Daily Current Affairs Quiz – 13th August 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 13th August 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) During FY25, Life Insurance Corporation of India (LIC) intends to make new equity investments totaling around ₹1.30 trillion. In Q1 FY25, LIC made ₹15,500 crore in profit from its equity investments, which is a quarter-over-quarter gain of what percentage?

(a) 12.5%

(b) 11.5%

(d) 13.5%

(e) 15.5%

2) In response to the Reserve Bank of India’s (RBI) monetary policy announcement, Bank of Baroda (BoB), Canara Bank, and UCO Bank raised their Marginal Cost of Funds Based Lending Rate (MCLR) by how many basis points across a selection of tenors?

(a) 2bps

(b) 4bps

(d) 1bps

(e) 3bps

3) According to the NPCI data, Unified Payments Interface Merchant Transactions in Nepal Reach 100,000 Milestone. How many countries presently accept UPI?

(a) 5

(b) 6

(d) 8

(e) 9

4) The government is pressuring state-run banks to assist rural regional banks in modernizing their technology and partnering with which company’s direct benefit transfer platform?

(a) NABARD

(b) NPCI

(d) RBI

(e) SIDBI

5) Every month, the National Payments Corporation of India reports credit disbursements of about ₹10,000 crore through the Unified Payments Interface. Which bank has become the industry leader in offering UPI credit limits that have been pre-approved?

(a) HDFC bank

(b) SBI bank

(d) PNB bank

(e) Canara bank

6) The Karnataka Bank is now taking UPI payments for GST. What is the maximum amount allowed via UPI method, and is there a cap on the amount that may be paid for GST via Internet Banking?

(a) Rs 1.00 lakh

(b) Rs 2.00 lakh

(d) Rs 4.00 lakh

(e) Rs 5.00 lakh

7) DCGI Issues Guidelines for the Traceability of Pharmaceutical Products. The pharmaceutical business in the nation is anticipated to increase in value from $50 billion to $65 billion by the end of 2024, and it is anticipated to reach how many billions by 2030?

(a) $110million

(b) $120million

(d) $140million

(e) $150million

8) As per the report, BEML wants to expand internationally via Metro Trains and Vande Bharat. What percentage of the company’s income is expected to come from exports, up from the existing 4%?

(a) 7%

(b) 8%

(d) 10%

(e) 12%

9) The 400-year-old Barapullah bridge, erected by Minar Banu Agha during Emperor Jahangir’s reign, was a vital link between the Mughal capital and notable landmarks such as the Nizamuddin Dargah and Humayun’s Tomb. Which year did the Mughal Emperor Jahangir build the bridge, as well as it will be restored in the following three months?

(a) 1625

(b) 1627

(d) 1629

(e) 1626

10) According to Ministry of defense officials, India is on track to reach its ambitious defense export target of how many crores over the next five years?

(a) Rs.20000crore

(b) Rs.30000crore

(d) Rs.50000crore

(e) Rs.35000crore

11) The global youth unemployment rate fell to what percent in 2023, the lowest level in 15 years.This is down from 13.8% in 2019, before to the COVID-19 pandemic?

(a) 12%

(b) 13%

(d) 11%

(e) 10%

12) How many new high-yielding, climate-resilient, and biofortified crop types did Prime Minister Narendra Modi announce at the India Agricultural Research Institute in New Delhi?

(a) 105

(b) 104

(d) 109

(e) 108

13) Annapurti, India’s first 24/7 grain ATM, was opened in Mancheswar, Bhubaneswar, Odisha. In how many minutes can the Annapurti Grain ATM distribute up to 50 kg of grain?

(a) 1min

(b) 2min

(d) 4min

(e) 5min

14) The Chhattisgarh government announced the establishment of a new tiger reserve, which would be named Guru Ghasidas-Tamor Pingla Tiger Reserve. This will be the _______ Tiger Reserve in Chhattisgarh.

(a) 2nd

(b) 3rd

(d) 5th

(e) 6th

15) Which nation will the Indian Air Force Team return to after successfully participating in Exercise Udara Shakti 2024?

(a) Singapore

(b) Malaysia

(d) France

(e) USA

16) Which edition of the Summer Olympic Games will be held in Paris in 2024, and for the third time, following 1900 and 1924?

(a) 32nd

(b) 33rd

(d) 35th

(e) 31st

17) The Paris Olympics 2024 will be the 33rd edition of the Summer Olympic Games. Which country took first place in the medal count?

(a) China

(b) Japan

(d) France

(e) Netherland

18) The International Olympic Committee (IOC) President, Thomas Bach, declared he will not be seeking reelection in 2025, the conclusion of his second term. Whom did he succeed?

(a) Anderson Peters

(b) Jacques Rogge

(d) Gagan Narang

(e) Aman Sehrawat

19) Hilal-e-Imtiaz will be awarded to Arshad Nadeem for his historic Olympic gold medal in javelin throw. Which government grants the Hilal-e-Imtiaz, the second-highest civilian award?

(a) Bangladesh

(b) Pakistan

(d) Bhutan

(e) UAE

20) Which year, on August 13, was International Lefthanders Day first observed annually by the Left-Handers Club?

(a) 1991

(b) 1992

(d) 1994

(e) 1995

Answers :

1) Answer: D

Short Explanation:

Life Insurance Corporation of India (LIC) plans to make fresh investments of approximately ₹1.30 trillion in equities during FY25.

In Q1 FY25 (April-June), LIC invested about ₹38,000 crore in shares, compared to ₹23,300 crore in the same period last year.

LIC earned a profit of ₹15,500 crore from its equity investments in Q1 FY25, marking a 13.5% increase quarter-on-quarter.

Detailed Explanation:

Life Insurance Corporation of India (LIC) plans to make fresh investments of approximately ₹1.30 trillion in equities during FY25.

In Q1 FY25 (April-June), LIC invested about ₹38,000 crore in shares, compared to ₹23,300 crore in the same period last year.

LIC earned a profit of ₹15,500 crore from its equity investments in Q1 FY25, marking a 13.5% increase quarter-on-quarter.

Market Value of Investments:As of June 30, 2024, the market value of LIC’s investments in stocks was around ₹15 trillion.

LIC holds investments in 282 companies as of June 30, 2024.

Assets Under Management (AUM):LIC’s AUM increased by 16.22% to ₹53,58,781 crore as of June 30, 2024, compared to ₹46,11,067 crore in the same quarter of the previous year.

Total Investment Growth:LIC’s total investments grew by ₹7,30,662 crore, from ₹42,44,852 crore in March 2023 to ₹49,75,514 crore by March 31, 2024.

The equity investment portfolio increased to ₹12,39,740 crore in FY24, up from ₹8,39,662 crore in FY23

Financial Performance (Q1 FY25):LIC reported a 10% increase in net profit to ₹10,461 crore in Q1 FY25, up from ₹9,544 crore in the year-ago period.

Total income increased to ₹2,10,910 crore during Q1 FY25, compared to ₹1,88,749 crore in the same quarter the previous year.

2) Answer: C

Short Explanation:

Bank of Baroda (BoB), Canara Bank, and UCO Bank have increased their Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across selected tenors following the Reserve Bank of India’s (RBI’s) monetary policy statement.

UCO Bank, based in Kolkata, also reduced the Treasury bill benchmark-linked rates by 5-15 basis points.

Detailed Explanation:

UCO Bank, based in Kolkata, also reduced the Treasury bill benchmark-linked rates by 5-15 basis points.

BoB and Canara Bank increased MCLR for six-month and one-year tenures, effective August 12,2024 while UCO Bank implemented the hike on August 10, 2024

One bps is 0.01 percentage point.

Recent MCLR Hikes:Bank of India raised its one-year MCLR by 5 bps, effective August 1, 2024.

The State Bank of India increased its MCLR by 5 to 10 bps across various tenures.

HDFC Bank and IDFC First Bank raised MCLR by an average of 5 bps in January 2024.

Impact on Bank Costs and Profitability:The cost of funds for banks is expected to rise by 25-30 bps in FY25, after having risen by around 140 bps since the start of the rate tightening cycle in May 2022, according to rating agency Crisil.

Deposit Growth Trends:In the June quarter of FY25, most banks experienced a slowdown in deposit growth by 1.15% on average.

Yes Bank’s deposits decreased by 0.75% to ₹2.64 lakh crore, and Bandhan Bank saw a 1.5% decline to ₹1.33 lakh crore.

3) Answer: C

Short Explanation:

NPCI International Payments Limited (NIPL), the international arm of National Payments Corporation of India (NPCI), is pleased to announce a landmark achievement of surpassing 100,000 cross-border Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal.

UPI is currently accepted in Bhutan, France (Eiffel Tower – Online, Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and UAE.

Detailed Explanation:

NIPL collaborated with Fonepay, Nepal’s largest payment network, to introduce cross-border P2M UPI acceptance in March 2024.

This milestone signifies a new era of digital payment connectivity and collaboration between the two neighbouring countries.

UPI is currently accepted in Bhutan, France (Eiffel Tower – Online, Galeries Lafayette), Mauritius, Nepal, Singapore, Sri Lanka, and UAE.

Real-Time Payments in India:According to ACI Worldwide, India accounted for 49% of the world’s real-time payments in 2023.

RuPay Card Expansion:NIPL has also collaborated with Nepal SBI Bank Limited (NSBL), to operationalise RuPay cards in Nepal.

UPI Growth:UPI (Unified Payments Interface) transactions grew by 45% year-on-year.

The total value of UPI transactions saw over a 35% increase, reaching ₹20.64 trillion.

For three consecutive months, total UPI transactions exceeded ₹20 trillion.

4) Answer: B

Short Explanation:

The government has instructed state-run banks to assist regional rural banks (RRBs) in upgrading their technology and onboarding them to the National Payment Corporation of India’s (NPCI) BASE platform, which facilitates the Direct Benefit Transfer (DBT) program.

Detailed Explanation:

In May 2024, National Bank For Agriculture And Rural Development (NABARD) asked all RRBs to update their Business Continuity Plans (BCPs) and include comprehensive risk-management strategies that cover financial, technological, and environmental risks.

The finance ministry has directed banks to ensure that RRBs are on boarded to NPCI’s Bharat Aadhaar Seeded Enabler (BASE) platform, which allows beneficiaries to check Aadhaar seeding status and conduct other digital transactions.

5) Answer: C

Short Explanation:

The National Payments Corporation of India (NPCI) is seeing significant growth in the use of its Unified Payments Interface (UPI) credit feature, with monthly transactions now reaching approximately Rs 10,000 crore.

ICICI Bank Leadership : ICICI Bank has emerged as the leader in providing pre-sanctioned credit limits on UPI, with around half a dozen other banks also introducing this facility for their customers.

Detailed Explanation:

Concerns Over Unsecured Loans : This development coincides with rising concerns over the rapid growth in unsecured loans, including credit cards and personal loans.

UPI Transaction Volume : UPI continues to be a widely used payment platform in India, recording 466 million transactions in July alone.

6) Answer: A

Short Explanation:

Karnataka Bank has started accepting GST payments through UPI mode.

Karnataka Bank is one of the first Banks to extend GST payment through UPI mode.

Maximum limit permitted under UPI mode is Rs 1.00 lakh and there is no upper limit in Internet Banking facility for GST payments.

Detailed Explanation:

Karnataka Bank has started accepting GST payments through UPI mode.

Karnataka Bank is one of the first Banks to extend GST payment through UPI mode.

All the GST-registered users, including Karnataka Bank customers, can make GST payment under this facility.

Karnataka Bank is already accepting GST payments through its branches and on Internet Banking facility on behalf of CBIC.

Maximum limit permitted under UPI mode is Rs 1.00 lakh and there is no upper limit in Internet Banking facility for GST payments.

7) Answer: C

Short Explanation:

The Drugs Controller General of India (DCGI), the top drug regulator in India, has developed standard operating procedures and guidelines to ensure traceability of pharmaceutical products throughout the supply chain, in response to the growing issue of counterfeit and spurious medicines.

The country’s pharmaceutical industry is expected to grow from its current value of $50 billion to $65 billion by the end of 2024 and is projected to reach $130 billion by 2030.

Detailed Explanation:

The guidelines, aligned with World Health Organization standards, are part of a broader effort to incorporate good distribution practices into the Drugs and Cosmetic Rules, 1945.

The guidelines emphasize the importance of maintaining proper storage conditions and documentation throughout the distribution process, from manufacturing to retail.

India hosts around 3,000 drug companies and 10,500 manufacturing units.

The country’s pharmaceutical industry is expected to grow from its current value of $50 billion to $65 billion by the end of 2024 and is projected to reach $130 billion by 2030.

8) Answer: D

Short Explanation:

BEML, a leading Indian manufacturer of rail coaches and spare parts, aims to enter the international market with its high-speed Vande Bharat trains and Metro trains, according to Shantanu Roy, BEML’s Chairman.

The company aims to increase the contribution of exports to 10% of its revenue, up from the current 4%.

Detailed Explanation:

BEML has been instrumental in manufacturing Vande Bharat trains, India’s first semi-high-speed, self-propelled trains, and has a significant role in producing Metro trains domestically.

The company aims to increase the contribution of exports to 10% of its revenue, up from the current 4%.

BEML operates in three key segments: mining and construction, defence, and rail and metro.

9) Answer: C

Short Explanation:

Delhi’s Lieutenant Governor (LG) VK Saxena announced that the Mughal-era Barapullah bridge in Nizamuddin has been handed over to the Archaeological Survey of India (ASI) for restoration.

The bridge, built during the reign of Mughal Emperor Jahangir in 1628, will undergo restoration over the next three months.

Detailed Explanation:

Delhi’s Lieutenant Governor (LG) VK Saxena announced that the Mughal-era Barapullah bridge in Nizamuddin has been handed over to the Archaeological Survey of India (ASI) for restoration.

The bridge, built during the reign of Mughal Emperor Jahangir in 1628, will undergo restoration over the next three months.

The bridge, named ‘Barapullah’ due to its 12 piers and 11 arches, was historically a wide, tree-lined path used by the Mughals.

10) Answer: D

Short Explanation:

India is on a trajectory to meet its ambitious defence export target of ₹50,000 crore within the next five years, according to officials from the Ministry of Defence.

Detailed Explanation:

India is on a trajectory to meet its ambitious defence export target of ₹50,000 crore within the next five years, according to officials from the Ministry of Defence.

Exports Achieved: ₹6,915 crore during April-June 2024.

Growth: This represents a 78% increase compared to ₹3,885 crore during the same period in the previous fiscal year (FY 2023-24).

Public Sector: 60% of total defence exports.

Private Sector: 40% of total defence exports.

FY 2023-24 Performance: Defence exports reached ₹21,000 crore, marking a 32.5% growth from the previous year’s ₹15,920 crore.

Export Destinations: India is exporting military hardware to approximately 85 countries.

Local Firms Involved: Around 100 Indian companies are contributing to this export effort.

11) Answer: B

Short Explanation:

Global youth unemployment rate dropped to 13% in 2023, the lowest in 15 years.

This is a decrease from 13.8% in 2019, before the COVID-19 pandemic.

Detailed Explanation:

Global youth unemployment rate dropped to 13% in 2023, the lowest in 15 years.

This is a decrease from 13.8% in 2019, before the COVID-19 pandemic.

The total number of unemployed young people (aged 15-24) worldwide is 64.9 million, the lowest since 2000.

The percentage of young people not in employment, education, or training (NEET) stood at 20.4% in 2023.

The global youth unemployment rate is projected to decline slightly to 12.8% in 2024.

12) Answer: D

Short Explanation:

Prime Minister Narendra Modi released 109 new high-yielding, climate-resilient, and biofortified crop varieties at the India Agricultural Research Institute, New Delhi.

Detailed Explanation:

Prime Minister Narendra Modi released 109 new high-yielding, climate-resilient, and biofortified crop varieties at the India Agricultural Research Institute, New Delhi.

The event also featured an interaction between the Prime Minister, farmers, and scientists.

The newly released varieties include 34 field crops and 27 horticultural crops, spanning cereals, millets, forage crops, oilseeds, pulses, sugarcane, cotton, fruits, vegetables, spices, flowers, and medicinal crops.

The crops are designed to be climate-resilient, reduce farmer expenditure, and contribute positively to environmental sustainability.

13) Answer: E

Short Explanation:

India’s first round-the-clock, 24/7 grain ATM, named Annapurti, was inaugurated at Mancheswar in Bhubaneswar, Odisha.

The initiative is a collaboration between the Odisha government and the World Food Programme.

Functionality:The Annapurti Grain ATM can dispense up to 50 kilograms of grain in five minutes.

Detailed Explanation:

India’s first round-the-clock, 24/7 grain ATM, named Annapurti, was inaugurated at Mancheswar in Bhubaneswar, Odisha.

The initiative is a collaboration between the Odisha government and the World Food Programme.

Functionality:The Annapurti Grain ATM can dispense up to 50 kilograms of grain in five minutes.

It has a low error rate of 0.01%.

Once biometric authentication is completed, it provides consistent access to the full food ration.

Design and Efficiency:The ATM has a modular design, making it easy to assemble in various locations.

It is energy efficient, using only 0.6 watts per hour and can be connected to solar panels for automatic refilling.

Impact:The ATM is expected to reduce waiting times by 70% and provide round-the-clock access to essential food supplies.

14) Answer: C

Short Explanation:

The Chhattisgarh government announced that it would establish a new tiger reserve and named it Guru Ghasidas-Tamor Pingla Tiger Reserve.

It is located in the northern part of Chhattisgarh, bordering Madhya Pradesh and Jharkhand.

This will be the 4th Tiger Reserve in Chhattisgarh.

Detailed Explanation:

The Chhattisgarh government announced that it would establish a new tiger reserve and named it Guru Ghasidas-Tamor Pingla Tiger Reserve.

It is located in the northern part of Chhattisgarh, bordering Madhya Pradesh and Jharkhand.

This will be the 4th Tiger Reserve in Chhattisgarh.

The existing tiger reserves in the state are:

Indravati (Bijapur district)

Udanti-Sitanadi (Gariaband district)

Achanakmar (Mungeli district

The tiger reserve spans 2,829 square kilometres across four northern districts of the state.

It combines the areas of Guru Ghasidas National Park and Tamor Pingla Wildlife Sanctuary.

Guru Ghasidas Park was originally part of the Sanjay Dubri National Park and became a separate entity in Chhattisgarh’s Sarguja region after the state’s formation in 2001.

Tiger Population Decline: Chhattisgarh’s tiger population has decreased from 46 in 2014 to 17 in 2022, as reported by the NTCA in July 2023.

Comparison with Other Reserves: Andhra Pradesh’s Nagarjunasagar Srisailam Tiger Reserve is the largest in India, covering 3,296.31 sq km.

Manas Tiger Reserve in Assam is the second largest with an area of 2,837.1 sq km, and both reserves host 58 tigers each.

15) Answer: B

Short Explanation:

The Indian Air Force (IAF) contingent has returned to India following a successful engagement in Exercise Udara Shakti 2024, a joint air exercise conducted in collaboration with the Royal Malaysian Air Force (RMAF).

The exercise took place from August 5th to 9th, 2024, at Kuantan, Malaysia.

IAF’s Participation: The IAF deployed its Su-30MKI fighter jets for the exercise.

Detailed Explanation:

The exercise took place from August 5th to 9th, 2024, at Kuantan, Malaysia.

IAF’s Participation: The IAF deployed its Su-30MKI fighter jets for the exercise.

These jets flew alongside RMAF’s Su-30MKM fighters in various air combat missions.

Objectives and Outcomes: The exercise aimed to enhance interoperability, commonality, and effectiveness in Su-30 aircraft operations between the IAF and RMAF.

The Sukhoi Su-30MKI is a multi-role combat fighter aircraft.

It is jointly developed by the Sukhoi Design Bureau and Hindustan Aeronautics Limited (HAL) specifically for the IAF.

16) Answer: B

Short Explanation:

The Paris Olympics 2024 marks the 33rd edition of the Summer Olympic Games and the third time Paris will host, previously hosted in 1900 and 1924.

This year’s theme, “Let’s Move and Celebrate,” emphasizes the joy of movement, commemorating a century since the last Paris Olympics.

Indian Athletes: A total of 117 athletes represented India, competing from July 26 to August 11.

Detailed Explanation:

The Paris Olympics 2024 marks the 33rd edition of the Summer Olympic Games and the third time Paris will host, previously hosted in 1900 and 1924.

This year’s theme, “Let’s Move and Celebrate,” emphasizes the joy of movement, commemorating a century since the last Paris Olympics.

The Phryges: Official mascots symbolizing the spirit and history of the Games.

Indian Contingent and Achievements

Indian Athletes: A total of 117 athletes represented India, competing from July 26 to August 11.

Medals Won: India secured six medals – one silver and five bronze.

17) Answer: C

Rank	NOCs	Gold Medals	Silver Medals	Bronze Medals	Total Medals
1	United States of America	40	44	42	126
2	People’s Republic of China	40	27	24	91
3	Japan	20	12	13	45
4	Australia	18	19	16	53
5	France	16	26	22	64
6	Netherlands	15	7	12	34
7	Great Britain	14	22	29	65
8	Republic of Korea	13	9	10	32
9	Italy	12	13	15	40
10	Germany	12	13	8	33
62	Pakistan	1	0	0	1
71	India	0	1	5	6

18) Answer: B

Short Explanation:

Thomas Bach, President of the International Olympic Committee (IOC), announced he will not seek an extension after his second term ends in 2025.

He succeeded Jacques Rogge as IOC president in 2013.

Detailed Explanation:

Thomas Bach, President of the International Olympic Committee (IOC), announced he will not seek an extension after his second term ends in 2025.

Bach, who has led the IOC since 2013, will conclude his presidency as per the Olympic charter’s 12-year term limit.

The Olympic charter, which Bach helped draft, restricts the IOC president to a maximum of 12 years: an eight-year first term followed by a four-year second term.

He succeeded Jacques Rogge as IOC president in 2013.

19) Answer: B

Short Explanation:

The Javelin Throw gold medallist in the ongoing Paris Olympics 2024, Pakistan’s Arshad Nadeem, is set to be honoured with Hilal-e-Imtiaz by the country’s government.

In recognition of his outstanding achievement, Arshad Nadeem is set to be honoured with the Hilal-e-Imtiaz, Pakistan’s second-highest civilian award.

Detailed Explanation:

The Javelin Throw gold medallist in the ongoing Paris Olympics 2024, Pakistan’s Arshad Nadeem, is set to be honoured with Hilal-e-Imtiaz by the country’s government.

Hilal-e-Imtiaz is the second-highest civilian award given by the Government of Pakistan and Nadeem will get this award following his brilliant performance in the final of the competition

Pakistan’s Arshad Nadeem won the gold medal in the Javelin Throw at the Paris 2024 Olympics, setting a new Olympic record with a throw of 92.97 meters.

In recognition of his outstanding achievement, Arshad Nadeem is set to be honoured with the Hilal-e-Imtiaz, Pakistan’s second-highest civilian award.

20) Answer: B

Short Explanation:

International Lefthanders Day 2024 is celebrated on the 13th of August every year worldwide.

The Left-Handers Club launched International Lefthanders Day as an annual event on the 13th of August, 1992.

Detailed Explanation:

International Lefthanders Day 2024 is celebrated on the 13th of August every year worldwide.

The day is observed to highlight the differences and uniqueness of left-handed people around the world.

In 1990, the Left-Handers Club was established to promote research in lefthand usage and the evolution of new left-handed items.

This club also keeps members from all over the world in touch with new developments.

The Left-Handers Club launched International Lefthanders Day as an annual event on the 13th of August, 1992.

This post was last modified on August 15, 2024 3:43 pm

4 months ago

Daily Current Affairs Quiz – 13th August 2024

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