Ans: B

Exp: 

The United Nations Educational, Scientific and Cultural Organization (UNESCO) in the 18th session (held in Botswana on 6th December 2023) of the Intergovernmental Committee for Safeguarding of Intangible Cultural Heritage, approved the inclusion of ‘Garba’ in its ‘Representative List of Intangible Cultural Heritage (ICH) of Humanity’.

The Intergovernmental Committee for Safeguarding of Intangible Cultural Heritage of UNESCO publishes and keeps up to date following lists:

• Representative List of the Intangible Cultural Heritage of Humanity– in order to ensure better visibility of the intangible cultural heritage and awareness of its significance and to encourage dialogue which respects cultural diversity.
• List of Intangible Cultural Heritage in Need of Urgent Safeguarding– with a view to taking appropriate safeguarding measures for Intangible Cultural Heritage in Need of Urgent Safeguarding.

Garba is a type of Indian dance commonly performed at festivals (especially – Navaratri) and on other special occasions in the state of Gujarat, India. It is a joyful style of dance based on a circular pattern and characterised by a sweeping action from side to side. Garba dances celebrate fertility, honour womanhood, and pay respect to any of an array of mother goddesses. ‘Garba’ is the 15th Intangible Cultural Heritage element from India to join this list. Hence, pair 1 is incorrect.

The 14 other elements from India that have been inscribed in UNESCO’s representative list of ICH are:  

1. Ramlila
2. Yoga
3. Vedic chanting
4. Kutiyattam-Sanskrit Theatre of Kerala. Hence, pair 3 is incorrect.
5. Ramman- religious festival and ritual theatre of Uttarakhand. Hence, pair 2 is correct.
6. Mudiyettu-ritual theatre and dance drama of Kerala
7. Kalbelia folk songs and dances of Rajasthan 
8. Chhau dance of eastern India
9. Buddhist chanting of Ladakh
10. Sankirtana, ritual singing, drumming and dancing of Manipur
11. The traditional brass and copper craft of utensil making of Thatheras of Jandiala Guru, Punjab
12. Nawrouz
13. Kumbh Mela
14. Durga Puja in Kolkata.

Ans: A

Exp:

Statement 1 is correct: To take ahead the ‘LiFE’ – ‘Lifestyle for Environment’ movement, the Ministry of Environment, Forest and Climate Change, India has introduced two pioneering initiatives:

• The Green Credit Program (GCP) 
• The Ecomark Scheme

Statement 2 is incorrect: The Green Credit Program (GCP ) is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies. The Indian Council of Forestry Research and Education (ICFRE) serves as the GCP Administrator, responsible for program implementation, management, monitoring, and operation. In its initial phase, the GCP focuses on two key activities: 

• Water Conservation
• Afforestation

The Green Credit Registry and trading platform, being developed by ICFRE along with experts, would facilitate the registration of projects, their verification, subsequent issuance of Green Credits and thereafter, the buying and selling of Green Credits. The Administrator will verify the activity through a designated agency, with self-verification for small projects. Once verification is complete, the Administrator will grant a Green Credit certificate which will be tradable on the Green Credit platform.

Ans: B

Exp:

Alternative Investment Fund (AIF) is a special investment category that differs from conventional investment instruments. It is a privately pooled fund. Generally, institutions and High Networth Individuals (HNIs) invest in Alternative Investment Funds as substantial investments are required.  These investment vehicles adhere to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. AIFs can be formed as a company, Limited Liability Partnership (LLP), trust, etc. 

Statement 1 is incorrect: Resident Indians, NRIs, and foreign nationals can invest in these funds. The minimum investment limit is Rs. 1 crore for investors, whereas the minimum investment amount for directors, employees, and fund managers is Rs. 25 lakh.

Statement 2 is correct: AIFs come with a minimum lock-in period of three years. Also, the number of investors in every scheme is restricted to 1000. In the case of an angel fund, no scheme shall have more than forty-nine angel investors.

AIFs are not directly related to stock markets. Volatility in these funds is less, particularly when compared with traditional equity investments. So it might be suitable for risk-averse investors looking for stability.

Statement 3 is correct: Hedge funds are category-III AIFs that pool money from accredited investors and institutions. These funds invest in both domestic and international debt and equity markets. They adopt an aggressive investment strategy to generate returns for investors.

Ans: C

Exp:

Twenty blocks of critical minerals are currently on auction for commercial mining by the private sector. These 20 mineral blocks spread over eight states- Tamil Nadu, Odisha, Bihar, Uttar Pradesh, Gujarat, Jharkhand, Chhattisgarh, and Jammu & Kashmir contain lithium ore, nickel, copper, molybdenum, and rare earth elements (REEs) etc. 

Only four of these 20 blocks are being auctioned for a Mining Licence (ML), which means that once the licence is granted, the licensee can begin mining operations after obtaining the requisite clearances. The remaining 16 blocks are being auctioned for a Composite Licence (CL), which allows the licensee to conduct further geological exploration of the area to ascertain evidence of mineral contents.

Statement 1 is correct: This is the first time that rights related to the mining of lithium ore are being auctioned to private parties.  

The two blocks of lithium reserves, one each in Jammu & Kashmir and Chhattisgarh, are up for auction for a Composite Licence (CL)

Statement 2 is correct: Critical minerals are the resources of the future and essential for the country’s economic development and national security. The Central government has identified 30 of these critical minerals and created a legal framework for their mining in India.

Ans: C

Exp:

Mikko Ollikainen, the head of the Adaptation Fund, expressed worry about not receiving adequate funds at COP28. 

Statement 1 is correct: The Adaptation Fund (AF) was set up under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC). It was established in 2001 and officially launched in 2007 at CoP 7 in Marrakech, Morocco. 

The Adaptation Fund has only received around half of the fund at the ongoing COP28 compared to what they minimally require. 

Statement 2 is correct: The Adaptation Fund finances climate change adaptation and resilience activities in developing countries that are vulnerable to the adverse effects of climate change and are Parties to the Kyoto Protocol. The Fund is financed in part by government and private donors and also from a two percent share of proceeds of Certified Emission Reductions (CERs) issued under the Protocol’s Clean Development Mechanism (CDM) projects. The Fund can also accept other sources of funding, including those from sovereign governments, foundations, non-governmental organisations, private corporations and individuals.