Home » Daily Current Affairs Quiz – 08th June 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 08th June 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) In June 2024, as per the report, the second bi-monthly monetary policy for the fiscal year 2024–25 was revealed by Shaktikanta Das, the governor of the Reserve Bank of India (RBI). For the fiscal year 2024–2025, the RBI kept its inflation prediction at what percentage?

(a) 4.2%

(b) 4.3%

(d) 4.4%

(e) 4.5%

2) The Reserve Bank of India has increased penalties by 88% in the last three years(2021-2024), with Know Your Customer and anti-money laundering violations at the top of the list. Over the course of three years, how much money has the RBI collected in penalties?

(a) Rs 78.6 crore

(b) Rs 74.6 crore

(d) Rs 72.6 crore

(e) Rs 70.6 crore

3) The trusteeship of Asset Reconstruction Companies (ARCs) may be changed by holders of Security Receipts (SR) with permission from the Reserve Bank of India (RBI). How many ARCs are in operation in India at the moment?

(a) 29

(b) 23

(d) 25

(e) 27

4) Which bank has a strategic co-lending partnership with Muthoot Microfin?

(a) Canara bank

(b) Indian bank

(d) Punjab National Bank

(e) Indian Overseas bank

5) The Indian Bankruptcy and Insolvency Board has released updated guidelines for designating insolvency professionals as resolution specialists. To prevent administrative bottlenecks, the panel will be shared with the Debt Recovery Tribunal (DRT) and the National Company Law Tribunal (NCLT). What is the duration of validity for the panel?

(a) 3months

(b) 4months

(d) 12months

(e) 8months

6) In which of the following country has PhonePe partnered with PickMe, a ride-hailing provider, to enable Unified Payments Interface (UPI)-based payments for Indian travellers?

(a) Srilanka

(b) Monaco

(d) Madagascar

(e) Oman

7) In the financial year 2024 (FY24), almost four of every five digital payments made in the nation were made via the Unified Payments Interface (UPI), according to the Reserve Bank of India’s (RBI) annual report. How many online payment aggregators received final approval from the RBI?

(a) 21

(b) 20

(d) 23

(e) 24

8) The Coal and Lignite Public Sector Undertakings (PSUs) have achieved significant progress in land restoration and sustainability, as documented in a study released by the Ministry of Coal. By which year is India expected to reach its 2.5 to 3.0 billion tons carbon sink target under its Nationally Determined Contribution (NDC)?

(a) 2027

(b) 2028

(d) 2035

(e) 2032

9) The Department of Telecommunications has undertaken a survey to understand and resolve issues faced by which firm in adopting new technologies?

(a) MSME

(b) SIDBI

(d) NIIT

(e) SAIL

10) How many times has the outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment plummeted, while its usage in the retail segment increased in the last year(2023)?

(a) 35

(b) 37

(d) 39

(e) 36

11) According to the reports, NSE sets a world record for handling how many crore transactions in a single day?

(a) 1972crore

(b) 1971crore

(d) 1975crore

(e) 1973crore

12) PNB MetLife names Sameer Bansal as its new MD and CEO, succeeding Ashish Srivastava. Bansal joined the organization in which year and is now the Chief Distribution Officer?

(a) 2002

(b) 2001

(d) 2007

(e) 2009

13) Which company has agreed to acquire some assets from Times Internet’s streaming platform, MX Player?

(a) Flipkart

(b) Amazon

(d) Myntra

(e) Snapdeal

14) Oleg Kononenko, a 59-year-old Russian cosmonaut, is the first person to spend how many days in space?

(a) 500

(b) 100

(d) 900

(e) 600

15) With whom, Butch Wil more were the first person to journey to space aboard a Boeing Starliner during its inaugural crewed flight?

(a) Sally Ride

(b) Sunitha Williams

(d) Samantha Cristoline

(e) Susan Helms

16) In June, An agreement is signed by the Ministry of Defense and the Ministry of Health and Family Welfare to establish a special Tele MANAS cell for the military. There are 51 Tele MANAS cells that are currently operating in all 36 States and UTs, providing services in how many different languages?

(a) 25

(b) 21

(d) 23

(e) 22

17) On World Environment Day, the Mumbai Municipal Corporation (BMC) released its first Climate Budget Report for 2024-25. BMC became the first municipal corporation in India and _________ internationally.

(a) 3rd

(b) 2nd

(d) 5th

(e) 6th

18) As per the report, Seagram’s Royal Stag renews its partnership with the ICC as an official supporter until which year?

(a) 2025

(b) 2026

(d) 2028

(e) 2030

19) Which firm co-founder announced the release of his memoir Source Code: My Beginnings, which will be available on February 4, 2025?

(a) Microsoft

(b) Amazon

(d) Alphabets

(e) Apple

20) The United Nations General Assembly declared World Ocean Day in 2008, to be marked annually on which date?

(a) June 7

(b) June 8

(d) June 10

(e) June 6

Answers :

1) Answer: E

Short Explanation:

The Reserve Bank of India (RBI) Governor, Shaktikanta Das, announced the second bi-monthly monetary policy for the financial year 2024-25.
This marks the first RBI policy announcement after the Lok Sabha election results of 2024.
The RBI Governor-headed 6-member Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 6.5% for the 8th consecutive time by a 4:2 majority.
The RBI retained its inflation forecast for the financial year 2024-25 at 4.5%

Detailed Explanation:

The Reserve Bank of India (RBI) Governor, Shaktikanta Das, announced the second bi-monthly monetary policy for the financial year 2024-25.
This marks the first RBI policy announcement after the Lok Sabha election results of 2024.
The RBI Governor-headed 6-member Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 6.5% for the 8th consecutive time by a 4:2 majority.
The repo rate, which is the rate at which the RBI lends to commercial banks to address shortfalls in funds, is a key tool used by the central bank to manage liquidity in the economy.
The RBI revised its GDP growth forecast for the financial year 2024-25, raising it to 7.2% from the previous estimate of 7%.
The RBI retained its inflation forecast for the financial year 2024-25 at 4.5%
GDP Growth Forecast: The RBI has raised its GDP growth forecast for the financial year 2024-25 to 7.2%, with quarterly projections as follows: Q1 – 7.3%, Q2 – 7.2%, Q3 – 7.3%, and Q4 – 7.2%.
CPI Inflation Estimates: CPI inflation estimates for FY25 have been retained at 4.5%. Detailed quarterly inflation forecasts are as follows: Q1 – 4.9%, Q2 – 3.8%, Q3 – 4.6%, and Q4 – 4.5%.
Review of Bulk Deposit Limits: Reviewing the limit of bulk deposits for Scheduled Commercial Banks, Small Finance Banks, and Local Area Banks.
Rationalization of Export and Import Regulations: Rationalizing export and import regulations under the Foreign Exchange Management Act
Establishment of Digital Payments Intelligence Platform: Setting up a Digital Payments Intelligence Platform to harness advanced technologies to mitigate payment fraud risk
Inclusion of Recurring Payments: Including recurring payments for Fastag, National Common Mobility Card (NCMC),, with auto-replenishment facility under the e-mandate framework.
Auto-Replenishment of UPI Lite Wallet: Introducing auto-replenishment of UPI Lite wallet and including it under the e-mandate framework.
Launch of RBI Hackathon HARBINGER 2024: Launching the third edition of RBI Hackathon HARBINGER 2024, focused on innovation for transformation. The next monetary policy announcement on August 8, 2024.

2) Answer: A

Short Explanation:

The Reserve Bank of India (RBI) has increased the number of penalties on financial institutions by 88% over the past 3 years (from 2021 to January 2024).
Know Your Customer (KYC) and Anti-Money Laundering (AML) violations are the most common infractions leading to penalties.
The RBI has collected Rs 78.6 crore in penalties over 3 years, with 261 penalties imposed in 2023 alone, according to Signzy, a fintech firm specializing in regulatory compliance.

Detailed Explanation:

The Reserve Bank of India (RBI) has increased the number of penalties on financial institutions by 88% over the past 3 years (from 2021 to January 2024).
Know Your Customer (KYC) and Anti-Money Laundering (AML) violations are the most common infractions leading to penalties.
The RBI has collected Rs 78.6 crore in penalties over 3 years, with 261 penalties imposed in 2023 alone, according to Signzy, a fintech firm specializing in regulatory compliance.
Regulatory Compliance Importance:KYC and AML regulations require companies to allocate resources effectively to detect potential money laundering activities within their operations.
Co-operative Banks’ Violations:Urban and rural co-operative banks have the highest number of KYC and AML violations, with urban co-operative banks paying Rs 13.5 crore and rural co-operative banks paying Rs 20.13 crore from 2021 to January, 2024.
Rise in Penalties Reasoning:The increase in penalties can be attributed to the RBI’s stricter and more comprehensive auditing, particularly targeting fintechs and non-banking financial companies (NBFCs).
Challenges for Fintechs : Fintechs, being technology-driven, differ from traditional banks as their primary focus is on solving problems through technology.
Consequently, they often lack large risk and compliance teams and the extensive institutional knowledge typical of banks.

3) Answer: E

Short Explanation:

The Reserve Bank of India (RBI) may allow Security Receipts (SR) holders to change the trusteeship of Asset Reconstruction Companies (ARCs).
Security Receipt (SR) is an instrument like a pass through certificate which is issued by ARCs to investors, which represent rights of the investors over realisations from underlying assets.
Banks, non-banking financial companies (NBFCs) and foreign portfolio investors are the holders of SRs issued by ARCs.
Current ARC Operations: There are currently 27 ARCs operating in India, and they have seen significant growth.

Detailed Explanation:

The Reserve Bank of India (RBI) may allow Security Receipts (SR) holders to change the trusteeship of Asset Reconstruction Companies (ARCs).
Security Receipt (SR) is an instrument like a pass through certificate which is issued by ARCs to investors, which represent rights of the investors over realisations from underlying assets.
Banks, non-banking financial companies (NBFCs) and foreign portfolio investors are the holders of SRs issued by ARCs.
Current Trusteeship Role: Under existing guidelines, when an ARC acquires distressed debt, it becomes the trustee of the underlying asset.
Therefore, there cannot currently be a trustee without a debt.
Single Trustee Concept: The idea behind allowing a change in trusteeship is to have a single trustee for pooled distressed debt, which would simplify and streamline the management of distressed assets.
Multiple ARCs Involvement: Often, multiple ARCs acquire distressed debts from a bank, complicating the trusteeship and management of these assets.
Recommendations and Addresses: The Sudarshan Sen Committee in 2021 recommended allowing changes in trusteeship of ARCs.
Additionally, RBI Deputy Governor Rajeshwar Rao highlighted this suggestion in a recent address to ARC representatives.
Current ARC Operations: There are currently 27 ARCs operating in India, and they have seen significant growth.
The book value of bad loans acquired by ARCs increased from ₹6.38 trillion in March 2022 to ₹9.35 trillion at the end of December 2023.
Benefits for Banks and Financial Institutions: Banks and financial institutions favour ARCs because lenders receive some upfront cash, ranging from 15% to 100%, when they sell bad loans to ARCs.
Growth of ARCs: ARCs have experienced robust growth, with increasing amounts of bad loans being managed by these companies, as evidenced by RBI data.

4) Answer: C

Short Explanation:

Muthoot Microfin Limited has entered into a partnership with theState Bank of India (SBI) for co-lending to members of joint liability groups (JLGs) engaged in agricultural and allied activities as well as other income-generating enterprises.
The loan amounts will range from a minimum of ₹10,000 to a maximum of ₹3 lakh, aimed at boosting rural women entrepreneurs.

Detailed Explanation:

Muthoot Microfin Limited has entered into a partnership with State Bank of India (SBI) for co-lending to members of joint liability groups (JLGs) engaged in agricultural and allied activities as well as other income-generating enterprises.
Under the agreement, Muthoot Microfin and SBI will co-lend to members of Joint Liability Groups (JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises.
The loan amounts will range from a minimum of ₹10,000 to a maximum of ₹3 lakh, aimed at boosting rural women entrepreneurs.
With this collaboration, Muthoot Microfin Limited aims to extend its financial services to women entrepreneurs in rural and semi-urban regions across India.
Under the co-lending model, banks are permitted to co-lend with all registered NBFCs (including HFCs) on the basis of a prior agreement.
Co lending is an arrangement where multiple lenders partner to provide loans to borrowers.
This helps increase lending capacity and reduces risk for individual lenders. Each lender sets their own terms and conditions.
Co lending is used in various industries like real estate, small business loans, and personal loans.

5) Answer: C

Short Explanation:

The Insolvency and Bankruptcy Board of India (IBBI) has issued a new set of guidelines to streamline the process for appointing insolvency professionals (IPs) as interim resolution professionals, liquidators, and bankruptcy trustees.
Under the new guidelines, issued on June 5, a panel of IPs will be set up, which will be effective from July 1, 2024, to December 31, 2024.
Aim : To enhance the efficiency and effectiveness of the insolvency resolution process by ensuring a ready pool of qualified professionals available for immediate appointment.
Formation of Panel : The panel will be shared with the National Company Law Tribunal (NCLT) and the Debt Recovery Tribunal (DRT) to avoid administrative delays.
Panel Validity : The panel will have a validity of 6 months.

Detailed Explanation:

The Insolvency and Bankruptcy Board of India (IBBI) has issued a new set of guidelines to streamline the process for appointing insolvency professionals (IPs) as interim resolution professionals, liquidators, and bankruptcy trustees.
Under the new guidelines, issued on June 5, a panel of IPs will be set up, which will be effective from July 1, 2024, to December 31, 2024.
Aim : To enhance the efficiency and effectiveness of the insolvency resolution process by ensuring a ready pool of qualified professionals available for immediate appointment.
Formation of Panel : The panel will be shared with the National Company Law Tribunal (NCLT) and the Debt Recovery Tribunal (DRT) to avoid administrative delays.
Panel Validity : The panel will have a validity of 6 months.
Eligibility Criteria:IPs seeking inclusion in the panel must have no pending disciplinary proceedings or convictions in the last 3 years by a court of competent jurisdiction.
They must hold an authorization for assignment valid until the panel’s validity and submit an expression of interest.
Prior experience in handling assignments under the Insolvency and Bankruptcy Code is required.
Panel Preparation:The IBBI will prepare the panel based on the volume of completed assignments and registration dates of the IPs.
IPs with more experience will be given priority.
Appointment Expectations:IPs are expected to accept appointments without withdrawing consent unless permitted by the NCLT, DRT, or IBBI.
Failure to comply without sufficient justification could result in removal from the panel for 6 months.

6) Answer: A

Short Explanation:

Fintech firm PhonePe has partnered with ride-hailing platform PickMe to facilitate Unified Payments Interface (UPI)-based payments for Indian travellers in Sri Lanka.
Enhancing Convenience for Indian Travellers:The partnership with PickMe reflects PhonePe’s commitment to providing convenient and trusted payment solutions for Indian travellers visiting Sri Lanka.
It eliminates the hassle of navigating payments in a new country by offering the ease and security of UPI payments for rides.

Detailed Explanation:

Fintech firm PhonePe has partnered with ride-hailing platform PickMe to facilitate Unified Payments Interface (UPI)-based payments for Indian travellers in Sri Lanka.
Enhancing Convenience for Indian Travellers:The partnership with PickMe reflects PhonePe’s commitment to providing convenient and trusted payment solutions for Indian travellers visiting Sri Lanka.
It eliminates the hassle of navigating payments in a new country by offering the ease and security of UPI payments for rides.
Support for Digital Transformation:The collaboration aligns with PhonePe’s mission to drive digital transformation in Sri Lanka’s transportation sector by introducing modern payment methods.
High Commissioner’s Encouragement:Indian High Commissioner Santosh Jha encouraged companies in Sri Lanka to engage with Indian firms like PhonePe to leverage the UPI stack for innovations in various sectors, including hotel bookings, cab bookings, and delivery services.
Impact on Indian Travellers:The partnership not only enhances convenience for Indian travellers but also signifies the growing integration of digital payment systems across borders, facilitating seamless transactions for international travellers.
CEO of PhonePe – International Payments : Ritesh Pai

7) Answer: C

Short Explanation:

According to the Reserve Bank of India’s (RBI) annual report, nearly four out of five digital payments in the country were conducted on the Unified Payments Interface (UPI) in the financial year 2024 (FY24).
Growth of UPI:UPI’s share of total digital payments increased from 73.4% in FY23 to 79.7% in FY24.
Online Payment Aggregators : The RBI gave a final nod to 22 online payment aggregators.

Detailed Explanation:

According to the Reserve Bank of India’s (RBI) annual report, nearly four out of five digital payments in the country were conducted on the Unified Payments Interface (UPI) in the financial year 2024 (FY24).
Growth of UPI:UPI’s share of total digital payments increased from 73.4% in FY23 to 79.7% in FY24.
Volume of Digital Transactions:The volume of digital payments in FY24 reached 164.4 billion transactions, a 44% year-on-year increase from 113.9 billion transactions in FY23.
In FY20, the country recorded a total of 34 billion digital UPI transactions.
Impact of Payments Infrastructure Development Fund (PIDF):The report further added that the Payments Infrastructure Development Fund (PIDF) has aided in the growth of digital payments in the last financial year.
Growth in PoS Terminals and QR Codes:The number of PoS terminals increased by 14.3% year-on-year to 8.9 million in FY24.
Bharat QR (BQR) codes increased by 16.1% to 6.2 million, while UPI QR codes increased by 35% to 346 million.
Expansion of UPI Internationally:On taking UPI international, the annual report said that the RBI, along with NPCI International Payments Ltd. (NIPL), will work towards taking UPI to 20 countries with an initiation timeline of 2024-25 and a completion timeline of 2028-29.
Online Payment Aggregators : The RBI gave a final nod to 22 online payment aggregators.

8) Answer: C

Short Explanation:

The Ministry of Coal has unveiled a report detailing the strides made by Coal and Lignite Public Sector Undertakings (PSUs) in land restoration and sustainability.
This greening initiative is set to significantly contribute to the augmentation of India’s green cover, aiding in the fulfilment of India’s Nationally Determined Contribution (NDC) target of achieving a carbon sink of 2.5 to 3.0 billion tonnes by 2030.

Detailed Explanation:

The Ministry of Coal has unveiled a report detailing the strides made by Coal and Lignite Public Sector Undertakings (PSUs) in land restoration and sustainability.
According to a press release by the Ministry of Coal, amidst rising energy demands, these PSUs have ramped up coal production and made notable progress in environmental preservation through comprehensive land reclamation and greening efforts.
This global focus aligns seamlessly with the Ministry of Coal’s newly released report, “Greening Initiative in Coal & Lignite PSUs,” which showcases the ambitious efforts of coal and lignite PSUs in transforming mined-out areas into vibrant green spaces.
These initiatives play a pivotal role in combating desertification, enhancing drought resilience, sequestering carbon, and conserving biodiversity.
The report reveals that they have established green cover over approximately 50,000 hectares in and around coal mining regions.
Collectively, these initiatives are estimated to create a carbon sink potential of approximately 2.5 million tonnes of CO2 equivalent per year.
This greening initiative is set to significantly contribute to the augmentation of India’s green cover, aiding in the fulfilment of India’s Nationally Determined Contribution (NDC) target of achieving a carbon sink of 2.5 to 3.0 billion tonnes by 2030.

9) Answer: A

Short Explanation:

The Department of Telecommunications has launched a comprehensive survey aimed at understanding and resolving the challenges encountered by Micro, Small, and Medium Enterprises (MSMEs) in adopting new technologies.
This initiative seeks to establish a robust ecosystem that harnesses the potential of cutting-edge technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and the integration of 5G and 6G networks.

Detailed Explanation:

The Department of Telecommunications has launched a comprehensive survey aimed at understanding and resolving the challenges encountered by Micro, Small, and Medium Enterprises (MSMEs) in adopting new technologies.

Pioneering Technological Integration

This initiative seeks to establish a robust ecosystem that harnesses the potential of cutting-edge technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and the integration of 5G and 6G networks.

Survey Duration and Coverage

Over 60 days, the survey will cover five sectors each in North and South India. It is designed to unveil sector-specific requirements across a minimum of ten industries.

Policy-Shaping Insights

The insights gleaned from this survey will serve as the bedrock for policy interventions geared towards enhancing the competitive edge and sustainability of MSMEs.
By addressing the technological barriers faced by MSMEs, this initiative aims to propel them towards a future of innovation and resilience in the ever-evolving digital landscape.

10) Answer: D

Short Explanation:

The outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment crashed while its usage in the retail segment climbed 39 times in the past year.
In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, down from ₹10.6 crore last year.
In the retail segment, the amount climbed to ₹234 crore in March 2024, up from ₹6 crore last year.

Detailed Explanation:

The outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment crashed while its usage in the retail segment climbed 39 times in the past year.
In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, down from ₹10.6 crore last year.
In the retail segment, the amount climbed to ₹234 crore in March 2024, up from ₹6 crore last year.
India’s CBDC, the Digital Rupee (e₹), is a digital form of its official currency, introduced after the FY23 budget.
The pilots for CBDC retail and wholesale were introduced in 2022, allowing retail users to make person-to-merchant transactions after scanning UPI QR codes from the CBDC app, making it widely accessible.
The objective for the wholesale segment was to facilitate secondary market transactions in government securities for select banks while reducing transaction costs.
The central bank has been pushing for the use of CBDC by continuously expanding its pilot projects to offer more services and instruments using the e₹.

11) Answer: B

Short Explanation:

The National Stock Exchange of India, the country’s largest stock exchange and the world’s largest derivatives exchange, made history by registering the highest-ever transactions in a single day.
The exchange handled 1,971 crore orders and 28.55 crore trades, marking a significant milestone in its operational history.

Detailed Explanation:

The National Stock Exchange of India, the country’s largest stock exchange and the world’s largest derivatives exchange, made history by registering the highest-ever transactions in a single day.
The exchange handled 1,971 crore orders and 28.55 crore trades, marking a significant milestone in its operational history.
Earlier, NSE Indices Ltd, a subsidiary of NSE, launched India’s first thematic index to track the electric vehicle and new-age automobiles segment, showcasing the exchange’s commitment to innovation and diversification.
National Stock Exchange of India Limited is one of the leading stock exchanges in India, based in Mumbai.
NSE is under the ownership of various financial institutions such as banks and insurance companies.

12) Answer: D

Short Explanation:

PNB MetLife India Insurance has appointed Sameer Bansal as the Managing Director (MD) and Chief Executive Officer (CEO) effective from July 1, 2024, subject to regulatory approvals.
He will succeed Ashish Srivastava, who will become the MD for MetLife Inc.’s Global Shared Services team in India.
Bansal joined the firm in 2007 and is currently serving as the Chief Distribution Officer.

Detailed Explanation:

PNB MetLife India Insurance has appointed Sameer Bansal as the Managing Director (MD) and Chief Executive Officer (CEO) effective from July 1, 2024, subject to regulatory approvals.
He will succeed Ashish Srivastava, who will become the MD for MetLife Inc.’s Global Shared Services team in India.
Bansal has over 25 years of experience in financial services, including extensive and successful experience in leading Distribution through Bancassurance, Agency, Digital, Employee Benefits and Direct marketing business models.
Bansal joined the firm in 2007 and is currently serving as the Chief Distribution Officer.

13) Answer: B

Short Explanation:

E-commerce and technology giant Amazon has signed an agreement to acquire some assets from MX Player, a streaming platform owned by Times Internet.
The deal reportedly values MX Player at less than $100 million.
This is a significant decrease from its $500 million valuation when it last raised $111 million in funding in 2019.
The deal is expected to give a boost to Amazon’s streaming service miniTV.
Launched in May 2021, Amazon miniTV is a free, ad-supported video service, which is a part of Amazon’s shopping app.

Detailed Explanation:

E-commerce and technology giant Amazon has signed an agreement to acquire some assets from MX Player, a streaming platform owned by Times Internet.
The deal reportedly values MX Player at less than $100 million.
This is a significant decrease from its $500 million valuation when it last raised $111 million in funding in 2019.
The deal is expected to give a boost to Amazon’s streaming service miniTV.
Launched in May 2021, Amazon miniTV is a free, ad-supported video service, which is a part of Amazon’s shopping app.
It currently offers a vast selection of fresh, trendy, and immersive entertainment across multiple genres and can also be downloaded as an app from the Play Store.
Amazon also operates a subscription-based streaming service called Prime Video.
It is bundled with its Prime subscription service.
The deal is taking place at a time when this year, India’s top conglomerate Reliance Industries and Walt Disney announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment platform.
The asset purchase of MX Player, which has deep penetration in tier 2 and 3 and beyond, will also help Amazon’s rural push.
Times Internet acquired MX Player for ₹1,000 crore ($140 million) in 2018.
Together, the Reliance-Disney merged entity will have 120 TV channels and two streaming platforms.
The merger is expected to take on competitors such as Amazon’s Prime Video and miniTV, Netflix Inc, and local platforms such as MX Player and Zee Entertainment Ltd’s ZEE5.

14) Answer: C

Short Explanation:

Oleg Kononenko, a 59-year-old Russian cosmonaut, has become the first person to spend 1,000 days in space.
Kononenko achieved this milestone through five journeys to the International Space Station (ISS) starting in2008.
His current trip to the ISS began on September 15, 2023, launching alongside NASA astronaut Loral O’Hara and compatriot Nikolai Chub.

Detailed Explanation:

Oleg Kononenko, a 59-year-old Russian cosmonaut, has become the first person to spend 1,000 days in space.
Kononenko achieved this milestone through five journeys to the International Space Station (ISS) starting from 2008.
His current trip to the ISS began on September 15, 2023, launching alongside NASA astronaut Loral O’Hara and compatriot Nikolai Chub.
Cumulative Space Time Record : In February 2024, Kononenko surpassed the previous total cumulative space time record of 878 days, 11 hours, 29 minutes, and 48 seconds, set by fellow Russian cosmonaut Gennady Padalka in 2015.
Expected Total Orbit Time:If Kononenko’s mission concludes as scheduled on September 23, 2024, he will have spent a total of 1,110 days in orbit.
International Cooperation:Despite geopolitical tensions, the International Space Station remains a key area of cooperation between the United States and Russia.
This cooperation continues following Russia’s invasion of Ukraine in February 2022.
Roscosmos-NASA Collaboration:Roscosmos, the Russian space agency, announced in December an extension of its cross-flight program with NASA, which transports astronauts to the ISS, until 2025.

15) Answer: B

Short Explanation:

Sunita Williams and Butch Wilmore became the first people to fly to space in a Boeing Starliner during its first-ever crewed flight.
Indian-Origin NASA astronaut Sunita Williams made history by being the first female pilot of a newly developed human-rated spaceship.
On June 5, 2024, the crew was launched from Space Launch Complex-41 at the Cape Canaveral Space Force Station in Florida to board the Atlas V rocket of United Launch Alliance.

Detailed Explanation:

Sunita Williams and Butch Wilmore became the first people to fly to space in a Boeing Starliner during its first-ever crewed flight.
Indian-Origin NASA astronaut Sunita Williams made history by being the first female pilot of a newly developed human-rated spaceship.
On June 5, 2024, the crew was launched from Space Launch Complex-41 at the Cape Canaveral Space Force Station in Florida to board the Atlas V rocket of United Launch Alliance.
The goal of the Starliner mission is to transport goods and crew to low Earth orbit and beyond for upcoming NASA missions.
The maiden flight with humans was initially scheduled for May 7 but was postponed due to a helium leak and a problem with ULA’s ground power supply.
This is the 3rd try, and 90% of the weather was ideal for the launch.
Sunita Williams served as the pilot, and Butch Wilmore was the commander of the flight.
The two will spend almost a week at the International Space Station before riding the reusable crew spacecraft back to Earth.

16) Answer: C

Short Explanation:

A memorandum of understanding (MoU) was signed between the Ministry of Health and Family Welfare (MoHFW) and the Ministry of Defence (MoD) to collaborate on operating a special cell of Tele MANAS, the National Telemental Health Helpline, as a pilot project for two years at the Armed Forces Medical College in Pune.
The initiative provides a toll-free number, 14416, in each State and Union Territory (UT) for easy access to mental health support.
Currently, 51 operational Tele MANAS cells are functioning across all 36 States and UTs, offering services in 20 different languages.

Detailed Explanation:

A memorandum of understanding (MoU) was signed between the Ministry of Health and Family Welfare (MoHFW) and the Ministry of Defence (MoD) to collaborate on operating a special cell of Tele MANAS, the National Telemental Health Helpline, as a pilot project for two years at the Armed Forces Medical College in Pune.
The special Tele-MANAS Cell was inaugurated on December 1, 2023, at the Armed Forces Medical College in Pune by Chief of Defence Staff, General Anil Chauhan.
The collaboration aims to address the mental health and well-being of Armed Forces personnel and their families.
Direct access to specialized care will be provided, ensuring prompt and effective addressing of their unique mental health needs.

Digital Extension of DMHP:

Tele MANAS serves as the digital extension of the District Mental Health Programme (DMHP), offering comprehensive, integrated, and inclusive 24/7 tele-mental health services.

Toll-Free Support Line:

The initiative provides a toll-free number, 14416, in each State and Union Territory (UT) for easy access to mental health support.
Currently, 51 operational Tele MANAS cells are functioning across all 36 States and UTs, offering services in 20 different languages.
Since its launch in October 2022, Tele MANAS has received over 10 lakh calls and manages more than 3,500 calls daily.
This collaborative effort between the Ministry of Health and Family Welfare and the Ministry of Defence underscores the commitment to addressing mental health issues, particularly within the Armed Forces community, through accessible and specialized care.

17) Answer: C

Short Explanation:

On the occasion of World Environment Day, the Brihanmumbai Municipal Corporation (BMC) launched its inaugural Climate Budget Report for 2024-25.
With this initiative, BMC has emerged as the first municipal corporation in India and the fourth globally, following Oslo, New York, and London, to release such a comprehensive report.
BMC has allocated Rs 10,224.24 crores for climate-relevant activities, comprising 32.18% of the total capital expenditure budget.

Detailed Explanation:

On the occasion of World Environment Day, the Brihanmumbai Municipal Corporation (BMC) launched its inaugural Climate Budget Report for 2024-25.
With this initiative, BMC has emerged as the first municipal corporation in India and the fourth globally, following Oslo, New York, and London, to release such a comprehensive report.
BMC has allocated Rs 10,224.24 crores for climate-relevant activities, comprising 32.18% of the total capital expenditure budget.
The BMC has set ambitious goals, aiming for 100% municipal and private zero-emission vehicles by 2050, and targeting a 50% reduction in landfill waste by the same year.
The climate budget report is part of the C40 Cities’ climate budget pilot program, which commenced in September 2021.
Mumbai’s climate budgeting process is led by BMC’s Environment Department and supported by WRI India and C40 Cities, reflecting a collaborative approach to addressing climate challenges.

18) Answer: C

Short Explanation:

Seagram’s Royal Stag has extended its association with the International Cricket Council (ICC) for four more years, solidifying the brand’s commitment to cricket and the sport’s global community of fans.
The partnership, which will run until the end of 2027, extends Royal Stag’s status as an Official Supporter, kicking off with the ICC Men’s T20 World Cup in the West Indies and the USA.

Detailed Explanation:

Seagram’s Royal Stag has extended its association with the International Cricket Council (ICC) for four more years, solidifying the brand’s commitment to cricket and the sport’s global community of fans.
The partnership, which will run until the end of 2027, extends Royal Stag’s status as an Official Supporter, kicking off with the ICC Men’s T20 World Cup in the West Indies and the USA.
This extension follows the brand’s successful five-year partnership with the ICC between 2018 and 2023.
Pernod Ricard India, the manufacturer of the Indian whiskey brand, said Royal Stag’s continued association with the ICC and cricketers like Rohit Sharma, Jasprit Bumrah, and Suryakumar Yadav has helped engage with millions of cricket fans across the globe.

19) Answer: A

Short Explanation:

Microsoft co-founder Bill Gates announced the release of his memoir titled Source Code: My Beginnings, set to hit the shelves on February 4, 2025.
The book, currently available for pre-order, will chronicle Gates’s life from childhood up until the formation of Microsoft in 1975.

Detailed Explanation:

Microsoft co-founder Bill Gates announced the release of his memoir titled Source Code: My Beginnings, set to hit the shelves on February 4, 2025.

Pre-order Now Available

The book, currently available for pre-order, will chronicle Gates’s life from childhood up until the formation of Microsoft in 1975.

Exploring Personal Challenges

In a blog post, Gates revealed that his memoir will delve into the more challenging aspects of his early life, including feeling like a misfit during childhood, clashing with his parents as a teenager, dealing with the sudden loss of a loved one, and almost being expelled from college.

Focus on Personal Growth

However, Source Code is not about Microsoft or Gates’s other business ventures. Instead, it focuses on the early passions and pursuits that shaped Gates into the person he is today.

20) Answer: B

Short Explanation:

Every year on June 8th, World Ocean Day is commemorated to raise awareness of the ocean’s vital role in human life and ways to conserve it across the world.
The theme for World Oceans Day 2024 is “Awaken New Depths”.
In 2008 World Ocean Day was officially created by the United Nations General Assembly to be observed yearly on June 8 to address ocean issues and conserve ocean water.

Detailed Explanation:

Every year on June 8th, World Ocean Day is commemorated to raise awareness of the ocean’s vital role in human life and ways to conserve it across the world.
The theme for World Oceans Day 2024 is “Awaken New Depths”.
In 1992, during the Earth Summit in Rio de Janeiro, the notion of World Ocean Day was introduced.
In 2008 World Ocean Day was officially created by the United Nations General Assembly to be observed yearly on June 8 to address ocean issues and conserve ocean water.
On June 8, 2009, The United Nations General Assembly formally designated the day with Resolution 63/111.

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Daily Current Affairs Quiz – 08th June 2024

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