Daily Current Affairs Quiz – 05th December 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 05th 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), the Bank of India (BoI) intends to issue infrastructure bonds in order to raise an additional Rs 5,000 crore. Who has been named by Bank of India as its Global Brand Ambassador for a three-year term, enhancing its association with the brand?

(a) MS Dhoni

(b) Sachin Tendulkar

(d) Virat Kohli

(e) Hardik Pandya

2) When comparing the first seven months of FY25 to the same period in FY24, which credit card type had an almost twofold increase in transactions handled through the Unified Payments Interface (UPI)?

(a) Visa

(b) Mastercard

(d) Rupay

(e) Maestro

3) In which state did the Reserve Bank of India (RBI) fine the Panchkula Central Co-operative Bank Limited ₹5.00 lakh?

(a) Sikkim

(b) Haryana

(d) Jharkhand

(e) Odisha

4) In Q2 of FY 2024–25, the All-India House Price Index (HPI) grew by what percentage annually, as opposed to 3.3% in the previous quarter and 3.5% in the same quarter the year earlier?

(a) 4.1%

(b) 4.2%

(d) 4.4%

(e) 4.5%

5) The Reserve Bank of India (RBI) is being pressed by the Warehousing Development and Regulatory Authority (WDRA) to provide Electronic Negotiable Warehouse Receipts (eNWRs) priority consideration. To encourage their use in financing agricultural commodities, the RBI raised the PSL limit for eNWRs from ₹50 lakh to how many lakh?

(a) ₹75 lakh

(b) ₹55 lakh

(d) ₹85 lakh

(e) ₹50 lakh

6) The Indian Institute of Banking & Finance and Sa-Dhan are partnering to develop a certification program for professionals in microfinance. Where was the Indian Institute of Banking & Finance’s headquarters located?

(a) New Delhi

(b) Maharashtra

(d) West Bengal

(e) Karnataka

7) The microfinance industry in India has grown to a value of Rs. __________ lakh crore, and women make up 99% of the 8.67 crore active borrowers.

(a) Rs 4.53 lakh crore

(b) Rs 4.33 lakh crore

(d) Rs 4.83 lakh crore

(e) Rs 4.43 lakh crore

8) Which insurance provider reported a theft of customer data and opened an inquiry to determine the possible consequences?

(a) HDFC Life Insurance

(b) Canara HSBC Insurance

(d) Max Life Insurance

(e) TATA AIA Life Insurance

9) On December 4, 2024, the Directorate of Revenue Intelligence (DRI) will mark its _______ Foundation Day in New Delhi.

(a) 63rd

(b) 68th

(d) 66th

(e) 67th

10) The Rajya Sabha has approved the 2024 Oilfields (Regulation and Development) Amendment Bill. How many years will India need oil and gas to meet its energy needs?

(a) 15

(b) 20

(d) 12

(e) 25

11) Every year, 1.45 crore people register for the PM Surya Ghar Muft Bijli Yojana. Which state leads the nation in installations?

(a) Gujarat

(b) Maharashtra

(d) West Bengal

(e) Karnataka

12) On December 3, 2024, the Lok Sabha gave its approval to the Banking Laws (Amendment) Bill, 2024. How many amendments to banking legislation are proposed by the bill?

(a) 15

(b) 17

(d) 19

(e) 21

13) Recently(Dec’24), the United States (US) President-elect Donald Trump has threatened to impose what percentage tariffs on a group of nine nations if they attempt to create a currency rivaling the US dollar?

(a) 25%

(b) 50%

(d) 90%

(e) 100%

14) The Supreme Court of India has appointed Justice Manmohan, the Chief Justice of the _____ High Court, as a judge, with effect from the day he takes office.

(a) Gujarat

(b) Maharashtra

(d) Delhi

(e) Karnataka

15) Which company has named financial market veteran Vijay Chandok as its new Managing Director (MD) and Chief Executive Officer (CEO)?

(a) NABARD

(b) SIDBI

(d) IRDAI

(e) PFDRA

16) How many capital acquisition bids totaling ₹21,772 crores were approved by the Defence Acquisition Council (DAC), which is chaired by Raksha Mantri Shri Rajnath Singh, to improve India’s defense readiness?

(a) 4

(b) 5

(d) 3

(e) 7

17) Under its Foreign Military Sales program, the United States (US) has authorized a potential $1.17 billion agreement to supply India support equipment for _____________ multi-role helicopters.

(a) MH-60R

(b) MH-60S

(d) MH-60K

(e) MH-60D

18) The IMO Bravery Award for 2024 is presented to tanker and tugboat crews. In addition, how many passengers and crew members were rescued from the Esther Miracle (March 2023)?

(a) 120

(b) 150

(d) 180

(e) 200

19) Which organization has won the renowned CII-EXIM Bank Award for Business Excellence for the second consecutive year?

(a) BEL

(b) GRSE

(d) HAL

(e) CSL

20) As per report, the President of India Presents National Awards To ______ Outstanding People And Organizations For Empowering People With Disabilities

(a) 31

(b) 33

(d) 37

(e) 39

21) How many points was the Memorandum of Understanding (MoU) signed by Chinese President Xi Jinping and Nepal’s Prime Minister K P Sharma Oli during their meeting in Beijing to strengthen bilateral cooperation in a number of areas, such as technical aid and trade promotion?

(a) 5

(b) 7

(d) 10

(e) 8

22) How many prestigious Indian Institutes of Technology (IITs) has South Korea’s Hyundai Motor Group formed a strategic relationship with to build a strong research framework in electrification and battery technology?

(a) 2

(b) 3

(d) 5

(e) 6

23) Every year on _______________, we commemorate World Wildlife Conservation Day to raise awareness about protecting the planet’s endangered wildlife and plants.

(a) December 1

(b) December 2

(d) December 4

(e) December 5

24) When was the World Soil day observed on?

(a) December 1

(b) December 2

(d) December 4

(e) December 5

25) Recently(Dec’24), Davis Cup legend Neale Fraser from Australia passed away. _______ Grand Slam titles were won by Fraser.

(a) 15

(b) 17

(d) 19

(e) 21

26) Recently(Dec’24), Brig Raj Manchanda, the ‘Old Fox’ of Indian squash passed away. Where was he born?

(a) Odisha

(b) Haryana

(d) Punjab

(e) Gujarat

27) The Competition Commission of India (CCI) has authorized KDT Venture Holdings, LLC’s acquisition of an interest in Shiprocket Private Limited. KDT is an early-stage venture capital business based in what country?

(a) USA

(b) UK

(d) Australia

(e) Greece

28) The Competition Commission of India has approved the Platinum Stone A 2014 Trust’s subscription to GMR Infra Enterprises Private Limited’s Optionally Convertible Debentures. GMR Airports Limited (GAL) currently operates how many airports in India?

(a) 2

(b) 3

(d) 5

(e) 6

29) In Which bank does Rajneesh Karnatak serve as MD and CEO currently?

(a) Bank of India

(b) Bank of Baroda

(d) Indian Overseas bank

(e) Punjab & Sind bank

30) In order to process a specific credit or debit transaction, payment processing companies charge businesses a fee known as an MDR. In MDR, what does “D” stand for?

(a) Dealer

(b) Debit

(d) Demand

(e) Digital

Answers :

1) Answer: B

Short Explanation:

Bank of India (BoI) plans to raise an additional Rs 5,000 crore through the issuance of infrastructure bonds.

Bank of India has appointed cricket icon Sachin Tendulkar as its Global Brand Ambassador under a three-year deal, strengthening its brand association, similar to SBI’s appointment of MS Dhoni in 2023.

Detailed Explanation:

Bank of India (BoI) plans to raise an additional Rs 5,000 crore through the issuance of infrastructure bonds.

The bond issuance is in line with the current soft interest rate trends.

Previous Infrastructure Bond Issuances:In November 2024, BoI raised Rs 5,000 crore through a 10-year infrastructure bond with a coupon rate of 7.41%.

In total, BoI has raised Rs 10,000 crore in two tranches of infrastructure bonds.

Infrastructure bonds are exempt from regulatory reserve requirements such as the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR), making them particularly attractive for banks.

Other public sector banks such as State Bank of India (SBI), Bank of Baroda (BoB), Canara Bank, Bank of Maharashtra, and Indian Bank have also raised significant amounts through infrastructure bonds this year.

2) Answer: D

Short Explanation:

Transactions processed through Unified Payments Interface (UPI) on RuPay credit cards nearly doubled in the first seven months of FY25 compared to the same period in FY24.

In FY25, over 750 million transactions worth ₹63,825.8 crore were processed through UPI on RuPay credit cards.

Detailed Explanation:

Transactions processed through Unified Payments Interface (UPI) on RuPay credit cards nearly doubled in the first seven months of FY25 compared to the same period in FY24.

In FY25, over 750 million transactions worth ₹63,825.8 crore were processed through UPI on RuPay credit cards.

Historical Data and Comparison:In FY24, UPI RuPay credit card transactions amounted to 362.8 million transactions worth ₹33,439.24 crore.

The cumulative value of transactions in FY25 has nearly doubled compared to the same period in FY24, indicating significant growth.

RuPay Credit Card Launch:RuPay is India’s indigenous payment network, launched in 2012 by the National Payments Corporation of India (NPCI).

RuPay credit cards were introduced in June 2017.

3) Answer: B

Short Explanation:

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹5.00 lakh on The Panchkula Central Co-operative Bank Limited., Haryana.

Violation of Banking Regulations:The penalty was for the contravention of provisions under Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).

Detailed Explanation:

The Reserve Bank of India (RBI) imposed a monetary penalty of ₹5.00 lakh on The Panchkula Central Co-operative Bank Limited., Haryana.

Violation of Banking Regulations:The penalty was for the contravention of provisions under Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).

The RBI exercised its powers under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act to impose the penalty.

The National Bank for Agriculture and Rural Development (NABARD) conducted the statutory inspection of the bank, examining its financial position as of March 31, 2023.

After considering the bank’s reply and oral submissions made during the personal hearing, the RBI sustained the charge of failure to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund (DEAF) within the prescribed time.

4) Answer: C

Short Explanation:

The All-India House Price Index (HPI) increased by 4.3% annually in Q2 of FY 2024-25, compared to 3.3% in the previous quarter and 3.5% in the same quarter of the previous year.

Detailed Explanation:

The All-India House Price Index (HPI) increased by 4.3% annually in Q2 of FY 2024-25, compared to 3.3% in the previous quarter and 3.5% in the same quarter of the previous year.

RBI’s Quarterly HPI Release:The RBI released its HPI for the September quarter of 2024-25 based on transaction-level data received from registration authorities in 10 major cities.

Cities Covered:The cities included in the RBI’s HPI are: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, Mumbai.

HPI Growth Variance:The annual growth in HPI varied significantly across cities:

Bengaluru recorded the highest growth at 8.8%.

Kanpur saw a decline of -2%.

Sequential (Quarter-on-Quarter) Change:On a quarter-on-quarter basis, the All-India HPI decreased by 0.1% in the July-September period.

Cities with Sequential Price Rise:Ahmedabad, Lucknow, Kolkata, and Chennai saw a sequential rise in house prices during Q2 FY 2024-25.

5) Answer: A

Short Explanation:

The Warehousing Development and Regulatory Authority (WDRA) is pursuing the Reserve Bank of India (RBI) for preferential treatment for Electronic Negotiable Warehouse Receipts (eNWRs).

The RBI has enhanced the PSL limit for eNWRs from ₹50 lakh to ₹75 lakh, promoting their use in the financing of agricultural commodities.

The Negotiable Warehouse Receipt (NWR) system was launched in 2011, allowing the transfer of ownership of commodities stored in warehouses without the need for physical delivery.

Detailed Explanation:

The Warehousing Development and Regulatory Authority (WDRA) is pursuing the Reserve Bank of India (RBI) for preferential treatment for Electronic Negotiable Warehouse Receipts (eNWRs).

eNWR is a digital warehousing receipt issued by registered warehouses regulated by WDRA.

Purpose of eNWR:eNWR serves as a three-in-one instrument for financing, trading, and settlement of commodities stored in warehouses.

WDRA has approached RBI multiple times to make eNWR mandatory for pledge financing or, at the very least, to provide preferential treatment for loans based on eNWRs.

The RBI has enhanced the PSL limit for eNWRs from ₹50 lakh to ₹75 lakh, promoting their use in the financing of agricultural commodities.

The Negotiable Warehouse Receipt (NWR) system was launched in 2011, allowing the transfer of ownership of commodities stored in warehouses without the need for physical delivery.

6) Answer: B

Short Explanation:

Sa-Dhan, a Reserve Bank of India (RBI)- recognised Self-Regulatory Organization (SRO) for microfinance and impact finance institutions, has partnered with the Indian Institute of Banking & Finance (IIBF), country’s premier institute for administering various courses in the banking sector, to launch a new certification course for microfinance professionals.

About Indian Institute of Banking & Finance :

Founded : 1928

Headquarters : Mumbai, Maharashtra

CEO : Shri. Biswa Ketan Das

Detailed Explanation:

Objective of the Course: The course aims to train new employees of microfinance institutions and offer career opportunities for those interested in joining the microfinance industry.

The course has been developed jointly with Sa-Dhan, the largest and oldest association and an SRO for microfinance institutions.

Executive Director and CEO of Sa-Dhan : Mr Jiji Mammen

About Indian Institute of Banking & Finance :

Founded : 1928

Headquarters : Mumbai, Maharashtra

CEO : Shri. Biswa Ketan Das

7) Answer: E

Short Explanation:

India’s microfinance sector has reached Rs 4.43 lakh crore, with 99% of the 8.67 crore active borrowers being women.

Women Borrowers: 8.59 crore women borrowers, with an average loan amount of Rs 37,445.

Detailed Explanation:

India’s microfinance sector has reached Rs 4.43 lakh crore, with 99% of the 8.67 crore active borrowers being women.

Women Borrowers: 8.59 crore women borrowers, with an average loan amount of Rs 37,445.

Of these loans, 94% are used for income-generating activities, highlighting the critical role of women in financial inclusion and economic transformation.

Rural Women’s Contribution: Women in rural India account for 77% of the borrowers, showcasing their significant impact on the sector’s growth.

State-wise Distribution: Bihar leads with 15% of the microfinance industry’s loan portfolio, followed by Tamil Nadu, Uttar Pradesh, Karnataka, and West Bengal.

8) Answer: A

Short Explanation:

HDFC Life Insurance Company reported a customer data theft and initiated an investigation to assess the potential impact.

A detailed investigation is being conducted with the help of information security experts after the company received communication from an unknown source regarding the data theft.

Detailed Explanation:

HDFC Life Insurance Company reported a customer data theft and initiated an investigation to assess the potential impact.

A detailed investigation is being conducted with the help of information security experts after the company received communication from an unknown source regarding the data theft.

The data theft incident occurred following a statement from the Insurance Regulatory and Development Authority of India (IRDAI), which addressed reports of data leaks from two insurers, including Star Health and Allied Insurance.

Star Health had previously notified the stock exchanges about receiving emails from an unidentified person claiming unauthorized access to certain claims data on August 14.

9) Answer: E

Short Explanation:

The Directorate of Revenue Intelligence (DRI) celebrate its 67th Foundation Day on 4th December 2024 in New Delhi.

Detailed Explanation:

The Directorate of Revenue Intelligence (DRI) celebrate its 67th Foundation Day on 4th December 2024 in New Delhi.

Release of Smuggling in India Report 2023-24:

Highlights DRI’s performance and experiences over the last financial year.

Focuses on trends in anti-smuggling and commercial fraud detection.

Bilateral and Multilateral Customs Cooperation:

DRI has been instrumental in fostering cooperation through Customs Mutual Assistance Agreements (CMAA).

Emphasis on information sharing and adopting best practices to prevent and investigate customs offenses.

10) Answer: B

Short Explanation:

Rajya Sabha Passes Oilfields (Regulation and Development) Amendment Bill, 2024

India requires oil and gas for the next 20 years to meet energy needs.

Detailed Explanation:

Rajya Sabha Passes Oilfields (Regulation and Development) Amendment Bill, 2024

Purpose:

Amend the existing law governing the exploration and production of oil and gas.

Delink petroleum operations from mining operations to attract investment.

Provisions Introduced:

Decriminalisation of certain offences from the 1948 Act.

Inclusion of penalties and adjudication by an adjudicating authority with an appellate mechanism.

Introduction of petroleum leases.

Expansion of mineral oil definition to include:

Crude oil, natural gas, petroleum, condensate.

Coal bed methane, oil shale, shale gas, shale oil.

Tight gas, tight oil, gas hydrate.

Sector Dynamics:

High investment and long gestation periods characterize the oil and gas sector.

India requires oil and gas for the next 20 years to meet energy needs.

11) Answer: A

Short Explanation:

Objective: Achieve 1 crore rooftop solar installations in the residential sector by FY27.

Budget Allocation: Rs 75,021 crore.

Top States for Installations:

Gujarat: 2,86,545 installations.

Maharashtra: 1,26,344 installations.

Uttar Pradesh: 53,423 installations.

Detailed Explanation:

Objective: Achieve 1 crore rooftop solar installations in the residential sector by FY27.

Budget Allocation: Rs 75,021 crore.

Registrations:

Total of 1.45 crore registrations on the National Portal.

Applications Received:

26.38 lakh applications submitted.

Installations Completed:

6.34 lakh rooftop solar installations achieved.

Subsidy released to 3.66 lakh applicants.

Subsidy processing time: 15–21 days, as confirmed by Union Minister Shripad Naik.

Top States for Installations:

Gujarat: 2,86,545 installations.

Maharashtra: 1,26,344 installations.

Uttar Pradesh: 53,423 installations.

12) Answer: D

Short Explanation:

The Lok Sabha approved the Banking Laws (Amendment) Bill, 2024, on Dec 3, 2024.

It was tabled in the House by Union Finance Minister Nirmala Sitharaman.

The Bill proposes 19 amendments to banking laws, including the Reserve Bank of India Act, Banking Regulation (BR) Act, and Banking Companies (Acquisition and Transfer of Undertakings) Act.

Detailed Explanation:

The Lok Sabha approved the Banking Laws (Amendment) Bill, 2024, on Dec 3, 2024.

It was tabled in the House by Union Finance Minister Nirmala Sitharaman.

The Bill proposes 19 amendments to banking laws, including the Reserve Bank of India Act, Banking Regulation (BR) Act, and Banking Companies (Acquisition and Transfer of Undertakings) Act.

Nomination:

Allows up to four nominees for deposits, safe custody, and safety lockers.

Introduces successive nominations to ensure continuity and reduce disputes.

Reporting Timeline:

Shifts statutory reporting to the RBI from “reporting Friday” to the last day of the fortnight, month, or quarter.

Deadlines:

Reports for the 15th of a month due by the 20th.

Reports for the month-end due by the 5th of the following month.

Unclaimed Deposits and Assets:

Streamlines the settlement mechanism for unclaimed deposits (currently Rs 78,000 crore).

Aligns practices of PSBs with private banks for transferring unclaimed shares, interest, and bond redemption amounts to the Investor Education and Protection Fund (IEPF).

13) Answer: E

Short Explanation:

United States (US) President-elect Donald Trump warned of imposing 100% tariffs on a group of nine nations if they attempt to create a currency rivalling the US dollar.

BRICS Bloc’s Role in Financial Reshaping:The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, is actively working to reshape the global financial order and reduce reliance on the US dollar.

Detailed Explanation:

United States (US) President-elect Donald Trump warned of imposing 100% tariffs on a group of nine nations if they attempt to create a currency rivalling the US dollar.

BRICS aims to create a financial system distinct from the Bretton Woods institutions (International Monetary Fund (IMF) and World Bank).

Trade in National Currencies:BRICS countries are increasing trade in their national currencies to reduce dependence on the US dollar in international transactions.

New Development Bank (NDB):The NDB, established by BRICS in 2014, supports infrastructure and development projects in member countries, serving as an alternative to Western financial institutions.

Contingent Reserve Arrangement (CRA):The Contingent Reserve Arrangement (CRA) is a financial safety net designed by BRICS to provide financial assistance to countries in crisis, serving as an alternative to the IMF.

14) Answer: D

Short Explanation:

Justice Manmohan, the Chief Justice of the Delhi High Court, has been appointed as a Judge of the Supreme Court of India, effective from the date he assumes charge of his office.

Detailed Explanation:

Justice Manmohan, the Chief Justice of the Delhi High Court, has been appointed as a Judge of the Supreme Court of India, effective from the date he assumes charge of his office.

The appointment was made under Article 124(2) of the Constitution of India, which empowers the President to appoint Supreme Court judges.

Justice Vibhu Bakhru, the senior-most puisne judge of the Delhi High Court, has been appointed as the Acting Chief Justice of the Delhi High Court following Justice Manmohan’s elevation.

15) Answer: C

Short Explanation:

Vijay Chandok, a financial market veteran, has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) of NSDL (National Securities Depository Limited.).

Detailed Explanation:

Vijay Chandok, a financial market veteran, has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) of NSDL (National Securities Depository Limited.).

Before joining NSDL, he served as the MD and CEO of ICICI Securities. He held key roles at the ICICI Group, including being an executive director on the board of ICICI Bank.

NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India.

Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.

It is India’s first securities depository to reach Rs 500 lakh crore (USD 6 trillion) in value of assets held in custody in September 2024.

16) Answer: B

Short Explanation:

On December 3, 2024, the Defence Acquisition Council (DAC), chaired by Raksha Mantri Shri Rajnath Singh, approved 5 capital acquisition proposals worth ₹21,772 Crores to enhance India’s defence preparedness.

Detailed Explanation:

Procurement of 31 New Water Jet Fast Attack Crafts (NWJFACs): These crafts will be used by the Indian Navy for Low-Intensity Maritime Operations, surveillance, patrol, search and rescue (SAR) operations, and anti-piracy missions, particularly in island territories.

Procurement of 120 Fast Interceptor Crafts (FIC-1): These vessels will be used for multiple roles, including the protection of high-value units like aircraft carriers, destroyers, frigates, and submarines, for coastal defence operations.

Electronic Warfare Suite (EWS) for Su-30 MKI Aircraft: The approval includes the procurement of systems to enhance the operational capabilities of Su-30 MKI aircraft by protecting them from enemy radars and air defence systems during missions.

Overhaul of Tanks and Aircraft:DAC approved the overhaul of T-72 and T-90 tanks, BMP, and Sukhoi fighter aircraft engines, enhancing their service life and operational readiness.

17) Answer: A

Short Explanation:

The United States (US) has approved a possible $1.17 billion deal to sell India support equipment for MH-60R multi-role helicopters under its Foreign Military Sales programme.

Detailed Explanation:

The United States (US) has approved a possible $1.17 billion deal to sell India support equipment for MH-60R multi-role helicopters under its Foreign Military Sales programme.

The deal enhances India’s defense capabilities, particularly in maritime and anti-submarine warfare, which is crucial for its national security.

MH-60R Helicopters: India had contracted 24 MH-60R helicopters from Lockheed Martin under a $2.2 billion deal in February 2020.

9 helicopters have been inducted into India’s armed forces so far.

Requested Equipment: India has requested the purchase of 30 Multifunctional Information Distribution System-Joint Tactical Radio Systems (MIDS-JTRS) as part of this deal.

18) Answer: B

Short Explanation:

Presented to:

Captain Avhilash Rawat and the crew of oil tanker Marlin Luanda.

Captain Jorge Fernando Galaviz Fuentes and the crew of tugboat Pemex Maya.

Occasion: Annual IMO Awards Ceremony on 2 December 2024 in London.

Certificates of Commendation

Awarded to individuals involved in the rescue of 150 passengers and crew from the Esther Miracle (March 2023).

Detailed Explanation:

Presented to:

Captain Avhilash Rawat and the crew of oil tanker Marlin Luanda.

Captain Jorge Fernando Galaviz Fuentes and the crew of tugboat Pemex Maya.

Occasion: Annual IMO Awards Ceremony on 2 December 2024 in London.

Ceremony Context: Held after the first day of the Maritime Safety Committee (MSC 109) session (2–6 December 2024).

Captain Avhilash Rawat and Crew of Marlin Luanda

Event: Fire caused by an uncrewed aerial device attack (26 January 2024).

Cargo: 84,147 tons of Naphtha (highly flammable).

Actions Taken:

Swiftly organized firefighting efforts amid life-threatening conditions.

Contained the fire using foam and seawater, despite limited resources.

Collaborated with naval ships (INS Visakhapatnam, USS Carney, and others) to extinguish the fire.

Duration: Over 24 hours of continuous efforts.

Outcome: Prevented catastrophic damage and ensured crew safety.

Captain Jorge Fernando Galaviz Fuentes and Crew of Pemex Maya

Event: Hurricane Otis (25 October 2023).

Conditions: Extreme weather with winds exceeding 300 km/h and 5-meter waves.

Actions Taken:

Rescued six shipwrecked individuals from four vessels amid darkness and rough seas.

Conducted complex rescue maneuvers under dangerous conditions.

Outcome: Survivors saved without life-threatening injuries, demonstrating exceptional seamanship.

Additional Recognitions

Certificates of Commendation

Awarded to individuals involved in the rescue of 150 passengers and crew from the Esther Miracle (March 2023).

19) Answer: C

Short Explanation:

Recipient: Bharat Heavy Electricals Limited (BHEL).

Achievement: Won the prestigious CII-EXIM Bank Award for Business Excellence for the second consecutive year.

Recognition Basis:

The award is modeled on the internationally recognized EFQM (European Foundation for Quality Management) excellence framework.

Highlights BHEL’s commitment to resilience, adaptability, and continuous improvement in a dynamic business environment.

Detailed Explanation:

Recipient: Bharat Heavy Electricals Limited (BHEL).

Achievement: Won the prestigious CII-EXIM Bank Award for Business Excellence for the second consecutive year.

Recognition Basis:

The award is modeled on the internationally recognized EFQM (European Foundation for Quality Management) excellence framework.

Highlights BHEL’s commitment to resilience, adaptability, and continuous improvement in a dynamic business environment.

Unit-wise Recognition

Award Winner:

Haridwar Unit: Bagged the top honor.

Platinum Recognition:

Units/Divisions: Bhopal, Hyderabad, Jhansi, Ranipet, and Project Engineering Management (PEM).

Award Ceremony Details

Occasion: 32nd CII Excellence Summit.

Venue: Bengaluru.

Date: 27 November 2024.

Key Representatives:

JP Srivastava, Director (E, R&D).

Teams from Corporate Quality & Business Excellence and the awarded units.

20) Answer: B

Short Explanation:

Event: International Day of Persons with Disabilities 2024.

Venue: New Delhi.

Presided By: President of India, Smt. Droupadi Murmu.

Key Dignitaries:

Dr. Virendra Kumar, Union Minister for Social Justice and Empowerment.

Shri Rajesh Aggarwal, Secretary, Department of Empowerment of Persons with Disabilities (DEPwD).

Awardees:

33 exemplary individuals and institutions were honored for their contributions to empowering persons with disabilities

Detailed Explanation:

Event: International Day of Persons with Disabilities 2024.

Venue: New Delhi.

Presided By: President of India, Smt. Droupadi Murmu.

Key Dignitaries:

Dr. Virendra Kumar, Union Minister for Social Justice and Empowerment.

Shri Rajesh Aggarwal, Secretary, Department of Empowerment of Persons with Disabilities (DEPwD).

Awardees:

33 exemplary individuals and institutions were honored for their contributions to empowering persons with disabilities.

Awardees ranged from young achievers like 13-year-olds Prathamesh and Janhavi to senior citizens like 75-year-old Saroj Arya, reflecting a spectrum of talent.

Praised the courage, determination, and achievements of persons with disabilities.

Highlighted the significance of:

Entrepreneurship and skill development.

Leadership among persons with disabilities.

Celebrated India’s historic success at the 2024 Paris Paralympics, securing 29 medals compared to a single medal in 2012.

21) Answer: C

Short Explanation:

Nepal’s Prime Minister K P Sharma Oli and Chinese President Xi Jinping met in Beijing, where the two nations signed a nine-point Memorandum of Understanding (MoU) to enhance bilateral cooperation across various sectors, including trade promotion and technical assistance.

Detailed Explanation:

Occasion: High-profile diplomatic visit of Nepal’s Prime Minister K P Sharma Oli to China.

Venue: Beijing, China.

Duration: Four days.

Delegation:

PM Oli’s spouse, Radhika Shakya.

Dr. Arzu Rana Deuba, Nepal’s Foreign Minister.

Senior officials, private sector representatives, and media personnel.

Nine-Point Memorandum of Understanding (MoU):

Signed to enhance cooperation in areas such as:

Trade promotion.

Technical assistance.

Infrastructure development under the Belt and Road Initiative (BRI).

Nepal proposed a “No Loan Pact”, ensuring non-debt-driven collaboration on BRI projects.

22) Answer: B

Short Explanation:

South Korea’s Hyundai Motor Group has announced a strategic partnership with three premier Indian Institutes of Technology (IITs) to establish a robust research framework in battery technology and electrification.

Partnership Details

Collaborating Institutes: IIT Delhi, IIT Bombay, and IIT Madras.

Objective: To establish a strong research framework in battery technology and electrification, tailored to India’s needs.

Detailed Explanation:

The initiative aims to develop innovations tailored to the unique requirements of the Indian market.

Partnership Details

Collaborating Institutes: IIT Delhi, IIT Bombay, and IIT Madras.

Objective: To establish a strong research framework in battery technology and electrification, tailored to India’s needs.

Hyundai Center of Excellence (CoE)

Location: IIT Delhi.

Focus Areas:

Electric Vehicle (EV) technology advancements.

Battery development and electrification solutions.

Key Partner: Centre for Automotive Research and Tribology (CART) at IIT Delhi.

Investment Plan

Amount: $7 million over five years (2025–2029).

Research Focus Areas:

Battery technology innovations.

Software development.

Hydrogen fuel cells.

General electrification advancements.

23) Answer: D

Short Explanation:

World Wildlife Conservation Day is observed annually on December 4 to spread awareness about preserving Earth’s endangered Flora and fauna.

Theme for 2024: “Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation”

Detailed Explanation:

World Wildlife Conservation Day is observed annually on December 4 to spread awareness about preserving Earth’s endangered Flora and fauna.

Origin:

Initiated on November 8, 2012, by Hillary Clinton, then US Secretary of State, during “The Wildlife Trafficking and Conservation” event.

The day aims to combat wildlife trafficking, a global issue costing $7–10 billion annually.

Observed on: December 4 annually.

Purpose:

Spread awareness about the benefits of wildlife.

Address the challenges of wildlife trafficking and habitat destruction.

Inspire collective action to protect endangered species.

Theme for 2024: “Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation”

24) Answer: E

Short Explanation:

Observed on:World Soil day on December 5 annually.

Theme for 2024: “Caring for Soils: Measure, Monitor, Manage”

Detailed Explanation:

Observed on:World Soil day on December 5 annually.

Objective: To highlight the vital role of soil in sustaining life and address the challenges of soil degradation.

History:

Initiated by the International Union of Soil Sciences (IUSS) in 2002.

Officially recognized by the United Nations in 2013.

The date honors King Bhumibol Adulyadej of Thailand, a proponent of sustainable soil management, coinciding with his birthday.

Theme for 2024: “Caring for Soils: Measure, Monitor, Manage”

Encourages sustainable practices to:

Measure: Assess soil quality.

Monitor: Track soil health changes.

Manage: Adopt techniques to restore and preserve soil.

25) Answer: D

Short Explanation:

Neale Fraser, who won three Grand Slam singles titles and guided Australia to four Davis Cup titles during a 24-year career as team captain, has passed away at the age of 91.

Neale Fraser born on 3 October 1933 in Melbourne, Victoria, Australia.

Grand Slam Achievements: Fraser won 19 Grand Slam titles.

Detailed Explanation:

Neale Fraser, who won three Grand Slam singles titles and guided Australia to four Davis Cup titles during a 24-year career as team captain, has passed away at the age of 91.

Neale Fraser born on 3 October 1933 in Melbourne, Victoria, Australia.

Fraser won the 1960 Wimbledon title, defeating Australian tennis great Rod Laver.

He was an iconic figure in Australian tennis, widely regarded for his contributions to both the sport and the Davis Cup.

His rivalry with Rod Laver, a fellow Australian tennis great, was notable, with Laver paying tribute to Fraser after his passing.

Grand Slam Achievements: Fraser won 19 Grand Slam titles.

26) Answer: D

Short Explanation:

Brig Raj Manchanda, the `Old Fox’ of Indian squash, passed away in Delhi at the age of 80.

Manchanda born on 5th August 1945 in Abohar, Punjab, Manchanda became one of India’s most celebrated squash players.

He was cremated with Military Honours at Brar Square, Delhi.

He was a six-time National Squash Champion, winning every title from 1977 to 1982.

Detailed Explanation:

Brig Raj Manchanda, the `Old Fox’ of Indian squash, passed away in Delhi at the age of 80.

Manchanda born on 5th August 1945 in Abohar, Punjab, Manchanda became one of India’s most celebrated squash players.

He was cremated with Military Honours at Brar Square, Delhi.

He was a six-time National Squash Champion, winning every title from 1977 to 1982.

International Achievements:Manchanda won a silver medal in the 1981 Asian Team Squash Championships and a bronze medal in the 1984 Asian Team Squash Championships.

He also achieved 4th place at the 1984 Asian Championships in Jordan.

He competed against Jahangir Khan, a future World Open champion, at the Asian Individual Squash Championships in the 1980s.

He became a consultant at Exhibition Industries in Delhi.

Two squash courts at the National Defence Academy (NDA) and Indian Military Academy (IMA) have been named after him, reflecting his lasting impact on Indian squash.

27) Answer: A

Short Explanation:

The Competition Commission of India (CCI) has approved the acquisition of a shareholding in Shiprocket Private Limited by KDT Venture Holdings, LLC.

KDT is an early-stage venture capital firm based in the United States.

Detailed Explanation:

The Competition Commission of India (CCI) has approved the acquisition of a shareholding in Shiprocket Private Limited by KDT Venture Holdings, LLC.

Details of the Proposed Combination:The proposed combination involves KDT Venture Holdings, LLC (Acquirer) acquiring a shareholding in Shiprocket Private Limited (Target).

KDT is an early-stage venture capital firm based in the United States.

It invests in startups across multiple geographies, including the US, Israel, and the United Kingdom.

Focus sectors include:Healthcare, Supply chain and manufacturing, Cybersecurity, Semiconductors, Connectivity, Fintech, Enterprise software,Energy transformation.

KDT is a wholly owned subsidiary of Koch, Inc.

28) Answer: B

Short Explanation:

The Competition Commission of India has approved the subscription to optionally convertible debentures (OCDs) of GMR Infra Enterprises Private Limited by Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC Limited).

GAL currently operates three airports in India: Delhi International Airport, GMR Hyderabad International Airport, and GMR Goa International Airport.

Detailed Explanation:

Acquirer: Platinum Stone A 2014 Trust (through trustee Platinum Rock B 2014 RSC Limited), a trust established in Abu Dhabi with the Abu Dhabi Investment Authority as the sole beneficiary.

Target: GMR Infra Enterprises Private Limited (SPV) which will acquire shares in GMR Airports Limited (GAL) and manage the subscription process.

Business Operations:GMR Airports Limited (GAL) is a public company engaged in the development, management, and operation of airports in India and globally.

GAL currently operates three airports in India: Delhi International Airport, GMR Hyderabad International Airport, and GMR Goa International Airport.

29) Answer: A

About BoI :

Established : 7 September 1906

Headquarters : Mumbai, Maharashtra, India

MD & CEO : Rajneesh Karnatak

30) Answer: C

An Merchant Discount Rate (MDR) is a fee charged by payment processing companies to merchants for processing a particular credit or debit transaction.

This follows a zero MDR policy on UPI transactions linked to users’ savings accounts.

This post was last modified on December 7, 2024 6:28 pm

2 weeks ago

Daily Current Affairs Quiz – 05th December 2024

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