Daily Current Affairs Quiz - 10th May 2024

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 10th May 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) In which loans does the Reserve Bank of India advise NBFCs to maintain Rs 20,000 limit for cash disbursement?

(a) Education

(b) Personal

(c) Home

(d) Gold

(e) Business


2)
Which digital platforms dominated the UPI market in April 2024, accounting for 49% of the total?

(a) Paytm

(b) Phonepe

(c) Razorpay

(d) Gpay

(e) Amazonpay


3)
Sesame, India's First Large Language Model for the Banking, Financial Services, and Insurance Sector, is Launched by Setu. Which Indian AI research company collaborated with Sesame on its development?

(a) Nvidia

(b) IBM

(c) Kellton

(d) Sarvam

(e) Oracle


4)
In the face of persistent global uncertainty, central banks make significant investments in gold. Which country, together with China, has surpassed India in gold acquisitions so far in 2024?

(a) UAE

(b) Oman

(c) Turkey

(d) Japan

(e) South Korea


5)
Soft Bank leads how many billions of dollars in funding for UK self-driving startup Wayve?

(a) $1.05billion

(b) $2.05billion

(c) $0.50billion

(d) $1.50billion

(e) $2.50billion


6)
The Insurance Regulatory and Development Authority of India has imposed a Rs 1 crore fine on Go Digit Insurance's upcoming Initial Public Offering.Which Indian cricketer owns shares in this company?

(a) MS Dhoni

(b) Yuvaraj Singh

(c) Virat Kohli

(d) Rohit Sharma

(e) Hardik Pandya


7)
The 'Cool Summers of India' campaign by the Ministry of Tourism was unveiled during the Arabian Travel Mart in which city?

(a) Riyadh

(b) Dubai

(c) Karbala

(d) Mecca

(e) Abu dhabi


8)
Vaishali Ramesh Babu, an Indian chess prodigy, gets awarded the Grandmaster title by the International Chess Federation. Vaishali's feat as the ______ Indian grandmaster

(a) 82nd

(b) 84th

(c) 86th

(d) 88th

(e) 80th


9)
Which city hosted the F1 Miami Grand Prix where Lando Norris won his historic maiden victory?

(a) Florida

(b) New York

(c) Los Angeles.

(d) Chicago

(e) Houston


10)
Which state's first international cricket stadium will be ready by February 2025?

(a) Sikkim

(b) Arunachal Pradesh

(c) Tripura

(d) Mizoram

(e) Meghalaya


11)
According to a survey by a United Nations agency, which nation is the leading destination for Indian migrants?

(a) India

(b) USA

(c) UAE

(d) Mexico

(e) Egypt


12)
The Indian Coast Guard has formed a partnership with Jindal Steel & Power to supply indigenous marine steel. In which year was the Coast Guard Act enacted?

(a) 1977

(b) 1975

(c) 1976

(d) 1978

(e) 1974


13)
In which state has INOX Air Products and Asahi India Glass signed a memorandum of understanding for the supply of green hydrogen to AIS's new float glass facility?

(a) Gujarat

(b) Rajasthan

(c) Haryana

(d) Odisha

(e) West Bengal


14)
The Boeing Starliner launch, which was scheduled to transport astronaut Sunita Williams to space, has been postponed. The Boeing Starliner is a partially reusable crew capsule, formally called as________

(a) CST-150

(b) CST-100

(c) CST-200

(d) CST-250

(e) CST-500


15)
In conjunction with CII, the Department of Pharmaceuticals has launched Meditech Stackathon 2024. India has the _____ largest market for medical devices in Asia.

(a) 3rd

(b) 4th

(c) 5th

(d) 6th

(e) 7th


16)
Thailand Expands the Visa Waiver Program for Travelers from Taiwan and India by an Additional Six Months. For how many days can visitors from Taiwan and India remain in Thailand without a visa?

(a) 15days

(b) 30days

(c) 45days

(d) 20days

(e) 25days


17)
Which company has its Artificial Intelligence Management System certified under ISO 42001:2023?

(a) Accenture

(b) Infosys

(c) Wipro

(d) TCS

(e) IBM


18)
Amazon debuts the first electric seaport trucks as part of a bid to reduce exhaust emissions.In which year marks the endeavor crucial for the company's goal of reaching net-zero carbon emissions?

(a) 2035

(b) 2038

(c) 2040

(d) 2030

(e) 2047


19)
Which digital card payment platform appointed Sujai Raina as the country manager for India?

(a) Mastercard

(b) Rupay

(c) Visa

(d) American Express

(e) Diners club


20)
Which state hosted the Joint Exercise Gagan Strike-II between the Indian Army's Western Command and the Indian Air Force?

(a) Gujarat

(b) Rajasthan

(c) Haryana

(d) Odisha

(e) Punjab


Answers :

1) Answer: D

  • The Reserve Bank of India (RBI) has issued a caution to non-banking finance companies (NBFCs) that offer gold loans, warning them against exceeding the Rs 20,000 limit for cash loan disbursal.
  • The advisory refers to Section 269 SS of the Income Tax Act, 1961, which prohibits any individual from receiving more than Rs 20,000 as a loan amount in cash.
  • The gold loan asset under management for this NBFC is about Rs 24,700 crore, accounting for about 31% of its total asset under management.

Detailed Explanation:

  • The Reserve Bank of India (RBI) has issued a caution to non-banking finance companies (NBFCs) that offer gold loans, warning them against exceeding the Rs 20,000 limit for cash loan disbursal.
  • The advisory refers to Section 269 SS of the Income Tax Act, 1961, which prohibits any individual from receiving more than Rs 20,000 as a loan amount in cash.
  • Reason for Cap: This move by the RBI aims to discourage cash transactions, promoting transparency and traceability in financial transactions.
  • NBFC's Gold Loan Operations: Non-banking financial companies (NBFCs) are significant providers of gold loans.
  • IIFL Finance, for example, operates over 2,721 dedicated gold loan branches across 25 states/UTs and employs around 15,000 staff.
  • The gold loan asset under management for this NBFC is about Rs 24,700 crore, accounting for about 31% of its total asset under management.
  • Market Share of Gold Loans: NBFCs hold a substantial share in the gold loan market, although their growth has lagged behind banks. In 2022-23, gold loans accounted for 7% of total loans issued by NBFCs, a slight decline from 61.7% in the previous year.
  • Regulatory Requirements: NBFCs offering gold loans are required to maintain a Loan-to-Value (LTV) ratio not exceeding 75% for loans backed by gold jewellery.


2) Answer: B

  • Digital payments platform PhonePe has continued to be the number one player in the unified payments interface (UPI) ecosystem with a market share of close to 49% in April 2024 across P2M (person to merchant) and P2P (person to person) transactions.
  • PhonePe has maintained the top position in UPI transactions for over 40 months since November 2020.
  • UPI Transactions Data for April 2024:According to data issued by the National Payments Corporation of India (NPCI), PhonePe clocked5 billion transactions through UPI out of the total 13.3 billion transactions. In terms of value, the company clocked transactions worth Rs 10 trillion.
  • Paytm ranked third, with 1.1 billion transactions, representing 8.3% of the UPI market by volume.

Detailed Explanation:

  • Digital payments platform PhonePe has continued to be the number one player in the unified payments interface (UPI) ecosystem with a market share of close to 49% in April 2024 across P2M (person to merchant) and P2P (person to person) transactions.
  • PhonePe has maintained the top position in UPI transactions for over 40 months since November 2020.
  • UPI Transactions Data for April 2024:According to data issued by the National Payments Corporation of India (NPCI), PhonePe clocked5 billion transactions through UPI out of the total 13.3 billion transactions. In terms of value, the company clocked transactions worth Rs 10 trillion.
  • Google Pay and Paytm's Market Share: Google Pay ranked second, with 5 billion transactions in April, representing 5% of the UPI market by volume.
  • It handled transactions worth Rs 6.9 trillion.
  • Paytm ranked third, with 1.1 billion transactions, representing 8.3% of the UPI market by volume.
  • It handled transactions worth Rs 1.2 trillion.
  • UPI Market Share by Value:PhonePe held a 51% market share in terms of transaction value.
  • Google Pay and Paytm held 35% and 5% market share, respectively.
  • Declining Trends for Paytm : For Paytm, this is the third consecutive decline in terms of monthly transactions in 2024.
  • The Paytm app clocked 1.2 billion transactions in March and 1.4 billion transactions in February.
  • Other Major UPI Players:CRED was the 4th largest UPI application in April 2024, with a transaction volume of 138.5 million.
  • Amazon Pay and Fampay followed, with 64.33 million and 46.64 million transactions, respectively.


3) Answer: D

  • Setu, an Indian fintech company part of the Pine Labs Group, unveiled Sesame, India's first Large Language Model (LLM) specifically designed for the banking, financial services, and insurance (BFSI) sector.
  • Sesame was developed in collaboration with Sarvam AI, an Indian AI research firm.
  • Setu claims that Sesame represents a "ChatGPT moment" for the financial services sector, indicating a breakthrough in AI technology for BFSI.

Detailed Explanation:

  • Setu, an Indian fintech company part of the Pine Labs Group, unveiled Sesame, India's first Large Language Model (LLM) specifically designed for the banking, financial services, and insurance (BFSI) sector.
  • Sesame was developed in collaboration with Sarvam AI, an Indian AI research firm.
  • Setu claims that Sesame represents a "ChatGPT moment" for the financial services sector, indicating a breakthrough in AI technology for BFSI.
  • The unveiling took place at Adbhut India, an event organised by the non-profit People+ai, in the presence of Nandan Nilekani (co-founder and director of EkStep Foundation), Shankar Maruwada (co-founder and chief executive officer of EkStep Foundation), Tanuj Bhojwani (head of People+ai), and other prominent figures in fintech, AI, and digital public infrastructure.
  • The model's design is both domain and region-specific, having been trained on custom data relevant to India's BFSI sector.
  • It also aims to provide hyper-personalised financial services to its customers across their entire lifecycle.


4) Answer: C

  • According to the World Gold Council (WGC), central banks worldwide continued to increase their gold reserves in March 2024 with significant purchases led by emerging market banks.
  • Central banks accounted for 23% of the overall gold demand, totalling 1,238 tonnes in the March quarter.
  • Central banks collectively added 16 tonnes of gold to their reserves in March, matching the additions seen in February, 2024.
  • Global Comparisons: Turkey and China surpassed India in gold acquisitions so far in 2024, with 30 tonnes and 29 tonnes, respectively

Detailed Explanation:

  • According to the World Gold Council (WGC), central banks worldwide continued to increase their gold reserves in March 2024 with significant purchases led by emerging market banks.
  • Central banks accounted for 23% of the overall gold demand, totalling 1,238 tonnes in the March quarter.
  • Central banks collectively added 16 tonnes of gold to their reserves in March, matching the additions seen in February, 2024.
  • RBI's Gold Purchases: The Reserve Bank of India (RBI) notably contributed to this trend by purchasing 5 tonnes of gold in the first quarter of 2024, pushing its reserves to a record high.
  • India's Gold Reserves: India's gold reserves stood at 1 tonnes by the end of March, comprising 9% of its total reserves and ranking it as the 10th-largest holder of official gold globally.
  • Global Comparisons: Turkey and China surpassed India in gold acquisitions so far in 2024, with 30 tonnes and 29 tonnes, respectively
  • China's gold reserves reached 2,262.4 tonnes by the end of March
  • It included the Central Bank of Turkey with 14 tonnes, the National Bank of Kazakhstan and the Monetary Authority of Singapore each with 4 tonnes, the Central Bank of Russia with 3 tonnes, the Czech National Bank with 1 tonne, and the National Bank of the Kyrgyz Republic also with 1 tonne.
  • Overall Gold Reserves: As of the end of February 2024 global central banks collectively held 35,938.9 tonnes of gold reserves, highlighting gold's continued importance as a reserve asset for central banks worldwide.


5) Answer: A

  • Wayve, a British self-driving technology startup, has secured $1.05 billion in a funding round led by SoftBank Group.
  • Nvidia, a new investor, and existing investor Microsoft also contributed to the Series C funding round.
  • Purpose of Funding: To accelerate the development and launch of Wayve's Embodied AI technology, which can learn from and adapt to human behavior.

Detailed Explanation:

  • Wayve, a British self-driving technology startup, has secured $1.05 billion in a funding round led by SoftBank Group.
  • Nvidia, a new investor, and existing investor Microsoft also contributed to the Series C funding round.
  • Purpose of Funding: To accelerate the development and launch of Wayve's Embodied AI technology, which can learn from and adapt to human behavior.
  • Total Funds Raised and Significance:With this funding, Wayve has raised over $1.3 billion in total, marking it as the largest investment in a British startup focused on artificial intelligence technology.
  • Wayve's Technology Integration:Wayve's technology is currently integrated into six different vehicle platforms, including electric vehicles like the Jaguar I-PACE and Ford Mustang MachE, as part of advanced driver assistance systems (ADAS).


6) Answer: C

  • The Insurance Regulatory and Development Authority of India (IRDAI) imposed a penalty of Rs 1 crore on Go Digit General Insurance for non-disclosure of a change in the conversion ratio of compulsorily convertible preference shares (CCPS).
  • The insurance regulator had earlier issued a show cause notice after noticing that Go Digit had changed its conversion ratio of 63,00,000 CCPS issued by Go Digit Infoworks Services Pvt Ltd (GDISPL), the parent company of the general insurer, to FAL Corporation, owned by Fairfax Group.
  • Ace Indian cricketer Virat Kohli and his actress wife Anushka Sharma are also among the shareholders of the company.

Detailed Explanation:

  • The Insurance Regulatory and Development Authority of India (IRDAI) imposed a penalty of Rs 1 crore on Go Digit General Insurance for non-disclosure of a change in the conversion ratio of compulsorily convertible preference shares (CCPS).
  • The insurance regulator had earlier issued a show cause notice after noticing that Go Digit had changed its conversion ratio of 63,00,000 CCPS issued by Go Digit Infoworks Services Pvt Ltd (GDISPL), the parent company of the general insurer, to FAL Corporation, owned by Fairfax Group.
  • This was shown in an amendment to the joint venture (JV) agreement dated August 11, 2023.
  • The company had not furnished the full particulars of the revision to the regulator, violating Section 26 of the Insurance Act.
  • In March,2024 Go Digit General Insurer received final approval from the Securities and Exchange Board of India (SEBI) to raise funds worth Rs 1,250 crore through an initial public offering (IPO), which will be used to augment the company’s capital base, maintain solvency levels, and fulfil general corporate purposes.
  • FAL Corporation is owned by Canada-based Fairfax Financial Holdings, which owns 45.3% of GDISPL while the rest is owned by founder Kamesh Goyal and Oben Ventures LLP at 14.96% and 39.79%, respectively.
  • GDISPL further has an 83.47% stake in Digit Insurance.
  • Ace Indian cricketer Virat Kohli and his actress wife Anushka Sharma are also among the shareholders of the company.


7) Answer: B

  • The Ministry of Tourism, Government of India is participating in Arabian Travel Mart 2024, is being held in Dubai.
  • The event marks a significant step in strengthening India's presence in the Middle East tourism market.
  • Ministry of Tourism has launched the ‘Cool Summers of India’ campaign at Arabian Travel Mart.

Detailed Explanation:

  • The Ministry of Tourism, Government of India is participating in Arabian Travel Mart 2024, is being held in Dubai.
  • The event marks a significant step in strengthening India's presence in the Middle East tourism market.
  • Ministry of Tourism has launched the ‘Cool Summers of India’ campaign at Arabian Travel Mart.
  • This digital campaign challenges the notion of India being too hot for summer travel, emphasizing its offerings in hill resorts, including the Himalayas.
  • The event provides a platform for Indian tourism players to exhibit their offerings, forge alliances within the industry, and attract visitors from the MENA region.


8) Answer: B

  • Indian Chess Prodigy, Vaishali Ramesh Babu has been awarded the title of Grandmaster by FIDE.
  • Vaishali is the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
  • Vaishali's accomplishment, as the 84th Indian grandmaster and 42nd woman from any country to become a GM, has already been widely recognized.

Detailed Explanation:

  • Indian Chess Prodigy, Vaishali Ramesh Babu has been awarded the title of Grandmaster by FIDE.
  • Vaishali is the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
  • Vaishali completed the requisite 2500 ELO points at the Llobregat Open tournament in Spain, last year.
  • However, the title was officially given to her only recently following the FIDE Council meeting during the Candidates Tournament in Toronto last month.
  • Vaishali's accomplishment, as the 84th Indian grandmaster and 42nd woman from any country to become a GM, has already been widely recognized.
  • In January 2024, she was presented with the Arjuna Award.


9) Answer: A

  • The 24-year-old British Formula 1(F1) driver Lando Norris finally won his maiden F1 title by winning the Miami Grand Prix held at the Miami International Autodrome in Miami,Florida, in the United States of America.
  • He also broke the dominance of the Red Bulls Max Verstappen, who won four out of six races ofthe 2024 F1 season.

Detailed Explanation:

  • The 24-year-old British Formula 1(F1) driver Lando Norris finally won his maiden F1 title by winning the Miami Grand Prix held at the Miami International Autodrome in Miami,Florida, in the United States of America.
  • He also broke the dominance of the Red Bulls Max Verstappen, who won four out of six races ofthe 2024 F1 season.
  • Lando Norris, who is currently with McLaren’s team, made his debut in the F1 circuit at the Australian Grand Prix in 2019.
  • Before the 2024 Miami Grand Prix win, he claimed second place eight times in his career.
  • In his 110th Grand Prix at Miami, he finally won his first F1 race title.


10) Answer: C

  • Tripura Cricket Association (TCA) is set to inaugurate the state’s first international cricket stadium in Narsingarh, located in the West Tripura district, with a one-day international match or an IPL (Indian Premier League) T20 encounter.
  • Subrata Dey, the secretary of TCA, announced that the stadium is expected to be operational for hosting major cricket events by February 2025.
  • This stadium will have a capacity of more than 25,000.
  • Tripura will witness international and T20 matches next year.

Detailed Explanation:

  • Tripura Cricket Association (TCA) is set to inaugurate the state’s first international cricket stadium in Narsingarh, located in the West Tripura district, with a one-day international match or an IPL (Indian Premier League) T20 encounter.
  • Subrata Dey, the secretary of TCA, announced that the stadium is expected to be operational for hosting major cricket events by February 2025.
  • It will be the northeastern state’s first stadium.
  • It is being constructed with a budget of Rs 200 crore.
  • BCCI and Tripura Cricket Association have joined hands to construct this stadium. Its construction was started in 2017.
  • This stadium will have a capacity of more than 25,000.
  • Tripura will witness international and T20 matches next year.


11) Answer: C

  • The United Arab Emirates (UAE) is the top destination for Indian migrants, according to a report by a United Nations agency.
  • The International Organisation for Migration (IOM), announced that India received over $111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the $100 billion mark.
  • The International Organisation for Migration (IOM), in its World Migration Report 2024: in 2022, India, Mexico, China, the Philippines and Egypt were the top five remittance recipient countries.

Detailed Explanation:

  • The United Arab Emirates (UAE) is the top destination for Indian migrants, according to a report by a United Nations agency.
  • The International Organisation for Migration (IOM), announced that India received over $111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the $100 billion mark.
  • The International Organisation for Migration (IOM), in its World Migration Report 2024: in 2022, India, Mexico, China, the Philippines and Egypt were the top five remittance recipient countries.
  • India was well above the rest, receiving more than $111 billion, the first country to reach and even surpass the $100 billion mark.
  • Mexico was the second-largest remittance recipient in 2022, a position it also held in 2021 after overtaking China, which historically had been the second-biggest recipient after India.
  • United States has consistently been the top remittance-sending country, with a total outflow of $79 billion in 2022, followed by Saudi Arabia ($39 billion), Switzerland ($31.9 billion), and Germany ($25.6 billion).
  • Three countries in Southern Asia - India, Pakistan and Bangladesh, rank among the top ten recipients of international remittances in the world, underscoring the significance of labour migration from the subregion.
  • The report also stated that India is the 13th most popular destination for immigrants, with 4.48 million people coming from other countries to live in India.
  • India – United Arab Emirates, India– the US, India–Saudi Arabia and Bangladesh–India were among the top 10 international country-to-country migration corridors.


12) Answer: D

  • Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a memorandum of understanding (MoU) in New Delhi for the supply of indigenous marine-grade steel to enhance the local content in shipbuilding.
  • It was formally established on 1 February 1977 by the Coast Guard Act, 1978 of the Parliament of India. It operates under the Ministry of Defence.

Detailed Explanation:

  • Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a memorandum of understanding (MoU) in New Delhi for the supply of indigenous marine-grade steel to enhance the local content in shipbuilding.
  • Through this partnership, both entities have committed to fostering indigenisation, enhancing capabilities to produce and use these items in the nation’s interest.
  • The MoU underscores the importance of public-private partnerships in addressing complex security challenges, emphasising the need for collaboration between government agencies and the private sector.

About ICG

  • The Indian Coast Guard is a coast guard of India with jurisdiction over its territorial waters including its contiguous zone and exclusive economic zone.
  • It was formally established on 1 February 1977 by the Coast Guard Act, 1978 of the Parliament of India. It operates under the Ministry of Defence.
  • Rakesh Pal- Director General of the Indian Coast Guard.


13) Answer: B

  • INOX Air Products, a manufacturer of industrial and medical gases, has signed a Memorandum of Understanding (MoU) with Asahi India Glass Limited (AIS) for a 20-year offtake agreement to supply green hydrogen to AIS’s greenfield float glass facility in Soniyana, Chittorgarh, Rajasthan.
  • The company stated that this will be India’s first-ever green hydrogen plant for the float glass industry.

Detailed Explanation:

  • INOX Air Products, a manufacturer of industrial and medical gases, has signed a Memorandum of Understanding (MoU) with Asahi India Glass Limited (AIS) for a 20-year offtake agreement to supply green hydrogen to AIS’s greenfield float glass facility in Soniyana, Chittorgarh, Rajasthan.
  • The company stated that this will be India’s first-ever green hydrogen plant for the float glass industry.
  • The plant will have a capacity to generate up to 190 tonnes of green hydrogen per annum through the electrolysis process.
  • It is slated for commissioning by July 2024 and will be powered by solar energy.
  • In the first phase, 95 tonnes per annum (TPA) of green hydrogen will be supplied to AIS.


14) Answer: B

  • The launch of the Boeing Starliner, which was set to take astronaut Sunita Williams to space for a 3rd time, has been postponed due to a technical glitch.
  • The Boeing Starliner is a partially reusable crew capsule, officially known as CST-100 (Crew Space Transportation).
  • On its first crewed test flight, Boeing’s Starliner spacecraft would be carrying two NASA astronauts and will be launched on an Atlas V rocket from the Kennedy Space Center to the International Space Station (ISS).
  • The two NASA astronauts are Barry “Butch” Wilmore and Sunita William.

Detailed Explanation:

  • The launch of the Boeing Starliner, which was set to take astronaut Sunita Williams to space for a 3rd time, has been postponed due to a technical glitch.
  • The Boeing Starliner is a partially reusable crew capsule, officially known as CST-100 (Crew Space Transportation).
  • On its first crewed test flight, Boeing’s Starliner spacecraft would be carrying two NASA astronauts and will be launched on an Atlas V rocket from the Kennedy Space Center to the International Space Station (ISS).
  • The two NASA astronauts are Barry “Butch” Wilmore and Sunita William.
  • If the mission is successful, Boeing will become the second private firm to be able to provide NASA crew transport to and from the ISS, alongside Elon Musk’s SpaceX.
  • The main objective of the mission is to see how Starliner performs in space with a crew onboard.
  • The space suits worn by Wilmore and Williams will also be tested - these blue suits are around 40% lighter than their predecessors and have touchscreen-sensitive gloves.
  • While SpaceX has been ferrying astronauts to and from the ISS since 2020, Boeing is yet to successfully launch its first crewed flight.


15) Answer: B

  • The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers launched the MEDITECH STACKATHON 2024.
  • MEDITECH STACKATHON 2024 was launched in New Delhi in collaboration with the Confederation of Indian Industry (CII).
  • The STACKATHON included several topics, including critical care, imaging, and cancer therapy.
  • India is the 4th largest market for medical devices in Asia and among the top 20 globally.

Detailed Explanation:

  • The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers launched the MEDITECH STACKATHON 2024.
  • MEDITECH STACKATHON 2024 was launched in New Delhi in collaboration with the Confederation of Indian Industry (CII).
  • Its goal is to transform the rapidly expanding MedTech industry in India by carefully examining the value chain of certain medical products.
  • Its objective is to address significant issues, encourage domestic production, reduce dependency on imports, and eventually position India as a world leader in medical technology.
  • The STACKATHON included several topics, including critical care, imaging, and cancer therapy.
  • India is the 4th largest market for medical devices in Asia and among the top 20 globally.
  • India's MedTech industry holds immense potential, with projections estimating a growth rate of 28% annually, reaching a size of USD 50 billion by 2030.


16) Answer: B

  • Thailand's cabinet approved a 6-month extension of the visa exemption program for tourists from India and Taiwan to boost foreign tourist arrivals and support the country's economy.
  • The extended visa waiver will run until November 11, 2024, after the existing program.
  • Tourists from India and Taiwan can stay in Thailand without a visa for up to 30 days.
  • Without the visa waiver, Indian and Taiwanese tourists would be limited to a 15-day stay under the visa-on-arrival scheme.
  • The Thai government under Prime Minister Srettha Thavisin aims to attract 80 million tourists by 2027.

Detailed Explanation:

  • Thailand's cabinet approved a 6-month extension of the visa exemption program for tourists from India and Taiwan to boost foreign tourist arrivals and support the country's economy.
  • The extended visa waiver will run until November 11, 2024, after the existing program.
  • Tourists from India and Taiwan can stay in Thailand without a visa for up to 30 days.
  • Background and Impact of Visa Waiver:The extension follows the success of the initial waiver introduced in November 2023.
  • Without the visa waiver, Indian and Taiwanese tourists would be limited to a 15-day stay under the visa-on-arrival scheme.
  • Tourism Industry in Thailand:Thailand has been relaxing visa rules for travelers from key markets, including China and Russia, as part of its strategy to boost tourism.
  • In the first four months of 2024, Thailand welcomed over 12 million foreign tourists, a 39% increase from the same period in 2023.
  • The largest groups of visitors to Thailand are from China, Malaysia, Russia, South Korea, and India, accounting for half of the total tourist arrivals.
  • Importance of Tourism to Thailand's Economy:Tourism accounts for about 20% of total jobs and makes up about 12% of Thailand's $500 billion economy.
  • The Thai government under Prime Minister Srettha Thavisin aims to attract 80 million tourists by 2027.


17) Answer: B

  • Infosys announced that it has been certified with ISO 42001:2023, the world’s first international standard on AI management systems, by TUV India (part of TUV Nord Group), a leading independent provider of technical quality and safety services.
  • Infosys is among the first IT services companies globally to have earned the certification for implementing an Artificial Intelligence Management System (AIMS) framework that fosters responsible AI practices and adherence to regulatory requirements for enhanced efficiency and accountability in AI initiatives.

Detailed Explanation:

  • Infosys announced that it has been certified with ISO 42001:2023, the world’s first international standard on AI management systems, by TUV India (part of TUV Nord Group), a leading independent provider of technical quality and safety services.
  • Infosys is among the first IT services companies globally to have earned the certification for implementing an Artificial Intelligence Management System (AIMS) framework that fosters responsible AI practices and adherence to regulatory requirements for enhanced efficiency and accountability in AI initiatives.
  • This AIMS framework is a part of Infosys Topaz Responsible AI Suite, a set of 10+ offerings built around the Scan, Shield, and Steer framework.
  • The ISO 42001:2023 certification provides a clear roadmap and systematic approach to AI management, through effective risk mitigation and streamlined processes.


18) Answer: C

  • com unveiled the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in southern California.
  • The e-commerce giant said it already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035.
  • The effort is vital to the company's push to reach net-zero carbon emissions by 2040.

Detailed Explanation:

  • com unveiled the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in southern California.
  • The e-commerce giant said it already has eight of those semi trucks in use at the Los Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions by 2035.
  • The deployment is a first for Amazon, extending its vehicle electrification projects across its land-based logistics network that stretches from ocean ports to customer doorsteps.
  • The effort is vital to the company's push to reach net-zero carbon emissions by 2040.
  • In the near term, Amazon's electric port trucks will charge at an offsite facility operated by Forum Mobility, a startup that counts Amazon's Climate Pledge fund among its early investors.


19) Answer: C

  • Digital payments platform Visa has appointed Sujai Raina as the country manager for India.
  • In addition to his responsibilities as Country Manager, he will continue to lead business development for Visa in India.
  • Raina joined Visa in 2020 and previously served as Vice President and Head of Business Development, India.
  • Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia.

Detailed Explanation:

  • Digital payments platform Visa has appointed Sujai Raina as the country manager for India.
  • Raina will be responsible for the India business, leading and executing Visa's strategic initiatives for the market, partnering with clients and the payments ecosystem.
  • In addition to his responsibilities as Country Manager, he will continue to lead business development for Visa in India.
  • Raina joined Visa in 2020 and previously served as Vice President and Head of Business Development, India.
  • Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia.
  • He will oversee operations in India and other markets in the subcontinent, including Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives.


20) Answer: E

  • The Indian Army’s Kharga Corps, part of the Army’s Western Command, concluded a 3-day joint military exercise Gagan Strike-II with the Indian Air Force (IAF) in Punjab.
  • Aim : To validate various force multipliers supporting ground offensives by strike corps and integrated operations between the Army and Air Force.
  • Lt-Gen Manoj Kumar Katiyar, General Officer Commanding-in-Chief, Western Command, and the General Officer Commanding, Kharga Corps, reviewed the exercise.
  • Components and Equipment Used : The exercise incorporated Apache and Advanced Light Helicopter-Weapon System Integrated (ALH-WSI) helicopters, Unarmed Aerial Vehicles (UAVs), and Indian Army special forces.

Detailed Explanation:

  • The Indian Army’s Kharga Corps, part of the Army’s Western Command, concluded a 3-day joint military exercise Gagan Strike-II with the Indian Air Force (IAF) in Punjab.
  • Aim : To validate various force multipliers supporting ground offensives by strike corps and integrated operations between the Army and Air Force.
  • Lt-Gen Manoj Kumar Katiyar, General Officer Commanding-in-Chief, Western Command, and the General Officer Commanding, Kharga Corps, reviewed the exercise.
  • Components and Equipment Used : The exercise incorporated Apache and Advanced Light Helicopter-Weapon System Integrated (ALH-WSI) helicopters, Unarmed Aerial Vehicles (UAVs), and Indian Army special forces.
  • Exercise Focus and Goals: The focus was on practising centralized and decentralized attack helicopter missions supported by other force multipliers in a dense air defence environment.
  • Engagement of both planned and impromptu targets on the battlefield was part of the objectives.
  • Ground force commanders utilized aerial assets, including drones, to enhance situational awareness and facilitate the destruction of mobile and static targets.
  • Outcome of the Exercise:Gagan Strike-II provided an opportunity for formations and units of Western Command to execute joint operations.
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