Answer: B

Explanation:

Recently, the Securities and Exchange Board of India (SEBI) has issued a consultation paper on the treatment of interest income earned by the clearing corporations from cash collaterals from clearing members and up-streamed client funds. The Securities and Exchange Board of India is the regulatory body for the securities and commodity markets in India under the jurisdiction of the Ministry of Finance, Government of India. Hence, statement 1 is correct.

Established on April 12, 1988, SEBI was initially a non-statutory body, but it gained statutory status on January 30, 1992, through the SEBI Act, 1992. It is a quasi-legislative and quasi-judicial body which can draft regulations, conduct inquiries, pass rulings and impose penalties. Hence, statement 2 is correct.

SEBI is headed by a Chairman, appointed by the Central Government and includes members from various sectors including the Ministry of Finance and the Reserve Bank of India, along with experts in the field. Hence, statement 3 is incorrect.

Answer: C

Explanation:

Recently, the Prime Minister of India has greeted the people on the special occasion of Ashadhi Bij, the Kutchi New Year. Ashadhi Bij falls on the second day of the Shukla Paksha (waxing phase of the moon) in the month of Ashadha, according to the Hindu calendar.  Hence, statement 1 is correct.

Ashadhi Bij marks the beginning of the rainy season, which is crucial for the agrarian and Kutchi communities in the Kutch region of Gujarat. Traditional New Year festivals in India include Chaitra Shukla Pratipada, Gudi Padwa, Ugadi, Navreh, Sajibu Cheiraoba, Cheti Chand, Bihu (Rongali, Kongali, Bhogali), Baisakhi and Losoong (Namsoong). .  Hence, statement 2 is correct.

Answer: D

Explanation:

Recently, citing reports of a Chinese military base near Ladakh's Pangong Tso Lake, Congress president criticized the BJP government for lack of transparency on the border situation with China. Pangong Tso lake, also known as Pangong Lake is a high-altitude lake situated at an elevation of about 4,350 meters (14,270 feet) in the Himalayas. This lake extends from India to China, with two-thirds of the lake lying in Tibet (China) and one-third in Ladakh (India). Hence, statement I is incorrect.

Pangong Tso is one of the largest brackish lakes in Asia, spanning approximately 134 kilometers (83 miles) in length. It is the world's highest saltwater lake, but it freezes completely during the winter months despite its high salinity. Hence, statement II is correct.

Answer: D

Explanation:

Graphene is a thin 2D structure made of carbon atoms and has excellent thermal and electrical conductivity with a wide range of applications. It is an allotrope of carbon consisting of a single layer of carbon atoms arranged in a hexagonal lattice pattern (honeycomb structure). Hence, statement 1 is correct.

Graphene is one of the thinnest, strongest materials known to humankind. It has applications in electronics, materials science, energy storage and conversion, and medicine, due to its high electrical conductivity, strength in composites, energy storage capabilities and biocompatibility for biomedical devices. Hence, statement 2 is correct.

Answer: A

Explanation:

Prime Minister of India will embark on a three-day official visit to Russia and Austria today, July 8. In the first leg of his visit, He will be in Moscow for the 22nd Annual Summit between India and Russia. Austria is a landlocked country located in Central Europe. Vienna is the capital of Austria. Austria shares its borders with Hungary to the east, Switzerland and Liechtenstein to the west, the Czech Republic to the north, Slovakia to the northeast, Germany to the northwest and Slovenia and Italy to the south. The highest point in Austria is the Grossglockner, which is part of the Hohe Tauern mountain range in the Austrian Alps. Hence, option (a) is correct.