Daily Current Affairs Quiz 18 May 2023

b) Financing and leasing of aircraft, engines, and spare parts

Cape Town Convention (CTC) is a 2001 treaty designed to smooth the growth of aviation by protecting the repossession rights of aircraft. The CTC treaty eases the financing and leasing of aircraft, engines, and spare parts by reducing lessors’ risk and expanding legal predictability in these transactions, including the case of insolvency.

India acceded to the CTC in 2018 but has not been ratified by the Parliament yet. As a result Indian law prohibits any such recoveries once bankruptcy proceedings are initiated for a company, lawyers, and industry.

India has made it easier for lessors to take back planes if airlines default on payments after joining an international treaty known as the Cape Town Convention. But lack of proper legislation to enforce the treaty means India’s bankruptcy law will supersede lessors’ repossession requests.

a) New Delhi

Yuge Yugeen Bharat National Museum is a new museum that will be set up at North/South Block as part of the Central Vista project.
It will display India’s rich civilisational culture spanning over 5,000 years. The initiative has been undertaken to commemorate the 47th International Museum Day on May 18.

d) Ministry of Corporate Affairs

The Ministry of Corporate Affairs (MCA) has established the Centre for Processing Accelerated Corporate Exit (C-PACE) to centralize the process of striking off companies from the MCA Register.
· C-PACE aims to ensure a clean registry, provides hassle-free filing and timely, process-bound striking off of company names from the Register.

· C-PACE operates through the Registrar of Companies (RoC) and is part of MCA’s efforts to improve the Ease of Doing Business and facilitate company exits.

Centre for Processing Accelerated Corporate Exit (C-PACE) established for providing hassle-free filing, timely and process-bound striking off companies from MCA Register.

c) Guwahati

The National Conference on “Land Governance in North Eastern States” was held recently in Guwahati.
It was jointly organized by Lal Bahadur Shastri National Academy of Administration, Mussoorie and Department of Land Resources with the support of Assam Government’s Revenue Department.

d) Both 1 and 2

The Palghat Gap is a significant discontinuity in the Western Ghats of about 40 km wide.
· The steep Nilgiris and Anamalai hills both rising above 2,000 MSL, on either side of the Palghat gap.

· The Gap is a geological shear zone that runs from east to west.

· Shear zones are weak regions in the earth’s crust. Hence, statement 1 is incorrect.

The Palghat Gap has historically been important as a significant gateway into the State of Kerala.
· It is a corridor for both roads and railways that connects Coimbatore with Palakkad.

· The Bharathappuzha River flows through the Palghat Gap. Hence, statement 2 is incorrect.

There are biogeographic distinctions in species north and south of the Palghat Gap.