Daily Current Affairs Quiz – 31st August 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 31st 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 Fintech Association for Consumer Empowerment (FACE) is the first Self-Regulatory Organization (SRO-FT) in the FinTech industry, having been formally registered by the Reserve Bank of India (RBI). How much money need the applicant have as a minimum net worth within a year of recognition or prior to starting operations, whichever comes first?

(a) INR 2 Crores

(b) INR 1 Crore

(d) INR 4 Crores

(e) INR 5 Crores

2) Which year’s Securities Contracts Regulation Rules (SCRR) have been revised by the Department of Economic Affairs under the Ministry of Finance?

(a) 1952

(b) 1950

(d) 1956

(e) 1958

3) The Securities and Exchange Board of India (SEBI) has suggested that Qualified Stock Brokers (QSBs) provide a UPI-based block mechanism for secondary market trading, similar to the ASBA facility utilized in the primary market. SEBI has solicited public feedback on these ideas until when?

(a) September 30 2024

(b) November 30 2024

(d) September 12 2024

(e) October 15 2024

4) What is the minimum duration of time that the Securities and Exchange Board of India (SEBI) proposes to require all organizations under its regulation to keep communication records, including acknowledgements?

(a) 5years

(b) 1year

(d) 8years

(e) 10years

5) Which state’s Valsad Mahila Nagarik Sahakari Bank Ltd. is the target of a ₹1.25 lakh fine from the Reserve Bank of India (RBI)?

(a) Sikkim

(b) Gujarat

(d) Madhya Pradesh

(e) Karnataka

6) What percentage of deposits increased in FY24 compared to FY19, according to an analysis of Reserve Bank of India (RBI) statistics on deposits of scheduled commercial banks (including regional rural banks) from FY19 to FY24?

(a) 13.4%

(b) 13.2%

(d) 13.5%

(e) 13.6%

7) Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs, announced the launch of NPS Vatsalya, a new pension plan under the National Pension Scheme (NPS). Which Section allows tax deductions for contributions made to the NPS under this scheme?

(a) Section 81C

(b) Section 80C

(d) Section 85C

(e) Section 83C

8) The Ministry of Women and Child Development, led by Union Minister Smt. Annapurna Devi, has launched the new SHe-Box portal, a centralized platform for registering and monitoring complaints of sexual harassment of women at work under the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act in which year?

(a) 2011

(b) 2012

(d) 2014

(e) 2015

9) On National Sports Day, Union Minister Dr. Mansukh Mandaviya introduced the “Retired Sportsperson Empowerment Training” (RESET) Program. Which organization will carry out the RESET Program’s pilot phase?

(a) Indira Gandhi Institute of Physical Education

(b) Lakshmibai National Institute of Physical Education

(d) Chandrashekhar Agashe College Of Physical Education

(e) VNS College Of Physical Education

10) Which type of form, coupled with the Bhavishya and e-HRMS systems, is the New Single Simplified Pension Application established by the Department of Pension & Pensioners Welfare (DoPPW)?

(a) Form 6-A

(b) Form 5-A

(d) Form 7-A

(e) Form 8-A

11) The Union Cabinet Approves Financial Assistance for Hydroelectric Projects in the Northeast Region. What is the total budget for the program, which will run from FY 2024-25 to FY 2031-32?

(a) Rs.4132crore

(b) Rs.4130crore

(d) Rs.4136crore

(e) Rs.4138crore

12) How many new project ideas have been authorized by the Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, under the National Industrial Corridor Development Programme (NICDP)?

(a) 10

(b) 11

(d) 13

(e) 14

13) Pakistan has formally invited Prime Minister Narendra Modi to the forthcoming Shanghai Cooperation Organisation (SCO) conference, which will be held in Islamabad from October 15 to 16. Which country held the last SCO meeting?

(a) Russia

(b) Austria

(d) China

(e) USA

14) Finance Minister Nirmala Sitharaman allocated ₹26,000 crore for road improvements in which state in the 2024-25 Budget?

(a) Bihar

(b) Gujarat

(d) Madhya Pradesh

(e) Karnataka

15) The Anubhav site, which was launched in what year, provides as a forum for retired government personnel to chronicle and share their experiences and insights?

(a) 2012

(b) 2014

(d) 2016

(e) 2013

16) On World Environment Day, June 5, Prime Minister Narendra Modi launched the global campaign #एक_पेड़_मां_के_नाम #Plant4Mother. At which Wildlife Sanctuary did the Ministry’s tree planting operations begin?

(a) Mehao WLS

(b) Dibang WLS

(d) Rollapadu WLS

(e) Nahar WLS

17) Which corporation announced the hiring of Amitesh Jha as CEO of its fast commerce unit, effective September 4, 2024?

(a) Zomato

(b) Swiggy

(d) Uber

(e) Zepto

18) The Indian Coast Guard’s first indigenously designed and built Pollution Control Vessel (PCV) is named ‘Samudra Pratap’. In which place was the ship launched?

(a) Kerala

(b) Maharashtra

(d) Goa

(e) Tamil Nadu

19) Caroline Groot of the Netherlands won the first gold medal at the Paralympic Games, winning the 500-meter time trial in women’s track cycling for the C4 and C5 classes. Groot established a world record in the C5 division in how many seconds?

(a) 35.390 seconds

(b) 34.390 seconds

(d) 32.390 seconds

(e) 36.390 seconds

20) Which country’s great and former World No.1 T20I hitter, Dawid Malan, has officially retired from international cricket?

(a) England

(b) Australia

(d) New Zealand

(e) Srilanka

21) Gautam Adani’s net worth increased by 95% in the last year to Rs 11.6 lakh crore, making him the richest Indian, overtaking Mukesh Ambani. Radha Vembu of Zoho is the wealthiest self-made woman, worth how much crore?

(a) Rs 47,500 crore

(b) Rs 42,500 crore

(d) Rs 46,500 crore

(e) Rs 48,500 crore

22) INS Arighaat, India’s second nuclear-powered ballistic missile submarine, was commissioned at Visakhapatnam in the presence of Defence Minister Rajnath Singh. INS Arighaat joins INS Arihant, the first nuclear ballistic missile submarine commissioned in which year?

(a) 2016

(b) 2012

(d) 2014

(e) 2015

23) India has renewed its purchase for 73,000 SIG716 assault rifles from US-based SiG Sauer Inc. The SIG716 “Patrol” rifles are 7.62x51mm caliber and have an effective ‘kill’ range of how many meters?

(a) 500 m

(b) 100 m

(d) 800 m

(e) 300 m

24) Finance Minister Nirmala Sitharaman established a ₹1,000 crore venture capital fund to boost the space industry. Despite being a prominent spacefaring nation, India today accounts for just what percentage of the global space market?

(a) 1%

(b) 2%

(d) 4%

(e) 5%

25) According to the AQLI study, South Asia is still the world’s most polluted region, accounting for what percentage of global life years lost owing to excessive pollution, despite modest improvements in air quality over prior years?

(a) 41%

(b) 42%

(d) 48%

(e) 49%

Answers :

1) Answer: A

Short Explanation:

The Reserve Bank of India (RBI) has officially recognized the Fintech Association for Consumer Empowerment (FACE) as the first Self-Regulatory Organization in the FinTech sector (SRO-FT).

Out of the three applications submitted for recognition as an SRO-FT, only FACE’s application was approved by the RBI.

The other two applications were either returned for resubmission or are still under examination.

Detailed Explanation:

The Reserve Bank of India (RBI) has officially recognized the Fintech Association for Consumer Empowerment (FACE) as the first Self-Regulatory Organization in the FinTech sector (SRO-FT).

Out of the three applications submitted for recognition as an SRO-FT, only FACE’s application was approved by the RBI.

The other two applications were either returned for resubmission or are still under examination.

Purpose of SRO-FT: The SRO-FT framework was finalized by the RBI in May 2024 to promote “healthy and sustainable development” within the FinTech industry under the central bank’s oversight.

FACE has nearly 50 members, including prominent companies like CASHe, Fibe, CRED, Groww, LoanTap, KreditBee, and Paysense, representing around 80% of digital lending business volume.

Definition: A Self-Regulatory Organization in FinTech (SRO-FT) must be a registered not-for-profit company.

Responsibilities: It is responsible for setting guidelines on consumer protection, data security, and privacy. SROs also have the authority to investigate and discipline non-compliant members.

Function: SROs act as intermediaries between industry players and regulatory bodies like the RBI, advocating for necessary changes and promoting compliance.

Not-for-Profit Requirement: The SRO-FT must be a not-for-profit company under Section 8 of the Companies Act, 2013.

Diversified Shareholding: No entity should hold 10% or more of the paid-up share capital, either individually or in concert with others.

Net Worth Requirement: The applicant should have a minimum net worth of INR 2 Crores within one year of recognition or before commencing operations, whichever is earlier.

2) Answer: D

Short Explanation:

The Department of Economic Affairs, under the Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956.

Aim of the Amendments : To streamline listing requirements for Indian companies, facilitating the direct listing of their securities on international exchanges within International Financial Service Centres (IFSCs), especially at Gujarat International Finance Tech-City (GIFT City) in Gujarat.

Detailed Explanation:

The Department of Economic Affairs, under the Ministry of Finance, has amended the Securities Contracts Regulation Rules (SCRR), 1956.

Regulatory Framework: The ‘Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme’ is underpinned by:

Foreign Exchange Management (Non-Debt Instruments), 2019.

Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024.

These frameworks together enable public Indian companies to issue and list their shares on permitted international stock exchanges at GIFT-IFSC.

To further facilitate this, the new rules stipulate that:

Minimum Public Offer: For public Indian companies desiring to list solely on international exchanges in IFSCs, the minimum offer and allotment to the public as per the offer document shall be at least 10% of the post-issue capital.

Continuous Listing Requirements: The continuous listing requirement for such companies has also been set at 10%, as outlined under Rules 19 (2)(b) and 19A of the SCRR.

3) Answer: D

Short Explanation:

The Securities and Exchange Board of India (SEBI) has proposed that Qualified Stock Brokers (QSBs) offer a UPI-based block mechanism for trading in the secondary market, similar to the Application Supported by Blocked Amount (ASBA) facility used in the primary market.

Public Comments: SEBI has invited public comments on these proposals until September 12., 2024.

Detailed Explanation:

UPI Block Mechanism:Function: This mechanism allows clients to trade based on funds blocked in their bank accounts rather than transferring funds upfront to the trading member.

Optional Facility: The UPI block facility is optional for investors and not mandatory for Trading Members (TMs) to offer.

Alternative Option: SEBI has suggested that QSBs could alternatively offer a “3-in-1 trading account facility”:

3-in-1 Trading Accounts: Clients would maintain funds in their bank accounts, earning interest on cash balances, and use this facility for both cash and derivatives segments without amount restrictions.

Public Comments: SEBI has invited public comments on these proposals until September 12., 2024.

Qualification Criteria for QSBs:QSBs are determined based on factors like the size of operations, number of active clients, total assets held by clients, end-of-day margin, and trading volume.

Responsibilities: Being a QSB brings enhanced responsibilities and obligations, including increased monitoring by Market Infrastructure Institutions.

Previous Introduction:UPI Mechanism: SEBI introduced the RBI-approved Unified Payments Interface (UPI) with the fund blocking feature for public issues like IPOs starting January 2019.

4) Answer: D

Short Explanation:

Securities and Exchange Board of India (SEBI) proposed to make it mandatory for all entities regulated by it to maintain communication records, including acknowledgements, for at least 8 years.

The move is aimed at improving regulatory compliance, increasing transparency, protecting investors’ interest and boosting their confidence in the securities market.

Detailed Explanation:

The move is aimed at improving regulatory compliance, increasing transparency, protecting investors’ interest and boosting their confidence in the securities market.

Current Requirements: Under the existing regime:

Presently, SEBI-regulated entities are required to communicate various types of information to stakeholders.

However, only a limited class of these communications are mandated to be preserved.

Benefits of the Proposal:Audit Trail: Maintained records will serve as an audit trail for identifying breaches of securities laws.

Resolving Investor Grievances: Provides evidence for resolving disputes and protecting investor interests.

Evidence of Communication: Ensures that the content of communicated information is verifiable, aiding in the identification of legal breaches.

Current Limitations:It is difficult to ascertain the actual content of communication under current regulations unless it is specifically mandated to be maintained.

5) Answer: B

Short Explanation:

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.25 lakh on The Valsad Mahila Nagarik Sahakari Bank Ltd., Valsad, Gujarat.

Detailed Explanation:

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.25 lakh on The Valsad Mahila Nagarik Sahakari Bank Ltd., Valsad, Gujarat.

Reason for Penalty: The penalty was imposed for non-compliance with specific RBI directions concerning:

Income Recognition, Asset Classification, Provisioning, and Other Related Matters: Directives for Urban Co-operative Banks (UCBs).

Membership of Credit Information Companies (CICs): Compliance requirements for co-operative banks.

Know Your Customer (KYC) Norms: Adherence to customer verification procedures.

Maintenance of Deposit Accounts: Regulations for primary (urban) co-operative banks.

Regulatory Framework:Banking Regulation Act, 1949: Section 47A (1) (c) read with sections 46 (4) (i) and 56.

Credit Information Companies (Regulation) Act, 2005: Section 25.

6) Answer: A

Short Explanation:

Analysis of Reserve Bank of India (RBI) data on deposits of scheduled commercial banks (including regional rural) from FY19 to FY24 showed that deposits grew at 13.4% in FY24 compared to the previous year.

This is higher than the 10.2% growth in FY23, 10.1% in FY22, 12.3% in FY21 and 8.8% in FY20.

Detailed Explanation:

This is higher than the 10.2% growth in FY23, 10.1% in FY22, 12.3% in FY21 and 8.8% in FY20.

Deposits as of March 2024 stood at ₹212.5 lakh crore compared to ₹187.4 lakh crore as of March 2023.

Private Sector Banks Performance: Private sector banks, holding 34% of SCB deposits, recorded a 20% growth in deposits in FY24, compared to a 14.7% year-on-year growth in FY23.

Small Finance Banks (SFBs) Performance: SFBs, which hold a 1% share in overall SCB deposits, registered a 31.3% growth in deposits in FY24.

Public Sector Banks (PSBs) Performance: Public sector banks, holding 57% of SCB deposits, grew their deposit base by just 9.4% in FY24, slightly higher than their growth rate in FY23.

In contrast, there was only a 0.6% growth in the number of PSU bank offices in FY24, compared to an 8.1% growth in private bank outlets.

Interest Rate Premium: SFBs offer a premium of 50-250 basis points in interest rates over universal banks, even for the same category of deposits.

7) Answer: B

Short Explanation:

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman made the announcement of a new pension scheme under the National Pension Scheme (NPS), called NPS Vatsalya.

NPS Vatsalya is a new pension scheme under the National Pension Scheme (NPS).

Tax Benefits: Contributions to the NPS under this scheme are eligible for tax deductions under Section 80C and an additional deduction of up to ₹50,000 under Section 80CCD(1B) of the Income Tax Act.

Detailed Explanation:

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman made the announcement of a new pension scheme under the National Pension Scheme (NPS), called NPS Vatsalya.

NPS Vatsalya is a new pension scheme under the National Pension Scheme (NPS).

Account Opening: Parents or guardians can open an NPS Vatsalya account for their minor children and make contributions.

Accumulation Period: The funds contributed will accumulate in the account until the child turns 18.

Transition to Standard NPS: Upon reaching adulthood (18 years), the accumulated amount will be transferred to a standard NPS account, and the scheme can be converted into a non-NPS plan.

Regulating Authority: The Pension Fund Regulatory and Development Authority (PFRDA) is the governing body overseeing the NPS Vatsalya scheme.

8) Answer: C

Short Explanation:

The Ministry of Women and Child Development, led by Union Minister Smt. Annapurna Devi has launched the new SHe-Box portal, a centralised platform for registering and monitoring complaints of sexual harassment of women at the workplace.

The Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013, aims to protect women from sexual harassment at the workplace and address their grievances.

Detailed Explanation:

The SHe-Box portal serves as a centralized repository of information related to Internal Committees (ICs) and Local Committees (LCs) formed across the country in both government and private sectors.

It provides a common platform to file complaints, track their status, and ensure time-bound processing by ICs, thereby streamlining the complaint redressal process for all stakeholders.

The portal includes a designated nodal officer for real-time monitoring of complaints, ensuring swift and assured redressal.

As India moves towards its centenary by 2047, the government under Prime Minister Narendra Modi has emphasized “Viksit Bharat” with a focus on women-led development over the past decade.

The Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013, aims to protect women from sexual harassment at the workplace and address their grievances.

The SHe-Box portal is aligned with this commitment, representing a significant advancement in managing complaints of workplace sexual harassment.

Alongside the SHe-Box portal, the Ministry launched a newly developed website to enhance the government’s engagement with both national and global audiences.

9) Answer: B

Short Explanation:

Union Minister Dr. Mansukh Mandaviya launched the “Retired Sportsperson Empowerment Training” (RESET) Programme on National Sports Day in New Delhi.

The programme will cater to two levels of educational qualifications: Class 12th and above and Class 11th and below.

Lakshmibai National Institute of Physical Education (LNIPE) will be the lead institute for implementing the RESET Programme during its pilot phase.

Detailed Explanation:

Union Minister Dr. Mansukh Mandaviya launched the “Retired Sportsperson Empowerment Training” (RESET) Programme on National Sports Day in New Delhi.

RESET Programme will serve as a bridge between generations, enabling retired athletes to share their rich experiences with the new generation of aspiring athletes.

Retired sportspersons aged 20-50 years who have won international medals, participated in international events, or have been national/state medallists in competitions recognized by National Sports Federations, the Indian Olympic Association, or the Ministry of Youth Affairs and Sports are eligible to apply.

The programme will cater to two levels of educational qualifications: Class 12th and above and Class 11th and below.

Lakshmibai National Institute of Physical Education (LNIPE) will be the lead institute for implementing the RESET Programme during its pilot phase.

The registration process for the RESET Programme begins today on the LNIPE portal at https://lnipe.edu.in/resetprogram/.

10) Answer: A

Short Explanation:

The Department of Pension & Pensioners’ Welfare (DoPPW) has introduced a New Single Simplified Pension Application Form 6-A, integrated with Bhavishya and e-HRMS platforms.

A total of nine forms/formats have been merged into the new Form 6-A, including Forms 6, 8, 4, 3, A, Format 1, Format 9, FMA, and Zero Option Form.

Detailed Explanation:

The Department of Pension & Pensioners’ Welfare (DoPPW) has introduced a New Single Simplified Pension Application Form 6-A, integrated with Bhavishya and e-HRMS platforms.

The new Form 6-A will be available to all Central Government Employees retiring from December 2024 onwards.

It will be accessible through Bhavishya/e-HRMS. Retiring officials using e-HRMS will fill out the form through the platform, while those not on e-HRMS will use Bhavishya.

The new Form 6-A and its integration with Bhavishya/e-HRMS represent a significant milestone in the government’s “Maximum Governance – Minimum Government”policy.

A total of nine forms/formats have been merged into the new Form 6-A, including Forms 6, 8, 4, 3, A, Format 1, Format 9, FMA, and Zero Option Form.

Amendments have been made to Rules 53, 57, 58, 59, and 60 of the CCS Pension Rules, 2021 to incorporate these changes.

The amendments were notified after due consultations with various stakeholders such as the Department of Expenditure, Department of Law & Justice, Controller General of Accounts, Comptroller & Auditor General of India, and Department of Personnel and Training.

11) Answer: D

Short Explanation:

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Ministry of Power’s proposal to provide Central Financial Assistance (CFA) to State Governments in the North Eastern Region (NER) for their equity participation in developing Hydro Electric Projects.

The scheme has an outlay of Rs. 4136 crore and will be implemented from FY 2024-25 to FY 2031-32.

It aims to support a cumulative hydro capacity of about 15,000 MW in the NER.

Detailed Explanation:

The scheme has an outlay of Rs. 4136 crore and will be implemented from FY 2024-25 to FY 2031-32.

It aims to support a cumulative hydro capacity of about 15,000 MW in the NER.

The scheme will be funded by 10% Gross Budgetary Support (GBS) for the NER from the total outlay of the Ministry of Power.

The grant for the equity portion of the State Government would be capped at 24% of the total project equity, with a maximum of Rs. 750 crore per project. This cap may be revisited on a case-to-case basis.

The Central Financial Assistance will be limited to only viable Hydro Electric Projects.

To ensure project viability, States will need to waive or stagger free power and/or reimburse State Goods and Services Tax (SGST).

Development of hydroelectric projects will contribute to India’s Nationally Determined Contribution (INDC) of establishing 500 GW renewable energy capacity by 2030.

On 7th March 2019, the Cabinet approved measures such as declaring large hydropower projects as Renewable Energy sources, introducing Hydro Power Purchase Obligations (HPOs), tariff rationalization, and providing budgetary support for flood moderation and the cost of enabling infrastructure like roads and bridges.

12) Answer: C

Short Explanation:

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP).

The total estimated investment for these projects is Rs. 28,602 crore, which aims to reshape India’s industrial landscape by creating a robust network of industrial smart cities.

The projects will span across 10 states, strategically planned along 6 major corridors to enhance India’s manufacturing capabilities and economic growth.

Detailed Explanation:

The total estimated investment for these projects is Rs. 28,602 crore, which aims to reshape India’s industrial landscape by creating a robust network of industrial smart cities.

The projects will span across 10 states, strategically planned along 6 major corridors to enhance India’s manufacturing capabilities and economic growth.

The new industrial nodes will be located in Khurpia (Uttarakhand), Rajpura-Patiala (Punjab), Dighi (Maharashtra), Palakkad (Kerala), Agra and Prayagraj (Uttar Pradesh), Gaya (Bihar), Zaheerabad (Telangana), Orvakal and Kopparthy (Andhra Pradesh), and Jodhpur-Pali (Rajasthan).

NICDP is designed to create a vibrant industrial ecosystem by attracting investments from both large anchor industries and Micro, Small, and Medium Enterprises (MSMEs).

These industrial nodes aim to act as catalysts for achieving $2 trillion in exports by 2030, reflecting the government’s vision of a self-reliant and globally competitive India.

The new industrial cities will be developed as greenfield smart cities of global standards, based on the concepts of ‘plug-n-play’ and ‘walk-to-work’.

This “ahead of demand” approach ensures these cities will have advanced infrastructure that supports sustainable and efficient industrial operations.

Aligned with the PM GatiShakti National Master Plan, the projects will feature multi-modal connectivity infrastructure, ensuring seamless movement of people, goods, and services.

13) Answer: C

Short Explanation:

Pakistan has officially invited Prime Minister Narendra Modi to the upcoming Shanghai Cooperation Organisation (SCO) meeting scheduled for October 15-16 in Islamabad.

The invitation was confirmed by Pakistan’s Foreign Office Spokesperson, Mumtaz Zahra Baloch.

PM missed the last SCO meeting hosted by Kazakhstan in July due to his planned visits to Russia and Austria.

Detailed Explanation:

Pakistan has officially invited Prime Minister Narendra Modi to the upcoming Shanghai Cooperation Organisation (SCO) meeting scheduled for October 15-16 in Islamabad.

The invitation was confirmed by Pakistan’s Foreign Office Spokesperson, Mumtaz Zahra Baloch.

The SCO is a major economic and security bloc comprising India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.

Pakistan currently holds the rotating chairmanship of the SCO Council of Heads of Government and will host the two-day meeting for heads of state.

PM missed the last SCO meeting hosted by Kazakhstan in July due to his planned visits to Russia and Austria.

The delegation was led by External Affairs Minister S. Jaishankar, with no official reason given for Modi’s absence, though ongoing parliamentary sessions and strained relations with China were believed to be factors.

14) Answer: A

Short Explanation:

The Centre proposed an outlay of ₹26,000 crore for various road projects in Bihar.

The Centre will also formulate plan ‘Purvodaya’ for the all-round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

Also, E-vouchers will be provided directly to 1 lakh students annually with an interest subvention of 3% on the loan amount.

Detailed Explanation:

The Centre proposed an outlay of ₹26,000 crore for various road projects in Bihar.

Finance Minister Nirmala Sitharaman announced the financial outlay in the Budget for 2024-25.

The Union government will arrange funds through aid from multilateral development agencies.

The government will also set up airports, medical colleges and sports infrastructure in Bihar.

The Centre will also formulate plan ‘Purvodaya’ for the all-round development of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

The government will support the development of an industrial corridor in the eastern region.

Also, E-vouchers will be provided directly to 1 lakh students annually with an interest subvention of 3% on the loan amount.

15) Answer: C

Short Explanation:

Launched in March 2015, the Anubhav portal serves as a platform for retiring government officials to document and share their experiences and insights.

The 7th Anubhav Awards Ceremony was held on August 28, 2024, at Vigyan Bhawan, New Delhi.

The ceremony featured the highest-ever representation of women awardees at 33%, reflecting their increasing role in governance.

Detailed Explanation:

Launched in March 2015, the Anubhav portal serves as a platform for retiring government officials to document and share their experiences and insights.

The 7th Anubhav Awards Ceremony was held on August 28, 2024, at Vigyan Bhawan, New Delhi.

The ceremony featured the highest-ever representation of women awardees at 33%, reflecting their increasing role in governance.

Recipients received a medal, certificate, and Rs. 10,000.

Contributions were received from 22 ministries and departments.

15 awardees were honored for their impactful submissions.

Since its inception in 2016, the program has awarded 59 Anubhav Awards and 19 Jury Certificates.

98 ministries/departments/organizations have registered on the Anubhav Portal.

10,804 write-ups have been published as of August 29, 2024.

The portal allows retiring employees to submit write-ups of up to 5000 words on various topics, with approved submissions published on the portal.

Jury Certificates were introduced in the 2023 Anubhav Awards to broaden recognition and encourage more participation.

The 2023 ceremony included 4 Anubhav Awards and 9 Jury Certificates.

16) Answer: C

Short Explanation:

Union Minister for Agriculture & Farmers’ Welfare, Shri Shivraj Singh Chouhan, planted saplings at the IARI Campus PUSA as part of the #एक_पेड़_मां_के_नाम #Plant4Mother campaign.

The Ministry will establish a Matri Van on approximately 1 acre of land.

The Ministry’s tree planting activities began at Asola Bhati Wildlife Sanctuary on June 20, 2024, aligning with the mission to honour mothers and promote environmental consciousness.

Detailed Explanation:

The Ministry will establish a “Matri Van” on approximately 1 acre of land.

Minister of State Shri Ramnath Thakur, Dr Himanshu Pathak (Secretary DARE & DG ICAR), and about 200 officers/staff from the Ministry, along with school students, participated in the event.

The campaign saw participation from over 800 institutions under the Ministry of Agriculture & Farmers’ Welfare, including DA&FW offices, ICAR institutions, CAUs, KVKs, and SAUs.

It is estimated that between 3000-4000 saplings were planted during the event.

Prime Minister Shri Narendra Modi launched the Global Campaign #एक_पेड़_मां_के_नाम #Plant4Mother on World Environment Day (June 5, 2024).

The Ministry of Environment, Forest & Climate Change aims to plant 80 crore saplings across India by September 2024 and 140 crore saplings by March 2025.

The Ministry’s tree planting activities began at Asola Bhati Wildlife Sanctuary on June 20, 2024, aligning with the mission to honour mothers and promote environmental consciousness.

17) Answer: B

Short Explanation:

Food delivery major Swiggy Announced the appointment of Amitesh Jha as the chief executive officer (CEO) of its quick commerce arm Swiggy Instamart, effective September 4, 2024.

Jha replaces Phani Kishan as CEO of Instamart.

Detailed Explanation:

Food delivery major Swiggy Announced the appointment of Amitesh Jha as the chief executive officer (CEO) of its quick commerce arm Swiggy Instamart, effective September 4, 2024.

Jha replaces Phani Kishan as CEO of Instamart.

Sairam Krishnamurthy has been appointed as Senior Vice President and Chief Operating Officer (COO) of Instamart.

He is a veteran in retail and FMCG and previously worked at Amazon.

Swiggy has filed draft documents with SEBI for its initial public offering (IPO).

The company has received approval from its shareholders for the IPO.

18) Answer: D

Short Explanation:

The first indigenously designed and built Pollution Control Vessel (PCV) for the Indian Coast Guard (ICG) is named ‘Samudra Pratap’.

The vessel was designed and built by Goa Shipyard Limited (GSL), a defense Public Sector Undertaking (PSU).

The ship was launched in Goa and named ‘Samudra Pratap’ by Smt. Neeta Seth in the presence of Shri Sanjay Seth, the Raksha Rajya Mantri (Minister of State for Defence).

Detailed Explanation:

The first indigenously designed and built Pollution Control Vessel (PCV) for the Indian Coast Guard (ICG) is named ‘Samudra Pratap’.

The vessel was designed and built by Goa Shipyard Limited (GSL), a defense Public Sector Undertaking (PSU).

This is the first time such vessels are being designed and constructed indigenously by GSL.

The ship was launched in Goa and named ‘Samudra Pratap’ by Smt. Neeta Seth in the presence of Shri Sanjay Seth, the Raksha Rajya Mantri (Minister of State for Defence).

Atmanirbhar Bharat Initiative: The vessel is 72% indigenously sourced, aligning with the Atmanirbhar Bharat (self-reliant India) initiative, showcasing India’s capabilities in building state-of-the-art pollution control vessels.

Length: 114.5 metres

Breadth: 16.5 metres

Displacement: 4,170 tons

Project Cost and Contract: Goa Shipyard Ltd signed a contract worth ₹583 crore for constructing two Pollution Control Vessels for the Indian Coast Guard, with ‘Samudra Pratap’ being one of them.

Economic Value: The vessel is valued at ₹2,500 crore and is considered a valuable asset for protecting India’s coastal regions and supporting environmental sustainability.

Keel Laying: The keel of ‘Samudra Pratap’ was laid on November 21, 2022, marking the beginning of its construction.

19) Answer: A

Short Explanation:

Caroline Groot of the Netherlands claimed the first gold medal of the Paralympic Games by winning the 500-meter time trial in women’s track cycling for the C4 and C5 classifications.

Groot set a world record in the C5 classification with a time of 35.390 seconds.

Detailed Explanation:

Groot set a world record in the C5 classification with a time of 35.390 seconds.

Gold: Caroline Groot (Netherlands, C5)

Silver: Marie Patouillet (France, C5) – France’s first medal of the Games.

Bronze: Kate O’Brien (Canada, C4)

Li Zhangyu won the men’s C1 3000m individual pursuit, defeating fellow Chinese cyclist Weicong Liang.

Xiaomei Wang secured gold in the women’s C1-3 3000m individual pursuit.

20) Answer: A

Short Explanation:

Dawid Malan, the England star and former World No.1 T20I batter, has officially announced his retirement from international cricket.

His last appearance for England was during the ICC Men’s Cricket World Cup 2023.

Detailed Explanation:

Dawid Malan, the England star and former World No.1 T20I batter, has officially announced his retirement from international cricket.

His last appearance for England was during the ICC Men’s Cricket World Cup 2023.

Malan played a total of 114 international matches, spanning 22 Tests, 30 ODIs, and 62 T20Is.

He accumulated 4,416 runs at an average of 37.74, including eight centuries and 31 fifties.

Malan made his mark with a stunning 44-ball 78 against South Africa on his T20I debut in June 2017.

In September 2020, Malan reached the pinnacle of the ICC Men’s Test Batting Rankings, becoming the fastest men’s player to score 1,000 Test runs in just 24 innings.

He achieved a peak rating of 915 in the ICC T20I Player Rankings for batting, the highest rating ever recorded by a batter in T20I history.

21) Answer: A

Short Explanation:

Gautam Adani’s net worth surged by 95% to Rs 11.6 lakh crore in the past year, making him the richest Indian, surpassing Mukesh Ambani.

Radha Vembu of Zoho is the wealthiest self-made woman with Rs 47,500 crore.

Kumar Pritamdas Gera of Gera Developments experienced the fastest wealth growth at 566%.

Detailed Explanation:

Gautam Adani’s net worth surged by 95% to Rs 11.6 lakh crore in the past year, making him the richest Indian, surpassing Mukesh Ambani.

This sharp rise in Adani’s wealth contrasts with a 57% decline reported in 2023 due to allegations from Hindenburg Research, which Adani’s conglomerate has denied.

Mukesh Ambani saw a 25% increase in his net worth, reaching Rs 10.14 lakh crore.

Radha Vembu of Zoho is the wealthiest self-made woman with Rs 47,500 crore.

Kaivalya Vohra and Aadit Palicha of Zepto are the youngest billionaires on the list with net worths of Rs 3,600 crore and Rs 4,300 crore, respectively.

Shah Rukh Khan made his debut on the list with an estimated fortune of Rs 7,300 crore.

Juhi Chawla followed with a net worth of Rs 4,600 crore, securing second place among entertainers.

Jayshree Ullal of Arista Networks is the wealthiest professional with Rs 32,100 crore, followed by Ignatius Navil Noronha of D-mart with Rs 6,900 crore.

The 2024 Hurun India Rich List saw an increase of 220 individuals, totaling 1,539 people with net worths over Rs 1,000 crore.

The cumulative wealth of the list increased by 46% over the year.

Kumar Pritamdas Gera of Gera Developments experienced the fastest wealth growth at 566%.

22) Answer: A

Short Explanation:

INS Arighaat, India’s second nuclear-powered ballistic missile submarine, was commissioned into service in Visakhapatnam in the presence of Defence Minister Rajnath Singh.

INS Arighaat joins INS Arihant, the first nuclear ballistic missile submarine, which was commissioned in 2016.

Detailed Explanation:

INS Arighaat, India’s second nuclear-powered ballistic missile submarine, was commissioned into service in Visakhapatnam in the presence of Defence Minister Rajnath Singh.

INS Arighaat joins INS Arihant, the first nuclear ballistic missile submarine, which was commissioned in 2016.

It has a displacement of 6,000 tonnes and is powered by an 83 MW pressurised light-water reactor with enriched uranium.

Technological Advancements: INS Arighaat is technologically more advanced than its predecessor, INS Arihant.

Strategic Capabilities:K-15 SLBM: INS Arihant is armed with the K-15 Submarine Launched Ballistic Missile (SLBM) with a 750 km range.

K-4 SLBM: A 3,500 km range SLBM, K-4, is under development and was tested in 2020.

23) Answer: A

Short Explanation:

India has placed a repeat order for 73,000 SIG716 assault rifles from the U.S. firm SiG Sauer Inc.

This order adds to the earlier purchase of 72,400 SIG716 rifles, which were procured in February 2019.

These rifles were distributed among the Army (66,400), Air Force (4,000), and Navy (2,000).

Rifle Specifications: The SIG716 ‘Patrol’ rifles are 7.62x51mm caliber with an effective ‘kill’ range of 500 meters.

Detailed Explanation:

India has placed a repeat order for 73,000 SIG716 assault rifles from the U.S. firm SiG Sauer Inc.

This order adds to the earlier purchase of 72,400 SIG716 rifles, which were procured in February 2019.

These rifles were distributed among the Army (66,400), Air Force (4,000), and Navy (2,000).

Rifle Specifications: The SIG716 ‘Patrol’ rifles are 7.62x51mm caliber with an effective ‘kill’ range of 500 meters.

Value: The repeat order is valued at ₹837 crore.

Contract Signing: The contract was signed in June 2024.

Delivery Timeline: The rifles are expected to be delivered within 18 months, by the end of 2025.

AK-203 Rifles Production:Over the next decade, India plans to produce six lakh AK-203 rifles with a 7.62x39mm caliber and an effective range of 300 meters at the Korwa factory.

24) Answer: B

Short Explanation:

Finance Minister Nirmala Sitharaman announced the creation of a ₹1,000 crore venture capital fund to enhance the space economy.

Government Vision: The goal is to expand India’s space economy fivefold over the next 10 years and to increase India’s share in the global commercial space economy to 10% by 2030.

Current Market Share: India currently holds only 2% of the global space market, despite being a major spacefaring nation.

Detailed Explanation:

Finance Minister Nirmala Sitharaman announced the creation of a ₹1,000 crore venture capital fund to enhance the space economy.

Government Vision: The goal is to expand India’s space economy fivefold over the next 10 years and to increase India’s share in the global commercial space economy to 10% by 2030.

Current Market Share: India currently holds only 2% of the global space market, despite being a major spacefaring nation.

IN-SPACe: The Indian National Space Promotion and Authorisation Centre (IN-SPACe) previously had a seed funding scheme, but it was limited to select projects.

Funding Allocation: IN-SPACe’s funding was revised to ₹60.35 crore, and the Budget for 2024-25 allocated ₹96 crore for its activities.

25) Answer: C

Short Explanation:

South Asia remains the world’s most polluted region, accounting for 45% of global life years lost due to high pollution, despite some improvements in air quality compared to previous years.

The Air Quality Life Index (AQLI) report by the Energy Policy Institute at the University of Chicago (EPIC) reveals that people in the most polluted regions breathe air six times more polluted than those in the least polluted areas, shortening lifespans by 2.7 years.

Detailed Explanation:

South Asia remains the world’s most polluted region, accounting for 45% of global life years lost due to high pollution, despite some improvements in air quality compared to previous years.

Bangladesh, India, Nepal, and Pakistan—home to 23.2% of the global population—are among the most polluted countries worldwide.

The average resident in these four countries faces pollution levels that are 22.3% higher than at the turn of the century.

Bangladesh:

The most polluted South Asian country, even after a 20% decline in particulate concentration in 2022 compared to 2021.

Annual average PM2.5 levels were more than 10 times the WHO guideline, causing an average resident to potentially lose 4.8 years of life expectancy.

India:

Despite a 19.3% drop in particulate levels in 2022, an average resident could still lose 3.4 years of life expectancy if pollution levels persist.

Other states like Maharashtra, Madhya Pradesh, and Rajasthan also have a high pollution burden.

This post was last modified on September 2, 2024 6:39 pm

4 months ago

Daily Current Affairs Quiz – 31st August 2024

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