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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 29th June 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) In June 2024, the Reserve Bank of India expresses concerns about delinquencies in non-banking finance companies’ consumer credit. First, delinquency rates among borrowers with retail loans of less than how many rupees remain high?

(a) Rs.20000

(b) Rs.30000

(d) Rs.50000

(e) Rs.80000

2) In June 2024, Which Small Finance Bank Limited’s board of directors approved plans to raise Rs 11,000 crore in equity and debt?

(a) Jana Small Finance Bank

(b) AU Small Finance Bank

(d) Utkarsh Small Finance Bank

(e) Capital Small Finance Bank

3) As per the report, With the approval of the Indian government, the Reserve Bank of India (RBI) has agreed to implement a revised framework on currency exchange arrangements for SAARC (South Asian Association for Regional Cooperation) countries for the 2024–2027 period. How many nations are members of SAARC?

(a) 7

(b) 8

(d) 11

(e) 13

4) According to the RBI’s Financial Stability Report, Indian banks’ gross non-performing asset (GNPA) ratio fell to a 12-year low of what percentage in March 2024 and is predicted to fall even lower to 2.5% by the end of the fiscal year 2024-25?

(a) 2.6%

(b) 3.0%

(d) 2.8%

(e) 2.9%

5) In June 2024, Which bank plans to raise up to Rs 6,500 crore ($779 million) through a combination of share and loan offerings?

(a) DBS bank

(b) RBL bank

(d) Axis bank

(e) HDFC bank

6) According to the National Council of Applied Economic Research’s (NCAER) Monthly Economic Review, GDP growth in 2024-25 (FY25) could range from more than 7% to close to what percentage?

(a) 7.8%

(b) 7.6%

(d) 7.7%

(e) 7.9%

7) The Central Institute of Mining and Fuel Research (CSIR-CIMFR) has begun its coal gasification-focused workshop, CARING-2024, which will run for how many days?

(a) 2days

(b) 3days

(d) 5days

(e) 7days

8) In which edition of the Network Planning Group (NPG) meeting, which was led by DPIIT’s Additional Secretary, Shri Rajeev Singh Thakur, in New Delhi, was the evaluation of eight major infrastructure projects the main focus?

(a) 72nd

(b) 73rd

(d) 70th

(e) 74th

9) In which country did Dr. Chandra Shekhar Kumar, Additional Secretary, Ministry of Panchayati Raj, represent India at the three-day CLGF Annual Board Meeting?

(a) UAE

(b) Srilanka

(d) Canada

(e) Finland

10) Which smartphone application was built by the RPF Tech Team and released by Railway Protection Force (RPF) Director General Shri Manoj Yadava to offer comprehensive information on three new Criminal Acts?

(a) ePathshala

(b) Sangyaan

(d) AwaasApp

(e) Anuvadini

11) In June 2024, Union Minister Dr. Jitendra Singh will host a curtain raiser for the launch of the National Database for Emergency Management (NDEM Ver. 5.0) and the geoportals Bhuvan Panchayat (Ver. 4.0). In order to facilitate sustainable development, disaster management, and governance throughout India, which organization created these geospatial databases and geoportals?

(a) BRO

(b) ISRO

(d) Indian Army

(e) Larsen & Turbo

12) In June 2024,Dr. Jitendra Singh, the Honorable Union Minister of State for Science and Technology, launched the One Week One Theme (OWOT) Campaign. How many CSIR laboratories started doing things that were related to this theme?

(a) 5

(b) 6

(d) 8

(e) 9

13) Paraguay is the 100th nation to formally join the International Solar Alliance (ISA). Which country got the Instrument of Ratification to become the ISA’s 99th member on May 21, 2024 earlier this year(2024)?

(a) Canada

(b) Spain

(d) Germany

(e) Finland

14) What percentage of Chennai-based India Cements Ltd (ICL) has been acquired by UltraTech Cement, under the leadership of Kumar Mangalam Birla, for a reported sum of Rs 1,889 crore?

(a) 22%

(b) 21%

(d) 23%

(e) 27%

15) How much per cent has the average monthly GST collection climbed from ₹90,000 crore in 2017-18 to 1.68 trillion by 2023-24?

(a) 87 per cent

(b) 85 percent

(d) 80 percent

(e) 88 percent

16) Which state has granted the state-owned engineering company Bharat Heavy Electricals Ltd (BHEL) a substantial contract worth Rs 13,300 crore to build a 1600 MW thermal power plant?

(a) Sikkim

(b) Rajasthan

(d) Haryana

(e) Odisha

17) In June 2024, Mark Rutte, the Dutch Prime Minister, will succeed Jens Stoltenberg as Secretary General of which organisation?

(a) ADB

(b) ASEAN

(d) UNICEF

(e) NATO

18) As per the report, Fairfax Group, owned by Canadian billionaire Prem Watsa, sold a 9.7% share in which bank through its subsidiary FIH Mauritius Investments?

(a) DBS bank

(b) RBL bank

(d) Axis bank

(e) CSB bank

19) The Defence Research and Development Organisation (DRDO) has completed ____________ consecutive developmental trials of the High-Speed Expendable Aerial Target (HEAT) ‘ABHYAS’ with upgraded booster design at the Integrated Test Range (ITR) in Chandipur, Odisha.

(a) 5

(b) 6

(d) 8

(e) 9

20) The Indian Naval Ship Sunayana has arrived in Port Victoria, Seychelles, as part of an extended deployment in the Indian Ocean Region. The ship’s arrival coincides with which edition of Seychelles National Day on June 29, 2024?

(a) 45th

(b) 47th

(d) 49th

(e) 46th

21) Which is the 4^th& final satellite in a series developed by NOAA and NASA. When it enters geostationary orbit, it will be called GOES-19?

(a) GOES-T

(b) GOES-U

(d) GOES-D

(e) GOES-O

22) Carlos Alcaraz won his first French Open championship in June 2024, becoming the youngest male tennis player to win on all three surfaces (hard, grass, and clay). Alcaraz joins an elite club of ____ other male players who have accomplished this achievement.

(a) 5

(b) 6

(d) 8

(e) 9

23) When was SpaceX founded?

(a) 2000

(b) 2001

(d) 2003

(e) 2005

24) How many member countries are there in NATO?

(a) 30

(b) 32

(d) 34

(e) 35

25) The National Council of Applied Economic Research (NCAER) is India’s oldest and largest independent, non-profit economic policy research organization. Where is the NCAER headquarters located?

(a) Mumbai

(b) New Delhi

(d) Kolkata

(e) Bengaluru

Answers :

1) Answer: D

Short Explanation:

While there has been an improvement in the overall credit quality of consumer credit, the Reserve Bank of India’s Financial Stability Report highlighted 3 areas of concern regarding consumer loans from non-banking finance companies (NBFC).
Delinquency Levels and Borrower Profiles:First, delinquency levels among borrowers with retail loans below Rs 50,000 remain high.
Vintage Delinquency in Personal Loans:Second, vintage delinquency, which is a measure of slippage, remains relatively high in personal loans at 8.2%.
Borrower Behaviour and Loan Stacking:The third aspect, the report says, is that a little more than half of the borrowers in this segment have three live loans at the time of origination and more than one-third of the borrowers have availed more than three loans in the last six months.

Detailed Explanation:

While there has been an improvement in the overall credit quality of consumer credit, the Reserve Bank of India’s Financial Stability Report highlighted 3 areas of concern regarding consumer loans from non-banking finance companies (NBFC).
Delinquency Levels and Borrower Profiles:First, delinquency levels among borrowers with retail loans below Rs 50,000 remain high.
Vintage Delinquency in Personal Loans:Second, vintage delinquency, which is a measure of slippage, remains relatively high in personal loans at 8.2%.
Borrower Behaviour and Loan Stacking:The third aspect, the report says, is that a little more than half of the borrowers in this segment have three live loans at the time of origination and more than one-third of the borrowers have availed more than three loans in the last six months.
Regulatory Action and Impact on NBFCs:In November,2023 the regulator increased risk weights for unsecured loans for both banks and NBFCs.
Following this increase, the share of unsecured loans in the total advances of NBFCs dropped sharply to 22.9% in March 2024, down from 32.2% in March 2023.
Moderation in Retail Lending Growth:Retail lending by NBFCs experienced a slowdown in growth, decreasing to 14.8% in March 2024 compared to 16.6% in March 2023.

2) Answer: B

Short Explanation:

The board of directors of AU Small Finance Bank Limited. approved plans to raise Rs 11,000 crore through equity and debt instruments.
Rs 5,000 crore will be raised through qualified institutional placement (QIP) and other modes, subject to regulatory approvals.
Another Rs 6,000 crore will be raised via debt instruments such as bonds and non-convertible debentures, approved by the RBI.

Detailed Explanation:

The board of directors of AU Small Finance Bank Limited. approved plans to raise Rs 11,000 crore through equity and debt instruments.
Rs 5,000 crore will be raised through qualified institutional placement (QIP) and other modes, subject to regulatory approvals.
Another Rs 6,000 crore will be raised via debt instruments such as bonds and non-convertible debentures, approved by the RBI.
As of March 2024, AU Small Finance Bank reported gross advances of Rs 73,999 crore and deposits of Rs 87,182 crore.
Its advances grew 25% year-on-year growth while deposit rose 26%.
In another development, microfinance lender Satin Creditcare Network plans to raise Rs 50 crore through private placement of bonds at a 10.5% annual interest rate, payable monthly, starting July 4 for a 30-month period.

3) Answer: B

Short Explanation:

The Reserve Bank of India (RBI), with the Government of India’s concurrence, has decided to put in place a revised framework for currency swap arrangements for SAARC (South Asian Association for Regional Cooperation) countries for the period 2024 to 2027.
SAARC has 8 member countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri-Lanka).

Detailed Explanation:

The Reserve Bank of India (RBI), with the Government of India’s concurrence, has decided to put in place a revised framework for currency swap arrangements for SAARC (South Asian Association for Regional Cooperation) countries for the period 2024 to 2027.
SAARC has 8 member countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri-Lanka).
Bilateral Swap Agreements : Under this Framework, the RBI would enter into bilateral swap agreements with SAARC central banks, who want to avail of the swap facility.
INR Swap Window : Under the Framework for 2024-27, a separate INR Swap Window has been introduced with various concessions for swap support in Indian Rupee.
The total corpus of the Rupee support is ₹250 billion.
USD/Euro Swap Window : The RBI will continue to offer swap arrangements in US$ and Euro under a separate US Dollar/ Euro Swap Window with an overall corpus of US$ 2 billion.

4) Answer: D

Short Explanation:

According to the RBI’s Financial Stability Report, the gross non-performing asset (GNPA) ratio of Indian banks fell to a 12-year low of 2.8% in March 2024 and is expected to reduce further down to 2.5% by the end of the financial year 2024-25.

What is the gross non-performing asset ratio for banks?

This ratio refers to the proportion of the total value of bad loans, which are bank loans that are unlikely to be repaid (also known as gross non-performing assets), to the total assets the bank has or the total loans it has given.

Detailed Explanation:

According to the RBI’s Financial Stability Report, the gross non-performing asset (GNPA) ratio of Indian banks fell to a 12-year low of 2.8% in March 2024 and is expected to reduce further down to 2.5% by the end of the financial year 2024-25.

What is the gross non-performing asset ratio for banks?

This ratio refers to the proportion of the total value of bad loans, which are bank loans that are unlikely to be repaid (also known as gross non-performing assets), to the total assets the bank has or the total loans it has given.
A lower GNPA ratio means the number of loans that may go unpaid are less and can be a positive indicator.
In September, the ratio was 3.2%, highlighting a significant improvement now.

What is the net non-performing asset ratio for banks?

The net non-performing asset (NNPA) ratio also declined to 0.6% this March, compared to 0.8% last September.
The NNPA ratio is the proportion of bad loans which the bank has actually created a provision for, compared to the total assets of the bank.

5) Answer: B

Short Explanation:

Indian private lender RBL Bank will raise up to Rs 6,500 crore ($779 million) through a combination of qualified institutional placement (QIP) of shares and debt sale.
The bank will raise Rs 3,500 crore through QIP and Rs 3,000 crore through issue of debt securities via private placement.
This will be RBL’s first share issue via institutional placement since 2021 when the bank saw an abrupt management transition and the central bank increased scrutiny of the lender by temporarily appointing a director on its board amid reports of a large share of unsecured borrowing on its books.

Detailed Explanation:

Indian private lender RBL Bank will raise up to Rs 6,500 crore ($779 million) through a combination of qualified institutional placement (QIP) of shares and debt sale.
The bank will raise Rs 3,500 crore through QIP and Rs 3,000 crore through issue of debt securities via private placement.
This will be RBL’s first share issue via institutional placement since 2021 when the bank saw an abrupt management transition and the central bank increased scrutiny of the lender by temporarily appointing a director on its board amid reports of a large share of unsecured borrowing on its books.
RBL Bank aims to bolster its capital base to support a targeted 20% growth in its loan book over the next two financial years.
The growth will primarily focus on increasing secured retail assets.
In fiscal 2024, RBL Bank reported a 20% growth in advances and a 22% growth in deposits.
A QIP is a method for a publicly traded firm to raise funds by issuing equity shares, fully and partially convertible debentures, or other instruments.

6) Answer: C

Short Explanation:

The National Council of Applied Economic Research’s (NCAER) Monthly Economic Review suggests that Gross domestic product (GDP) growth for 2024-25 (FY25) could range between higher than 7% and close to 7.5%.
RBI and Other Agencies’ Projections:RBI has revised India’s real GDP growth projection for FY25 to 7.2% from 7%.Various other agencies have upgraded their growth projections, with a median forecast of around 6.9%.

Detailed Explanation:

The National Council of Applied Economic Research’s (NCAER) Monthly Economic Review suggests that Gross domestic product (GDP) growth for 2024-25 (FY25) could range between higher than 7% and close to 7.5%.
RBI and Other Agencies’ Projections:RBI has revised India’s real GDP growth projection for FY25 to 7.2% from 7%.Various other agencies have upgraded their growth projections, with a median forecast around 6.9%.
The growth rate is projected to be between 2.6 and 3.2% in 2024.
Inflation and Economic Indicators:Retail inflation decreased to a 12-month low of 4.7% in May 2024.
Challenges remain in taming food inflation despite overall moderation.
Among high-frequency indicators, growth in the Index of Industrial Production (IIP) for core industries accelerated in April 2024.
Key economic indicators such as the Purchasing Managers’ Index (PMI), Index of Industrial Production (IIP), and Goods and Services Tax (GST) collections reflect ongoing expansion across manufacturing, services, and core industries.

7) Answer: A

Short Explanation:

The Central Institute of Mining and Fuel Research (CSIR-CIMFR) has launched its two-day workshop, CARING-2024, focused on coal gasification.
This event, hosted at the CSIR-CIMFR Digwadih Campus on June 26-27, 2024, has attracted over 75 participants from leading organizations such as Coal India Limited (CIL), Steel Authority of India Limited (SAIL), Jindal Steel and Power Limited (JSPL) Angul, Hindalco Industries, and Thermax, among others.

8) Answer: B

Short Explanation:

The 73rd meeting of the Network Planning Group (NPG), held in New Delhi and chaired by Shri Rajeev Singh Thakur, Additional Secretary of DPIIT, focused on evaluating eight significant infrastructure projects.
These projects spanned across the Ministry of Railways (MoR) and the National Industrial Corridor Development Corporation (NICDC), aiming to bolster connectivity, enhance logistics, and promote industrial growth across various regions of India.

Detailed Explanation:

The 73rd meeting of the Network Planning Group (NPG), held in New Delhi and chaired by Shri Rajeev Singh Thakur, Additional Secretary of DPIIT, focused on evaluating eight significant infrastructure projects.
These projects spanned across the Ministry of Railways (MoR) and the National Industrial Corridor Development Corporation (NICDC), aiming to bolster connectivity, enhance logistics, and promote industrial growth across various regions of India.

Projects Evaluated:

Ministry of Railways Projects:
- Manmad to Jalgaon Railway Line (160 kms): This project, with an investment of INR 2,594 crores, aims to construct the 4th broad gauge railway line. It intends to increase section capacity, facilitating smoother movement of cargo and passenger trains in Maharashtra’s Nashik and Jalgaon districts.
- Bhusawal to Burhanpur and Khandwa Railway Lines (130.5 kms): Estimated at INR 3,285 crores, this project involves constructing the 3rd & 4th broad gauge railway lines. It aims to enhance section capacity, promote regional development, and bolster Indian Railways’ role in the logistics sector, supporting economic growth in Maharashtra and Madhya Pradesh.
NICDC Projects:
- Integrated Manufacturing Clusters (IMCs) in Agra, Prayagraj, Hisar, and Gaya: These projects, with an investment of INR 8,175 crores, aim to develop advanced manufacturing hubs adhering to Industry 4.0 standards.
- Oravakal and Kopparthy Industrial Areas in Andhra Pradesh: With an investment of INR 5,367 crores, these projects aim to create advanced infrastructure near major transportation nodes.

9) Answer: B

Short Explanation:

Additional Secretary, Ministry of Panchayati Raj, Dr. Chandra Shekhar Kumar represented India at the three-day meeting of CLGF Annual Board in Colombo, Sri Lankafrom 25th – 27th June 2024.
The conference facilitated regional exchange and priority setting for ongoing initiatives in Commonwealth Asia.
Prime Minister of Sri Lanka, Shri Dinesh Gunawardena inaugurated CLGF’s Commonwealth Women in Local Government Network South Asia Regional Meeting on “Reinforcing Social Resilience through Women’s Political Representation”.

Detailed Explanation:

Additional Secretary, Ministry of Panchayati Raj, Dr. Chandra Shekhar Kumar represented India at the three-day meeting of CLGF Annual Board in Colombo, Sri Lanka during 25th – 27th June 2024.
The conference facilitated regional exchange and priority setting for ongoing initiatives in Commonwealth Asia.
Prime Minister of Sri Lanka, Shri Dinesh Gunawardena inaugurated CLGF’s Commonwealth Women in Local Government Network South Asia Regional Meeting on “Reinforcing Social Resilience through Women’s Political Representation”.
India boasts 46% representation of women in local body positions within PRIs, surpassing the global average of 36%.
This high representation is supported by constitutional mandates, socio-economic improvements, and government schemes aimed at women’s empowerment.

Government Support and Initiatives:

The Government of India supports women’s empowerment through various schemes focusing on education, health, economic empowerment, digital literacy, leadership skills, and security.
Initiatives like e-Governance have enhanced digital proficiency among Panchayat representatives, with 90% of Gram Panchayats uploading online development plans and financial transactions.

Achieving Sustainable Development Goals (SDGs):

Women’s significant role in decision-making processes at the grassroots level is crucial for achieving the UN’s 2030 Agenda for Sustainable Development.
India has adopted Localization of SDGs to empower women in local governance and advance sustainable development initiatives.

10) Answer: B

Short Explanation:

The Director General of Railway Protection Force (RPF) Shri Manoj Yadava launched the mobile application-Sangyaan App, designed and developed by the Tech Team of RPF to provide in-depth information on three new Criminal Acts: the Bharatiya Nyaya Sanhita (BNS) 2023, the Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and the Bharatiya Sakshya Adhiniyam (BSA) 2023.
Comprehensive Legal Access: The app provides easy access to the bare acts of BNS, BNSS, and BSA 2023, all optimized for mobile viewing. Users can conveniently read, search and refer to these laws on the go.

Detailed Explanation:

The Director General of Railway Protection Force (RPF) Shri Manoj Yadava launched the mobile application-Sangyaan App, designed and developed by the Tech Team of RPF to provide in-depth information on three new Criminal Acts: the Bharatiya Nyaya Sanhita (BNS) 2023, the Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and the Bharatiya Sakshya Adhiniyam (BSA) 2023.

Key Features of Sangyaan App:

Comprehensive Legal Access: The app provides easy access to the bare acts of BNS, BNSS, and BSA 2023, all optimized for mobile viewing. Users can conveniently read, search and refer to these laws on the go.
Section wise analysis: The key sections of the BNSS and BNS are analyzed in detail, focusing on their applicability in field operations for various provisions and procedural perspective.
Advanced Search Tools: Sangyaan offers advanced search functionalities, allowing users to navigate efficiently through the legal texts. Users can search section-wise, chapter-wise, and subject-wise, making it easier to find relevant information quickly.
Inclusive Legal Database: In addition to the three new laws, the app includes other essential legal acts and rules related to railway security. This includes The Railway Protection Force Act, 1957, The Railway Act, 1989, The Railway Property (Unlawful Possession) Act, 1966 and RPF Rules, 1987. This comprehensive database ensures that users have access to all critical legal information relevant to railway protection at fingertips.

11) Answer: B

Short Explanation:

Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, will inaugurate two Geoportals in New Delhi.

Purpose and Development

The Indian Space Research Organisation (ISRO) has developed these geospatial databases and geoportals to support governance, sustainable development, and disaster management across India.

Detailed Explanation:

Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, will inaugurate two Geoportals in New Delhi.

Purpose and Development

The Indian Space Research Organisation (ISRO) has developed these geospatial databases and geoportals to support governance, sustainable development, and disaster management across India.
These initiatives are tailored to meet the specific needs of various Ministries and Departments of the Government of India.

Geoportals Overview

Bhuvan Panchayat (version 4.0): This portal is designed for decentralized planning under the Ministry of Panchayati Raj.

National Database for Emergency Management (NDEM version 5.0): This portal supports disaster management efforts under the Ministry of Home Affairs

12) Answer: C

Short Explanation:

The One Week One Theme (OWOT) Campaign was inaugurated by Hon’ble Union Minister of State for S&T Dr. Jitendra Singh, alongside DG CSIR Dr. N. Kalaiselvi at India Habitat Centre, Delhi.
7 CSIR labs initiated activities aligned with this theme.
The OWOT campaign spans 8 themes identified by CSIR, with all 37 CSIR labs scheduled to conduct specific programs corresponding to each theme.

Detailed Explanation:

The One Week One Theme (OWOT) Campaign was inaugurated by Hon’ble Union Minister of State for S&T Dr. Jitendra Singh, alongside DG CSIR Dr. N. Kalaiselvi at India Habitat Centre, Delhi.
7 CSIR labs initiated activities aligned with this theme.
The OWOT campaign spans 8 themes identified by CSIR, with all 37 CSIR labs scheduled to conduct specific programs corresponding to each theme.
CSIR-Central Institute of Mining and Fuel Research (CSIR-CIMFR), Dhanbad.
CSIR-National Geophysical Research Institute (CSIR-NGRI), Hyderabad. CSIR- Central Salt and Marine Chemicals Research Institute, (CSIR-CSMCRI) Bhavnagar,hosted a showcase on the latest advancements in hydrogen, batteries, alternate fuels, and solar energy as part of the CSIR One Week One Theme programme focusing on Energy and Energy Devices.
CSIR-Central Electrochemical Research Institute, (CSIR-CECRI) Karaikudi,has organized a display on hydrogen and batteries under the Energy and Energy Devices theme of the CSIR One Week One Theme programme.
CSIR -Central Mechanical Engineering Research Institute, (CSIR-CMERI) Durgapur, focused on hydrogen technology as part of the Energy and Energy Devices theme for the CSIR One Week One Theme programme.
CSIR-Central Glass & Ceramic Research Institute, (CSIR-CGCRI) Kolkata & CSIR-National Chemical Laboratory, (CSIR-NCL) Pune, hosted a symposium on “Catalysis and Renewable Energy towards meeting Sustainable Development Goals (SDG)” under the Energy and Energy Devices theme of the CSIR One Week One Theme programme.

13) Answer: B

Short Explanation:

Paraguay has become the 100th country to join as a full member of the International Solar Alliance (ISA).
Spain became the 99th member of the ISA earlier this year, as it handed over the Instrument of Ratification on May 21, 2024.

Detailed Explanation:

Paraguay has become the 100th country to join as a full member of the International Solar Alliance (ISA).
Ambassador of Paraguay, H.E. Mr. Fleming Raul Duarte, handed over the Instrument of Ratification during a meeting with Shri Abhishek Singh, Joint Secretary (ED & MER) and Head of Depository, in New Delhi.
Spain became the 99th member of the ISA earlier this year, as it handed over the Instrument of Ratification on May 21, 2024.

14) Answer: D

Short Explanation:

UltraTech Cement, led by Kumar Mangalam Birla, has announced the acquisition of a 23% stake in Chennai-based India Cements Ltd (ICL) for Rs 1,889 crore.
This move comes amidst a competitive drive to strengthen its position in the cement sector.

Key Details of the Acquisition:

Stake Acquisition: UltraTech Cement acquired 70.56 million shares of India Cements Ltd at an average price of Rs 268 per share in two block deals.
Seller: The shares were purchased from billionaire investor Radhakishan Damani and his associated entities.
Financial Investment: UltraTech described this acquisition as a “non-controlling financial investment,” emphasizing its strategic intent to bolster its presence in the industry.

Detailed Explanation:

UltraTech Cement, led by Kumar Mangalam Birla, has announced the acquisition of a 23% stake in Chennai-based India Cements Ltd (ICL) for Rs 1,889 crore.
This move comes amidst a competitive drive to strengthen its position in the cement sector.

Key Details of the Acquisition:

Stake Acquisition: UltraTech Cement acquired 70.56 million shares of India Cements Ltd at an average price of Rs 268 per share in two block deals.
Seller: The shares were purchased from billionaire investor Radhakishan Damani and his associated entities.
Financial Investment: UltraTech described this acquisition as a “non-controlling financial investment,” emphasizing its strategic intent to bolster its presence in the industry.

Sector Dynamics:

Competitive Landscape: The acquisition follows a trend of consolidation in the cement sector, highlighted by recent moves such as Adani group’s Ambuja Cements acquiring Penna Cements.
UltraTech’s Position: As India’s largest cement producer with a consolidated capacity of 152.7 million tonnes per annum (mtpa) of grey cement, UltraTech aims to leverage this stake acquisition to reinforce its market leadership.

15) Answer: A

Short Explanation:

The Goods and Services Tax (GST) system in India has shown signs of stability, as evidenced by consistent growth in tax collections over its seven-year history.
Average monthly GST collection rose from ₹90,000 crore during the first year of its implementation-2017-18 to 1.68 trillion during 2023-24, representing an 87 per cent rise.
Despite this, several challenges persist, including conflicting rulings from the Authority for Advance Rulings (AAR), delays in establishing effective appeal mechanisms for these rulings, and a rising number of litigations.

Detailed Explanation:

The Goods and Services Tax (GST) system in India has shown signs of stability, as evidenced by consistent growth in tax collections over its seven-year history.
Average monthly GST collection rose from ₹90,000 crore during the first year of its implementation-2017-18 to 1.68 trillion during 2023-24, representing an 87 per cent rise.
Despite this, several challenges persist, including conflicting rulings from the Authority for Advance Rulings (AAR), delays in establishing effective appeal mechanisms for these rulings, and a rising number of litigations.

Current Challenges:

Conflicting AAR Rulings: There have been instances where AAR rulings have contradicted each other, creating ambiguity for taxpayers and businesses.
Appeal Mechanisms: Delays in setting up robust mechanisms to appeal AAR decisions have hindered the resolution of disputes and added to administrative bottlenecks.
Litigations: The increasing number of litigations related to GST points to ongoing complexities and interpretations that need clarity.

Transition to GST 2.0:

Despite these challenges, the steady increase in GST revenues suggests a conducive environment for transitioning towards GST 2.0. This next phase of reforms could include:

Rate Rationalisation: Adjusting GST rates to simplify the tax structure and reduce compliance burdens.
Inclusion of Petrol and Diesel: Bringing petrol and diesel under the GST ambit, which could streamline tax administration and potentially lower consumer prices.

16) Answer: C

Short Explanation:

Bharat Heavy Electricals Ltd (BHEL), a state-owned engineering firm, has secured a significant contract worth Rs 13,300 crore from Damodar Valley Corporation (DVC) to establish a 1600 MW thermal power plant in Koderma, Jharkhand.
This project aligns with the central government’s objective of bolstering the nation’s energy security.

Detailed Explanation:

Bharat Heavy Electricals Ltd (BHEL), a state-owned engineering firm, has secured a significant contract worth Rs 13,300 crore from Damodar Valley Corporation (DVC) to establish a 1600 MW thermal power plant in Koderma, Jharkhand.
This project aligns with the central government’s objective of bolstering the nation’s energy security.

Key Details of the Project:

Project Scope: BHEL will undertake the engineering, procurement, and construction (EPC) for the Koderma Thermal Power Station (2X800MW) in Jharkhand.
Contract Finalization: The tender for this EPC package was finalized by DVC, marking a substantial investment in the region’s infrastructure.
Impact and Benefits: The project is expected to significantly enhance DVC’s thermal generation capacity, increasing it to 8140 MW by 2030. Beyond energy generation, the initiative is poised to stimulate the local economy, create employment opportunities, and benefit the community at large.

17) Answer: E

Short Explanation:

Mark Rutte, currently the Dutch Prime Minister, will succeed Jens Stoltenberg as the Secretary General of the North Atlantic Treaty Organization (NATO).
He will assume office on October 1, 2024, succeeding Stoltenberg who served for 10 years.
The Dutch leader, whose 14-year tenure in charge of the Netherlands is set to end within weeks, is seen as a safe pair of hands capable of stewarding NATO through perilous times.

Detailed Explanation:

Mark Rutte, currently the Dutch Prime Minister, will succeed Jens Stoltenberg as the Secretary General of the North Atlantic Treaty Organization (NATO).
He will assume office on October 1, 2024, succeeding Stoltenberg who served for 10 years.
The Dutch leader, whose 14-year tenure in charge of the Netherlands is set to end within weeks, is seen as a safe pair of hands capable of stewarding NATO through perilous times.
Rutte will be the 4th Dutchman to head the alliance since it was founded upon the ashes of World War II to face off against the Soviet Union.
Mark Rutte is a Dutch politician who has served as Prime Minister of the Netherlands since 2010.
He was the leader of the People’s Party for Freedom and Democracy (VVD) from 2006 through 2023.
He is currently acting in a demissionary capacity, scheduled to leave national politics following the installation of the next cabinet after the 2023 general election.

18) Answer: E

Short Explanation:

Fairfax Group, led by Canadian billionaire Prem Watsa, sold a 9.7% stake in CSB Bank via its arm FIH Mauritius Investments.
The transaction took place at an average price of Rs 352.75 per share, amounting to Rs 595.04 crore ($70 million).

Detailed Explanation:

Fairfax Group, led by Canadian billionaire Prem Watsa, sold a 9.7% stake in CSB Bank via its arm FIH Mauritius Investments.
The transaction took place at an average price of Rs 352.75 per share, amounting to Rs 595.04 crore ($70 million).
Details of the Sale:FIH Mauritius Investments offloaded over 16.8 million shares of CSB Bank through a block deal on the National Stock Exchange (NSE).
FIH Mauritius Investments is also the promoter of Thrissur-based CSB Bank.
After the share sale, shareholding of FIH Mauritius Investments in CSB Bank has declined to 40% from 49.72%.
Buyers : DSP Mutual Fund (MF), ICICI Prudential MF, WhiteOak Capital MF, Edelweiss Tokio Life Insurance Company, Goldman Sachs, Morgan Stanley, Amansa Holdings, and Abu Dhabi Investment Authority were among the buyers of CSB Bank’s shares.

19) Answer: B

Short Explanation:

The Defence Research and Development Organisation (DRDO) has successfully completed six consecutive developmental trials of High Speed Expendable Aerial Target (HEAT) ‘ABHYAS’ with improved booster configuration from the Integrated Test Range (ITR), Chandipur, Odisha.
With this, ABHYAS has successfully completed 10 developmental trials demonstrating the reliability of the system.
The trials were carried out with improved Radar Cross Section, Visual and Infrared augmentation systems.
ABHYAS has been designed by DRDO’s Aeronautical Development Establishment, Bengaluru, and developed through Production Agencies – Hindustan Aeronautics Limited & Larsen & Toubro (L&T).

Detailed Explanation:

The Defence Research and Development Organisation (DRDO) has successfully completed six consecutive developmental trials of High Speed Expendable Aerial Target (HEAT) ‘ABHYAS’ with improved booster configuration from the Integrated Test Range (ITR), Chandipur, Odisha.
With this, ABHYAS has successfully completed 10 developmental trials demonstrating the reliability of the system.
The trials were carried out with improved Radar Cross Section, Visual and Infrared augmentation systems.
ABHYAS has been designed by DRDO’s Aeronautical Development Establishment, Bengaluru, and developed through Production Agencies – Hindustan Aeronautics Limited & Larsen & Toubro (L&T).
It offers a realistic threat scenario for weapon systems practice.
This indigenous system is designed for autonomous flying with the help of an autopilot, a laptop-based Ground Control System for aircraft integration, pre-flight checks, and autonomous flight.
It also has a feature to record data during flight for post-flight analysis.
The booster has been designed by Advanced Systems Laboratory and the navigation system by Research Centre Imarat.
With identified production agencies, ABHYAS is now ready for production.

20) Answer: C

Short Explanation:

Indian Naval Ship (INS) Sunayna entered Port Victoria, Seychelles, on 26 June 2024 as part of her long-range deployment in the South Western Indian Ocean Region (IOR).
The ship’s visit coincides with the celebration of the 48th National Day of Seychelles on 29 June 24.

Detailed Explanation:

Indian Naval Ship (INS) Sunayna entered Port Victoria, Seychelles, on 26 June 2024 as part of her long-range deployment in the South Western Indian Ocean Region (IOR).
The ship’s visit coincides with the celebration of 48th National Day of Seychelles on 29 June 24.
An Indian Navy marching contingent along with a Naval band will participate in the military parade organised as part of the Seychelles National Day celebrations.
The deployment of an Indian Naval ship marks sustained participation of an Indian military contingent since 1976 reaffirming bonhomie between the two nations.
An aerial demonstration of the indigenously built Naval Advanced Light Helicopter (ALH) is also planned during the port call.
INS Sunayna is the second Saryu-class patrol vessel of the Indian Navy, designed and constructed indigenously by the Goa Shipyard Limited.

21) Answer: B

Short Explanation:

SpaceX’s Falcon Heavy, one of the world’s most powerful operational rockets, blasted off carrying into orbit a new US satellite designed to help weather forecasters monitor massive solar storms.
The rocket, consisting of 3 modified Falcon cores, launched from Florida’s Kennedy Space Center.
GOES-U Satellite : GOES-U is the 4th and final satellite in a series from NOAA (National Oceanic and Atmospheric Administration) and NASA.

Detailed Explanation:

SpaceX’s Falcon Heavy, one of the world’s most powerful operational rockets, blasted off carrying into orbit a new US satellite designed to help weather forecasters monitor massive solar storms.
The rocket, consisting of 3 modified Falcon cores, launched from Florida’s Kennedy Space Center.
GOES-U Satellite : GOES-U is the 4th and final satellite in a series from NOAA (National Oceanic and Atmospheric Administration) and NASA.
Once it reaches geostationary orbit, it will be renamed GOES-19.
GOES-16, the first satellite in the series, launched in 2016.
GOES-U will use a compact coronagraph to monitor solar storms, track hurricanes and lightning, take atmospheric measurements, and capture images of Earth.
Coronagraph Functionality : A coronagraph is a telescope designed to block out the light of the sun so that researchers can see its corona or outermost layer.
In Dec 2023, Falcon Heavy launched the world’s largest commercial communications satellite and, separately, the X-37B secretive spaceplane from the US Space Force.

22) Answer: B

Short Explanation:

In June 2024, Carlos Alcaraz clinched his first French Open title, making him the youngest male tennis player to win Grand Slam titles on all three surfaces: hard, grass, and clay.
Alcaraz joins an elite group of six other male players who have achieved this feat: Mats Wilander, Jimmy Connors, Andre Agassi, Rafael Nadal, Roger Federer, and Novak Djokovic.
At just 21, Alcaraz is the youngest among these all-surface elites.

Detailed Explanation:

In June 2024, Carlos Alcaraz clinched his first French Open title, making him the youngest male tennis player to win Grand Slam titles on all three surfaces: hard, grass, and clay.
Alcaraz joins an elite group of six other male players who have achieved this feat: Mats Wilander, Jimmy Connors, Andre Agassi, Rafael Nadal, Roger Federer, and Novak Djokovic.
At just 21, Alcaraz is the youngest among these all-surface elites.
For comparison, Nadal achieved this at 22, Wilander at 23, and the others at 26 or older.

Comparison with Female Players

Among women, five players have won Grand Slam titles on all three surfaces: Serena Williams, Steffi Graf, Martina Navratilova, Maria Sharapova, and Ashleigh Barty.
Notably, Steffi Graf managed this as a teenager, making her the youngest across both genders. Serena Williams achieved it at 20, a year younger than Alcaraz.

23) Answer: C

About SpaceX:

Founded on March 14, 2002.
Headquarters in Hawthorne, California, United States.
CEO & Chairman: Elon Musk.
Space Exploration Technologies Corporation (SpaceX) is a spacecraft manufacturer, launch service provider, and satellite communications company.

24) Answer: B

About NATO :

Established : 4 April 1949
Headquarters : Brussels, Belgium
Membership : 32 states (30 European and 2 North American)
NATO is an intergovernmental political and military alliance of North American and European countries.

25) Answer: B

About NCAER :

Established : 1956
Headquarters : New Delhi
President : Nandan M. Nilekani
Director General : Poonam Gupta
NCAER is India’s oldest and largest independent, non-profit, economic policy research think tank.

Daily Current Affairs Quiz – 29th June 2024

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