Ans: D

Exp:

In the wake of the recent landslides in Kerala, a crucial conversation has emerged around whether subnational entities can seek compensation through the United Nations Framework Convention on Climate Change (UNFCCC)’s Loss and Damage Fund. 

• Statement 1 is Correct:The Loss and Damage Fund (LDF) was established at the 2022 UNFCCC Conference (COP27) in Egypt.
• To provide financial support to regions suffering both economic and non-economic losses caused by climate change. 
  • These include extreme weather events and slow-onset processes, such as rising sea levels.

• It is based on the Polluters Pay Principle which holds accountable entities responsible for environmental damage, making them liable for expenses related to remedial measures and compensating those affected by their actions. 
• Statement 2 is Correct: The World Bank will serve as the “interim host” for the fund for a duration of four years, operating in line with the principles of the UNFCCC and the Paris Agreement.

Ans: D

Exp:

Public Accounts Committee (PAC) to hold ‘performance review’ of regulatory bodies such as the Securities and Exchange Board of India (SEBI).

About Public Accounts Committee (PAC):

• Statement 1 is Correct:The PAC is one of the oldest Parliamentary committees that was established in 1921 following the Montagu Chelmsford Reforms. 
  • The PAC is constituted every year under Rule 308 of the Rules of Procedure and Conduct of Business in Lok Sabha.
• Chairperson: W M Hailey was its first Chairperson.
• Statement 2  is CorrectThe Chairperson is appointed by the Speaker of the Lok Sabha. Since 1967, the chairperson of the committee is selected from the opposition.
• Statement 3  is Correct:A minister is not eligible to be elected as a member of the Committee.
• The PAC is constituted every year under Rule 308 of the Rules of Procedure and Conduct of Business in Lok Sabha.

Ans: C

Exp:

Recently, the Indian Prime Minister visited Singapore to witness the exchange of the Memorandum of Understanding on an India-Singapore Semiconductor Ecosystem Partnership.

• • Singapore has a well-developed semiconductor industry.Nine of the world’s top 15 semiconductor firms have set up shop in Singapore. 
  • Statement 1 is Correct:Singapore contributes around 10% of the global semiconductor output, along with 5% of the global wafer fabrication capacity and 20% of semiconductor equipment production

• Statement 2 is Correct: India and Singapore are members of a number of forums, including East Asia Summit, G20, Commonwealth, IORA (Indian Ocean Rim Association) and IONS (Indian Ocean Naval Symposium).

• Key Agreements signed between India and Singapore:

• • The Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore was signed in 2005 and renewed in 2018.

• Double Taxation Avoidance Agreement (1994, Protocols signed in 2011)

Ans: A

Exp: 

1. It is a contributory pension scheme, and will have contributions by parents and guardians. Hence statement 1 is correct.
2. It will allow parents/guardians to open an NPS account for their children/wards and contribute regularly towards a savings pool until the minor turns 18 years. Hence statement 2 is Incorrect.
3. When the minor turns 18, the account can be converted into a regular NPS.

Ans: A

Exp: 

A P8I aircraft of the Indian Navy has reached France to participate in ‘Exercise Varuna’ with the French Navy.

• • It is the bilateral Naval Exercise between India and France which was initiated in 1993. Hence Statement 1 is Incorrect 
  • It was named ‘VARUNA’ in 2001 and has become a hallmark of India France strategic bilateral relationship.
  • The 2024 edition of Exercise Varuna, is scheduled in the Mediterranean Sea. Hence statement 2 is not correct.
  • It will include advanced tactical exercises underscoring the deepening synergy and interoperability between the two navies. 
  • Other Indo-French Joint Exercises:

• Desert Knight-21 and Garuda (Air exercise)

• Shakti (Army exercise)