Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 28th December 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) How many members has the Reserve Bank of India (RBI) formed a committee to create a framework for the ethical and responsible application of artificial intelligence (AI) in the financial industry?

(a) 9

(b) 8

(c) 5

(d) 6

(e) 7

2) According to a Reserve Bank of India report, banks' asset quality improved, with the gross non-performing assets (GNPA) ratio dropping to what percentage at the end of March 2024. However, the report also highlights concerns regarding high attrition, dark patterns, and top-up loans?

(a) 2.5%

(b) 2.6%

(c) 2.7%

(d) 2.8%

(e) 2.9%

3) Which bank intends to sell non-performing retail microloans totaling ₹1,573 crore?

(a) HDFC bank

(b) IndusInd bank

(c) ICICI bank

(d) Axis bank

(e) South Indian bank

4) How much paise did the Indian Rupee lose against the US dollar to close at a new all-time low of 85.27, its third straight session of weakness?

(a) 10paise

(b) 11paise

(c) 12paise

(d) 15paise

(e) 18paise

5) Recently, the Reserve Bank of India (RBI)-backed Trade Receivables Electronic Discounting System (TReDS) has grown significantly in 2024, with bills financed totaling more than how many lakh crore?

(a) ₹2 lakh crore

(b) ₹1 lakh crore

(c) ₹1.5 lakh crore

(d) ₹2.5 lakh crore

(e) ₹3 lakh crore

6) For failing to comply with disclosure standards, EbixCash Limited and its promoter company, Ebix Inc., were fined how many lakhs by the Securities and Exchange Board of India (SEBI)?

(a) Rs.2lakhs

(b) Rs.3lakhs

(c) Rs.4lakhs

(d) Rs.5lakhs

(e) Rs.6lakhs

7) How many crores was the company's valuation when the Securities and Exchange Board of India (SEBI) suspended trading in Bharat Global Developers?

(a) Rs 12,000 crore

(b) Rs 11,000 crore

(c) Rs 13,000 crore

(d) Rs 10,000 crore

(e) Rs 15,000 crore

8) How many new auto insurance products does Bajaj Allianz General Insurance offer to policyholders in order to improve value and customization?

(a) 1

(b) 2

(c) 3

(d) 4

(e) 5

9) Which bank has agreed to a five-year extension with Tata Consultancy Services (TCS) to continue implementing financial inclusion solutions throughout India?

(a) Bank of India

(b) Bank of Baroda

(c) Indian bank

(d) Punjab & National bank

(e) Canara bank

10) Which organization oversees cryptocurrencies used as securities and Initial Coin Offerings (ICOs)?

(a) RBI

(b) SEBI

(c) IRDAI

(d) PFDRA

(e) NABARD

11) According to the report, Interarch Building Products, a provider of pre-engineered building solutions, has entered the competition to win the construction contract for the __________ GWh lithium battery manufacturing plant in Gujarat, which is owned by the Tata Group.

(a) 20

(b) 10

(c) 15

(d) 25

(e) 30

12) Which edition of Shaastra, India's largest student-run techno-entertainment festival, will take place at IIT Madras from January 3 to 7, 2025?

(a) 24th

(b) 25th

(c) 26th

(d) 27th

(e) 28th

13) How many exceptional children received the Pradhan Mantri Rashtriya Bal Puraskar from President Droupadi Murmu in recognition of their exceptional accomplishments in a variety of fields, including social service, science, innovation, sports, art, and culture?

(a) 12

(b) 15

(c) 17

(d) 16

(e) 18

14) Who initiated the Dr. Ambedkar Samman Yojana to assist Dalit students who are seeking higher education overseas?

(a) Arvind Kejriwal

(b) Risheek Kumar

(c) Saurav Kumar

(d) Nithish Kumar

(e) Pinaryi Vijayan

15) Recently, the IndiGo's CSR initiative IndiGoReach collaborated with the Airports Authority of India (AAI) and AAS Foundation, Indore to launch the Zero Waste Airport Project at Indore Airport. The project follows the 4R strategy. Which of the following "R" is not included?

(a) Reduce

(b) Reuse

(c) Recycle

(d) Revolve

(e) Recover

16) Recently(Dec’24), Prime Minister Modi pays tribute to Pandit Madan Mohan Malaviya on his 162nd birth anniversary. In honor of Mahamana Malaviya's legacy, PM Modi will launch the first series of the 'Collected Works of Pandit Madan Mohan Malaviya' on December 25, 2023, at Vigyan Bhawan. How many volumes and 4,000 pages does this collection include?

(a) 11

(b) 12

(c) 13

(d) 14

(e) 15

17) The Supreme Court clarifies the judiciary's role in banking matters. The judgment emphasized that which section of the Act requires banks to charge interest rates that are beyond judicial scrutiny?

(a) Section 21A

(b) Section 20A

(c) Section 22A

(d) Section 23A

(e) Section 25A

18) Which country has extended the 30-day visa exemption for Indian nationals until December 31, 2026, as part of efforts to strengthen bilateral ties and boost tourism?

(a) Singapore

(b) UAE

(c) Malaysia

(d) France

(e) Australia

19) India's finished steel trade faces a record deficit in fiscal year 25 (April-November). Which country is the leading importer, accounting for one-third of all shipments and seeing volumes rise 23% year on year?

(a) Indonesia

(b) Vietnam

(c) China

(d) South Korea

(e) Japan

20) Recently(Dec’24), Sandip Kumar Mishra has been named the new director of the National Testing Agency (NTA) by the Union government. For how many years have Shivani, Amit Kumar, and Archana Shukla served as NTA's joint directors?

(a) 2

(b) 3

(c) 4

(d) 5

(e) 1

21) The India-Sri Lanka Bilateral Naval Exercise SLINEX 24 took place in Visakhapatnam from December 17–20, 2024. Which year did SLINEX exercises begin?

(a) 2002

(b) 2003

(c) 2004

(d) 2005

(e) 2008

22) What percentage of MobiKwik was sold by Peak XV Partners for ₹82 crore in an open market transaction?

(a) 1.2%

(b) 1.3%

(c) 1.4%

(d) 1.5%

(e) 1.8%

23) Which city will host the Harish Sharma 3x3 Basketball Championship 2024 on December 28 and 29?

(a) Bengaluru

(b) New Delhi

(c) Kolkata

(d) Mumbai

(e) Chennai

24) During the Boxing Day Test between India and Australia, Andy Pycroft, the former captain of which nation, achieved a noteworthy milestone by officiating his 100th men's Test match?

(a) Australia

(b) Zimbabwe

(c) New Zealand

(d) Norway

(e) Hong Kong

25) The 22-year-old shooter Vijayveer Sidhu, who placed ninth at the Olympics in Paris, won the ______________ National Shooting Championship's rapid-fire pistol competition at the Dr. Karni Singh Range in Tughlakabad.

(a) 65th

(b) 67th

(c) 68th

(d) 69th

(e) 66th

26) When was the annual International Day of Epidemic Preparedness observed?

(a) December 25

(b) December 26

(c) December 27

(d) December 28

(e) December 29

27) Where is the headquarters of MobiKwik located?

(a) Sikkim

(b) Haryana

(c) Gujarat

(d) Maharashtra

(e) Karnataka

28) The Pradhan Mantri Rashtriya Bal Puraskar award is given to Indian citizens living in India who are between the ages of five and eighteen. How many lakhs is the monetary prize, along with a medal and certificate, given to each recipient?

(a) Rs.50000

(b) Rs.150000

(c) Rs.100000

(d) Rs.200000

(e) Rs.75000

29) To establish a framework for the responsible application of artificial intelligence in finance, the Reserve Bank of India appoints an eight-member committee. Which IIT's professor of computer science and engineering, Pushpak Bhattacharyya, will serve as the committee's leader?

(a) IIT Madras

(b) IIT Bombay

(c) IIT Delhi

(d) IIT Kanpur

(e) IIT Roorkee

30) Which bank does Sumant Kathpalia currently hold the positions of MD and CEO?

(a) HDFC bank

(b) IndusInd bank

(c) ICICI bank

(d) Axis bank

(e) South Indian bank

Answers :

1) Answer: B

Short Explanation:

The Reserve Bank of India (RBI) has established an 8-member committee to develop a framework for the responsible and ethical enablement of artificial intelligence (AI) in the financial sector.

Detailed Explanation:

The Reserve Bank of India (RBI) has established an 8-member committee to develop a framework for the responsible and ethical enablement of artificial intelligence (AI) in the financial sector.

The committee is tasked with creating the FREE-AI framework (Responsible and Ethical Enablement of AI in Financial Services).

Committee Leadership and Members:The committee will be led by Professor Pushpak Bhattacharyya from IIT Bombay (Department of Computer Science and Engineering).

Assess the current adoption of AI in financial services both globally and within India.

2) Answer: C

Short Explanation:

High employee attrition rates (around 25%) in private sector banks (PVBs) and small finance banks (SFBs) pose operational risks, such as disruption in customer service and loss of institutional knowledge.

Asset Quality and Profitability:RBI reports that the asset quality of banks improved, with the gross non-performing assets (GNPA) ratio falling to 2.7% at the end of March 2024 (the lowest in 13 years).

Banks’ profitability rose for the sixth consecutive year in 2023-24, with a return on assets (RoA) of 1.4% and a return on equity (RoE) of 14.6%.

Detailed Explanation:

High employee attrition rates (around 25%) in private sector banks (PVBs) and small finance banks (SFBs) pose operational risks, such as disruption in customer service and loss of institutional knowledge.

RBI’s Focus on Employee Retention:RBI considers employee retention a strategic imperative for banks, not just a human resource issue.

Dark Patterns in Digital Banking:RBI highlights concerns over "dark patterns" (misleading design interfaces) used in digital banking that trick users into certain behaviors.

It mentions the Central Consumer Protection Authority's (CCPA) guidelines and the RBI's ongoing investigation into these practices.

Top-Up Loans and Financial Risks:RBI warns about top-up loans, which have grown significantly.

The RBI is assessing the need for additional regulatory interventions.

Asset Quality and Profitability:RBI reports that the asset quality of banks improved, with the gross non-performing assets (GNPA) ratio falling to 2.7% at the end of March 2024 (the lowest in 13 years).

Banks’ profitability rose for the sixth consecutive year in 2023-24, with a return on assets (RoA) of 1.4% and a return on equity (RoE) of 14.6%.

3) Answer: B

Short Explanation:

IndusInd Bank plans to offload ₹1,573 crore worth of non-performing microfinance retail loans.

Auction Details:The bank is seeking to auction these distressed assets through a public bidding process.

Detailed Explanation:

IndusInd Bank plans to offload ₹1,573 crore worth of non-performing microfinance retail loans.

Auction Details:The bank is seeking to auction these distressed assets through a public bidding process.

The auction will be conducted on a 100% cash basis, meaning the buyers need to pay the full amount upfront.

The reserve price set by the bank for the assets is ₹85 crore, which translates to a recovery rate of 5.04%.

Loan Characteristics:These microfinance loans are unsecured and do not have any collateral backing them.

Deadline for Participation:Entities interested in acquiring the loans must submit an Expression of Interest (EOI) by December 30.

4) Answer: C

Short Explanation:

The Indian Rupee weakened for the third consecutive session, falling 12 paise to close at a new all-time low of 85.27 against the U.S. dollar.

The previous session's closing was at 85.15, and the rupee had also fallen by 9 paise the day before.

Detailed Explanation:

The Indian Rupee weakened for the third consecutive session, falling 12 paise to close at a new all-time low of 85.27 against the U.S. dollar.

The previous session's closing was at 85.15, and the rupee had also fallen by 9 paise the day before.

Factors Contributing to Weakness:The strong U.S. dollar and rising crude oil prices contributed to the rupee’s decline.

Increased month-end and year-end dollar demand from importers, combined with concerns over a potential aggressive import tariff from the U.S., pushed up the value of the U.S. dollar.

Surge in U.S. Treasury yields and FII outflows were also cited as contributing factors.

Intraday Movements:The rupee opened at 85.23 and touched an intraday low of 85.28 before closing at 85.27.

Forex Market Data:The dollar index, which measures the U.S. dollar's strength against a basket of six currencies, remained elevated at 107.93, despite a 0.09% decline.

5) Answer: A

Short Explanation:

The Trade Receivables Electronic Discounting System (TReDS), backed by the Reserve Bank of India (RBI), has seen significant growth in 2024, with bills financed crossing ₹2 lakh crore.

Detailed Explanation:

The Trade Receivables Electronic Discounting System (TReDS), backed by the Reserve Bank of India (RBI), has seen significant growth in 2024, with bills financed crossing ₹2 lakh crore.

TReDS helps shorten the working capital cycle for small businesses by facilitating faster financing of receivables.

As of October 2024, the TReDS platform financed nearly 100,000 bills with a combined value of ₹2.08 lakh crore.

Over 100,000 MSME sellers are registered on four licensed TReDS platforms: Invoicemart (Axis Bank), M1xchange, Receivables Exchange of India (RXIL), and C2FO Factoring Solutions.

6) Answer: E

Short Explanation:

Securities and Exchange Board of India (SEBI) imposed a ₹6 lakh fine on EbixCash Limited and its promoter entity Ebix Inc for non-compliance with disclosure norms.

Detailed Explanation:

Securities and Exchange Board of India (SEBI) imposed a ₹6 lakh fine on EbixCash Limited and its promoter entity Ebix Inc for non-compliance with disclosure norms.

The fine was levied due to violations related to the company’s proposed Initial Public Offering (IPO).

EbixCash filed its Draft Red Herring Prospectus (DRHP) with SEBI in March 2022 but withdrew the filing in December 2023.

The fine followed an investigation into the violation of SEBI’s Issue of Capital and Disclosure Requirements (ICDR) norms.

SEBI imposed a fine of ₹3 lakh each on EbixCash Ltd and Ebix Inc for failing to adhere to the disclosure norms.

7) Answer: A

Short Explanation:

The Securities and Exchange Board of India (SEBI) suspended trading in Bharat Global Developers, a company valued at over Rs 12,000 crore.

Detailed Explanation:

The Securities and Exchange Board of India (SEBI) suspended trading in Bharat Global Developers, a company valued at over Rs 12,000 crore.

The suspension followed lapses in the company's financial disclosures and fraudulent preferential allotment practices.

Interim Order Details:SEBI issued an interim order to suspend trading and also debarred 17 individuals, including the Managing Director (MD), CEO, and directors of the company.

These individuals are prohibited from buying, selling, or dealing in securities until further orders.

8) Answer: B

Short Explanation:

Bajaj Allianz General Insurance, a leading non-life player, has introduced two motor insurance add-on covers: Eco Assure—Repair Protection and Named Driver Cover.

Detailed Explanation:

Bajaj Allianz General Insurance, a leading non-life player, has introduced two motor insurance add-on covers: Eco Assure—Repair Protection and Named Driver Cover.

These covers aim to enhance value and customisation for policyholders.

The Eco Assure - Repair Protection add-on enables cost-effective repairs without compulsory deductibles.

This add-on is available for private cars up to 12 years old under the Own Damage section of the policy.

The Named Driver Cover is tailored for individuals owning one or multiple cars driven primarily by specific individuals.

9) Answer: B

Short Explanation:

Tata Consultancy Services (TCS) has extended its partnership with Bank of Baroda (BoB) for five more years to continue its financial inclusion solution implementation across India.

The solution will facilitate essential banking services such as account opening, Immediate Payment Service (IMPS) and National Electronic Funds Transfers (NEFT), and Aadhaar and debit card-based transactions.

Detailed Explanation:

Tata Consultancy Services (TCS) has extended its partnership with Bank of Baroda (BoB) for five more years to continue its financial inclusion solution implementation across India.

The deal aims to enhance banking services for India's unbanked populations, promoting financial inclusion.

TCS will deploy its Financial Inclusion Gateway Solution, which includes both hardware and software for the bank’s data centers.

The solution will facilitate essential banking services such as account opening, Immediate Payment Service (IMPS) and National Electronic Funds Transfers (NEFT), and Aadhaar and debit card-based transactions.

The solution will streamline enrollment in government schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana.

This extension marks the fourth renewal of TCS's partnership with Bank of Baroda, which began in 2010.

10) Answer: B

Short Explanation:

The Reserve Bank of India (RBI) is closely monitoring the rise in cryptocurrency values, particularly with the recent surge in Bitcoin, and its evolving stance will be observed following a change in leadership at the central bank.

The Securities and Exchange Board of India (Sebi) regulates cryptocurrencies that function as securities and Initial Coin Offerings (ICOs).

Detailed Explanation:

The Reserve Bank of India (RBI) is closely monitoring the rise in cryptocurrency values, particularly with the recent surge in Bitcoin, and its evolving stance will be observed following a change in leadership at the central bank.

The Securities and Exchange Board of India (Sebi) regulates cryptocurrencies that function as securities and Initial Coin Offerings (ICOs).

It also has provisions for licensing crypto products linked to the equity markets.

RBI focuses on regulating crypto assets that are backed by fiat currencies, indicating its oversight role in the financial sector's crypto transactions.

The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) supervise insurance and pension-linked virtual assets, respectively.

11) Answer: A

Short Explanation:

Pre-engineered building solutions provider Interarch Building Products has entered the race to secure the construction contract for Tata Group’s 20 GWh lithium battery manufacturing plant in Gujarat.

This ambitious project, spearheaded by Tata Group’s Agratas Energy Storage Solutions, is set to occupy a sprawling 22.50 lakh square meter site in Sanand.

Detailed Explanation:

Pre-engineered building solutions provider Interarch Building Products has entered the race to secure the construction contract for Tata Group’s 20 GWh lithium battery manufacturing plant in Gujarat.

This ambitious project, spearheaded by Tata Group’s Agratas Energy Storage Solutions, is set to occupy a sprawling 22.50 lakh square meter site in Sanand.

Project Overview

Client: Tata Group (Agratas Energy Storage Solutions).

Capacity: 20 GWh lithium battery manufacturing plant.

Location: Sanand, Gujarat.

Previous Projects:

Completed India’s first lithium-ion battery plant (12 GWh) for Exide.

Ongoing work on Micron’s semiconductor assembly plant in Gujarat, led by Tata Projects.

Major order for Tata Electronics’ ₹27,000 crore microchip assembly and testing plant in Assam.

Executing projects for Reliance Solar and Amara Raja’s lithium battery plant.

12) Answer: C

Short Explanation:

The 26th edition of Shaastra, India’s largest student-run techno-entertainment festival, will take place from January 3-7, 2025, at IIT Madras.

Drawing over 60,000 participants, the event promises a mix of innovation, sustainability, and entertainment under the theme "Fractal Frontiers", inspired by nature’s intricate patterns.

Themes: ‘Future Cities’ and ‘Smart Manufacturing’ added to the Shaastra Summit and Research Conference.

Detailed Explanation:

The 26th edition of Shaastra, India’s largest student-run techno-entertainment festival, will take place from January 3-7, 2025, at IIT Madras.

Drawing over 60,000 participants, the event promises a mix of innovation, sustainability, and entertainment under the theme "Fractal Frontiers", inspired by nature’s intricate patterns.

Themes: ‘Future Cities’ and ‘Smart Manufacturing’ added to the Shaastra Summit and Research Conference.

Environmental Commitment:

Replacing plastic and vinyl with reusable cloth-based materials.

Aligned with UN SDGs and India’s Net Zero by 2070 goal.

Social Campaign: "Uzhavu"

Aiming to empower Indian farmers with AI and technology:

Key Initiatives:

Tech-enabled soil testing and precision farming in Chengalpattu.

Crop cycle recommendations using geolocation and weather data.

Distribution of pollinator pods to address declining bee populations.

Collaborators: National Agro Foundation, Tamil Nadu Climate Change Mission, and IIT Madras's School of Sustainability.

13) Answer: C

Short Explanation:

President Droupadi Murmu presented the Pradhan Mantri Rashtriya Bal Puraskar to 17 exceptional children for their outstanding achievements in various fields such as art, culture, sports, innovation, bravery, science, and social service.

Detailed Explanation:

President Droupadi Murmu presented the Pradhan Mantri Rashtriya Bal Puraskar to 17 exceptional children for their outstanding achievements in various fields such as art, culture, sports, innovation, bravery, science, and social service.

Award Categories & Key Highlights

The award is presented across seven categories:

Art and Culture

Bravery

Innovation

Science and Technology

Social Work

Sports

Environment

Veer Bal Diwas: The award ceremony was held on Veer Bal Diwas to honor the bravery of Guru Gobind Singh’s sons, reinforcing the nation’s commitment to courage and patriotism.

Prizes: Each recipient received a medal, certificate, and a cash prize of ₹1 lakh.

Future Vision: President Murmu shared her vision for the future, stating that in 2047, these awardees would become the builders of a developed India.

About the Award

Established: 1996 by the Ministry of Women and Child Development.

Eligibility: The award is for children between the ages of 5 and 18 who are Indian citizens residing in India.

Awardees: Each recipient receives a medal, certificate, and a cash prize of ₹1 lakh.

14) Answer: A

Short Explanation:

The Aam Aadmi Party (AAP), led by Arvind Kejriwal, has launched the Dr. Ambedkar Samman Yojana, aimed at supporting Dalit students pursuing higher education abroad.

This initiative, announced just before the Delhi Assembly elections, seeks to attract Dalit voters by aligning the program with the legacy of Dr. B.R. Ambedkar, emphasizing educational empowerment for marginalized communities.

Detailed Explanation:

The Aam Aadmi Party (AAP), led by Arvind Kejriwal, has launched the Dr. Ambedkar Samman Yojana, aimed at supporting Dalit students pursuing higher education abroad.

This initiative, announced just before the Delhi Assembly elections, seeks to attract Dalit voters by aligning the program with the legacy of Dr. B.R. Ambedkar, emphasizing educational empowerment for marginalized communities.

The scheme covers all educational costs for Dalit students admitted to prestigious international universities, including:

Tuition fees

Travel costs

Other essential expenditures

The goal is to eliminate financial barriers, enabling Dalit students to achieve their educational aspirations without monetary constraints.

The initiative links directly to Dr. Ambedkar’s vision of empowering marginalized communities through education.

AAP emphasizes its commitment to Dalit empowerment as part of Dr. Ambedkar's broader educational vision.

15) Answer: D

Short Explanation:

IndiGo, through its CSR initiativeIndiGoReach, has launched the Zero Waste Airport Project at Indore Airport in collaboration with the Airports Authority of India (AAI) and AAS Foundation, Indore.

This initiative aims to minimize the environmental impact of airport operations and promote eco-friendly waste management practices.

The project utilizes the 4R strategy: Reduce, Reuse, Recycle, and Recover.

Detailed Explanation:

IndiGo, through its CSR initiativeIndiGoReach, has launched the Zero Waste Airport Project at Indore Airport in collaboration with the Airports Authority of India (AAI) and AAS Foundation, Indore.

This initiative aims to minimize the environmental impact of airport operations and promote eco-friendly waste management practices.

The project utilizes the 4R strategy: Reduce, Reuse, Recycle, and Recover.

Objective:
Minimize the environmental impact of airport operations by implementing sustainable waste management practices.

Partnership:
Collaborative effort between IndiGo, AAI, and AAS Foundation, Indore.

Strategy:
The project follows the 4R framework – Reduce, Reuse, Recycle, and Recover.

Focus:
Emphasizes behavioral change, stakeholder engagement, and training for both airport staff and passengers.

16) Answer: A

Short Explanation:

On the 162nd birth anniversary of Pandit Madan Mohan Malaviya, Prime Minister Narendra Modi paid a heartfelt tribute to the renowned freedom fighter and educationist, recalling his significant contributions to India's independence and the establishment of Banaras Hindu University (BHU).

In honor of Mahamana Malaviya's legacy, PM Modi launched the first series of the ‘Collected Works of Pandit Madan Mohan Malaviya’ on December 25, 2023, at Vigyan Bhawan.

This collection spans 11 volumes and 4,000 pages, featuring a compilation of Malaviya’s speeches, letters, articles, and other writings.

Detailed Explanation:

On the 162nd birth anniversary of Pandit Madan Mohan Malaviya, Prime Minister Narendra Modi paid a heartfelt tribute to the renowned freedom fighter and educationist, recalling his significant contributions to India's independence and the establishment of Banaras Hindu University (BHU).

The Prime Minister highlighted Malaviya's unwavering commitment to education, calling him an enduring source of inspiration for generations.

In honor of Mahamana Malaviya's legacy, PM Modi launched the first series of the ‘Collected Works of Pandit Madan Mohan Malaviya’ on December 25, 2023, at Vigyan Bhawan.

This collection spans 11 volumes and 4,000 pages, featuring a compilation of Malaviya’s speeches, letters, articles, and other writings.

The collection also includes materials from his time as a member of legislative councils and his active role in the independence movement.

17) Answer: A

Short Explanation:

The Supreme Court has emphasized that the judiciary should not intervene in matters related to banking regulations and must defer to the Reserve Bank of India (RBI), which holds exclusive authority in this domain.

Banking Regulation Act, 1949: The judgment stressed that Section 21A of the Act mandates that interest rates charged by banks are beyond judicial scrutiny.

Detailed Explanation:

The Supreme Court has emphasized that the judiciary should not intervene in matters related to banking regulations and must defer to the Reserve Bank of India (RBI), which holds exclusive authority in this domain.

RBI’s Exclusive Authority: The Court reaffirmed that RBI is the only institution empowered to regulate banking operations and set mandates for banks.

Judicial Role: The role of the courts is limited to ensuring that the lawful authority of the RBI is not abused, not to interfere with tasks assigned to the RBI.

National Consumer Disputes Redressal Commission (NCDRC) Decision: The Court overruled the NCDRC’s 2008 decision that had capped credit card interest rates at 30%, calling it an overstep of judicial authority into the RBI's regulatory domain.

Banking Regulation Act, 1949: The judgment stressed that Section 21A of the Act mandates that interest rates charged by banks are beyond judicial scrutiny.

18) Answer: C

Short Explanation:

Malaysia has extended its 30-day visa exemption for Indian nationals until December 31, 2026, as part of efforts to enhance bilateral ties and boost tourism.

Detailed Explanation:

Malaysia has extended its 30-day visa exemption for Indian nationals until December 31, 2026, as part of efforts to enhance bilateral ties and boost tourism.

This initiative is part of Malaysia’s Visa Liberalisation Plan aimed at promoting economic and tourism growth, especially in anticipation of Visit Malaysia Year 2026 and Malaysia’s ASEAN chairmanship in 2025.

Eligibility for Visa Exemption: Indian nationals can stay in Malaysia for up to 30 days by presenting:

A return flight ticket

Proof of sufficient funds (bank statement or credit cards) upon arrival.

Tourism Impact: Indian travelers are crucial to Malaysia’s tourism industry:

19) Answer: C

Short Explanation:

India’s finished steel trade deficit reached ₹26,468 crore during April–November FY25, the highest in the past five years, as per a Steel Ministry report. Imports nearly doubled exports, with import volumes surging while export markets, especially in Europe, were stressed.

Key Importer:China dominated imports, accounting for one-third of the shipments, with volumes rising 23% y-o-y to 2 mt.

Detailed Explanation:

India’s finished steel trade deficit reached ₹26,468 crore during April–November FY25, the highest in the past five years, as per a Steel Ministry report. Imports nearly doubled exports, with import volumes surging while export markets, especially in Europe, were stressed.

Imports Overview

Net Imports: India imported 6.5 million tonnes (mt) of finished steel, a 26.6% year-on-year (y-o-y) increase.

Key Importer:China dominated imports, accounting for one-third of the shipments, with volumes rising 23% y-o-y to 2 mt.

Categories: Stainless steel, alloyed offerings (0.7 mt), plates, electrical sheets, and coated galvanised coils.

Trade Strategy: India’s Free Trade Agreements (FTAs) with other Asian nations allegedly facilitated China’s indirect steel dumping through investments in countries like Vietnam.

Other Importers:

Japan: Import volumes doubled y-o-y to 1.4 mt (from 0.7 mt).

Vietnam: Imports grew 11% y-o-y, despite a Directorate General of Trade Remedies (DGTR) probe.

20) Answer: C

Short Explanation:

The Union government has appointed Sandip Kumar Mishra as the new director of the National Testing Agency (NTA).

Mishra replaces Pradeep Singh Kharola, who previously served as the director.

Archana Shukla, Amit Kumar, and Shivani have been appointed as joint directors of NTA for four years.

Detailed Explanation:

The Union government has appointed Sandip Kumar Mishra as the new director of the National Testing Agency (NTA).

Mishra replaces Pradeep Singh Kharola, who previously served as the director.

Mishra will serve as NTA's director for the next five years.

Archana Shukla, Amit Kumar, and Shivani have been appointed as joint directors of NTA for four years.

Mishra was serving as Joint Commissioner of Income Tax prior to his appointment as NTA director.

Mishra is an alumnus of Jawaharlal Nehru University (JNU).

21) Answer: D

Short Explanation:

The bilateral naval exercise between India and Sri Lanka is named SLINEX 24 (Sri Lanka - India Exercise 2024).

Historical Context:SLINEX exercises were initiated in 2005 and have been conducted regularly since then.

Detailed Explanation:

The bilateral naval exercise between India and Sri Lanka is named SLINEX 24 (Sri Lanka - India Exercise 2024).

It was conducted from 17-20 December 2024 at Visakhapatnam under the Eastern Naval Command.

Indian Participation:

INS Sumitra, part of the Eastern Fleet, participated.

Special Forces teams also participated from the Indian side.

Sri Lankan Participation:

SLNS Sayura, an Offshore Patrol Vessel, represented the Sri Lankan Navy.

Historical Context:SLINEX exercises were initiated in 2005 and have been conducted regularly since then.

22) Answer: D

Short Explanation:

Peak XV Partners (formerly Sequoia India & Southeast Asia) sold a 1.5% stake in MobiKwik for ₹82 crore through an open market transaction.

The sale involved 12.01 lakh shares at an average price of ₹679.38 each, valued at ₹81.63 crore.

Detailed Explanation:

Peak XV Partners (formerly Sequoia India & Southeast Asia) sold a 1.5% stake in MobiKwik for ₹82 crore through an open market transaction.

The sale involved 12.01 lakh shares at an average price of ₹679.38 each, valued at ₹81.63 crore.

The transaction was conducted through a bulk deal on the National Stock Exchange (NSE).

After the sale, Peak XV Partners' stake in MobiKwik decreased from 2.81% to 1.26%.

MobiKwik's Initial Public Offering (IPO) involved the issuance of fresh equity shares worth up to ₹572 crore, with no offer-for-sale (OFS) component.

23) Answer: B

Short Explanation:

The Harish Sharma 3×3 Basketball Championship 2024 will occur on December 28 and 29 at the KD Jadhav Indoor Hall, Indira Gandhi Sports Complex, New Delhi.

Detailed Explanation:

The Harish Sharma 3×3 Basketball Championship 2024 will occur on December 28 and 29 at the KD Jadhav Indoor Hall, Indira Gandhi Sports Complex, New Delhi.

Organized by the Delhi Basketball Association, this event commemorates Harish Sharma, a legendary international basketball player and former Secretary General of the Basketball Federation of India.

3×3 Matches: Fast-paced, ten-minute games with three players per team, as per FIBA rules.

Special Events:

3-Point Shooting Competition

Free Throw Contest

Dunk Competition

Over 40 teams (Men and Women) will showcase their skills, with a mix of senior players and veterans.

24) Answer: B

Short Explanation:

Andy Pycroft, former Zimbabwe captain, achieved a remarkable milestone by officiating his 100th men's Test match as a referee during the Boxing Day Test between India and Australia.

Detailed Explanation:

Andy Pycroft, former Zimbabwe captain, achieved a remarkable milestone by officiating his 100th men's Test match as a referee during the Boxing Day Test between India and Australia.

He is now part of an exclusive group of match referees who have reached this significant mark.

Elite Match Referee Club

Ranjan Madugalle (Sri Lanka): 225 Tests

Jeff Crowe (New Zealand): 125 Tests

Chris Broad (England): 123 Tests

Andy Pycroft (Zimbabwe): 100 Tests

At 68 years old, Andy Pycroft’s dedication to the sport continues to inspire both players and officials, reinforcing his legacy in international cricket.

25) Answer: B

Short Explanation:

Vijayveer Sidhu, a 22-year-old shooter who finished ninth at the Paris Olympics, emerged victorious in the rapid-fire pistol event of the 67th National Shooting Championship at the Dr. Karni Singh Range, Tughlakabad.

Sidhu defeated Olympian Gurpreet Singh with a score of 28-25 in a gripping finale.

Detailed Explanation:

Vijayveer Sidhu, a 22-year-old shooter who finished ninth at the Paris Olympics, emerged victorious in the rapid-fire pistol event of the 67th National Shooting Championship at the Dr. Karni Singh Range, Tughlakabad.

Sidhu defeated Olympian Gurpreet Singh with a score of 28-25 in a gripping finale.

Maintained a strong lead, going four points ahead before the last five shots.

Recorded only one successful shot in the final 4-second series but managed to secure the win.

Climbed to the final after enduring multiple shoot-offs in the six-man finale.

Struggled with overtime shots, incurring penalties in four instances, including the last series.Announced this as his last Nationals, with plans to focus on coaching.

26) Answer: C

Short Explanation:

The International Day of Epidemic Preparedness, observed annually on December 27, serves as a global reminder of the urgent need to strengthen public health systems for preventing, detecting, and responding to infectious disease outbreaks.

Established: By the United Nations General Assembly on December 7, 2020.

Detailed Explanation:

The International Day of Epidemic Preparedness, observed annually on December 27, serves as a global reminder of the urgent need to strengthen public health systems for preventing, detecting, and responding to infectious disease outbreaks.

Established: By the United Nations General Assembly on December 7, 2020.

Inspiration: Born out of the COVID-19 pandemic experience, the observance highlights the importance of global efforts to tackle health crises.

Purpose: Raise awareness about epidemic prevention, enhance preparedness, and promote global collaboration in addressing health threats.

27) Answer: B

About MobiKwik :

Founded : April 2009

Headquarters : Gurgaon, Haryana, India

MD & CEO : Bipin Preet Singh

28) Answer: C

About the Pradhan Mantri Rashtriya Bal PuraskarAward:

Established: 1996 by the Ministry of Women and Child Development.

Eligibility: The award is for children between the ages of 5 and 18 who are Indian citizens residing in India.

Awardees: Each recipient receives a medal, certificate, and a cash prize of ₹1 lakh.

29) Answer: B

The Reserve Bank of India (RBI) has established an 8-member committee to develop a framework for the responsible and ethical enablement of artificial intelligence (AI) in the financial sector.

The committee is tasked with creating the FREE-AI framework (Responsible and Ethical Enablement of AI in Financial Services).

Committee Leadership and Members:The committee will be led by Professor Pushpak Bhattacharyya from IIT Bombay (Department of Computer Science and Engineering).

Timeline: The committee will submit its report within six months from its first meeting.

30) Answer: B

About IndusInd Bank :

Founded : April 1994

Headquarters : Mumbai, Maharashtra, India

MD & CEO : Sumant Kathpalia