Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 06th Sep 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) Recently, Which Insurance Company Limited has launched "Special Care Gold," a braille insurance policy?

(a) Star Health

(b) Bajaj

(c) SBI

(d) LIC

(e) Niva Bupa

2) According to government data, foreign direct investment (FDI) in India increased 47.8% to $ 16.17 billion in April-June this fiscal year, with strong inflows in the services, computer, telecom, and pharmaceutical sectors. Inflows decreased in Delhi and _______ from the previous year.

(a) Sikkim

(b) Gujarat

(c) Madhya Pradesh

(d) Rajasthan

(e) Uttar Pradesh

3) The Association of Mutual Funds in India (AMFI) has developed basic rules to prevent asset management companies (AMCs) from front-running and abusing the market. How many tier-level notifications on suspicious trading behavior must AMCs generate weekly, and what are the standard operating procedures (SOPs) for analyzing these warnings?

(a) 1

(b) 2

(c) 3

(d) 4

(e) 5

4) Which company recently (Sep 2024) curtailed interactions between its regulated firms and unregistered persons after updating rules to govern unregistered financial influencers in response to growing concerns?

(a) SEBI

(b) SIDBI

(c) NABARD

(d) RBI

(e) NTPC

5) In which National Company Law Tribunal (NCLT) bench has ICICI Securities Limited's request to be delisted from the stock exchanges been granted approval?

(a) Mumbai

(b) New Delhi

(c) Patna

(d) Kolkata

(e) Hyderabad

6) Which worldwide leader in digital payments has collaborated with fintech firm Pine Labs to promote digital payment acceptance in India?

(a) Rupay

(b) Visa

(c) Mastercard

(d) American Express

(e) Experion

7) To aid agritech firms, the Indian government has established the ₹750 million 'AgriSure' fund. What is the name of the comprehensive agri-investment platform that the government created in conjunction with AgriSure?

(a) Krishi Nivesh

(b) Agriwatch

(c) Agrisnet

(d) Krishvanth

(e) Agmarket

8) Which Law Commission has been constituted by the Union government to run from September 1, 2024, to August 31, 2027, a term of three years?

(a) 21

(b) 22

(c) 23

(d) 24

(e) 25

9) Which state hosted the "VishanuYuddh Abhyas" nationwide mock drill, which was organized under the Nationwide One Health Mission (NOHM) from August 27 to August 31, 2024?

(a) Sikkim

(b) Gujarat

(c) Madhya Pradesh

(d) Rajasthan

(e) Uttar Pradesh

10) The Interest Equalization Scheme for pre- and post-shipment rupee export loans has been extended by the government by one month, and it is now in effect until September 30, 2024. Which year saw the introduction of the Interest Equalization Scheme?

(a) 2012

(b) 2010

(c) 2015

(d) 2018

(e) 2017

11) Which ministry has predicted that the Center would approve the third phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) program within the next one to two months?

(a) MSME

(b) Heavy Industry

(c) Civil Aviation

(d) Road & Transport

(e) Home affairs

12) The National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) have reached an agreement on the implementation of the updated International Standard on Auditing (ISA)_____________

(a) 500

(b) 600

(c) 700

(d) 800

(e) 900

13) To upgrade its transmission system from low tension (LT) lines to high tension (HT) lines, Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) is working on a project of how many crores?

(a) Rs.5000crore

(b) Rs.10000crore

(c) Rs.8000crore

(d) Rs.15000crore

(e) Rs.20000crore

14) Which rural regions would benefit from the Pradhan Mantri Awas Yojana (PMAY), which has the approval of the Central government to build more than 8 lakh houses?

(a) Punjab

(b) Haryana

(c) Chhattisgarh

(d) Gujarat

(e) Bihar

15) The Uttar Pradesh (UP) government plans to create a Vedic-3D museum in Varanasi, Prime Minister Narendra Modi's parliamentary seat. Based on this, which of the following pairs is incorrect?

(a) 16- Sanskars

(b) 63- arts

(c) 18- Vidya Sthans

(d) Only A&B

(e) All A,B, and C correctly paired

16) The Indian government has chosen to continue the present tax system for electric and hybrid automobiles. The government's attitude is consistent with its overall objective of being carbon neutral by which year?

(a) 2035

(b) 2040

(c) 2048

(d) 2070

(e) 2050

17) Which edition of the Laadli Media & Advertising Awards recognized The Hindu and thehindu.com for Gender Sensitivity 2024?

(a) 12th

(b) 13th

(c) 14th

(d) 15th

(e) 11th

18) Which nation hosted the event to present Professor Bantval Jayant Baliga with the 2024 Millennium Technology Prize?

(a) Finland

(b) Switzerland

(c) Singapore

(d) Thailand

(e) Maldives

19) The Indian Steel Association presented Dr. Dasari Radhika, Deputy General Manager (HR) of RashtriyaIspat Nigam Limited (RINL), with the "Gender Diversity" award. Where is RINL's headquarters located?

(a) Kolkata

(b) Visakhapatnam

(c) Kochi

(d) Mumbai

(e) Hyderabad

20) When Shri Rajiv Gauba retired, Dr. T.V. Somanathan became the next Cabinet Secretary in the Indian government. Which department secretary was he in charge of before he joined as Cabinet Secretary?

(a) DPIIT

(b) Finance

(c) Home

(d) Education

(e) MSME

21) Which company's director of finance, Rajneesh Narang, will assume the positions of managing director and chairman for three months beginning on September 1, 2024?

(a) IOCL

(b) HPCL

(c) OIL

(d) ONGC

(e) BPCL

22) Which ministry was present when the historic Memorandum of Settlement between the Indian government, the state of Tripura, NLFT, and ATTF was signed?

(a) DPIIT

(b) Finance

(c) Home Affairs

(d) Rural development

(e) MSME

23) Which nation is finalizing negotiations for a Free Trade Agreement (FTA) with India that would greatly expand their present GBP 38.1 billion yearly bilateral commercial partnership?

(a) USA

(b) UK

(c) China

(d) Japan

(e) Russia

24) As per the report of  Finance Ministry will sell its 6.78% stake in GIC Re for Rs 4,700 crore. This is the first share sale since GIC Re's IPO in what year?

(a) 2012

(b) 2014

(c) 2015

(d) 2016

(e) 2017

25) The Indian Army hands over technologies (ToT) such as 'Xploder' and 'Agniastra' to private firms for large-scale production. The Foundation of Innovation and Technology Transfer of which IIT facilitates the ToT process?

(a) IIT Madras

(b) IIT Delhi

(c) IIT Bombay

(d) IIT Kanpur

(e) IIT Mandi

Answers :

1) Answer: A

Short Explanation:

Star Health and Allied Insurance Company Limited has introduced an insurance policy in Braille named ‘Special Care Gold’.

The policy is designed for individuals with 40% or more disability and offers comprehensive protection tailored to persons with disabilities (PWD), including those with physical, sensory, or cognitive impairments.

Detailed Explanation:

Star Health and Allied Insurance Company Limited has introduced an insurance policy in Braille named ‘Special Care Gold’.

The policy is designed for individuals with 40% or more disability and offers comprehensive protection tailored to persons with disabilities (PWD), including those with physical, sensory, or cognitive impairments.

Accessibility:The Braille version enables visually impaired individuals to independently access and review policy information and make informed decisions regarding their health and finances.

Collaboration: The Braille version was produced in collaboration with the National Association of the Blind (NAB).

Statistics:According to the Ministry of Health & Family Welfare, approximately 34 million people in India (2.5% of the population) are visually impaired.

Diversity Initiative:Star Health also announced a diversity drive to train and employ visually impaired individuals as health insurance agents.

2) Answer: D

Short Explanation:

According to government data, Foreign direct investment (FDI) in India jumped 47.8% to $ 16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors.

Top FDI Recipients (States):

Maharashtra: Received the highest inflow at $8.48 billion.

Karnataka: Inflows of $2.28 billion.

Telangana: Inflows of $1.08 billion.

Gujarat: Inflows of $1.02 billion.

Declining FDI: Inflows dropped in Delhi and Rajasthan compared to the previous year.

Detailed Explanation:

According to government data, Foreign direct investment (FDI) in India jumped 47.8% to $ 16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors.

Total FDI: Including equity inflows, reinvested earnings, and other capital, total FDI increased by 28% to $22.49 billion in Q1 FY25 (from $17.56 billion in Q1 FY24).

Key Source Countries:During the period, FDI equity inflows rose from major countries, including Mauritius, Singapore, the US, the Netherlands, the UAE, Cayman Islands and Cyprus.

However, inflows declined from Japan, the UK, and Germany.

Top FDI Recipients (States):

Maharashtra: Received the highest inflow at $8.48 billion.

Karnataka: Inflows of $2.28 billion.

Telangana: Inflows of $1.08 billion.

Gujarat: Inflows of $1.02 billion.

Declining FDI: Inflows dropped in Delhi and Rajasthan compared to the previous year.

3) Answer: C

Short Explanation:

The Association of Mutual Funds in India (AMFI) has established minimum standards to prevent front running and market abuse by Asset Management Companies (AMCs).

Alert Mechanism:AMCs must generate 3-tier level alerts on suspicious trading activity weekly and establish standard operating procedures (SOPs) for reviewing these alerts.

Detailed Explanation:

The Association of Mutual Funds in India (AMFI) has established minimum standards to prevent front running and market abuse by Asset Management Companies (AMCs).

Implementation Timeline:Phase-wise Implementation:

From November 2024: For equity schemes with assets over ₹10,000 crore.

By February 2, 2025: For equity schemes with assets less than ₹10,000 crore.

By May 2, 2025: For trades in passive schemes, arbitrage schemes, and overseas securities across all schemes.

By August 2, 2025: For debt securities and other securities, including commodities, real estate investment trusts (REITs), and infrastructure investment trusts (InvITs).

Alert Mechanism:AMCs must generate 3-tier level alerts on suspicious trading activity weekly and establish standard operating procedures (SOPs) for reviewing these alerts.

First Set of Alerts: Based on participation volume and volume-weighted average price for large caps, mid-caps, and small-caps.

Subsequent Alerts: Include price movements during deal execution, block trades, and scrip volumes traded one hour before the AMC's trade.

4) Answer: A

Short Explanation:

Markets watchdog, Securities and Exchange Board of India (SEBI) has amended norms in a bid to regulate unregistered financial influencers or finfluencers amid growing concerns about potential risk associated with such unregistered persons.

Prohibited Activities:SEBI-regulated entities and their agents are prohibited from any association involving:

Money transactions

Referral of clients

Interaction of information technology systems with finfluencers who provide financial advice, recommendations, or make claims of returns.

Detailed Explanation:

Markets watchdog, Securities and Exchange Board of India (SEBI) has amended norms in a bid to regulate unregistered financial influencers or finfluencers amid growing concerns about potential risk associated with such unregistered persons.

Prohibited Activities:SEBI-regulated entities and their agents are prohibited from any association involving:

Money transactions

Referral of clients

Interaction of information technology systems with finfluencers who provide financial advice, recommendations, or make claims of returns.

Mandatory Registration: SEBI requires finfluencers to register with the regulator and adhere to specific guidelines, ensuring accountability and expertise.

Partnership Prohibition: SEBI's new framework prevents regulated entities like mutual fund houses, research analysts, registered investment advisors, and stock brokers from partnering with unregistered finfluencers.

Finfluencers' Influence: SEBI's move aims to make finfluencers accountable for the financial advice they provide, which has significantly influenced followers' financial decisions in recent years.

5) Answer: A

Short Explanation:

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved ICICI Securities Limited’s application for delisting from the stock exchanges.

Detailed Explanation:

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved ICICI Securities Limited’s application for delisting from the stock exchanges.

Under the approved scheme, ICICI Securities shareholders will receive 67 ICICI Bank Ltd shares for every 100 shares they hold in ICICI Securities.

The delisting proposal was approved by 93.82% of ICICI Securities' equity shareholders in terms of value.

Quantum Mutual Fund and Manu Rishi Guptha have raised objections to the delisting, arguing that the swap ratio adversely affects minority shareholders.

Quantum Mutual Fund holds 0.08% and Manu Rishi Guptha holds 0.002% of the paid-up equity share capital of ICICI Securities.

6) Answer: B

Short Explanation:

Visa, a global leader in digital payments, has partnered with fintech company Pine Labs to expand digital payment acceptance across India.

The two companies have jointly unveiled Pine Labs Mini, a soundbox-enabled device for QR, near-field communication (NFC) and card payments.

Detailed Explanation:

Visa, a global leader in digital payments, has partnered with fintech company Pine Labs to expand digital payment acceptance across India.

The collaboration aims to improve the in-store payment experience for millions of merchants currently using printed QR codes or other low-tech solutions.

The two companies have jointly unveiled Pine Labs Mini, a soundbox-enabled device for QR, near-field communication (NFC) and card payments.

It aims to enable small and medium-sized merchants to capitalise on the growing adoption of tap-to-pay card (and smartphone) payments and UPI in India.

Earlier, Pine Labs’ subsidiary Setu had announced the launch of UPISetu, a platform for businesses and developers to tap the ongoing advances in the Unified Payments Interface space.

7) Answer: A

Short Explanation:

The Indian government has introduced a ₹750 crore (approximately $90 million) fund named 'AgriSure' to support agritech startups.

The Union Cabinet has approved seven schemes for the agriculture sector with a combined outlay of nearly ₹14,000 crore ($1.7 billion).

Alongside AgriSure, the government launched an integrated agri-investment portal called KrishiNivesh.

Detailed Explanation:

The Indian government has introduced a ₹750 crore (approximately $90 million) fund named 'AgriSure' to support agritech startups.

The Union Cabinet has approved seven schemes for the agriculture sector with a combined outlay of nearly ₹14,000 crore ($1.7 billion).

These schemes aim to enhance agricultural productivity, reduce input costs, ensure better prices for farm produce, promote crop diversification, introduce modern technology, and provide substantial subsidies on fertilizers.

Alongside AgriSure, the government launched an integrated agri-investment portal called KrishiNivesh.

Agriculture contributes around 18% to India's GDP, underlining its significance to the economy.

The AgriSure fund comes at a time when agritech startups face a decline in funding, with only $150 million raised across over 30 deals in the first eight months of 2024, according to TheKredible.

8) Answer: C

Short Explanation:

The Union government has established the 23rd Law Commission for a period of three years, from September 1, 2024, to August 31, 2027.

The commission's main responsibilities include identifying obsolete laws for repeal, auditing laws that impact the poor, and providing recommendations on laws referred by the Law and Justice Ministry.

Detailed Explanation:

The Union government has established the 23rd Law Commission for a period of three years, from September 1, 2024, to August 31, 2027.

The commission's main responsibilities include identifying obsolete laws for repeal, auditing laws that impact the poor, and providing recommendations on laws referred by the Law and Justice Ministry.

The commission will have a full-time chairperson, four full-time members, Secretaries of the Legal Affairs and Legislative departments as ex-officio members, and up to five part-time members.

The members and chairperson are yet to be appointed by the government.

The chairperson and members could be serving judges of the Supreme Court or High Courts or other qualified persons, similar to the past commissions.

Similar to the 22nd Law Commission, the 23rd Commission is tasked with:

Examining existing laws in the light of the Directive Principles of State Policy.

9) Answer: D

Short Explanation:

Under the National One Health Mission (NOHM), a national mock drill named "VishanuYuddh Abhyas" (Virus War Exercise) was conducted from August 27 to August 31, 2024, in Ajmer district, Rajasthan.

Detailed Explanation:

Under the National One Health Mission (NOHM), a national mock drill named "VishanuYuddh Abhyas" (Virus War Exercise) was conducted from August 27 to August 31, 2024, in Ajmer district, Rajasthan.

The exercise aimed to assess pandemic preparedness by evaluating the readiness and response of the National Joint Outbreak Response Team (NJORT), which includes experts from human health, animal husbandry, and wildlife sectors.

A mock zoonotic disease outbreak scenario was created to simulate a real-world outbreak, allowing stakeholders to test their response capabilities.

10) Answer: C

Short Explanation:

The government has extended the Interest Equalisation Scheme on pre- and post-shipment rupee export credit by one more month, now valid until September 30, 2024.

The scheme, which offers interest benefits to exporters, was initially set to expire on August 31, 2024.

The Interest Equalisation Scheme was launched on April 1, 2015, initially valid for five years until March 31, 2020. It has since been extended multiple times, including during the Covid-19 pandemic.

Detailed Explanation:

The government has extended the Interest Equalisation Scheme on pre- and post-shipment rupee export credit by one more month, now valid until September 30, 2024.

The scheme, which offers interest benefits to exporters, was initially set to expire on August 31, 2024.

The latest extension only applies to MSME manufacturing exporters, as stated in a trade notice by the Directorate General of Foreign Trade (DGFT).

On December 8, 2023, the Union Cabinet approved an additional allocation of Rs 2,500 crore for the continuation of the scheme up to June 30, 2024.

This additional outlay is above the current allocation of Rs 9,538 crore and was necessary to bridge the funding gap for the scheme's continuation.

The Interest Equalisation Scheme was launched on April 1, 2015, initially valid for five years until March 31, 2020. It has since been extended multiple times, including during the Covid-19 pandemic.

11) Answer: B

Short Explanation:

The Centre is anticipated to approve the third phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme within the next one to two months, according to Heavy Industries Minister H.D. Kumaraswamy.

Detailed Explanation:

The Centre is anticipated to approve the third phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme within the next one to two months, according to Heavy Industries Minister H.D. Kumaraswamy.

Current Status: The Electric Mobility Promotion Scheme (EMPS) 2024, set to expire at the end of the month, is being reviewed. An inter-ministerial group is working to address issues identified in the earlier phases of the FAME scheme.

Minister’s Statement: Kumaraswamy indicated that the government is addressing suggestions and issues from FAME-I and FAME-II, with input from the PMO. He expects the new phase to be cleared within one to two months.

Industry Push: Electric vehicle manufacturers and industry bodies have urged the government to expedite the introduction of FAME-III due to a decline in sales of battery-powered vehicles.

12) Answer: B

Short Explanation:

Discrepancies between the Institute of Chartered Accountants of India (ICAI) and the National Financial Reporting Authority (NFRA) regarding the adoption of the revised International Standard on Auditing (ISA) 600.

ICAI's Stance: ICAI is not opposed to the revised ISA 600 but is currently determining the appropriate implementation path. They plan to address the issue in their next council meeting.

Detailed Explanation:

Discrepancies between the Institute of Chartered Accountants of India (ICAI) and the National Financial Reporting Authority (NFRA) regarding the adoption of the revised International Standard on Auditing (ISA) 600.

Cause: The differences are attributed to a communication gap between the two organizations.

Resolution: The issue is expected to be resolved through dialogue between ICAI and NFRA.

ICAI's Stance: ICAI is not opposed to the revised ISA 600 but is currently determining the appropriate implementation path. They plan to address the issue in their next council meeting.

Address Audit Lapses: The update aims to address gaps that have led to major audit lapses in the recent past.

13) Answer: B

Short Explanation:

Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) is undertaking a ₹10,000 crore project to convert low tension (LT) lines to high tension (HT) lines in its transmission system.

Current Situation:Tamil Nadu has built numerous LT lines because they are cheaper than HT lines.

Detailed Explanation:

Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) is undertaking a ₹10,000 crore project to convert low tension (LT) lines to high tension (HT) lines in its transmission system.

Current Situation:Tamil Nadu has built numerous LT lines because they are cheaper than HT lines.

However, LT lines have higher transmission losses compared to HT lines.

Transmission Losses:The state's Aggregate Technical and Commercial (AT&C) losses are approximately 11.6%, which is among the lowest in India.

The aim is to reduce these losses to under 10%.

Each percentage point reduction in AT&C losses corresponds to a financial gain of ₹800 crore.

14) Answer: C

Short Explanation:

Detailed Explanation:

The Centre has sanctioned the construction of more than 8 lakh houses under the Pradhan Mantri Awas Yojana (PMAY) in rural areas of Chhattisgarh.

The newly-elected BJP government approved the sanctioning of 18 lakh houses for beneficiaries in rural areas as a key promise made ahead of the 2023 assembly elections.

The state government has also launched the ‘NiyadNellanar’ (your good village) scheme for development in villages within a 5-km radius of security camps.

Under the PM Janjati Adivasi Nyay Maha Abhiyaan (PM-JANMAN) scheme, 24,064 houses have been sanctioned for Particularly Vulnerable Tribal Groups (PVTGs), with most of them already completed.

15) Answer: D

Short Explanation:

The Uttar Pradesh (UP) government will build the Vedic-3D museum in Varanasi, Prime Minister Narendra Modi’s parliamentary constituency.

The museum will be situated in the main building of Sampurnanand Sanskrit University.

It will highlight the evolution of Vedic literature, including aspects such as:

16 Sanskars

64 arts

18 Vidya Sthans

Detailed Explanation:

The Uttar Pradesh (UP) government will build the Vedic-3D museum in Varanasi, Prime Minister Narendra Modi’s parliamentary constituency.

The museum will be situated in the main building of Sampurnanand Sanskrit University.

Museum Focus:The museum will be dedicated to Indian astrology, astronomy, and Vedic literature.

It will highlight the evolution of Vedic literature, including aspects such as:

16 Sanskars

64 arts

18 Vidya Sthans

Exhibits:The museum will feature rare manuscripts from the historic Saraswati Bhawan, including:

“Raas Panchadhyayi”

Shrimad Bhagwat Gita

Durgasaptashati

Objectives:The museum aims to revive the tradition of ‘Shastrartha’ (spiritual discourse).

It will serve as a platform to deepen knowledge in Vedic literature.

16) Answer: D

Short Explanation:

The Indian government has decided to retain the current tax structure for electric and hybrid vehicles for an extended period.

Electric cars will continue to be taxed at a lower rate of 5%, whereas hybrid cars will face a higher tax rate of 48%.

The government's stance aligns with its broader goal of achieving carbon neutrality by 2070.

Detailed Explanation:

The Indian government has decided to retain the current tax structure for electric and hybrid vehicles for an extended period.

Electric cars will continue to be taxed at a lower rate of 5%, whereas hybrid cars will face a higher tax rate of 48%.

The decision comes amid growing pressure from major car manufacturers like Maruti Suzuki India and Toyota Kirloskar Motor to lower the tax burden on hybrid cars.

Despite these demands, the government remains focused on promoting electric mobility and battery manufacturing in India.

The government's stance aligns with its broader goal of achieving carbon neutrality by 2070.

Hybrid cars in India are currently subject to an effective tax rate of around 48%, which includes Goods and Services Tax (GST) and other levies.

In contrast, electric cars benefit from a much lower GST rate of 5%.

17) Answer: C

Short Explanation:

The Hindu and thehindu.com received accolades at the 14th Laadli Media & Advertising Awards for Gender Sensitivity 2024.

Award Category: Print/Feature/English (Northern Region)

Recipient: Senior Assistant Editor Maitri Porecha

Article Title: “Talking Therapy: Asha Workers Offer Hope in Rural Madhya Pradesh”

Detailed Explanation:

The Hindu and thehindu.com received accolades at the 14th Laadli Media & Advertising Awards for Gender Sensitivity 2024.

Award Category: Print/Feature/English (Northern Region)

Recipient: Senior Assistant Editor Maitri Porecha

Article Title: “Talking Therapy: Asha Workers Offer Hope in Rural Madhya Pradesh”

Focus: The article details a community-driven approach in Madhya Pradesh involving the State government, a non-profit, and Accredited Social Health Activists (Asha) to provide doorstep counselling.

Challenges Highlighted: It discusses the difficulties faced by Asha workers, including inadequate compensation and the need to travel rural areas on two-wheelers.

18) Answer: A

Short Explanation:

Recipient: Professor Bantval Jayant Baliga, a 76-year-old Indian-American electrical engineer born in Chennai, Tamil Nadu.

Award: 2024 Millennium Technology Prize, given by Technology Academy Finland.

Prize Value: €1 million (approximately $1.1 million).

Detailed Explanation:

Recipient: Professor Bantval Jayant Baliga, a 76-year-old Indian-American electrical engineer born in Chennai, Tamil Nadu.

Award: 2024 Millennium Technology Prize, given by Technology Academy Finland.

Prize Value: €1 million (approximately $1.1 million).

Recognition: Awarded for his invention of the Insulated Gate Bipolar Transistor (IGBT).

Invention: Baliga invented the IGBT in the 1980s, a technology that has significantly improved energy efficiency and reduced pollution.

Applications: The IGBT is used in:

Wind and Solar Power Installations

Electric and Hybrid-Electric Cars

Medical Diagnostic Machines

Household Appliances

Reduction of Carbon Emissions: The IGBT has helped cut over 82 gigatons (180 trillion pounds) of CO2 in the last 30 years.

19) Answer: B

Short Explanation:

Award: Dr.Dasari Radhika, Deputy General Manager (HR) at RashtriyaIspat Nigam Limited (RINL), was conferred with the ‘Gender Diversity’ award by the Indian Steel Association.

Dr. Radhika has spent 28 years at RINL, pioneering HR practices and becoming the first woman HR In-charge in several postings.

She managed industrial relations and employee welfare across challenging zones, especially at the Visakhapatnam Steel Plant.

Detailed Explanation:

Award: Dr.Dasari Radhika, Deputy General Manager (HR) at RashtriyaIspat Nigam Limited (RINL), was conferred with the ‘Gender Diversity’ award by the Indian Steel Association.

Contribution: Recognized for her exemplary leadership in the steel industry, a traditionally male-dominated sector, Dr. Radhika has been instrumental in promoting gender equity, fostering an inclusive workplace, and creating a culture of belongingness.

Dr. Radhika has spent 28 years at RINL, pioneering HR practices and becoming the first woman HR In-charge in several postings.

She managed industrial relations and employee welfare across challenging zones, especially at the Visakhapatnam Steel Plant.

20) Answer: B

Short Explanation:

Dr. T.V. Somanathan took over as the new Cabinet Secretary in the Government of India after the superannuation of Shri Rajiv Gauba.

Prior to his joining as Cabinet Secretary, he was holding the charge of Finance Secretary and Secretary, Department of Expenditure.

Detailed Explanation:

Dr. T.V. Somanathan took over as the new Cabinet Secretary in the Government of India after the superannuation of Shri Rajiv Gauba.

Dr. Somanathan is an IAS officer of Tamil Nadu cadre (1987 batch). He holds a Ph.D. in Economics from Calcutta University.

He has held important assignments at the Centre like Joint Secretary and Additional Secretary in the Prime Minister’s Office.

Prior to his joining as Cabinet Secretary, he was holding the charge of Finance Secretary and Secretary, Department of Expenditure.

In 2011, his services were sought by the World Bank and he served as Director from 2011 to 2015.

21) Answer: B

Short Explanation:

Rajneesh Narang, Director (Finance) of Hindustan Petroleum Corporation Limited (HPCL), will take on the roles of Chairman and Managing Director for a period of three months starting from September 1, 2024.

He succeeds Pushp Kumar Joshi, who retired after reaching the age of 60 on August 31, 2024.

Detailed Explanation:

Rajneesh Narang, Director (Finance) of Hindustan Petroleum Corporation Limited (HPCL), will take on the roles of Chairman and Managing Director for a period of three months starting from September 1, 2024.

He succeeds Pushp Kumar Joshi, who retired after reaching the age of 60 on August 31, 2024.

HPCL  is an Indian oil and gas company with corporate headquarters in Mumbai, Maharashtra.

ONGC (Oil and Natural Gas Corporation) is the second-largest promoter, holding 51.11% of HPCL’s shares.

22) Answer: C

Short Explanation:

A significant Memorandum of Settlement was signed between the Government of India, the Government of Tripura, the National Liberation Front of Tripura (NLFT), and All Tripura Tiger Force (ATTF) in the presence of Union Home Minister Shri Amit Shah in New Delhi.

End of 35-Year Conflict: The NLFT and ATTF have committed to giving up arms and joining the mainstream, putting an end to a decades-long insurgency in Tripura.

Detailed Explanation:

A significant Memorandum of Settlement was signed between the Government of India, the Government of Tripura, the National Liberation Front of Tripura (NLFT), and All Tripura Tiger Force (ATTF) in the presence of Union Home Minister Shri Amit Shah in New Delhi.

End of 35-Year Conflict: The NLFT and ATTF have committed to giving up arms and joining the mainstream, putting an end to a decades-long insurgency in Tripura.

Inclusion in Democratic Process: Over 328 armed cadres from NLFT and ATTF will renounce violence, disband their armed organizations, and participate in peaceful democratic processes.

Special Development Package: A ₹250 crore special package has been approved for the development of the tribal population in Tripura.

23) Answer: B

Short Explanation:

The Free Trade Agreement (FTA) between India and the UK is in its final stages of negotiation.

Negotiation Timeline: FTA negotiations began in January 2022 but were temporarily stalled due to general elections in both countries.

Detailed Explanation:

The Free Trade Agreement (FTA) between India and the UK is in its final stages of negotiation.

Negotiation Timeline: FTA negotiations began in January 2022 but were temporarily stalled due to general elections in both countries.

Objective: The agreement aims to significantly enhance the current GBP 38.1 billion annual bilateral trading partnership.

Signing Ceremony: The UK-India Infrastructure Financing Bridge (UKIIFB) agreement was signed between NITI Aayog and the City of London Corporation.

24) Answer: E

Short Explanation:

The Union Ministry of Finance will dilute a 6.78% stake in the General Insurance Corporation of India (GIC Re) to raise approximately Rs 4,700 crore.

This is the first stake sale since GIC Re's listing in 2017.

Detailed Explanation:

The Union Ministry of Finance will dilute a 6.78% stake in the General Insurance Corporation of India (GIC Re) to raise approximately Rs 4,700 crore.

This is the first stake sale since GIC Re's listing in 2017.

3.39% equity stake will be divested.

An additional 3.39% is available under the green shoe option.

Floor Price: The expected floor price for the OFS is approximately Rs 395 per share, which is around a 6% discount from the current market price of Rs 420.8.

Government Shareholding: The government currently holds 85.78% of GIC Re’s shares.

Comparison with LIC: The strategy is similar to LIC’s IPO, where the government initially divested 3.5% of its stake with plans to sell an additional 1.5% for inclusion in index funds.

25) Answer: B

Short Explanation:

In a major stride towards technological self-reliance, the Indian Army announced the successful transfer of technology (ToT) for its indigenously developed "Xploder" UGV and "Agniastra" detonation system to private Indian firms.

The ToT ceremony was graced by Vice Chief of the Army Staff, Lt Gen NS Rajasubramani.

The ToT process is facilitated by the Foundation of Innovation & Technology Transfer, IIT Delhi.

Detailed Explanation:

In a major stride towards technological self-reliance, the Indian Army announced the successful transfer of technology (ToT) for its indigenously developed "Xploder" UGV and "Agniastra" detonation system to private Indian firms.

This landmark development, part of the Army's "Year of Tech Absorption," underscores its unwavering commitment to modernization and operational excellence.

The ToT ceremony was graced by Vice Chief of the Army Staff, Lt Gen NS Rajasubramani.

The ToT process is facilitated by the Foundation of Innovation & Technology Transfer, IIT Delhi.

The Xploder is an advanced unmanned ground vehicle (UGV) to offer a range of combat and operational roles, and remote portable detonation technology.

The Agniastra, a Multi Target Portable Detonation System, introduces a paradigm shift in remote detonation operations.