QUIZ – 2020: Insights Current Affairs Quiz, 30 July 2021 – INSIGHTSIAS

Solution: a)

The much-awaited bad bank — National Asset Reconstruction Company Ltd (NARCL) — has been incorporated, with the Corporate Affairs Ministry giving legal recognition.

The capital structure will have a component of both equity and debt. Public sector banks led by Canara Bank (which is likely to have 12 per cent stake) are expected to hold controlling stake in NARCL.

The other banks that are expected to pump in capital include State Bank of India, Bank of Baroda, Bank of India and IDBI Bank.

The government will not have any direct equity contribution to NARCL.

Source

Solution: b)

The Arms Trade Treaty (ATT) is a multilateral treaty that regulates the international trade in conventional weapons.

The treaty calls for the international sale of weapons to be linked to the human rights records of buyers.

What types of conventional weapons deals does the Arms Trade Treaty seek to regulate?

• Conventional weapons covered by the UN Arms Trade Treaty include tanks and other armored combat vehicles, artillery, attack helicopters, naval warships, missiles and missile launchers, and small arms.
• It also establishes common international standards for the regulation of the international trade in ammunition, weapons parts, and arms components.
• The treaty does not regulate the domestic sale or use of weapons in any country. It also recognizes the legitimacy of the arms trade to enable states to provide for their own security.

Solution: b)

Southern Ocean is regarded as the second-smallest of the five principal oceanic divisions: smaller than the Pacific, Atlantic, and Indian oceans but larger than the Arctic Ocean.

While the other oceans are defined by the continents that fence them in, the Southern Ocean is defined by a current. 

Scientists estimate that the Antarctic Circumpolar Current (ACC) was established roughly 34 million years ago, when Antarctica separated from South America.

The Antarctic Circumpolar Current (ACC) is the strongest current system in the world oceans, linking the Atlantic, Indian and Pacific basins.

The ACC flows from west to east around Antarctica, in a broad fluctuating band roughly centered around a latitude of 60 degrees south—the line that is now defined as the northern boundary of the Southern Ocean. Inside the ACC, the waters are colder and slightly less salty than ocean waters to the north.

Extending from the surface to the ocean floor, the ACC transports more water than any other ocean current. It pulls in waters from the Atlantic, Pacific, and Indian Oceans, helping drive a global circulation system known as the conveyor belt, which transports heat around the planet.

Source

Solution: c)

India has been designated the ‘Vice-Chair’ of Good Laboratory Practice (GLP) Working Group of the Organisation for Economic Co-operation and Development (OECD).

Good Laboratory Practice (GLP) is a quality system, which has been evolved by Organisation for Economic Co-operation and Development (OECD) to ensure that safety data generated on various chemicals like industrial chemicals, pharmaceuticals (Human and Veterinary), agrochemicals, cosmetic products, food/ feed additives, and medical devices, etc., can be relied upon by regulatory authorities.

The Department of Science and Technology (DST), Government of India, established the National GLP Compliance Monitoring Authority (NGCMA) with the approval of the Union Cabinet on April 24, 2002.

NGCMA is the National body which grants GLP certification to test facilities (TFs) conducting safety studies on new chemicals of the above-mentioned categories in accordance with OECD Principles of GLP and OECD Council norms.

Solution: c)

Agricultural Produce Market Committee (APMC) is a statutory market committee constituted by a State Government in respect of trade in certain notified agricultural or horticultural or livestock products, under the Agricultural Produce Market Committee Act issued by that state government.