Constitutional & Statutory Bodies

Statement 1 is Correct: The Monetary Policy Committee (MPC) does decide the RBI's benchmark interest rates. This is its primary function, and it influences the cost of borrowing and lending in the economy. Statement 2 is Incorrect: The MPC is a 6-member body, not 12. It includes the Governor of RBI and other members appointed by the government. The committee is not reconstituted every year, but members serve for specified terms. Statement 3 is Incorrect: The MPC functions under the chairmanship of the Governor of RBI, not the Union Finance Minister. Therefore, the correct answer is 1 only. Hence, option A is the correct answer.

Statement 1 is Correct: The Quality Council of India (QCI) is a pioneering experiment of the Government of India in setting up organisations in partnership with the Indian industry. Quality Council of India (QCI) was set up in 1997 jointly by the Government of India and the Indian Industry represented by the three premier industry associations i.e. Associated Chambers of Commerce and Industry of India (ASSOCHAM), Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI), to establish and operate national accreditation structure and promote quality through National Quality Campaign. The Department of Industrial Policy & Promotion, Ministry of Commerce & Industry, is the nodal ministry for QCI.QCI is governed by a Council of 38 members including the Chairman and Secretary General. Statement 2 is Correct: The chairman is appointed by the Prime Minister on the recommendation of the industry to the government. Therefore, both statement 1 and statement 2 are correct.Hence, option C is the correct answer.

Statement 1 is Incorrect: Whether the owner is aware or not isn't the sole factor. A property transaction can be considered benami if
* The property is transferred to one person (benamidar) for a consideration paid by another (real owner).
* The transaction is conducted in a fictitious name. Statement 2 is Correct: Properties held benami are indeed liable for confiscation by the Central Government. This discourages the practice of using benami transactions to hide ownership. Statement 3 is Incorrect: The PBPT Act does provide for an appellate mechanism. Here's the hierarchy. The Adjudicating Authority Investigates and decides on benami transactions initially.
Appellate Tribunal Parties aggrieved by the Adjudicating Authority's decision can appeal to this tribunal. Therefore, the correct answer is 2 only.Hence, option B is the correct answer.

Statement 1 is incorrect: The Election Commission of India (ECI) is not a five-member body. It is a three-member body, consisting of the Chief Election Commissioner (CEC) and two Election Commissioners (ECs). However, it originally started as a single-member body in 1950 and became a multi-member commission in 1993. Statement 2 is incorrect: The Union Ministry of Home Affairs (MHA) does not decide the election schedule. The Election Commission of India (ECI) is solely responsible for determining the schedule of general elections and bye-elections. It exercises this power under Article 324 of the Constitution, ensuring free and fair elections in the country. Statement 3 is correct: The Election Commission of India has the authority to resolve disputes related to splits and mergers of recognized political parties. It decides which faction of a party is the legitimate one and, if necessary, allocates party symbols accordingly, based on precedents and internal party strength. Hence, the correct answer is option (D) 3 only.

The Trade Disputes Act, 1929:
* The main object of the Act was to make provisions for the establishment of Courts of Inquiry and Boards of Conciliation to investigate and settle trade disputes. * The Act prohibited strikes or lock-outs without notice in public utility services; it also made any strike or lock-out illegal.

In India, section 70-B of the Information Technology Act, 2000 (the IT Act) gives the Central Government the power to appoint an agency of the government to be called the Indian Computer Emergency Response Team. Further, it is legally mandatory for service providers, data centres and body corporates to report on cybersecurity incidents as outlined in the Information Technology (The Indian Computer Emergency Response Team and Manner of Performing Functions and Duties) Rules, 2013, which were notified under the Information Technology Act, 2000.

Statement 1 is Incorrect: The FSDC is not an organ of NITI Aayog. It's a separate apex-level body under the Ministry of Finance. Statement 2 is Correct: The FSDC is headed by the Union Finance Minister. Statement 3 is Correct: The FSDC plays a crucial role in monitoring macro-prudential supervision of the economy. Macro-prudential supervision focuses on preventing systemic risks within the financial system that could destabilize the entire economy. Therefore, the correct answer is 2 and 3 only.

Statement 1 is correct. National Ganga River Basin Authority (NGRBA) is the financing, planning, implementing, monitoring, and coordinating authority for the Ganges River, functioning under the Jal Shakti Ministry. Statement 2 is correct. The mission of the organisation is to safeguard the drainage basin which feeds water into the Ganges by protecting it from pollution or overuse. In July 2014, the NGRBA has been transferred from the Ministry of Environment and Forests to the Ministry of Jal Shakti. Statement 3 is incorrect. The Prime Minister is the chair of the Authority.
Other members include the cabinet ministers of ministries that include the Ganges among their direct concerns and the chief ministers of states through which the Ganges River flows.

Statement 1 is incorrect: The minimum age to be a member of a Panchayat is 21 years, not 25 years, as per the Indian Constitution. Statement 2 is correct: If a Panchayat is reconstituted after premature dissolution, it does not get a fresh five-year term. Instead, it functions only for the remainder of the original term of the dissolved Panchayat, as specified under Article 243E of the Constitution. Hence, the correct answer is option B. 2 only.

District Mineral Foundations (DMFs) were established in India under the Mines and Minerals (Development and Regulation) Amendment Act, 2015. Statement 1 is Incorrect: Promoting mineral exploration activities in mineral-rich districts is not a stated objective of DMFs. Statement 2 is Correct: The primary purpose of DMFs is to work for the welfare and benefit of areas and individuals affected by mining-related operations. This includes protecting the interests of the persons affected by mining operations. Statement 3 is Incorrect: However, DMFs do not have the authority to issue licenses for mineral exploration, as this is the responsibility of the State Governments. Their focus is more on the welfare of the affected persons and areas. Hence, option B is the correct answer.