Ans: A

Exp: 

The Patna High Court set aside the amendments passed by the Bihar legislature in 2023 to increase the reservation Backward Classes (BC), Extremely Backward Classes (EBC), Scheduled Caste (SC) and Scheduled Tribe (ST) from 50% to 65% in educational institutions and government jobs.

Constitutional Basis for Reservations:

• Equality & Social Justice: The Indian Constitution aims to balance the principles of equality and social justice.
• Statement 1 is correct: Article 15 prohibits the state from discriminating against citizens on  grounds only of religion, race, caste, sex, and place of birth..
• Statement 2 is correct: Article 16(4) and 15(4): These articles empower the state to make provisions for reservation in favor of backward classes and socially and educationally backward classes, including Scheduled Castes and Scheduled Tribes. 
  • Article 15(4) of the Constitution enables the State to make special provisions for the advancement of any socially and educationally backward classes of citizens or for the Scheduled Castes and the Scheduled Tribes.

Landmark Cases Reservations in India:

• Statement 3 is incorrect: Indra Sawhney Case (1992): 
  • Upheld 27% OBC reservation.
  • Introduced the 50% cap on total reservations.
  • Creamy layer concept for OBCs.
• Janhit Abhiyan Case (2022): Upheld 10% EWS (Economically Weaker Sections) reservation.

Ans: A

Exp:

Pursuant to the announcement made in the Union Budget 2021-22, the National Monetisation Pipeline (NMP) – listing potential core assets of Central Government Ministries/PSEs for monetization during the period 2021-22 to 2024-25 – was prepared by NITI Aayog in collaboration with the concerned Infrastructure Ministries. 

About National Monetisation Pipeline:

• Statement 1 is incorrect: Under the Union Budget 2021-22, Monetization of Assets has been identified as one of the three pillars for enhanced and sustainable infrastructure financing in the country. 
  • The Budget also envisioned preparation of a “National Monetisation Pipeline” (NMP) to provide a direction to the monetisation initiative and visibility of investors. 
  • In pursuance of the same, NITI Aayog was tasked with creation of the National Monetisation Pipeline (NMP) for brownfield core infrastructure assets.

• Statement 2 is incorrect: The NMP included assets with monetisation potential of Rs. 6 lakh crore during the four year period. 
  • The total target for the first two years i.e. 2021-22 and 2022-23 under NMP was around Rs. 2.5 lakh crore, against which around Rs. 2.30 lakh crore was achieved.
• Statement 3 is correct: This pipeline is intended to support investments under the National Infrastructure Pipeline (NIP) worth Rs 111 trillion in six years through FY25. The timeline for the NMP has been strategically set to be co-terminus with the remaining period under the National Infrastructure Pipeline (NIP).

Ans: D

Exp: 

Recently, As many as 34 people had died after consuming spurious liquor (methanol) in Kallakurichi district of Tamil Nadu while more than 80 others were receiving treatment in hospitals.

About Methanol:

• • Methanol, also known as methyl alcohol, is a light, colorless, flammable liquid with a distinct odor.
  • Methanol is also known as methyl hydrate, carbinol, wood alcohol, or wood spirit because it was previously produced by destructive distillation of wood. 
  • Increasingly, methanol is being employed around the globe in many innovative applications like: 
    • Using methanol as fuel for cars and trucks, marine vessels, boilers, cookstoves, and kilns.
    • It’s used as an industrial solvent to create many products, including:
      • Inks, resins, adhesives, and dyes.
      • Lacquers, paints, and varnishes.
      • Cements.
      • Plastics.

• Industrial coatings. Hence, option (d) is correct.

Ans: C

Exp: 

The Iberian Lynx (Lynx pardinus) is the proverbial ‘cat with nine lives’. The International Union for Conservation of Nature (IUCN) moved its conservation status from ‘Endangered’ to ‘Vulnerable’.

About Iberian lynx:

• • The Iberian lynx is the world’s most endangered feline species. 
  • Characteristic Features: Of all lynx, the Iberian has the most heavily spotted coat. 
    • The coat is sparse, short, and coarse. The coat’s base color is bright yellowish red or tawny, overlaid with dark brown or black spots. 
  • Statement 1 is incorrect: Habitat: The Iberian lynx lives in Mediterranean forests composed of native oaks and abundant undergrowth and thickets. It favours a mixture of dense scrub for shelter and open pasture for hunting. Iberian lynx are found only in two small areas of southwest Spain on the Iberian Peninsula, west of the Pyrenees mountains. 

• Conservation Status: 

• • Statement 2 is incorrect: The Iberian lynx is considered Vulnerable by the International Union for Conservation of Nature (IUCN).
  • Statement 3 is correct: The Iberian lynx is protected under Appendix II of the Convention on International Trade in Endangered Species (CITES).

Ans: A

Exp:

The Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10.

About the Insolvency and Bankruptcy Code (IBC), 2016

• • Statement 1 is correct: Insolvency and Bankruptcy Code was enacted in 2016 to provide a robust framework for debt resolution through corporate insolvency resolution processes (CIRP) and liquidation. 
  • It seeks to maximize asset value and distribute fair proceeds among creditors.
  • The Insolvency and Bankruptcy Code provides for a time-bound resolution of firms, addressing the issue of firm exit in India. 

• Objectives of Insolvency and Bankruptcy Code:

• • • Maximise the value of the debtor’s assets
    • Ensure timely and effective resolution of Insolvency and Bankruptcy Code cases
    • Balance the interests of all stakeholders, including creditors, debtors, and staff
    • Statement 2 is correct: Provide for a framework to deal with cross-border insolvency cases.

• Adjudicating Authority: 

• • Statement 3 is incorrect: IBC does not exclusively address insolvency cases for individuals and unlimited liability partnership firms. The IBC covers a broader spectrum, including both corporate entities and individuals.
  • Debt Recovery Tribunal (DRT): It shall be the Adjudicating Authority with jurisdiction over individuals and unlimited liability partnership firms. 
    • Appeals from the order of DRT shall lie to the Debt Recovery Appellate Tribunal (“DRAT”).
  • National Company Law Tribunal (NCLT): It shall be the Adjudicating Authority with jurisdiction over companies and limited liability entities. 
    • Appeals from the order of NCLT shall lie to the National Company Law Appellate Tribunal (NCLAT).
    • NCLAT shall be the appellate authority to hear appeals from the Regulator’s orders regarding insolvency professionals or information utilities.