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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 06th July 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) According to interim business reports from the Bank of Maharashtra (BoM) and UCO Bank for the first quarter of FY25, public sector banks (PSBs) appear to have begun the year well, with healthy lending growth. What percentage year-on-year rise in gross advances did UCO Bank report for Q1 FY25?
(a) 17.68%
(b) 17.58%
(c) 17.48%
(d) 17.78%
(e) 17.88%
2) As per July 2024 report, the Ministry of Finance has announced a 7.1% interest rate for the Special Deposit Scheme (SDS) in July–September 2024. When was SDS introduced?
(a) 1974
(b) 1975
(c) 1976
(d) 1978
(e) 1979
3) The State Bank of India (SBI) announced 11 new initiatives on its 69th foundation day, including improving its digital banking features and establishing how many new Agricultural Centralized Processing Cells to reduce risks in its portfolio of agricultural loans?
(a) 32
(b) 33
(c) 34
(d) 35
(e) 37
4) In July 2024, which non-banking financial corporation (NBFC) under Housing financial officially changed its name to ‘Sammaan Capital Limited’?
(a) HDFC
(b) Indiabulls
(c) Grihum
(d) ICICI
(e) Religare
5) Which Indian bank will be the first to engage with RXIL to provide end-to-end supplier financing based on platform data for credit evaluation and sanctioning limits?
(a) Axis bank
(b) IDBI bank
(c) YES bank
(d) DBS bank
(e) KVB bank
6) According to the study, the National Bank for Agriculture and Rural Development and Online PSB Loans would integrate which schemes across 43 regional rural banks?
(a) Jan Suraksha Yojana
(b) PM Mudra Yojna
(c) Atal Pension Yojna
(d) Jan Arogya Yojana
(e) Vishvakarma Yojana
7) The Ministry of New and Renewable Energy has issued scheme instructions for the deployment of Green Hydrogen under the SIGHT Scheme. What is the overall budgeted outlay for implementing the plan through FY26?
(a) Rs.100crore
(b) Rs.200crore
(c) Rs.300crore
(d) Rs.400crore
(e) Rs.500crore
8) A framework to support climate-resilient agriculture in 50,000 villages across 310 districts (27 states) that have previously been classified as climateally sensitive is about to be unveiled by the Union government. Which state was the highest in terms of the total number of districts?
(a) Rajasthan
(b) Odisha
(c) Uttar Pradesh
(d) Sikkim
(e) Bihar
9) In order to support and benefit millions of farmers nationwide, the government has unveiled a draft national policy on Farmer Producer Organizations (FPOs), which outlines several initiatives. Which cooperative organization does the three-tier model they proposes resemble?
(a) Nandini
(b) Amul
(c) IFFCO
(d) Milky Mist
(e) Aavin
10) In July 2024, To support the MSME sector, ASSOCHAM announces which of the following state would host the MSME Sammelan: MSME Vision for Viksit Bharat 2024?
(a) Rajasthan
(b) Odisha
(c) Uttar Pradesh
(d) Sikkim
(e) Bihar
11) The Department for Promotion of Industry and Internal Trade (DPIIT) has suggested eliminating the controversial angel tax for businesses in anticipation of the Union Budget. Which year’s Union Budget recognized the first introduction of the angel tax?
(a) 2014
(b) 2016
(c) 2012
(d) 2018
(e) 2015
12) In the Green View Complex in Gurugram, the National Buildings Construction Corporation Limited (NBCC) is requesting permission to demolish unsafe towers. Which year did the Green View project begin, and possession was awarded in 2017?
(a) 2010
(b) 2016
(c) 2012
(d) 2018
(e) 2015
13) What percentage of Kerala’s government employees are from the two largest Hindu communities, the Ezhavas and Nairs?
(a) 41%
(b) 43%
(c) 45%
(d) 47%
(e) 49%
14) From the Index of Eight Core sectors (ICI) with the base year 2011–12, published by the Ministry of Commerce & Industries, which sector has demonstrated the highest growth rate of 10.2% (provisional) among the eight core sectors for May 2024?
(a) Electricity
(b) Crude oil
(c) Coal
(d) Steel
(e) Natural gas
15) As per the report, China imports of electric cars are subject to temporary tariffs by the European Union, which can reach up to 38%. Which nation supports tariffs in light of China’s fast-growing market share of electric vehicles in the EU, along with Italy?
(a) Canada
(b) Sweden
(c) Hungary
(d) France
(e) Germany
16) The Producer Price Index (PPI), which might ultimately replace the Wholesale Price Index (WPI), is almost ready to be launched by DPIIT. PPI is often favoured over WPI because it is conceptually consistent with the globally accepted SNA. What does “A” mean in SNA?
(a) Agreement
(b) Analytic
(c) Adverse
(d) Accounts
(e) Action
17) Which state High Court has appointed Justice Sanjeev Sachdeva to the position of Acting Chief Justice, replacing Justice Sheel Nagu?
(a) Rajasthan
(b) Odisha
(c) Uttar Pradesh
(d) Haryana
(e) Madhya Pradesh
18) In July 2024, Dhirendra K Ojha, Indian Information Service Officer, has been appointed as the government’s new principal spokesperson. Whom does Ojha succeed?
(a) Y K Baweja
(b) Sheyphali B Sharan
(c) Wayne Eyre
(d) BR Sarangi
(e) Justin Trudeau
19) In July 2024, Lieutenant-General Jennie Carignan becomes Canada’s first female chief of staff when she is appointed to the position. According to official figures, what percentage of Canadian military personnel are women?
(a) 16%
(b) 12%
(c) 14%
(d) 18%
(e) 15%
20) Which insurance firm uses a private placement offer to increase its stake in IDFC First Bank to 2.68% at ₹80.63/share?
(a) HDFC
(b) SBI
(c) LIC
(d) Bajaj Allianz
(e) Aditya Birla Sun
21) The Aditya-L1 spacecraft, India’s first solar mission, has successfully finished its maiden halo orbit around the Sun-Earth L1 point. Joseph-Louis Lagrange, an Italian-French mathematician, is honored with the moniker Lagrange Points. How many Lagrange points are there?
(a) 4
(b) 5
(c) 6
(d) 3
(e) 2
22) Every year on _____________, World Zoonoses Day is observed to mark the anniversary of the first zoonotic disease vaccination, which was administered back in 1885.
(a) July 4
(b) July 5
(c) July 6
(d) July 1
(e) July 3
23) Which nation’s 42-year-old former world champion in the high jump, Jacques Freitag, was discovered dead from gunshot wounds?
(a) Australia
(b) South Africa
(c) New Zealand
(d) Serbia
(e) Norway
24) The Maastricht Treaty, which went into effect on November 1, 1993, established the European Union as an international entity. How many nations are members of the EU?
(a) 25
(b) 26
(c) 27
(d) 28
(e) 29
25) Which bank’s tagline was “Live more, Bank less”?
(a) IDFC First bank
(b) IDBI bank
(c) YES bank
(d) DBS bank
(e) KVB bank
Answers :
1) Answer: D
Short Explanation:
Public sector banks (PSBs) seem to have started FY25 on a strong note, clocking robust credit growth, going by provisional business updates of Bank of Maharashtra (BoM) and UCO Bank for the first quarter of FY25.
UCO Bank
Credit Growth:Reported a robust 17.78% year-on-year growth in gross advances for Q1 FY25.
Bank of Maharashtra
Credit Growth:Reported a strong 19.01% year-on-year growth in gross advances in Q1 FY25.
Detailed Explanation:
Public sector banks (PSBs) seem to have started FY25 on a strong note, clocking robust credit growth, going by provisional business updates of Bank of Maharashtra (BoM) and UCO Bank for the first quarter of FY25.
Bank of Maharashtra
Credit Growth:Reported a strong 19.01% year-on-year growth in gross advances in Q1 FY25.
Gross loans stood at ₹2,09,065 crore as of June-end 2024, up from ₹1,75,676 crore in June-end 2023.
UCO Bank
Credit Growth:Reported a robust 17.78% year-on-year growth in gross advances for Q1 FY25.
Deposit Growth:Total deposits grew by 7.39% year-on-year, reaching ₹2.68 lakh crore by June-end 2024, compared to ₹2.50 lakh crore in June-end 2023.
2) Answer: B
Short Explanation:
The Ministry of Finance (MoF) has announced that deposits made under the Special Deposit Scheme (SDS) for non-government provident, superannuation and gratuity funds would earn 7.1% interest from July 1 to September 30, 2024.
SDS is a scheme where non-government provident funds, like those managed by the Employees’ Provident Fund Organisation (EPFO), invest their funds.
Introduction:Launched in 1975 by the Government of India.
Detailed Explanation:
The Ministry of Finance (MoF) has announced that deposits made under the Special Deposit Scheme (SDS) for non-government provident, superannuation and gratuity funds would earn 7.1% interest from July 1 to September 30, 2024.
The rates remain unchanged from the April-June quarter.
The interest rate on SDS significantly influences the Employee Provident Fund (EPF) interest rate declaration since nearly 80% of the EPF corpus is invested in SDS.
What is SDS? :
SDS is a scheme where non-government provident funds, like those managed by the Employees’ Provident Fund Organisation (EPFO), invest their funds.
Introduction:Launched in 1975 by the Government of India.
Purpose:Designed to provide a secure and stable investment avenue for provident funds, especially those managed by both public and private sector employers.
3) Answer: D
Short Explanation:
The country’s largest lender State Bank of India (SBI) announced 11 new initiatives including enhancement of its digital banking features and opening of 35 new Agricultural Centralised Processing Cells to mitigate risks in its agricultural loan portfolio.
On the occasion of the 69th Foundation Day (1st July 2024), SBI announced these initiatives to widen the bank’s accessibility to address the banking needs of its potential customers
Detailed Explanation:
The country’s largest lender State Bank of India (SBI) announced 11 new initiatives including enhancement of its digital banking features and opening of 35 new Agricultural Centralised Processing Cells to mitigate risks in its agricultural loan portfolio.
On the occasion of the 69th Foundation Day (1st July 2024), SBI announced these initiatives to widen the bank’s accessibility to address the banking needs of its potential customers
Digital Banking Enhancements:
BHIM SBI PAY App:Introduction of tap-and-pay feature.
YONO App:End-to-end digital loans against mutual funds.
SBI Surya Ghar Loan:
Fully digital end-to-end journey for loans under the PM Surya Ghar Scheme.
Loans available for installing solar rooftops up to 10 KW capacity.
Global NRI Centre (GNC):
Opening of the second GNC in Patiala, Punjab.
Specialised services for NRI customers.
High Court Branches:
Comprehensive redesign to enhance services for the legal community.
Home Loan Transparency:
Automated email and SMS notifications for home loan applicants.
Updates on loan application status at various processing stages.
Initiative focuses on enhancing customer satisfaction and convenience.
4) Answer: B
Short Explanation:
Non-banking finance company (NBFC) Indiabulls Housing Finance has officially changed its name to ‘Sammaan Capital Limited’, following the receipt for Certificate of Incorporation issued by the Registrar of Companies (RoC), and Certificate of Registration (CoR) as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India (RBI).
Detailed Explanation:
Non-banking finance company (NBFC) Indiabulls Housing Finance has officially changed its name to ‘Sammaan Capital Limited’, following the receipt for Certificate of Incorporation issued by the Registrar of Companies (RoC), and Certificate of Registration (CoR) as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India (RBI).
The company had announced its plans to rebrand the company on May 22, 2023 and January 25, 2024.
Legal Alteration : The company informed that Clause I [that is Name Clause] of the Memorandum of Association of the Company stands altered accordingly and the name ‘Indiabulls Housing Finance Limited’ wherever it appears in the Memorandum of Association and the Articles of Association, gets replaced with the new name ‘Sammaan Capital Limited’.
5) Answer: D
Short Explanation:
DBS Bank India has partnered with Receivables Exchange of India Limited (RXIL), a Trade Receivables Discounting System (TReDS) platform, to offer a pre-shipment financing solution.
TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.
DBS Bank India will be the first bank to partner with RXIL to offer end-to-end supplier financing using platform data for credit assessment and sanctioning limits.
Detailed Explanation:
DBS Bank India has partnered with Receivables Exchange of India Limited (RXIL), a Trade Receivables Discounting System (TReDS) platform, to offer a pre-shipment financing solution.
TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.
Significant Milestone: The first transaction on TReDS in India occurred on January 9, 2017, through RXIL.
Empowerment of MSMEs:Simplified Process: Transparent and streamlined process for securing funding against purchase orders.
Cash Flow Management: Helps MSMEs streamline cash flows by securing funding in advance.
Export Contribution: MSMEs contributed 45.56% of total exports from April-September 2023 (as per the Ministry of External Affairs report).
Innovative Financing: DBS Bank India will be the first bank to partner with RXIL to offer end-to-end supplier financing using platform data for credit assessment and sanctioning limits.
Managing Director & CEO of RXIL : Ketan Gaikwad
6) Answer: A
Short Explanation:
National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Limited. have signed a Memorandum of Understanding (MoU) to smoothen the enrolment and claim settlement processes under the Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs).
Initiative by: Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India (GoI).
Function: Facilitates digital enrolment and claim settlements for PMJJBY and PMSBY schemes.
Detailed Explanation:
National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Limited. have signed a Memorandum of Understanding (MoU) to smoothen the enrolment and claim settlement processes under the Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs).
Objective: To democratise access to financial protection schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) in remote areas of the country.
Integration with Jan Suraksha Portal:NABARD’s Role: NABARD will integrate all 43 RRBs onto the Jan Suraksha Portal.
Technology Use: The integration will connect the Jan Suraksha Portal with the Core Banking Solutions (CBS) of RRBs via Application Programming Interfaces (APIs), ensuring a hassle-free experience for banks and customers.
Initiative by: Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India (GoI).
Function: Facilitates digital enrolment and claim settlements for PMJJBY and PMSBY schemes.
7) Answer: B
Short Explanation:
The Ministry of New and Renewable Energy (MNRE) notified the Scheme Guidelines for the “Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme – Component II: Incentive Scheme for Green Hydrogen Production (under Mode 1)- Tranche-II”.
The scheme will be implemented with a total budgetary outlay of ₹200 crore till FY26.
Detailed Explanation:
The Ministry of New and Renewable Energy (MNRE) notified the Scheme Guidelines for the “Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme – Component II: Incentive Scheme for Green Hydrogen Production (under Mode 1)- Tranche-II”.
The scheme will be implemented with a total budgetary outlay of ₹200 crore till FY26.
The National Institute of Solar Energy (NISE) will be the Scheme Implementation Agency (SIA).
Key Details of Tranche-II:
Capacity: 450,000 TPA of Green Hydrogen.
Pathway Allocation:
40,000 TPA reserved for biomass-based pathways (Bucket-II).
Remainder for technology agnostic pathways (Bucket-I).
Implementing Agency: Solar Energy Corporation of India (SECI).
Request for Selection (RfS): To be issued by SECI soon.
About National Green Hydrogen Mission:
Launch Date: 4th January 2023.
Outlay: Rs. 19,744 crores up to FY 2029-30.
8) Answer: C
Short Explanation:
The Union government is set to unveil a framework to promote climate-resilient agriculture in 50,000 villages located in climatically-vulnerable districts.
Selection of Villages:
Officials will select the 50,000 villages from 310 districts already identified as climatically vulnerable.
These districts are spread across 27 states, with Uttar Pradesh having the most (48 districts), followed by Rajasthan (27 districts).
Detailed Explanation:
The Union government is set to unveil a framework to promote climate-resilient agriculture in 50,000 villages located in climatically-vulnerable districts.
Selection of Villages:
Officials will select the 50,000 villages from 310 districts already identified as climatically vulnerable.
These districts are spread across 27 states, with Uttar Pradesh having the most (48 districts), followed by Rajasthan (27 districts).
National Programme:
This initiative is part of a broader national programme on climate-resilient agriculture.
Climate-Resilient Crop Varieties:
The ministry aims to promote climate-resilient crop varieties in the selected villages.
The Indian Council of Agricultural Research (ICAR) has developed over 2,000 such crop varieties.
9) Answer: B
Short Explanation:
The government has introduced a draft national policy on Farmer Producer Organisations (FPOs), outlining several measures to aid and benefit millions of farmers across the country.
Three-Tier Model: Proposal of an Amul-like three-tier structure for FPOs.
Detailed Explanation:
The government has introduced a draft national policy on Farmer Producer Organisations (FPOs), outlining several measures to aid and benefit millions of farmers across the country.
Policy Focus: National policy on Farmer Producer Organisations (FPOs)
Key Measures:
Institutional Loans: Introduction of easier lending norms for banks to support FPOs.
Three-Tier Model: Proposal of an Amul-like three-tier structure for FPOs.
Talent Incentives: Scheme to incentivize hiring talent in FPOs.
Agribusiness Marketplaces: Encouragement for FPOs to establish marketplaces acting as deemed ‘mandis.’
Objective: To provide financial support, improve management, and enhance market access for farmers through FPOs.
10) Answer: C
Short Explanation:
The Associated Chambers of Commerce and Industry of India (ASSOCHAM), India’s premier chamber for commerce and industry, is pleased to announce the Uttar Pradesh MSME Sammelan: MSME Vision for Viksit Bharat, in Lucknow, Uttar Pradesh.
Detailed Explanation:
The Associated Chambers of Commerce and Industry of India (ASSOCHAM), India’s premier chamber for commerce and industry, is pleased to announce the Uttar Pradesh MSME Sammelan: MSME Vision for Viksit Bharat, in Lucknow, Uttar Pradesh.
Organizer: Associated Chambers of Commerce and Industry of India (ASSOCHAM)
Event Name: Uttar Pradesh MSME Sammelan: MSME Vision for Viksit Bharat
Dates: 26 and 27 June 2024
Location: Lucknow, Uttar Pradesh
Objectives:
Promotion: Promote MSMEs and relevant policies.
Engagement: Facilitate interaction between MSMEs and a wide spectrum of experts from various sectors.
Focus Areas: Development of MSMEs, policy promotion, industry engagement, export promotion, and financial support.
11) Answer: C
Short Explanation:
With the Union Budget expected, the Department for Promotion of Industry and Internal Trade (DPIIT) has proposed the removal of the contentious angel tax for startups.
Historical Context: Introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, 1961
Detailed Explanation:
With the Union Budget expected, the Department for Promotion of Industry and Internal Trade (DPIIT) has proposed the removal of the contentious angel tax for startups.
Agency Involved: Department for Promotion of Industry and Internal Trade (DPIIT)
Proposal: Removal of the contentious angel tax for startups
Decision Authority: Finance Ministry (final decision)
Tax Details:
Angel Tax Definition: Tax on capital raised exceeding fair market value (FMV) by unlisted companies
Tax Rate: Above 30%
Historical Context: Introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, 1961
2019 Exemption Guidelines: G.S.R 127(E) guidelines issued for exemptions
Application Data: Only 10,939 startups applied for exemption out of 1.14 lakh registered startups
Industry Perspective: Criticized by prominent industry figures for impacting the startup ecosystem
12) Answer: A
Short Explanation:
The National Buildings Construction Corporation Limited (NBCC) has requested permission from the Gurugram district administration to demolish seven towers at the Green View condominium complex in Sector 37 D, following their declaration as “unsafe for habitation.”
Project Timeline:
Launch: 2010
Possession: 2017
Detailed Explanation:
The National Buildings Construction Corporation Limited (NBCC) has requested permission from the Gurugram district administration to demolish seven towers at the Green View condominium complex in Sector 37 D, following their declaration as “unsafe for habitation.”
Agency Involved: National Buildings Construction Corporation Limited (NBCC)
Action Requested: Permission to demolish seven unsafe towers
Location: Green View condominium complex, Sector 37 D, Gurugram
Safety Concerns:
Audit Reports: Conducted by IIT Roorkee and Central Building Research Institute
District Order: February 17, 2022, citing imminent danger
Correspondence: Letter sent to Gurugram Deputy Commissioner on June 25, 2024
Project Timeline:
Launch: 2010
Possession: 2017
Project Details:
Apartments: 784 in seven towers, plus 139 EWS flats
Sales: 255 flats sold out of 784
13) Answer: A
Short Explanation:
Ezhavas and Nairs, the two major Hindu communities in Kerala, account for about 41% of the government employees in the state.
The caste data on employment, prepared by the Kerala State Commission for Backward Classes, reveal that 1,15,075 Ezhava and 1,08,012 Nair community members are employed in government service.
Detailed Explanation:
Ezhavas and Nairs, the two major Hindu communities in Kerala, account for about 41% of the government employees in the state.
The caste data on employment, prepared by the Kerala State Commission for Backward Classes, reveal that 1,15,075 Ezhava and 1,08,012 Nair community members are employed in government service.
Muslim and Christian Representation:Muslims and Christians have 73,774 and 73,713 employees in government service, respectively.
Other Community Representations:Latin Catholics/Latin Christians: 22,542 employees.
Brahmin/Namboothiri, Potty/Tamil Brahmin: 7,112 employees.
Total Government Employees:The total number of government employees in Kerala is 5,45,413.
14) Answer: C
Short Explanation:
The coal sector has shown the highest growth rate of 10.2% (provisional), following the electricity industry among the eight core industries for May 2024, as per the Index of Eight Core Industries (ICI) with the base year 2011-12, released by the Ministry of Commerce & Industries.
Detailed Explanation:
The coal sector has shown the highest growth rate of 10.2% (provisional), following the electricity industry among the eight core industries for May 2024, as per the Index of Eight Core Industries (ICI) with the base year 2011-12, released by the Ministry of Commerce & Industries.
The coal industry’s index reached 184.7 points in May 2024, up from 167.6 points in the same month the previous year.
The cumulative index rose by 8.9% from April to May 2024-25 compared to the corresponding period last year.
Coal Sector Performance
Growth Rate: 10.2% (provisional) in May 2024.
Index Value: 184.7 points in May 2024, up from 167.6 points in May 2023.
Cumulative Growth: 8.9% increase from April to May 2024-25 over the previous year.
15) Answer: D
Short Explanation:
The European Union has imposed provisional duties up to 38% on Chinese electric car imports.
This move is in response to what the EU considers “unfair” state subsidies by China.
Supporters: France and Italy favor tariffs due to the rapid increase in market share of Chinese EVs in the EU.
Opponents: Sweden and Germany are cautious, and Hungary is against the tariffs.
Detailed Explanation:
The European Union has imposed provisional duties up to 38% on Chinese electric car imports.
This move is in response to what the EU considers “unfair” state subsidies by China.
Reason for Tariffs:
An EU investigation found that Chinese state subsidies for electric vehicle (EV) manufacturers undercut European competitors unfairly.
The EU aims to protect its EV industry during its transition from thermal to electric power.
European Divide:
Supporters: France and Italy favor tariffs due to the rapid increase in market share of Chinese EVs in the EU.
Opponents: Sweden and Germany are cautious, and Hungary is against the tariffs.
International Context:
The United States has already raised tariffs on Chinese EVs to 100%.
Canada is considering similar measures.
16) Answer: D
Short Explanation:
The Department for Promotion of Industry and Internal Trade (DPIIT) is nearing the finalization of a model to launch a Producer Price Index (PPI) in India, which may eventually replace the Wholesale Price Index (WPI).
International Standards: PPI is conceptually in line with the internationally agreed System of National Accounts (SNA), making it a preferred measure over WPI in most countries.
Detailed Explanation:
The Department for Promotion of Industry and Internal Trade (DPIIT) is nearing the finalization of a model to launch a Producer Price Index (PPI) in India, which may eventually replace the Wholesale Price Index (WPI).
Measurement Focus: PPI measures wholesale prices from the perspective of producers of goods and services.
Tracking Prices: It tracks prices at different stages of production.
International Standards: PPI is conceptually in line with the internationally agreed System of National Accounts (SNA), making it a preferred measure over WPI in most countries.
Transition from WPI to PPI
Historical Context: The government has been working for over two decades to determine the methodology for constructing a PPI suitable for the Indian context.
Challenge: The biggest challenge has been finalizing a model that improves upon the existing WPI.
Current Status: Despite efforts, WPI remains the most widely followed measure of inflation due to its long history.
Role of WPI and CPI
Inflation Measure: WPI is used as one of the deflators, along with the Consumer Price Index (CPI), to calculate real GDP from nominal GDP.
17) Answer: E
Short Explanation:
The President of India, in exercise of the powers conferred by the Constitution of India, appointed Shri Sheel Nagu, Judge of the High Court of Madhya Pradesh as the Chief Justice of the High Court of Punjab and Haryana with effect from the date he assumed charge of his office.
Justice Sanjeev Sachdeva has been appointed as the new Acting Chief Justice of the Madhya Pradesh High Court, succeeding Justice Sheel Nagu.
Detailed Explanation:
The President of India, in exercise of the powers conferred by the Constitution of India, appointed Shri Sheel Nagu, Judge of the High Court of Madhya Pradesh as the Chief Justice of the High Court of Punjab and Haryana with effect from the date he assumed charge of his office.
Justice Sanjeev Sachdeva has been appointed as the new Acting Chief Justice of the Madhya Pradesh High Court, succeeding Justice Sheel Nagu.
This is the second high-profile judicial appointment cleared by the Centre within two days, after a prolonged pending period of over six months.
The prior appointment was of Justice BR Sarangi as the Chief Justice of the Jharkhand High Court on July 3, 2024.
18) Answer: B
Short Explanation:
Dhirendra K Ojha, a senior Indian Information Service (IIS) officer of the 1990 batch, has been appointed as the principal spokesperson of the central government.
Ojha succeeds Sheyphali B Sharan, also a 1990-batch IIS officer, who was appointed as the Director General of the Publications Division.
Detailed Explanation:
Dhirendra K Ojha, a senior Indian Information Service (IIS) officer of the 1990 batch, has been appointed as the principal spokesperson of the central government.
He will also assume the role of Principal Director General (DG) of the Press Information Bureau (PIB).
Ojha succeeds Sheyphali B Sharan, also a 1990-batch IIS officer, who was appointed as the Director General of the Publications Division.
With Ojha’s new role as Principal Spokesperson and Principal DG, PIB, the position of Director General at the CBC will now be taken over by Y K Baweja, who is currently the PIB Director General.
19) Answer: A
Short Explanation:
The Canadian government has appointed Lieutenant-General Jennie Carignan chief of the defence staff – the highest position in the country’s armed forces.
She will be the first woman to hold the post.
Carignan was promoted to the rank of General and officially assumed office on July 18,2024 succeeding General Wayne Eyre.
Representation: Women constitute 16% of the Canadian military, according to government data.
Detailed Explanation:
The Canadian government has appointed Lieutenant-General Jennie Carignan chief of the defence staff – the highest position in the country’s armed forces.
She will be the first woman to hold the post.
Carignan was promoted to the rank of General and officially assumed office on July 18,2024 succeeding General Wayne Eyre.
Representation: Women constitute 16% of the Canadian military, according to government data.
About Jennie Carignan :
Military Career: Joined the armed forces in 1986; became the first woman to lead a combat arms unit in 2008.
Notable Assignments:
Led North Atlantic Treaty Organization (NATO) Mission Iraq (2019-2020) aimed at enhancing Iraq’s security forces.
Served in Afghanistan, Bosnia-Herzegovina, and Syria.
Awards: Received the Meritorious Service Medal and the Governor General’s Order of Military Merit.
20) Answer: C
Short Explanation:
The Life Insurance Corporation of India (LIC) shareholding in IDFC First Bank increased after the insurer acquired 18,60,34,900 shares at ₹80.63 apiece in a private placement offer by the lender.
The shareholding increased from 0.20% of the pre-issue paid-up capital to 2.68% of the post-issue paid-up capital.
LIC received the highest allocation of shares in this private placement.
Detailed Explanation:
The Life Insurance Corporation of India (LIC) shareholding in IDFC First Bank increased after the insurer acquired 18,60,34,900 shares at ₹80.63 apiece in a private placement offer by the lender.
The shareholding increased from 0.20% of the pre-issue paid-up capital to 2.68% of the post-issue paid-up capital.
LIC received the highest allocation of shares in this private placement.
Other Insurers’ Allocations:
HDFC Life Insurance Company: 8,06,15,200 shares.
Aditya Birla Sun Life Insurance Company: 6,20,11,600 shares.
Bajaj Allianz Life Insurance Company: 3,10,05,900 shares.
ICICI Lombard General Insurance Company: 3,10,05,800 shares.
SBI General Insurance Company Limited: 62,01,200 shares.
21) Answer: B
Short Explanation:
Indian Space Research Organisation (ISRO) stated its station-keeping (SK) manoeuvre ensured its seamless transition into the second halo orbit.
Sun-Earth L1 is the point where the gravitational pull of two large bodies — Sun and Earth, will be equal and hence the spacecraft will not gravitate towards any one of them.
Lagrange Points are named in honour of Italian-French mathematician Joseph-Louis Lagrange.
Of the 5 Lagrange points, 3 are unstable and 2 are stable.
Detailed Explanation:
Indian Space Research Organisation (ISRO) stated its station-keeping (SK) manoeuvre ensured its seamless transition into the second halo orbit.
Sun-Earth L1 is the point where the gravitational pull of two large bodies — Sun and Earth, will be equal and hence the spacecraft will not gravitate towards any one of them.
The Aditya-L1 mission, which is an Indian solar observatory at Lagrangian point L1, was launched on September 2, 2023 and was inserted in its targeted halo orbit on January 6, 2024.
Aditya-L1, dedicated to the study of the Sun, carries 7 payloads.
Orbital Characteristics : According to ISRO, the Aditya-L1 spacecraft in the halo orbit takes 178 days to complete a revolution around the L1 point.
The orbit of Aditya-L1 spacecraft is a periodic halo orbit which is located roughly 1.5 million km from Earth on the continuously moving Sun–Earth line with an orbital period of about 177.86 earth days.
About Lagrange Points :
Lagrange Points are named in honour of Italian-French mathematician Joseph-Louis Lagrange.
Of the 5 Lagrange points, 3 are unstable and 2 are stable.
The unstable Lagrange points – labelled L1, L2, and L3 – lie along the line connecting the two large masses.
The stable Lagrange points – labelled L4 and L5 – form the apex of two equilateral triangles that have the large masses at their vertices.
22) Answer: C
Short Explanation:
Every year on July 6th, World Zoonoses Day is commemorated as the anniversary of the first-ever vaccine given for any zoonotic disease way back in 1885.
Detailed Explanation:
Every year on July 6th, World Zoonoses Day is commemorated as the anniversary of the first-ever vaccine given for any zoonotic disease way back in 1885.
In 2300 B.C., Rabies was first recorded and the Mosaic Esmuna Code of Babylon showed the first written account of rabies causing death in humans and dogs.
On this day on 6th July 1885, a French biologist named Louise Pasteur who is also very known for his theory of pasteurization successfully administered the first-ever vaccination given for a zoonotic disease to a man named Joseph Meister who was bitten by a dog with rabies.
23) Answer: B
Short Explanation:
South African former high jump world champion Jacques Freitag found dead with gunshot wounds in South Africa at the age of 42.
Birth: Born on 11 June 1982 in Warrenton, Cape Province, South Africa.
2003: Won gold in the high jump at the World Championships in Paris.
Detailed Explanation:
South African former high jump world champion Jacques Freitag found dead with gunshot wounds in South Africa at the age of 42.
Birth: Born on 11 June 1982 in Warrenton, Cape Province, South Africa.
One of only ten athletes to win world championships at youth, junior, and senior levels.
2003: Won gold in the high jump at the World Championships in Paris.
Four-time South African high jump champion.
Holds the South African National Record with a jump of 2.38m set in 2005.
24) Answer: C
About European Union :
The EU is an international organization created by the Maastricht Treaty, which came into force on 1 November 1993.
Headquarters: Brussels, Belgium.
Members: 27 countries.
The European Council sets the political agenda of the EU and meets twice a year.
25) Answer: D
About DBS Bank India:
Established: 1994
Headquarters: Mumbai, Maharashtra, India
MD & CEO: Surojit Shome
Tagline: “Live more, Bank less”
