Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 22nd October 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.
1) The Insurance Regulatory and Development Authority of India (IRDAI) has granted a corporate agent license to Freo, a digital banking company supported by Peak XV. Freo uses how many primary verticals to operate?
(a) 1
(b) 2
(c) 3
(d) 4
(e) 5
2) Recently (Oct’24), How many finance companies are prohibited by the Reserve Bank of India from approving and disbursing new loans?
(a) 4
(b) 5
(c) 3
(d) 2
(e) 1
3) To provide for adequate time for implementation, the Insurance Regulatory and Development Authority of India (Irdai) has requested that bank-sponsored and non-bank-sponsored insurance firms adopt _______________ requirements by FY27.
(a) IFRS 15
(b) IFRS 16
(c) IFRS 17
(d) IFRS 18
(e) IFRS 19
4) The first finance company in IFSC for power and infrastructure lending, PFC Infra Finance IFSC Limited, starts operations following IFSCA approval. Who serves as IFSCA’s chairperson?
(a) K Chandrasekar
(b) K Lokesh
(c) K Rajaraman
(d) K Vijaykumar
(e) K Sivaneshan
5) Which bank has started funding individual women members of Self-Help Groups (SHGs) via the “Mahila Shaksham” scheme?
(a) Bank of India
(b) Central bank of India
(c) Canara bank
(d) Indian Overseas bank
(e) ICICI bank
6) In which nation did India’s top private sector bank, HDFC Bank, open its first branch after being granted a wholesale banking license by the government’s Monetary Authority on October 15, 2024?
(a) Baharain
(b) Singapore
(c) Dubai
(d) Hong Kong
(e) Kenya
7) How many million dematerialized (demat) accounts were there overall, with 4.4 million more in September 2024?
(a) 172.4
(b) 171.4
(c) 173.4
(d) 174.4
(e) 175.4
8) Recently (Oct 24), the Three new airports under the Regional Connectivity Scheme (RCS)-UDAN were recently opened by Prime Minister Narendra Modi at Rewa, Madhya Pradesh; Ambikapur, Chhattisgarh; and Saharanpur, Uttar Pradesh. Which year saw the beginning of the RCS-UDAN program under India’s National Civil Aviation Policy (NCAP)?
(a) 2014
(b) 2015
(c) 2016
(d) 2017
(e) 2018
9) The Global Trade Research Initiative (GTRI) estimates that India’s ambitious goal of constructing how many gigawatts of renewable energy capacity by 2030 may result in an annual import of almost $30 billion worth of solar technology, mostly because of its substantial dependence on Chinese commodities?
(a) 200GW
(b) 300GW
(c) 400GW
(d) 500GW
(e) 600GW
10) The UDAN (Ude Desh ka Aam Nagrik) program, which aims to improve regional air connectivity and make air travel more accessible and inexpensive, has made substantial progress, according to the Ministry of Civil Aviation. How many routes, including helicopter flights, have been operationalized under the UDAN scheme?
(a) 602
(b) 601
(c) 604
(d) 603
(e) 605
11) The creation of the biggest protected marine area in the North Atlantic was approved by the Azores Islands regional assembly of Portugal. What percentage of the Earth’s land and sea is the UN aiming to safeguard by 2030?
(a) 20%
(b) 10%
(c) 30%
(d) 40%
(e) 50%
12) For the 2025–2027 period, how many members were elected to the 47-member Human Rights Council by the UNGA?
(a) 15
(b) 17
(c) 16
(d) 18
(e) 19
13) The Yamuna Expressway Industrial Development Authority (YEIDA) and Noida Authority have two master plans for development projects for the next 15 years that have been authorized by the Uttar Pradesh (UP) government. What is the approximate number of crores allotted for the purchase of land?
(a) ₹1,000 crore
(b) ₹2,000 crore
(c) ₹3,000 crore
(d) ₹4,000 crore
(e) ₹5,000 crore
14) Which National Park has the first-highest concentration of butterfly species in India, before Kaziranga National Park (KNP) in Assam, which has over 446 species recorded?
(a) Namdapha NP
(b) Gir NP
(c) Periyar NP
(d) Sunderbans NP
(e) South Button Island NP
15) A slowdown in asset-creating spending brought on by the general elections may cause India’s capital expenditure (capex) for the current fiscal year (FY25) to fall short of the target of how many lakh crore by about ₹50,000 crore?
(a) ₹11.11 lakh crore
(b) ₹12.11 lakh crore
(c) ₹13.11 lakh crore
(d) ₹14.11 lakh crore
(e) ₹15.11 lakh crore
16) Recently (Oct 24), the Term life and health insurance premiums for older persons may soon be excluded from the Goods and Services Tax (GST). How many lakhs of health insurance premiums for non-elderly people will be free from GST under the GoM’s suggested proposal?
(a) ₹5 lakh
(b) ₹2 lakh
(c) ₹1 lakh
(d) ₹3 lakh
(e) ₹4 lakh
17) The next chairperson of the National Commission for Women (NCW) is Smt. Vijaya Kishore Rahatkar. She is going to be NCW’s _______________ Chairperson.
(a) 7th
(b) 8th
(c) 9th
(d) 10th
(e) 6th
18) How much crores of Standard Chartered Bank’s personal loan book would be acquired by private sector lender Kotak Mahindra Bank, contingent on regulatory approval?
(a) ₹4,100-crore
(b) ₹3,100-crore
(c) ₹2,100-crore
(d) ₹5,100-crore
(e) ₹6,100-crore
19) A Prada-designed spacesuit will be worn by the first woman on the moon during NASA’s 2026 mission. Christina Koch, who is the sole female member of the Artemis II crew, has the potential to become the first woman to set foot on the moon, which would be a historic event. To date, only _________ astronauts—all men—have set foot on the moon.
(a) 11
(b) 12
(c) 13
(d) 14
(e) 15
20) Which state hosted the bilateral naval exercise between India and Oman, known as Naseem Al Bahr, from October 13 to October 18, 2024?
(a) Maharashtra
(b) Goa
(c) Gujarat
(d) Kerala
(e) West Bengal
21) With an Air Quality Index (AQI) of 208, Lahore, a major city in Pakistan, has surpassed New Delhi’s score of ________ to become the most polluted city in the world for the second time in a week.
(a) 162
(b) 163
(c) 164
(d) 165
(e) 166
22) When is the 2024 International Stuttering Awareness Day observed?
(a) October 21
(b) October 22
(c) October 20
(d) October 19
(e) October 18
23) Which bank tagline was “Let’s make money simple”?
(a) YES bank
(b) DBS bank
(c) Kotak Mahindra bank
(d) Central Bank of India
(e) HSBC bank
24) When was the National Commission for Women Act established?
(a) 1991
(b) 1992
(c) 1993
(d) 1994
(e) 1995
25) In which state, does Lakshman Acharya act as a governor currently?
(a) Assam
(b) Sikkim
(c) Bihar
(d) Chandigarh
(e) Jharkhand
Answers :
1) Answer: C
Short Explanation:
Freo, a digital banking startup backed by Peak XV, has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI).
Business Verticals: Freo operates through three main verticals:
Freo Pay: Offers UPI payments, bill payments, and co-branded credit cards with Yes Bank.
Freo Save: Provides savings accounts in partnership with Equitas Small Finance Bank.
Freo Credit: Previously known as MoneyTap, this vertical offers loans in collaboration with various financial institutions, including Incred Capital and Cholamandalam Investment and Finance.
Detailed Explanation:
Freo, a digital banking startup backed by Peak XV, has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI).
A neo bank is a digital bank that offers financial services online or through a mobile app, without having any physical branches.
Neo banks are also known as fintech banks, challenger banks, or digital banks.
Product Offerings: Alongside insurance, Freo will continue to provide digital banking services such as UPI payments, savings accounts, and credit products.
Insurance Market in India: The current insurance penetration in India is around 4.2%, significantly lower than the global average of 7%.
Business Verticals: Freo operates through three main verticals:
Freo Pay: Offers UPI payments, bill payments, and co-branded credit cards with Yes Bank.
Freo Save: Provides savings accounts in partnership with Equitas Small Finance Bank.
Freo Credit: Previously known as MoneyTap, this vertical offers loans in collaboration with various financial institutions, including Incred Capital and Cholamandalam Investment and Finance.
2) Answer: A
Short Explanation:
The Reserve Bank of India (RBI) has banned four finance companies from sanctioning and disbursing new loans due to excessive interest rates charged to borrowers.
The companies affected by the ban include:
Navi Finserv (led by Sachin Bansal)
DMI Finance (backed by Mitsubishi UFJ Financial Group)
Asirvad Micro Finance Ltd. (promoted by Manappuram Finance)
Arohan Financial Services Ltd. (Kolkata-based MFI)
Detailed Explanation:
The Reserve Bank of India (RBI) has banned four finance companies from sanctioning and disbursing new loans due to excessive interest rates charged to borrowers.
The companies affected by the ban include:
Navi Finserv (led by Sachin Bansal)
DMI Finance (backed by Mitsubishi UFJ Financial Group)
Asirvad Micro Finance Ltd. (promoted by Manappuram Finance)
Arohan Financial Services Ltd. (Kolkata-based MFI)
The ban is effective from the close of business on October 21, 2024.
The action follows a warning from RBI Governor Shaktikanta Das, emphasising the need for sustainable business practices and robust risk management frameworks among shadow lenders.
3) Answer: C
Short Explanation:
The Insurance Regulatory and Development Authority of India (Irdai) has asked both bank-sponsored and non-bank-sponsored insurance companies to implement IFRS 17 regulations by FY27, a move that will give these companies sufficient time for implementation.
Effective Date:IFRS 17 became effective on January 1, 2023, as developed by the International Accounting Standards Board (IASB).
Detailed Explanation:
The Insurance Regulatory and Development Authority of India (Irdai) has asked both bank-sponsored and non-bank-sponsored insurance companies to implement IFRS 17 regulations by FY27, a move that will give these companies sufficient time for implementation.
Previously, Irdai had set a timeline of FY25 for the implementation of IFRS 17 in the insurance sector.
IFRS 17 (International Financial Reporting Standard 17) is an accounting standard that establishes a framework for reporting insurance contracts.
Effective Date:IFRS 17 became effective on January 1, 2023, as developed by the International Accounting Standards Board (IASB).
4) Answer: C
Short Explanation:
PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has received approval from the International Financial Services Centres Authority (IFSCA) to commence operations as a finance company in IFSC (International Financial Services Centre) located in GIFT City, Gujarat.
Significance:PIFIL is notable for being the first finance company in IFSC specifically focused on power and infrastructure lending.
Regulatory Recognition:Shri. K. Rajaraman, Chairperson of IFSCA, congratulated PFC for being the first government NBFC to receive the Certificate of Registration (CoR) as a finance company for its IFSC subsidiary.
Detailed Explanation:
PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has received approval from the International Financial Services Centres Authority (IFSCA) to commence operations as a finance company in IFSC (International Financial Services Centre) located in GIFT City, Gujarat.
Significance:PIFIL is notable for being the first finance company in IFSC specifically focused on power and infrastructure lending.
This establishment positions PFC as a global brand and strengthens India’s status as a global financial hub.
Operational Focus:PIFIL aims to provide lending services in India and other countries in foreign currency, catering to both government and private sector players.
Regulatory Recognition:Shri. K. Rajaraman, Chairperson of IFSCA, congratulated PFC for being the first government NBFC to receive the Certificate of Registration (CoR) as a finance company for its IFSC subsidiary.
5) Answer: D
Short Explanation:
Public sector Indian Overseas Bank (IOB) has launched the ‘Mahila Shaksham’ scheme to finance individual women members of Self-Help Groups (SHGs).
The scheme aligns with the Centre’s Deendayal Antyodaya Yojana – National Rural Livelihoods Mission initiative.
Detailed Explanation:
Public sector Indian Overseas Bank (IOB) has launched the ‘Mahila Shaksham’ scheme to finance individual women members of Self-Help Groups (SHGs).
The scheme aligns with the Centre’s Deendayal Antyodaya Yojana – National Rural Livelihoods Mission initiative.
It is part of the Ministry of Rural Development’s ‘Lakhpati Didi Yojana’, which focuses on improving the financial status of women SHG members.
Credit Support: Offers credit support of up to ₹10 lakh to individual members participating in the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission.
Promotes Financial Independence: The scheme is designed to enhance the financial independence of women.
6) Answer: B
Short Explanation:
HDFC Bank, India’s leading private sector bank, has inaugurated its first branch in Singapore after receiving a wholesale banking license from the Monetary Authority of Singapore (MAS) effective 15th October 2024.
Detailed Explanation:
HDFC Bank, India’s leading private sector bank, has inaugurated its first branch in Singapore after receiving a wholesale banking license from the Monetary Authority of Singapore (MAS) effective 15th October 2024.
The new branch will enable HDFC Bank to offer a diverse range of financial products and services to residents of Singapore.
With this addition, HDFC Bank’s international presence now includes five branches located in Hong Kong, Bahrain, Dubai, Singapore, and an IFSC Banking Unit in Gujarat, India.
Additionally, the bank has representative offices in Kenya, Abu Dhabi, Dubai, and London.
As of March 31, 2024, HDFC Bank’s international business reported a balance sheet size of approximately USD 9.06 billion.
7) Answer: E
Short Explanation:
The total number of dematerialized (demat) accounts reached 175.4 million, with an increase of 4.4 million accounts in September 2024.
Since the beginning of 2024, there has been an average addition of 4 million accounts per month.
Detailed Explanation:
The total number of dematerialized (demat) accounts reached 175.4 million, with an increase of 4.4 million accounts in September 2024.
Since the beginning of 2024, there has been an average addition of 4 million accounts per month.
Impact of IPOs:The rise in demat accounts was driven by a record number of initial public offerings (IPOs) in September.
In September 2024, 12 companies raised a total of Rs 11,058 crore through IPOs.
In the calendar year 2024, over 62 companies have collectively raised Rs 64,511 crore via IPOs.
8) Answer: C
Short Explanation:
Prime Minister Narendra Modi recently inaugurated three new airports in Rewa (Madhya Pradesh), Ambikapur (Chhattisgarh), and Saharanpur (Uttar Pradesh) under the Regional Connectivity Scheme (RCS) – UDAN.
The RCS-UDAN initiative was launched under India’s National Civil Aviation Policy (NCAP) 2016
Detailed Explanation:
Prime Minister Narendra Modi recently inaugurated three new airports in Rewa (Madhya Pradesh), Ambikapur (Chhattisgarh), and Saharanpur (Uttar Pradesh) under the Regional Connectivity Scheme (RCS) – UDAN.
This move, part of the government’s ongoing efforts to improve infrastructure and air connectivity across India, especially in remote and underserved regions, was announced from Varanasi, Uttar Pradesh.
The RCS-UDAN initiative was launched under India’s National Civil Aviation Policy (NCAP) 2016, with a 10-year vision aimed at enhancing air travel accessibility across the nation.
Since its first flight in April 2017, the scheme has facilitated travel for over 144 lakh passengers, showcasing its success in achieving last-mile connectivity.
RCS-UDAN has been pivotal in supporting new airline businesses like Flybig, Star Air, IndiaOne Air, and Fly91.
It has led to increased demand for new aircraft, broadening the fleet variety including Airbus, Boeing, ATR, Embraer, and helicopters.
Over 1,000 aircraft orders are in the pipeline, signaling a substantial fleet expansion in the coming years.
9) Answer: D
Short Explanation:
According to the Global Trade Research Initiative (GTRI),India’s ambitious target of installing 500 GW of renewable energy capacity by 2030 could lead to annual solar equipment imports of around $30 billion, primarily due to a heavy reliance on Chinese goods.
The think tank underscores the urgent need for India to develop a self-reliant solar manufacturing ecosystem, particularly in critical sectors like polysilicon and wafer production.
Detailed Explanation:
According to the Global Trade Research Initiative (GTRI),India’s ambitious target of installing 500 GW of renewable energy capacity by 2030 could lead to annual solar equipment imports of around $30 billion, primarily due to a heavy reliance on Chinese goods.
The think tank underscores the urgent need for India to develop a self-reliant solar manufacturing ecosystem, particularly in critical sectors like polysilicon and wafer production.
China dominates the global solar manufacturing market, controlling 97% of polysilicon production and 80% of solar modules.
In 2023-24, India imported $7 billion worth of solar equipment, with 62.6% of it coming from China.
India’s heavy reliance on imports could push solar equipment imports to $30 billion annually by 2030.
India added 15 GW of solar capacity in 2023-24, raising the total to 90.8 GW by September 2024, a significant increase from just 2.8 GW in 2014.
To achieve the 500 GW target, installations need to scale up to 65-70 GW annually.
10) Answer: B
Short Explanation:
The Ministry of Civil Aviation announced significant progress under the UDAN (Ude Desh ka Aam Nagrik) scheme, which aims to boost regional air connectivity and make air travel more accessible and affordable.
601 routes have been operationalised under the UDAN scheme, including helicopter routes.
Approximately 28% of these routes cater to the most remote locations, enhancing accessibility.
Detailed Explanation:
The Ministry of Civil Aviation announced significant progress under the UDAN (Ude Desh ka Aam Nagrik) scheme, which aims to boost regional air connectivity and make air travel more accessible and affordable.
601 routes have been operationalised under the UDAN scheme, including helicopter routes.
Approximately 28% of these routes cater to the most remote locations, enhancing accessibility.
A total of 86 aerodromes have been operationalised, comprising:
71 airports
13 heliports
2 water aerodromes
These developments have facilitated air travel for over 1.44 crore passengers across more than 2.8 lakh flights.
The number of operational airports in India has doubled from 74 in 2014 to 157 in 2024.
The government aims to increase the count to 350-400 airports by 2047, further expanding regional connectivity.
The UDAN scheme was launched on October 21, 2016, marking a pivotal initiative to enhance air travel across the country.
11) Answer: C
Short Explanation:
The regional assembly of Portugal’s Azores Islands approved the establishment of the largest protected marine area in the North Atlantic.
This initiative aims to meet international conservation goals ahead of schedule, particularly the United Nations goal of protecting 30% of the Earth’s land and sea by 2030 as part of a global pact adopted in the previous year.
Detailed Explanation:
The regional assembly of Portugal’s Azores Islands approved the establishment of the largest protected marine area in the North Atlantic.
This initiative aims to meet international conservation goals ahead of schedule, particularly the United Nations goal of protecting 30% of the Earth’s land and sea by 2030 as part of a global pact adopted in the previous year.
The newly approved marine network will cover nearly 300,000 square kilometres (115,830 square miles), making it a significant contribution to ocean conservation efforts.
Ecosystem Preservation:The protected area is designed to safeguard:
Underwater mountain ranges
Vulnerable marine ecosystems, including:
Deep-sea corals
Hydrothermal vents
Various marine species
Geographical Context:The Azores is an autonomous region of Portugal, located approximately 1,500 km (932 miles) west of mainland Portugal.
12) Answer: D
Short Explanation:
The United Nations General Assembly (UNGA) elected 18 members to the 47-member Human Rights Council for the 2025-2027 term.
The newly elected members will serve three-year terms starting from January 1, 2025.
Detailed Explanation:
The United Nations General Assembly (UNGA) elected 18 members to the 47-member Human Rights Council for the 2025-2027 term.
The countries elected to the Council are Benin, Bolivia, Colombia, Cyprus, Czechia, Democratic Republic of the Congo, Ethiopia, Gambia, Iceland, Kenya, Marshall Islands, Mexico, North Macedonia, Qatar, Republic of Korea, Spain, Switzerland, and Thailand.
The newly elected members will serve three-year terms starting from January 1, 2025.
The distribution of seats is in accordance with equitable geographical representation (13 from the Group of African States; 13 from the Group of Asia-Pacific States; 6 from the Group of Eastern European States; 8 from the Group of Latin American and Caribbean States; and 7 from the Group of Western European and Other States)
13) Answer: A
Short Explanation:
The Uttar Pradesh (UP) government approved two master plans for development projects by the Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA) over the next 15 years.
Financial Allocation:Approximately ₹1,000 crore has been allocated for land acquisition.
Detailed Explanation:
The Uttar Pradesh (UP) government approved two master plans for development projects by the Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA) over the next 15 years.
Focus Areas:Noida Master Plan 2041:
Concentrates on the expansion of the Dadri-Noida-Ghaziabad Investment Region (DNGIR), also known as New Noida.
Land acquisition will involve 80 villages in Gautam Budh Nagar and Bulandshahr districts.
Project Phases:The development will occur in four phases:
Phase 1: 3,165 hectares by 2027.
Phase 2: 3,798 hectares from 2027 to 2032.
Phase 3: 5,908 hectares by 2037.
Phase 4: 8,230 hectares by 2041.
Financial Allocation:Approximately ₹1,000 crore has been allocated for land acquisition.
Land Use Distribution:
40% for industries.
13% for residential development.
18% for green areas and recreational spaces.
4% for commercial zones.
8% for institutional areas.
Population Capacity:The new city is designed to accommodate around 600,000 residents.
Provision for an Olympic Park in sectors 22F and 23B, featuring Olympic-level sports infrastructure.
Development of two new sectors for multiple land-use industries:
Sector 4A: Korean City (365 hectares).
Sector 5A: Japanese City (395 hectares).
14) Answer: A
Short Explanation:
Over 446 butterfly species have been documented in Kaziranga National Park (KNP), making it the second-highest concentration of butterfly species in India, following Namdapha National Park in Arunachal Pradesh.
In 1985, Kaziranga was designated as a UNESCO World Heritage Site due to its ecological significance.
Detailed Explanation:
Over 446 butterfly species have been documented in Kaziranga National Park (KNP), making it the second-highest concentration of butterfly species in India, following Namdapha National Park in Arunachal Pradesh.
Kaziranga National Park is located in the northeastern part of India, specifically in the districts of Golaghat and Nagaon in Assam.
Significance of the Park:KNP is recognized as the largest undisturbed area and a representative habitat in the Brahmaputra Valley floodplain.
In 1985, Kaziranga was designated as a UNESCO World Heritage Site due to its ecological significance.
Butterfly Conservation Meet:The Butterfly Conservation Meet, the first of its kind, took place from September 27 to 29 this year to assess the status of butterfly species in the park.
15) Answer: A
Short Explanation:
India’scapital expenditure (capex) for the current fiscal year (FY25) may fall short by around ₹50,000 crore, compared to the target of ₹11.11 lakh crore, due to a slowdown in asset-creating spending prompted by general elections.
During the first five months of FY25 (April-August), the Centre’s capex was ₹3 lakh crore, a decline of 19.5% compared to ₹3.73 lakh crore in the same period last year.
Detailed Explanation:
India’scapital expenditure (capex) for the current fiscal year (FY25) may fall short by around ₹50,000 crore, compared to the target of ₹11.11 lakh crore, due to a slowdown in asset-creating spending prompted by general elections.
During the first five months of FY25 (April-August), the Centre’s capex was ₹3 lakh crore, a decline of 19.5% compared to ₹3.73 lakh crore in the same period last year.
The slowdown in Q1FY25 spending was primarily due to election-related activities, causing a temporary dip in infrastructure project execution.
Railways and Roads, which account for 47% (₹5.24 lakh crore) of the capex budget, have seen reduced spending.
Railways Board: Investment of ₹1.16 lakh crore in H1FY25, down 19% from ₹1.43 lakh crore in H1FY24.
National Highways Authority of India (NHAI): Investment of ₹82,034 crore, down 9% from ₹90,000 crore in the same period last year.
Defence capex may see a spike later in the fiscal year based on procurement obligations.
Finance Minister Nirmala Sitharaman has conducted review meetings with key ministries, urging them to make up for the capex shortfall in Q3FY25.
Revised Estimate (RE) meetings for FY25 and Budget Estimate (BE) for FY26 are ongoing, with ministries adjusting demands based on spending capabilities until March 2025.
16) Answer: A
Short Explanation:
The Goods and Services Tax (GST) on term life and health insurance premiums for senior citizens may soon be exempted.
The Group of Ministers (GoM) convened to discuss the GST rates on life and health insurance recently and has made preliminary decisions regarding the tax structure.
The GoM has proposed to exempt GST on health insurance premiums for coverage up to ₹5 lakh for individuals who are not senior citizens.
Detailed Explanation:
The Goods and Services Tax (GST) on term life and health insurance premiums for senior citizens may soon be exempted.
The Group of Ministers (GoM) convened to discuss the GST rates on life and health insurance recently and has made preliminary decisions regarding the tax structure.
The GoM has proposed to exempt GST on health insurance premiums for coverage up to ₹5 lakh for individuals who are not senior citizens.
Premiums for health insurance coverage exceeding ₹5 lakh will still be subject to 18% GST.
Currently, 18% GST is levied on life insurance premiums for term policies and family floater policies.
Bihar Deputy Chief Minister Samrat Chaudhary emphasized that the GoM members are focused on providing relief, particularly to senior citizens.
The final decision regarding these exemptions will be taken by the GST Council.
17) Answer: C
Short Explanation:
Smt. Vijaya Kishore Rahatkar has been appointed as the Chairperson of the National Commission for Women (NCW).
She will be the 9th Chairperson of NCW.
The appointment made under Section 3 of the National Commission for Women Act, 1990, will be for a period of three years or until she reaches the age of 65, whichever comes first.
Detailed Explanation:
Smt. Vijaya Kishore Rahatkar has been appointed as the Chairperson of the National Commission for Women (NCW).
She will be the 9th Chairperson of NCW.
The appointment made under Section 3 of the National Commission for Women Act, 1990, will be for a period of three years or until she reaches the age of 65, whichever comes first.
Smt. Rahatkar has demonstrated leadership skills across various political and social responsibilities. During her tenure as Chairperson of the Maharashtra State Commission for Women (2016-2021), she spearheaded initiatives like “Sakshama” (support for acid attack survivors), “Prajwala” (linking self-help groups to central government schemes), and “Suhita” (24×7 helpline service for women).
She has authored several books, including ‘Vidhilikhit’ (on women’s legal issues) and ‘Aurangabad: Leading to Wide Roads’.
18) Answer: A
Short Explanation:
Private sector lender Kotak Mahindra Bank has entered into a definitive agreement to acquire the ₹4,100-crore personal loan book of Standard Chartered Bank, India, subject to regulatory approval.
The transaction consists of loans classified as ‘Standard Loans’ in line with the Reserve Bank of India (RBI) guidelines.
Detailed Explanation:
Private sector lender Kotak Mahindra Bank has entered into a definitive agreement to acquire the ₹4,100-crore personal loan book of Standard Chartered Bank, India, subject to regulatory approval.
The transaction consists of loans classified as ‘Standard Loans’ in line with the Reserve Bank of India (RBI) guidelines.
The transaction is subject to regulatory approval and is expected to be completed within the next three months.
Significant Foreign Bank Deal:This transaction marks the second significant deal between an Indian private sector bank and a foreign bank in recent years.
In 2022, Axis Bank acquired Citi India’s consumer and wealth management business.
19) Answer: B
Short Explanation:
The first woman to set foot on the Moon will be dressed in a designer spacesuit, thanks to a collaboration between the National Aeronautics and Space Administration (NASA) and Italian fashion house Prada.
Christina Koch, the only woman in the Artemis II crew, could be the first woman to step onto the lunar surface, a significant moment in history.
To date, only 12 astronauts have walked on the Moon, all men.
Detailed Explanation:
The first woman to set foot on the Moon will be dressed in a designer spacesuit, thanks to a collaboration between the National Aeronautics and Space Administration (NASA) and Italian fashion house Prada.
As part of Nasa’s historic Artemis III mission to the lunar South Pole, Prada has teamed up with Axiom Space to create a cutting-edge spacesuit for the astronauts heading to the Moon in 2026.
The spacesuit, although highly innovative, retains a nod to the classic design worn by Apollo astronauts during their lunar expeditions more than 50 years ago.
Historical Significance : Nasa’s Artemis III mission is set to be the first astronaut Moon landing since the Apollo 17 mission in 1972.
Leading up to this milestone is Artemis II, scheduled for September 2025, which will be the first crewed Artemis mission to orbit the Moon.
Christina Koch, the only woman in the Artemis II crew, could be the first woman to step onto the lunar surface, a significant moment in history.
To date, only 12 astronauts have walked on the Moon, all men.
20) Answer: B
Short Explanation:
The Indo-Oman bilateral naval exercise, Naseem Al Bahr, took place off the coast of Goa from October 13 to 18, 2024.
The Indian Navy participated with Indian Naval Ship (INS) Trikand and a Dornier Maritime Patrol Aircraft, while the Royal Navy of Oman was represented by RNOV Al Seeb.
Detailed Explanation:
The Indo-Oman bilateral naval exercise, Naseem Al Bahr, took place off the coast of Goa from October 13 to 18, 2024.
The Indian Navy participated with Indian Naval Ship (INS) Trikand and a Dornier Maritime Patrol Aircraft, while the Royal Navy of Oman was represented by RNOV Al Seeb.
The exercise was conducted in two phases:
Harbour Phase: Held from October 13 to 15, focused on professional interactions, including Subject Matter Expert Exchanges and planning conferences.
Sea Phase: Conducted from October 16 to 18, involving various naval drills and operational activities.
Significance of the Partnership:Oman is the first Gulf country with which all three wings of India’s defense forces (Army, Navy, Air Force) conduct joint exercises.
21) Answer: C
Short Explanation:
Lahore, a major city in Pakistan, has been ranked as the most polluted city in the world for the second time in a week, with an Air Quality Index (AQI) of 208, surpassing New Delhi’s score of 164.
Data from the US embassy’s local monitoring indicated an even higher AQI of 252, signalling very unhealthy air conditions.
Detailed Explanation:
Lahore, a major city in Pakistan, has been ranked as the most polluted city in the world for the second time in a week, with an Air Quality Index (AQI) of 208, surpassing New Delhi’s score of 164.
Data from the US embassy’s local monitoring indicated an even higher AQI of 252, signalling very unhealthy air conditions.
Lahore’s AQI of 208 surpasses New Delhi (164), indicating severe air pollution.
US Embassy’s monitoring reported an AQI of 252, indicating very unhealthy air.
Lahore has topped the global pollution ranking twice in a week, signaling an early onset of the smog season.
22) Answer: B
International Stuttering Awareness Day 2024 is observed on the 22nd of October 2024.
This year, the theme of International Stuttering Awareness Day 2024 is ‘The Power of Listening.’
International Stuttering Awareness Day was established in the year 1998 to bring attention to the millions of people across the world who are living with his specific Communication Disorder.
23) Answer: C
About Kotak Mahindra Bank :
Founded ; 1985
Headquarters : Mumbai, Maharashtra, India
MD and CEO : Ashok Vaswani
Tagline : Let’s make money simple
24) Answer: B
About NCW :
Establishment: Formed in 1992 under the National Commission for Women Act, 1990.
Headquarters: New Delhi, India.
Mandate: Work towards the advancement of women’s rights, review constitutional and legal safeguards for women.
25) Answer: A
About Assam :
Governor : Lakshman Acharya
Chief Minister : Himanta Biswa Sarma
Capital : Dispur
National Parks : Kaziranga National Park, Manas National Park, Dibru – Saikhowa National Park,Nameri National Park, Rajiv Gandhi Orang National Park
