Daily Current Affairs Quiz - 16th February 2024

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 16th February 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) The Reserve Bank of India (RBI) has directed major international payment providers Visa and which card to suspend card-based commercial transactions between small and large firms?

(a) Rupay

(b) American Express

(c) Mastercard

(d) Contactless

(e) PayZaap


2) Indian Overseas Bank celebrates its 88th anniversary with the opening of 88 new branches and
the introduction of which type of card and CASA variants?

(a) Rupay

(b) Visa

(c) Mastercard

(d) Contactless

(e) PayZaap


3)
The Small Industries Development Bank of India (SIDBI) has released the report on the impact evaluation of the Fund of Funds for Startups (FFS), an essential component of the startups known as?

(a) Prabhaav

(b) Pranaav

(c) Prabhaa

(d) Pradeeph

(e) Prajha


4)
The 'Indira Gandhi Prize for Best Debut Film of a Director' will be renamed 'Best Debut Film of a Director', and the prize amount will be increased to how many lakhs?

(a) Rs.2lakhs

(b) Rs.3lakhs

(c) Rs.4lakhs

(d) Rs.5lakhs

(e) Rs.1lakh


5)
FFS is a DPIIT flagship programme and a crucial component of the Startup India Action Plan, which was established in which year?

(a) 2014

(b) 2015

(c) 2016

(d) 2018

(e) 2017


6)
The Finance Standing Committee recommends 'Open Architecture' for insurance agents.Currently, the Insurance Act of which year restricts agents to working with only one life, non-life, and health insurance business?

(a) 1935

(b) 1936

(c) 1938

(d) 1937

(e) 1939


7) PM-SVANidhi enhanced street vendors' annual income by Rs 23,000. How much annual interest subsidy would be deposited into beneficiaries' bank accounts through Direct Benefit Transfer every quarter if they repay the loan on time?

(a) 5%

(b) 6%

(c) 7%

(d) 8%

(e) 6.5%


8) NITI Aayog introduces GROW, a project to transform India's wastelands through agroforestry. What is India's global ranking, and the way does it deal with concerns such as growing urbanization, damaged land, and unequal resources?

(a) 5th

(b) 4th

(c) 6th

(d) 7th

(e) 8th


9)
India's urban unemployment rate fell from 7.2% to what percentage between October-December 2022 and October-December 2023?

(a) 6.5%

(b) 6.3%

(c) 6.2%

(d) 6.4%

(e) 6.1%


10) The Ministry of Information and Broadcasting is organizing a two-day regional Community Radio Sammelan at Anna University, Chennai.  Bharat Ratna Shri L.K Advani opened the first Community Radio Station in which year?

(a) 2002

(b) 2003

(c) 2000

(d) 2001

(e) 2004


11)
Which state has designated 'Kaji Nemu' lemon as the official 'State Fruit' to promote local agriculture?

(a) Karnataka

(b) Sikkim

(c) Odisha

(d) Assam

(e) Bihar


12)
In December 2023, the National Coal Index (Provisional) has decreased by how much percentage?

(a) 4.25%

(b) 4.50%

(c) 4.15%

(d) 4.75%

(e) 4.55%


13) In January 2024, total imports are expected to reach USD 70.46 billion, representing a _______percentage increase from January 2023.

(a) 4.25%

(b) 4.50%

(c) 4.15%

(d) 4.75%

(e) 4.55%


14)
For the third year in a row, Reliance Industries (RIL) was the most valuable Indian company in 2023. Which of the following firm came in second?

(a) HDFC bank

(b) TCS

(c) Infosys

(d) ICICI bank

(e) L&T


15)
Which ministry oversees the Pradhan Mantri Janjatiya Vikas Mission (PMJVM) scheme?

(a) Minister for Defence

(b) Minister for Tribal Affairs

(c) Minister for Education

(d) Minister for Rural Development

(e) Minister for MSME


16)
CIAL has collaborated with BPCL to establish a green hydrogen plant at the airport. An agreement for a strategic collaboration with BPCL to establish a how many KW pilot project at the airport grounds?

(a) 1000kw

(b) 1100kw

(c) 1200kw

(d) 1500kw

(e) 500kw


17)
The Healthy Indian Project (THIP) has joined the World Health Organization's (WHO) Vaccine Safety Net. Currently, the VSN has 110 websites from 45 countries that provide vaccination safety information in how many languages?

(a) 42

(b) 43

(c) 44

(d) 45

(e) 46


18) Google's Lumiere AI model generates multimodal films with a realistic duration of how many seconds?

(a) 4

(b) 3

(c) 5

(d) 2

(e) 6


19)
The Dadasaheb Phalke Award has raised from Rs 10 lakh to how many lakhs?

(a) Rs.20lakhs

(b) Rs.15lakhs

(c) Rs.25lakhs

(d) Rs.30lakhs

(e) Rs.12lakhs


20) The Council of the Institute of Chartered Accountants of India (ICAI) announced that Ranjeet Kumar Agarwal has been elected President.Ranjeet Kumar Agarwal is the________ President of the ICAI.

(a) 70th

(b) 71st

(c) 72nd

(d) 75th

(e) 73rd


21)
The Ministry of Defence has reached a significant milestone, surpassing ₹1 lakh crore in orders on the Government e-Marketplace Portal. How many crores worth of transactions has the MoD awarded in the current fiscal year alone?

(a) Rs.42800crores

(b) Rs.44800crores

(c) Rs.45800crores

(d) Rs.46800crores

(e) Rs.40800crores


22)
C-DOT and the Indian Institute of Technology Roorkee have collaborated to create how many GHz fully integrated transmitter and receiver modules for 6G and future networks?

(a) 100GHz

(b) 120GHz

(c) 150GHz

(d) 140GHz

(e) 130GHz


23)
The ICAI Council manages its activities in conformity with the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. How many members does the Council have?

(a) 30

(b) 35

(c) 40

(d) 45

(e) 50


24)
Gulab Chand Kataria is the governor of which state?

(a) Karnataka

(b) Sikkim

(c) Odisha

(d) Assam

(e) Bihar


25)
The GROW project is consistent with national goals, aiming to rehabilitate 26 million hectares of damaged land by which year?

(a) 2028

(b) 2026

(c) 2030

(d) 2035

(e) 2040


Answers :

1) Answer: C

Short Explanation:

The Reserve Bank of India (RBI) has instructed major international payment players Visa and Mastercard to halt card-based commercial transactions conducted by both small and large businesses. Reason for Action: The directive from RBI arises from concerns related to compliance with Know Your Customer (KYC) regulations.

Detailed Explanation:

The Reserve Bank of India (RBI) has instructed major international payment players Visa and Mastercard to halt card-based commercial transactions conducted by both small and large businesses. Reason for Action: The directive from RBI arises from concerns related to compliance with Know Your Customer (KYC) regulations. Context of Regulatory Measures: This action comes in the wake of recent regulatory measures taken by RBI against Paytm Payments Bank. Concerns over KYC Norms: The RBI is motivated by worries about Visa and Mastercard's non-compliance with KYC norms, leading to the temporary halt of transactions at unauthorized business outlets. Communication with Visa and Mastercard: Visa has acknowledged receiving communication from RBI on February 8, 2024 which included broader industry inquiries about the role of Business Payment Solution Providers (BPSPs) in commercial payments. Mastercard's response to the directive is pending. Role of BPSPs: Business Payment Solution Providers (BPSPs) are regulated and licensed by the RBI under the PA-PG (Payment Aggregators - Payment Gateways) guidelines. Impact on Fintech Companies: Some fintech companies have also received directives from RBI to pause business payments made by commercial cards until further notice.  There are concerns that this suspension may affect various payments, including rental and tuition fee payments. Current Payment Methods for Businesses : Currently, fintech companies like Cred, Paytm and Nobrokerallow rent and tuition fee payments through commercial, credit and debit cards. It should be noted that companies mostly make their business payments through net banking/NEFT or RTGS for large transfers which are now 24x7.  Fintech players like Enkashand Paymate allow process payments made through commercial cards for business needs like paying vendors and suppliers.


2) Answer: A

Short Explanation:

The Indian Overseas Bank (IOB) has launched new products on the occasion of the Bank’s 88th Foundation Day, celebrated on February 10, 2024 in Chennai, Tamil Nadu (TN). Credit Card Variants: IOB launched three new credit card variants: RuPay Classic, RuPay Platinum, and RuPay Select, offering various reward points and benefits.  The premium variant, RuPay Select, includes personal accident coverage of up to ₹10 lakhs.

Detailed Explanation:

The Indian Overseas Bank (IOB) has launched new products on the occasion of the Bank’s 88th Foundation Day, celebrated on February 10, 2024 in Chennai, Tamil Nadu (TN). Credit Card Variants: IOB launched three new credit card variants: RuPay Classic, RuPay Platinum, and RuPay Select, offering various reward points and benefits.  The premium variant, RuPay Select, includes personal accident coverage of up to ₹10 lakhs. Savings and Current Account Variants: The bank introduced Freedom Savings and Current Account variants, offering customers freedom from charges and the obligation to maintain a minimum balance in exchange for a modest annual fee. These accounts also provide personal accident insurance coverage of ₹10 lakhs. Digital Document Execution (DDE): IOB announced the introduction of Digital Document Execution (DDE) to facilitate seamless online locker agreements. This facility enables the online execution of agreements through the Digital Document Execution platform by the National E-Governance Services Ltd (NeSL). Green Deposit Scheme: IOB has introduced the Green Deposit Scheme under Retail Term Deposits (less than ₹2 crore) to promote Green Finance EcoSystem India. The tenor of the deposit shall be 999 days with an interest rate of 6.85 per cent, 5 bps higher than the regular term deposit. w.e.f February 10, 2024.  Senior citizens (aged 60 years and above) will get an additional interest rate of 0.50 per cent and super senior citizens (aged 80 years and above) will get an additional interest rate of 0.75 per cent above the card rates.


3) Answer: A

Short Explanation:

The Small Industries Development Bank of India (SIDBI) has unveiled the report of the impact assessment of the Fund of Funds for Startups (FFS), a key component of the startups namely Prabhaav.The scheme has already catalyzed investments to the tune of ~4x of the amount drawn with ₹17,534 crore invested in 938 unique startups.

Detailed Explanation:

The Small Industries Development Bank of India (SIDBI) has unveiled the report of the impact assessment of the Fund of Funds for Startups (FFS), a key component of the startups namely Prabhaav. Shri S. Ramann, Chairman & Managing Director, SIDBI along with Shri S P Singh, Chief General Manager (CGM) Venture Finance, presented the report to Dr Vivek Joshi, Secretary, Dept. of Financial Services, Ministry of Finance, GoI, Shri Rajesh Kumar Singh, IAS, Secretary, DPIIT and Shri Sanjiv, IRS, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry. The third-party assessment of the scheme was undertaken by CRISIL, India’s premier analytics company and pioneer of AIF benchmarking in the country. As of November 30, 129 Alternative Investment Funds (AIFs) have been sanctioned out of FFS across different segments. The scheme has already catalyzed investments to the tune of ~4x of the amount drawn with ₹17,534 crore invested in 938 unique startups. While FFS largely focuses on early-stage funding in young companies, as many as 18 of its startups have already become unicorns. The scheme has also channelised investments in startups in emerging sectors such as deep tech, agri/agri solutions, health tech, financial services, and sustainability.  Implemented with emphasis on diversity & inclusiveness, after the launch of FFS, 129 startups beyond Tier 1 cities have received investments aggregating ₹1,590 crore. Another heartening outcome was the increasing support to women led startups as well as women led fund managers.


4) Answer: B

Short Explanation:

The committee recommended that it be clubbed with ‘Best Film on Social Issues and Best Film on Environment Conservation/Preservation’.  The award amount has been increased to Rs 2 lakh each to the director and producer. The Dadasaheb Phalke Award has increased from Rs 10 lakh to Rs 15 lakh.  the committee recommended that the ‘Indira Gandhi Award for Best Debut Film of a Director’ be renamed as ‘Best Debut Film of a Director’, and the award money be increased to Rs 3 lakh.

Detailed Explanation:

The ‘Indira Gandhi Award for Best Debut Film of a Director’ and the ‘Nargis Dutt Award for Best Feature Film on National Integration’, which are part of the National Film Awards, have been renamed on the recommendation of the Committee for Rationalisation of Film Awards. the committee recommended that the ‘Indira Gandhi Award for Best Debut Film of a Director’ be renamed as ‘Best Debut Film of a Director’, and the award money be increased to Rs 3 lakh. It also recommended that the ‘Nargis Dutt Award for Best Feature Film on National Integration’ be renamed as ‘Best Feature Film Promoting National, Social and Environmental Values’. This award carries a Rajat Kamal to the director and the producer with Rs 1.5 lakh each.  The committee recommended that it be clubbed with ‘Best Film on Social Issues and Best Film on Environment Conservation/Preservation’.  The award amount has been increased to Rs 2 lakh each to the director and producer. The Dadasaheb Phalke Award has increased from Rs 10 lakh to Rs 15 lakh. The rationalisation committee was headed by Neerja Sekhar, additional secretary in the Information and Broadcasting ministry.


5) Answer: C

FFS is a flagship programme of DPIIT (Department for Promotion of Industry and Internal Trade) and a key component of the Startup India Action Plan launched in 2016. It is managed by the Small Industries Development Bank of India (SIDBI). It has facilitated investments in startups, particularly in emerging sectors, and has promoted diversity and inclusiveness, supporting startups beyond Tier 1 cities and women-led startups.


6) Answer: C

Short Explanation:

The Standing Committee on Finance, chaired by BJP MP Jayant Sinha, has proposed the adoption of an 'open architecture' concept for insurance agents to enhance the outreach of insurance products and strengthen distribution infrastructure in the country. Current Limitations: Presently, the Insurance Act 1938 limits agents to working with only one life, one non-life, and one health insurance company. The proposed changes aim to overcome these restrictions, leading to increased insurance penetration, financial inclusion, and reduced distribution costs.

Detailed Explanation:

The Standing Committee on Finance, chaired by BJP MP Jayant Sinha, has proposed the adoption of an 'open architecture' concept for insurance agents to enhance the outreach of insurance products and strengthen distribution infrastructure in the country. Open Architecture Definition: Open architecture allows insurance agents to offer services from multiple insurance companies, aiming to expand the availability of insurance products and bolster distribution nationwide. Current Limitations: Presently, the Insurance Act 1938 limits agents to working with only one life, one non-life, and one health insurance company. The proposed changes aim to overcome these restrictions, leading to increased insurance penetration, financial inclusion, and reduced distribution costs. Recommendations Overview :Permitting composite licensing for companies to sell both life and non-life insurance products. Urging for a rationalization of the 18% GST rate on insurance, particularly for health and term insurance. Creation of a central portal named UDGAM for complaints and redressal, providing depositors access to information on their unclaimed deposits. IRDAI's Previous Action: In 2022, the insurance regulator IRDAI expanded open architecture for bancassurance by allowing a bank to distribute products from 9 insurers in each of the life, general, and health insurance segments, compared to the previous limit of 3 insurers.


7) Answer: C

Short Explanation:

PM SVANidhi was launched in 2020 to help street vendors resume their livelihood impacted by the Covid-19 lockdown, by offering them affordable working capital loans. To begin with, a beneficiary can avail `10,000 and, upon its repayment, `20,000. After repaying the second loan, a beneficiary is entitled to apply for a third loan of `50,000.

On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer every quarter.

Detailed Explanation:

According to a study, the first tranche of 10,000 provided under the PM-SVANidhi has increased the annual income of Rs. 23,460 street vendors. This study was carried out by the Centre for Analytical Finance of the Indian School of Business (ISB). PM SVANidhi was launched in 2020 to help street vendors resume their livelihoods impacted by the Covid-19 lockdown.  PM-SVANidhi portal shows that 60.65 lakh first-term loans, 16.95 lakh second-term loans and 2.43 lakh third-term loans have been disbursed. This study covered 5,141 vendors across 100 urban local bodies in 22 states.  PM SVANidhi was launched in 2020 to help street vendors resume their livelihood impacted by the Covid-19 lockdown, by offering them affordable working capital loans.  To begin with, a beneficiary can avail `10,000 and, upon its repayment, `20,000.  After repaying the second loan, a beneficiary is entitled to apply for a third loan of `50,000. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer every quarter.


8) Answer: D

Short Explanation:

The GROW initiative aligns with national commitments, aiming to restore 26 million hectares of degraded land by 2030 and create an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent. India, the seventh-largest country globally, faces issues like increased build-up areas, degraded land, and imbalanced resources. Approximately 16.96% of the Total Geographical Area (TGA) is a wasteland, requiring transformation for productive use. Geospatial technologies and GIS are employed to map and prioritize these wastelands for agroforestry interventions.

Detailed Explanation:

Greening and Restoration of Wasteland with Agroforestry (GROW) report and portal was launched by Prof Ramesh Chand, Member, NITI Aayog at NITI Aayog. This multi-institutional effort led by NITI Aayog utilized remote sensing and GIS to assess agroforestry suitability across all districts in India. Using thematic datasets, an Agroforestry Suitability Index (ASI) was developed for national-level prioritization.  The report provides state-wise and district-wise analysis, supporting government departments and industries for greening and restoration projects. The "Greening and Restoration of Wasteland with Agroforestry (GROW)-Suitability Mapping" portal Bhuvan https://bhuvan-app1.nrsc.gov.in/asi_portal/ allows universal access to state and district-level data.  The portal will be helpful in different programmes as the Government of India is working to promote agroforestry and sensitizing role of extension.  Currently, agroforestry covers 8.65% of India's total geographical area, totalling about 28.42 million hectares.  Current report underscores the potential benefits of converting underutilized areas, especially wastelands, for agroforestry.  The GROW initiative aligns with national commitments, aiming to restore 26 million hectares of degraded land by 2030 and create an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent. India, the seventh-largest country globally, faces issues like increased build-up areas, degraded land, and imbalanced resources. Approximately 16.96% of the Total Geographical Area (TGA) is wasteland, requiring transformation for productive use.

Geospatial technologies and GIS are employed to map and prioritize these wastelands for agroforestry interventions.


9) Answer: A

Short Explanation:

India recorded a decline in the unemployment rate in urban areas, dropping from 7.2% to 6.5% between October–December 2022 and October–December 2023 for individuals aged 15 years and above, the latest Periodic Labour Force Survey (PLFS) by the National Sample Survey Office (NSSO) shows. Considering the importance of the availability of labour force data at more frequent time intervals, the National Sample Survey Office (NSSO) launched the Periodic Labour Force Survey (PLFS) in April 2017.

Detailed Explanation:

India recorded a decline in the unemployment rate in urban areas, dropping from 7.2% to 6.5% between October–December 2022 and October–December 2023 for individuals aged 15 years and above, the latest Periodic Labour Force Survey (PLFS) by the National Sample Survey Office (NSSO) shows. Considering the importance of the availability of labour force data at more frequent time intervals, the National Sample Survey Office (NSSO) launched the Periodic Labour Force Survey (PLFS) in April 2017.  The objective of PLFS is primarily twofold to estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months for the urban areas only in the ‘Current Weekly Status’ (CWS). Twenty Quarterly Bulletins of PLFS corresponding to the quarter ending December 2018 to the quarter ending September 2023 have already been released. The present Quarterly Bulletin is the twenty-first in the series for the quarter October –December 2023. Labour Force Participation Rate (LFPR) in urban areas increased from 48.2% in October – December 2022 to 49.9% in October – December 2023 for persons of age 15 years in above.  While for male LFPR increased from 73.3% to 74.1% during this period, for female, LFPR increased from 22.3% to 25.0% during this period. Worker Population Ratio (WPR) in urban areas increased from 44.7% in October – December 2022 to 46.6% in October – December 2023 for persons of age 15 years in above. For male, it increased from 68.6% to 69.8% during this period and for female, it increased from 20.2% to 22.9% during this period.  Unemployment Rate (UR) in urban areas decreased from 7.2% in October – December 2022 to 6.5% in October – December 2023 for persons of age 15 years in above.  For male, UR decreased from 6.5% in October – December 2022 to 5.8% in October – December 2023,while for female UR decreased from 9.6% in October – December 2022 to 8.6% in October – December 2023.


10) Answer: E

Short Explanation:

The Ministry of Information and Broadcasting is organising a regional Community Radio Sammelan (South) at Anna University Chennai celebrating 20 years of Community Radio in India.  All the 117 Community Radio Stations of southern States/UT’s will be participating the event. The journey, of Community Radio in India, started in the year 2002, when the Government of India approved a Policy for the grant of licenses for setting up of Community Radio Stations. As a result, the first Community Radio Station was inaugurated by Bharat Ratna Shri. L.K Advani on 1st February 2004.

Detailed Explanation:

The Ministry of Information and Broadcasting is organising a regional Community Radio Sammelan (South) at Anna University Chennai celebrating 20 years of Community Radio in India.  All the 117 Community Radio Stations of southern States/UT’s will be participating the event. The journey, of Community Radio in India, started in the year 2002, when the Government of India approved a Policy for the grant of licenses for setting up of Community Radio Stations. As a result, the first Community Radio Station was inaugurated by Bharat Ratna Shri. L.K Advani on 1st February 2004. In the last 9 years the sector has grown substantially and the number of Community Radio Stations has increased from 140 in 2014 to 481 in 2023.

Community Radio is an important third tier in Radio Broadcasting, distinct from Public Service Radio broadcasting and Commercial Radio.  Community Radio Stations (CRSs) are low-power Radio Stations, which are meant to be set-up and operated by local communities.  To ensure financial sustainability of Community Radio Stations and to ensure growth of the Community Radio Sector, the Government has carried out further amendments in the Policy Guidelines. Salient features of the Revised Policy Guidelines are as under An eligible organisation/ institution that operates in multiple districts shall be allowed to set up a maximum of six (6) CRS in different districts of operation, provided it fulfils certain conditions laid by the Ministry. The initial time period for the Grant of Permission Agreement (GOPA) increased to ten (10) years. Advertising time for CRSs is increased from 7 minutes per hour to 12 minutes per hour. Rate of Advertisement has been increased from Rs. 52 per 10 sec to Rs. 74 per10 sec for Community Radio Stations Validity of Letter of Intent issued to an Organisation has been fixed to one year.


11) Answer: D

Short Explanation:

The Assam government declared ‘Kaji Nemu’ (Citrus Lemon) as the state fruit. “The 'Kaji Nemu' has been approved as the state fruit of Assam during the Cabinet meeting underscoring the fruit’s cultural, traditional, and nutritional significance to the state and its people.

Detailed Explanation:

The Assam government declared ‘Kaji Nemu’ (Citrus Lemon) as the state fruit. “The 'Kaji Nemu' has been approved as the state fruit of Assam during the Cabinet meeting underscoring the fruit’s cultural, traditional, and nutritional significance to the state and its people. Culinary and Medicinal Properties: It has a strong and sour flavor, making it a preferred ingredient in a variety of dishes.  Additionally, it is known for its digestive and anti-inflammatory properties. Kaji Nemu is a highly prized fruit for its culinary and medicinal properties.  It has a distinctively strong and sour flavour, which adds a zesty flavour to a variety of dishes.  It is also known for its digestive and anti-inflammatory properties.  Traditional Assamese Cuisine: 'Kaji Nemu' holds a significant place in traditional Assamese cuisine, being used in various dishes to enhance flavor and impart its unique taste. Physical Characteristics : This lemon type is oval and has thin, smooth skin that is usually light green. Geographical Indication (GI) Label : Kaji Nemu has a Geographical Indication (GI) label and is well-known for its distinct scent and medicinal properties.


12) Answer: D

Short Explanation:

The National Coal Index (Provisional) has shown a significant decline of 4.75 % in December 2023 at 155.44 points compared to December 2022, where it was at 163.19 points.

Detailed Explanation:

The National Coal Index (Provisional) has shown a significant decline of 4.75 % in December 2023 at 155.44 points compared to December 2022, where it was at 163.19 pointsThis notable decrease indicates sufficient availability of coal in the market to meet the growing demands.  The National Coal Index (NCI) is a price index that combines coal prices from all sales channels, viz. Notified Prices, Auction Prices, and Import Prices.  It considers prices of coking and non-coking coal of various grades transacted in the regulated (power and fertilizer) and non-regulated sectors. Established with the base year as FY 2017-18, NCI serves as a reliable indicator of market dynamics, providing valuable insights into price fluctuations.


13) Answer: C

Short Explanation:

India’s overall exports (Merchandise and Services combined) in January 2024* are estimated to be USD 69.72 Billion, exhibiting a positive growth of 9.28 per cent over January 2023.  Overall imports in January 2024* is estimated to be USD 70.46 Billion, exhibiting a positive growth of 4.15 per cent over January 2023.

Detailed Explanation:

India’s overall exports (Merchandise and Services combined) in January 2024* are estimated to be USD 69.72 Billion, exhibiting a positive growth of 9.28 per cent over January 2023.  Overall imports in January 2024* is estimated to be USD 70.46 Billion, exhibiting a positive growth of 4.15 per cent over January 2023.  India’s overall exports (Merchandise and Services combined) in April-January 2023-24* are estimated to be USD 638.37 Billion, exhibiting a negative growth of (-) 0.19 per cent over April-January 2022-23.  Overall imports in April-January 2023-24* are estimated to be USD 708.79 Billion, exhibiting a negative growth of (-) 5.69 per cent over April-January 2022-23.

MERCHANDISE TRADE

  • Merchandise exports in January 2024 were USD 36.92 Billion, as compared to USD 35.80 Billion in January 2023.
  • Merchandise imports in January 2024 were USD 54.41 Billion, as compared to USD 52.83 Billion in January 2023.

SERVICES TRADE

  • The estimated value of services export for January 2024* is USD 32.80 Billion, as compared to USD 28.00 Billion in January 2023.
  • The estimated value of services import for January 2024* is USD 16.05 Billion as compared to USD 14.83 Billion in January 2023.


14) Answer: B

Short Explanation:

 With a market cap of Rs 15.6 trillion, Reliance Industries (RIL) topped the chart of the most valuable Indian companies in 2023, for the third year in a row, closely followed by Tata Consultancy Services (TCS). IT firm TCS came in second with a market cap of Rs12.4 trillion, while HDFC Bank was third in the pecking order with a market cap of Rs11.3 trillion.

Detailed Explanation:

 With a market cap of Rs 15.6 trillion, Reliance Industries (RIL) topped the chart of the most valuable Indian companies in 2023, for the third year in a row, closely followed by Tata Consultancy Services (TCS). IT firm TCS came in second with a market cap of Rs12.4 trillion, while HDFC Bank was third in the pecking order with a market cap of Rs11.3 trillion.  The combined value of the top 10 companies remained unchanged from the year-ago period at `73.3 trillion, which is equal to 28% of India’s GDP, according to a report by Burgundy Private, Axis Bank’s private banking business, and Hurun India. The list, a compilation of the 500 most valuable private companies in India, saw ICICI Bank in fourth position with a market cap of `6.47 trillion, followed by Infosys (`5.71 trillion) in fifth.  It is based on data from October 2022 to October 2023. The companies on the list have collectively created a value of `231 trillion and employ about 1.3% of the country’s workforce, while 52 companies in the list are less than a decade old.  Others in the top 10 are  Bharti Airtel, ITC, Larsen & Toubro, HCL Tech and Kotak Mahindra Bank Suzlon Energy, which registered a y-o-y value growth of 436%, dominates the list of fastest growing companies in the list, followed by Jindal Stainless and JSW Infrastructure. HDFC, which was in the seventh place in the previous year’s list, does not figure on the rankings this year owing to its merger with HDFC Bank. L&T, HCL Tech and Kotak Mahindra Bank replaced HDFC, Adani Total Gas and Adani Enterprises in the top 10. Serum Institute of India was adjudged as the most valuable unlisted company, followed by NSE and Megha Engineering and Infrastructure. Jio Financial Services, which demerged from RIL, was 28th.


15) Answer: B

Short Explanation:

During the event, a significant milestone was achieved with the signing of an MoU between the Tribal Co-operative Marketing Development Federation of India (TRIFED) and corporate powerhouse ITC, establishing a collaborative framework under the Pradhan Mantri Janjatiya Vikas Mission (PMJVM) scheme.

Detailed Explanation:

Union Minister for Tribal Affairs; Agriculture and Farmer Welfare, Shri Arjun Munda, presided over as the Chief Guest at the Business-to-Business (B2B) Meet organized by the Ministry of Tribal Affairs as part of the ongoing Aadi Mahotsav, in New DelhiDuring the event, a significant milestone was achieved with the signing of an MoU between the Tribal Co-operative Marketing Development Federation of India (TRIFED) and corporate powerhouse ITC, establishing a collaborative framework under the Pradhan Mantri Janjatiya Vikas Mission (PMJVM) scheme. This initiative aims to leverage the strengths of both entities to empower tribal farmers and suppliers, particularly in states where turmeric cultivation is prevalent, promising to uplift rural economies and improve livelihoods.


16) Answer: A

Short Explanation:

Ever since the installation of its first plant with a capacity of 12 MW, it has been augmenting its capabilities and now inked an MoU for a strategic collaboration with BPCL for setting up a 1,000 KW pilot project at the airport premises.

Detailed Explanation:

In a strategic move to strengthen its green energy initiatives, Cochin International Airport Ltd (CIAL) has tied up with BPCL to set up a green hydrogen plant in the airport premises.   The collaborative effort, combining technological prowess and infrastructure, will result in the world’s first green hydrogen plant and fuelling station located within an airport setting.  Green hydrogen, produced from water using renewable energy sources, is recognised as a future fuel and aligns with zero-carbon energy strategies.G. Krishnakumar, CMD, BPCL. CIAL, which is renowned for its effective deployment of green energy through the installation of big solar plants and hydel station, has a cumulative installed capacity of 50 MW producing two hundred thousand units of power a day.  Ever since the installation of its first plant with a capacity of 12 MW, it has been augmenting its capabilities and now inked an MoU for a strategic collaboration with BPCL for setting up a 1,000 KW pilot project at the airport premises. Under the agreement, BPCL will oversee the establishment of the integrated green hydrogen plant and fuelling station providing technology and managing the operations. CIAL will contribute suitable land, water and green energy resources.  The initial output of the plant will be utilised for powering vehicles within the airport.


17) Answer: B

Short Explanation:

The Healthy Indian Project (THIP) has been included as a member of the World Health Organization's (WHO) Vaccine Safety Net (VSN). Purpose of VSN: The Vaccine Safety Net (VSN) was established by WHO to serve as a global network of websites providing trustworthy and verified vaccine safety information. Network Size: Currently, the VSN comprises 110 websites from 45 countries, offering vaccine safety information in 43 languages.

Detailed Explanation:

The Healthy Indian Project (THIP) has been included as a member of the World Health Organization's (WHO) Vaccine Safety Net (VSN). Purpose of VSN: The Vaccine Safety Net (VSN) was established by WHO to serve as a global network of websites providing trustworthy and verified vaccine safety information. Network Size: Currently, the VSN comprises 110 websites from 45 countries, offering vaccine safety information in 43 languages. Role of GACVS: The Global Advisory Committee on Vaccine Safety (GACVS), established by WHO in 1999, plays a key role in the project.  It responds promptly, efficiently, and with scientific rigor to vaccine safety issues of global significance. Criteria for Good Information Practices: GACVS has developed three categories of criteria for good information practices, including credibility, content, and accessibility/design, which websites providing vaccine safety information should adhere to. Focus of THIP: The Healthy Indian Project (THIP) is a health information platform in India that offers credible and verified health information. It specifically focuses on providing verified vaccine safety information to the diverse population of the country.


18) Answer: C

Short Explanation:

Google has introduced its latest artificial intelligence (AI) model, Lumiere, a multimodal video generation tool capable of producing realistic 5-second-long videos. Lumiere is a text-to-video diffusion model designed for synthesising videos that portray realistic, diverse and coherent motion.

Detailed Explanation:

Google has introduced its latest artificial intelligence (AI) model, Lumiere, a multimodal video generation tool capable of producing realistic 5-second-long videos. Lumiere is a text-to-video diffusion model designed for synthesising videos that portray realistic, diverse and coherent motion. The model facilitates content creation tasks and video editing applications such as image-to-video, video in painting, and stylized video generation. Lumiere model uses a Space-Time u-Net (STUNet) architecture to generate videos.  Using this architectural design, the model processes all frames in a video at once instead of generating keyframes and then filling the missing frames using temporal super-resolution (TSR) models, which is a common approach for existing video generators. Lumiere generates the entire temporal duration of the video at once by deploying both spatial and temporal down- and up-sampling.  It essentially means the model first generates a full frame rate video in low resolution and later upscales the generated video using a spatial super-resolution (SSR) model to produce the final result.


19) Answer: B

Short Explanation:

The committee recommended that it be clubbed with ‘Best Film on Social Issues and Best Film on Environment Conservation/Preservation’.  The award amount has been increased to Rs 2 lakh each to the director and producer. The Dadasaheb Phalke Award has increased from Rs 10 lakh to Rs 15 lakh.  the committee recommended that the ‘Indira Gandhi Award for Best Debut Film of a Director’ be renamed as ‘Best Debut Film of a Director’, and the award money be increased to Rs 3 lakh.

Detailed Explanation:

The ‘Indira Gandhi Award for Best Debut Film of a Director’ and the ‘Nargis Dutt Award for Best Feature Film on National Integration’, which are part of the National Film Awards, have been renamed on the recommendation of the Committee for Rationalisation of Film Awards. the committee recommended that the ‘Indira Gandhi Award for Best Debut Film of a Director’ be renamed as ‘Best Debut Film of a Director’, and the award money be increased to Rs 3 lakh. It also recommended that the ‘Nargis Dutt Award for Best Feature Film on National Integration’ be renamed as ‘Best Feature Film Promoting National, Social and Environmental Values’. This award carries a Rajat Kamal to the director and the producer with Rs 1.5 lakh each.  The committee recommended that it be clubbed with ‘Best Film on Social Issues and Best Film on Environment Conservation/Preservation’.  The award amount has been increased to Rs 2 lakh each to the director and producer. The Dadasaheb Phalke Award has increased from Rs 10 lakh to Rs 15 lakh. The rationalisation committee was headed by Neerja Sekhar, additional secretary in the Information and Broadcasting ministry.


20) Answer: C

The chartered accountants' apex body Council of the Institute of Chartered Accountants of India (ICAI) announced that Ranjeet Kumar Agarwal and Charanjot Singh Nanda have been elected as President and Vice President of the institute, respectively. Both have been elected by the institute's central council for the 2024-25 term. Ranjeet Kumar Agarwal is the 72nd President of ICAI.  He previously served as Vice President during the 2023-24 term.

Charanjot Singh Nanda, the Vice President, has held various leadership positions within ICAI, including chairmanship of committees such as the Internal Audit Standards Board and the Financial Markets & Investors Protection.


21) Answer: C

Short Explanation:

The Ministry of Defence (MoD) has made an astounding accomplishment by surpassing the ₹1 Lakh Crore mark in terms of total order value transacted through the Government e-Marketplace (GeM) portal, also known as Gross Merchandise Value (GMV). Transactions worth approximately ₹45,800 Crore have been awarded by the MoD in the current financial year alone.

Detailed Explanation:

The Ministry of Defence (MoD) has made an astounding accomplishment by surpassing the ₹1 Lakh Crore mark in terms of total order value transacted through the Government e-Marketplace (GeM) portal, also known as Gross Merchandise Value (GMV). Transactions worth approximately ₹45,800 Crore have been awarded by the MoD in the current financial year alone. First Central Government Entity: The Ministry of Defence is the first central government entity to achieve this staggering figure, showcasing its strong commitment to optimizing public spending in the Defence sector. Social Inclusion: In alignment with GeM's core value of maximising social inclusion, 50.7% of the total orders, amounting to ₹60,593 Crore, have been awarded to Micro and Small Enterprises (MSEs) by MoD buyers, contributing to India's economic self-reliance. Early Adoption and Trust: MoD has been an early adopter of GeM since its inception. The immense trust placed in the portal by nearly 19,800 MoD buyers across the country, including remote areas like North-Eastern States, Leh-Ladakh, and various Island Territories, has enabled this remarkable achievement. Engagement of Defence PSUs: Engagement of Defence Public Sector Undertakings (PSUs) on the GeM platform has not only facilitated procurement but also sales, marking a significant shift in the procurement landscape. Cost-effectiveness and Efficiency: Initiatives like demand aggregation modules on GeM continue to deliver cost-effectiveness and efficiency in government transactions.  By pooling requirements for similar products across different organizations, GeM maximizes the benefits of large-volume procurement.


22) Answer: D

Short Explanation:

C-DOT (Centre for Development of Telematics), the leading Telecom R&D Centre of the Department of Telecommunications (DoT), Government of India, has partnered with the Indian Institute of Technology, Roorkee (IIT-R) to embark on a groundbreaking initiative.  The collaboration aims to develop a cutting-edge 140GHz Fully Integrated Transmitter & Receiver Module, poised to redefine the landscape of 6th Generation (6G) and beyond.

Detailed Explanation:

C-DOT (Centre for Development of Telematics), the leading Telecom R&D Centre of the Department of Telecommunications (DoT), Government of India, has partnered with the Indian Institute of Technology, Roorkee (IIT-R) to embark on a groundbreaking initiative. The collaboration aims to develop a cutting-edge 140GHz Fully Integrated Transmitter & Receiver Module, poised to redefine the landscape of 6th Generation (6G) and beyond.  The agreement, signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India, signifies a commitment to advancing telecommunication products and solutions for affordable broadband and mobile services in rural and remote areas.  The innovation lies in the generation, transmission, and antenna integration of Terahertz (THz) waves onto a single chip, resulting in reduced system size, weight, and power consumption.  This breakthrough makes it well-suited for integration into portable devices such as smartphones, laptops, wearables, and more.  The developed chip is expected to support data rates of up to several gigabits per second, facilitating high-speed data transfer within a chip or between chips.


23) Answer: C

About ICAI :Established : 1 July 1949. Headquarters : New Delhi, Delhi. The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India.  The Institute, functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India.  With over 8.5 lakh students and around 4 lakh members, ICAI is the largest professional accountancy body in the world, with a strong tradition of service to the nation. The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988.  The Council consists of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Ministry of Corporate Affairs, Ministry of Finance, Securities and Exchange Board of India and other stakeholders.


24) Answer: D

About Assam :

  • Governor : Gulab Chand Kataria
  • Chief Minister : Himanta Biswa Sarma
  • Capital: Guwahati
  • National Park: Kaziranga National Park, Manas National Park, Nameri National Park
  • Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife Sanctuary


25) Answer: C

The "Greening and Restoration of Wasteland with Agroforestry (GROW)-Suitability Mapping" portal Bhuvan https://bhuvan-app1.nrsc.gov.in/asi_portal/ allows universal access to state and district-level data.  The portal will be helpful in different programmes as the Government of India is working to promote agroforestry and sensitizing role of extension. Currently, agroforestry covers 8.65% of India's total geographical area, totalling about 28.42 million hectares.  Current report underscores the potential benefits of converting underutilized areas, especially wastelands, for agroforestry.  The GROW initiative aligns with national commitments, aiming to restore 26 million hectares of degraded land by 2030 and create an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent. India, the seventh-largest country globally, faces issues like increased build-up areas, degraded land, and imbalanced resources.

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