primarily, foreign investment is regulated through the Foreign Exchange Management Act, 1999 as amended from time to time and rules/regulations issued thereunder.

Foreign Direct Investment (FDI) is the investment through capital instruments by a person resident outside India (a) in an unlisted Indian company; or (b) in 10 percent or more of the post issue paid-up equity capital on a fully diluted basis of a listed Indian company.

Foreign Portfolio Investment is any investment made by a person resident outside India in capital instruments where such investment is (a) less than 10 percent of the post issue paid-up equity capital on a fully diluted basis of a listed Indian company or (b) less than 10 percent of the paid up value of each series of capital instruments of a listed Indian company.

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Solution: d)

The Supreme Court has asked the Government if it will create an Indian Environmental Service (IES) as recommended by a committee headed by former Cabinet secretary T.S.R Subramanian.

The Subramanian committee was set up in August 2014 to review the country’s green laws and the procedures followed by the Ministry of Environment, Forest and Climate Change (MoEF&CC).