23rd December 2025

Explanation - The Southern Ocean is also known as the Antarctic Ocean, is the fourth-largest ocean by surface area. The International Hydrographic Organisation describes the Southern Ocean as the World Ocean's southernmost portion. It is located on the lower end of the Pacific, Atlantic, and Indian Ocean and includes the tributary seas around the Antarctic region. It is known for its strong winds, intense storms, dramatic seasonal changes and cold temperatures. It is dominated by the Antarctic Circumpolar Current (ACC) which is the longest, strongest, deepest reaching current on earth. Formation — It was formed when Antarctica and South America drifted apart, creating the Drake Passage. Biodiversity — Powerful currents, cold temperatures and nutrient and oxygen-rich waters make the Southern Ocean one of the most productive marine ecosystems on Earth (not low productivity, so statement 3 is incorrect). Role of Southern Ocean — It plays an important role in the circulation of water around the globe. It also plays a key role in regulating the earth's climate through its currents, seasonal sea ice and by absorbing heat and carbon dioxide from the atmosphere.

Explanation - Chillai Kalan or Chillia Kalan is a Persian word which literally means forty days of intense cold. It is the local name given to 40 day period of harsh winter in Kashmir. It is the coldest part of winter, starting from 21 December to January 29 every year. Chillai-Kalan is followed by 20-day long Chillai Khurd (small cold) that occurs between January 30 and February 18 and a 10-days long Chillai Bachha (baby cold) which is from February 19 to February 28.

Explanation - It was established in 1999 as an international independent agency to lead a collaborative worldwide movement for doping-free sport. Role — To develop, harmonise and coordinate anti-doping rules and policies across all sports and countries. It activities include scientific and social science research; education; intelligence & investigations; development of anti-doping capacity; and monitoring of compliance with the World Anti-Doping Program. It is funded equally by the Olympic Movement and Governments of the world (not solely by IOC, so statement 2 is incorrect). Headquarter: Montreal, Canada (not Lausanne, so statement 4 is incorrect). Governance Structure of World Anti-Doping Agency — Foundation Board (Board): It is the agency's highest policy-making body and is jointly composed of representatives of the Olympic Movement (the IOC, National Olympic Committees, International Sports Federations, and athletes) and representatives of governments from all five continents. Executive Committee (ExCo): It looks after the management and running of the agency, including the performance of all its activities and the administration of its assets. 

Explanation - Statement 1 is correct as the Code empowers the government to remove SEBI Board members for convictions involving moral turpitude. Statement 2 is correct as the Code requires SEBI to specify an Investor Charter and standardise grievance redressal. Statement 3 is incorrect because the Code proposes a consolidated registration framework for intermediaries and pooled investment vehicles, not just for stock exchanges. 

Explanation - Statement 1 is incorrect. The Code reclassifies contraventions into two buckets, not one. Statement 2 is incorrect as it does not decriminalise all violations; serious misconduct (market abuse) can still attract criminal action. Statement 3 is correct as the Code specifically decriminalises lesser violations (including some fraudulent/unfair practices), subjecting them to civil penalties, while retaining criminal consequences for serious market abuse.