Ans: a

Exp: 

Recently, a portion of the Virupaksha temple in Karnataka collapsed following torrential rains. Located at the historical site of Hampi, the temple’s pavilion or the saalu mantap was damaged, leading some conservationists to blame Archaeological Survey of India (ASI) officials for allegedly neglecting its protection and conservation.

Virupaksha Temple (Hampi)

• Statement 1 is incorrect: The main enshrine  is dedicated to Lord Virupaksha, an avatar of Lord Shiva.
• Statement 2 correct: The temple was constructed by Lakkan Dandesha, a commander under Deva Raya II of the Vijayanagara Empire
• Statement 3 is incorrect: The temple is built in the Dravidian style with extensive inner and outer enclosures and three gates.
• The inscriptions suggest that the earliest shrine, dated to the ninth-tenth centuries, was substantially enlarged with the establishment of the Vijayanagara architecture empire. 
• The hall in front of the main shrine was built by Krishnadeva Raya to mark his accession. 
  • This was decorated with delicately carved pillars. 
  • He is also credited with the construction of the eastern gopuram. 

Ans: c

Exp:

Severe cyclonic storm Remal made landfall between the coasts of West Bengal and Bangladesh, unleashing winds up to 135 kmph. 

Why does the Bay of Bengal experience more cyclones than the Arabian Sea?

• Statement 1 is Correct: The Bay of Bengal experiences more cyclones than the Arabian Sea.
• Heat Transfer: The Bay of Bengal receives a larger amount of heat due to river discharge and the North-East monsoon, leading to higher sea surface temperatures, which are conducive for cyclone formation.
• Statement 2 is Incorrect: Geographical Location: The Bay of Bengal’s wider and shallower helps in maintaining the intensity of cyclones, while the Arabian Sea’s narrow and deep doesn’t support cyclone intensification.
• Wind Shear: The Arabian Sea has higher vertical wind shear (difference in wind velocity at different heights) which is not favorable for cyclone formation, while the Bay of Bengal has lower wind shear.
• Monsoon Winds: The South-West monsoon winds in the Arabian Sea move in the same direction as cyclones, reducing their intensity. In contrast, the North-East monsoon winds in the Bay of Bengal move in the opposite direction, helping cyclones gain energy and intensify.
• Ocean Currents: The ocean currents in the Bay of Bengal aid in the intensification of cyclones, while those in the Arabian Sea do not.

Ans: a

Exp:

Recent, World Intellectual Property Organization (WIPO) treaty on intellectual property, Genetic resources and associated traditional knowledge, is a significant win for countries of the global South and for India, which is a mega biodiversity hotspot with abundance of traditional knowledge, and wisdom. 

About WIPO:

• Statement 1 is correct: WIPO was created in 1967 “to encourage creative activity, to promote the protection of intellectual property throughout the world”.
• WIPO currently administers 26 international treaties.
• It is headquartered in Geneva, Switzerland.
• Every year “World Intellectual Property Day” is celebrated on 26th April.
• Statement 2 is incorrect: WIPO currently has 191 member states. India joined WIPO in 1975.
• Publications By WIPO: Global Innovation Index (GII)
• WIPO shapes international IP rules, protects IP globally, connects IP systems, enables IP use for development, and provides IP information.

Ans: b

Exp: 

Recently, twelve nations have signed the Zero Debris Charter at the ESA/EU Space Council, solidifying their commitment to the long-term sustainability of human activities in Earth orbit. In addition to the 12 countries, the European Space Agency also signed the Zero Debris Charter as an International Organisation (IGO).

About Zero Debris Charter:

• Origin: The Charter was unveiled at the European Space Agency (ESA) Space Summit in Seville in November 2023
• Signatories: Initially, twelve nations and the European Space Agency (ESA) as an International Organisation (IGO) signed the Charter. The countries include Austria, Belgium, Cyprus, Estonia, Germany, Lithuania, Poland, Portugal, Romania, Slovakia, Sweden, and the United Kingdom.
• Goal: The main goal of the Charter is to become debris-neutral in space by 2030. This means that the amount of debris created by space activities should be equal to or less than the amount of debris removed.
• ESA’s Role: The ESA has committed to a Zero Debris approach, driving a comprehensive internal transformation towards more sustainable practices. As part of its efforts, ESA has facilitated the community-led development of the Zero Debris Charter.
• Space Debris Issue: ESA estimates that there are currently more than one million pieces of space debris larger than one cm in Earth orbit. Each of these objects is capable of causing catastrophic damage to space assets.

Ans: d

Exp: 

In the three years since its launch, the prepackaged insolvency resolution process has had a slow start, with limited interest from micro, small, and medium enterprises (MSMEs) and lower recoveries than the normal corporate insolvency resolution process.

Difference Between Insolvency and Bankruptcy:

• Statement 1 and 2 is incorrect: Insolvency is a financial state where a person cannot meet debt payments on time. Bankruptcy is a legal process that happens when the individual declares he or she can no longer pay back his or her debts to creditors.
• Statement 3 is incorrect: Insolvency Does Not Mean Bankruptcy: Insolvency is a financial state whereas bankruptcy is a legal declaration and process.
  • Insolvency is a state that can lead to declaring bankruptcy.
  • If you are insolvent, you may have other options to consider before you have to resort to bankruptcy.

About Pre-packaged insolvency resolution process:

• • In the wake of Covid pandemic, a pre-packaged insolvency resolution was introduced in April 2021 to deal with stress of these small and mid-sized companies.
  • Pre-Pack: An agreement for debt resolution of distressed companies through secured creditors and investors.
  • Popularity: Popular in the UK and Europe.
  • In India: Requires financial creditors to agree on terms with potential investors and seek approval from the NCLT.

• Key Features:

• • Insolvency Practitioner: Required for assisting stakeholders.
  • Authority: Varies across jurisdictions.
  • Consensual Process: Prior understanding among stakeholders before invoking the formal process.
  • Court Approval: Not always required. Courts guided by commercial wisdom.
  • Outcome: Binding on all stakeholders if approved by the court.