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New Delhi International Arbitration Centre has been renamed as?
A)
Bharat Arbitration Centre
B)
International Arbitration Centre
C)
Pradhan Mantri Arbitration Centre
D)
India International Arbitration Centre

Correct Answer :   India International Arbitration Centre


The Lok Sabha passed the New Delhi International Arbitration Centre (Amendment) Bill, in 8th Aug 2022.  The Bill amended the New Delhi International Arbitration Centre Act, 2019
 
It also renamed the New Delhi International Arbitration Centre the "India International Arbitration Centre". The bill requires the Arbitration Centre to strive to facilitate the conduct of international and domestic arbitration and conciliation.
 
Replying to a debate on the bill, Law Minister Kiren Rijiju said India will emerge as a major arbitration hub. Referring to the number of pending cases in the country, the Minister said about five crore cases are pending in various courts of which 80 per cent are in lower courts..

Source : News on Air

Published On : August 10, 2022
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