Daily Current Affairs Quiz – 04th December 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 04th December 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.

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1) Recently(Dec’24),Which company’s limits on loan approval and disbursement were removed by the Reserve Bank of India (RBI) with immediate effect?

(a) Shriram Finance

(b) Navi Finserv

(d) Aditya Birla

(e) Tata AIA

2) Recently(Dec’24), India has given the BRICS New Development Bank (NDB) close to $2 billion. Which nation prepared the report in 2024 while serving as the BRICS chairman?

(a) Brazil

(b) Russia

(d) South Korea

(e) Ethiopia

3) In response to the growing strain in the microloan industry, the microfinance industry network tightens loan underwriting standards. MFIs are not allowed to lend to non-performing assets (NPAs) whose past-due loans total more than ₹3,000 and whose default time exceeds a _______number of days.

(a) 50

(b) 60

(d) 90

(e) 30

4) Which digital payments provider has chosen to interface with merchants directly after terminating its collaboration with Juspay, a payment orchestration platform?

(a) Paytm

(b) Phonepe

(d) Razorpay

(e) PayU

5) As part of its co-lending arrangement with the State Bank of India (SBI), Kochi-based microfinance company Muthoot Microfin has begun disbursing loans. Customers who have been identified and found to be qualified will receive loans ranging from ₹50,000 to how many lakhs?

(a) ₹3 lakh

(b) ₹1 lakh

(d) ₹4 lakh

(e) ₹5 lakh

6) Recently(Dec’24), the South Indian Bank has expanded its financial infrastructure by opening its second huge currency chest in Kakkanad, near Kochi, bringing its total number of currency chests to ____________so far.

(a) 5

(b) 6

(d) 4

(e) 8

7) A specially designed auto loan product has been made available to Uber’s fleet partners only by the State Bank of India (SBI).What percentage of India’s auto loan market is held by SBI, confirming its dominance in the auto finance industry?

(a) 19.2%

(b) 17.2%

(d) 15.2%

(e) 16.2%

8) How many crores does Newgen Software secure for the implementation of the Reserve Bank of India’s Regulatory Application Management System?

(a) ₹32.44 crore

(b) ₹31.44 crore

(d) ₹34.44 crore

(e) ₹35.44 crore

9) As per the report, ______________ has been named the Oxford Word of the Year 2024 by the Oxford University Press (OUP), reflecting a societal emphasis on the negative effects of excessive consumption of poor quality online content, especially through social media.

(a) Brat

(b) Weird

(d) Vape

(e) Geek

10) Recently(Dec’24), Which item has been formally designated as a “High-Risk Food Category” by the Food Safety and Standards Authority of India (FSSAI)?

(a) Dairy Products

(b) Cooked rice

(d) Soup & Gravy

(e) Shellfish

11) The Lok Sabha was presented with the Coastal Shipping Bill, 2024, which aims to streamline and modernize India’s maritime industry. India is close to important international shipping lanes and has a coastline of how many kilometers?

(a) 6500km

(b) 5500km

(d) 8500km

(e) 4500km

12) On December 2, 2024, Telangana Chief Minister A. Revanth Reddy opened how many transgender clinics (Maitri Clinics), one in each Telangana district?

(a) 31

(b) 32

(d) 34

(e) 35

13) Prior to the 2025 Maha Kumbh Mela, the Uttar Pradesh government announced the Maha Kumbh Mela region as a new district. How many villages from the Prayagraj district’s four tehsils are included in the notification?

(a) 65

(b) 67

(d) 69

(e) 66

14) The Madhya Pradesh (MP) government has formally declared Ratapani Wildlife Sanctuary a tiger reserve, making it the state’s ______-tiger reserve.

(a) 9th

(b) 5th

(d) 7th

(e) 8th

15) The Group of Ministers (GoM), led by Bihar’s Deputy Chief Minister Samrat Chaudhary, suggested major changes to the GST structure. The GST rate for aerated beverages, cigarettes, tobacco, and associated products will increase from what percentage to 35%?

(a) 27%

(b) 25%

(d) 28%

(e) 29%

16) Which network’s competitor has taken a similar tack to Vodafone Idea’s (Vi) introduction of an AI and ML-driven spam control solution to shield consumers from unsolicited and potentially dangerous SMS messages?

(a) BSNL

(b) Bharati Airtel

(d) MTNL

(e) Paytm

17) Which business had said that it was working with the Indian Cyber Crime Coordination Centre (I4C) and the Ministry of Home Affairs (MHA) to improve cybersecurity in India’s digital payments ecosystem?

(a) Paytm

(b) Phonepe

(d) CRED

(e) PayU

18) Which operator has formally petitioned the Telecom Regulatory Authority of India (TRAI) to eliminate the DTH operators’ licensing charge or impose an authorization fee on all broadcasting industry service providers?

(a) BSNL

(b) Bharati Airtel

(d) MTNL

(e) VI

19) Which business has formally opened Shikara, Asia’s first water transport service, in Dal Lake, Srinagar, Jammu & Kashmir?

(a) Uber

(b) Ola

(d) Baxi

(e) Safe Boda

20) At the 2023 FIPI Oil & Gas Awards, GAIL (India) Limited received the esteemed “Initiatives in Promoting Hydrogen Company of the Year” award.In Which state’s 4.3 TPD Green Hydrogen pilot project earned GAIL special recognition?

(a) Gujarat

(b) Maharashtra

(d) Madhya Pradesh

(e) Odisha

21) Which company has signed a non-binding Memorandum of Understanding (MoU) to investigate the development of a coal to synthetic natural gas (SNG) project with Coal India Limited (CIL), both Maharatna Public Sector Undertakings (PSUs) under the Government of India?

(a) GAIL

(b) ONGC

(d) IOCL

(e) HPCL

22) In an attempt to decarbonize its distribution operations, Essar Group’s GreenLine Mobility Solutions Ltd. has established a cooperation with which business to implement LNG-powered trucks?

(a) Amazon

(b) Flipkart

(d) Paytm

(e) CRED

23) In which state did Navratna CPSE Housing and Urban Development Corporation Limited (HUDCO) launch a gift milk program to fight malnutrition?

(a) Manipur

(b) Chattisgarh

(d) Odisha

(e) Gujarat

24) The Baku-Tbilisi-Ceyhan (BTC) pipeline and Equinor’s interest in the Azeri Chirag Gunashli (ACG) oilfield were purchased by ONGC Videsh Limited (OVL), the international division of Oil and Natural Gas Corporation (ONGC), for what amount of money?

(a) USD 60 million

(b) USD 50 million

(d) USD 30 million

(e) USD 20 million

25) What percentage of US-based Wavetech Helium, Inc. (WHI) was purchased by Reliance Finance and Investments USA LLC (RFIUL), a US subsidiary of Reliance Industries (RIL)?

(a) 20%

(b) 21%

(d) 23%

(e) 25%

26) The INS Arighaat, the second nuclear ballistic missile submarine (SSBN) of the Indian Navy, successfully shot an SLBM. How many kilometers could the K4 SLBM, the missile under test, travel?

(a) 2500km

(b) 1500km

(d) 1000km

(e) 2000km

27) Recently(Dec’24) Google is being investigated by the Competition Commission of India for alleged anti-competitive behavior in the real money gaming industry. In which year did Google’s Play Store pilot program allow only DFS and Rummy apps, excluding other RMG apps, according to Winzo?

(a) 2020

(b) 2021

(d) 2023

(e) 2019

28) The Badminton World Federation (BWF) has nominated India’s Paralympic champion _______________ for the coveted Men’s Para-Badminton Player of the Year award.

(a) Kumar Nitesh

(b) Arun Goel

(d) Dinesh Karthik

(e) Sampath Raj

29) When was Indian Navy Day 2024 observed?

(a) December 1

(b) December 2

(d) December 4

(e) November 30

30) Where was the Nauradehi Wildlife Sanctuary located?

(a) Gujarat

(b) Maharashtra

(d) Madhya Pradesh

(e) Odisha

Answers :

1) Answer: B

Short Explanation:

The Reserve Bank of India (RBI) lifted restrictions on Navi Finserv concerning the sanction and disbursal of loans, effective immediately.

Navi Finserv was previously prohibited from sanctioning and disbursing loans since October 17, 2024, due to issues related to its pricing policy, specifically the Weighted Average Lending Rate (WALR) and excessive interest spread charged over its cost of funds.

Detailed Explanation:

The Reserve Bank of India (RBI) lifted restrictions on Navi Finserv concerning the sanction and disbursal of loans, effective immediately.

Reasons for Restrictions:The restrictions were imposed due to material supervisory concerns over Navi Finserv’s loan pricing practices, which were deemed excessive and not in compliance with regulatory guidelines.

The company provided the RBI with satisfactory submissions outlining the changes made to ensure fairness in loan pricing and compliance with regulatory guidelines.

Other Affected Companies:Asirvad Micro Finance, Arohan Financial Services, and DMI Finance still remain under the restrictions imposed by RBI.

RBI’s Oversight on the NBFC Sector:The RBI’s decision follows warnings by RBI Governor Shaktikanta Das during the October monetary policy regarding unfair business practices, reckless growth, and exorbitant interest rates charged by some non-banking financial companies (NBFCs).

2) Answer: B

Short Explanation:

India has contributed nearly $2 billion to the BRICS New Development Bank (NDB).

The contribution was paid in seven instalments from the fiscal year 2015-16 to 2021-22.

The report prepared by Russia during its BRICS chairmanship in 2024 highlighted that BRICS does not aim to replace the US dollar but rather to offer a viable alternative to improve global economic efficiency and promote inclusive globalization.

Detailed Explanation:

India has contributed nearly $2 billion to the BRICS New Development Bank (NDB).

The contribution was paid in seven instalments from the fiscal year 2015-16 to 2021-22.

Ongoing Externally Aided Projects:20 externally aided projects are currently underway in India, funded by the NDB, with a total loan amount of $4,867 million.

BRICS Joint Currency and US Dollar:In response to a Lok Sabha query, the Finance Ministry clarified India’s stance on a joint currency for BRICS nations.

US Dollar’s Dominance:Despite the rise in alternatives, the US dollar remains dominant in global trade, accounting for over 90% of transactions.

3) Answer: D

Short Explanation:

The Microfinance Industry Network (MFIN), an RBI-recognized self-regulatory organization (SRO), has further tightened the loan underwriting standards due to rising stress in the microloan sector.

Non-Performing Asset (NPA) Guidelines:MFIs cannot lend to borrowers who are NPAs (non-performing assets) with overdue loans greater than ₹3,000 and a default period of over 90 days.

Detailed Explanation:

Indebtedness Limit:The total indebtedness of a microfinance borrower is capped at ₹2 lakh, which includes both microfinance loans and unsecured retail loans.

Non-Performing Asset (NPA) Guidelines:MFIs cannot lend to borrowers who are NPAs (non-performing assets) with overdue loans greater than ₹3,000 and a default period of over 90 days.

The new norm tightens this further, stating that borrowers whose repayments are overdue for more than 60 days will not be eligible for fresh loans.

Interest Rate Review:MFIN has mandated that MFI loan interest rates must be reviewed by the board of member organisations to ensure that any efficiency gains are passed on to the clients.

Industry Growth Outlook:India Ratings & Research has predicted that the growth of MFIs in FY25 will either flatten or decline due to funding challenges and asset quality issues.

4) Answer: B

Short Explanation:

PhonePe, a Walmart-backed digital payments platform, has ended its partnership with Juspay, a payment orchestration platform, and decided to integrate with merchants directly.

Detailed Explanation:

PhonePe, a Walmart-backed digital payments platform, has ended its partnership with Juspay, a payment orchestration platform, and decided to integrate with merchants directly.

RBI Payment Aggregator Licenses:

BharatPe received the RBI payment aggregator license in January 2023.

Google Pay received the license in December 2023.

Amazon Pay received the license in 2024.

RBI cancelled Paytm’s license in November 2022, but Paytm plans to re-apply.

PhonePe received the payment aggregator license in March 2023.

Payment Aggregators vs. Payment Orchestrators:

A payment aggregator provides payment platform services allowing merchants to accept various payment methods like debit/credit cards, UPI, wallets, and bank transfers.

A payment orchestrator routes transactions through the most successful aggregator platform, optimizing payment processing.

Impact on Juspay:Juspay, which accounted for 15% of PhonePe’s payment gateway volume, may face a reduction in its business if other platforms follow PhonePe’s approach of direct integration.

5) Answer: A

Short Explanation:

Muthoot Microfin, a Kochi-based microfinance institution, has started loan disbursements under its co-lending partnership with the State Bank of India (SBI).

Loan Limit:SBI has sanctioned a total limit of ₹500 crore for this partnership, to be disbursed in tranches of ₹100 crore.

Loan Amounts and Target Audience:Loans ranging from ₹50,000 to ₹3 lakh will be provided to identified and eligible customers.

Detailed Explanation:

Muthoot Microfin, a Kochi-based microfinance institution, has started loan disbursements under its co-lending partnership with the State Bank of India (SBI).

Loan Limit:SBI has sanctioned a total limit of ₹500 crore for this partnership, to be disbursed in tranches of ₹100 crore.

Loan Amounts and Target Audience:Loans ranging from ₹50,000 to ₹3 lakh will be provided to identified and eligible customers.

The focus is on members of Joint Liability Groups (JLGs), primarily involved in agriculture, allied activities, and other income-generating ventures.

Geographical Expansion:Muthoot Microfin operates in 20 states and plans to expand this initiative pan-India to improve access to credit for rural entrepreneurs.

6) Answer: B

Short Explanation:

South Indian Bank has expanded its banking infrastructure by opening its second mega currency chest at Kakkanad, near Kochi, making it its sixth currency chest in total.

Inauguration Ceremony:The facility was inaugurated by Thomas Mathew, Regional Director (Kerala & Lakshadweep), Reserve Bank of India (RBI), Thiruvananthapuram.

Detailed Explanation:

South Indian Bank has expanded its banking infrastructure by opening its second mega currency chest at Kakkanad, near Kochi, making it its sixth currency chest in total.

Inauguration Ceremony:The facility was inaugurated by Thomas Mathew, Regional Director (Kerala & Lakshadweep), Reserve Bank of India (RBI), Thiruvananthapuram.

Geographical Coverage:The newly inaugurated currency chest at Kakkanad will serve the bank’s branches in Ernakulam and other adjacent regions.

Strategic Strengthening:This move strengthens South Indian Bank’s infrastructure and reinforces its position as a leading financial institution committed to adapting to the evolving needs of customers in the region.

7) Answer: A

Short Explanation:

The State Bank of India (SBI) has introduced a customized vehicle loan product exclusively for Uber’s fleet partners.

SBI’s Auto Loan Market Share:SBI holds a 19.2% market share in auto loans across India, reinforcing its leadership in vehicle financing.

Detailed Explanation:

The State Bank of India (SBI) has introduced a customized vehicle loan product exclusively for Uber’s fleet partners.

Loan Features:The product offers low-cost, tailored financing solutions and ensures hassle-free loan disbursement to fleet partners.

Strategic Partnership:The partnership between SBI and Uber combines SBI’s extensive financial services network with Uber’s technology platform.

The initiative aims to help fleet partners expand their fleet and scale up operations, contributing to the growth of the ride-hailing industry.

SBI’s Auto Loan Market Share:SBI holds a 19.2% market share in auto loans across India, reinforcing its leadership in vehicle financing.

8) Answer: A

Short Explanation:

Newgen Software Technologies Limited has received a purchase order worth ₹32.44 crore from the Reserve Bank of India (RBI) for implementing and maintaining the Regulatory Application Management System (RAMS).

The total value of the order is ₹32.44 crore, which includes 18% GST.

Detailed Explanation:

The total value of the order is ₹32.44 crore, which includes 18% GST.

The order is to be executed over a period of seven years.

The order is subject to acceptance of all terms and conditions outlined in the Request for Proposal (RFP) and the purchase order by Newgen Software Technologies.

Newgen Software Technologies is a leading provider of a unified digital transformation platform, offering capabilities in process automation, content services, and communication management.

9) Answer: C

Short Explanation:

The Oxford University Press (OUP) has declared ‘brain rot’ as the Oxford Word of the Year 2024, reflecting a societal focus on the consequences of excessive consumption of low-quality online content, particularly through social media.

This decision followed a global public vote involving over 37,000 participants, underscoring the phrase’s resonance in contemporary discourse.

Detailed Explanation:

This decision followed a global public vote involving over 37,000 participants, underscoring the phrase’s resonance in contemporary discourse.

Primary Meaning: Refers to both the low-quality digital content pervasive on platforms like TikTok and the cognitive and emotional toll of consuming such material.

Cultural Relevance: Captures the zeitgeist of 2024, marked by widespread concerns about the mental health impacts of unchecked digital consumption.

Coined by Henry David Thoreau in his seminal 1854 work Walden, where it metaphorically described mental stagnation or intellectual decay.

10) Answer: C

Short Explanation:

The Food Safety and Standards Authority of India (FSSAI) has officially classified packaged drinking water and mineral water as part of the ‘High-Risk Food Category’.

This change follows the government’s decision to remove the Bureau of Indian Standards (BIS) certification requirement for these products.

Detailed Explanation:

The Food Safety and Standards Authority of India (FSSAI) has officially classified packaged drinking water and mineral water as part of the ‘High-Risk Food Category’.

This change follows the government’s decision to remove the Bureau of Indian Standards (BIS) certification requirement for these products.

Packaged drinking water and mineral water will now be subject to mandatory inspections and third-party audits by food safety agencies recognized by FSSAI.

This applies before the grant of license or registration for businesses involved in producing these products.

The shift follows the removal of BIS certification for these products as part of the Food Safety and Standards (Prohibition and Restrictions on Sales) Amendment Regulations, 2024.

FSSAI will now treat these products as high-risk foods, which includes requiring annual audits by FSSAI-recognized third-party auditing agencies.

11) Answer: C

Short Explanation:

The Coastal Shipping Bill, 2024 was introduced in the Lok Sabha with the aim of modernizing and simplifying India’s maritime sector.

India, with its 7,500-kilometer coastline and proximity to major international shipping lanes, is well-positioned to expand coastal shipping, which is considered more cost-effective compared to other modes of transport.

Detailed Explanation:

The Coastal Shipping Bill, 2024 was introduced in the Lok Sabha with the aim of modernizing and simplifying India’s maritime sector.

This bill is designed to enhance the efficiency and competitiveness of the maritime industry, particularly benefiting domestic shipping companies.

The bill proposes the removal of the requirement for Indian-flagged ships to obtain trading licenses for coastal commerce. This aims to simplify regulatory processes, making it easier for domestic shipping companies to engage in coastal shipping.

To enable Indian vessels to meet international standards, the bill seeks to align national legislation governing international trade ships with global standards. This will help Indian shipping companies become more competitive on the global stage.

A National Database of Coastal Shipping will be created to facilitate information sharing and ensure procedural transparency within the maritime industry.

12) Answer: C

Short Explanation:

Telangana Chief Minister A. Revanth Reddy inaugurated 33 transgender clinics (Maitri Clinics), one in each district of Telangana on December 2, 2024.

Objective: To provide free health check-ups, diagnostic tests, and medicines for transgender individuals, ensuring inclusive healthcare.

Each clinic is staffed by a medical doctor trained in transgender healthcare, a counsellor, and a transgender Community Champion.

Detailed Explanation:

Telangana Chief Minister A. Revanth Reddy inaugurated 33 transgender clinics (Maitri Clinics), one in each district of Telangana on December 2, 2024.

Objective: To provide free health check-ups, diagnostic tests, and medicines for transgender individuals, ensuring inclusive healthcare.

Each clinic is staffed by a medical doctor trained in transgender healthcare, a counsellor, and a transgender Community Champion.

Clinics operate every Tuesday and Thursday from 9 a.m. to 1 p.m.

The initiative is India’s first comprehensive state-wide healthcare support system dedicated to transgender individuals.

Flag-off: The Chief Minister flagged off 213 new ambulances, increasing the fleet from 790 to 1,003.

Features: Each ambulance is equipped with GPS for real-time monitoring and tracking, along with a trained emergency response team.

Inauguration: 16 Nursing and 28 Paramedical Colleges were inaugurated.

Capacity Increase:

Nursing colleges: 960 additional B.Sc. Nursing seats, raising the total from 1,400 to 2,360.

Paramedical colleges: 1,680 additional seats, raising the total from 1,492 to 3,172.

13) Answer: B

Short Explanation:

The Uttar Pradesh government declared the Maha Kumbh Mela area as a new district ahead of the 2025 Maha Kumbh Mela.

The district will officially be known as the Maha Kumbh Mela District.

The notification was issued on December 1, 2024, under Section 2(th) of the Uttar Pradesh Prayagraj Mela Authority, Prayagraj Act, 2017.

The notification covers 67 villages from four tehsils of Prayagraj district:

Sadar tehsil: 25 villages

Sorav tehsil: 3 villages

Phulpur tehsil: 20 villages

Karchana tehsil: 19 villages

Detailed Explanation:

The Uttar Pradesh government declared the Maha Kumbh Mela area as a new district ahead of the 2025 Maha Kumbh Mela.

The district will officially be known as the Maha Kumbh Mela District.

The notification was issued on December 1, 2024, under Section 2(th) of the Uttar Pradesh Prayagraj Mela Authority, Prayagraj Act, 2017.

The notification covers 67 villages from four tehsils of Prayagraj district:

Sadar tehsil: 25 villages

Sorav tehsil: 3 villages

Phulpur tehsil: 20 villages

Karchana tehsil: 19 villages

The Mela Adhikari (Kumbh Mela Officer) will exercise the powers of Executive Magistrate, District Magistrate, and Additional District Magistrate under:

Section 14(1) of the Indian Civil Defense Code, 2023

Other provisions under the law currently in force

The Mela Adhikari will also have the powers of a Collector for all categories of cases.

Purpose of the Decision:The move is aimed at ensuring better management of the 2025 Maha Kumbh Mela, scheduled for January 2025.

14) Answer: E

Short Explanation:

The Madhya Pradesh (MP) government has officially declared Ratapani Wildlife Sanctuary as a tiger reserve, marking it as the 8th tiger reserve in the state.

Kanha, Satpura, Bandhavgarh, Pench, Sanjay Dubri, Panna and Veerangana Durgavati are the existing tiger reserves in MP.

The National Tiger Conservation Authority (NTCA) had earlier given in-principle approval for this move.

Detailed Explanation:

The Madhya Pradesh (MP) government has officially declared Ratapani Wildlife Sanctuary as a tiger reserve, marking it as the 8th tiger reserve in the state.

Kanha, Satpura, Bandhavgarh, Pench, Sanjay Dubri, Panna and Veerangana Durgavati are the existing tiger reserves in MP.

The National Tiger Conservation Authority (NTCA) had earlier given in-principle approval for this move.

Rich Biodiversity in Ratapani Sanctuary:The sanctuary is home to over 60 tigers and a variety of other wildlife species.

Eco-Tourism and Employment Opportunities:The declaration of the tiger reserve will boost eco-tourism and provide employment opportunities for locals.

This will also lead to increased Central funding for wildlife conservation activities.

Next Tiger Reserve: Madhav National Park:Following the approval for Ratapani, Madhav National Park in Shivpuri is also on track to become the 9th tiger reserve in the state once the formal notification is issued.

15) Answer: D

Short Explanation:

The Group of Ministers (GoM), headed by Bihar’s Deputy Chief Minister Samrat Chaudhary, proposed significant changes to the Goods and Services Tax (GST) structure.

These recommendations will be presented to the GST Council on December 21, 2024, for final approval.

GST rate on aerated beverages, cigarettes, tobacco, and related products will increase from 28% to 35%.

This introduces a new tax slab while retaining the existing four-tier GST structure of 5%, 12%, 18%, and 28%.

Detailed Explanation:

The Group of Ministers (GoM), headed by Bihar’s Deputy Chief Minister Samrat Chaudhary, proposed significant changes to the Goods and Services Tax (GST) structure.

These recommendations will be presented to the GST Council on December 21, 2024, for final approval.

GST rate on aerated beverages, cigarettes, tobacco, and related products will increase from 28% to 35%.

This introduces a new tax slab while retaining the existing four-tier GST structure of 5%, 12%, 18%, and 28%.

Readymade garments priced:

Up to ₹1,500: Attract 5% GST.

Between ₹1,500 and ₹10,000: Attract 18% GST.

Above ₹10,000: Attract 28% GST.

Luxury and demerit goods like cars, aerated water, and tobacco products will continue to attract cess on top of the highest GST slab.

Proposed changes from the October 2024 meeting include:

Packaged drinking water (20L and above): GST reduced from 18% to 5%.

Bicycles under ₹10,000: GST reduced from 12% to 5%.

Exercise notebooks: GST reduced from 12% to 5%.

Shoes above ₹15,000 per pair: GST increased from 18% to 28%.

Wristwatches above ₹25,000: GST increased from 18% to 28%.

16) Answer: B

Short Explanation:

Vodafone Idea (Vi) has introduced an AI and ML-driven spam management solution to protect users from unwanted and potentially harmful SMS messages, following a similar approach by rival Bharti Airtel.

Employs artificial intelligence (AI) and machine learning (ML) to identify and flag spam messages in real time.

The system flagged over 24 million spam messages during its testing phase.

Detailed Explanation:

Employs artificial intelligence (AI) and machine learning (ML) to identify and flag spam messages in real time.

The system flagged over 24 million spam messages during its testing phase.

Detects and manages unsolicited messages, safeguarding users against phishing and fraud attempts.

Enhances user safety with proactive, real-time spam control.

Simplifies the spam reporting process by:

Capturing spam content automatically (SMS details, sender numbers, dates).

Offering the option to whitelist legitimate brand URLs.

17) Answer: C

Short Explanation:

Fintech leader Razorpay announced its collaboration with the Ministry of Home Affairs (MHA) and the Indian Cyber Crime Coordination Centre (I4C) to enhance cybersecurity in India’s digital payments ecosystem.

Drive nationwide awareness campaigns to educate businesses and consumers on:

Identifying financial fraud.

Preventing cyber threats.

Safeguarding online transactions.

Detailed Explanation:

Drive nationwide awareness campaigns to educate businesses and consumers on:

Identifying financial fraud.

Preventing cyber threats.

Safeguarding online transactions.

Razorpay has integrated with over 1,600 cybercrime stations across 25 states and union territories to create a seamless communication channel for combating cybercrime.

Conducting specialized anti-fraud workshops for law enforcement and businesses.

Provide businesses and end-users with critical knowledge to protect themselves against cyber fraud.

Showcase advanced fraud prevention technologies to reduce vulnerabilities in the digital payments landscape.

Daily Reports: Over 7,000 complaints of digital fraud were reported daily between January and April 2024 on the National Cybercrime Reporting Portal.

Financial Fraud Dominance: A staggering 85% of complaints pertained to financial fraud.

18) Answer: B

Short Explanation:

Bharati Airtel Limited (BAL) has made a formal submission to the Telecom Regulatory Authority of India (TRAI), urging the removal of the license fee for DTH operators or the imposition of an authorization fee for all service providers in the broadcasting sector.

The submission is part of a consultation paper on service authorizations for broadcasting services under the Telecom Act, 2023.

Detailed Explanation:

The submission is part of a consultation paper on service authorizations for broadcasting services under the Telecom Act, 2023.

Airtel claims that DTH operators are the only service providers in the broadcasting sector who are subjected to license fees, creating an unequal and discriminatory environment.

The company stresses that Cable and HITS (Headend-In-The-Sky) operators, who offer similar services, are not required to pay the license fee, which violates the “same-service-same-rules” principle.

Airtel pointed to TRAI’s 2023 recommendations that suggested a reduction in the DTH license fee from 8% to 3%, and eventually to zero by FY 2026-27. However, these recommendations were not included in the recent Draft DTH License.

19) Answer: A

Short Explanation:

Uber has officially launched Asia’s first water transport service, Uber Shikara, in Dal Lake, Srinagar, Jammu and Kashmir.

This innovative service combines technology with the traditional shikara ride, a centuries-old cultural experience, offering a modern, hassle-free way for tourists to explore the picturesque lake.

Launch Event: The service was inaugurated by Prabhjeet Singh, President of Uber India and South Asia, who personally booked a ride via the Uber app to mark the launch.

Detailed Explanation:

Uber has officially launched Asia’s first water transport service, Uber Shikara, in Dal Lake, Srinagar, Jammu and Kashmir.

This innovative service combines technology with the traditional shikara ride, a centuries-old cultural experience, offering a modern, hassle-free way for tourists to explore the picturesque lake.

Launch Event: The service was inaugurated by Prabhjeet Singh, President of Uber India and South Asia, who personally booked a ride via the Uber app to mark the launch.

Objective: The aim of Uber Shikara is to improve accessibility and enhance the tourism experience in Kashmir, making traditional Shikara rides more convenient through the power of technology.

Users can now book shikara rides directly through the Uber app, eliminating the need for negotiations with boat operators.

Uber has partnered with seven local Shikara owners to provide the service, with plans to expand based on demand.

The rides are priced according to government-regulated rates, ensuring tourists are charged fairly.

20) Answer: D

Short Explanation:

GAIL (India) Limited has been honoured with the prestigious “Initiatives in Promoting Hydrogen Company of the Year” award at the FIPI Oil & Gas Awards 2023.

Green Hydrogen Pilot Project: GAIL was specifically recognized for its 4.3 TPD Green Hydrogen pilot project at Vijaipur, Madhya Pradesh. This project, based on a 10 MW Proton Exchange Membrane (PEM) electrolyzer, produces ultra-pure hydrogen (99.999%).

Detailed Explanation:

GAIL (India) Limited has been honoured with the prestigious “Initiatives in Promoting Hydrogen Company of the Year” award at the FIPI Oil & Gas Awards 2023.

The award was presented by Hardeep S Puri, Union Minister of Petroleum and Natural Gas, during a ceremony held in New Delhi.

Hydrogen Technology Leadership: The award recognizes GAIL’s pioneering efforts in advancing hydrogen technology, with significant investments in research and development.

Alignment with National Green Hydrogen Mission: The project aligns with India’s National Green Hydrogen Mission (NHGM), contributing to the country’s clean energy goals.

21) Answer: C

Short Explanation:

Bharat Petroleum Corporation Limited (BPCL) and Coal India Limited (CIL), both Maharatna Public Sector Undertakings (PSUs) under the Government of India, have signed a Non-Binding Memorandum of Understanding (MoU) to explore the development of a Coal to Synthetic Natural Gas (SNG) project.

Detailed Explanation:

This collaboration aims to leverage India’s abundant coal reserves to produce clean synthetic natural gas, contributing to the country’s energy transition goals.

The partnership will utilize surface coal gasification technology at Western Coalfields Limited (WCL), a subsidiary of CIL, to produce synthetic natural gas (SNG) from coal. This project is aligned with India’s efforts to reduce dependence on imported energy sources and focus on domestic energy production.

The initiative supports India’s broader energy transition objectives by utilizing coal — a major domestic resource — in a cleaner, more sustainable way, which contributes to reducing carbon emissions associated with traditional coal use.

22) Answer: B

Short Explanation:

Essar Group’s GreenLine Mobility Solutions Ltd has announced a partnership with Flipkart to deploy LNG-powered trucks as part of Flipkart’s efforts to decarbonize its delivery operations.

Detailed Explanation:

This initiative aligns with both companies’ sustainability goals and marks a significant step in reducing the carbon footprint of the e-commerce and logistics sectors.

25 LNG-powered trucks will be deployed initially, each equipped with 46-foot containers, offering a capacity of 110 cubic meters (CBM).

These trucks will transport a range of goods, including B2B (business-to-business) and B2C (business-to-consumer) deliveries.

Initially, the trucks will operate on West to North India routes, with plans to expand to North to South and West to South corridors.

23) Answer: B

Short Explanation:

In a significant move to address malnutrition among schoolchildren, Housing and Urban Development Corporation Limited (HUDCO), a Navratna CPSE, launched the Gift Milk Programme in the districts of Rajnandgaon, Bilaspur, and Mungeli in Chhattisgarh.

Detailed Explanation:

This initiative is part of HUDCO’s Corporate Social Responsibility (CSR) efforts to combat under-nutrition in children.

Inauguration: The program was inaugurated by Tokhan Sahu, Minister of State for Housing and Urban Affairs, at the Government School Sendri in Bilaspur on November 30, 2024.

Objective: The Gift Milk Programme aims to provide fortified flavored milk to school children to help combat malnutrition and support their physical and cognitive development.

Beneficiaries: The initiative will benefit 8,000 children across 83 government primary and middle schools (Classes 1 to 8), with special focus on girls’ schools and tribal areas.

24) Answer: A

Short Explanation:

ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), acquired Equinor’s stake in the Azeri Chirag Gunashli (ACG) oilfield and the Baku-Tbilisi-Ceyhan (BTC) pipeline for USD 60 million.

The acquisition was completed on November 29, 2024, through OVL’s wholly-owned subsidiary, ONGC BTC Limited.

Stake Details:OVL acquired a 0.615% participating interest (PI) in the ACG oilfield and a 0.737% share in the BTC pipeline.

Detailed Explanation:

The acquisition was completed on November 29, 2024, through OVL’s wholly-owned subsidiary, ONGC BTC Limited.

Stake Details:OVL acquired a 0.615% participating interest (PI) in the ACG oilfield and a 0.737% share in the BTC pipeline.

OVL’s pre-existing stakes in these assets are 2.31% in the ACG oilfield and 2.36% in the BTC pipeline, which will increase following this acquisition.

Sale-Purchase Agreement:The deal was finalized after signing the Sale-Purchase Agreement (SPA) in July 2024.

Strategic Importance:The acquisition strengthens OVL’s position in key international oilfields.

The ACG oilfield is among the largest in Azerbaijan, and the BTC pipeline is a major crude oil export route.

25) Answer: B

Short Explanation:

A US subsidiary of Reliance Industries (RIL), Reliance Finance and Investments USA LLC (RFIUL), acquired a 21% stake in US-based Wavetech Helium, Inc. (WHI).

The acquisition was completed through a stock purchase agreement for an aggregate consideration of $12 million.

Detailed Explanation:

A US subsidiary of Reliance Industries (RIL), Reliance Finance and Investments USA LLC (RFIUL), acquired a 21% stake in US-based Wavetech Helium, Inc. (WHI).

The acquisition was completed through a stock purchase agreement for an aggregate consideration of $12 million.

Strategic Focus:The investment aligns with RIL’s efforts to explore opportunities in the helium gas segment, which has a lower carbon footprint.

The acquisition supports RIL’s long-term goal of achieving net zero carbon emissions by 2035.

Wavetech Helium (WHI):WHI is a US-based helium gas exploration and production company.

It specializes in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.

Significance of Helium:Helium is a critical resource used in industries such as healthcare, technology, and space exploration.

26) Answer: C

Short Explanation:

The Indian Navy’s second nuclear ballistic missile submarine (SSBN), INS Arighaat, successfully fired a Submarine Launched Ballistic Missile (SLBM).

The missile tested was the K4 SLBM with a range of 3,500 km.

Indigenous Nuclear Attack Submarines (SSNs):The first indigenous nuclear attack submarine (SSN) is expected to be ready by 2036-37.

Detailed Explanation:

The Indian Navy’s second nuclear ballistic missile submarine (SSBN), INS Arighaat, successfully fired a Submarine Launched Ballistic Missile (SLBM).

The missile tested was the K4 SLBM with a range of 3,500 km.

Indigenous Nuclear Attack Submarines (SSNs):The first indigenous nuclear attack submarine (SSN) is expected to be ready by 2036-37.

Two SSNs are being designed and built indigenously, with the first one expected by 2036-37 and the second a couple of years later.

Multi-Billion Dollar Defense Deals:26 Rafale-M fighter jets and 3 additional Scorpene-class conventional submarines are under negotiation with France.

The Rafale-M deal is expected to go to the Cabinet Committee on Security (CCS) for clearance soon, and the contracts may be signed by next month.

The deal for the three Scorpene submarines is a repeat order to Mazagon Dock Shipbuilders Limited (MDL), in partnership with Naval Group of France.

27) Answer: C

Short Explanation:

The Competition Commission of India (CCI) has initiated a detailed investigation against Google LLC and its
affiliates for alleged abuse of dominant position in the real money gaming (RMG) ecosystem.

Allegations:Winzo alleged that Google’s 2022 pilot program on the Play Store exclusively allowed Daily Fantasy Sports (DFS) and Rummy apps, sidelining other RMG apps.

Detailed Explanation:

The Competition Commission of India (CCI) has initiated a detailed investigation against Google LLC and its affiliates for alleged abuse of dominant position in the real money gaming (RMG) ecosystem.

Complaint by Winzo Games:The investigation was prompted by a complaint from Winzo Games Private Limited, accusing Google of discriminatory practices that disadvantage other gaming app developers.

Allegations:Winzo alleged that Google’s 2022 pilot program on the Play Store exclusively allowed Daily Fantasy Sports (DFS) and Rummy apps, sidelining other RMG apps.

Google’s actions allegedly created unfair competition, provided undue advantages to select competitors, and hindered the growth of other RMG platforms.

28) Answer: A

Short Explanation:

India’s Paralympic champion, Kumar Nitesh, has been nominated for the prestigious Men’s Para-Badminton Player of the Year award by the Badminton World Federation (BWF).

Detailed Explanation:

India’s Paralympic champion, Kumar Nitesh, has been nominated for the prestigious Men’s Para-Badminton Player of the Year award by the Badminton World Federation (BWF).

This recognition comes after his remarkable achievement of winning a gold medal in the SL3 category at the Paris Paralympics.

Category: Men’s Para-Badminton Player of the Year

Nitesh’s Achievements:

Paris Paralympics: Gold medalist in the SL3 category.

World Championships: Two-time silver medalist and one-time bronze medalist.

29) Answer: D

Short Explanation:

Indian Navy Day 2024 is observed on the 4th of December 2024.

The Indian Navy Day 2024 theme set for this year is “Strength and Power through Innovation and Indigenisation.”

The Indian Navy was established by the East India Company in 1612.

Detailed Explanation:

Indian Navy Day 2024 is observed on the 4th of December 2024.

The Indian Navy Day 2024 theme set for this year is “Strength and Power through Innovation and Indigenisation.”

The Indian Navy was established by the East India Company in 1612.

Indo-Pakistan took place in 1971.

During the war, Pakistan launched an attack on December 3 on Indian air bases. In response to their offensive attacks, the Indian Navy planned an attack on the night of December 4 & 5, as Pakistan didn’t have the aircraft to carry out bombings.

30) Answer: D

About Madhya Pradesh :

Governor : Mangubhai C. Patel

Chief Minister : Mohan Yadav

Capital : Bhopal

National Park : Satpura National Park, Kanha National Park, Bandhavgarh National Park

Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

This post was last modified on December 5, 2024 3:52 pm

2 weeks ago

Daily Current Affairs Quiz – 04th December 2024

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