Daily Current Affairs Quiz – 15th March 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 15th March 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) India is the world’s second-largest gold consumer, following which country relies largely on imports to meet domestic demand?

(a) USA

(b) Japan

(d) China

(e) UK

2) Which bank and South Indian bank has been directed by the Reserve Bank of India to halt the issuance of new co-branded credit cards?

(a) Indian bank

(b) YES bank

(d) HDFC bank

(e) ICICI bank

3) Which organization and Pharmaceutical & Medical Devices Bureau of India ink Memorandum of Understanding to offer credit support to Jan Aushadhi Kendras?

(a) SIDBI

(b) SEBI

(d) NABARD

(e) ADB

4) Union Minister Piyush Goyal has declared that the RoDTEP scheme will be expanded to include new export sectors in New Delhi. When was the RoDTEP scheme launched?

(a) 2020

(b) 2019

(d) 2022

(e) 2023

5) Nitin Gadkari announced an allocation of Rs 972.80 crores to widen and improve how many major district roads and State Highways in Rajasthan?

(a) 30

(b) 31

(d) 33

(e) 35

6) Which country’s constitution includes the freedom to abortion as the globe commemorates International Women’s Day?

(a) Japan

(b) Canada

(d) France

(e) Australia

7) Kerala declares man-animal conflict a state-specific disaster. Which state designated snakebite a statewide disaster in 2015?

(a) Sikkim

(b) Odisha

(d) Bihar

(e) Assam

8) Which state’s traditional Majuli masks have been designated as Geographical Indications (GIs) by the Centre?

(a) Sikkim

(b) Odisha

(d) Bihar

(e) Assam

9) The Government of India and the Asian Development Bank (ADB) inked a loan arrangement of how many million dollars to improve fintech education, research, and innovation at GIFT-City?

(a) $21million

(b) $20million

(d) $23million

(e) $24million

10) India and which country have signed a Memorandum of Understanding (MoU) for cooperation in Law and Dispute Resolution?

(a) Mauritius

(b) Singapore

(d) France

(e) Germany

11) DGFT teamed with DHL, a worldwide logistics service provider, by signing a Memorandum of Understanding (MoU) that will cover how many districts in three phases?

(a) 72

(b) 74

(d) 78

(e) 70

12) In February 2024, India’s retail inflation fell to what percentage point on an annual basis?

(a) 5.02%

(b) 5.10%

(d) 5.08%

(e) 5.09%

13) The National Stock Exchange (NSE) announced that its board has approved what percentage reduction in overall transaction charges across cash equity?

(a) 2%

(b) 1%

(d) 3%

(e) 1.5%

14) Leo Puri Appointed as Adviser and Chairman of Apax Partners India Division. Where is Apax Partners’ headquarters?

(a) UK

(b) USA

(d) Japan

(e) Australia

15) Anita Sudhir Pai and Neeta Mukerji have been appointed as independent directors of which payment bank?

(a) Airtel Payments bank

(b) Fino Payments bank

(d) Jio Payments bank

(e) IPPB Payments bank

16) Instir, Flagship of the First Training Squadron, participates in Exercise Cutlass Express 2024 in Port Victoria, Seychelles, from February 26th to March 8th, 2024. Since which year has the Indian Navy participated in the exercise?

(a) 2018

(b) 2017

(d) 2016

(e) 2015

17) Which day of March is commemorated annually as World Kidney Day?

(a) Third Monday

(b) First Saturday

(d) Second Tuesday

(e) First Wednesday

18) In which year did the World Sleep Day Committee of the World Sleep Day Society establish World Sleep Day?

(a) 2002

(b) 2004

(d) 2008

(e) 2010

19) When was the global celebration of World Consumer Rights Day observed?

(a) March 12

(b) March 13

(d) March 15

(e) March 16

20) When was Fino Payments Bank established?

(a) 2012

(b) 2014

(d) 2017

(e) 2016

Answers :

1) Answer: D

Gold Import Scenario in India:India is the world’s second-largest consumer of gold after China, heavily relying on imports to meet domestic demand. The country’s gold imports in January 2024 amounted to $1.9 billion, contributing to cumulative imports of $37.85 billion from April to January in FY24.

Detailed Explanation:

The Indian government has announced that gold imported by the Reserve Bank of India (RBI) will be exempted from import duty and Agriculture Infrastructure Development Cess (AIDC). This exemption aims to facilitate the import of gold by the RBI for various purposes without incurring additional taxes. Import Duty and AIDC: Typically, the import of gold attracts a 15%import duty, which includes a 5% AIDC. Tax Adjustment in January: In January, the government raised the import duty on gold and silver findings and coins of precious metals from 11% to 15%. This adjustment was made to eliminate tax advantages associated with importing gold and silver in finding form rather than in bars. Gold Import Scenario in India:India is the world’s second-largest consumer of gold after China, heavily relying on imports to meet domestic demand. The country’s gold imports in January 2024 amounted to $1.9 billion, contributing to cumulative imports of $37.85 billion from April to January in FY24.

2) Answer: C

Detailed Explanation:

Following the directions by the Reserve Bank of India (RBI), private sector lenders Federal Bank and South Indian Bank stopped issuing co-branded credit cards to new customers on account of regulatory deficiencies. Both banks are taking steps to ensure compliance with the RBI’s directives. South Indian Bank stated that it will refrain from onboarding new customers for its co-branded credit cards until full compliance is achieved with the RBI’s Master Direction on Credit Card and Debit Card issuance. Existing Customer Servicing: Despite the halt in new issuances, both banks have affirmed their commitment to servicing existing customers who hold co-branded credit cards. Co-Branding Arrangements: The RBI’s directive, outlined in its Master Direction, emphasizes the need for clarity in co-branding arrangements. Co-branded cards must explicitly state the issuing bank and prevent the co-branding partner from marketing the card as its own product. Marketing Guidelines: Marketing and advertising materials for co-branded cards should prominently display the name of the card issuer, in accordance with the RBI’s guidelines. Federal Bank’s Response: Federal Bank, in response to the RBI’s communication, has halted the issuance of new co-branded credit cards to address regulatory concerns. The bank is working to rectify these areas of concern. Co-Branded Cards Offered: South Indian Bank offers a co-branded credit card in partnership with State Bank of India (SBI), available in two variants: SimplySAVE and Platinum. Federal Bank offers 3 co-branded credit cards: Federal Onecard, Federal Scapia, and Federal FI.

3) Answer: A

Detailed Explanation:

The Small Industries Development Bank of India (SIDBI) has signed a memorandum of understanding (MoU) with the Pharmaceutical & Medical Devices Bureau of India (PMBI) to provide term loan and working capital credit to Jan Aushadhi Kendras (JAKs) being set up by aspiring entrepreneurs. JAKs are administered by PMBI, Department of Pharmaceuticals, Ministry of Health & Family Welfare and Chemicals & Fertilizers and they provide generic medicines to citizens at affordable prices under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP). There are more than 10000 operational JAK stores and the Hon’ble Prime Minister has announced an ambitious plan to open an additional 15000 new JAK stores over the next 2 years. SIDBI has leveraged its GST Sahay application to provide invoice-based working capital to JAKs and its Prayaas platform to provide project term loans for setting up new JAK stores. Dr. Mansukh Mandaviya, Union Minister for Chemicals & Fertilizers and Health & Family Welfare launched a website for credit assistance to Jan Aushadhi Kendras: https://jak-prayaasloans.sidbi.in/home.He highlighted the substantial growth of Jan Aushadhi Kendras, from a mere 80 units in 2014 to approximately 11,000 operational units nationwide. These Kendras, referred to as ‘Sanjeevani’ for the poor by Prime Minister Modi, serve as vital healthcare lifelines for both rural and urban populations. The credit assistance program, relying on GST and India’s Digital Public Infrastructure (DPI), offers unsecured working capital loans for small businesses, addressing their financing needs and ensuring sustainability and growth.

4) Answer: C

RoDTEP full form is Remission of Duties and Taxes on Exported Products. It was announced in 2019 and launched on 1st January 2021 by the Ministry of Commerce and Industry. Under this scheme, the exports will get the refund of embedded central, state, and local duties or taxes that were not rebated or refunded yet.

Detailed Explanation:

Union Minister of Commerce and Industry Piyush Goyal announced the extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi. He also announced the extension of the RoDTEP Scheme support to additional export sectors like Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones (SEZ) export units. This decision comes in recognition of the significant contribution these sectors make to India’s Exports, constituting approximately 25 percent of exports. Amidst global economic uncertainties and supply chain disruptions, extending RoDTEP to the uncovered sectors such as AA, EOU, and SEZ units will help the exporting community in handling the international headwinds. The RoDTEP Scheme is a key initiative by the Government of India aimed at refunding various embedded taxes and duties on exported products.

5) Answer: B

Union Minister for Road Transport & Highways Nitin Gadkari announced that an outlay of Rs 972.80 crore has been sanctioned for widening and strengthening work of 31 major district roads and State Highways in Rajasthan. Another Rs 384.56 crore has also been sanctioned for the construction work of seven rail overbridges, underbridges, flyovers in various districts under Setu Bandhan Yojana.

Detailed Explanation:

Under the Central Road & Infrastructure Fund (CRIF) Scheme, the Ministry allocates funds to State Governments and Union Territories (UTs) for the development and maintenance of State and Roads. The development of road infrastructure in the state is aimed at promoting economic development in the region and will also give a push to tourism in the state. The announcement for Rajasthan comes close on the heels of similar allocations under the CRIF scheme to Karnataka and Telangana various districts under the CRIF Setu Bandhan Yojana.

6) Answer: D

Detailed Explanation:

France inscribed the guaranteed right to abortion in its constitution, a powerful message of support for women’s rights on International Women’s Day (March 08, 2024). Justice Minister Eric Dupond-Moretti used a 19th-century printing press to seal the amendment in France’s constitution at a special public ceremony. Applause filled the Place Vendome. In January 2024, France’s Parliament had passed an amendment to provide constitutional validity to the right to abortion. Abortion, although legal in France since 1975, has now been a “guaranteed freedom” for women.

7) Answer: B

Amid repeated deaths from animal attacks and rising anger over them, Kerala declared man-animal conflict as a state-specific disaster, becoming the first state in the country to do so.

In each district, the district collector serves as the head of the district disaster management authority and also acts as the executive magistrate. Previous Declarations: In 2015, Odisha had declared snakebite a state-specific disaster. In 2020, Kerala declared Covid as a state specific disaster. Besides, heat waves, sunburn and sunstroke have been declared so in 2019, the phenomenon of soil piping in 2017, and lightning and coastal erosion in 2015.

Detailed Explanation:

Amid repeated deaths from animal attacks and rising anger over them, Kerala declared man-animal conflict as a state-specific disaster, becoming the first state in the country to do so.

At present, managing man-animal conflict is the responsibility of the forest department, which acts as per the Wild Life Protection Act. Shift in Responsibility: With the declaration of man-animal conflict as a state-specific disaster, the responsibility for addressing the issue shifts to the state disaster management authority. This authority can take faster and more decisive action under the Disaster Management Act. Leadership at State Level: The Chief Minister serves as the ex officio chairman of the state disaster management authority, and various departments, including the forest department, are involved as stakeholders. District Level Management: In each district, the district collector serves as the head of the district disaster management authority and also acts as the executive magistrate. Previous Declarations: In 2015, Odisha had declared snakebite a state-specific disaster. In 2020, Kerala declared Covid as a state specific disaster. Besides, heat waves, sunburn and sunstroke have been declared so in 2019, the phenomenon of soil piping in 2017, and lightning and coastal erosion in 2015.

8) Answer: E

Detailed Explanation:

The traditional Majuli masks in Assam were given a Geographical Indication (GI) tag by the Centre. Majuli manuscript painting also got the GI label. Majuli, the largest river island in the world and the seat of Assam’s neo-Vaishnavite tradition, has been home to the art of mask-making since the 16th century. The handmade masks are traditionally used to depict characters in bhaonas, or theatrical performances with devotional messages under the neo-Vaishnavite tradition, introduced by the 15th-16th century reformer saint Srimanta Sankardeva. The masks can depict gods, goddesses, demons, animals and birds — Ravana, Garuda, Narasimha, Hanuman, Varaha Surpanakha all feature among the masks. The masks are made of bamboo, clay, dung, cloth, cotton, wood and other materials available in the riverine surroundings of their makers.

9) Answer: D

The Government of India and the Asian Development Bank (ADB) signed a $23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT-City). GIFT City is an initiative of the Government of India and the State Government of Gujarat to foster India’s financial services and fintech ecosystem.

Detailed Explanation:

The Government of India and the Asian Development Bank (ADB) signed a $23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT-City). The signatories to the loan agreement for Promoting Research and Innovation through Development of Fintech Institute at GIFT-City Project were Ms Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Mr Rajesh Vasudevan, Officer-in-Charge of ADB’s India Resident Mission, for ADB. GIFT City is an initiative of the Government of India and the State Government of Gujarat to foster India’s financial services and fintech ecosystem. After signing the loan agreement, this project will establish an International Fintech Institute (IFI) to strengthen fintech education, boost start-up success rates, and drive fintech research and innovation. The ADB programme will support research on innovative solutions and technologies in climate fintech, regulatory technology, social inclusion, and gender equality in finance. The project will help establish a state fintech readiness index and develop new solutions to emerging technologies.

10) Answer: B

India and Singapore have signed a Memorandum of Understanding (MoU) on cooperation between the two countries in the sphere of Law & Dispute Resolution.

Detailed Explanation:

India and Singapore have signed a Memorandum of Understanding (MoU) on cooperation between the two countries in the sphere of Law & Dispute Resolution.

The Memorandum of Understanding was signed in a virtual meeting of the Minister of State for Law and Justice (I/C), Government of India, Shri Arjun Ram Meghwal for the Indian side and the Minister for Culture, Community and Youth and Second Minister for Law, Government of Singapore, Mr. Edwin Tong for the Singapore side. The Memorandum of Understanding is on further cooperation between the two countries in the areas of common interest such as international commercial dispute resolution; matters relating to the promotion of robust alternative dispute resolution mechanisms in respective countries and the establishment of a Joint Consultative Committee to oversee the implementation of the Memorandum of Understanding. This collaboration therefore marks a key milestone in strengthening cooperation between India and Singapore with a focus on the exchange of best practices in the sphere of law and dispute resolution, which will eventually enable the adoption of efficacious mechanisms for the resolution of disputes through alternate dispute resolution mechanisms.

11) Answer: C

DGFT has been collaborating with various e-commerce platforms and other service providers to handhold and do capacity building and training sessions in the identified districts under the districts as export hubs initiative. In a similar collaboration, DGFT partnered with the global logistics service provider, DHL, through the signing of a Memorandum of Understanding (MoU) which will cover 76 districts in three phases, to conduct capacity-building sessions, training, and workshops for making Indian MSMEs export-ready.

Detailed Explanation:

The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India, has been actively engaging in boosting e-commerce exports from the country, leveraging its ‘District as Export Hub’ initiative. The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore the international markets through e-commerce channels. DGFT has been collaborating with various e-commerce platforms and other service providers to handhold and do capacity building and training sessions in the identified districts under the districts as export hubs initiative. In a similar collaboration, DGFT partnered with the global logistics service provider, DHL, through the signing of a Memorandum of Understanding (MoU) which will cover 76 districts in three phases, to conduct capacity-building sessions, training, and workshops for making Indian MSMEs export-ready. During the MoU signing event, Shri Sunil Barthwal, Commerce Secretary, highlighted the importance of the e-commerce ecosystem and pointed out the strides taken by India to create a digital infrastructure that can be leveraged to encourage MSMEs from rural India to connect to the world market. DGFT has signed MoUs with Amazon India and Shiprocket covering 20 and 16 districts respectively. These collaborations with e-commerce platforms and service providers have encouraged series of outreach events by DGFT- Regional Authorities to onboard new exporters; promote first-time exporters, and handhold MSME producers to become exporters through cross-border e-commerce sales under the District as Export Hub initiative.

12) Answer: E

India’s retail inflation eased marginally to 5.09 per cent on an annual basis in February 2024 as against 5.10 per cent in the previous month.The number has remained within the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent.

Detailed Explanation:

India’s retail inflation eased marginally to 5.09 per cent on an annual basis in February 2024 as against 5.10 per cent in the previous month. The number has remained within the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent.

The rural inflation rate remained unchanged at 5.34 per cent, meanwhile, the urban inflation rate declined to 4.78 per cent from 4.92 per cent in January. The data provided by the Ministry of Statistics and Programme Implementation (MoSPI) revealed, India’s industrial production grew 3.8 per cent in January 2024. In its February meeting, the RBI Monetary Policy Committee (MPC) left its inflation forecast for FY24 unchanged at 5.4 per cent. The central bank had also stated that it expects inflation to be 5 per cent in the current quarter ending March 31.

13) Answer: B

Detailed Explanation:

The National Stock Exchange (NSE) announced that its board has approve d a one per cent reduction in overall transaction charges across cash equity and equity derivatives segments and products with effect from April 1, 2024. The domestic stock exchange said the reduction is expected to have an overall impact of around ₹130 crore per annum on the company’s revenue from transaction charges. NSE charges will be lower than BSE after this reduction and will benefit algo and arbitrage trading. The NSE had in March 2023 rolled back 6 per cent hike in transaction charges on equity cash and derivatives segment. The Board has also approved the sale of the digital technology business of NSEIT, a wholly-owned step-down subsidiary of NSE along with NSEIT’s subsidiaries NSEIT US. The expected date of completion of the sale is March 31, 2024. The Digital Technology Business of NSEIT will be sold to Investcorp on a slump sale basis.

14) Answer: A

About Apax Partners LLP :

Founded : 1972
Headquarters : London, England

Detailed Explanation:

Private equity firm, Apax Partners LLP has appointed Leo Puri as an Advisor to Apax and Chairman of Apax India. In the newly created role, Leo Puri will advise Apax on the long-term growth strategy of the firm in the region. He will partner with Anurag Sud, head of Apax India, and the India investment team, to provide mentorship, strategic advice on operational input, and in assessing new investment opportunities. Sud will continue to lead and manage day-to-day operations in India, with support from London-based partner Rohan Haldea. Puri has extensive experience in private capital and the broader financial services industry, having held senior roles at UTI Asset Management, McKinsey & Company, and Warburg Pincus in India. He also previously served as the Chairman of JP Morgan Chase for South and Southeast Asia and currently sits on the Boards of Tata Sons, Hindustan Unilever, and Dr. Reddy’s. Apax Funds has invested $2.3 billion across nine deals in India since 2006.

15) Answer: B

Detailed Explanation:

Fino Payments Bank has appointed Anita Sudhir Pai and Neeta Mukerji as Additional Directors in the capacity of Independent Directors on its board. With these appointments, the bank’s board now comprises 3 women directors. Deena Mehta is already serving as an Independent Director on the board. The addition of Anita Sudhir Pai and Neeta Mukerji ensures that one-third of the bank’s board consists of women directors, out of a total board strength of 8 members. These appointments coincide with the bank’s application for a small finance bank license, indicating strategic moves towards strengthening the leadership team. Pai, until recently the chief operating officer (COO) of Yes Bank, has worked with major banks such as HDFC Bank, Standard Chartered, and ICICI Bank in various capacities. She was appointed as an Additional Director in the capacity of Independent Director of the Bank on January 11, 2024. Mukerji has worked with financial institutions such as ICICI Bank, Asset Reconstruction Company of India Limited (ARCIL), GE Capital, RBL Bank, and Assets Care & Reconstruction Enterprise (ACRE).

16) Answer: C

During the sea phase, the ship’s VBSS team boarded the Seychelles Coast Guard (SCG) ship LE Vigilant and demonstrated procedures of boarding operations. It is a premier multinational maritime exercise sponsored by the U.S. Africa Command (AFRICOM) and led by U.S. Naval Forces Europe-Africa/U.S. Sixth Fleet. The exercise culminated at a closing ceremony held at Seychelles Defence Academy, IIE Perseverance on 08 Mar 2024. The Indian Navy has been participating in the exercise since 2019.

Detailed Explanation:

INSTIR, the lead ship of First Training Squadron 1TS participated in Exercise Cutlass Express 2024 held at Port Victoria, Seychelles from 26 Feb – 08 Mar 2024. The exercise was inaugurated by the President of Seychelles in attendance of dignitaries from India, United States of America (USA) and African countries. As part of Cutlass Express, Indian Navy actively engaged with participants from 16 friendly foreign countries. Training was conducted on theoretical and practical aspects of Maritime Interdiction Operations, Visit Board Search and Seizure procedures and Diving operations. During the sea phase, the ship’s VBSS team boarded Seychelles Coast Guard (SCG) ship LE Vigilant and demonstrated procedures of boarding operations. It is a premier multinational maritime exercise sponsored by the U.S. Africa Command (AFRICOM) and led by U.S. Naval Forces Europe-Africa/U.S. Sixth Fleet. The exercise culminated at a closing ceremony held at Seychelles Defence Academy, IIE Perseverance on 08 Mar 2024. The Indian Navy has been participating in the exercise since 2019.

17) Answer: C

World Kidney Day is observed on the second Thursday of March, every year. This year it falls on March 14. The day The theme for the 2024 campaign is ‘Kidney Health For All.’

Detailed Explanation:

World Kidney Day is observed on the second Thursday of March, every year. This year it falls on March 14.World Kidney Day aims to create awareness about the importance of healthy kidneys and how one can maintain kidney health and prevent kidney-related diseases. The day The theme for the 2024 campaign is ‘Kidney Health For All.’ This theme focuses on the increasing burden of chronic kidney disease and achieving optimal kidney care to overcome these challenges at different levels.

Kidneys are one of the most important organs of the body and help remove toxins from the body to keep it fit and healthy.

18) Answer: D

Detailed Explanation:

On 15th March 2024, World Sleep Day 2024 is observed all over the world. World Sleep Day is an annual event, intended to be a celebration of sleep and a call to action on important issues related to sleep, including medicine, education, social aspects, and driving. World Sleep Day was founded by the World Sleep Day Committee of the World Sleep Day Society in 2008. It is celebrated annually on the Friday before the northern hemisphere vernal equinox. World Sleep Day is observed annually on the Friday before the March Equinox. The first World Sleep Day was held on 14 March 2008. Events involving discussions, presentations of educational materials, and exhibitions take place around the world and online.

19) Answer: D

World Consumer Rights Day 2024 is observed all over the world on March 15th, 2024. It is a global event observed annually on March 15th every year. It is a global event that aims to raise awareness about consumer rights and needs.

Detailed Explanation:

World Consumer Rights Day 2024 is observed all over the world on March 15th, 2024. It is a global event observed annually on March 15th every year. It is a global event that aims to raise awareness about consumer rights and needs. World Consumer Rights Day was inspired by President John F Kennedy, who sent a special message to the US Congress on 15th March 1962, in which he formally addressed the issue of consumer rights. He was the first world leader to do so. The consumer movement first marked that date in 1983 and now uses the day every year to mobilize action on important issues and campaigns.

20) Answer: D

About Fino Payments Bank :

Started operations ; 2017
Headquarters : Mumbai, Maharashtra, India
MD & CEO : Rishi Gupta
Fino Payments Bank is a wholly-owned subsidiary of Fino Paytech Limited (FPL).
It is currently the highest profit-generating payments bank.

This post was last modified on March 16, 2024 12:48 pm

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Daily Current Affairs Quiz – 15th March 2024

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