Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 27th & 28th October 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) Recently (Oct’24), Which bank's analysis shows that during the fiscal years 2013–14 and 2022–23, the income gap for those making up to Rs 5 lakh per year decreased by 74.2% overall?

(a) State bank of India

(b) Reserve bank of India

(c) HDFC bank

(d) ICICI bank

(e) Punjab National bank

2) The Reserve Bank of India (RBI) reports that for the week ending October 18, 2024, India's foreign exchange reserves decreased by how many billions of dollars to $688.267 billion?

(a) $2.163 billion

(b) $1.163 billion

(c) $3.153 billion

(d) $4.163 billion

(e) $2.153 billion

3) By growing their balance sheet size, branch network, and workforce, Indian banks bolstered their global footprint in 2023–2024. Which nation's Indian bank branches generated the largest fee income?

(a) USA

(b) UK

(c) Hong Kong

(d) Singapore

(e) UAE

4) Which bank has issued long-term infrastructure bonds to raise Rs 5,000 crore?

(a) Indian Overseas bank

(b) Canara bank

(c) Indian bank

(d) Punjab National bank

(e) Bank of Baroda

5) Which nation's Exchange Center LLC had its certificate of authorization (CoA) withdrawn by the Reserve Bank of India (RBI) for noncompliance with regulatory requirements?

(a) USA

(b) UK

(c) Hong Kong

(d) Singapore

(e) UAE

6) The Reserve Bank of India (RBI) took action against Navi Finserv and which company, prohibiting them from issuing and disbursing loans due to unreasonably high interest rates charged borrowers?

(a) Asirvad Microfinance

(b) Arohan Finance

(c) DMI Finance

(d) Arman Finance

(e) Coral finance

7) Which state has received approval for a USD 434.25 million (about Rs 3,600 crore) loan from the Asian Development Bank (ADB) to boost renewable energy capacity and enhance energy security?

(a) Bihar

(b) Assam

(c) Nagaland

(d) Odisha

(e) Rajasthan

8) How much crores were added to the banking system by the Reserve Bank of India (RBI) through an auction for Variable Rate Repo (VRR)?

(a) ₹25,000 crore

(b) ₹15,000 crore

(c) ₹35,000 crore

(d) ₹10,000 crore

(e) ₹20,000 crore

9) Which bank is introducing its first-ever debt-for-development exchange, which aims to help nations with cash flow issues by lowering debt payment expenses and rerouting money to projects with a development focus?

(a) ADB

(b) ASEAN

(c) World bank

(d) RBI

(e) SBI

10) How much money has Hyderabad-based Vishwa Samudra Engineering (VSE) obtained from Switzerland's Xport Finance to build, run, and maintain an urban ropeway in Varanasi?

(a) $40 million

(b) $10 million

(c) $20 million

(d) $30 million

(e) $50 million

11) Which IIT is hosting the Center for Generative AI, Srijan (सृजन), which IndiaAI and Meta have collaborated to launch?

(a) IIT Kanpur

(b) IIT Jodhpur

(c) IIT Mandi

(d) IIT Delhi

(e) IIT Bombay

12) According to a Magic Bus Foundation and Bain & Company analysis, which nation must employ 145 million women by 2047 in order to reach its target of having a $30 trillion economy?

(a) China

(b) India

(c) Denmark

(d) UAE

(e) Pakistan

13) Which Livestock Census iteration was introduced by Union Minister Rajiv Ranjan Singh,the census, which would cost Rs 200 crore and be fully supported by the national government, will take place between October 2024 and February 2025?

(a) 21

(b) 20

(c) 22

(d) 23

(e) 25

14) To improve disaster preparedness and empower rural populations, especially farmers, the Indian government has started a weather forecasting project at the Gram Panchayat level in New Delhi. How many crores has the government set aside for improving meteorological services under the Mission Mausam program?

(a) Rs.1000crore

(b) Rs.2000crore

(c) Rs.1500crore

(d) Rs.2500crore

(e) Rs.3000crore

15) Which rating agency has raised Vedanta Resources Ltd.'s (VRL) bond ratings in recognition of the company's successful fundraising efforts?

(a) CRISIL

(b) Moody’s

(c) Brickwork

(d) SMREA

(e) ICRA

16) Recently (Oct’24) the NTPC Ltd plans to raise thermal power generating capacity by how many gigawatts (GW) by fiscal year 2026-27, keeping with the government's aim to satisfy growing energy demand?

(a) 13.6 GW

(b) 11.6 GW

(c) 12.6 GW

(d) 14.6 GW

(e) 15.6 GW

17) The government has increased the maximum for Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh under a new category, 'Tarun Plus', to help aspiring entrepreneurs and improve the nation's entrepreneurial environment. What percentage of public sector banks' non-performing assets (NPA) from Mudra loans dropped in FY24?

(a) 3.4%

(b) 2.4%

(c) 3.3%

(d) 3.5%

(e) 3.6%

18) Who was named the regular Managing Director (MD) of the National Agriculture Cooperative Marketing Federation of India Limited (NAFED) for a five-year term by the Appointments Committee of the Cabinet (ACC)?

(a) Anil Agarwal

(b) Deepak Agarwal

(c) Mukund Chauhan

(d) Rithish Kumar

(e) Sunil Kumar

19) Which nation will host the greatest naval defense trade expo in the world, Euronaval 2024, from November 4–7, 2024?

(a) France

(b) Singapore

(c) Maldives

(d) Indonesia

(e) Malaysia

20) A recently created telescope prototype that may be used to investigate gravitational waves in space was unveiled by the US National Aeronautics and Space Administration (NASA). What's thename of the telescope?

(a) NISA

(b) LISA

(c) VISA

(d) EISA

(e) TISA

Answers :

1) Answer: A

Short Explanation:

A report from the State Bank of India (SBI) indicates a cumulative 74.2% decline in income disparity for individuals earning up to Rs 5 lakh annually between fiscal years 2013-14 and 2022-23.

Regional Tax Filing Trends:States like Maharashtra, Delhi, Gujarat, and Karnataka are nearing saturation in Income Tax Return (ITR) filings, leading to a decline in their share of the overall tax file base.

Uttar Pradesh has emerged as the leader in increasing its share of the income tax file base, followed by Bihar, Andhra Pradesh, Punjab, and Rajasthan.

Detailed Explanation:

A report from the State Bank of India (SBI) indicates a cumulative 74.2% decline in income disparity for individuals earning up to Rs 5 lakh annually between fiscal years 2013-14 and 2022-23.

The report analyzed income disparity curves for assessment years (AY) 2014-15 and 2023-24, indicating a rightward shift in the income distribution curve.

Impact on Lower Income Groups:The share of people earning up to Rs 3.5 lakh in income disparity declined from 31.8% in FY14 to 12.8% in FY21, reflecting a 19% increase in their income share relative to their population.

The lower income group (earning less than Rs 5.5 lakh) has shown positive growth in income for all years over the last decade, except during the COVID-19 pandemic in AY20.

Regional Tax Filing Trends:States like Maharashtra, Delhi, Gujarat, and Karnataka are nearing saturation in Income Tax Return (ITR) filings, leading to a decline in their share of the overall tax file base.

Uttar Pradesh has emerged as the leader in increasing its share of the income tax file base, followed by Bihar, Andhra Pradesh, Punjab, and Rajasthan.

2) Answer: A

Short Explanation:

According to the Reserve Bank of India (RBI), India's foreign exchange reserves fell by $2.163 billion to $688.267 billion for the week ending October 18, 2024.

Gold Reserves: India’s gold reserves increased by $1.786 million, bringing them to $67.444 billion during the reporting week.

Detailed Explanation:

According to the Reserve Bank of India (RBI), India's foreign exchange reserves fell by $2.163 billion to $688.267 billion for the week ending October 18, 2024.

Earlier Reductions: In the week before that, reserves decreased by $3.709 billion to $701.176 billion.

All-Time High: At the end of September 2023, reserves reached an all-time high of $704.885 billion.

Foreign Currency Assets: The major component of the reserves, foreign currency assets, decreased by $3.865 billion to $598.236 billion for the reporting week.

Impact of Exchange Rates: The valuation of foreign currency assets is influenced by the appreciation or depreciation of currencies like the euro, pound, and yen against the US dollar.

Gold Reserves: India’s gold reserves increased by $1.786 million, bringing them to $67.444 billion during the reporting week.

3) Answer: B

Short Explanation:

In 2023-24, Indian banks increased their overseas presence by expanding both their balance sheet size and the number of branches and employees.

Increase in Overseas Staffing: Employee strength grew by 8.2% in overseas branches and 1.7% in subsidiaries.

Top Fee-Income Generating Locations: The highest fee income was from Indian bank branches in the UK, followed by the UAE, Singapore, and Hong Kong.

Detailed Explanation:

In 2023-24, Indian banks increased their overseas presence by expanding both their balance sheet size and the number of branches and employees.

Increase in Overseas Staffing: Employee strength grew by 8.2% in overseas branches and 1.7% in subsidiaries.

For foreign banks in India, the number of branches and employees rose by 0.6% and 1.4%, respectively.

Overseas branches: 72% increase in interest income and 87.5% in expenses.

Foreign banks in India: 27.1% increase in interest income and 47.7% in expenses.

Main Sources of Fee Income:For overseas branches: Fee income primarily came from credit services, trading (derivatives, stocks, securities, forex), and trade finance.

For foreign banks in India: Key sources included trading (derivatives, stocks, forex), payment services, and trade finance.

Top Fee-Income Generating Locations: The highest fee income was from Indian bank branches in the UK, followed by the UAE, Singapore, and Hong Kong.

4) Answer: C

Short Explanation:

Chennai-based public sector lender Indian Bank has raised Rs 5,000 crore through the issuance of long-term infrastructure bonds.

The bond issuance was highly successful, attracting bids amounting to ₹15,925 crore, which is 3.19 times the total issue size.

Detailed Explanation:

Chennai-based public sector lender Indian Bank has raised Rs 5,000 crore through the issuance of long-term infrastructure bonds.

The bond issuance was highly successful, attracting bids amounting to ₹15,925 crore, which is 3.19 times the total issue size.

Bidding Details: A total of 90 bids were received for the bond issuance, which had a base issue size of ₹2,000 crore and a greenshoe option of ₹3,000 crore.

Coupon Rate: The bonds were accepted at a coupon rate of 7.12% per annum.

Purpose of Fundraising: The raised funds will be used to support credit growth and refinance existing infrastructure projects.

Regulatory Exemptions: The funds obtained through these bonds are exempt from the statutory liquidity ratio (SLR) and cash reserve ratio (CRR) requirements.

5) Answer: E

Short Explanation:

The Reserve Bank of India (RBI) revoked the certificate of authorization (CoA) of UAE Exchange Centre LLC (UAEEC) for failing to comply with regulatory requirements.

UAEEC was authorized as a cross-border inbound money transfer operator (customer-to-customer) as an 'Overseas Principal.'

Detailed Explanation:

The Reserve Bank of India (RBI) revoked the certificate of authorization (CoA) of UAE Exchange Centre LLC (UAEEC) for failing to comply with regulatory requirements.

UAEEC was authorized as a cross-border inbound money transfer operator (customer-to-customer) as an 'Overseas Principal.'

Following the revocation of the CoA, UAE Exchange Centre LLC is prohibited from conducting any transactions related to cross-border inbound money transfers.

The UAE Exchange Centre is registered in Dubai, United Arab Emirates.

The RBI emphasised that the action was taken due to non-compliance with the established regulatory framework.

6) Answer: A

Short Explanation:

The Reserve Bank of India (RBI) took action against Navi Finserv and Asirvad Microfinance, barring them from sanctioning and disbursing loans due to excessively high interest rates charged to borrowers.

Detailed Explanation:

The Reserve Bank of India (RBI) took action against Navi Finserv and Asirvad Microfinance, barring them from sanctioning and disbursing loans due to excessively high interest rates charged to borrowers.

Following the RBI's action, CRISIL placed Asirvad's long-term ratings on "rating watch with developing implications" and Navi's ratings on "watch negative."

Navi Finserv, co-founded by Sachin Bansal, offering home and personal loans.

Concerns Over Pricing Policies: The RBI's actions were based on concerns regarding the companies' pricing policies, specifically their weighted average lending rate (WALR) and excessive interest spreads over their cost of funds.

7) Answer: B

Short Explanation:

The Asian Development Bank (ADB) has approved a USD 434.25 million (about Rs 3,600 crore) loan to increase renewable energy capacity and improve energy security in Assam.

The project aims to increase renewable energy capacity, enhance energy security, and reduce dependence on fossil fuels in Assam.

Renewable Energy Capacity: The initiative will help Assam develop a renewable energy roadmap to meet its solar energy target of 3,000 megawatts (MW) by 2030.

Detailed Explanation:

The Asian Development Bank (ADB) has approved a USD 434.25 million (about Rs 3,600 crore) loan to increase renewable energy capacity and improve energy security in Assam.

The project aims to increase renewable energy capacity, enhance energy security, and reduce dependence on fossil fuels in Assam.

Renewable Energy Capacity: The initiative will help Assam develop a renewable energy roadmap to meet its solar energy target of 3,000 megawatts (MW) by 2030.

Project Details: The Assam Solar Project includes the construction of a 500 MW grid-connected solar photovoltaic (PV) facility in the Karbi Anglong district.

Energy Storage: The project will support the development of a grid-connected battery energy storage system to ensure grid stability and manage peak power demand.

Public-Private Partnership (PPP): ADB will enhance Assam's PPP framework to attract private sector investment in renewable energy and build capacity for managing renewable energy PPP projects.

Additional Capacity: An additional 250 MW solar PV facility will be developed through a PPP agreement in the Karbi Anglong district.

8) Answer: A

Short Explanation:

The Reserve Bank of India (RBI) injected ₹25,000 crore into the banking system through a Variable Rate Repo (VRR) auction.

This was the first operation of its kind since September 24, aiming to stabilize funding costs for banks amid increasing cash withdrawals related to festivals and foreign capital outflows.

Detailed Explanation:

The Reserve Bank of India (RBI) injected ₹25,000 crore into the banking system through a Variable Rate Repo (VRR) auction.

This was the first operation of its kind since September 24, aiming to stabilize funding costs for banks amid increasing cash withdrawals related to festivals and foreign capital outflows.

This shift indicates the RBI's intention to provide more tolerable liquidity conditions for banks.

Response to Market Demand:The auction attracted bids worth ₹48,700 crore from banks, indicating a high demand for liquidity despite a headline liquidity surplus.

Impact of Foreign Portfolio Investment (FPI):India experienced a record outflow of $9.6 billion (approximately ₹80,954 crore) from foreign equity markets in October.

This outflow put pressure on the Indian rupee, which weakened past the 84/$1 mark.

Foreign Exchange Reserves:India's foreign exchange reserves decreased by $2.163 billion to $688.26 billion in the week ending October 18.

9) Answer: C

Short Explanation:

The World Bank is launching its first-ever debt-for-development swap, intended to assist countries facing liquidity challenges by reducing debt servicing costs and redirecting funds towards development-focused projects.

Detailed Explanation:

The World Bank is launching its first-ever debt-for-development swap, intended to assist countries facing liquidity challenges by reducing debt servicing costs and redirecting funds towards development-focused projects.

Debt-for-Nature Swaps Trend: Debt swaps have recently gained popularity, especially debt-for-nature swaps, where debt savings are channelled into environmental projects.

This approach generates savings by replacing high-cost bonds or loans with cheaper financing, typically supported by development banks.

World Bank’s Role: Unlike other banks, this marks the World Bank’s first foray into such swaps. Its role involves:

Facilitating cheaper financing via guarantees.

Monitoring fund usage to ensure compliance with intended development goals.

10) Answer: A

Short Explanation:

Vishwa Samudra Engineering (VSE), a Hyderabad-based firm, has secured $40 million (over ₹322 crore) in funding from Switzerland's Xport Finance to construct, operate, and maintain an urban ropeway in Varanasi, Prime Minister Narendra Modi's constituency.

Detailed Explanation:

Vishwa Samudra Engineering (VSE), a Hyderabad-based firm, has secured $40 million (over ₹322 crore) in funding from Switzerland's Xport Finance to construct, operate, and maintain an urban ropeway in Varanasi, Prime Minister Narendra Modi's constituency.

This funding will support the ambitious project to enhance urban mobility in the city.

The National Highways and Logistics Management Limited (NHLML), a subsidiary of the National Highways Authority of India (NHAI), has formed a 60:40 joint venture with VSE for the ropeway project.

NHLML will cover 60% of the estimated project cost of ₹807 crore, while VSE will manage the remaining 40%.

The project was initially set to be completed by August 2025, but Executive Director Shivdutt Das mentioned that it might be finished ahead of schedule, with a new target of early next year.

Das expressed confidence, stating, "At the current pace of work, we should complete it before time."

11) Answer: B

Short Explanation:

IndiaAI and Meta have partnered to launch the Center for Generative AI, Srijan (सृजन) at IIT Jodhpur.

Additionally, they have introduced the "YuvAi Initiative for Skilling and Capacity Building," in collaboration with the All India Council for Technical Education (AICTE), to promote open-source AI development in India.

Detailed Explanation:

IndiaAI and Meta have partnered to launch the Center for Generative AI, Srijan (सृजन) at IIT Jodhpur.

Additionally, they have introduced the "YuvAi Initiative for Skilling and Capacity Building," in collaboration with the All India Council for Technical Education (AICTE), to promote open-source AI development in India.

This collaboration aims to advance research, skill development, and fostering innovation in AI to support India's vision of tech sovereignty.

Meta, in collaboration with MeitY and AICTE, launched the YuvAi Initiative to bridge the AI talent gap in India.

The program will train 100,000 students and young developers aged 18-30 to use open-source large language models (LLMs) to address real-world challenges across sectors like healthcare, education, agriculture, and financial inclusion.

12) Answer: B

Short Explanation:

India needs 400 million women in its workforce by 2047 to achieve a $30 trillion economy.

A report by Magic Bus India Foundation and Bain & Company reveals that India needs to integrate 145 million women into the workforce by 2047 to meet its goal of becoming a $30 trillion economy.

Detailed Explanation:

India needs 400 million women in its workforce by 2047 to achieve a $30 trillion economy.

A report by Magic Bus India Foundation and Bain & Company reveals that India needs to integrate 145 million women into the workforce by 2047 to meet its goal of becoming a $30 trillion economy.

The country is projected to add only 110 million women, reaching 255 million female workers by 2047, leaving a gap of 145 million women.

Current Female Labour Force Participation Rate (FLFPR) stands at 35-40%, but it must nearly double to 70% by 2047 to meet the economic goal.

Women's workforce contribution is expected to be 45% (or $14 trillion) of India's $30 trillion GDP target by 2047.

13) Answer: A

Short Explanation:

21st Livestock Census: Launched by Union Minister Rajiv Ranjan Singh, the census will be conducted from October 2024 to February 2025 at a cost of Rs 200 crore, funded entirely by the central government.

The census will capture data on 219 indigenous breeds across 16 species, including cattle, buffalo, yak, sheep, goat, and poultry birds.

Detailed Explanation:

21st Livestock Census: Launched by Union Minister Rajiv Ranjan Singh, the census will be conducted from October 2024 to February 2025 at a cost of Rs 200 crore, funded entirely by the central government.

The census will capture data on 219 indigenous breeds across 16 species, including cattle, buffalo, yak, sheep, goat, and poultry birds.

Over 1 lakh field officials, primarily veterinarians and para-veterinarians, will be involved, covering 30 crore households across all states and Union Territories.

Mobile technology will be used for data collection to improve accuracy and efficiency.

This comprehensive survey has been conducted every five years since 1919 and serves as the backbone for policy formulation in the animal husbandry sector.

Singh also launched a USD 25 million 'Pandemic Fund Project' to strengthen animal health security in India, aimed at pandemic preparedness and response.

14) Answer: B

Short Explanation:

The Indian government has launched a Weather Forecasting initiative at the Gram Panchayat level in New Delhi, aimed at enhancing disaster preparedness and empowering rural communities, particularly farmers.

The government has allocated ₹2000 crore under the Mission Mausam program to enhance meteorological services.

Detailed Explanation:

The Indian government has launched a Weather Forecasting initiative at the Gram Panchayat level in New Delhi, aimed at enhancing disaster preparedness and empowering rural communities, particularly farmers.

This initiative is a collaborative effort between the Ministry of Panchayati Raj, Ministry of Earth Sciences, and the India Meteorological Department (IMD).

The initiative aims to provide accurate weather updates to farmers and villagers, helping them plan agricultural activities and prepare for weather-related risks.

Forecasts will be delivered through platforms such as e-GramSwaraj, the Meri Panchayat app, and Gram Manchitra.

Over the last decade, weather forecasting accuracy has improved by 40% due to advancements in space technology.

The government has allocated ₹2000 crore under the Mission Mausam program to enhance meteorological services.

The program will provide a five-day weather forecast and hourly updates, empowering Panchayati Raj Institutions (PRIs) to disseminate timely information.

A Training Workshop was organized for over 200 participants, including elected PRI representatives and state officials, to enhance their understanding of weather forecasting tools.

15) Answer: B

Short Explanation:

Moody's Ratings has upgraded the ratings on bonds of Vedanta Resources Ltd (VRL), acknowledging the company’s successful efforts to access funding.

The rating agency raised Vedanta's corporate family rating to B3 from Caa1 and upgraded the rating on senior unsecured bonds issued by VRL and its subsidiary Vedanta Resources Finance II Plc to Caa1 from Caa2. A 'stable' outlook has been maintained.

Detailed Explanation:

Moody's Ratings has upgraded the ratings on bonds of Vedanta Resources Ltd (VRL), acknowledging the company’s successful efforts to access funding.

The rating agency raised Vedanta's corporate family rating to B3 from Caa1 and upgraded the rating on senior unsecured bonds issued by VRL and its subsidiary Vedanta Resources Finance II Plc to Caa1 from Caa2. A 'stable' outlook has been maintained.

Vedanta’s corporate family rating was upgraded to B3 from Caa1.

Senior unsecured bonds ratings for VRL and Vedanta Resources Finance II Plc were raised to Caa1 from Caa2.

Moody's maintained a 'stable' outlook on these ratings.

The upgrade reflects VRL’s demonstrated access to funding, as evidenced by the company successfully tapping into $300 million through its 10.875% senior notes due in September 2029.

16) Answer: A

Short Explanation:

State-owned NTPC Ltd is set to enhance its thermal power generation capacity by an additional 13.6 gigawatts (GW) by the financial year 2026-27, aligning with the government’s strategy to increase thermal power generation to meet rising energy demands.

Detailed Explanation:

State-owned NTPC Ltd is set to enhance its thermal power generation capacity by an additional 13.6 gigawatts (GW) by the financial year 2026-27, aligning with the government’s strategy to increase thermal power generation to meet rising energy demands.

The company also has ambitious plans for its renewable energy segment.

NTPC aims to commission 2.7 GW of thermal capacity by the end of the current financial year and an additional 1.46 GW in FY26.

The planned 13.6 GW expansion is in addition to the 11.16 GW of thermal capacity already under construction.

To ensure greater fuel security, NTPC is increasing its coal mining capacity, with an estimated coal production increase from 40 million metric tonnes in FY25 to 67 million metric tonnes by FY29.

Through its subsidiary NTPC Green Energy Ltd, NTPC targets to add 3 GW of renewable capacity by the end of the current financial year, with plans for an additional 5 GW by FY26 and 8 GW by FY27.

17) Answer: A

Short Explanation:

The government has raised the limit on Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh under a new category, ‘Tarun Plus’, to further support budding entrepreneurs and enhance the nation’s entrepreneurial ecosystem.

Loans under PMMY are distributed in three categories:

Shishu – Up to Rs 50,000

Kishore – Between Rs 50,000 and Rs 5 lakh

Tarun – Up to Rs 10 lakh

Decrease in NPAs: The non-performing assets (NPA) of public sector banks under Mudra loans have decreased to 3.4% in FY24, compared to 4.77% in 2020-21 and 4.89% in 2019-20. This is favorable compared to the gross NPA of scheduled commercial banks in India, which stood at 2.8% as of March 2024.

Detailed Explanation:

The government has raised the limit on Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) from Rs 10 lakh to Rs 20 lakh under a new category, ‘Tarun Plus’, to further support budding entrepreneurs and enhance the nation’s entrepreneurial ecosystem.

Announcement and Implementation: Finance Minister Nirmala Sitharaman announced this in her July 2024 Union Budget. The new limit will be available specifically for those who have availed and repaid earlier loans under the ‘Tarun’ category.

Scheme Overview: PMMY was launched on April 8, 2015 by Prime Minister Narendra Modi to provide collateral-free micro-credit to non-corporate, non-farm micro-entrepreneurs for income-generating activities. Loans under PMMY are distributed in three categories:

Shishu – Up to Rs 50,000

Kishore – Between Rs 50,000 and Rs 5 lakh

Tarun – Up to Rs 10 lakh

Loan Disbursement: In 2023-24, 66.8 million loans were sanctioned, amounting to Rs 5.4 trillion. Since the scheme’s inception, over 487.8 million loans worth Rs 29.79 trillion have been issued.

Decrease in NPAs: The non-performing assets (NPA) of public sector banks under Mudra loans have decreased to 3.4% in FY24, compared to 4.77% in 2020-21 and 4.89% in 2019-20. This is favorable compared to the gross NPA of scheduled commercial banks in India, which stood at 2.8% as of March 2024.

18) Answer: B

Short Explanation:

The Appointments Committee of the Cabinet (ACC) appointed Deepak Agarwal as the regular Managing Director (MD) of the National Agriculture Cooperative Marketing Federation of India Limited (NAFED) for a term of five years.

Detailed Explanation:

The Appointments Committee of the Cabinet (ACC) appointed Deepak Agarwal as the regular Managing Director (MD) of the National Agriculture Cooperative Marketing Federation of India Limited (NAFED) for a term of five years.

Deepak Agarwal is a 2000-batch Indian Administrative Service (IAS) officer from the Uttar Pradesh cadre.

The appointment of Deepak Agarwal comes shortly after the temporary assignment of the MD position to Muktanand Agrawal, a Joint Secretary in the Ministry of Cooperation, following the departure of the previous MD, Ritesh Chauhan.

The ACC, chaired by Prime Minister Narendra Modi, is responsible for appointing senior officials to key positions within the Central government, public sector undertakings, and autonomous bodies.

Pankaj Kumar Bansal, Additional Secretary in the Ministry of Cooperation, was appointed MD of NAFED on a temporary basis for three months or until a regular appointment was made.

19) Answer: A

Short Explanation:

Euronaval 2024 is the world's largest naval defence trade show, scheduled to take place in Paris, France from November 4-7, 2024.

International Participation:India is among 104 countries invited to attend the exhibition.

Detailed Explanation:

Euronaval 2024 is the world's largest naval defence trade show, scheduled to take place in Paris, France from November 4-7, 2024.

International Participation:India is among 104 countries invited to attend the exhibition.

Focus Areas:The exhibition will showcase innovative solutions aimed at:

Protecting naval forces and maritime infrastructure against air and surface drones.

Developing next-generation anti-ship missiles and missile systems designed to target multiple hostile drones.

Themes:The event will emphasize themes such as innovation, sovereignty, and international cooperation within the naval industry.

20) Answer: B

Short Explanation:

The US National Aeronautics and Space Administration (NASA) unveiled a newly developed prototype of a telescope that can be used to study gravitational waves in outer space.

The telescope is part of a collaborative mission between NASA and the European Space Agency (ESA) known as the Laser Interferometer Space Antenna (LISA).

Scheduled Launch: The LISA mission is expected to be launched by 2030, aiming to enhance our understanding of gravitational waves and their sources.

Detailed Explanation:

The US National Aeronautics and Space Administration (NASA) unveiled a newly developed prototype of a telescope that can be used to study gravitational waves in outer space.

The telescope is part of a collaborative mission between NASA and the European Space Agency (ESA) known as the Laser Interferometer Space Antenna (LISA).

The primary goal of the LISA mission is to detect and study gravitational waves through the deployment of three spacecraft arranged in a triangular formation.

Triangular Configuration: Each side of the triangle will measure 1.6 million miles (approximately 2.57 million kilometres), with each spacecraft spaced about 2.5 million kilometres apart.

Spacecraft Design: Each spacecraft will be equipped with two telescopes that will detect infrared laser beams transmitted from the other spacecraft.

Heliocentric Orbit: The spacecraft will operate in a heliocentric orbit located around 50 million kilometres from Earth.

Scheduled Launch: The LISA mission is expected to be launched by 2030, aiming to enhance our understanding of gravitational waves and their sources.