[Mission 2022] QUIZ – 2021: Insights Current Affairs Quiz, 25 November 2021 – INSIGHTSIAS

Solution: b)

The central government has appointed KV Kamath, to head the National Bank for Financing Infrastructure and Development (NaBFID), a newly set up DFI in India.

Parliament in March, 2021 passed a bill to set up NaBFID to fund infrastructure projects in the country.

It will have both developmental and financial objectives.

The bank is set up to support the development of long-term non-recourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.

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Solution: b)

Freedom of navigation (FON) is a principle of customary international law that ships flying the flag of any sovereign state shall not suffer interference from other states, apart from the exceptions provided for in international law. This right is now also codified as Article 87(1)a of the 1982 United Nations Convention on the Law of the Sea.

UN Convention on the Law of the Sea (UNCLOS) does not authorise other States to carry out in the Exclusive Economic Zone and on the continental shelf, military exercises or manoeuvres, in particular those involving the use of weapons or explosives, without the consent of the coastal state.

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Solution: d)

To tap the huge potential of tourism, the Railways announced the ‘Bharat Gaurav’ scheme, under which theme-based tourist circuit trains, on the lines of the Ramayana Express, can be run either by private or State-owned operators.

Till now, the Railways had passenger segments and goods segments. Now, we will have a third segment for tourism — ‘Bharat Gaurav’ train. About 3,033 coaches or about 150 trains have been earmarked.

Through this policy, which offers operators the “Right of Use” of its rakes and infrastructure, the Railways has liberalised and simplified a part of operations that was otherwise carried out mostly by the Indian Railway Catering and Tourism Corporation (IRCTC).

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Solution: a)

The recent election of India’s candidate, Bimal Patel, to the United Nation’s International Law Commission (ILC) is noteworthy because this is the first time that India has nominated a professor of international law to the ILC, a body responsible for the codification and progressive development of international law. Mr. Patel’s predecessor, Aniruddha Rajput, was a practitioner. Before Mr. Rajput’s election, for several decades India routinely nominated retired officials from the Legal and Treaties Division (L&T) of the Ministry of External Affairs (MEA).

The Statute of the International Law Commission provides that the Commission shall consist of 34 members “who shall be persons of recognised competence in international law.”

The members of the Commission are to be elected by the General Assembly from a list of candidates nominated by the Governments of States Members of the United Nations.

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Solution: c)

The second way to classify the basket of products mapped under IIP.

As such, there are 6 sub-categories:

• Primary Goods (consisting of mining, electricity, fuels and fertilisers)
• Capital Goods (e.g. machinery items)
• Intermediate Goods (e.g. yarns, chemicals, semi-finished steel items, etc)
• Infrastructure Goods (e.g. paints, cement, cables, bricks and tiles, rail materials, etc)
• Consumer Durables (e.g. garments, telephones, passenger vehicles, etc)
• Consumer Non-durables (e.g. food items, medicines, toiletries, etc)