Daily Current Affairs Quiz - 08th March 2024

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 08th March 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) To facilitate reversal trades in the stock options segment on the BSE, the capital markets regulator Securities Exchange Board of India (SEBI) launched a third settlement scheme in 2014 and 2015. The plan will go into effect on March 11, 2024, and last through _________, 2024 (inclusive of both days).

(a) April 30

(b) May 10

(c) June 30

(d) July 30

(e) August 30


2)
According to information provided by the Reserve Bank of India (RBI), how many banks allow users to search their unclaimed deposits or accounts via the Unclaimed Deposits-Gateway to Access inforMation (UDGAM) portal, with the rest institutions presently in the process of being integrated?

(a) 28

(b) 26

(c) 27

(d) 29

(e) 30


3)
The Unified Payments Interface (UPI) is a platform on which the National Payments Corporation of India (NPCI) is actively investigating ways to stabilize market share dynamics. What percentage cap by volume has the NPCI proposed for third-party payment applications in the UPI market?

(a) 10%

(b) 20%

(c) 30%

(d) 40%

(e) 50%


4)
Despite the reduced purchase in 2023, RBI ranked as the ____ largest purchaser of gold among central banks for the year, as per reported data.

(a) 5th

(b) 4th

(c) 3rd

(d) 8th

(e) 6th


5)
Who took part in "Viksit Bharat, Viksit Jammu Kashmir," according to the news in March 2024?

(a) Raj Nath Singh

(b) Arjun Munda

(c) Narendra Modi

(d) Amit Shah

(e) Anurag Singh Thakur


6) Who virtually inaugurated and laid the foundation stone for 177 development projects in Sonbhadra district of Uttar Pradesh?

(a) Arjun Munda

(b) Amit Shah

(c) Hardeep Singh Puri

(d) Nirmala Sitharaman

(e) Rajnath Singh


7)
The government announced changes to the Foreign Direct Investment (FDI) guidelines in the space industry, allowing for 100% foreign investment in satellite component manufacture, ___ percent in satellite manufacturing and operations, and ___ percent in launch vehicles.

(a) 75% & 45%

(b) 74% & 49%

(c) 72% & 45%

(d) 70% & 42%

(e) 71% & 48%


8) Recently (Mar 2024),
In which state did Union Minister for Petroleum and Natural Gas Hardeep Singh Puri officially open GAIL's first small-scale LNG unit in India?

(a) Madhya Pradesh

(b) Jharkhand

(c) Karnataka

(d) Tamil Nadu

(e) Uttar Pradesh


9) Which state launched a government-supported OTT platform called CSpace at the Kairali Theatre which marks India’s first government-backed OTT platform?

(a) Madhya Pradesh

(b) Jharkhand

(c) Karnataka

(d) Kerala

(e) Uttar Pradesh


10) In March 2024,
Which chief minister of state launched the "Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)" program to encourage youth entrepreneurship in the state?

(a) Madhya Pradesh

(b) Jharkhand

(c) Karnataka

(d) Kerala

(e) Uttar Pradesh


11) According to the recent news (Mar 20204), Keyi Panyor became the ______th district of Arunachal Pradesh by carving out the areas from Lower Subansiri.

(a) 23rd

(b) 24th

(c) 25th

(d) 26th

(e) 27th


12)
Customers or depositors can get a reimbursement from their banks for any monies that remain unclaimed. Banks may file a claim for a return from the Depositor Education and Awareness (DEA) Fund after paying the depositor interest.Which year did the RBI create the DEA Fund Scheme?

(a) 2012

(b) 2013

(c) 2014

(d) 2015

(e) 2016


13)
Which state's Yatin Bhaskar Duggal took top place in the National Youth Parliament Festival in 2024?

(a) Tamil Nadu

(b) Haryana

(c) Assam

(d) Bihar

(e) Rajasthan


14)
Which bank has authorized BK Divakara's appointment as an Executive Director (Whole Time Director) for a period of three years, with approval from the Reserve Bank of India (RBI)?

(a) TMB Bank

(b) Federal Bank

(c) Yes Bank

(d) Citi Bank

(e) CSB Bank


15) In March 2024, The Indian Navy commissioned the Indian Naval Ship (INS) Jatayu, at Minicoy Island in the Lakshadweep Islands, its second base in Lakshadweep after INS Dweeprakshak in Kavaratti, commissioned in which year?

(a) 2012

(b) 2014

(c) 2016

(d) 2018

(e) 2020


16) As p
er the Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India (RBI) has prohibited exclusive agreements between banks and card networks and has permitted users to select the network at the time of issuance. What is the number of Authorized Card Networks in India?

(a) 3

(b) 4

(c) 5

(d) 6

(e) 7


17)
How many Indian government bonds that are eligible for investment through the country's fully accessible route (FAR) would Bloomberg Index Services include in its Emerging Market Local Currency Index (EMLC) starting on January 31, 2025?

(a) 30

(b) 32

(c) 34

(d) 36

(e) 38


18)
What was the theme of the March 8, 2024, International Women's Day celebration?

(a) Help them, Raise them, and Respect them

(b) The caring world starts with Women

(c) Love is in the form of Women

(d) Invest in women: Accelerate progress

(e) Care in women: Respect progress


19)
Under the aegis of the "____________" mission, UCOST and the CSIR Indian Institute of Petroleum, Dehradun, signed an agreement by Shri Pushkar Singh Dhami.

(a)Adarsh Shekwat

(b) Adarsh Charawat

(c) Adarsh Swetawat

(d) Adarsh Jagaviwat

(e) Adarsh Champawat


20)
Which bank signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) to create a framework encouraging the use of local currencies for cross-border transactions recently (Mar 2024)?

(a) DBS Bank

(b) HSBC Bank

(c) Bank of China

(d) Bank Indonesia

(e) Bank of America


Answers :

1) Answer: B

The Capital markets regulator Securities Exchange Board of India (SEBI) introduced a third settlement scheme for entities involved in reversal trades in the stock options segment on BSE in 2014 and 2015.

The scheme will commence on March 11 2024 and end on May 10, 2024 (with both days inclusive).

After the expiry of the scheme period, actions as per the relevant provisions of securities laws will be continued against the entities that do not avail of this opportunity for settlement.

Aim:To expedite the conclusion of proceedings, enabling entities to avoid further delays and the associated legal processes or expenses.

Key Highlights:

Legal Basis: The scheme is meant for trading activities of certain entities in the liquid stock options segment of BSE in terms of Section 15JB of the Sebi Act 1992 read with Regulations 26 of SEBI (Settlement Proceedings) Regulations 2018.

Eligibility Criteria: The scheme is meant for those entities against which legal proceedings were either initiated or pending such as adjudicating officer/ Securities Appellate Tribunal (SAT)/ courts/ recovery officer (provided an appeal has been filed and the same is pending before the SAT/court).

Settlement Opportunity: The scheme would provide a settlement opportunity to all the entities that have executed reversal trades in the stock options between April 1, 2014, and September 30, 2015, against whom proceedings have been initiated and are pending before any authority or forum.

Previous Settlement Scheme: SEBI provided a one-time settlement scheme for entities involved in manipulation in

Scheme Duration: The scheme was available from August 2022 to January 2023.

Entities Availing Scheme: In January 2021, SEBI announced that 1,018 entities allegedly involved in manipulation had availed the benefit of the one-time settlement scheme.

Number of Entities Settling: In March 2023, SEBI disclosed that a total of 10,980 entities availed the benefit under the settlement scheme of 2022.

Settlement Charges: The cases were settled against the entities after they paid settlement charges in the range of Rs 1 lakh to Rs 42 lakh.

About SEBI:

Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992

Headquarters : Mumbai, Maharashtra

Chairman : Madhabi Puri Buch (the first woman to lead the SEBI)

SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.


2) Answer: E

The Reserve Bank of India (RBI) informed that 30 banks are facilitating people to search their unclaimed deposits/accounts through Unclaimed Deposits-Gateway to Access inforMation (UDGAM) portal, and the remaining banks are in the process of getting on-boarded.

About UDGAM:

UDGAM is an online portal developed by RBI.

It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in one place in a centralized manner.

All unclaimed deposits/accounts that are part of the Depositor Education and Awareness (DEA) Fund of RBI can be searched in the UDGAM portal.

As of March 4, 2024, there are 30 banks, that are part of the UDGAM portal, and they cover around 90% of unclaimed deposits (in value terms) in the DEA Fund of RBI.

The total value of unclaimed deposits stood at Rs 42,270 crore as of March 2023.

What are unclaimed deposits?

The balance in savings or current accounts not operated for 10 years and term deposits not claimed for 10 years from the date of maturity are classified by banks as unclaimed deposits.

These amounts are transferred to the depositor education and awareness (DEA) fund maintained by RBI.

What is the Unclaimed Deposit Reference Number?

Unclaimed Deposit Reference Number (UDRN) is a unique number generated through Core Banking Solution (CBS) by banks and assigned to each Unclaimed account/ deposit transferred to the Depositor Education and Awareness (DEA) Fund of RBI.

This number is used so that the account holder or the bank branch where the account is maintained, cannot be identified by any third party.

The UDRN enables the bank branches to seamlessly settle claims received from the customers/depositors, who have made successful searches in the UDGAM portal.


3) Answer: C

The National Payments Corporation of India (NPCI) is actively exploring strategies to stabilize market share dynamics on the Unified Payments Interface (UPI).

NPCI has organized a meeting with third-party application players to discuss and address the challenges associated with market share dynamics on UPI.

Key Highlights:

30% Cap Implementation: NPCI has proposed a 30% cap by volume for third-party payment applications in the UPI market.

Initially planned for implementation on January 1, 2023, the move has been postponed, and the new deadline is set for December 31, 2024.

Impact on Players: Leading third-party payment application players, such as PhonePe and Google Pay, face potential business losses as a consequence of the market share cap imposed by NPCI.

Transaction Volumes in January 2024: In January, PhonePe processed a significant 5.7 billion transactions, while Google Pay closely followed with 4.4 billion transactions.

In contrast, Amazon, a major e-commerce player in India, handled 59 million transactions.

Cred recorded just over 100 million transactions, and Groww, the prominent wealth management app, processed less than 9.5 million transactions.

About NPCI :

Founded : 2008

Headquarters : Mumbai, Maharashtra, India

MD & CEO : Dilip Asbe

The NPCI is an umbrella organization for operating retail payments and settlement systems in India.

It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment & Settlement Infrastructure in India.


4) Answer: E

The Reserve Bank of India (RBI) increased its gold reserves in January after a two-month hiatus.

RBI’s gold acquisition in January amounted to 8.7 metric tons, marking the highest monthly purchase in a year and a half.

As of January’s end, RBI’s gold reserves reached an unprecedented level of 812.3 metric tons.

In 2023, RBI’s net gold purchases were substantially lower at 16.2 metric tons compared to previous years, where annual net purchases averaged 47 metric tons from 2018 to 2022.

Despite the reduced purchase in 2023, RBI ranked as the 6th largest purchaser of gold among central banks for the year, as per reported data.


5) Answer: C

Prime Minister Narendra Modi unveiled various developmental projects worth more than 6400 crore rupees at Bakshi stadium in Srinagar in Jammu and Kashmir.

During his day-long visit to the Kashmir valley, the Prime Minister participated in the ‘Viksit Bharat, Viksit Jammu Kashmir’

This is Mr Modi’s first visit to Kashmir post abrogation of Article 370 in August 2019.

Earlier, the Prime Minister launched the 5,000 crore Rs worth program – the ‘Holistic Agriculture Development Programme’ – for boosting the agri-economy in J&K.

He also launched multiple projects related to the tourism sector worth more than 1,400 crore Rs under Swadesh Darshan and PRASHAD (Pilgrimage Rejuvenation And Spiritual, Heritage Augmentation Drive) scheme, including the project for ‘Integrated Development of Hazratbal Shrine’, Srinagar.


6) Answer: C

Shri Hardeep Singh Puri, Minister of Housing & Urban Affairs and Petroleum & Natural Gas, virtually inaugurated and laid the foundation stone for 177 development projects in Sonbhadra district of Uttar Pradesh.

The projects worth Rs 10 crore 41 lakh are funded from Shri Puri’s MPLAD fund as part of the MP Local Area Development Scheme.

In 2018, Minister Hardeep Singh Puri, who is also an MP from Rajya Sabha, assumed the responsibility of overseeing development initiatives in the district as part of the Aspirational Districts Programme of NITI Aayog.


7) Answer: B

The government notified the amended FDI norms in the space sector, clearing the deck for 100 percent overseas investment in making components for satellites, 74 percent in satellite manufacturing and operations, and 49 percent in launch vehicles.

Anything beyond the limit will need government approval.

The recent move comes against the backdrop of tepid foreign investment into the country’s space sector over the last two years.

Satellite Data Products refer to the reception, generation, or dissemination of earth observation/remote sensing satellite data and data products including Application Interfaces (API).

As per the amended policy, up to 49% FDI is allowed through automatic routes for launch vehicles and associated systems or subsystems, the creation of spaceports for launching and receiving spacecraft.

Beyond 49%, FDI in these activities would require government approval.

A spaceport (also referred to as a launch site) is the base from which spacecraft are launched, and consists of facilities involving devices for transportation to, from and via outer space.

Further up to 100% overseas investments are permitted under automatic route for manufacturing of components and systems/ sub-systems for satellites, ground and user segments.

Recent News

The cabinet approved the amended FDI norms to enhance the ease of doing business and attract investments and divided the satellite sub-sector into three different activities with defined limits for foreign investment in each such sector.


8) Answer: A

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri inaugurated India’s first small-scale LNG Unit of GAIL.

This unit of Gas Authority of India Limited (GAIL) is situated at its Vijaipur LPG plant in Madhya Pradesh.

The CNG stations have been set up with an investment of Rs 500 crore and are spread across 52 geographical areas in 17 states.

He reiterated that the government’s vision is to raise the share of natural gas in the primary energy basket to 15 percent by 2030.

He said that the establishment of a gas-based economy depends on the development of the National Gas Grid (NGG).

It also depends on a widespread City Gas Distribution (CGD) network that links the supply and consumption centres.

The Minister stated that by 2030, the nation will have around 120 million PNG connections and about 17,500 CNG stations, according to the Minimum Work Plan that CGD companies had submitted.


9) Answer: D

Kerala’s Chief Minister Shri Pinarayi Vijayan launched a government-supported OTT platform called CSpace at the Kairali Theatre.

This marks India’s first government-backed OTT platform.

Aim: To offer a mix of informative and entertaining content tailored especially for the masses.

Viewers can access the CSpace app for download from both the PlayStore and App Store starting March 7, 2024.

About CSpace Platform:

CSpace has been launched to deal with the growing imbalances and multifarious challenges in the OTT sector.

It is managed by Kerala State Film Development Corporation (KSFDC) which is a state-owned company entrusted with the promotion of Malayalam cinema and industry.

This OTT platform has been released by the Department of Cultural Affairs of the Government of Kerala.

KSFDC has formed a curator panel comprising 60 members, including renowned cultural personalities from Kerala.

Notable figures such as Benyamin, OV Usha, Santhosh Sivan, Shyamaprasad, Sunny Joseph, and Jeo Baby are part of this panel.

The curators have chosen 42 films for the initial phase of CSpace, encompassing 35 feature films, six documentaries, and one short film.

Films that have garnered national or state awards or have been showcased at major film festivals will be featured on the platform.

CSpace operates on a pay-per-view basis, enabling viewers to watch a feature film for Rs 75 and shorter content for a lower price.

Half of the revenue generated from viewer subscriptions is allocated to the content provider.

The platform emphasizes transparency in its operations and revenue-sharing practices.

About Kerala:

Chief Minister: Pinarayi Vijayan

Governor: Arif Mohammad Khan

Capital: Thiruvananthapuram

National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park


10) Answer: E

Chief Minister Shri Yogi Adityanath introduced the “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)” scheme in Uttar Pradesh (UP), to foster entrepreneurship among the state’s youth.

The scheme underscores the government’s dedication to empowering young entrepreneurs and cultivating an environment conducive to innovation and business development.

Key Features:

Interest-Free Financing: Under the MYUVA scheme, interest-free financing is provided to assist young individuals in launching their entrepreneurial ventures, with projects valued up to Rs 5 lakhs.

Annual Target: The government aims to nurture 1 lakh young entrepreneurs annually through this initiative, highlighting its ambitious goal of promoting entrepreneurship in the state.

Budget Allocation: A substantial budget allocation of Rs 1,000 crore for the financial year 2024-25 has been earmarked to support the MYUVA initiative, highlighting the government’s financial commitment.

Empowerment of Educated Youth: MYUVA focuses on empowering educated and skilled youth in Uttar Pradesh by providing avenues for self-employment, aligning with the broader goal of youth empowerment.

Eligibility Criteria: Beneficiaries include individuals who have received training through government-sponsored projects and those with educational qualifications.

Digital Transactions and Awards: The scheme encourages digital transactions in business operations and offers awards to promote the use of digital payment systems among entrepreneurs.

Long-Term Goal: The MYUVA scheme aims to directly benefit one million units (10 lakh units) over the next decade by financing 1,00,000 units annually, contributing to sustained entrepreneurial growth in the state.

About UP:

Governor : Anandiben Patel

Chief Minister : Yogi Adityanath

Capital : Lucknow

National Park : Dudhwa National Park

Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary


11) Answer: D

Keyi Panyor became the 26th district of Arunachal Pradesh by carving out the areas from Lower Subansiri.

The new district, which was demanded by the people of the Nyishi community for a long time, will have its headquarters at Ter Gapin-Sam Sarth.

The programme was attended by Union Minister for Earth Sciences Kiren Rijiju, Deputy CM Chowna Mein, and MPs Tapir Gao and Nabam Rebia, among others.

On February 8, 2024 the state assembly passed the Arunachal Pradesh (Re-Organization of Districts) (Amendment) Bill, 2024, paving the way for the creation of two new districts -Keyi Panyor and Bichom.

The 27th district, Bichom, is scheduled to be inaugurated early next week.

Bichom district with headquarters at Napangphung has been carved out from East Kameng and West Kameng districts.


12) Answer: C

Customers or depositors can claim a refund of their unclaimed amounts from their banks.

After paying the depositor with interest, banks can lodge a claim for a refund from the Depositor Education and Awareness (DEA) Fund.

The DEA Fund Scheme, 2014, was formulated by the RBI.

The scheme came into effect on May 24, 2014, e., the date of notification of the scheme in the Official Gazette of India.

According to the FAQ, the amounts credited to the DEA Fund are the credit balances in any deposit account maintained with banks (commercial banks, cooperative banks), that have not been operated for 10 years or more by the depositor, or any amount remaining unclaimed for 10 years or more.

Furthermore, there is no specific time limit prescribed in the scheme for claiming a refund from the DEA Fund by the depositor.

However, depositors or legal heirs are encouraged to claim such amounts as soon as they become aware of unclaimed funds.

In case of claims on deposits covered by Deposit Insurance and Credit Guarantee Corporation (DICGC), then the liquidator can claim the equivalent amount to what could have been claimed by DICGC i.e., up to Rs 5 lakh currently.

However, if the deposit amount is above the insurance coverage of DICGC, then the liquidator can claim the amount only on a reimbursement basis.


13) Answer: B

Yatin Bhaskar Duggal from Haryana won the first prize in the National Youth Parliament Festival, 2024, while Vaishna Pitchai from Tamil Nadu won the second prize and Kanishka Sharma from Rajasthan the third prize.

Eighty-seven State-level winners assembled in New Delhi for the finals in the Youth Parliament.

Lok Sabha Speaker Om Birla emphasized the importance of youth in India’s progress towards becoming a ‘Viksit Bharat’ by 2047, highlighting their thinking capability, innovation, and work ethic. He stressed India’s role in leading the world.


14) Answer: E

The Reserve Bank of India (RBI) has approved the appointment of BK Divakara as a Whole-Time Director (Executive Director) of CSB Bank for 3 years.

About BK Divakara:

Divakara is an Associate Member of the Institute of Chartered Accountants of India, the Institute of Company Secretaries of India and the Institute of Cost and Management Accounts of India.

He has been Head-Strategy & Corporate Legal at CSB Bank since June 5, 2023.

Before this, he held the position of CFO from February 5, 2020 to June 4, 2023.

Before joining CSB Bank, Divakara was Executive Director with the Central Bank of India for five years beginning January 23, 2014.

About CSB Bank Limited:

Founded : 26 November 1920

Headquarters : Thrissur, Kerala, India.

CEO: Pralay Mondal.


15) Answer: A

The Indian Navy commissioned the Indian Naval Ship (INS) Jatayu, at Minicoy Island in the Lakshadweep Islands, its second base in Lakshadweep after INS Dweeprakshak in Kavaratti, commissioned in 2012.

The Navy has also commissioned its first MH-60R multi-role helicopter squadron INAS 334 ‘Seahawks’ at Kochi, a major capability boost for its rotary fleet and its anti-submarine warfare capabilities.

New Delhi had signed an agreement with Washington to buy 24 of these choppers and 6 have been delivered so far.

The first MH-60R Indian Naval Air Squadron will be commanded by Captain M Abhishek Ram.

The procurement agreement for 24 MH-60Rs was signed between India and the United States (US) in February 2020 under the framework of foreign military sales.

About INS Jatayu:

Strategic Significance of INS Jatayu: INS Jatayu serves as a strategic naval base, positioned across crucial sea lanes of communication, including the 8-degree and 9-degree channels connecting Minicoy with Maldives and Lakshadweep islands, respectively.

Maritime Variant – MH-60R Seahawk Helicopters:The MH-60R Seahawk helicopters are a maritime variant of the Blackhawk helicopter, contributing to the Navy’s capabilities in maritime operations.

Commissioning Ceremony Attendees:Admiral R Hari Kumar, Chief of Naval Staff, and Praful K Patel, Administrator of Lakshadweep, were present at the commissioning ceremony.

Vice Admiral V Srinivas, Flag Officer Commanding-in-Chief, Southern Naval Command, also participated in the event.

24-hour chopper hanger at Kavaratti will be operational soon and the IAF has been allocated land to set up a radar station.

Commander Vrat Baghel, the first commanding officer of the unit took charge of the INS Jatayu that will play a significant role in operational surveillance and reduce the navy’s turnaround time in the western seaboard.

Under his leadership, INS Jatayu will play a crucial role in operational surveillance, contributing to reducing the navy’s turnaround time in the western seaboard region.

About Indian Navy :

Headquarters : New Delhi, Delhi

Chief of Defence Staff : General Anil Chauhan

Chief of the Naval Staff : Admiral R. Hari Kumar

About Ministry of Defence :

Defence Minister : Rajnath Singh

Minister of State : Ajay Bhatt

Defence Secretary : Giridhar Aramane


16) Answer: C

The Reserve Bank of India (RBI) has barred exclusive agreements between banks and card networks and has allowed customers to choose the network at the time of issue under Section 18 read with Section 10(2) of the Payment and Settlement Systems Act, 2007.

Key Highlights :

Customer Choice: At present, the card issued to a customer is decided by the card issuer (bank/non-bank) and is linked to the arrangements that the card issuers have with card networks in terms of their bilateral agreements.

Authorized Card Networks: Authorised card networks include American Express Banking Corp, Diners Club International Limited, MasterCard Asia/Pacific Pte Limited, National Payments Corporation of India–Rupay, and Visa Worldwide Pte Limited.

Exclusions: However, the direction on allowing users to pick the network shall not apply to credit card issuers with several active cards issued by them being 10 lakh or less.

Card issuers who issue credit cards on their authorized card network are excluded from the applicability of the circular.

Effective Date: The directions outlined in the circular will come into effect 6 months from its issuance date, providing a transition period for compliance.

About RBI :

Established : 1 April 1935

Headquarters : Mumbai, Maharashtra, India

Governor : Shaktikanta Das


17) Answer: C

Indian government bond market participants informed they expect inflows of less than $5 billion from the recent inclusion in the Bloomberg Index Services, which is unlikely to have any material impact on bond yields.

Bloomberg Index Services would include 34 Indian government bonds eligible for investment via the country’s fully accessible route (FAR), in its Emerging Market Local Currency Index (EMLC) from Jan. 31, 2025.

Indian benchmark bond yield has remained around 7.05% for the last few sessions and is unlikely to ease much in the near term.

The benchmark 10-year yield ended at 7.0567 percent, following its previous close of 7.0601 percent.

Key Highlights

The inclusion will be phased in over 10 months ending October 2025, with the weight of India FAR bonds increased in increments of 10 percent of their full market value every month during the period.

In September, JPMorgan announced the inclusion of Indian bonds in its emerging market debt index from June 2025 with traders anticipating inflows of around $25 billion to $30 billion from it.

The Bloomberg index inclusion, on the other hand, is expected to bring in around $2.5 billion to $4 billion.

The Reserve Bank of India (RBI) has introduced the ‘Fully Accessible Route’ (FAR) from April 1, 2020.

This channel allows non-residents to invest in specified government bonds without any restrictions.

The FAR initiative opens certain specified categories of government bonds fully for non-resident investors.

Under FAR, eligible investors can invest in specified government securities without any investment ceilings.

FAR operates alongside the existing routes, namely the Medium Term Framework (MTF) and the Voluntary Retention Route (VRR).


18) Answer: D

International Women’s Day 2024 is celebrated on 8th March 2024.

The International Women’s Day 2024 theme is “Invest in women: Accelerate progress”

International Women’s Day History

In 1869, Susan B. Anthony and Elizabeth Cady Stanton started the National Women’s Suffrage Association to fight for women’s rights

Clara Zetkin proposes a Women’s Day celebration, and International Women’s Day is celebrated annually from this point forth that is a day for Women in 1911.

In 1965, the women’s liberation movement fought for politics, work, the family, and sexuality, and all women were given the right to vote.

In the 2000s, with the help of the internet, the message of feminism became unified with a focused direction.


19) Answer: E

Shri Pushkar Singh Dhami, an MoU was signed between CSIR Indian Institute of Petroleum, Dehradun and UCOST under the aegis of the “Adarsh Champawat” mission.

Dr Harendra Singh Bisht, Director of the Indian Institute of Petroleum and Professor Durgesh Pant, Director General of UCOST, signed the MoU documents and inaugurated a historic project on deploying the technology of making fuel from Pine Needles in Champawat.

Key Highlights

Under this agreement, the CSIR – Indian Institute of Petroleum will implement two major technologies at the grassroots level in Champawat.

The selected technologies include a briquetting unit with a capacity of 50 kg per hour based on Pine Needles and 500 units of Improved Cookstoves for rural households.

An extended field trial study will be conducted regarding energy conservation and its environmental impact.

The briquetting unit will be established in the Energy Park in Champawat as a part of the Women Empowerment initiative.

The briquettes produced will be used as fuel in homes and local industries.


20) Answer: D

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) for establishing a framework to promote the use of local currencies — the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.

The MoU was signed by the Governor, of the Reserve Bank of India, Shaktikanta Das and the Governor, of Bank Indonesia, Perry Warjiyo.

The MoU on establishing a framework for cooperation in the area of cross-border transactions in local currencies between India and Indonesia aims to promote the use of INR and IDR bilaterally.

Key Highlights

The MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries.

This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market.

The use of local currencies would optimize costs and settlement time for transactions.

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