Daily Current Affairs Quiz – 11th July 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 11th 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.

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1) Which private sector bank has engaged into a Bancassurance agreement with Bajaj Allianz Life Insurance, a private life insurer?

(a) Bandhan bank

(b) Indian bank

(d) ICICI bank

(e) Federal bank

2) As per the report, Canara Bank, a public sector lender, intends to raise up to Rs 10,000 crore through infrastructure bonds this fiscal year (FY25) for lending to projects in sectors like as highways, power, and ports. It is the third state-owned financial institution. Which bank is ranked second on the list?

(a) Bank of India

(b) Indian bank

(d) Punjab & National bank

(e) Karnataka bank

3) The Reserve Bank of India’s Financial Inclusion Index (FI-Index) Shows Significant Growth in Q1 FY 2024. How many major parameters does the FI-Index have?

(a) 4

(b) 5

(d) 3

(e) 6

4) The 16th Finance Commission has formed an advisory group of five individuals to give advise on its Terms of Reference (ToR) and associated issues. Who will be the Convenor of the Advisory Council?

(a) D.K. Srivastava

(b) Neelkanth Mishra

(d) Poonam Gupta

(e) Rahul Bajoria

5) Which bank has responded to the rising incidence of cyber scams by implementing a new security feature called “Safety Ring” into its online and mobile banking systems?

(a) Bank of India

(b) Indian bank

(d) Punjab & National Bank

(e) Karnataka bank

6) In July 2024, through a new branch, BNP Paribas, the top bank in the European Union and a major force in global banking, has begun operations at the GIFT-IFSC. Where is the BNP Paribas headquarters located?

(a) Singapore

(b) France

(d) Germany

(e) Hong Kong

7) Which private lending bank has launched many products to help with cross-border trade?

(a) Bandhan bank

(b) Indian bank

(d) ICICI bank

(e) Federal bank

8) What significant milestone did HDFC ERGO General Insurance Company recently achieve?

(a) HDFC ERGO launched a new insurance policy

(b) HDFC ERGO successfully processed its first health claim through the National Health Claims Exchange (NHCX) platform

(d) HDFC ERGO introduced a new customer service hotline

(e) None of these

9) Which company has become the biggest provider of digital financial services when it comes to the value of Prepaid Payment Instrument (PPI) Wallet transactions in April and May of 2024?

(a) Paytm

(b) MobiKwik

(d) Google pay

(e) Razorpay

10) The ICICI Prudential Nifty Oil & Gas ETF, the country’s first exchange-traded fund (ETF) in the oil and gas industry, was introduced by ICICI Prudential Mutual Fund. How many stocks listed on the National Stock Exchange are included in the Nifty Oil & Gas Index at most?

(a) 10

(b) 12

(d) 18

(e) 20

11) How many crores of stressed loans are exposed to Amul Industries, and State Bank of India (SBI) has requested expressions of interest (EoIs) from different businesses to purchase them through an online auction on August 7, 2024?

(a) Rs 14.97 crore

(b) Rs 11.97 crore

(d) Rs 15.97 crore

(e) Rs 18.97 crore

12) According to the analysis, India and which country want to boost bilateral trade to $100 billion by 2030?

(a) Japan

(b) USA

(d) Thailand

(e) Russia

13) According to a recent estimate, the gaming sector in India is expected to develop at an impressive rate of 20%, with a projected valuation of Rs 23,100 crore by the year FY25. With 442 million online gamers, India has surpassed which nation in terms of online gaming population?

(a) USA

(b) China

(d) Japan

(e) Australia

14) A new system is being implemented by the Agriculture Ministry to generate distinct digital identification cards for farmers. Under the Kisan Credit Cards, some districts are testing digital credit sanctions (KCCs). Which state’s FRUITS software is the model for the new system?

(a) Bihar

(b) Kerala

(d) Jammu & Kashmir

(e) Uttarakhand

15) The Bhoj Wetland in Bhopal faces the possibility of being removed from the list of Wetlands of International Importance under the Ramsar Convention because of possible harm to its natural characteristics. Which year did Bhoj Wetland receive its Ramsar designation?

(a) 2000

(b) 2001

(d) 2003

(e) 2004

16) As per the report, India plans to invest US$1 billion to expedite the building of 12 hydropower units in the state of Arunachal Pradesh, which is located in the northeast Himalayas. With which nation does this significant action likely increase friction and assert authority over the region?

(a) USA

(b) China

(d) Japan

(e) Iran

17) Which of the following statements is untrue, according to the Maharashtra government?

(a) Mukhyamantri Annapoorna Yojana: Three free cylinders to women.

(b)Mukhyamantri Yuva Karyaprashikshan Yojana: Youth training initiative.

(c)Mukhyamantri Krishi Pump Yojana: Agriculture pump scheme.

(d)Mukhyamantri Majhi LadkiBahin Yojana: Monthly allowance of Rs 2,000 for eligible women aged 21 to 60 years.

(e)Free Education Scheme: Aimed at providing free education to women.

18) As per the report, ONGC intends to invest ₹2 lakh crore in order to attain carbon emissions that are zero by 2038.Two-thirds of India’s crude oil and what percentage of its natural gas are produced by ONGC?

(a) 58%

(b) 55%

(d) 59%

(e) 60%

19) According to the report, India’s growth forecast for 2024 has been kept by Moody’s at 6.8%, in line with its estimate from March. What percentage growth in GDP is the agency projecting for the Indian economy in 2025?

(a) 6.2%

(b) 6.4%

(d) 6.8%

(e) 7.0%

20) As per July 2024 report, Professor Soumya Swaminathan has been named Principal Advisor for the National Tuberculosis Elimination Programme by the Union Ministry of Health and Family Welfare. Who is the current Union Minister of Health and Family Welfare?

(a) Anupriya Patel

(b) Prataprao Jadhav

(d) Ramesh Chandra Joshi

(e) Amit Mishra

21) How many Executive Directors (EDs) have been appointed to Public Sector General Insurance Companies (PGICs) by the Cabinet Appointments Committee (ACC)?

(a) 7

(b) 8

(d) 6

(e) 5

22) The Russian President Vladimir Putin formally bestowed the “Order of St. Andrew the Apostle” to Prime Minister Narendra Modi. A star worn on one side, a badge with the cross of St. Andrew, and a ______________ sash are among the symbols included in the award.

(a) Red

(b) Blue

(d) White

(e) Gold

23) BCCI Secretary Jay Shah has announced the appointment of former Indian cricketer Gautam Gambhir as the new head coach of the Indian men’s cricket team. Gautam Gambhir’s tenure as head coach will begin with the forthcoming away series against which nation?

(a) Australia

(b) Sri Lanka

(d) South Africa

(e) New Zealand

24) Which year did the UN declare July 11th to be World Population Day?

(a) 1988

(b) 1989

(d) 1999

(e) 1998

25) Where is the headquarters of Mobikwik?

(a) Gujarat

(b) Karnataka

(d) Madhya Pradesh

(e) Maharashtra

Answers :

1) Answer: E

Short Explanation:

Federal Bank, a private sector bank, has entered into a Bancassurance tie-up with Bajaj Allianz Life Insurance, a private life insurer.

This partnership will enable Federal Bank’s customers to seamlessly access Bajaj Allianz Life Insurance’s products, across the Bank’s extensive network in India.

Detailed Explanation:

Federal Bank, a private sector bank, has entered into a Bancassurance tie-up with Bajaj Allianz Life Insurance, a private life insurer.

This partnership will enable Federal Bank’s customers to seamlessly access Bajaj Allianz Life Insurance’s products, across the Bank’s extensive network in India.

It aligns with both the companies’ strategic goals and growth plans and will drive insurance penetration and market expansion.

Corporate Agents: The regulator had paved the way for corporate agents (banks) to have distribution tie up with a maximum of 9 life insurers, 9 general insurers and 9 health insurers.

Insurance Marketing Firms (IMF): Also, IMF can now enter into tie up with as many as 6 life, general and health insurers.

2) Answer: A

Short Explanation:

Public sector lender Canara Bank plans to raise up to Rs 10,000 crore through infrastructure bonds for lending to projects in areas like roads, power and ports, among others, this financial year (FY25).

Comparison with Other Lenders:It is the 3rd state-owned lender after:

State Bank of India (SBI) with Rs 20,000 crore planned and Rs 10,000 crore raised in June 2024.

Bank of India (BoI) with Rs 10,000 crore planned.

Credit Rating:CRISIL (formerly Credit Rating Information Services of India Limited) and CareEdge Ratings have assigned an “AAA” rating to Canara Bank’s infrastructure bonds.

Detailed Explanation:

Comparison with Other Lenders:It is the 3rd state-owned lender after:

State Bank of India (SBI) with Rs 20,000 crore planned and Rs 10,000 crore raised in June 2024.

Bank of India (BoI) with Rs 10,000 crore planned.

Credit Rating:CRISIL (formerly Credit Rating Information Services of India Limited) and CareEdge Ratings have assigned an “AAA” rating to Canara Bank’s infrastructure bonds.

Previous Year Raising : In FY24, Canara Bank raised Rs 10,000 crore via infrastructure bonds.

Raised in two tranches:

Rs 5,000 crore at a 7.54% coupon rate

Rs 5,000 crore at a 7.68% coupon rate

Regulatory Requirements for Deposits:

Banks are required to keep 4.5% of deposits as CRR with the Reserve Bank of India (RBI).

Banks must invest about 18% of deposits in securities to maintain the SLR.

3) Answer: D

Short Explanation:

The Reserve Bank of India (RBI) had constructed a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country, which was first published in August 2021 for the Financial Year (FY) ending March 2021.

Composition and Parameters:FI-Index comprises 3 main parameters: Access (35%), Usage (45%), and Quality (20%).

Detailed Explanation:

The FI-Index for the year ending March 2024 has since been prepared.

Index Value and Growth:FI-Index for March 2024 stands at 64.2, up from 60.1 in March 2023, indicating significant growth.

Improvement is noted across all sub-indices, primarily driven by enhancements in the Usage dimension, reflecting deeper financial inclusion.

Composition and Parameters:FI-Index comprises 3 main parameters: Access (35%), Usage (45%), and Quality (20%).

These parameters include various dimensions evaluated through 97 indicators, covering aspects like ease of access, service availability, usage, and service quality.

Annual Publication and Purpose:FI-Index was developed by the RBI in 2021, without any ‘base year’, and is published in July every year.

4) Answer: D

Short Explanation:

The 16th Finance Commission has established an advisory council comprising 5 members to provide guidance on its Terms of Reference (ToR) and related subjects.

Members of the Advisory Council:

Dr. D.K. Srivastava

Mr. Neelkanth Mishra

Dr. Poonam Gupta

Ms. Pranjul Bhandari

Mr. Rahul Bajoria

Dr. Poonam Gupta shall be the Convenor of the Advisory Council.

Detailed Explanation:

The 16th Finance Commission has established an advisory council comprising 5 members to provide guidance on its Terms of Reference (ToR) and related subjects.

Members of the Advisory Council:

Dr. D.K. Srivastava

Mr. Neelkanth Mishra

Dr. Poonam Gupta

Ms. Pranjul Bhandari

Mr. Rahul Bajoria

Dr. Poonam Gupta shall be the Convenor of the Advisory Council.

To advise the Commission on any of the Terms of Reference (ToR) or related subjects that may be of relevance.

To assist in the preparation of papers or research studies and to monitor or assess studies commissioned by the Finance Commission, thereby enhancing the Commission’s understanding of the issues in its ToR.

5) Answer: D

Short Explanation:

Detailed Explanation:

State-owned Punjab National Bank (PNB) introduced a new security feature ‘Safety Ring’ within its internet banking system and mobile banking system in response to the increasing number of cyber frauds.

This mechanism provides an additional safety layer to minimise potential losses in case of unauthorised access by fraudsters.

Purpose: The feature adds an additional layer of security to mitigate potential losses from unauthorized access by fraudsters.

Functionality:’Safety Ring’ is optional and allows customers to set a daily transaction limit.

Specifically, it applies to online closure of term deposits (TDs) or availing overdraft facilities on TDs up to the set limit amount.

Customer Control: Customers can set their transaction limits within the consolidated digital channels limit for managing TD closures or overdraft facilities.

6) Answer: B

Short Explanation:

BNP Paribas, the European Union’s leading bank and a key player in international banking, has launched operations at the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC) through a new branch.

The BNP Paribas GIFT City branch will facilitate a comprehensive product offering to attract new business opportunities with its onshore and offshore clients.

About BNP Paribas :

Headquarters : Paris, France

BNP Paribas (sometimes referred to as BNPP or BNP) is a multinational universal bank and financial services holding company.

Detailed Explanation:

The BNP Paribas GIFT City branch will facilitate a comprehensive product offering to attract new business opportunities with its onshore and offshore clients.

About BNP Paribas :

Headquarters : Paris, France

BNP Paribas (sometimes referred to as BNPP or BNP) is a multinational universal bank and financial services holding company.

It was founded in 2000 from the merger of two of France’s foremost financial institutions, Banque Nationale de Paris (BNP) and Paribas.

7) Answer: A

Short Explanation:

Private lender Bandhan Bank has introduced a range of products aimed at facilitating international trade.

Target Audience: These products cater to both importers and exporters, providing tailored solutions to enhance global transaction efficiency.

Key Products: The offerings includeletters of credit (LCs), remittances, bank guarantees, export-import collection bills, and bill/invoice discounting.

Detailed Explanation:

Private lender Bandhan Bank has introduced a range of products aimed at facilitating international trade.

Target Audience: These products cater to both importers and exporters, providing tailored solutions to enhance global transaction efficiency.

Key Products: The offerings includeletters of credit (LCs), remittances, bank guarantees, export-import collection bills, and bill/invoice discounting.

Benefits: These products aim to streamline global transactions, enhance financial flexibility, and boost confidence in international trade operations.

Impact on SMEs and Corporates: The new products empower small and medium enterprises (SMEs) and corporates to expand their businesses globally by providing necessary financial instruments.

Retail Customers: Additionally, retail customers can benefit from the ability to make international remittances seamlessly.

8) Answer: B

Short Explanation:

HDFC ERGO General Insurance Company has successfully processed its first health claim through the National Health Claims Exchange (NHCX) platform.

NHCX is a single-window interface developed by the National Health Authority (NHA).

It provides a secure platform and efficient exchange of health insurance claims data.

The process begins with the hospital generating a bill through their Hospital Information System (HIS), which is then uploaded to a Third-Party Administrator (TPA) app.

Detailed Explanation:

HDFC ERGO General Insurance Company, has successfully processed its first health claim through the National Health Claims Exchange (NHCX) platform.

NHCX is a single-window interface developed by the National Health Authority (NHA).

It provides a secure platform and efficient exchange of health insurance claims data.

The platform will strengthen efficiency and transparency in claims processing.

The process begins with the hospital generating a bill through their Hospital Information System (HIS), which is then uploaded to a Third-Party Administrator (TPA) app.

HDFC ERGO’s Health Claim System (HCS) processes the claims in their claim processing queue.

The NHCX platform aims to revolutionize India’s health insurance landscape by setting a new standard for efficiency and transparency in claims processing.

9) Answer: B

Short Explanation:

MobiKwikhas emerged as the largest digital financial services platform in terms of Prepaid Payment Instrument (PPI) Wallet transactions by value for April and May, 2024.

The company saw its market share by value grow from 11% in March 2024 to 20% in April and further to 23% in May.

Introduction of Pocket UPI:Pocket UPI, a new product by MobiKwik, facilitates instant payments through Wallets across the UPI network.

Detailed Explanation:

MobiKwikhas emerged as the largest digital financial services platform in terms of Prepaid Payment Instrument (PPI) Wallet transactions by value for April and May, 2024.

The company saw its market share by value grow from 11% in March 2024 to 20% in April and further to 23% in May.

Introduction of Pocket UPI:Pocket UPI, a new product by MobiKwik, facilitates instant payments through Wallets across the UPI network.

Market Share Details :MobiKwik commanded a 48% market share for PPI Wallet transactions by value in May 2024, after excluding FASTag-related transaction value.

Upcoming IPO:OneMobiKwik Systems Limited filed preliminary papers in January with Securities and Exchange Board of India (SEBI) to raise up to Rs 700 crore through an initial public offering (IPO).

10) Answer: C

Short Explanation:

ICICI Prudential Mutual Fund has launched the ICICI Prudential Nifty Oil & Gas ETF, India’s first exchange traded fund (ETF) in the oil and gas sector.

The Nifty Oil & Gas Index comprises a maximum of 15 stocks listed on the National Stock Exchange.

The selection ensures that no single company holds more than 33% of the weight and the combined weight of the top 3 companies does not surpass 62% of the index.

Detailed Explanation:

ICICI Prudential Mutual Fund has launched the ICICI Prudential Nifty Oil & Gas ETF, India’s first exchange traded fund (ETF) in the oil and gas sector.

The Nifty Oil & Gas Index comprises a maximum of 15 stocks listed on the National Stock Exchange.

The selection ensures that no single company holds more than 33% of the weight and the combined weight of the top 3 companies does not surpass 62% of the index.

This ensures a balanced and diversified exposure.

The Nifty Oil & Gas Index is updated twice a year to reflect the sector’s performance accurately and has outperformed broader market indices broader market indices in many years.

Fund type : This is an open-ended scheme, meaning investors can redeem their units at any time.

It’s an index fund, which passively invests in the companies that comprise the Nifty Oil & Gas TRI.

Fund managers: Nishit Patel and Priya Sridhar

Minimum investment: Rs 100 (plus in multiple of Re 1).

11) Answer: A

Short Explanation:

State Bank of India (SBI) has invited expressions of interest (EoIs) from various entities to acquire its stressed loan exposure of Rs 14.97 crore in Amul Industries through an e-auction scheduled for August 7, 2024.

Security Details:SBI holds primary security of Rs 43.49 crore and collateral security of Rs 55.78 crore against its exposure.

Detailed Explanation:

Security Details:SBI holds primary security of Rs 43.49 crore and collateral security of Rs 55.78 crore against its exposure.

Additionally, there is a third-party guarantee of Rs 52.77 crore.

Entities Eligible: Interested entities such as asset reconstruction companies (ARCs), eligible non-banking finance companies (NBFCs), banks, and Indian financial institutions can submit EoIs by July 16, 2024.

Due Diligence and Bidding Process:Entities submitting EoIs can conduct due diligence on the asset until August 5.

12) Answer: E

Short Explanation:

India and Russia target increasing bilateral trade to $100 billion by 2030.

Efforts will focus on balancing the currently uneven trade relationship and removing non-tariff trade barriers.

Both nations are exploring the establishment of a Eurasian Economic Union (EAEU)-India Free Trade Area to enhance economic cooperation.

Detailed Explanation:

India and Russia target increasing bilateral trade to $100 billion by 2030.

Efforts will focus on balancing the currently uneven trade relationship and removing non-tariff trade barriers.

Both nations are exploring the establishment of a Eurasian Economic Union (EAEU)-India Free Trade Area to enhance economic cooperation.

Plans are underway to create a bilateral settlement system utilizing national currencies.

The introduction of digital financial instruments for mutual settlements is also being considered.

The announcement followed extensive discussions between Prime Minister Narendra Modi and Russian President Vladimir Putin.

Modi was honoured with the ‘Order of St Andrew the Apostle’ award by Putin, recognizing his efforts in strengthening India-Russia relations.

13) Answer: B

Short Explanation:

A recent report highlights that the Indian gaming industry is set to achieve a remarkable 20% growth, reaching a value of Rs 23,100 crore by FY25.

The report, released by Grant Thornton Bharat and the E-Gaming Federation, provides insights into the industry’s current state and future prospects.

India now has 442 million online gamers, surpassing China in terms of the number of online gamers.

Detailed Explanation:

A recent report highlights that the Indian gaming industry is set to achieve a remarkable 20% growth, reaching a value of Rs 23,100 crore by FY25.

The report, released by Grant Thornton Bharat and the E-Gaming Federation, provides insights into the industry’s current state and future prospects.

The Indian gaming industry is expected to grow by 20% and hit Rs 23,100 crore by FY25.

The growth is driven by a vibrant young demographic and an overall dynamic gaming landscape in India.

India now has 442 million online gamers, surpassing China in terms of the number of online gamers.

The report advocates for a comprehensive Code of Conduct (CoC) to ensure ethical behavior, accountability, and transparency within the gaming industry.

Over the past five years, the Indian gaming sector has attracted USD 2.8 billion in investments from both domestic and global sources.

14) Answer: C

Short Explanation:

The unique IDs will include details on farmers’ land holdings, crops grown, and other relevant information.

This system will facilitate:

Direct cash benefits (e.g., PM Kisan)

Sanctioning of credits

Crop insurance

Projecting crop yield in advance

The new system is modeled after Karnataka’s FRUITS software.

In the next couple of years, digital IDs will become mandatory for receiving direct cash benefits like those under PM Kisan.

Detailed Explanation:

The unique IDs will include details on farmers’ land holdings, crops grown, and other relevant information.

This system will facilitate:

Direct cash benefits (e.g., PM Kisan)

Sanctioning of credits

Crop insurance

Projecting crop yield in advance

Under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, an API-based software verifies farmers’ land records for benefit claims.

Most states have already digitized their land records.

Several districts are piloting digital credit sanctions under the Kisan Credit Cards (KCCs):

Farrukhabad (Uttar Pradesh)

Beed (Maharashtra)

Gandhinagar (Gujarat)

Fatehgarh Sahib (Punjab)

Virudhunagar (Tamil Nadu)

The new system is modeled after Karnataka’s FRUITS software, which integrates:

Aadhar-based registration

Bhoomi digitized land records for land ownership verification.

Through FRUITS, farmers can access benefits such as:

PM Kisan cash incentives

Minimum Support Price payments

Special financial assistance

Caste certificate authentication

Ration cards

In the next couple of years, digital IDs will become mandatory for receiving direct cash benefits like those under PM Kisan.

15) Answer: C

Short Explanation:

Bhoj Wetland is facing the threat of being delisted from the Ramsar Convention’s list due to concerns about damage to its ecological character.

The Ramsar Convention Secretariat in Switzerland has requested clarification from India on this issue.

Bhoj Wetland was designated as a Ramsar site in August 2002.

It is one of 82 Ramsar sites in India, part of a global list for wetland conservation.

Detailed Explanation:

Bhoj Wetland is facing the threat of being delisted from the Ramsar Convention’s list due to concerns about damage to its ecological character.

The Ramsar Convention Secretariat in Switzerland has requested clarification from India on this issue.

This request is the first step in the delisting process, involving an analysis of potential changes to the wetland’s ecological character due to pollution or human interference.

The Environment Ministry of India, the nodal authority for wetlands, is expected to respond to the Convention Secretariat under Article 3.2 of the Ramsar Convention.

Bhoj Wetland was designated as a Ramsar site in August 2002.

It is one of 82 Ramsar sites in India, part of a global list for wetland conservation.

The Ramsar Convention was adopted in 1971 in Ramsar, Iran. It offers a framework for the conservation and wise use of wetlands across 172 member countries, including India.

The number of Ramsar sites in India increased from 26 to 82 in the past decade, with 40 sites added in the last three years.

16) Answer: B

Short Explanation:

India is set to invest US$1 billion to accelerate the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh.

This major move could potentially escalate tensions with China, which claims sovereignty over the region.

The federal finance ministry, led by Nirmala Sitharaman, has recently approved up to 7.5 billion rupees (US$89.85 million) in financial support for each hydropower project in the northeastern region.

The official plans for the hydropower stations are expected to be announced in the 2024/2025 federal budget.

Detailed Explanation:

India is set to invest US$1 billion to accelerate the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh.

This major move could potentially escalate tensions with China, which claims sovereignty over the region.

The official plans for the hydropower stations are expected to be announced in the 2024/2025 federal budget.

These contracts are part of a larger initiative to develop infrastructure in the border region, involving an estimated investment of US$11 billion for the construction of 11.5-gigawatt-capacity plants.

The hydropower stations will help in:

Expanding India’s renewable energy capacity.

Enhancing energy security in the northeastern region.

Supporting sustainable development and regional growth.

17) Answer: D

Short Explanation:

In a significant move, the Maharashtra government announced that higher education for girls belonging to the Economically Weaker Section (EWS), Socially and Economically Backward Classes (SEBC), and Other Backward Classes (OBC) will be made free.

Related Schemes Announced:

Mukhyamantri Annapoorna Yojana: Three free cylinders to women.

Mukhyamantri Yuva Karyaprashikshan Yojana: Youth training initiative.

Mukhyamantri Krishi Pump Yojana: Agriculture pump scheme.

Mukhyamantri Majhi LadkiBahin Yojana: Monthly allowance of Rs 1,500 for eligible women aged 21 to 60 years.

Free Education Scheme: Aimed at providing free education to women.

Detailed Explanation:

Cabinet Decision: The decision was made during a cabinet meeting chaired by Chief Minister Eknath Shinde.

Additional Benefits : Additionally, tuition and exam fees for orphaned students of both genders will be waived, as per a government resolution (GR).

Implementation Date: The scheme will start from the 2024-25 academic year.

Estimated Cost: The initiative is expected to cost Rs 906 crore.

Related Schemes Announced:

Mukhyamantri Annapoorna Yojana: Three free cylinders to women.

Mukhyamantri Yuva Karyaprashikshan Yojana: Youth training initiative.

Mukhyamantri Krishi Pump Yojana: Agriculture pump scheme.

Mukhyamantri Majhi LadkiBahin Yojana: Monthly allowance of Rs 1,500 for eligible women aged 21 to 60 years.

Free Education Scheme: Aimed at providing free education to women.

18) Answer: A

Short Explanation:

ONGC plans to invest ₹2 lakh crore to achieve net-zero carbon emissions by 2038.

Focus areas include renewable energy and green hydrogen initiatives.

ONGC produces two-thirds of India’s crude oil and 58% of its natural gas.

In 2023-24, ONGC produced 21.14 million tonnes of oil and 20.648 bcm of gas.

Detailed Explanation:

ONGC plans to invest ₹2 lakh crore to achieve net-zero carbon emissions by 2038.

Focus areas include renewable energy and green hydrogen initiatives.

ONGC produces two-thirds of India’s crude oil and 58% of its natural gas.

In 2023-24, ONGC produced 21.14 million tonnes of oil and 20.648 bcm of gas.

As of July 10, 2024, ONGC shares are trading at ₹297, reflecting a 0.17% increase from the previous close.

The stock has gained 83% in the past year and 45% since the start of the year.

By 2030: ₹97,000 crore for 5 gigawatts of renewable energy, green hydrogen, biogas, pump storage plants, and offshore wind projects.

By 2035: ₹65,500 crore for green hydrogen and green ammonia facilities.

By 2038: ₹38,000 crore for 1 gigawatt of offshore wind projects.

19) Answer: B

Short Explanation:

Moody’s has maintained India’s 2024 growth projection at 6.8%, consistent with its estimate from March.

Looking ahead to 2025, the agency anticipates that the Indian economy will grow by 6.4%.

The Reserve Bank of India (RBI) recently raised its growth forecast to 7.2% for 2024, up from its previous projection of 7%.

Detailed Explanation:

Moody’s has maintained India’s 2024 growth projection at 6.8%, consistent with its estimate from March.

Looking ahead to 2025, the agency anticipates that the Indian economy will grow by 6.4%.

The Reserve Bank of India (RBI) recently raised its growth forecast to 7.2% for 2024, up from its previous projection of 7%.

Moody’s forecasts a decrease in inflation to 5.2% for the current year, down from 5.7% in 2023.

A further decline to 4.8% is projected for 2025.

Recent government data showed that inflation in May hit a 12-month low of 4.75%.

India and Vietnam are exceptions, with stronger wage increases exceeding 5% year-on-year.

20) Answer: C

Short Explanation:

Professor (Dr.) Soumya Swaminathan has been appointed as the Principal Advisor at the Union Ministry of Health & Family Welfare (MoHFW) for the National Tuberculosis Elimination Programme (NTEP) on a pro bono basis.

According to the India TB report released by the Centre, India accounts for 25% of world’s TB burden and over 25 lakh new cases of TB were notified in 2024 in India.

About Ministry of Health and Family Welfare :

Cabinet Minister : Jagat Prakash Nadda

Detailed Explanation:

She will be based out of Chennai,Tamil Nadu (TN) where she heads the MS Swaminathan Research Foundation that works on issues of agriculture and climate change.

She was the former Chief Scientist of the World Health Organization and has also served as the Director General of the Indian Council of Medical Research (ICMR) during 2015-2017.

According to the India TB report released by the Centre, India accounts for 25% of world’s TB burden and over 25 lakh new cases of TB were notified in 2024 in India.

About Ministry of Health and Family Welfare :

Cabinet Minister : Jagat Prakash Nadda

Minister of State : Anupriya Patel, Prataprao Ganpatrao Jadhav

21) Answer: B

Short Explanation:

The Appointments Committee of the Cabinet (ACC) has approved the appointment of 8 Executive Directors (EDs) in Public Sector General Insurance Companies (PGICs).

The tenures of the appointed Executive Directors range from less than a year to 4 years.

Detailed Explanation:

The Appointments Committee of the Cabinet (ACC) has approved the appointment of 8 Executive Directors (EDs) in Public Sector General Insurance Companies (PGICs).

Rashmi Bajpai: Currently General Manager (GM) in Oriental Insurance Company Limited (OICL) appointed as Executive Director (ED) in OICL.

Amit Mishra: GM in New India Assurance Company Ltd (NIACL) appointed as ED in OICL.

Hitesh Ramesh Chandra Joshi: GM in GIC Re appointed as ED in GIC Re.

Radhika C.S.: GM in United India Insurance Company Ltd (UIICL) appointed as ED in GIC Re.

Babu Paul: GM in National Insurance Company Ltd (NICL) appointed as ED in NICL.

Prasad C.G.: GM in NIACL appointed as ED in NICL.

Sunita Gupta: GM in OICL appointed as ED in UIICL.

Dasarathi Singh: GM in Agriculture Insurance Company of India Limited appointed as ED in the same company.

The tenures of the appointed Executive Directors range from less than a year to 4 years.

22) Answer: B

Short Explanation:

Prime Minister Narendra Modi received the Order of St. Andrew the Apostle from Russian President Vladimir Putin.

The Order of St. Andrew the Apostle is Russia’s highest order of chivalry.

It was established by Tsar Peter the Great in 1698 to honourSaint Andrew, Russia’s patron saint and the first apostle of Jesus.

The insignia includes a blue sash, a badge featuring the cross of St. Andrew, and a star worn on the chest.

The badge is a golden cross with an image of Saint Andrew crucified on an X-shaped cross.

Detailed Explanation:

Prime Minister Narendra Modi received the Order of St. Andrew the Apostle from Russian President Vladimir Putin.

The Order of St. Andrew the Apostle is Russia’s highest order of chivalry.

It was established by Tsar Peter the Great in 1698 to honourSaint Andrew, Russia’s patron saint and the first apostle of Jesus.

created to recognize outstanding civilian and military merit.

The order was abolished after the Russian Revolution in 1917 but was revived in the post-Soviet era.

It continues to be awarded by the President of Russia for exceptional service to the state.

The insignia includes a blue sash, a badge featuring the cross of St. Andrew, and a star worn on the chest.

The badge is a golden cross with an image of Saint Andrew crucified on an X-shaped cross.

The order is given for exceptional contributions to the state, reflecting a prestigious symbol of honor and distinction.

The award highlights Modi’s role in strengthening the strategic partnership between India and Russia.

It reflects the significant impact of his efforts in fostering amicable relations between the two nations.

23) Answer: B

Short Explanation:

Gautam Gambhir is appointed as the new head coach of the Indian men’s cricket team.

The announcement was made by Jay Shah, the Secretary of the Board of Control for Cricket in India (BCCI).Gambhir replaces Rahul Dravid.

Gautam Gambhir will start his role as head coach from the upcoming away series against Sri Lanka.

A former Indian Test captain, Gambhir has been recognized for his contributions as a player and mentor in the cricketing world.

Detailed Explanation:

Gautam Gambhir is appointed as the new head coach of the Indian men’s cricket team.

The announcement was made by Jay Shah, the Secretary of the Board of Control for Cricket in India (BCCI).

Gambhir replaces Rahul Dravid, who previously led the team to significant achievements:

Finalist in the ICC World Test Championship.

Reached the final of the ODI Cricket World Cup in 2023.

Won the T20 World Cup 2024 in June.

Dravid stepped down after a three-year contract with BCCI, following a successful T20 World Cup campaign in the USA and West Indies.

Gautam Gambhir will start his role as head coach from the upcoming away series against Sri Lanka.

The series includes three ODIs and three T20Is, starting from July 27.

Although Gambhir lacks formal coaching experience, he has been a mentor for two Indian Premier League (IPL) teams:

Lucknow Super Giants.

Kolkata Knight Riders, where he was instrumental in their IPL 2024 title win.

A former Indian Test captain, Gambhir has been recognized for his contributions as a player and mentor in the cricketing world.

24) Answer: B

Short Explanation:

On July 11th of this current year, World Population Day 2024 is celebrated and observed all over the world as an awareness program.

“World Population Day 2024 theme is “To leave no one behind, count everyone.”

In 1989, The United Nations recognized July 11 as World Population Day.

Detailed Explanation:

On July 11th of this current year, World Population Day 2024 is celebrated and observed all over the world as an awareness program.

“World Population Day 2024 theme is “To leave no one behind, count everyone.”

In 1804, The world population reached 1 billion people.

In 1927, The world population doubled to 2 billion.

In 1989, The world population reached 3 billion.

In 1989, The United Nations recognized July 11 as World Population Day.

On 11 July 1990, the day was first marked in more than 90 countries.

Since then, many UNFPA country offices and other organizations and institutions have commemorated World Population Day in partnership with governments and civil society.

25) Answer: C

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This post was last modified on July 11, 2024 6:21 pm

6 months ago

Daily Current Affairs Quiz – 11th July 2024

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