 Dear viewers, if you are writing prelims this year, then this announcement is for you. One of the most common concerns among students appearing for prelims 2020 is how to cover current affairs for the months of April 2022, August 2020, the lockdown period. This is the biggest worry among many aspirants. As you all know, going through current affairs is the core and integral part in prelims preparation, and having command over current affairs will help you to sail through prelims examination very easily, because on an average, 35 plus questions come from current affairs every year. So, this has prompted us to create a limited test plan which covers current affairs for the duration of April 2022, August 2020. This program will include five exclusive current affairs tests, that is one test for each month, from April to August. This program will help you to assess your preparedness on current affairs for each month during lockdown period. Each of these tests will be followed by a very detailed discussion, which will help you to understand each question and concept thoroughly. Even if you haven't prepared current affairs for the last five months, these tests help you to prepare for current affairs. This is because the five current affairs test consists of 500 prelims questions. For the benefit of students, Shankarai's academy is offering this module at just rupees 999, not just that. Along with five current affairs, every student who joins this program will also get free access to two more exclusive current affairs and six GS full mock test and two CSAT test. These two extra current affairs covers issues from June 2019 to March 2020, which means you will be well versed with the current affairs for the months June 2019 to August 2020. The six GS full mock test will simulate the prelims examination and assess your preparation comprehensively. These two CSAT tests will help you to revise qualitative aptitude, quantitative aptitude, and logical reasoning as well. So, all these extra tests, which include two exclusive current affairs, six GS full mock test, and two CSAT tests will be released as a set allowing you to create a flexible schedule as per your need and convenience. We are not finished yet. The five current affairs will be conducted on 22nd August, 29th August, 5th September, 12th September, and 19th September. The aspirants who secure top three ranks in each test will get fully reimbursed with the course fee, that is, 999. So, a total of 15 candidates will be reimbursed based on the performance in the current affairs. The registration link will be provided with Hindu news analysis tomorrow. For more information regarding this prelims 2020 current affairs, watch our daily Hindu news analysis and subscribe to Shankar Iyer's Academy YouTube channel. With this, let us start our today's Hindu news analysis. The list of topics chosen for today's discussion along with the page numbers is given here for your reference. This news article mentions that the government has dismissed the demands for setting up a joint parliamentary committee. Actually, what happened was the opposition parties demanded setting up of a joint parliamentary committee to probe against the allegations that social media site Facebook is favouring the BJP leaders. And according to reports, this decision of Facebook is to protect its business interests in India. So, in this context, let us see what is a parliamentary committee and types of parliamentary committee and today's topic of interest that is joint parliamentary committee. The relevant syllabus is given here for your reference. First, the question is, what is the need of setting up of a parliamentary committee? As you all know, the work done by parliament is diverse, they are complex and considerable in volume, which means the work is large in size, amount or extent. But the time available to parliament to do these works is very limited. This is because the parliament has to give close consideration to all the legislative and other matters that come up before it. But because of lack of time, parliament alone cannot do all these works. So, therefore, a good amount of parliament's business is transacted in the committees of the house. So, these committees which are set up to reduce the workload on parliament are called parliamentary committees. So, these committees are an instrument of parliament which are present for the effective functioning of the parliament. So, a parliamentary committee can be defined as a committee which is appointed or elected by the house or even nominated by the speaker of Lok Sabha or chairman of Rajya Sabha. So, thereby, you can infer that these parliamentary committees play a vital role in the parliamentary system. So, briefly, we can say that there are two factors which are responsible for the need to set up a parliamentary committee. First one, the need for vigilance and part of legislature over the actions of executive. Second, the modern legislature these days is overburdened with heavy volume of work and has very limited time to deliberate on these topics. So, because of these two reasons, the parliamentary committees are set up to reduce the workload on parliament. So, what do these committees do? See, these provide the expertise on a matter which is referred to it. So, in each committee, the matter is deliberated at length, views are expressed freely, the matter is considered in depth in a business-like matter and they are dealt in a calmer atmosphere. So, this is the main difference between a topic being discussed in parliament house and parliament committee. In a house, there will be a lot of ruckus going on, lot of people will be shouting and very few will be interested to talk about a topic in a parliament house. But parliament committees are small, so they can meet easily and they can express their views without attracting any public gaze and then they are a vibrant link between parliament, executive and general public because in most of the committees, public is directly or indirectly represented and their sessions are taken through memorandum or public consultation. So, these help the committees to arrive at the conclusion regarding the matter. So, simply put, these committees aid and assist the legislature in discharging its duties and regulating its functions effectively, expeditiously and efficiently. So, through committees, parliament exercises its control and influence over administration, which means central government. So, it is said that the parliamentary committees will have a solitary effect, which means a healthy effect on executive. So, when we say influence and control, it does not mean that these committees are weakening the central government or weakening the administration. They just prevent the misuse of power, which is exercised by the executive. Very importantly, remember that the parliamentary control in the context of functioning of these committees mean that just influencing and not direct control. Likewise, they advise and does not command. See, if you remember last Tuesday when we were talking about draft EIA, we said that committee on science and technology has asked the environment minister to wait until the committee goes through the draft EIA and gives its decisions. So, they act like an advisory body and try to influence the government decisions in favour of larger public interest. So, both the houses of parliament have a similar committee structure just with few exceptions. Their appointment, terms of office, functions and procedure of conducting business are also more or less very similar. So, this is the basic info about parliamentary committees. Next, we shall see the different types of committees in parliament. So, broadly there are two types of committees. One, standing committees, two, ad hoc committees. Standing committees are permanent and regular committees, which means the work in these committees is of continuous nature. While ad hoc committees are temporary and cease to exist once their work is finished. So, coming to standing committees, there are three financial committees which are estimates committee, public accounts committee and public undertakings committee. Dear aspirants, these three committees are very, very important in exam point of view. So, these committees constitute a distinct group as they keep a continuous vigil over government expenditure and performance. And talking about their membership, very, very importantly know that the Raj Sabha members are present only in public accounts committee and public undertakings committee. So, in estimates committee only Lok Sabha members are present. This is very, very important distinction you should be knowing of. So, besides these three financial committees, the rules committee of Lok Sabha recommended setting up of department related standing committees. So, accordingly 17 DRSCs were set up in 1993 and this number increased to 24 in 2004. So, each DRSC consists of 31 members, 21 from Lok Sabha and 10 from Raj Sabha. So, the function of these DRSCs are given here. They are very basic like considering the demands for grants of various ministries and then to examine such bills referred to committee by the chairman or speaker, considering annual reports, etcetera and making report on all of these issues. So, these are the very basic functions of DRSCs. So, this is all about standing committee and coming to ad hoc committees which are temporary. See ad hoc literally means when necessary or needed. So, ad hoc committees are appointed when a need arises. So, which means they are appointed for a specific purpose. So, they are set up from time to time to inquire into specific subjects and to report on them. So, these ad hoc committees become cease to exist when they finish the task assigned to them and after submitting a report. So, after submitting the report they are dissolved and then there are joint parliamentary committees which is the topic of interest today. So, as the word joint suggests these committees have members from both Lok Sabha and Raj Sabha. So, in JPCs few are permanent and few are ad hoc. The committees which are permanent are given here like welfare of schedule cost, office of profit, library committee, salary, allowances, pension of members of parliament committee and committee on empowerment of women. So, these five committees are permanent joint parliamentary committees and there are three ad hoc committees as of now which are food management in parliament committee, functioning of work, footboards committee and a joint committee on personal data protection bill 2019. So, this means a joint parliamentary committee can also be set up to examine a particular bill presented before the parliament or for the purpose of investigating cases of financial irregularities in any government activity. So, in this context the opposition parties are asking the government to set up a joint parliamentary committee to probe against the social media site Facebook. A similar demand was made in 2018 regarding Rafaal aircraft deal. So, according to few sources for setting up a joint parliamentary committee a motion is passed in one house and it is supported by the other house. The support of other house is required because joint parliamentary committee has members of both the houses. So, both houses should be supporting the motion. The committees members are decided by parliament and number of members can vary depending on the need and generally the Lok Sabha members are twice in the JPC than that of Raj Sabha members and the proceedings and the findings of these committees are confidential except in matters of public interest. So, this is all about joint parliamentary committee. With this we come to end of discussion of this topic. Today we have talked about what is a parliamentary committee and what is the need of setting up a parliamentary committee and what are the functions of parliamentary committee and types of parliamentary committee etc. So, this discussion is mainly focused to help you to revise for your upcoming prelims examination. The displayed practice question will be discussed at the end of session. Next, let us take up this news article which states that the music legend Jasraj passed away. So, he is considered one of the greatest legends in Hindustani music in current times. So, in this context we will discuss Indian music with focus on Hindustani music. So, first question is when we say Sangeet or music what does it mean? See, simply it means singing in a proper manner following a set of rules and coming to Indian classical music there are two prevalent forms in India which are Northern or Hindustani music and Southern or Carnatic or Carnatic music. So, this Northern Hindustani music is prevalent in India except the South States which are Andhra, Telangana, Tamil Nadu, Karnataka and Kerala. And this music system is also prevalent in our neighboring countries like Nepal, Bangladesh and Pakistan. And coming to Southern or Carnatic music system it is prevalent in Southern parts which are Andhra, Telangana, Tamil Nadu, Kerala and Karnataka. And it is generally believed that the music of India was more or less uniform before 13th century. Only after 13th century it bifurcated into North and South or Hindustani and Carnatic systems. So, though these two systems are independent of each other they do have some similarities like both systems follow the concept of 22 Shrutis in a Saptak. So, the meaning of Saptak has been implied as a group of seven notes in sequence which many of you might know Sari, Gama, Pada, Ni. And thirdly both systems follow the concept of Thata, Raga. Thata is a musical scale with seven notes arranged in their ascending order. Thata eventually gives rise to Raga's. Another similarity is that in both systems music is based on Raga and Thala. So, this is a very brief introduction with respect to Hindustani music and Carnatic music. Now, let us see few popular forms of Hindustani music which are Drupad, Damar and Kyaal or Kayaal. See Drupad and Damar are the oldest forms of Hindustani classical music. And talking about Drupad it is a form of Indian classical music which is accompanied by percussion instrument called Pakavas or Pakavas. And this form of music is even mentioned in Natya Shastra and this Drupad form of music reached its genet in the court of Emperor Akbar. And talking further the Drupad has its root in two Sanskrit words Dhruva and Pada which means fixed literary content. So, in this form the literary verses are fixed and composed of certain Swaras and Thalas. So, this is all about the Drupad or Dhrupada. And now let us come to Kyaal or Kayaal form of Hindustani music. So, the word Kyaal is derived from Persian and which means idea or imagination. The origin of this style was attributed to Amir Khusru. If you have seen Padmavat movie you might have known who is Amir Khusru a great poet in medieval period. This form is popular amongst the artists as this provides greater scope for improvisation. This form of music attained its maturity at the hands of Niyamat Khan Sadarang and Adarang of 18th century. So, this is a very brief introduction of Hindustani music with respect to prelims examination wherein you should know the differences between Hindustani music and Carnatic music and what are the similarities between Hindustani music and Carnatic music and what are the important styles of Hindustani music. This is all about discussion of this news article. Another day we shall see the Carnatic music in detail. The displayed practice question will be discussed at the end of session. Let us move ahead with this news article. Let us take up this news article titled Reimagining and Reinventing the Indian economy. This article was written by the prominent industrialist Gopich and Hinduja who is the co-chairman of Hinduja group. So, in this article the author gives sessions on how to revamp the Indian economy from the damages caused by the COVID-19 pandemic. So, in this context, let us briefly discuss this article along with the key terms mentioned in the article. The relevant syllabus is given here for your reference. Firstly, the author prices our government for the stimulus package of 20 lakh crore under Atman Elbar Bharat Abhyan. This amounts to around 10% of Indian GDP. The author is of opinion that this is one of the most substantial relief plans in the world. But he also tells that a lot more needs to be done to power the engine of growth. For this, he came up with measures spanning across different sectors. So, firstly, he says that India should go for a strategy to address four major economic cylinders. One, big business houses like Hinduja group. Two, micro-small medium enterprises that is MSMEs. Three, startups. And four, NRAs or OCI's who are Indian-born foreign nationals or Indians residing in the foreign countries. So, talking about big business houses, the author tells that they are the major contributors to GDP on large employment generators. So, government should support them to reopen their operations by giving tax incentives or ease of procurement of raw materials or goods and services on credit. So, by giving such incentives, it improves the supply as well as demand and also generates the employment. And talking about credit, author says that RBI should consider single one-time window for restructuring business loans as required by all banks. There is high probability that NBS are likely to rise once the prevailing moratorium is lifted by the Reserve Bank of India. So, government and RBI should urgently need to assure banks that their business decisions will not be questioned to encourage the flow of credit into the economy. And next, author says that center can prepare a five-year plan on getting at least 60% of those companies which are moving their manufacturing facilities out of China. As we all know, many companies due to American sanctions as well as COVID-19 pandemic are moving their manufacturing facilities out of China. So, author says that most of these companies should be encouraged to set up their plans in India. And talking about MSMEs, which are known to be the lifeline of Indian economy, author says that they should be given tax incentives, credit flow and restructuring of loans. By doing so, the MSMEs will get a new lease of life and work with more momentum to start the growth engine of India. Thirdly, startups, these bring innovation and transformation to our country's economy. According to author, India is amongst the top startup ecosystems in the world and many of them are in pre-angel or angel funding stages and are under severe stress owing to lack of business. So, what is this angel funding? Simply, angel investors are a class of well-to-do investors who are usually experienced in industry and who are willing to take risk by investing in equity stakes of new companies or startups. So, angel investment means the people who are financially good and well-versed with the industry buy the equity in new startups and give them the much-needed liquidity or cash. And finally, talking about NRIs and OCIs, that is overseas citizen of India, the author tells that they should be encouraged to bring huge investments back to India. So, and in this regard, their investments should be treated on par with those of resident Indians in case of interest and dividend repatriation as well as management control of Indian companies. Generally, as of now, whenever investment comes from foreign countries, there will be some sense of suspicion because it might affect the India's security and integrity. So, there will be some restrictions over investments as well as control over the companies in which they are investing. So, author tells that the investments coming from NRIs or OCIs should be treated on par with investments of resident Indians. So, by doing so, large number of investments are expected to come to India from foreign countries. See, for example, Chinese government had called on rich overseas Chinese to invest in China with a minimum government control and as a result, massive investments followed. So, this has greatly contributed to China's prosperity and economic rise. So, we can try to replicate the Chinese model of investment from the Indian born foreign nationals who are present across the world. And moreover, according to the author, the government should also encourage Sunrise sectors as part of reimagining Indian economy. So, when we say Sunrise sector, it means a business which is just in its infancy but shows a promise of rapid boom. For example, Sunrise sectors can be information technology, telecom sector, healthcare, food processing industries, etc. And finally, author talks about reforms needed in labour laws. So, author is of opinion that the company should be given permission to hire and fire fixed term employment, enforcement of discipline within the factory premises and demand for higher productivity, insurance to migrant labourers, etc. And other reforms like tax reforms, like tax exemption on passive income like dividends, interest on bank deposits, reduction of capital gains tax. So, these are the reforms or changes suggested by prominent industrialist GP Hindusa to revive Indian economy. As you might understand, all these reforms are favouring the business houses. The author did not talk about the labour or the difficulties of labour, etc. because he himself is a co-chairman of one of the biggest business houses of India. So, this is all about this news article discussion wherein author talks about different measures to revive Indian economy which suffered a great damage due to COVID-19 pandemic. The displayed practice question will be discussed at the end of session. Let us move ahead with this news article discussion. Let us take up this news article which talks about the NGT's direction to chief secretaries of Ganga basin states to periodically monitor the rejuvenation of Ganga to control its pollution. So, in this context, let us have a brief discussion on Namami Ganga program, national mission for clean Ganga, national Ganga council and other related government schemes. So, first, what is Namami Ganga program? See, know that it is an integrated conservation mission of union government to accomplish two objectives which are effective abatement of pollution, conservation and rejuvenation of national river Ganga. So, this program was approved as a flagship program in the year 2014. So, the main pillars of this program are creation of sewage treatment infrastructure, riverfront development, river surface cleaning and biodiversity conservation, etc. So, this Namami Ganga program is a pretty new scheme. So, even before the setting up of Namami Ganga program under Environment Protection Act of 1986, a fighter structure was proposed to take measures for prevention, control and abatement of environmental pollution in river Ganga. So, this also aims to ensure continuous adequate flow of water so as to rejuvenate the river Ganga. So, the five-tire mechanism structure is National Ganga Council under the chairmanship of Prime Minister of India, Empower Task Force on river Ganga under the chairmanship of Ministry of Jalsakthi, third one national mission for clean Ganga, fourth state Ganga committees and fifth one district Ganga committees. So, this was the five-tire structure set up under Environment Protection Act of 1986. So, talking about national mission for clean Ganga, it was registered as a Society under Society's Registration Act of 1860 and this serves as implementation of National Ganga Council. So, thereby you can understand that there is a five-tire mechanism ranging from Prime Minister to district level and this national mission for clean Ganga is an executive body with bureaucrats. So, this body will act as an implementation arm of all the policies made with respect to Ganga river. So, thereby you can understand that there is a five-tire structure mechanism as well as a flagship program called Namami Ganga program and next we shall see who are Ganga praharis. See the National Mission for Clean Ganga and Wildlife Institute of India is involving members of local community of five Ganga river basin states to conserve the ecological integrity of river Ganga. So, these people who are from Ganga river basin states serve to conserve the ecological integrity of river Ganga and these people also motivate other people to spread the clean Ganga message thus contributing in making clean Ganga mission a mass movement or gen Andolan and not just that these Ganga praharis will be the role models in inspiring other members of the community to join hands to conserve the river Ganga. Thus, each prahari shall work on the model of each one make 10 which means one Ganga prahari will inspire other 10 people to serve for the conservation of Ganga river and government also set up a new fund called clean Ganga fund in the year 2014. This is an independent trust aimed to attract donations for Namami Ganga program. So, anyone who is interested to support Namami Ganga program they can donate money to this fund and government will use this fund for the conservation measures of Ganga river. This is all about this news article discussion where we had a comprehensive reach regarding the conservation measures of Ganga river. We talked about fight air mechanism under EPA act of 1986 and we also talked about the flagship scheme that is Namami Ganga scheme and all these are implemented by obviously the ministry of Jalshakti and in film's point of view you should be knowing Ganga praharis as well as clean Ganga fund. This is all about the news article discussion. The displayed practice question will be discussed at the end of session. Let us take up this news article from editorial page which talks about the jurisdictional conflict between Delhi's council of ministers headed by CM and left-wing governor. The article appears in the context of an executive decision of Delhi government being referred to the president of India. So, what happened was Delhi government came up with a list of prosecutors in conducting the Delhi riots cases. So, this list was not accepted by the left-wing governor and subsequently he referred this matter to president of India. In the meanwhile the left-wing governor accepted the list given by Delhi police saying that this matter needs urgency. So, as a result the list given by Delhi's government was rejected. So, in this context let us see what are the powers of Delhi's government as well as centers influence in an union territory followed by the Supreme Court's judgment with respect to contentious issues. The relevant syllabus is given here for your reference. See, firstly know that Delhi got lazily to assembly and elected government because of 69th constitutional amendment act of 1991. So, this amendment inserted two provisions or articles which are 239 AA and 239 AB. So, these two articles provide for a elected government in union territory of Delhi and this elected government can legislate in state list and concurrent list of 7th schedule except few matters like land, public order and police. These three powers are vested with the central government. This is because Delhi is the national capital. So, central government has to protect it from outside forces. So, land, public order and police are vested with the central government and as you all know the UTS will have left-wing governors or administrators appointed by the president of India and according to 239 AA the lieutenant governor has to act upon the aid and advice of council of ministers headed by chief minister and whenever there is a difference of opinion between lieutenant governor and council of ministers the lieutenant governor should refer it to the president for his decision and president's decision is final in this regard. But whenever there is any urgency and issues pending before president, lieutenant governor can act upon his opinion. So, this provision remained a major bone of contention because it said difference of opinion on any matter. So, this in reality hampered the administration of Delhi particularly when the ruling party at the center is not the ruling party in the union territory. If you see in the current period the Delhi government is headed by our party and national government by BJP or NDE. So, this matter was taken up in the Supreme Court through a constitutional bench some of the matters were settled by a judgment in July 2018. However, once in a while there are jurisdictional issues happening between lieutenant governor and delis government even after this verdict. So, in the judgment Supreme Court said that the word NE in article 239 AA is not to be mechanically read to mean every. Therefore, the power given to lieutenant governor contains the rule of exception and should not be treated as a general norm. So, this power should not be exercised in a routine manner rather on valid reasons after due consideration when it becomes necessary to safeguard the interest of Delhi. So, in the same issue the Supreme Court also said that article 239 AA reserves the parliament's legislative power on all matters in the state list concurrent list. But it also explicitly says that government of Delhi has executive powers in relation to matters for which it has powers to legislate. So, which means the Delhi government will have executive powers in all matters of state list and concurrent list except entries 1, 2, 18 of state list and 64, 65, 66 of concurrent list. So, except these six matters the Delhi government has executive power with respect to administration of Delhi. In this context Supreme Court implied that union government is not empowered to exercise executive authority in matters where state government has authority. Simply put the central government through lieutenant governor cannot interfere in daily administration of Delhi. The daily administration of Delhi should be left to the elected government that is case revolve government. So, these are the two important contentious provisions with respect to union territory of Delhi and this problem is present wherever union territory is having a list led to assembly. For example, Fuducherry also has similar issue. Whenever the CM says yes, the lieutenant governor says no. So, because of these issues the development and administration of union territories is being hampered. So, these issues should be resolved through a lot of deliberation or a constitutional amendment or even Supreme Court can give a detailed guidelines how and when a lieutenant governor can refer a decision to the president of India. So, with this we come to end of analysis of this news article. In this analysis we discussed the recent issue in Delhi and the relevant constitutional provisions and Supreme Court's verdict on the matter two years ago. Let us take a practice film's questions. Question one, consider the following statements. Two statements are given and we are supposed to identify the correct statement. Statement one, the Hindustani classical music is prevalent in India other than the states of Karnataka, Kerala, Tamil Nadu, Telangana and Andhra Pradesh. Yes, this statement is correct. In these southern states the Karnataka music is more prominent and know that the Hindustani music is also present in our neighboring countries like Pakistan, Bangladesh and Nepal. Statement two, Amir Kusru of 13th century is credited with encouragement and support towards kyal or kyal form of Indian classical music. Yes, this statement is also correct. Therefore, the correct answer is option C both one and two. Next question, consider the following statements with reference to National Mission for Clean Ganga. Statement one, it is the implementation agency of National Ganga Council. Yes, this statement is correct. It acts as the implementation arm of National Ganga Council. Statement two, it is headed by the Prime Minister of India. No, this statement is incorrect because National Mission for Clean Ganga has a two-tire management structure comprising of governing council and executive committee and both are headed by Director General and not the Prime Minister. Here know that the National Ganga Council is headed by Prime Minister of India. If you remember, we have talked about five-tire structure set up under EPA Act of 1986. The tire one is National Ganga Council under Prime Minister of India and third tire is National Mission for Clean Ganga. So, know the difference. So, statement one is correct and statement two is incorrect. But be careful, in this question we are supposed to identify incorrect statements. So, the correct answer is option B two only, since statement two is incorrect. Next question, consider the following statements with reference to National Capital Territory of Delhi. Two statements are given and we are supposed to identify correct statements. Statement one, the Layslate Assembly of Delhi is empowered by the Constitution to make laws on the subjects of land, police and public order. No, this statement is incorrect because the Layslate Assembly of Delhi is excluded from making laws on these three subjects of state list. So, only parliament can legislate with respect to these three subjects for NCT of Delhi. Statement two, the Council of Ministers shall be collectively responsible to left and end governor. No, this statement is incorrect because the Council of Ministers are collectively responsible to legislate to assembly. It means when assembly loses confidence over the Council of Ministers, they have to resign. In another words, if assembly passes a no confidence motion, the CM and Council of Ministers have to resign from the executive posts. So, the correct answer is option D neither one nor two, since both are incorrect statements. Next question, consider the following committees, Committee on Estimates, Committee on Public Accounts and Committee on Public Undertakings. The members of Rajya Sabha are associated with which of the above committees. If you remember, while discussing the parliamentary committees, we have said that only Lok Sabha members are associated with Estimates committee. So, if you eliminate statement one from the options, you can arrive at the answer that is option C 213 only. Next question, consider the following statements with reference to Alternative Investment Fund, which is frequently seen in news. Two statements are given and we are supposed to identify the correct statement. Statement one, it refers to any privately pooled investment fund in the form of a trust or a company or a body corporate or a limited liability partnership. Yes, the statement one is correct. In India, alternative investment funds are defined in Securities and Exchange Board of India Regulations 2012, which is SEBI rules 2012. It refers to any privately pooled investment, whether from India or even foreign sources in the form of a trust or a company or a body corporate or a LLP. So, statement one is correct. Statement two, it is regulated by Reserve Bank of India. So, this is incorrect because Alternative Investment Funds in India are regulated by Securities and Exchange Board of India shortly SEBI. Since we are supposed to identify correct statements, the correct answer is option A 1 only. With this, we conclude today's news analysis. If you find this session resourceful, click on the like button, show your appreciation in the comment section and don't forget to subscribe to our YouTube channel. Stay home, stay safe.