Daily Current Affairs Quiz – 25th & 26th August 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 25th & 26th 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) The Reserve Bank of India (RBI) has set a schedule for the premature redemption of Sovereign Gold Bonds (SGBs) issued between May 2017 and May 2020. How many tranches of these bonds will the RBI repay between October 11, 2024 and February 7, 2025?

(a) 20

(b) 15

(d) 30

(e) 25

2) Which company, after the success of Rupay Credit Cards being connected to UPI, is the second significant credit-related function on UPI?

(a) Phonepe

(b) Paytm

(d) Visa

(e) Googlepay

3) Which company has joined with PayU, a fintech company sponsored by Naspers, to give Indian consumers rapid access to digital credit?

(a) Phonepe

(b) Paytm

(d) Razorpay

(e) Googlepay

4) The Bandhan Bank has launched ‘Avni’, a savings account tailored specifically for women. Customers must keep an average quarterly balance of how many rupees?

(a) Rs.15000

(b) Rs.10000

(d) Rs.25000

(e) Rs.30000

5) Which small finance bank, along with Aditya Birla Finance, launches new credit cards on the Visa and RuPay networks?

(a) AU SFB

(b) Capital SFB

(d) Utkarsh SFB

(e) Ujjiwan SFB

6) In terms of credit card terminals, Axis Bank has surpassed which bank to become India’s dominating player. In less than four years, Axis Bank reached this status?

(a) HDFC

(b) ICICI

(d) DBS

(e) RBL

7) Which Bank and Piramal Finance Announce a Strategic Co-Lending Alliance. This alliance will use the Central Bank of India’s enormous branch network and Piramal Finance’s “High Tech + High Touch” approach, which blends technology with personalized service to improve the client experience?

(a) Canara bank

(b) Central Bank of India

(d) Indian bank

(e) Bank of Baroda

8) The Union Cabinet, led by Prime Minister Narendra Modi, has approved the Unified Pension Scheme (UPS).What is the minimum monthly pension amount?

(a) Rs.15000

(b) Rs.10000

(d) Rs.25000

(e) Rs.30000

9) The Spices Board has launched the SPICED Scheme to boost spice exports and cardamom productivity while also improving the post-harvest quality of spices for export. Where is the headquarters of the Spices Board?

(a) Karnataka

(b) Odisha

(d) Tamil Nadu

(e) Kerala

10) What city will Dabur, a prominent Fast-Moving Consumer Goods (FMCG) company in India, be investing Rs 400 crore in to establish its first-ever world-class manufacturing unit in south India at the Sipcot Food Park?

(a) Perundari

(b) Tindivanam

(d) Ambattur

(e) Oragadam

11) Govind Rajan Padmanabhan, biochemist and former director of the Indian Institute of Science, was given the inaugural Vigyan Ratna Puraskar, India’s highest scientific prize, by President Droupadi Murmu. Which award was given to the Chandrayaan-3 mission team by Project Director P Veeramuthuvel?

(a) Vigyan Shri Puraskar

(b) Vigyan Yuva-Shanti

(d) Rashtriya Vigyan Puraskar

(e) Vigyan Bhatnagar

12) GAIL and Petron Sign MoU to examine Bio-Ethylene Plant Joint Venture examine the establishment of a ________ Kilo Tons per Annum (KTA) bio-ethylene plant and its downstream unit(s) in India.

(a) 100

(b) 200

(d) 500

(e) 600

13) The Center works with MicroSave to make the most use of Community Investment Support Funds. Which year did the NRLM release ₹22,296 crore?

(a) 2010

(b) 2011

(d) 2015

(e) 2009

14) An agreement to improve PMEGP implementation is signed by KVIC and the Department of Posts. Out of the following statements, which one is false?

(a) KVIC, Ministry of Micro, Small and Medium Enterprises (MSME) signed an important MoU with the Department of Posts working under the Ministry of MSME.

(b) Maximum ₹1 crore (subsidy up to ₹15 lakh, ₹20 lakh for NER and Hill states).

(d) Individuals above 18 years of age; no income ceiling.

(e) Public Sector Banks, Regional Rural Banks, Co-operative Banks, Private Sector Banks, and SIDBI

15) In which state did Shri Rajnath Singh open the newly constructed, cutting-edge Indian Coast Guard (ICG) Maritime Rescue Coordination Centre?

(a) Karnataka

(b) Odisha

(d) Tamil Nadu

(e) Kerala

16) The National Aeronautics and Space Administration Tanager-1, an instrument for tracking greenhouse gases, has been successfully launched. How many square kilometers of Earth’s surface can the satellite survey each day?

(a) 130,000 square kilometers

(b) 100,000 square kilometers

(d) 150,000 square kilometers

(e) 180,000 square kilometers

17) When was Women’s Equality Day commemorated annually to honour women’s ability to vote in the US?

(a) August 24

(b) August 20

(d) August 26

(e) August 23

18) India’s National Aerospace Laboratories (NAL) created the ‘Kamikaze’ drone, which has an indigenously made engine with a range of how many kilometers?

(a) 1500km

(b) 1200km

(d) 2000km

(e) 1800km

19) Which business has collaborated with Axiom Space to incorporate enhanced 4G/LTE communication capabilities into the next-generation spacesuits for the Artemis III mission?

(a) Oppo

(b) Reliance Jio

(d) Nokia

(e) Samsung

20) According to the report, Experian India, a data and technology powerhouse, has released AiDRIAN, an innovative tool for detecting potential fraud. The platform incorporates device profiling, which looks at how many device characteristics to generate unique device IDs and detect anomalies?

(a) 120

(b) 100

(d) 150

(e) 75

Answers :

1) Answer: D

Short Explanation:

The Reserve Bank of India (RBI) has announced the calendar for the premature redemption of Sovereign Gold Bonds (SGBs) issued between May 2017 and May 2020.

The RBI plans to redeem 30 tranches of these bonds between October 11, 2024, and February 7, 2025.

Detailed Explanation:

The Reserve Bank of India (RBI) has announced the calendar for the premature redemption of Sovereign Gold Bonds (SGBs) issued between May 2017 and May 2020.

The RBI plans to redeem 30 tranches of these bonds between October 11, 2024, and February 7, 2025.

Redemption Process:The first redemption period begins on October 11, 2024, for SGBs issued on May 12, 2017.

This window will close on November 2, 2024, with the payout scheduled for November 12, 2024.

The redemption window will be open for 20 days, with the amount credited to the investor’s account 10 days after the redemption request.

Interest Rate: Sovereign gold bonds currently offer an interest rate of 2.5%, payable semi-annually.

Issuing Authority: These bonds are issued by the Government of India under the Government of India Stock, in accordance with Section 3 of the Government Securities Act, 2006 (GS Act 2006).

2) Answer: A

Short Explanation:

Walmart backed fintech firm PhonePe launched Credit Line on UPI on its platform to enable consumers availing credit lines from their banks to seamlessly link them to UPI on PhonePe for merchant payments.

Detailed Explanation:

The feature will enable consumers to purchase with ease across millions of merchants and avail the flexibility of short-term credit that helps them manage their monthly expenses better.

This is the second major credit-related feature on UPI, following the success of Rupay Credit Cards being linked to UPI.

3) Answer: C

Short Explanation:

Naspers-backed fintech firm PayU has partnered with Amazon Pay Later to provide instant digital credit access to Indian shoppers.

PayU reported an 11% increase in its India revenue, reaching $444 million in fiscal year 2024, up from $399 million the previous year. Payment services contributed 46% to its core revenue from this segment, accounting for 60% of total payment volumes (TPV).

Detailed Explanation:

Naspers-backed fintech firm PayU has partnered with Amazon Pay Later to provide instant digital credit access to Indian shoppers.

This plug-and-play platform by PayU allows merchants to create customised offers during checkout across various payment modes.

Notably, Amazon is considering spinning off its payments arm, Amazon Pay, into a standalone app to compete with the likes of PhonePe and Google Pay.

4) Answer: D

Short Explanation:

Bandhan Bank has introduced ‘Avni’, a savings account exclusively designed for women.

Balance Requirement: Customers need to maintain an average quarterly balance of ₹25,000.

Detailed Explanation:

Bandhan Bank has introduced ‘Avni’, a savings account exclusively designed for women.

Debit Card Benefits: Includes free airport lounge access, personal accident insurance cover of ₹10 lakh, and lost card liability of ₹3.5 lakh.

Discounts: Offers a 25% discount on locker rentals and a 50% discount on gold loan processing fees.

Balance Requirement: Customers need to maintain an average quarterly balance of ₹25,000.

Loyalty Program: Bandhan Bank has also launched a loyalty program named Bandhan Bank Delights, which allows customers to earn reward points called Delight Points that can be redeemed for purchases.

5) Answer: A

Short Explanation:

Aditya Birla Finance Limited (“ABFL”), a wholly owned subsidiary of Aditya Birla Capital, India’s leading financial services conglomerate and AU Small Finance Bank Limited (SFB), India’s largest small finance bank, has announced the launch of Aditya Birla Finance AU credit cards, powered by and available on Visa and RuPay payment networks.

Detailed Explanation:

ABC AU Flex: Affordable option for mass India.

ABC AU Nxt: Millennial-friendly with specialised features.

ABC AU Pro: High-end card for the affluent.

ABC AU Biz: Tailored for entrepreneurs and business owners.

6) Answer: B

Short Explanation:

Axis Bank has become the leading player in credit card terminals in India, surpassing ICICI Bank.

The bank achieved this position in just four years.

Market Share: As of June 2024, Axis Bank operates 18.7 lakh credit card terminals, which constitutes 20.8% of the market, according to RBI data. This places Axis Bank ahead of ICICI Bank, which has 17.4 lakh terminals.

Detailed Explanation:

Axis Bank has become the leading player in credit card terminals in India, surpassing ICICI Bank.

The bank achieved this position in just four years.

Affordable Card Terminals: The bank has introduced new, cost-effective card acceptance devices available for rent at Rs 150-200 per month to support its expansion.

Neo Merchant App: Axis Bank has launched the Neo app, a merchant app designed to simplify payment processes, allow transaction reporting, and facilitate service requests directly from mobile devices.

7) Answer: B

Short Explanation:

Piramal Capital and Housing Finance Limited (referred to as Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (‘PEL’), and Central Bank of India, have announced a strategic partnership to expand their co-lending business.

Branch Network: Piramal Finance has a significant presence with over 500 branches across 600 districts in 26 states in India, providing extensive coverage to reach potential borrowers.

Detailed Explanation:

Business Strategy: This partnership will leverage Central Bank of India’s extensive branch network and Piramal Finance’s “High Tech + High Touch” strategy, which combines technology with personalized service to enhance the customer experience.

Branch Network: Piramal Finance has a significant presence with over 500 branches across 600 districts in 26 states in India, providing extensive coverage to reach potential borrowers.

8) Answer: B

Short Explanation:

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Unified Pension Scheme (UPS).

Minimum Pension:

Amount: ₹10,000 per month.

Eligibility: Minimum 10 years of service.

Detailed Explanation:

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Unified Pension Scheme (UPS).

The salient features of the UPS are: Assured Pension:

Eligibility: 25 years of service.

Benefit: 50% of the average basic pay drawn in the last 12 months before retirement.

For Lesser Service Periods: Proportionate pension for service between 10 to 25 years.

Assured Family Pension:

Benefit: 60% of the employee’s pension before their death.

Minimum Pension:

Amount: ₹10,000 per month.

Eligibility: Minimum 10 years of service.

9) Answer: E

Short Explanation:

The Spices Board of India has launched a transformative scheme aimed at significantly enhancing the export of spices and value-added spice products as well as improving the productivity of cardamom and upgrading the post-harvest quality of spices for exports.

Duration: Until FY 2025-26, during the remaining period of the 15th Finance Commission cycle.

Headquarters: Kochi, Kerala.

Detailed Explanation:

Duration: Until FY 2025-26, during the remaining period of the 15th Finance Commission cycle.

Total Approved Outlay: ₹422.30 crore.

Mission Value Addition: Focus on increasing value-added products.

Mission Clean and Safe Spices: Ensure quality and safety standards.

Promotion of GI Spices: Support for Geographical Indication (GI) spices.

Spice Incubation Centres: Support entrepreneurship in the spice sector.

Role: Regulatory and export promotion agency for Indian spices.

Headquarters: Kochi, Kerala.

10) Answer: B

Short Explanation:

Dabur, one of India’s leading Fast-Moving Consumer Goods (FMCG) giants, will invest Rs 400 crore to set up a world-class manufacturing plant, its first ever in south India, at the Sipcot Food Park in Tindivanam in Villupuram district.

Detailed Explanation:

Employment: Over 250 jobs expected to be generated by the facility.

Industries Minister’s Statement: TRB Rajaa emphasized that the plant will create new opportunities for local farmers to sell agro-products.

Chief Secretary Presence: N Muruganandam attended the MoU signing.

State’s Industrial Ecosystem: Dabur’s decision highlights Tamil Nadu’s thriving industrial environment and availability of skilled labor.

Range: The plant will produce Ayurvedic healthcare, personal care, and homecare products, including Dabur Honey, Dabur Red toothpaste, and Odonil air fresheners.

Previous Approval: Dabur India’s board had approved a ₹135 crore investment in January for this facility.

11) Answer: C

Short Explanation:

President Droupadi Murmu conferred the first-ever Vigyan Ratna Puraskar — India’s top science award — on noted biochemist and former director of the Bangalore-based Indian Institute of Science Govind Rajan Padmanabhan

Vigyan Team Award: Given to the Chandrayaan-3 mission team, received by Project Director P Veeramuthuvel.

Detailed Explanation:

Vigyan Shri Puraskar: 13 awards.

Vigyan Yuva-Shanti Swarup Bhatnagar Prizes: 18 awards.

Vigyan Team Award: Given to the Chandrayaan-3 mission team, received by Project Director P Veeramuthuvel.

New Awards System:

Rashtriya Vigyan Puraskar: New set of awards instituted by the government last year, replacing previous science awards.

Recognition:

Awards: All recipients received a medal and citation for their significant contributions in their respective fields.

12) Answer: D

Short Explanation:

GAIL (India) Limited and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India, based on bio-ethanol produced in the plant in a 50:50 Joint Venture (JV) mode.

Detailed Explanation:

GAIL (India) Limited and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up of a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India, based on bio-ethanol produced in the plant in a 50:50 Joint Venture (JV) mode.

GAIL’s Commitment: Sumit Kishore highlighted GAIL’s dedication to sustainable development and clean energy infrastructure in India.

Petron’s Expertise: Petron’s role as a leader in bio-ethanol to bio-ethylene technology.

Goals: To advance sustainable practices and enhance the bio-economy in India.

Expected Outcomes: Technological advancements, economic growth, and environmental sustainability.

13) Answer: B

Short Explanation:

The Centre has roped in private consulting firm MicroSave to optimize utilisation of the Community Investment Support Fund (CIF) a nd enhance the effectiveness and sustainability of organizations working under the Rural Livelihood Mission.

Disbursed Amount: ₹22,296 crore under NRLM since its launch in June 2011.

Detailed Explanation:

Initial Actions: Assess current financial status of CLFs.

Strategic Interventions: Provide recommendations to optimize CIF disbursement and enhance financial services for Self-Help Groups (SHGs).

Disbursed Amount: ₹22,296 crore under NRLM since its launch in June 2011.

Ultimate Objective: Transform selected CLFs into microcredit institutions capable of effective financial service delivery to SHG members.

14) Answer: A

Short Explanation:

Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises (MSME) signed an important MoU with the Department of Posts working under the Ministry of Communications at KVIC

Detailed Explanation:

Maximum Project Cost:

Manufacturing Sector: ₹50 lakh.

Business/Service Sector: ₹20 lakh.

Subsidy:

Manufacturing Upgradation: Maximum ₹1 crore (subsidy up to ₹15 lakh, ₹20 lakh for NER and Hill states).

Business/Service Upgradation: Maximum ₹25 lakh (subsidy up to ₹3.75 lakh, ₹5 lakh for NER and Hill states).

Beneficiaries: Individuals above 18 years of age; no income ceiling.

Ineligible Costs: Land cost and projects without capital expenditure.

Financial Institutions: Public Sector Banks, Regional Rural Banks, Co-operative Banks, Private Sector Banks, and SIDBI.

Sanction: 90% for general category, 95% for special category.

Interest: Normal rate; repayment over 3 to 7 years with a moratorium as prescribed by the bank.

15) Answer: D

Short Explanation:

Raksha Mantri Shri Rajnath Singh inaugurated the newly-constructed state-of-the-art Indian Coast Guard (ICG) Maritime Rescue Coordination Centre building in Chennai, Tamil Nadu.

He also virtually launched the Regional Marine Pollution Response Centre, located at the Chennai Port premises, and the Coast Guard Air Enclave in Puducherry.

Detailed Explanation:

Raksha Mantri Shri Rajnath Singh inaugurated the newly-constructed state-of-the-art Indian Coast Guard (ICG) Maritime Rescue Coordination Centre building in Chennai, Tamil Nadu.

He also virtually launched the Regional Marine Pollution Response Centre, located at the Chennai Port premises, and the Coast Guard Air Enclave in Puducherry.

The creation of this centre was first announced by Raksha Mantri Shri Rajnath Singh during the maiden Indo-ASEAN meeting held in Cambodia on November 22, 2022.

Coast Guard Air Enclave : This facility marks a significant milestone for ICG and will play a vital role in maritime security along the Puducherry and south Tamil Nadu coast.

The Air Enclave will be equipped with Chetak and Advanced Light Helicopter Squadrons.

16) Answer: A

Short Explanation:

A satellite named Tanager-1, developed by a coalition of companies and organizations including the National Aeronautics and Space Administration’s (NASA’s) Jet Propulsion Laboratory, was launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.

Surface Coverage: The satellite can scan 130,000 square kilometers of Earth’s surface per day.

Detailed Explanation:

A satellite named Tanager-1, developed by a coalition of companies and organizations including National Aeronautics and Space Administration’s (NASA’s) Jet Propulsion Laboratory, was launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.

Surface Coverage: The satellite can scan 130,000 square kilometers of Earth’s surface per day.

Comparison to MethaneSAT: The launch of Tanager-1 follows the earlier launch of MethaneSAT in March, which also tracks and measures methane emissions.

Methane is the second-largest contributor to global warming after carbon dioxide, making the monitoring and reduction of its emissions crucial for combating climate change.

17) Answer: D

Short Explanation:

Women’s Equality Day is observed on August 26 every year to commemorate the right of women to vote in the United States.

Date of First Celebration: August 26, 1973.

Detailed Explanation:

Women’s Equality Day is observed on August 26 every year to commemorate the right of women to vote in the United States.

Date of First Celebration: August 26, 1973.

Event Marked: The anniversary of the 19th Amendment’s certification.

1971: Congresswoman Bella Abzug introduced a resolution to establish August 26 as Women’s Equality Day, inspired by the Women’s Strike for Equality.

1972: President Richard Nixon issued Proclamation 4147, officially designating August 26 as Women’s Equality Day.

August 16, 1973: Congress formally designated August 26 as Women’s Equality Day through H.J. Res. 52, with President Nixon issuing Proclamation 4236.

18) Answer: C

Short Explanation:

India’s National Aerospace Laboratories (NAL) developed the ‘Kamikaze’ drone, featuring an indigenously built engine and a range of 1,000 kilometres.

Drone Specifications: The drone measures approximately 2.8 metres in length with a 3.5-meter wingspan and weighs about 120 kilograms.

Detailed Explanation:

India’s National Aerospace Laboratories (NAL) developed the ‘Kamikaze’ drone, featuring an indigenously built engine and a range of 1,000 kilometres.

Drone Specifications: The drone measures approximately 2.8 metres in length with a 3.5-meter wingspan and weighs about 120 kilograms.

Engine and Speed: It is powered by a 30-horsepower Wankel Engine, enabling speeds of up to 180 kilometers per hour.

Payload and Range: It is Capable of carrying a 25-kilogram explosive payload, the drone is designed for extended combat scenarios.

Combat Relevance : Kamikaze drones, also known as loitering munitions, have gained prominence in contemporary conflicts, including the ongoing Russia-Ukraine war and the Israel-Hamas conflict in Gaza.

Navigation Capabilities : Equipped with the Indian NAViC system, these UAVs can navigate and acquire targets even in areas where GPS signals are jammed or unavailable.

19) Answer: D

Short Explanation:

Nokia has joined hands with Axiom Space to integrate advanced 4G/LTE communication capabilities into the next-generation spacesuits that will be used for the Artemis III mission, NASA’s ambitious plans to land humans at the south pole of the moon.

The Artemis-III mission is likely to be launched in 2026 and Nokia plans to build the first cellular network on the moon, which would be in-built in the space suits used by astronauts.

Detailed Explanation:

The Artemis-III mission is likely to be launched in 2026 and Nokia plans to build the first cellular network on the moon, which would be in-built in the space suits used by astronauts.

Nokia and Axiom Space will incorporate high-speed cellular-network capabilities in the Axiom Extravehicular Mobility Unit (AxEMU), supporting HD video, telemetry data and voice transmission over multiple kilometres on the Moon.

The Lunar Surface Communications System (LSCS), pioneered by Nokia Bell Labs’ research and innovation, will be deployed during IM-2 and will be further adapted for use in the AxEMU spacesuit.

20) Answer: D

Short Explanation:

Experian India, a leader in data and technology, has unveiled AiDRIAN, an advanced tool that detects potential fraud.

AiDRIAN detects potential fraud at its source, preventing the possibility of financial loss in real-time.

The platform integrates device profiling, analysing over 150 device parameters to create unique device IDs and identify anomalies.

Detailed Explanation:

Experian India, a leader in data and technology, has unveiled AiDRIAN, an advanced tool that detects potential fraud.

AiDRIAN detects potential fraud at its source, preventing the possibility of financial loss in real-time.

The platform integrates device profiling, analysing over 150 device parameters to create unique device IDs and identify anomalies.

According to Experian’s 2024 Future of Fraud Forecast report, nearly 70% of businesses report increased fraud losses in recent years, and over half of consumers feel more vulnerable to fraud than before.

The AI tool has a machine learning model which is self-learning and continuously re-trained with new data, offering increasingly accurate recommendations over time.

This post was last modified on August 27, 2024 11:59 am

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Daily Current Affairs Quiz – 25th & 26th August 2024

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