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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 02nd August 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.
1) When was the World Wide Web Day observed worldwide?
(a) July 31
(b) July 30
(c) August 1
(d) July 29
(e) August 2
2) Every year from August 1st to August 7th, the world celebrates World Breastfeeding Week, a worldwide healthcare event. Since ________, World Breastfeeding Week has been observed in observance of the Innocenti Declaration.
(a) 1980
(b) 1990
(c) 1995
(d) 1999
(e) 2000
3) Anshuman Gaekwad, a legendary cricket player, passes away at age 71 from cancer. He scored two hundreds, the greatest he scored was 201 against which nation in 1983?
(a) New Zealand
(b) Zimbavae
(c) Pakistan
(d) Australia
(e) South Africa
4) Alex Yee’s spectacular win in the 2024 men’s Olympic triathlon in Paris. In the last 300 meters, Yee passed which nation’s Hayden Wilde after running a flawless 10 km?
(a) Slovenia
(b) Japan
(c) New Zealand
(d) Sweden
(e) France
5) In Paris 2024 Olympics, Cassandre Beaugrand triumphantly wins the Women’s Triathlon. Who won the silver medal?
(a) Julie Derron
(b) Beth Potter
(c) Andreja Leski
(d) Prisca Awiti
(e) Mona McSharry
6) Wiffen became the first Northern Irish athlete to win an Olympic gold medal in 36 years. He won the _________m freestyle final in 7:38.19, setting an Olympic record.
(a) 400m
(b) 500m
(c) 600m
(d) 800m
(e) 900m
7) At the Paris Olympics, Sarah Sjostrom of ____________________ took home the gold in the women’s 100-meter freestyle.
(a) Slovenia
(b) Japan
(c) New Zealand
(d) Sweden
(e) France
8) Which edition of the Subroto Cup football competition will begin with the Junior Girls’ event.The event will take place in the National Capital Region (NCR) from August 5 to 14?
(a) 62nd
(b) 63rd
(c) 64th
(d) 61st
(e) 65th
9) Which country’s Leon Marchand earned his second gold medal at the 2024 Summer Olympics in Paris. When competing in the 200-meter butterfly, he set an Olympic record?
(a) Slovenia
(b) Japan
(c) New Zealand
(d) Sweden
(e) France
10) How many nations have been invited to the first-ever global air exercise, “Tarang Shakti 2024,” being hosted by India in two stages?
(a) 41
(b) 35
(c) 51
(d) 55
(e) 45
11) Veteran of the aerospace industry Robert “Kelly” Ortberg has been named as the company’s future CEO. In which year did Kelly leave RTX to retire?
(a) 2020
(b) 2021
(c) 2022
(d) 2023
(e) 2019
12) What percentage of India’s core sector production grew in June 2024, which was the smallest rise in 20 months?
(a) 2%
(b) 3%
(c) 4%
(d) 5%
(e) 6%
13) Toyota Kirloskar Motor (TKM) plans to develop a new greenfield manufacturing plant in Maharashtra with an estimated expenditure of how many crore?
(a) Rs.15000crore
(b) Rs.20000crore
(c) Rs.10000crore
(d) Rs.25000crore
(e) Rs.30000crore
14) As per the report, Wayanad was one of the Kerala districts that ranked high on ISRO’s ‘Landslide Atlas’. The Landslide Atlas of India, developed by ISRO’s National Remote Sensing Centre (NRSC) in February 2023, rated Wayanad 13th out of 147 districts in how many states and two union territories based on landslide exposure?
(a) 15
(b) 16
(c) 17
(d) 18
(e) 19
15) As per the report, Vietnam’s Prime Minister Pham Minh Chinh’s visit to India from July 30 to August 1, 2024, highlights the country’s rising relevance in the Indo-Pacific region. In which year was the India-Vietnam relationship promoted to “strategic partnership” status?
(a) 2005
(b) 2006
(c) 2007
(d) 2004
(e) 2008
16) Prime Minister Narendra Modi is presented with the book “Call of the Gir”. In the past, Times Group Books released Nathwani’s debut coffee table book, “Gir Lions: Pride of Gujarat,” in which year?
(a) 2014
(b) 2015
(c) 2017
(d) 2018
(e) 2019
17) What is the amount of money approved by the World Bank for Ethiopia’s sustainable growth. It is Ethiopia’s first direct budgetary support facility from the World Bank?
(a) $1.5 billion
(b) $1.0 billion
(c) $2.5 billion
(d) $3.5 billion
(e) $2.0 billion
18) Which kind of viral assault renders approximately 300 tiny Indian banks’ payment systems completely unusable?
(a) Malware
(b) Phishing
(c) Spoofing
(d) Ransomware
(e) Cryptojacking
19) During a recent NSE event, Madhabi Puri Buch, the chief of Sebi, spoke about the Application Supported by Blocked Amount (ASBA) capability. How much crore may ordinary investors possibly save yearly if the ASBA facility for the secondary market is fully used, as the research pointed out?
(a) Rs.2400crore
(b) Rs.2600crore
(c) Rs.2800crore
(d) Rs.2500crore
(e) Rs.2100crore
20) The growth rate of retail loans decreased from 21.3% YoY in June 2023 to 16.6% YoY in June 2024. What percentage YoY did the non-food credit increase by June 2024, compared to 16.3% YoY the previous year?
(a) 13.9%
(b) 12.9%
(c) 14.9%
(d) 15.9%
(e) 16.9%
Answers :
1) Answer: C
Short Explanation:
World Wide Web Day is celebrated globally on August 1st each year.
1989: Sir Tim Berners-Lee invented the World Wide Web, a revolutionary internet-based communication system.
Detailed Explanation:
World Wide Web Day is celebrated globally on August 1st each year.
The day is dedicated to web browsing and the online activities that bring global information to our fingertips.
It highlights the wealth of knowledge accessible through the internet.
1989: Sir Tim Berners-Lee invented the World Wide Web, a revolutionary internet-based communication system.
1991: The World Wide Web browser was made available on the public internet, marking its wider accessibility.
1993: Launch of the graphical browser Mosaic, which significantly enhanced user interaction with the web.
1994: Introduction of InternetWorks, which allowed users to open multiple tabs in a browser window.
1996: Integration of Internet Explorer into the Windows operating system, further popularizing web browsing.
2) Answer: B
Short Explanation:
World Breastfeeding Week is an annual global healthcare event celebrated from August 1st to 7th.
2024’s Theme: “Closing the Gap: Breastfeeding Support for All“
World Breastfeeding Week has been celebrated since 1990, following the Innocenti Declaration.
Detailed Explanation:
World Breastfeeding Week is an annual global healthcare event celebrated from August 1st to 7th.
This observance unites international and local organizations to emphasize the importance of breastfeeding for both newborns and mothers.
The campaign advocates for women’s rights to breastfeed anytime and anywhere, highlighting the benefits of breastfeeding.
“Closing the Gap: Breastfeeding Support for All“
World Breastfeeding Week has been celebrated since 1990, following the Innocenti Declaration.
Since 2016, the event has aligned with the United Nations’ Sustainable Development Goals (SDGs).
In 2018, a World Health Assembly resolution endorsed World Breastfeeding Week as a vital strategy for promoting breastfeeding globally.
3) Answer: C
Short Explanation:
Former Indian cricketer Anshuman Gaekwad passed away at the age of 71 after a prolonged battle with blood cancer.
In a career that spanned 12 years, Gaekwad played 40 Tests and 15 ODIs, scoring a total of 2254 runs.
He achieved two centuries, with his highest score being 201 against Pakistan in Jalandhar in 1983.
Detailed Explanation:
Former Indian cricketer Anshuman Gaekwad passed away at the age of 71 after a prolonged battle with blood cancer.
In a career that spanned 12 years, Gaekwad played 40 Tests and 15 ODIs, scoring a total of 2254 runs.
He achieved two centuries, with his highest score being 201 against Pakistan in Jalandhar in 1983.
Notably, 1983 World Cup-winning captain Kapil Dev also rallied for monetary support for Gaekwad.
In a compassionate gesture, BCCI Secretary Jay Shah pledged INR 1 crore to aid Gaekwad and directly contacted Gaekwad’s family to extend heartfelt support during this challenging period.
Gaekwad also served as the head coach of the Indian team in two stints, between 1997 and 1999 and in 2000.
Under his coaching, India finished as the runners-up in the 2000 Champions Trophy.
During his tenure, Anil Kumble set the record for becoming the first Indian bowler to pick up 10 wickets in a Test innings at the Arun Jaitley Stadium in New Delhi.
Additionally, Gaekwad served as a national selector in the 1990s and held the position of president of the Indian Cricketers’ Association, demonstrating his continued involvement and influence in the cricketing community.
4) Answer: C
Short Explanation:
Yee ran a perfectly paced 10km, overtaking New Zealand’s Hayden Wilde in the final 300 meters.
Silver:Hayden Wilde (New Zealand): Wilde, the bronze medalist from Tokyo, took an early lead in the run but could not maintain his pace under the harsh conditions, ultimately finishing second.
Bronze:Leo Bergere (France)
Detailed Explanation:
Gold:Alex Yee (Great Britain)
Yee ran a perfectly paced 10km, overtaking New Zealand’s Hayden Wilde in the final 300 meters.
Known for his exceptional running ability, Yee clinched the gold in brutal 30°C conditions, adding another triumph to his illustrious career.
Silver:Hayden Wilde (New Zealand)
Wilde, the bronze medalist from Tokyo, took an early lead in the run but could not maintain his pace under the harsh conditions, ultimately finishing second.
Bronze:Leo Bergere (France)
Bergere secured the bronze, contributing to a successful day for the host nation, following Cassandre Beaugrand’s victory in the women’s race.
5) Answer: A
Short Explanation:
Beaugrand claimed France’s first individual Olympic medal in triathlon, delivering an impressive performance.
She was among the leaders from the start and surged ahead in the final kilometre of the 10km run to secure the gold medal.
Silver:Julie Derron (Switzerland)
Derron continued Switzerland’s strong tradition in Olympic women’s triathlon, finishing six seconds behind Beaugrand.
Detailed Explanation:
Gold:Cassandre Beaugrand (France)
Beaugrand claimed France’s first individual Olympic medal in triathlon, delivering an impressive performance.
She was among the leaders from the start and surged ahead in the final kilometre of the 10km run to secure the gold medal.
Silver:Julie Derron (Switzerland)
Derron continued Switzerland’s strong tradition in Olympic women’s triathlon, finishing six seconds behind Beaugrand.
Her silver adds to the country’s previous successes, including gold medals by Brigitte McMahon in 2000 and Nicola Spirig in 2012.
Bronze:Beth Potter (Great Britain)
Potter’s bronze medal further solidified Great Britain’s status as the most successful nation in the Olympic triathlon, bringing the country’s total medal count to nine.
6) Answer: D
Short Explanation:
Wiffen became the first athlete from Northern Ireland to win an Olympic gold medal in 36 years.
He triumphed in the 800m freestyle final at 7:38.19, setting an Olympic record.
Finke, a formidable competitor, was narrowly defeated by Wiffen’s remarkable final surge.
Detailed Explanation:
Wiffen became the first athlete from Northern Ireland to win an Olympic gold medal in 36 years.
He triumphed in the 800m freestyle final at 7:38.19, setting an Olympic record.
His stunning finish over the last 50 meters allowed him to edge out American Bobby Finke by 0.56 seconds.
Finke, a formidable competitor, was narrowly defeated by Wiffen’s remarkable final surge.
Daniel Wiffen’s victory marks a significant achievement for Northern Ireland, as he is the first athlete from the region to win Olympic gold since Stephen Martin and Jimmy Kirkwood with GB’s hockey team in 1988.
Wiffen is the first Olympian from Northern Ireland to win Olympic gold for Ireland and the first Irish swimmer to win a gold medal since 1996.
This gold medal adds to Wiffen’s remarkable year, following his 800m and 1500m triumphs at the World Championships in Doha.
7) Answer: D
Short Explanation:
Sarah Sjostrom of Sweden won the women’s 100-metre freestyle gold at the Paris Olympics.
Her previous Olympic gold was in the 100m butterfly at the Rio 2016 Games.
Gold: Sarah Sjostrom (Sweden)
Silver: Torri Huske (USA)
Bronze: Siobhan Haughey (Hong Kong)
Detailed Explanation:
Sarah Sjostrom of Sweden won the women’s 100-metre freestyle gold at the Paris Olympics.
The victory came as a surprise, as Sjostrom only decided to race the 100m freestyle shortly before the Games.
At 30 years old, Sjostrom secured her second Olympic gold medal.
Her previous Olympic gold was in the 100m butterfly at the Rio 2016 Games.
Gold: Sarah Sjostrom (Sweden)
Silver: Torri Huske (USA)
Bronze: Siobhan Haughey (Hong Kong)
8) Answer: B
Short Explanation:
The 63rd Subroto Cup football tournament will commence with the Junior girls’ event.
The tournament will be held in the National Capital Region (NCR) from August 5 to 14.
Four grounds, including the iconic Ambedkar Stadium, will host the matches.
Detailed Explanation:
The 63rd Subroto Cup football tournament will commence with the Junior girls’ event.
The tournament will be held in the National Capital Region (NCR) from August 5 to 14.
Four grounds, including the iconic Ambedkar Stadium, will host the matches.
The sub-junior boys competition will take place in Bengaluru from August 19 to 28.
The junior boys event is scheduled to be held in Delhi NCR from September 2 to 11.
A record 111 teams will compete this year, featuring teams from India and international participants from Sri Lanka, Bangladesh, Bhutan, and Nepal.
The Subroto Cup is one of India’s most prestigious youth football tournaments, known for nurturing young talent and promoting football at the grassroots level.
9) Answer: E
Short Explanation:
Leon Marchand from France won his second gold medal at the Paris 2024 Olympics.
He set an Olympic record in the 200-metre butterfly event.
Marchand is aiming for an unprecedented same-day double in the 200-metre butterfly and breaststroke events.
Detailed Explanation:
Leon Marchand from France won his second gold medal at the Paris 2024 Olympics.
He set an Olympic record in the 200-metre butterfly event.
Marchand is aiming for an unprecedented same-day double in the 200-metre butterfly and breaststroke events.
Marchand triumphed in the 200-metre butterfly, setting an Olympic record.
He defeated Hungary’s world record holder and reigning champion Kristof Milak.
Canada’s Ilya Kharun secured the bronze medal.
Marchand is the poster boy for Paris 2024, symbolizing French hopes and athletic excellence.
10) Answer: C
Short Explanation:
Indian Air Force vice chief Air Marshal AP Singh announced that the air exercise ‘Tarang Shakti’ will be the largest international air exercise ever conducted in India, with invitations extended to 51 countries.
The exercise will be held in two phases and aims to boost military cooperation and highlight India’s defence industry, supporting the country’s vision of Atmanirbhar Bharat (self-reliant India).
The Indian Air Force has received confirmation from ten countries for participation with their assets and 18 countries as observers for the exercise.
Detailed Explanation:
Indian Air Force vice chief Air Marshal AP Singh announced that the air exercise ‘Tarang Shakti’ will be the largest international air exercise ever conducted in India, with invitations extended to 51 countries.
The exercise will be held in two phases and aims to boost military cooperation and highlight India’s defence industry, supporting the country’s vision of Atmanirbhar Bharat (self-reliant India).
The Indian Air Force has received confirmation from ten countries for participation with their assets and 18 countries as observers for the exercise.
Phase One: This phase will be conducted at Sulur in Tamil Nadu from August6 to August 14. Countries participating with their assets include France, Germany, Spain, and the United Kingdom. The Indian Navy will also participate in this phase with MiG-29K aircraft.
Phase Two: Held at Jodhpur in Rajasthan from September 1 to 14, this phase will see participation from Australia, Bangladesh, Greece, Singapore, UAE, and the USA with their assets.
11) Answer: B
Short Explanation:
Boeing has named aerospace veteran Robert “Kelly” Ortberg as its next CEO.
Ortberg, who previously led Rockwell Collins’s integration into United Technologies (which later merged with Raytheon to form RTX), will officially take over on August 8.
Retirement from RTX: The 64-year-old retired from RTX in 2021.
Detailed Explanation:
Boeing has named aerospace veteran Robert “Kelly” Ortberg as its next CEO.
Ortberg, who previously led Rockwell Collins’s integration into United Technologies (which later merged with Raytheon to form RTX), will officially take over on August 8.
Retirement from RTX: The 64-year-old retired from RTX in 2021.
737 MAX Incident: Boeing has been under intense scrutiny since a January incident where a 737 MAX operated by Alaska Airlines made an emergency landing after a fuselage panel blew out mid-flight.
Outgoing CEO:Dave Calhoun, who became CEO in January 2020 after Dennis Muilenburg’s ouster, announced he would step down by the end of this year following the Alaska Airlines incident.
Leadership Transition: Calhoun had initially been expected to stay on as CEO until 2028, but the incident hastened his departure.
12) Answer: C
Short Explanation:
India’s core sector output growth fell to 4% in June 2024, marking the slowest growth in 20 months.
This sector accounts for about 40% of the country’s industrial production.
Detailed Explanation:
India’s core sector output growth fell to 4% in June 2024, marking the slowest growth in 20 months.
This sector accounts for about 40% of the country’s industrial production.
Sector-wise Performance in June 2024:
Coal: Production grew by 14.8%, up from 10.2% in May.
Fertilizers: Production increased by 2.4%, compared to a 1.7% contraction in May.
Cement: Output grew by 1.9%, rebounding from a 0.6% contraction in May.
Electricity: Output expanded by 7.7%, down from 13.7% growth in May.
Steel: Growth slowed to 2.7%, from 6.8% in May.
Natural Gas: Growth decreased to 3.3%, from 7.5% in May.
Crude Oil: Output contracted by 2.6%, after a 1.1% contraction in May.
Refinery Products: Output contracted by 1.5%, after a 0.5% growth in May.
Significance of Refinery Products:
The output of refinery products, which contracted by 1.5% in June, represents over 28% of the index for the eight core industries.
13) Answer: B
Short Explanation:
Toyota Kirloskar Motor (TKM) will establish a new greenfield manufacturing facility in Maharashtra, with an investment of approximately Rs 20,000 crore.
The plant will be located in Chhatrapati Sambhaji Nagar.
Detailed Explanation:
Toyota Kirloskar Motor (TKM) will establish a new greenfield manufacturing facility in Maharashtra, with an investment of approximately Rs 20,000 crore.
The plant will be located in Chhatrapati Sambhaji Nagar.
TKM signed a Memorandum of Understanding (MoU) with the Maharashtra government to explore the establishment of this new facility.
TKM is headquartered in Karnataka and already operates two manufacturing units in Bidadi, near Bengaluru.
In Karnataka, TKM and its group companies have invested over Rs 16,000 crore and created approximately 86,000 jobs throughout the value chain.
TKM’s cumulative export contributions are around Rs 32,000 crore, highlighting the company’s strong export focus.
TKM currently has an installed production capacity of 3.42 lakh vehicles per year at its existing Bidadi-based units.
14) Answer: C
Short Explanation:
Wayanad, Kerala, recently experienced a devastating landslide on July 30, highlighting the district’s vulnerability to such natural disasters.
The Indian Space Research Organisation (ISRO) had identified Wayanad as a high-risk area for landslides based on various socio-economic parameters in a 2023 national-level database.
The Landslide Atlas of India, prepared by the National Remote Sensing Centre (NRSC) of ISRO in February 2023, ranked Wayanad 13th among 147 districts in 17 States and two Union Territories based on landslide exposure.
Detailed Explanation:
Wayanad, Kerala, recently experienced a devastating landslide on July 30, highlighting the district’s vulnerability to such natural disasters.
The Indian Space Research Organisation (ISRO) had identified Wayanad as a high-risk area for landslides based on various socio-economic parameters in a 2023 national-level database.
The Landslide Atlas of India, prepared by the National Remote Sensing Centre (NRSC) of ISRO in February 2023, ranked Wayanad 13th among 147 districts in 17 States and two Union Territories based on landslide exposure. Other districts in Kerala also ranked high in this atlas:
Thrissur: 3rd
Palakkad: 5th
Malappuram: 7th
Kozhikode: 10th
A recent report by the Comptroller and Auditor General of India (CAG) highlighted significant forest fragmentation in Wayanad.
The district’s forest land reduced from 1,811.35 sq km in 1950 to 863.86 sq km in 2021, due to increasing areas under plantation and cultivation.
The ISRO database includes a comprehensive landslide inventory covering “seasonal, event-based, and route-wise” incidents from 1998 to 2022. The event-based component documented major disasters, such as the 2021 landslide at Puthumala in Wayanad.
15) Answer: C
Short Explanation:
Vietnamese Prime Minister Pham Minh Chinh’s visit to India from July 30 to August 1, 2024, underscores Vietnam’s growing significance in the Indo-Pacific region.
In 2023, India demonstrated its commitment to deepening defence ties with Vietnam by handing over the in-service missile corvette INS Kirpan to the Vietnam People’s Navy.
The India-Vietnam relationship was elevated to a “strategic partnership” in 2007 and further upgraded to a “comprehensive strategic partnership” during Prime Minister Narendra Modi’s visit to Vietnam in 2016.
Detailed Explanation:
Vietnamese Prime Minister Pham Minh Chinh’s visit to India from July 30 to August 1, 2024, underscores Vietnam’s growing significance in the Indo-Pacific region.
In 2023, India demonstrated its commitment to deepening defence ties with Vietnam by handing over the in-service missile corvette INS Kirpan to the Vietnam People’s Navy.
These efforts align with India’s Act East Policy, which aims to strengthen ties with Southeast Asian countries, including Vietnam.
Vietnam holds a strategic position within India’s Act East Policy and broader Indo-Pacific strategy.
The engagement between India and Vietnam underscores their role in maintaining regional stability and security.
India’s Act East Policy focuses on fostering strong ties with Southeast Asian nations, with defence cooperation as a cornerstone.
The India-Vietnam relationship was elevated to a “strategic partnership” in 2007 and further upgraded to a “comprehensive strategic partnership” during Prime Minister Narendra Modi’s visit to Vietnam in 2016.
In June 2022, Indian Defence Minister Rajnath Singh visited Vietnam, consolidating the partnership by handing over 12 high-speed guard boats built with Indian assistance.
16) Answer: C
Short Explanation:
Prime Minister Shri Narendra Modi received the coffee table book “Call of the Gir,” dedicated to Gir and the Asiatic lions, from Rajya Sabha Member Parimal Nathwani.
Dedication: Nathwani dedicated the book to PM Modi, recognising him as the visionary behind Project Lion and Lion@2047: Vision for Amrit Kaal.
Previous Work: Nathwani’s first coffee table book, “Gir Lions: Pride of Gujarat,” was published by Times Group Books in 2017.
Detailed Explanation:
Prime Minister Shri Narendra Modi received the coffee table book “Call of the Gir,” dedicated to Gir and the Asiatic lions, from Rajya Sabha Member Parimal Nathwani.
The book celebrates the majestic landscapes of Gir, highlighting the urgent need for conservation.
Author: Parimal Nathwani
Book Title: “Call of the Gir”
Publication: Published by QUIGNOG
Dedication: Nathwani dedicated the book to PM Modi, recognising him as the visionary behind Project Lion and Lion@2047: Vision for Amrit Kaal.
Previous Work: Nathwani’s first coffee table book, “Gir Lions: Pride of Gujarat,” was published by Times Group Books in 2017.
17) Answer: A
Short Explanation:
Approval:$1.5 billion for Ethiopia’s budget support.
IMF Program: Ethiopia received a $3.4 billion program from the IMF, following its decision to float its currency.
Overall Package: The $1.5 billion from the World Bank is part of a $10.7billion financial package involving the IMF, World Bank, and other lenders.
Detailed Explanation:
Approval:$1.5 billion for Ethiopia’s budget support.
Components: $1 billion grant + $500 million low-interest credit line.
Significance: First direct budgetary support facility provided to Ethiopia by the World Bank.
IMF Program: Ethiopia received a $3.4 billion program from the IMF, following its decision to float its currency.
Overall Package: The $1.5 billion from the World Bank is part of a $10.7billion financial package involving the IMF, World Bank, and other lenders.
18) Answer: D
Short Explanation:
Attack Impact: A ransomware attack on C-Edge Technologies, a major banking technology provider in India, has led to the temporary shutdown of payment systems at nearly 300 small local banks.
Affected Banks: The ransomware attack primarily impacts small cooperative and regional banks, which make up about 0.5% of the country’s payment system volumes.
Definition:Ransomware is malicious software designed to encrypt a user’s files, rendering them inaccessible until a ransom is paid.
Detailed Explanation:
Attack Impact: A ransomware attack on C-Edge Technologies, a major banking technology provider in India, has led to the temporary shutdown of payment systems at nearly 300 small local banks.
Immediate Response: The National Payment Corporation of India (NPCI) has temporarily isolated C-Edge Technologies from accessing the retail payments system to contain the attack. As a result, customers of affected banks are unable to complete online transactions, such as RTGS and UPI payments.
Affected Banks: The ransomware attack primarily impacts small cooperative and regional banks, which make up about 0.5% of the country’s payment system volumes.
Scope: India’s network includes approximately 1,500 cooperative and regional banks, primarily serving areas outside major cities. These smaller institutions are most affected by the current attack.
Regulatory Warnings: Both the Reserve Bank of India (RBI) and Indian cybersecurity authorities had previously issued warnings about potential cyberattacks.
Definition:Ransomware is malicious software designed to encrypt a user’s files, rendering them inaccessible until a ransom is paid.
19) Answer: C
Short Explanation:
Sebi’s Clarification: The Securities and Exchange Board of India (Sebi) addressed recent media reports inaccurately claiming that it was considering making the T+0 settlement cycle mandatory for all transactions.
Actual Discussion: Sebi’s chief, Madhabi Puri Buch, was actually discussing the Application Supported by Blocked Amount (ASBA) facility during a recent NSE event.
The report highlighted that full adoption of the ASBA facility for the secondary market could potentially save Rs 2,800 crore annually for retail investors
Detailed Explanation:
Sebi’s Clarification: The Securities and Exchange Board of India (Sebi) addressed recent media reports inaccurately claiming that it was considering making the T+0 settlement cycle mandatory for all transactions.
Actual Discussion: Sebi’s chief, Madhabi Puri Buch, was actually discussing the Application Supported by Blocked Amount (ASBA) facility during a recent NSE event.
At the event, Madhabi Puri Buch released a report titled “Indian Capital Markets: Transformative Shifts Achieved through Technology and Reforms.”
The report highlighted that full adoption of the ASBA facility for the secondary market could potentially save Rs 2,800 crore annually for retail investors.
ASBA ensures that investors’ funds are only moved when allotments are completed, providing a safeguard against premature fund transfers.
Buch mentioned that Sebi might propose to its board the idea of making it mandatory for Qualified Stock Brokers to offer ASBA as an option to their clients.
20) Answer: A
Short Explanation:
Overall Decline: Retail loan growth slowed to 16.6% YoY in June 2024 from 21.3% YoY in June 2023.
Non-Food Credit
Overall Growth: Increased by 13.9% YoY in June 2024, down from 16.3% YoY a year ago.
Sector-Specific Trends:
Food Processing and Infrastructure: Increased.
Basic Metal, Metal Products, Textiles: Moderated.
Detailed Explanation:
Overall Decline: Retail loan growth slowed to 16.6% YoY in June 2024 from 21.3% YoY in June 2023.
Personal Loans: Growth in unsecured personal loans dropped to 13.2% YoY from 28.4% YoY.
Housing Loans: Growth in housing loans accelerated to 18.2% YoY from 14.8% YoY.
Non-Food Credit
Overall Growth: Increased by 13.9% YoY in June 2024, down from 16.3% YoY a year ago.
Credit to Industry
Overall: Rose to 7.7% YoY in June 2024 from 7.4% YoY.
Large Industries: Improved to 6.9% YoY from 5.4% YoY.
Sector-Specific Trends:
Food Processing and Infrastructure: Increased.
Basic Metal, Metal Products, Textiles: Moderated.
Credit to the Service Sector
Overall: Moderated to 15.1% YoY from 26.8% YoY.
NBFCs: Growth dropped sharply to 8.5% YoY from 34.7% YoY.
Trade: Declined to 14.8% YoY from 18.5% YoY.
Credit to Agriculture and Allied Activities
Growth: Remained robust at 17.4% YoY, although lower than 19.7% YoY in June 2023.
