In which year did an American company obtain a patent for Basmati rice?

The aims and objectives of the Genetic Engineering Approval Committee $(GEAC)$ are:
$I$. To permit the use of genetically modified organisms and their products for commercial applications.
$II$. To adopt the procedures for restriction,production,and application of $GM$ organisms.
$III$. Approval to conduct large-scale field trials and release of transgenic crops into the environment.
Which of the statements given above are correct?

Use of bioresources by multinational companies and organisations without authorisation from the concerned country and its people is called

$A$ monopoly granted to a person who has either invented a new and useful article,made improvement in an existing article,or invented a new process of making an article is called:

Which step has been taken by the Government of India to cater to the requirements of patent terms and other emergency provisions in this regard?

Ignoring our traditional knowledge can prove costly in the area of biological patenting. Justify.