Daily Current Affairs Quiz – 15th August 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 15th 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) Which bank launched the Primus Credit Card, a super premium option tailored for ultra-high-net-worth clients (UHNW)?

(a) HDFC bank

(b) Axis bank

(d) Federal bank

(e) DBS bank

2) Which organisation has declared its intention to become a wholly owned subsidiary of NBSL, formerly known as Bharat Interface for Money (BHIM)?

(a) NTPC

(b) NPCI

(d) SEBI

(e) CCI

3) According to IBBI, the Valuation report requires a unique ID Under IBC. Which of the following assertions is false?

(a) Effective from August 12, 2024, all valuation reports must include a unique Valuation Report Identification Number (VRIN)

(b) The VRIN must be prominently displayed on the front page of the valuation report.

(d) A unique identifier is assigned to each valuation report to ensure it can be tracked and verified.

(e) A new requirement for valuation reports under the Insolvency and Bankruptcy Code (IBC), 2016.

4) To commemorate the 78th Independence Day, RBL Bank has announced Vijay fixed deposits. The ‘Vijay Fixed Deposits’ provide a unique tenor of how many days for deposits under ₹3 crore?

(a) 300

(b) 400

(d) 600

(e) 700

5) Ather Energy has become a unicorn after receiving $71 million in investment from the NIIF. India currently has around _________ unicorns.

(a) 111

(b) 102

(d) 115

(e) 116

6) Indian Railways and the NCRTC have launched the ‘One India – One Ticket’ initiative for seamless travel. Each RRTS ticket generates a unique QR code, which is printed on the electronic reservation slip (ERS). How many days are QR codes valid?

(a) 3

(b) 2

(d) 4

(e) 5

7) Which country’s telecoms authority has awarded Elon Musk’s SpaceX satellite business, Starlink, a license to deliver satellite broadband services in the country?

(a) Bangladesh

(b) Srilanka

(d) Russia

(e) China

8) For Excellence in Civil Services Training and MSME Development, NI-MSME Awarded “UTKRISHT” Accreditation. Which city is the location of the NI-MSME?

(a) Chennai

(b) Kolkata

(d) Kochi

(e) Pune

9) Of the 28 projects with a combined capacity of 257 million tonnes (MT) that Coal India Limited (CIL) has now chosen for MDO implementation, how many were previously chosen with a capacity of 168 million tonnes (MT)?

(a) 15

(b) 17

(d) 19

(e) 21

10) As of now, Shri Rajeeva is the Executive Director of the Punjab & Sind Bank. Before being elevated to Executive Director, which bank employed him as Chief General Manager?

(a) SBI

(b) Canara bank

(d) Bank of Baroda

(e) Punjab & National bank

11) On August 31, Prime Minister Narendra Modi is scheduled to be the main guest at The Economic Times World Leaders Forum.In FY24, India’s GDP expanded by what percentage, despite the world economy experiencing stagnation, geopolitical unrest, and climatic crises?

(a) 8.2%

(b) 8.1%

(d) 8.4%

(e) 8.5%

12) DRDO successfully conducts the inaugural flight test of the Long Range Glide Bomb ‘GAURAV’ from the Su-30 MK-I platform off the Odisha coast. It was designed and developed by the Research Center Imarat (RCI) in which city?

(a) Chennai

(b) Kolkata

(d) Bengaluru

(e) Mumbai

13) A substantial subterranean water reservoir on Mars has been discovered by geophysicists utilizing seismic data obtained from NASA’s Insight lander. Which of the following is untrue?

(a) The reservoir is trapped within the mid-crust of Mars, located between 11.5 and 20 kilometers below the surface.

(b) Seismic activity data from NASA’s Insight lander was used to estimate the amount of groundwater.

(d) The water is trapped in tiny cracks and pores in rock deep within the Martian crust.

(e) All are true

14) SAMEER Provides Industry Partners with Microwave-Based BRIX Measurement Technology for Large-Scale Manufacturing. Which city had the BRIX technology tested in the Shri Sant Tukaram Sugar Factory and verified by the Vasant Dada Sugar Institute?

(a) Chennai

(b) Kolkata

(d) Bengaluru

(e) Pune

15) Which nation signs an agreement with India to increase MSME participation in international markets?

(a) UK

(b) USA

(d) Russia

(e) UAE

16) An agreement has been made between the Assam government and Prasar Bharati to create and air a documentary series consisting of ________ episodes about the renowned Ahom General Lachit Borphukan.

(a) 31

(b) 52

(d) 53

(e) 55

17) Indian Cotton Sector Labor Issues are Addressed by CITI and ILO Together. It is concentrated on ________ Indian states’ small- and medium-sized farmers and agricultural laborers.

(a) 10

(b) 9

(d) 13

(e) 15

18) IG Drones and IIT Bhubaneswar Work Together to Create the Advanced Drone Excellence Center for Disaster Management. Since what year are IG drones being used for disaster management?

(a) 2017

(b) 2018

(d) 2020

(e) 2021

19) Which legendary cricket player is venturing into the realm of business by establishing a fresh sports athleisure label?

(a) Virat Kohli

(b) Sachin Tendulkar

(d) Sourav Ganguly

(e) Rahul Dravid

20) Rail Vikas Nigam Ltd. (RVNL) was included to the MSCI Global Standard Index, which is a subset of the MSCI India Index. What company was taken off from the MSCI India Index?

(a) Dixon Technologies

(b) Prestige Estates

(d) Zydus Lifesciences

(e) Bandhan Bank

Answers :

1) Answer: B

Short Explanation:

Axis Bank has introduced the Primus Credit Card, a super premium offering designed for ultra-high-net-worth individuals (UHNW).

The Primus Credit Card is available by invitation only, and cannot be applied for.

It was launched at the ‘Axis Bank PRIMUS Soiree’ in New Delhi and Mumbai, attended by elite corporate leaders and celebrities.

Detailed Explanation:

Axis Bank has introduced the Primus Credit Card, a super premium offering designed for ultra-high-net-worth individuals (UHNW).

The Primus Credit Card is available by invitation only, and cannot be applied for.

It was launched at the ‘Axis Bank PRIMUS Soiree’ in New Delhi and Mumbai, attended by elite corporate leaders and celebrities.

Annual Fee: ₹1.80 lakh

Interest Rate: 1% per month (12.68% annually)

Zero Charges: No cash withdrawal charges, late payment fees, over-limit penalties, or forex charges.

Fuel Surcharge Waiver: 1% on transactions between ₹400 and ₹10,000 per statement cycle.

Additional Benefits: No reward redemption fee, zero dynamic currency conversion markup, and no rent transaction fee.

2) Answer: B

Short Explanation:

The National Payments Corporation of India (NPCI) has announced the incorporation of NPCI BHIM Services Ltd (NBSL), formerly known as Bharat Interface for Money (BHIM), as a wholly owned subsidiary.

Detailed Explanation:

The move is intended to address the growing demand for digital transactions and evolving market expectations.

NBSL will focus on promoting financial inclusion and enhancing India’s digital payment ecosystem.

NPCI’s incorporation of NBSL underscores its dedication to facilitating digital payments and advancing financial inclusivity both within India and internationally.

3) Answer: C

Short Explanation:

The Insolvency and Bankruptcy Board of India (IBBI) has introduced a new requirement for valuation reports under the Insolvency and Bankruptcy Code (IBC), 2016.

Effective from August 12, 2024, all valuation reports must include a unique Valuation Report Identification Number (VRIN).

Detailed Explanation:

The Insolvency and Bankruptcy Board of India (IBBI) has introduced a new requirement for valuation reports under the Insolvency and Bankruptcy Code (IBC), 2016.

Effective from August 12, 2024, all valuation reports must include a unique Valuation Report Identification Number (VRIN).

Generation of VRIN: Registered Valuers (RVs) or Registered Valuer Entities (RVEs) must generate a unique VRIN before submitting any valuation report.

Mandatory Mention: The VRIN must be prominently displayed on the front page of the valuation report.

Compliance for Insolvency Professionals (IPs): IPs are required to reject any valuation report that does not include a VRIN.

Integrity and Traceability: The VRIN will enhance the authenticity and traceability of valuation reports, improving the overall integrity of the insolvency resolution process.

Global Best Practices: This move aligns with international standards in the insolvency and bankruptcy domain.

A unique identifier is assigned to each valuation report to ensure it can be tracked and verified.

Generated through an online module on the IBBI’s website, using existing credentials.

4) Answer: C

Short Explanation:

RBL Bank has introduced the Special Edition of ‘Vijay Fixed Deposits,’ designed to honor the 78^th year of independence and appreciate service members.

The ‘Vijay Fixed Deposits’ feature a distinctive 500-day tenor for deposits under ₹3 crore.

Detailed Explanation:

RBL Bank has introduced the Special Edition of ‘Vijay Fixed Deposits,’ designed to honor the 78^th year of independence and appreciate service members.

The ‘Vijay Fixed Deposits’ feature a distinctive 500-day tenor for deposits under ₹3 crore.

This special edition offers competitive interest rates tailored for different customer segments.

Super Senior Citizens: 8.85% p.a.

Senior Citizens: 8.60% p.a.

Regular Fixed Deposit: 8.1% p.a.

5) Answer: D

Short Explanation:

Ather Energy, an electric two-wheeler manufacturer, has secured $71 million in a new funding round led by the National Investment and Infrastructure Fund (NIIF), taking its valuation to $1.3 billion, making it a unicorn.

Ather is one of the startups that have joined the unicorn club in the past eight months, alongside Porter, AI startup Krutrim, and B2B SaaS company Perfios.

India now has approximately 115 unicorns excluding Ather .

Detailed Explanation:

The company has been actively raising funds since late 2023.

Ather Energy was founded in 2013 by IIT Madras graduates Tarun Mehta and Swapnil Jain.

The company is backed by HeroMoto Corp, Tiger Global, and GIC, and has sold over 1.73 lakh electric scooters to date.

Ather is one of the top four electric scooter manufacturers in India, alongside Ola Electric, TVS, and Bajaj Auto.

Ather is one of the startups that have joined the unicorn club in the past eight months, alongside Porter, AI startup Krutrim, and B2B SaaS company Perfios.

India now has approximately 115 unicorns excluding Ather

6) Answer: D

Short Explanation:

The Indian Railways and the National Capital Region Transport Corporation (NCRTC) have launched the ‘One India – One Ticket’ initiative to enhance passenger travel experience using mainline railways and Namo Bharat trains.

A unique QR code is generated for each RRTS ticket, printed on the electronic reservation slip (ERS).

QR codes are valid for four days: the day before, the day of, and two days after the RRTS journey date.

Detailed Explanation:

Passengers can now book both Indian Railways and Namo Bharat train tickets through the IRCTC platform.

The initiative allows passengers to book up to eight Namo Bharat train tickets as an add-on service when booking an IRCTC train e-ticket.

RRTS (Rapid Rail Transit System) booking options are available on the PNR confirmation page and the user’s ticket booking history.

A unique QR code is generated for each RRTS ticket, printed on the electronic reservation slip (ERS).

QR codes are valid for four days: the day before, the day of, and two days after the RRTS journey date.

Namo Bharat tickets share the same origin and destination stations for all passengers booked under a single train ticket.

Tickets can be booked up to 120 days in advance, aligning with the railway reservation window (ARP).

7) Answer: B

Short Explanation:

Sri Lanka’s telecommunications regulator has granted a license to Elon Musk’s Starlink, the satellite unit of SpaceX, to provide satellite broadband services in the country.

Sri Lanka’s parliament recently passed a new telecommunications bill, the first amendment in 28 years, enabling Starlink Lanka to enter the market.

Detailed Explanation:

Sri Lanka’s telecommunications regulator has granted a license to Elon Musk’s Starlink, the satellite unit of SpaceX, to provide satellite broadband services in the country.

Sri Lanka’s parliament recently passed a new telecommunications bill, the first amendment in 28 years, enabling Starlink Lanka to enter the market.

The new legislation paves the way for modernized telecommunications services in the country.

Starlink approached Sri Lanka in March with a proposal to establish operations.

The company will be required to pay a tariff for the license.

SpaceX’s Starlink dominates the satellite internet industry, owning around 60% of the approximately 7,500 satellites orbiting Earth.

8) Answer: C

Short Explanation:

The Hyderabad’s National Institute for MSME (NI-MSME), under the Ministry of MSME, Government of India, has been awarded the Accreditation Certificate for successfully meeting the National Standards for Civil Services Training Institutions (NSCSTI).

The institute received this prestigious recognition for its outstanding services in promoting and developing MSMEs.

Detailed Explanation:

The institute received this prestigious recognition for its outstanding services in promoting and developing MSMEs.

NI-MSME has trained over 5.71 lakh participants through 16,902 programs for government officials.

Since 1967, NI-MSME has trained 11,019 international executives from 145 developing countries under the ITEC Scheme of the Ministry of External Affairs.

NI-MSME received the “UTKRISHT” (3 Star) Accreditation Certificate for excellence in civil services training.

9) Answer: A

Short Explanation:

The government has identified 28 coal mining projects to be operated through mining developers-cum-operators (MDOs), with 18 mines already awarded to leading private companies.

Coal India Limited (CIL) initially selected 15 projects with a capacity of 168 million tonnes (MT) for MDO implementation, which has now expanded to 28 projects with a total capacity of 257 MT.

Detailed Explanation:

The government has identified 28 coal mining projects to be operated through mining developers-cum-operators (MDOs), with 18 mines already awarded to leading private companies.

The initiative aims to boost coal production by enhancing operational efficiency, streamlining processes, and reducing costs.

MDOs are responsible for the entire mining process, including excavation, extraction, and coal delivery to CIL, as per approved mining plans.

The selection of MDOs through global tenders is expected to modernize mining practices and improve productivity in the coal sector.

10) Answer: E

Short Explanation:

Shri Rajeeva has been appointed as the Executive Director of Punjab & Sind Bank for a period of three years, effective immediately or until further orders, whichever is earlier.

Before his elevation to Executive Director, Shri Rajeeva served as the Chief General Manager of Punjab National Bank (PNB)

Detailed Explanation:

Shri Rajeeva has been appointed as the Executive Director of Punjab & Sind Bank for a period of three years, effective immediately or until further orders, whichever is earlier.

Before his elevation to Executive Director, Shri Rajeeva served as the Chief General Manager of Punjab National Bank (PNB).

Shri Rajeeva holds a postgraduate degree in Arts and an MBA in Banking & Finance.

He is a Certified Associate of the Indian Institute of Bankers (CAIIB).

He joined Punjab National Bank in 1993 and has accumulated over three decades of banking experience.

11) Answer: A

Short Explanation:

Prime Minister Narendra Modi will be the chief guest at The Economic Times World Leaders Forum on August 31 in New Delhi.

India’s economy grew by 8.2% in FY24, even as the global economy faces stagnation, geopolitical tensions, and climate crises.

Detailed Explanation:

Prime Minister Narendra Modi will be the chief guest at The Economic Times World Leaders Forum on August 31 in New Delhi.

The inaugural edition of the ET World Leaders Forum will focus on “Leadership for Global Prosperity,” offering a platform for global investors, policymakers, business leaders, and entrepreneurs to engage in dialogue on opportunities arising from India’s rapid economic progress.

India’s economy grew by 8.2% in FY24, even as the global economy faces stagnation, geopolitical tensions, and climate crises.

Following his historic third-term win, PM Modi will address over 400 business leaders, entrepreneurs, investors, and policymakers.

12) Answer: C

Short Explanation:

DRDO successfully conducted the maiden flight test of the Long Range Glide Bomb (LRGB), GAURAV, from the Su-30 MK-I platform of the Indian Air Force (IAF).

Designed and developed by Research Centre Imarat (RCI), Hyderabad.

Air-launched 1,000 kg class glide bomb.

Detailed Explanation:

DRDO successfully conducted the maiden flight test of the Long Range Glide Bomb (LRGB), GAURAV, from the Su-30 MK-I platform of the Indian Air Force (IAF).

Test conducted off the coast of Odisha.

Air-launched 1,000 kg class glide bomb.

Capable of hitting targets at long distances.

Uses a highly accurate hybrid navigation scheme with INS and GPS data.

Designed and developed by Research Centre Imarat (RCI), Hyderabad.

GAURAV hit the target with pinpoint accuracy.

Complete flight data captured by telemetry and electro-optical tracking systems.

Test monitored by senior DRDO scientists.

Adani Defence and Bharat Forge, Development cum Production Partners, were involved in the flight trial.

13) Answer: E

Short Explanation:

Geophysicists using seismic data from NASA’s Insight lander have uncovered a large underground water reservoir on Mars.

The reservoir is trapped within the mid-crust of Mars, located between 11.5 and 20 kilometers below the surface.

This finding challenges previous theories that most of Mars’ water escaped into space.

Detailed Explanation:

Geophysicists using seismic data from NASA’s Insight lander have uncovered a large underground water reservoir on Mars.

The reservoir is trapped within the mid-crust of Mars, located between 11.5 and 20 kilometers below the surface.

This finding challenges previous theories that most of Mars’ water escaped into space.

The discovery suggests that Mars’ water was absorbed into its crust, potentially altering the understanding of the planet’s aridity.

Seismic activity data from NASA’s Insight lander was used to estimate the amount of groundwater.

The water could cover the entire planet to a depth of 1 to 2kilometers.

While this reservoir provides new knowledge about Martian water, its depth makes it impractical for future Mars colonies to access.

The water is trapped in tiny cracks and pores in rock deep within the Martian crust.

14) Answer: E

Short Explanation:

This agreement focuses on producing the Microwave-based in-situ BRIX measurement system, known as the Sugar COntent MeasuREment (SCORE) system.

The BRIX technology underwent testing at Shri Sant Tukaram Sugar Factory in Pune and was validated by Vasant Dada Sugar Institute, Pune.

Detailed Explanation:

The Society for Applied Microwave Electronics Engineering & Research (SAMEER), an R&D institute under the Ministry of Electronics and Information Technology (MeitY), Government of India, has signed a significant Transfer of Technology (ToT) agreement with Toshniwal Hyvac Pvt. Ltd. and Sir Automation Industries.

This agreement focuses on producing the Microwave-based in-situ BRIX measurement system, known as the Sugar COntent MeasuREment (SCORE) system.

The BRIX technology underwent testing at Shri Sant Tukaram Sugar Factory in Pune and was validated by Vasant Dada Sugar Institute, Pune.

15) Answer: B

Short Explanation:

India and the U.S. signed a Memorandum of Understanding (MoU) to enable Micro, Small, and Medium Enterprises (MSMEs) from both countries to participate more effectively in global markets, drive innovation, and foster trade.

The MoU aims to support MSMEs, including women entrepreneurs, in accessing global markets and expanding their business opportunities.

Detailed Explanation:

The MoU aims to support MSMEs, including women entrepreneurs, in accessing global markets and expanding their business opportunities.

Women Entrepreneurs: The MoU includes joint programs to empower women entrepreneurs and facilitate trade partnerships between women-owned small businesses in India and the U.S.

Digital Platform: The agreement includes plans to develop a “Business Matching Digital Platform” to enhance business opportunities for MSMEs in both countries.

16) Answer: B

Short Explanation:

The Assam government has signed a Memorandum of Understanding (MoU) with Prasar Bharati to produce and broadcast a 52-episode documentary series on the legendary Ahom General Lachit Borphukan.

This series will be available on Prasar Bharati’s platforms, including Akashwani and Doordarshan, as well as its digital services, Prasar Bharati News Services (PBNS).

Detailed Explanation:

This series will be available on Prasar Bharati’s platforms, including Akashwani and Doordarshan, as well as its digital services, Prasar Bharati News Services (PBNS).

The documentary series aims to explore the life and achievements of Lachit Borphukan, a general of the Royal Army of the Ahom Kingdom.

It will highlight Borphukan’s strategic brilliance, courage, and lasting legacy, particularly focusing on his role in the Battle of Saraighat in 1671.

Lachit Borphukan is celebrated for inspiring Assamese soldiers to a decisive victory against the Mughal forces at the Battle of Saraighat.

The battle is considered one of India’s most inspiring military feats of resistance.

17) Answer: C

Short Explanation:

The Confederation of Indian Textile Industry (CITI) and the International Labour Organisation (ILO) have launched a joint project to address labor challenges in the Indian cotton industry, focusing on eliminating child and forced labor.

Focus on small and medium farmers and farm workers across 11 Indian states.

Detailed Explanation:

Project Name:Promoting Fundamental Principles and Rights at Work (FPRW).

Target Audience:

6.5 million cotton farmers.

Focus on small and medium farmers and farm workers across 11 Indian states.

The U.S. Labor Department’s list includes Indian cotton and hybrid cotton seeds under goods produced by child or forced labor, prompting this initiative.

18) Answer: C

Short Explanation:

IIT Bhubaneswar has partnered with IG Drones, a leading drone-tech and AI company, to establish an Advanced Drone Excellence Centre at the IIT Bhubaneswar Research and Entrepreneurship Park.

Active in disaster management since 2019.

Detailed Explanation:

IIT Bhubaneswar has partnered with IG Drones, a leading drone-tech and AI company, to establish an Advanced Drone Excellence Centre at the IIT Bhubaneswar Research and Entrepreneurship Park.

The centre will concentrate on drone technology for disaster management.

Aims to improve drone capabilities for responding to natural calamities in disaster-prone areas.

Active in disaster management since 2019.

Experience includes work in:

Uttarakhand’s avalanche-affected regions

Sikkim’s landslide areas

Odisha’s cyclone-prone regions

The centre will occupy a 2000 sq ft space equipped with necessary facilities for R&D.

19) Answer: B

Short Explanation:

Sachin Tendulkar, the iconic cricketer, is stepping into the world of entrepreneurship by launching a new sports athleisure brand.

This venture is a joint effort with Karthik Gurumurthy, the former head of Swiggy Instamart, and former Swiggy executive Karan Arora, who will be the third co-founder.

Detailed Explanation:

Sachin Tendulkar, the iconic cricketer, is stepping into the world of entrepreneurship by launching a new sports athleisure brand.

This venture is a joint effort with Karthik Gurumurthy, the former head of Swiggy Instamart, and former Swiggy executive Karan Arora, who will be the third co-founder.

A holding company, SRT10 Athleisure Pvt Ltd, has been registered for the venture.

Tendulkar and Whiteboard Capital are on the board of directors.

The startup is preparing to raise capital from a prominent venture capital fund.

The demand for sports goods and health and fitness awareness is at an all-time high in India.

The sports goods market is dominated by shoes (60% of sales) and apparel (30%).

Tendulkar is also involved in the menswear brand True Blue in collaboration with Arvind Fashions, with plans for global expansion.

20) Answer: E

Short Explanation:

Rail Vikas Nigam Ltd. (RVNL)Added to the MSCI India Index, part of the MSCI Global Standard Index.

Bandhan Bank: Removed from the MSCI India Index.

Detailed Explanation:

Rail Vikas Nigam Ltd. (RVNL)Added to the MSCI India Index, part of the MSCI Global Standard Index.

Other New Additions: Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial, and Zydus Lifesciences.

Bandhan Bank: Removed from the MSCI India Index.

MSCI India Domestic Index:

New Additions: Bosch, PB Fintech, alongside the aforementioned stocks.

Other Inclusions: Inox Wind Energy, Inox Green Energy Services, Shakti Pumps, Aurionpro Solutions, Gulf Oil Lubricants.

Exclusions: Cochin Shipyard, IREDA, JP Associates, PB Fintech, Phoenix Mills, and RVNL.

This post was last modified on August 15, 2024 5:02 pm

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Daily Current Affairs Quiz – 15th August 2024

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