Q. Consider the following statements about the Indian Council of Arbitration (ICA):
1.It is a statutory body.
2.It was established with the help of FICCI in India.
Which of the statements given above is/are correct?
Answer: B
Notes:
Explanation: Only Statement 2 is correct
Statement 1 is incorrect: The Indian Council of Arbitration (ICA) is a registered not-for-profit society under the Societies Registration Act, 1860, with its head office in New Delhi and a pan-India network of branches.
Statement 2 is correct: It is India’s premier arbitral institution, established in 1965 under the initiative of the Government of India and apex business organizations such as FICCI.
Source: PIB
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
