Ans:  A

Exp:

Recently,Foreign portfolio investors (FPIs) domiciled at the GIFT International Financial Services Centre (IFSC) and registered with the Securities and Exchange Board of India (Sebi) have been allowed to issue Participatory notes (P-notes).

Statement 1 is incorrect:  P-notes are issued by registered foreign portfolio investors (FPIs) and not by

SEBI, to overseas investors who wish to be part of the Indian stock market without registering themselves directly.

Statement 2 is incorrect: The P-notes holder does not enjoy any voting rights in relation to

security/shares referenced. Also, the investor in P-notes does not own the underlying Indian security,

which is held by the FII who issues the Participatory Notes. 

• Thus, the investors in Participatory Notes derive the economic benefits of investing in the security without actually holding it.

Statement 3 is correct: Investments flowing through P-notes are considered as offshore derivative

investments (ODIs). 

• Indian securities market regulator, SEBI issued the new Regulations for Foreign Portfolio Investors, participatory notes where it got formally defined under the tag “Offshore Derivative Instrument” (ODIs) in Section 2(1)(j) of the said regulation.

Ans: C

Exp:

Recently,the Reserve Bank of India (RBI) has revised the guidelines for custodian banks to issue Irrevocable Payment Commitments (IPCs) in light of the T+1 settlement regime for stocks.

Statement  1 is incorrect: The T+1 settlement cycle means that trade-related settlements must be done within a day, or 24 hours, of the completion of a transaction.

• For example, under T+1, if a customer bought shares on Wednesday, they would be credited to the customer’s demat account on Thursday.

Statement 2 is incorrect: If the stock exchange opts for the T+1 settlement cycle for a scrip, it will have to mandatorily continue with it for a minimum 6 months.

• A scrip is a substitute or alternative to legal tender that entitles the bearer to receive something in return.
• Thereafter, if it intends to switch back to T+2, it will do so by giving one month’s advance notice to the market. Any subsequent switch (from T+1 to T+2 or vice versa) will be subject to a minimum period.

Statement 3 is incorrect: India became the second country, after China, to implement the T+1 settlement cycle in top-listed securities.

• This transition brought several advantages, including increased operational efficiency, faster fund transfers, prompt share delivery, and improved convenience for participants in the stock market.

Ans: A

Exp: 

The Eta Aquarids meteor shower  peaks during early May each year. Eta Aquarid meteors are known for their speed, with the meteors traveling at about 148,000 mph (66 km/s) into Earth’s atmosphere.

Statement 1 is correct: Meteors are simply grains of dust or rock that burn up as they enter the Earth’s atmosphere.

•  This burning also creates a brief tail. Since most meteors are tiny (the size of a grain of sand) they completely burn up in Earth’s atmosphere. 

Statement 2 is incorrect:  Comets are frozen leftovers from the formation of our solar system, some 4.6 billion years ago.

•  Comets are composed of dust, rock and ice, and orbit around the Sun in highly elliptical orbits which can, in some cases, take hundreds of thousands of years to complete. 

Statement 3 is correct: Meteor showers come from comets. Meteor showers are periodic celestial events characterized by an increased number of meteors or “shooting stars” visible in the Earth’s night sky.

• Most meteor showers originate from debris trails of comets as they orbit the Sun. When Earth crosses these trails, debris particles enter the atmosphere, causing meteor showers.

Ans: B

Exp:

Recently, INCOIS – Indian National Centre for Ocean Information Services, has cautioned the States of Goa, Maharashtra West Bengal, Odisha, Tamil Nadu,Lakshadweep and Andaman & Nicobar Islands of “total suspension of operational/recreational activities at beach/nearshore regions

Statement 1 is incorrect: INCOIS was established as an autonomous body in 1999 under the Ministry of Earth Sciences (MoES) and is a unit of the Earth System Science Organisation (ESSO).

•  It is located in Hyderabad. It is mandated to provide the best possible ocean information and advisory services to society, industry, government agencies and the scientific community through sustained ocean observations and constant improvements through systematic and focused research.

Statement 2 is correct: The study reveals that the Andaman and Nicobar Islands, along with the Maldives, significantly influence the direction and speed of Indian Ocean currents, creating deep-swirling patterns opposite to surface currents.

Ans: D

Exp:

Recently, India’s score in the World Press Freedom Index fell over the last year, from 36.62 to 31.28, according to Reporters Without Borders (RSF for Reporters sans Frontières)

Option (a) is correct: World Press Freedom Index has been published every year since 2002 by Reporters Without Borders or Reporters Sans Frontieres (RSF). RSF is an independent NGO based in Paris that has consultative status with the United Nations, UNESCO, the Council of Europe, and the International Organisation of the Francophonie (OIF).

Option (b) is correct: Each country or territory’s score is evaluated using five contextual indicators: political context, legal framework, economic context, sociocultural context and safety.

Option (c) is correct: In 2024, Eritrea stands at the bottom, with Syria just ahead of it. The government has in the past dismissed international rankings of freedoms in India as misinformed and propaganda driven.

Option (d) is incorrect: Norway and Denmark topped the RSF table. In 2023, Norway, Ireland and Denmark occupied the top three positions.