Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 12th July 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) As per July 2024 report, What is the coupon rate on the 15-year infrastructure bonds that State Bank of India (SBI) issued to raise ₹10,000 crore?

(a) 7.32%

(b) 7.30%

(c) 7.34%

(d) 7.36%

(e) 7.38%

2) The Reserve Bank of India (RBI) has permitted banks to utilize Brickwork Ratings India Private Limited ratings for loans of up to how much crore?

(a) Rs.100crore

(b) Rs.150crore

(c) Rs.200crore

(d) Rs.250crore

(e) Rs.300crore

3) In July 2024, Finance Minister Nirmala Sitharaman was given dividend checks of Rs 6,481 crore by four public sector banks (PSBs) for the fiscal year 2023–2024. According to the report, which PSB bank is not listed?

(a) Bank of Baroda

(b) Bank of India

(c) Canara bank

(d) Indian bank

(e) Indian Overseas bank

4) In June 2024, inflows into equity mutual funds increased by what percentage to Rs 40,608.19 crore, as per the latest data released by the Association of Mutual Funds of India (AMFI)?

(a) 17%

(b) 16%

(c) 15%

(d) 12%

(e) 19%

5) The standards for retail investors have been raised by the Securities and Exchange Board of India's (SEBI) expert working committee on derivatives trading. How much is the Current Lot Size in Futures and Options (F&O) contracts with Lot Size Increase?

(a) Rs.2lakh

(b) Rs.1lakh

(c) Rs.4lakh

(d) Rs.5lakh

(e) Rs.3lakh

6) Which year's Insolvency and Bankruptcy Code flaws need to be addressed by the government, according to State Bank of India's (SBI) Economic Research Department (ERD), in order to shorten the time it takes to resolve corporate insolvencies?

(a) 2012

(b) 2014

(c) 2016

(d) 2017

(e) 2018

7) Paytm has received permission to spend how many million dollars in a significant subsidiary, Paytm Payment Services, from a government council that monitors investments related to China?

(a) Rs.500 million

(b) Rs.100 million

(c) Rs.200 million

(d) Rs.600 million

(e) Rs.800 million

8) The Financial Action Task Force's (FATF) Mutual Evaluation Report 2023–24 features only one Indian non-banking financial company (NBFC), Muthoot Finance.Which year did the international Financial Action Task Force (FATF) come into being?

(a) 1987

(b) 1989

(c) 1988

(d) 1986

(e) 1985

9) As per the report, ENGIE SA and the Asian Development Bank are working together to build a 400 megawatt solar power plant in Gujarat, India. For the next 25 years, the facility wants to produce how many gigawatt-hours on average annually?

(a) 805 gigawatt-hours

(b) 803 gigawatt-hours

(c) 801 gigawatt-hours

(d) 800 gigawatt-hours

(e) 810 gigawatt-hours

10) To facilitate passenger travel, the Indian Railways, which Metro Rail Corporation, and the Centre for Railway Information System (CRIS) launched the One India-One Ticket initiative?

(a) Kolkata

(b) Delhi

(c) Chennai

(d) Mumbai

(e) Bengaluru

11) The Paradip Port Authority (PPA) has accomplished a remarkable feat in its operating history by managing an unparalleled_______ Million Metric Tons (MMT) of cargo in the initial 100 days of the 2024–25 fiscal year.

(a) 41.12MMT

(b) 40.12MMT

(c) 42.12MMT

(d) 43.12MMT

(e) 45.12MMT

12) The first meeting of the National One Health Mission's executive committee was presided over by Union Health Minister JP Nadda. Who is the current NITI Aayog Member (Health)?

(a) P.K Paul

(b) V.K Paul

(c) H.P Paul

(d) M.K Paul

(e) S.K Paul

13) For the fiscal year 2024–2025, the Indian government is expected to set a target of how many trillion for agricultural lending by commercial, cooperative, and regional rural banks?

(a) Rs 24 trillion

(b) Rs 21 trillion

(c) Rs 22 trillion

(d) Rs 25 trillion

(e) Rs 20 trillion

14) According to statistics from the National Statistical Office (NSO), the total index would rise 1.2% month over month at 4.9%, which would be the quickest rate in how many months?

(a) 10months

(b) 11months

(c) 12months

(d) 15months

(e) 6months

15) According to Morgan Stanley, a US investment firm, the Indian central government is expected to stick to the interim budget and maintain its fiscal deficit target of what percentage of GDP for FY25?

(a) 5.1%

(b) 5.0%

(c) 5.2%

(d) 5.3%

(e) 5.5%

16) A possible assault by "mercenary spyware" similar to Pegasus, which seeks to remotely control iPhones, was alerted to select Indian iPhone owners by Apple.Since _______, Apple has sent out similar alerts to consumers in more than 150 nations.

(a) 2020

(b) 2022

(c) 2021

(d) 2019

(e) 2023

17) Who has been named CEO and managing director (MD) of Paytm Payments Bank, an affiliate of One97 Communications (OCL), the company that runs the Paytm brand?

(a) Arun Kumar Bansal

(b) Srinivasan Sridhar

(c) Debendranath Sarangi

(d) Ashok Kumar Garg

(e) Rajni Sekhri Sibal

18) An Iranian reformer and former health minister Masoud Pezeshkian emerged victorious in the _________ presidential contest.

(a) 12th

(b) 13th

(c) 14th

(d) 15th

(e) 16th

19) The manager of the men's national football team of the Republic of Ireland is now Icelandic coach Heimir Hallgrimsson. Which year did he lead Iceland to their first-ever World Cup finals in Russia?

(a) 2014

(b) 2016

(c) 2017

(d) 2018

(e) 2019

20) When was the global celebration and observance of World Malala Day 2024 held as a mark of honor?

(a) July 12

(b) July 11

(c) July 10

(d) July 13

(e) July 8

Answers :

1) Answer: D

Short Explanation:

State Bank of India (SBI) has raised ₹10,000 crore via a 15-year infrastructure bond issue at a coupon rate of 7.36%.

This is the bank's 2nd infrastructure bond issuance in about a fortnight, with the previous one also raising ₹10,000 crore at the same coupon rate.

The latest bond issue, which is the bank’s 6th infrastructure bond issuance so far, received bids in excess of ₹18,145 crore and was oversubscribed by around 3.6 times against the base issue size of ₹5,000 crore.

Detailed Explanation:

State Bank of India (SBI) has raised ₹10,000 crore via a 15-year infrastructure bond issue at a coupon rate of 7.36%.

This is the bank's 2nd infrastructure bond issuance in about a fortnight, with the previous one also raising ₹10,000 crore at the same coupon rate.

The latest bond issue, which is the bank’s 6th infrastructure bond issuance so far, received bids in excess of ₹18,145 crore and was oversubscribed by around 3.6 times against the base issue size of ₹5,000 crore.

Investor Participation:The bank received bids from 120 investors, including provident funds, pension funds, insurance companies, mutual funds, and corporates.

Bond Rating and Impact:The instrument is rated AAA with a stable outlook.

The total outstanding long-term bonds issued by the bank now stand at ₹59,718 crore.

2) Answer: D

Short Explanation:

The Reserve Bank of India (RBI) has allowed banks to use ratings by Brickwork Ratings India Private Limited for loans up to ₹250 crore.

Brickwork Ratings assigns ratings for all limits sanctioned by all banks while undertaking a bank loan rating exercise.

Background on Brickwork Ratings:The Certificate of Registration granted to Brickwork Ratings India as a Credit Rating Agency (CRA) was cancelled by the Securities and Exchange Board of India (SEBI) in October 2022.

Detailed Explanation:

The Reserve Bank of India (RBI) has allowed banks to use ratings by Brickwork Ratings India Private Limited for loans up to ₹250 crore.

Brickwork Ratings assigns ratings for all limits sanctioned by all banks while undertaking a bank loan rating exercise.

Background on Brickwork Ratings:The Certificate of Registration granted to Brickwork Ratings India as a Credit Rating Agency (CRA) was cancelled by the Securities and Exchange Board of India (SEBI) in October 2022.

Conditions for Using Brickwork Ratings:

Fresh rating mandates may be obtained from Brickwork Ratings for bank loans not exceeding ₹250 crore.

For existing ratings, Brickwork Ratings can continue to undertake rating surveillance irrespective of the rated amount until the residual tenure of such loans.

Authorised persons can facilitate remittances for all permissible purposes under LRS to IFSCs for availing financial services or financial products as per the International Financial Services Centres Authority Act, 2019.

3) Answer: E

Short Explanation:

4 public sector banks (PSBs) presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24.

Detailed Explanation:

4 public sector banks (PSBs) presented dividend cheques worth Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24.

Bank of Baroda (BoB):

Dividend cheque amount: Rs 2,514.22 crore

Presented by: Shri Debadatta Chand, Managing Director & CEO.

Bank of India:

Dividend cheque amount: Rs 935.44 crore

Presented by: Rajneesh Karnatak, Managing Director & CEO.

Indian Bank:

Dividend cheque amount: Rs 1,193.45 crore

Presented by: (Managing Director & CEO not specified).

Canara Bank:

Dividend cheque amount: Rs 1,838.15 crore

Presented by: K Satyanarayana Raju, Managing Director & CEO.

Additional Dividend Presentation:

EXIM Bank:

Dividend cheque amount: Rs 252 crore

Location: Mumbai-based financial institution.

4) Answer: A

Short Explanation:

According to the latest data released by the Association of Mutual Funds of India (AMFI), Inflows into equity mutual funds surged by 17% to Rs 40,608.19 crore (about $5 billion) in June,2024.

This follows a record high inflow of Rs 34,697 crore in the previous month, marking an 83.42% increase.

Assets Under Management (AUM):Mutual fund industry AUM reached Rs 61.16 lakh crore in June,2024 surpassing the Rs 60 lakh crore mark for the first time.

Detailed Explanation:

According to the latest data released by the Association of Mutual Funds of India (AMFI), Inflows into equity mutual funds surged by 17% to Rs 40,608.19 crore (about $5 billion) in June,2024.

This follows a record high inflow of Rs 34,697 crore in the previous month, marking an 83.42% increase.

Assets Under Management (AUM):Mutual fund industry AUM reached Rs 61.16 lakh crore in June,2024 surpassing the Rs 60 lakh crore mark for the first time.

Debt Mutual Funds:Debt mutual funds witnessed net outflows of Rs 1,07,357.62 crore in June.

Systematic Investment Plans (SIPs):SIP investments rose to Rs 21,262 crore in June, up from Rs 20,904 crore in May.

The number of new SIPs registered in June 2024 stood at 55.13 lakh, while the SIP AUM is highest ever at Rs 12.44 lakh crore for the month of June compared with Rs 11.53 lakh crore for May.

Equity Fund Inflows by Category:Sectoral/Thematic Funds received the highest inflow of Rs 22,351.69 crore, driven by NFOs collecting Rs 12,974 crore.

Multicap funds saw a 78% increase in inflows to Rs 4,708.57 crore, while large cap funds rose by 46% to Rs 970.49 crore.

5) Answer: D

Short Explanation:

The Securities and Exchange Board of India’s (SEBI) expert working committee on derivatives trading has set the bar higher for retail investors.

SEBI's Expert Working Committee:The committee, led by former RBI executive director G Padmanabhan, has been deliberating on the mechanisms to protect retail investors in the futures and options segment.

Futures and options (F&O) contracts Lot Size Increase:

Current Lot Size: ₹5 lakh.

Proposed Lot Size: ₹20-25 lakh.

Detailed Explanation:

The Securities and Exchange Board of India’s (SEBI) expert working committee on derivatives trading has set the bar higher for retail investors.

The proposals include increasing the lot sizes of futures and options (F&O) contracts, raising margins around expiry dates, and reducing the number of weekly options contracts.

The recommendations will be discussed by Sebi’s Secondary Market Advisory Committee (SMAC) on July 15, 2024.

SEBI's Expert Working Committee:The committee, led by former RBI executive director G Padmanabhan, has been deliberating on the mechanisms to protect retail investors in the futures and options segment.

Futures and options (F&O) contracts Lot Size Increase:

Current Lot Size: ₹5 lakh.

Proposed Lot Size: ₹20-25 lakh.

Margin Requirements: Increased margins around expiry dates.

Participation Trends:The share of young individual traders (ages 20-30) in equity F&O has significantly increased, especially in index options and stock options.

6) Answer: C

Short Explanation:

According to State Bank of India’s (SBI's) economic research department (ERD), the government needs to address the fault lines in the IBC (Insolvency and Bankruptcy Code, 2016) set-up to reduce the time taken for the corporate insolvency resolution process.

Recoveries through IBC in FY24 were only 32% of admitted claims, with financial creditors losing 68% of their claims.

The time taken to reach a resolution is 863 days, far exceeding the stated 330 days.

Detailed Explanation:

According to State Bank of India’s (SBI's) economic research department (ERD), the government needs to address the fault lines in the IBC (Insolvency and Bankruptcy Code, 2016) set-up to reduce the time taken for the corporate insolvency resolution process.

Recoveries through IBC in FY24 were only 32% of admitted claims, with financial creditors losing 68% of their claims.

The time taken to reach a resolution is 863 days, far exceeding the stated 330 days.

Factors Affecting Resolution:The increase in the time taken for resolution is attributed to:

Litigation

Dissenting creditors

Poor infrastructure

7) Answer: A

Short Explanation:

Paytm has secured approval from a government panel that oversees investments linked to China to invest ₹500 million ($6 million) in a key subsidiary, Paytm Payment Services.

Revenue Contribution:Paytm Payment Services accounted for a quarter of Paytm's consolidated revenue in the financial year ended March 2023.

Previous Compliance Issues:A separate unit, Paytm Payments Bank, was shut down earlier this year by the central bank due to persistent compliance issues, affecting Paytm's stock.

Detailed Explanation:

Paytm has secured approval from a government panel that oversees investments linked to China to invest ₹500 million ($6 million) in a key subsidiary, Paytm Payment Services.

Revenue Contribution:Paytm Payment Services accounted for a quarter of Paytm's consolidated revenue in the financial year ended March 2023.

Previous Compliance Issues:A separate unit, Paytm Payments Bank, was shut down earlier this year by the central bank due to persistent compliance issues, affecting Paytm's stock.

Stakeholder Concern:The government panel initially withheld approval due to concerns about the 9.88% stake in Paytm held by China's Ant Group.

Operational Challenges:Paytm had been waiting for the government's nod for about two years and was forbidden from taking on new customers since March 2023.

Future Steps:Once the approval is formalised, Paytm can seek a "payment aggregator" license from the Reserve Bank of India (RBI).

8) Answer: B

Short Explanation:

Muthoot Finance is the only Indian Non-Banking Financial Company (NBFC) selected for the Financial Action Task Force's (FATF) Mutual Evaluation Report 2023-24.

The Financial Action Task Force (FATF) is a global agency formed in 1989.

It develops policies to combat money laundering, terrorism financing, and other significant threats to the financial system.

Detailed Explanation:

Muthoot Finance is the only Indian Non-Banking Financial Company (NBFC) selected for the Financial Action Task Force's (FATF) Mutual Evaluation Report 2023-24.

The Financial Action Task Force (FATF) is a global agency formed in 1989.

It develops policies to combat money laundering, terrorism financing, and other significant threats to the financial system.

The FATF conducted an extensive evaluation on various parameters.

India's Achievement:India achieved an outstanding outcome in the FATF Mutual Evaluation conducted during 2023-24.

The Mutual Evaluation Report of India was adopted in the FATF plenary held in Singapore from June 26th to June 28th, 2024.

India was placed in the 'regular follow-up' category, a distinction shared by only four other G20 countries: Russia, France, Italy, and the United Kingdom (UK).

9) Answer: A

Short Explanation:

The Asian Development Bank (ADB) and the ENGIE group have signed a long-term local currency loan agreement to construct and operate a 400-megawatt solar photovoltaic power plant in Surendranagar District, Gujarat, India.

The plant aims to generate an average of 805 gigawatt-hours annually over the next 25 years, contributing significantly to India's renewable energy goals.

Detailed Explanation:

The Asian Development Bank (ADB) and the ENGIE group have signed a long-term local currency loan agreement to construct and operate a 400-megawatt solar photovoltaic power plant in Surendranagar District, Gujarat, India.

The plant aims to generate an average of 805 gigawatt-hours annually over the next 25 years, contributing significantly to India's renewable energy goals.

Environmental Impact:The project is expected to avoid nearly 662,441 tons of carbon dioxide emissions per year, supporting environmental sustainability efforts.

Both ADB and the Asian Infrastructure Investment Bank (AIIB) provided 7.3 billion Indian rupees each for the project financing.

Previous Collaboration:This project marks the second collaboration between ADB and ENGIE in India, following their financing of a 200 MW solar project in Gujarat in 2020.

10) Answer: B

Short Explanation:

The Indian Railways, Delhi Metro Rail Corporation (DMRC), and the Centre For Railway Information System (CRIS) have collaborated to launch the One India-One Ticket initiative aimed at simplifying travel for passengers.

This initiative will benefit both main railway line passengers and commuters in the Delhi/NCR area by integrating train and metro ticketing systems.

Integrated Ticket Booking:

Travelers can now book metro tickets from the IRCTC website or app.

A token with the Delhi Metro QR code will appear on the passenger’s online train ticket upon booking.

Detailed Explanation:

The Indian Railways, Delhi Metro Rail Corporation (DMRC), and the Centre For Railway Information System (CRIS) have collaborated to launch the One India-One Ticket initiative aimed at simplifying travel for passengers.

This initiative will benefit both main railway line passengers and commuters in the Delhi/NCR area by integrating train and metro ticketing systems.

Integrated Ticket Booking:

Travelers can now book metro tickets from the IRCTC website or app.

A token with the Delhi Metro QR code will appear on the passenger’s online train ticket upon booking.

Advance Booking and Validity:

According to DMRC, the QR code-based tickets for the Delhi metro can be booked up to 120 days in advance and will remain valid for the next four days.

Ticket Details:

The QR code token will be printed on the electronic slip and the electronic reservation slip of IRCTC.

Each QR code is specific to one passenger, ensuring individual ticketing.

Pilot and Launch:

The initiative marks the first time this collaboration has been adopted by CRIS, IRCTC, and DMRC.

The beta version of the application was launched on July 10.

IRCTC CMD Sanjay Kumar Jain and DMRC MD Vikas Kumar stated that after the beta version's success, the regular version will be launched soon.

The beta version enables mainline railway passengers to book DMRC QR code tickets on the IRCTC website and the Android version of the mobile application.

11) Answer: A

Short Explanation:

Paradip Port Authority (PPA) has achieved a historic milestone in its operational history, handling an unprecedented41.12 Million Metric Tons (MMT) of cargo within the first 100 days of the fiscal year 2024-25.

This remarkable performance marks a 4.78% growth compared to the 39.25 MMT achieved during the same period in the previous fiscal year 2023-24.

Detailed Explanation:

Paradip Port Authority (PPA) has achieved a historic milestone in its operational history, handling an unprecedented41.12 Million Metric Tons (MMT) of cargo within the first 100 days of the fiscal year 2024-25.

This remarkable performance marks a 4.78% growth compared to the 39.25 MMT achieved during the same period in the previous fiscal year 2023-24.

Record Achievement:

PPA has set a new record by handling 41.12 MMT of cargo in the initial 100 days of FY 2024-25.

This achievement reflects a 4.78% growth from the 39.25 MMT handled in the same timeframe in FY 2023-24.

Significance and Impact:

This significant accomplishment underscores PPA’s critical role in bolstering India’s maritime infrastructure.

The port’s performance highlights its commitment to enhancing operational efficiency and capacity.

Leadership and Vision:

Under the dynamic leadership and visionary guidance of Union Minister for Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, PPA has surpassed its previous benchmarks.

PPA Chairman, P.L. Haranadh, expressed deep gratitude to the Minister, attributing this monumental success to his unwavering support and strategic direction.

Commitment to Excellence:

This achievement showcases Paradip Port Authority’s ongoing commitment to setting new benchmarks in cargo handling.

PPA continues to expand its capabilities, improve its services, and support India’s maritime infrastructure.

The port’s efforts significantly contribute to the nation’s economic growth and development

12) Answer: B

Short Explanation:

Union Health Minister JP Nadda chaired the inaugural executive committee meeting of the National One Health Mission.

The mission aims to achieve integrated disease control and pandemic preparedness by institutionalizing the 'One Health' approach.

Dr. V K Paul, Member (Health) of NITI Aayog, and Principal Scientific Advisor Dr. Ajay Kumar Sood were also present at the meeting.

Detailed Explanation:

Union Health Minister JP Nadda chaired the inaugural executive committee meeting of the National One Health Mission.

The mission aims to achieve integrated disease control and pandemic preparedness by institutionalizing the 'One Health' approach.

The One Health approach focuses on the health of humans, animals, plants, and the environment holistically and sustainably.

The mission will leverage ongoing and planned programs across various ministries and departments to foster collaborations.

Dr. V K Paul, Member (Health) of NITI Aayog, and Principal Scientific Advisor Dr. Ajay Kumar Sood were also present at the meeting.

13) Answer: A

Short Explanation:

The Indian government is likely to set a target of Rs 24 trillion for agricultural credit by commercial, cooperative, and regional rural banks for the fiscal year 2024-25.

In the previous year, the credit flows to the priority sector reached Rs 24.84 trillion, surpassing the target of Rs 20 trillion.

Detailed Explanation:

The Indian government is likely to set a target of Rs 24 trillion for agricultural credit by commercial, cooperative, and regional rural banks for the fiscal year 2024-25.

In the previous year, the credit flows to the priority sector reached Rs 24.84 trillion, surpassing the target of Rs 20 trillion.

Sectoral Growth:

The Gross Value Added (GVA) for agriculture and allied activities grew at 1.4% in 2023-24, the slowest rate since 2018-19.

In contrast, the sectoral GVA grew by 4.7% in 2022-23.

The lower growth in 2023-24 was due to below-normal monsoon rainfall, which affected the output of several key crops.

Credit to Allied Sectors:

In 2023-24, Rs 2.72 trillion of agricultural credit went to allied sectors such as animal husbandry, including dairy, poultry, and fisheries.

Regional Disparities:

Southern States:

Five southern states (Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Kerala) received Rs 12.5 trillion of the total loans.

Their share of farm credit increased from 42.6% in 2017-18 to 50.5% in 2023-24.

These states account for only 17% of the gross cropped area.

Tamil Nadu received the highest amount at Rs 4.39 trillion (17.6% of the country’s total), followed by Andhra Pradesh at Rs 2.96 trillion.

Northern States:

Five northern states (Rajasthan, Punjab, Haryana, Jammu & Kashmir, and Himachal Pradesh) received Rs 3.74 trillion (15% of total credit flow) against a 20% share in the gross cropped area.

Eastern Region:

States like Bihar, Jharkhand, Odisha, and West Bengal received Rs 2.11 trillion (8.5% of total credit flow) against a 12% share in the cropped area.

North-Eastern States:

The eight northeastern states received agri-loans worth Rs 16,485 crore (0.66% of the country’s disbursement) against a 3.2% share in the cropped area.

14) Answer: B

Short Explanation:

India’s retail inflation, measured by the Consumer Price Index (CPI), likely rose to a four-month high of 4.9% in June 2024 due to an increase in vegetable prices amidst a delayed monsoon, according to a median poll of 18 economists.

The estimates ranged from 4.5% to 5.19%.

CPI Inflation Overview:

June 2024 CPI inflation is projected at 4.9%, a rise from 4.75% in May and 4.87% in June 2023.

The National Statistical Office (NSO) data indicates that at 4.9%, the overall index would see a 1.2% month-on-month increase, the fastest pace in 11 months.

Detailed Explanation:

India’s retail inflation, measured by the Consumer Price Index (CPI), likely rose to a four-month high of 4.9% in June 2024 due to an increase in vegetable prices amidst a delayed monsoon, according to a median poll of 18 economists.

The estimates ranged from 4.5% to 5.19%.

CPI Inflation Overview:

June 2024 CPI inflation is projected at 4.9%, a rise from 4.75% in May and 4.87% in June 2023.

The National Statistical Office (NSO) data indicates that at 4.9%, the overall index would see a 1.2% month-on-month increase, the fastest pace in 11 months.

Food Price Inflation:

The primary driver of the CPI rise is food inflation, which accounts for around 40% of the CPI.

Food inflation is expected to have increased to 9.25-9.35% in June from 8.69% in May.

Vegetable Price Surge:

Tomato prices saw a significant month-on-month increase of 29%.

Onion prices rose by 16%, and potato prices increased by 9% from May to June.

Milk Price Hike:

A hike in retail milk prices by major manufacturers likely pushed the milk inflation rate up slightly in June.

In May, the inflation rate for ‘milk and products’ was at 2.62%.

Core Inflation:

Core inflation (excluding food and energy prices) likely remained flat at 3.1%.

Some economists expect a slight increase to 3.2%.

If core inflation rose in June, it would mark the first rise in the inflation rate in 19 months.

15) Answer: A

Short Explanation:

US investment bank Morgan Stanley has projected that the Indian central government is likely to retain itsfiscal deficit target at 5.1% of GDP for FY25, consistent with the interim budget.

The Union Budget will be unveiled on July 23, 2024.

Fiscal Deficit Targets:

FY24 Target: The fiscal deficit target was set at 5.6% of GDP.

FY25 Projection: Morgan Stanley expects the fiscal deficit to remain at 5.1% of GDP.

FY26 Goal: The target is to reduce the fiscal deficit to 4.5% of GDP by FY26.

Detailed Explanation:

US investment bank Morgan Stanley has projected that the Indian central government is likely to retain itsfiscal deficit target at 5.1% of GDP for FY25, consistent with the interim budget.

The Union Budget will be unveiled on July 23, 2024.

Fiscal Deficit Targets:

FY24 Target: The fiscal deficit target was set at 5.6% of GDP.

FY25 Projection: Morgan Stanley expects the fiscal deficit to remain at 5.1% of GDP.

FY26 Goal: The target is to reduce the fiscal deficit to 4.5% of GDP by FY26.

Budget Themes:

Fiscal Prudence: Emphasis on maintaining fiscal discipline.

Capital Expenditure: Increased spending on infrastructure to create jobs.

Social Sector Spending: Targeted welfare programs to support vulnerable sections of society.

Fiscal Headroom:

RBI Surplus: A larger-than-expected transfer of surplus from the Reserve Bank of India (RBI) has improved the fiscal headroom.

16) Answer: C

Short Explanation:

Apple notified some iPhone users in India about a potential attack by Pegasus-like “mercenary spyware” aiming for remote control of their devices.

This marks the second notification sent to users in India and 98 other countries regarding similar threats.

Since 2021, Apple has issued these warnings to users in over 150 countries worldwide.

Detailed Explanation:

Apple notified some iPhone users in India about a potential attack by Pegasus-like “mercenary spyware” aiming for remote control of their devices.

This marks the second notification sent to users in India and 98 other countries regarding similar threats.

Global Outreach:

Since 2021, Apple has issued these warnings to users in over 150 countries worldwide.

Nature of the Threat:

The latest threat notification from Apple highlighted that such attacks are expensive, costing millions of dollars.

These sophisticated spyware attacks are targeted at a few individuals but are ongoing and have a global reach.

17) Answer: A

Short Explanation:

Paytm Payments Bank, an associate entity of One97 Communications (OCL), which operates the Paytm brand, has appointed Arun Kumar Bansal as managing director (MD) and chief executive officer (CEO).

Bansal resigned from IDBI Bank to join Paytm Payments Bank, effective before June 25.

Surinder Chawla, the former MD and CEO of Paytm Payments Bank, resigned for personal reasons in April and was due to retire on June 26.

Detailed Explanation:

Paytm Payments Bank, an associate entity of One97 Communications (OCL), which operates the Paytm brand, has appointed Arun Kumar Bansal as managing director (MD) and chief executive officer (CEO).

Bansal resigned from IDBI Bank to join Paytm Payments Bank, effective before June 25.

Surinder Chawla, the former MD and CEO of Paytm Payments Bank, resigned for personal reasons in April and was due to retire on June 26.

The new independent directors on Paytm Payments Bank’s board include:

Srinivasan Sridhar, former Chairman and MD of Central Bank of India.

Debendranath Sarangi, retired Indian Administrative Service (IAS) officer.

Ashok Kumar Garg, former Executive Director of Bank of Baroda.

Rajni Sekhri Sibal, retired IAS officer.

18) Answer: C

Short Explanation:

Masoud Pezeshkian, a reformist and former Health Minister of Iran, won the 14th presidential election.

He defeated his rival, hardliner Islamist ideology Saeed Jalili.

Voting Details:Pezeshkian received 16.3 million votes, accounting for 53.6% of the total votes.

Succession:Pezeshkian will succeed Mohammad Mokhber, who has been serving as the interim president following the death of Ebrahim Raisi

Detailed Explanation:

Masoud Pezeshkian, a reformist and former Health Minister of Iran, won the 14th presidential election.

He defeated his rival, hardliner Islamist ideology Saeed Jalili.

Voting Details:Pezeshkian received 16.3 million votes, accounting for 53.6% of the total votes.

Jalili received 13.5 million votes, accounting for 44.3% of the total votes.

The total number of votes in the runoff was 30 million.

Succession:Pezeshkian will succeed Mohammad Mokhber, who has been serving as the interim president following the death of Ebrahim Raisi.

Rescheduled Election:The 14th presidential election, initially set for 2025, was rescheduled due to the unexpected death of President Ebrahim Raisi in a helicopter crash on May 19, 2024

19) Answer: D

Short Explanation:

Heimir Hallgrimsson, the Icelandic coach, is the new manager for the Republic of Ireland men's national football
team.

Contenders: Other potential candidates included Lee Carsley, Neil Lennon, Slaven Bilic, Ole Gunnar Solskjaer, and Roy Keane.

World Cup History: He guided Iceland to their first-ever World Cup finals in Russia in 2018.

Detailed Explanation:

Heimir Hallgrimsson, the Icelandic coach, is the new manager for the Republic of Ireland men's national football team.

FAI Search: This appointment concludes the FAI's eight-month search for Stephen Kenny’s successor.

Contenders: Other potential candidates included Lee Carsley, Neil Lennon, Slaven Bilic, Ole Gunnar Solskjaer, and Roy Keane.

Euro 2016 Success: Hallgrimsson, alongside Lars Lagerbäck, led Iceland to the Euro 2016, where they famously defeated England.

World Cup History: He guided Iceland to their first-ever World Cup finals in Russia in 2018.

Jamaica Tenure: For the past two years, Hallgrimsson managed the Jamaican national team.

20) Answer: A

Short Explanation:

On July 12th, World Malala Day 2024 is celebrated and observed all over the world as an honouring event.

In honour of the young campaigner Malala Yousafzai, the UN has declared July 12th to be World Malala Day.

On July 12, 1997, Malala Yousafzai was born in Mingora, Pakistan.

Detailed Explanation:

On July 12th, World Malala Day 2024 is celebrated and observed all over the world as an honouring event.

In honour of the young campaigner Malala Yousafzai, the UN has declared July 12th to be World Malala Day.

On July 12, 1997, Malala Yousafzai was born in Mingora, Pakistan.

On her 16th birthday, the young lady travelled to New York and spoke at the United Nations.

In 2013, TIME Magazine declared Malala one of the world’s most influential people. A year later, Malala was named a Nobel Peace Prize winner. Along with this prestigious honor, Malala has received the United Nations Human Rights Prize and The Liberty Medal.

In 2017, Malala began her studies at Oxford. She currently resides in Birmingham and continues to fight for women’s empowerment and education.