Daily Current Affairs Quiz - 28th March 2024

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 28th March 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) According to the Brand Finance Insurance 100 2024 study, Life Insurance Corporation of India (LIC) is the world's strongest insurance brand, with a consistent brand value of how many billion dollars?

(a) $9.5billion

(b) $9.6billion

(c) $9.7billion

(d) $9.8billion

(e) $9.4billion


2)
From April to December 2023, India's forex reserves increased by how many billion dollars on a balance of payments basis?

(a) $32.9 billion

(b)  $32.4 billion

(c)  $32.6 billion

(d)  $32.8 billion

(e)  $32.7 billion


3)
Tata Capital Limited, the flagship financial services arm of the Rs 31-lakh rupee Tata Group, secured a $200 million loan from Singapore's DBS Bank and Taiwan's CTBC Bank over how many years?

(a) 2years

(b) 3years

(c) 4years

(d) 5years

(e) 1year


4)
The Insurance Regulatory and Development Authority of India has approved the creation of which platform on the online insurance marketplace for streamlined policy processes?

(a) Bima Sugam

(b) Saral Bima

(c) Bima Vahak

(d) Bima Vistar

(e) Bima Manthan


5)
Analysts see IRDAI's decision to maintain surrender value norms as favorable to life insurers. When will the norms become effective?

(a) March 31 2024

(b) April 30 2024

(c) May 01 2024

(d) April 01 2024

(e) June 01 2024


6)
The DGCA postpones the June 1 deadline for new rules governing pilots' rest and duty times.The guidelines, announced in January, extended the weekly rest intervals of flight crews to 48 hours from how many hours?

(a) 24hours

(b) 12hours

(c) 32hours

(d) 36hours

(e) 60hours


7)
Galaxy Health receives IRDAI certification to launch a health insurance business. Galaxy is the _________ standalone health insurer approved by the IRDAI in 2024.

(a) 1st

(b) 2nd

(c) 3rd

(d) 4th

(e) 5th


8)
Which edition of the Global Inequality Research Award (or GiRA) has the World Inequality Lab (WIL) and Sciences Po's Center for Research on Social Inequalities (CRIS) collaborated on?

(a) 1st

(b) 2nd

(c) 3rd

(d) 4th

(e) 5th


9)
ISRO received the Aviation Week Laureates Award for their contributions in the historic Chandrayaan-3 mission.The Chandrayaan-3 moon lander's landing site will now be known as __________________________.

(a) Tiranga point

(b) Jawahar point

(c) Shiv Shakti

(d) Sthal point

(e) Descartes point


10)
Which budget airline was named 'Airline of the Year' at the 2024 Air Transport Awards in Athens, Greece?

(a) SpiceJet

(b) AirIndia

(c) Indigo

(d) GoFirst

(e) Vistara


11)
The Norwegian Academy of Science and Letters will present the 2024 Abel Prize to Michel Talagrand of the French National Center for Scientific Research (CNRS).The Norwegian Parliament founded the prize in which year?

(a) 2000

(b) 2001

(c) 2002

(d) 2003

(e) 2004


12)
Swami Smaranananda Maharaj, the chief of the Ramakrishna Mission, died. He was elected as the_________ President of Ramakrishna Math and the Ramakrishna Mission.

(a) 15th

(b) 16th

(c) 14th

(d) 18th

(e) 20th


13)
The International Astronomical Union (IAU) Working Group approves 'Station Shiv Shakti' as the name for the Chandrayaan-3 Lander landing site. How many countries are members of the International Astronomical Union?

(a) 86

(b) 92

(c) 95

(d) 94

(e) 96


14)
Where is the headquarters of the International Astronomical Union (IAU)?

(a) Germany

(b) France

(c) USA

(d) Australia

(e) Russia


15)
The Gaia telescope reveals two ancient star streams that shaped the Milky Way around 12 billion years ago. Each stream has a mass comparable to approximately how many million Suns?

(a) 5million

(b) 10million

(c) 15million

(d) 20million

(e) 25million


16)
Which IIT alumnus Pavan Davuluri will take on leadership roles for Microsoft Windows and Surface?

(a) IIT Delhi

(b) IIT Madras

(c) IIT Roorkee

(d) IIT Bombay

(e) IIT Kanpur


17)
Hurun Research Institute has produced the 13th edition of the Hurun Global Rich List for 2024. India has 271 billionaires, making it the world's third richest country, surpassing which country?

(a) Germany

(b) France

(c) USA

(d) Australia

(e) Russia


18)
The National Commission for Women (NCW) and the Railway Protection Force announced a Memorandum of Understanding (MoU) to combat human trafficking in India. NCW formed an Anti-Human Trafficking Cell on which year?

(a) 2021

(b) 2020

(c) 2022

(d) 2023

(e) 2018


19)
Tejas Networks announced a strategic cooperation with which countries Telecom?

(a) Russia

(b) Egypt

(c) Iran

(d) Afghanistan

(e) Germany


20)
The Balance of Payments (BoP) is a systematic account that records all economic transactions between countries. How many types of Balance of Payments (BoP) exist?

(a) 4

(b) 5

(c) 2

(d) 3

(e) 6


Answers :

1) Answer: D

According to the Brand Finance Insurance 100 2024 report, Life Insurance Corporation of India (LIC) is recognized as the world's strongest insurance brand, with a steady brand value of $9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating.

Detailed Explanation:

According to the Brand Finance Insurance 100 2024 report, Life Insurance Corporation of India (LIC) is recognized as the world's strongest insurance brand, with a steady brand value of $9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating.Top Insurance Brands : Cathay Life Insurance is the second strongest brand, with a 9% increase in brand value to $4.9 billion, followed by NRMA Insurance, which saw an 82% rise in brand value to $1.3 billion.Meanwhile, Chinese insurance brands maintain dominance in the global rankings of most valuable insurance brands, with Ping An leading with a 4% increase in brand value to $33.6 billion followed by China Life Insurance and CPIC retaining their 3rd and 5th positions, respectively.Allianz from Germany and AXA from France are holding on to their 2nd and 4th positions in the top 5 rankings.Apart from NRMA Insurance from Australia, another insurance company experiencing significant growth in brand value is Denmark's Tryg, which saw a 66% rise to $1.6 billion.Financial Performance of LIC: LIC achieved the highest first-year premium collection of Rs 39,090 crore in the financial year 2023, while SBI Life Insurance and HDFC Life Insurance led the private sector with new business premium collections of Rs 15,197 crore and Rs 10,970 crore, respectively.Employee Benefits : The government also approved a 17% wage revision for LIC employees, effective from August 2022, benefiting over 110,000 employees. Market Valuation : LIC's shares also reached an all-time high of Rs 1,175, making it India's most valuable public sector undertaking (PSU) company and reclaiming its status as the 5th most valuable Indian listed company, surpassing SBI in market valuation.


2) Answer: A

India’s foreign exchange reserves increased by $32.9 billion during April-December 2023, on a balance of payments basis (excluding valuation effects), as against a depletion of $14.7 billion during the year-earlier period, data released by the Reserve Bank of India (RBI) showed.

Detailed Explanation:

India’s foreign exchange reserves increased by $32.9 billion during April-December 2023, on a balance of payments basis (excluding valuation effects), as against a depletion of $14.7 billion during the year-earlier period, data released by the Reserve Bank of India (RBI) showed.

Nominal Increase in Forex Reserves: On a nominal basis, which includes valuation effects, India's foreign exchange reserves saw a substantial increase of $44.0 billion during April to December 2023. This contrasts with a decrease of $44.6 billion observed during the same period in the previous year.Valuation Gain: The valuation gain amounted to $11.1 billion during April to December 2023. This gain reflects the depreciation of the U.S. dollar against major currencies, along with lower bond yields and higher prices of gold. In comparison, there was a valuation loss of $29.9 billion recorded during the corresponding period in the preceding year.


3) Answer: B

Tata Capital Limited, the flagship financial services company of the Rs 31-lakh crore Tata Group, has raised $200 million through a three- year loan from Singapore's DBS Bank and Taiwan's CTBC Bank.Tata Capital has the flexibility to price the loan at 120 basis points above the one month, three months, or six months Secured Overnight Financing Rate (SOFR), aligning with market movements.

Detailed Explanation:

Tata Capital Limited, the flagship financial services company of the Rs 31-lakh crore Tata Group, has raised $200 million through a three- year loan from Singapore's DBS Bank and Taiwan's CTBC Bank.Tata Capital has the flexibility to price the loan at 120 basis points above the one month, three months, or six months Secured Overnight Financing Rate (SOFR), aligning with market movements.Regular Borrowing Programme: This loan is part of Tata Capital's regular borrowing programme, indicating its ongoing financing activities to support its business operations and growth initiatives.ECB Programme: The funds raised are part of Tata Capital's $750-million external commercial borrowing (ECB) programme, in compliance with guidelines set by the Reserve Bank of India (RBI).Financial Performance: Tata Capital reported a net profit of Rs 1,023 crore in the quarter ended December 2023, marking a significant increase of 78% compared to the same period the previous year. Credit Ratings:In Feb 2024, the Tata Capital Ltd obtained a first-time long-term issuer credit rating of 'BBB-' from global rating agencies Standard and Poor's (S&P) and Fitch Ratings, which is equivalent to India's sovereign rating.


4) Answer: A

The Insurance Regulatory and Development Authority of India (IRDAI) has approved the establishment of Bima Sugam, an online insurance marketplace, aimed at simplifying the process of buying, selling, and servicing insurance policies, as well as settling claims.

Detailed Explanation:

The Insurance Regulatory and Development Authority of India (IRDAI) has approved the establishment of Bima Sugam, an online insurance marketplace, aimed at simplifying the process of buying, selling, and servicing insurance policies, as well as settling claims.Single Interface for Insurance: Bima Sugam will serve as a single interface for customers, intermediaries, and agents, facilitating the buying and selling of insurance policies across insurers in various categories such as life, health, and non-life.E-commerce Platform: Bima Sugam functions as an e-commerce platform where insurance companies can offer their products, providing customers with a seamless end-to-end digital journey.Paperless Policies: The platform eliminates paperwork by offering policies in electronic format, allowing customers to access all their policies (life, health, and non-life insurance) in one application or window.        Affordability of Insurance Policies: Bima Sugam is expected to make insurance policies more affordable by reducing commissions paid to intermediaries, potentially leading to lower premiums for policyholders.Unified Platform for Policy Management: Bima Sugam offers a unified platform for policy issuance, claim settlement, and service requests, enhancing transparency and collaboration in the insurance sector.Ownership and Governance: IRDAI has appointed a committee for the creation of Bima Sugam. Life insurance and general insurance companies will each own a 47.5% stake, while brokers and agent bodies will own 2.5% each, ensuring industry representation in the platform's governance.


5) Answer: D

The Insurance Regulatory and Development Authority of India (IRDAI) decision to retain the existing surrender value norms, amid requests from life insurance companies, is deemed positive for the companies.The norms will be effective on April 1, 2024.

Detailed Explanation:

The Insurance Regulatory and Development Authority of India (IRDAI) decision to retain the existing surrender value norms, amid requests from life insurance companies, is deemed positive for the companies.The norms will be effective on April 1, 2024.In December 2023, the insurance regulator proposed to increase the surrender value paid by insurance companies to policyholders.In the new norms, the guaranteed surrender value (GSV) under the revised regulations for other than single premium products is 30 percent if the policy is surrendered in the second year, 35 per cent in the third year,50 per cent between four years and seven years, and 90 per cent during the last two years.For single premium products, the GSV will be 75 per cent if surrendered within three years and 90 per cent if surrendered in the last two years of the policy tenure.An industry official noted that the regulation is broadly in line with the existing regulation on surrender value, with policyholders getting a near 8-10 percent benefit in longer tenure (above five years) non-participating (non-par) policies.Furthermore, the final product regulations also note that the sale of index-linked insurance products will be linked to the net asset value of the underlying publicly available index.


6) Answer: D

India's aviation regulator has postponed the deadline for airlines to implement new rules on rest and duty times for pilots without giving any reason or new target date. Announced in January, the rules increased flight crews’ weekly rest periods to 48 hours from 36 and cut pilots’ night flight duty times to a maximum of 10 hours from 13.

Detailed Explanation:

India's aviation regulator has postponed the deadline for airlines to implement new rules on rest and duty times for pilots without giving any reason or new target date.Announced in January, the rules increased flight crews’ weekly rest periods to 48 hours from 36 and cut pilots’ night flight duty times to a maximum of 10 hours from 13.however, the Directorate General of Civil Aviation (DGCA) allowed airlines to retain the older norms for the time being. The rule changes followed a review of data on pilot fatigue drawn from spot checks and airline surveillance after a pilot for budget carrier IndiGo collapsed and died in August before his flight.The Federation of Indian Airlines warned of the cancellation risk as the watchdog’s deadline left too little time to hire and train the 25% more pilots required to satisfy the new rules.Recently Tata Group-owned Air India was fined 8 million rupees ($96,000) by the regulator for breaching limits on flight duty times and fatigue management.


7) Answer: B

Galaxy Health and Allied Insurance Company has secured approval from the IRDAI to commence its health insurance business in the countryGalaxy is the second stand-alone health insurerto receive the nod from the IRDAI in 2024.

Detailed Explanation:

Galaxy Health and Allied Insurance Company has secured approval from the IRDAI to commence its health insurance business in the country.  This decision came during the 125th meeting of the regulator, marking a significant entry into the Indian insurance sector. With this approval, the count of stand-alone health insurers (SAHIs) in India will rise to seven, adding to the existing six. Galaxy is the second stand-alone health insurerto receive the nod from the IRDAI in 2024. Galaxy Health Insurance  will have an initial capital of over Rs 200 crore.The minimum equity capital requirement to set up a Life, General or Health Insurance Company is INR 100 crore;. in case of a Reinsurance company, the requirement is a minimum of INR 200 crore.


8) Answer: A

The World Inequality Lab (WIL) and Sciences Po’s Center for Research on Social Inequalities (CRIS) have joined forces for the first edition of the Global Inequality Research Award (or GiRA), which aims to recognize every two years researchers from all disciplines who have made a significant contribution to the understanding of global inequalities.

Detailed Explanation:

The World Inequality Lab (WIL) and Sciences Po’s Center for Research on Social Inequalities (CRIS) have joined forces for the first edition of the Global Inequality Research Award (or GiRA), which aims to recognize every two years researchers from all disciplines who have made a significant contribution to the understanding of global inequalities.GiRA wants to acknowledge leading scholarship in the area of global inequality understood from two major perspectives:

First, the perspective of inequality research is being conducted in all corners of the world.Second, the perspective of inequality is a complex phenomenon that requires light from all angles to be fully understood and ultimately mitigated.The 2024 GiRA Prize is jointly awarded to Bina Argawal and James K. Boyce for their groundbreaking work in the field of social and environmental inequalities. Bina Agarwal (University of Manchester), an economist, is the author of pioneering work on gender inequalities, environmental governance, ecofeminism and environmental inequalities.James K. Boyce (University of Massachusetts Amherst), an economist, is the author of seminal work on the relationship between social inequality and environmental degradation, and has made a major contribution to structuring the field of environmental political economy. The two laureates will be invited to receive their awards and present an overview of their work at conferences in Paris in the fall and spring of 2024, organized in conjunction with Sciences Po’s Social-Ecological Transitions (SET) initiative.


9) Answer: C

The Aviation Week Laureates Award was presented to ISRO for its achievements in the historic Chandrayaan-3 mission.The point where the moon lander of Chandrayaan-3 landed will now be known as Shiv Shakti. In Shiv, there is resolution for the welfare of humanity and Shakti gives us strength to fulfil those resolutions. This Shiv Shakti point of the moon also gives a sense of connection with Himalaya to Kanyakumari.

Detailed Explanation:

The Aviation Week Laureates Award was presented to ISRO for its achievements in the historic Chandrayaan-3 mission.Sripriya Ranganathan, Deputy Ambassador at the Indian Embassy in the US, received the award on behalf of ISRO.The Aviation Week Laureates Award is known for recognizing exceptional achievements within the aerospace industry.With a cost of a modest $75 million, this mission achieved a historic milestone by making a successful landing at the lunar South Pole. Chandrayaan-3 confirmed the presence of water in this region, a discovery that has profound implications for future lunar exploration and the possibility of sustaining life on the Moon.The recognition by Aviation Week reflects international appreciation and respect for ISRO's contribution to space exploration.Earlier, the Leif Erikson Lunar Prize was given to ISRO from the Husavik Museum for its unwavering commitment and significant contribution to lunar exploration.In another accolade for the space agency, the International Astronomical Union (IAU) working group for Planetary System Nomenclature has approved the name ‘Station Shiv Shakti’ for the landing site of Chandrayaan-3’s lander.It is located at the co-ordinates 69.373°S 32.319°E and lies between the lunar craters Manzinus C and Simpelius N.Soon after the landing PM Narendra Modi had on Aug 26, 2023, named the moon landing site ‘Shiv Shakti’. The point where the moon lander of Chandrayaan-3 landed will now be known as Shiv Shakti. In Shiv, there is resolution for the welfare of humanity and Shakti gives us strength to fulfil those resolutions. This Shiv Shakti point of the moon also gives a sense of connection with Himalaya to Kanyakumari.India is represented by the Astronomical Society of India (ASI).PM previously named the Chandrayaan-2 crash site ‘Tiranga point’, while former President A.P.J. Abdul Kalam suggested ‘Jawahar Point’ for the Chandrayaan-1 impact probe landing site, reflecting a tradition of honoring national figures and symbols.


10) Answer: C

Budget airline IndiGo is named as the ‘Airline of the Year’ at theAir Transport Awards 2024 held in Greece’s Athens.IndiGo recently became India’s first carrier to operate 2,000 daily flights and carry 100 million passengers in a year.

Detailed Explanation:

Budget airline IndiGo is named as the ‘Airline of the Year’ at theAir Transport Awards 2024 held in Greece’s Athens.IndiGo recently became India’s first carrier to operate 2,000 daily flights and carry 100 million passengers in a year. The low-cost carrier aims to aggressively expand its network by doubling its fleet size by the end of this decade.The 2024 Air Transport Awards was organised in partnership with Hermes – Air Transport Organisation and ATN – Air Transport News to recognize the contributions made in the aviation sector. The winners are voted for by both the readers of Air Transport News as well as a jury of international aviation experts.Founded in 2005, IndiGo is the largest aviation company in India with respect to market share and operates a fleet of over 350 aircraft. The airline is currently operating around 2000 daily flights and connecting over 85 domestic destinations and more than 30 international destinations.


11) Answer: C

The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2024 to Michel Talagrand of the French National Center for Scientific Research (CNRS), Paris, France.The Norwegian Parliament established the prize in 2002.

Detailed Explanation:

The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2024 to Michel Talagrand of the French National Center for Scientific Research (CNRS), Paris, France.Michel Talagrand is awarded for his work in probability theory and stochastic processes. From the outset, the development of probability theory was motivated by problems that arose in the context of gambling or assessing risks.The Abel Prize was modelled after the Nobel Prizes — which do not include mathematics — and was first awarded in 2003. The recipient wins a sum of 7.5 million Norwegian kroner (US$700,000).


12) Answer: B

Swami Smaranananda Maharaj, president of Ramakrishna Math and Ramakrishna Mission, Passed away at the age of 95 in Kolkata.He was elected as the 16th President of Ramakrishna Math and Ramakrishna Mission during a meeting of the Math's Board of Trustees and the Mission's Governing Body on July 17, 2017.

Detailed Explanation:

Swami Smaranananda Maharaj, president of Ramakrishna Math and Ramakrishna Mission, Passed away at the age of 95 in Kolkata.Swami Smaranananda was born in 1929 in Thanjavur in Tamil NaduHe received initiation from Swami Shankarananda in 1952, and joined the Ramakrishna Order that same year at its Mumbai centre.He was the Ramakrishna Math.

In 1976, he became the secretary of the Ramakrishna Mission Saradapitha, a large educational institution located next to Belur Math, where he served for nearly 15 years. In 1991, he became the head of Sri Ramakrishna Math, Chennai.In 1983, he was appointed a trustee of the Ramakrishna Math and a member of the governing body of the Ramakrishna Mission.

In 1997, he became the general secretary of the organization, and was made a vice-president in 2007.He was elected as the 16th President of Ramakrishna Math and Ramakrishna Mission during a meeting of the Math's Board of Trustees and the Mission's Governing Body on July 17, 2017.


13) Answer: B

The International Astronomical Union (IAU) working group for Planetary System Nomenclature has approved the name 'Station Shiv Shakti' for the landing site of Chandrayaan-3's lander.Membership and Representation: The IAU comprises 92 countries, with 85 being National Members. India is represented by the Astronomical Society of India (ASI).

Detailed Explanation:

The International Astronomical Union (IAU) working group for Planetary System Nomenclature has approved the name 'Station Shiv Shakti' for the landing site of Chandrayaan-3's lander.The landing site is situated at the coordinates69.373°S 32.319°E, positioned between the lunar craters Manzinus C and Simpelius N.Naming by PM Narendra Modi: Prime Minister Narendra Modi named the moon landing site 'Shiv Shakti' on August 26, 2023, soon after the landing of Chandrayaan-3's lander. He emphasized the significance of the name, relating it to resolutions for the welfare of humanity and the strength to fulfill those resolutions, along with a sense of connection with India, from Himalaya to Kanyakumari.IAU Background: The International Astronomical Union (IAU) was founded in 1919.  It is the world’s largest professional body for astronomers.In 1982, the United Nations, at its ‘Fourth Conference on the Standardization of Geographical Names’ held in Geneva, recognised the authority of the IAU on assigning “extraterrestrial names” by adopting a resolution.Membership and Representation: The IAU comprises 92 countries, with 85 being National Members. India is represented by the Astronomical Society of India (ASI).Tradition of Naming: The tradition of naming lunar landing sites after national figures and symbols is evident from previous instances such as PM Modi naming the Chandrayaan-2 crash site 'Tiranga point'and former President A.P.J. Abdul Kalam suggested 'Jawahar Point' for the Chandrayaan-1 impact probe landing site.


14) Answer: B

About International Astronomical Union :

  • Established : 28 July 1919
  • Headquarters : Paris, France
  • President : Debra Meloy Elmegreen
  • The International Astronomical Union is a non-governmental organisation to advance astronomy in all aspects, including promoting astronomical research, outreach, education, and development through global cooperation.


15) Answer: B

The European Space Agency's (ESA) Gaia telescope has made a significant discovery, unveiling two ancient streams of stars that contributed to the formation of the Milky Way galaxy over 12 billion years ago.ESA's Gaia mission has provided unprecedented insights into the history of our galaxy, shedding light on its formation and evolution over billions of years.Each stream contains a mass equivalent to about 10 million Suns.

Detailed Explanation:

The European Space Agency's (ESA) Gaia telescope has made a significant discovery, unveiling two ancient streams of stars that contributed to the formation of the Milky Way galaxy over 12 billion years ago.ESA's Gaia mission has provided unprecedented insights into the history of our galaxy, shedding light on its formation and evolution over billions of years.

Naming of Star Streams: Researchers named the discovered star streams "Shakti" and "Shiva," drawing inspiration from Hindu philosophy where these divine figures are believed to have united to create the universe.Age and Composition: The stars comprising the Shakti and Shiva streams are estimated to be 12 to 13 billion years old, making them some of the oldest components of the Milky Way. Each stream contains a mass equivalent to about 10 million Suns.Galactic Structure: The Milky Way is described as a large spiral-shaped galaxy with a diameter of approximately 100,000 light-years.It consists of hundreds of billions of stars, along with gas and dust, arranged in spiraling arms extending from the galactic center.

Definition of Light Year:A light year is the distance light travels in a year, 5.9 trillion miles (9.5 trillion km). Stars, gas and dust extend from the galactic center in lengthy spiraling arms, with our sun residing on one of those.Gaia's Mission : Gaia, launched in 2013, is assembling the largest and most precise three-dimensional map of the Milky Way, measuring the positions, distances and motions of stars.


16) Answer: B

Microsoft has made a strategic move by reuniting its Windows and Surface teams under a single leadership, marking a return to a familiar structure within the company's Engineering and Devices organization. Pavan Davuluri,an IIT Madras alumni, was appointed the new head of Microsoft Windows and Surface, making him the latest Indian to take on a leadership role at a Big Tech company much like Google's Sundar Pichai and Microsoft's Satya Nadella

Detailed Explanation:

Microsoft has made a strategic move by reuniting its Windows and Surface teams under a single leadership, marking a return to a familiar structure within the company's Engineering and Devices organization. This decision comes after a brief separation, during which the Windows team was temporarily aligned with Microsoft's new AI division.Pavan Davuluri,an IIT Madras alumni, was appointed the new head of Microsoft Windows and Surface, making him the latest Indian to take on a leadership role at a Big Tech company much like Google's Sundar Pichai and Microsoft's Satya NadellaMr Davuluri takes over from longtime product chief Panos Panay who left the department to join Amazon last year.In his new role, Davuluri will lead a dedicated team that develops silicon systems for Microsoft's Windows and Surface products.Davuluri, who previously oversaw Microsoft's hardware initiatives, will now take on the additional responsibility of leading Windows engineering.


17) Answer: A

Among global billionaires of Hurun Global Rich List, Tesla CEO, Elon Musk, has re-emerged as the richest man, boasting a fortune of $231 billion followed by Amazon founder Jeff Bezos, with a net worth of $185 billion, Bernard Arnault ($175 billion), Mark Zuckerberg ($158 billion) and Larry Willson ($140 billion).With 271 billionaires, India is now the third-ranked country globally, surpassing Germany.

Detailed Explanation:

Among global billionaires of Hurun Global Rich List, Tesla CEO, Elon Musk, has re-emerged as the richest man, boasting a fortune of $231 billion followed by Amazon founder Jeff Bezos, with a net worth of $185 billion, Bernard Arnault ($175 billion), Mark Zuckerberg ($158 billion) and Larry Willson ($140 billion).Hurun Global Rich List’s wealth calculations are a snapshot for the year ended January 15, 2024. It is the 13th edition of the ranking.India witnessed a “super strong year”, with the country adding the most new entrants to the billionaire list, after the US (132). China added only 55 new faces. Mukesh Ambani (10th rank)i, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms. Gautam Adani, chairman of the Adani group, is the next Indian on the global rich list, ranking 15th. Adani, 61, has a net worth of $86 billion, a figure that includes a $33 billion increase in wealth following a sharp recovery in his companies’ shares in 2023.Shiv Nadar & Family (34) has been ranked 3rd followed by Cyrus Poonawala(55) and Dilip Shangavi(61).The report highlighted the dominance of specific industries in contributing to India's billionaire boom, with the pharmaceutical sector leading the pack with 39 billionaires, followed by the automobile and auto components industry (27), and the chemicals sector (24). Mumbai has pipped Beijing to become Asia's billionaire capital for the first time. New Delhi with 57 billionaire ranked at 9th.New York has the highest concentration of billionaires (119), followed by London (97) Mumbai (92) Beiing(91) Shangai (87).India added the second-highest number of new billionaires (94) after the US (109) China ranked 3rd with 55.With 271 billionaires, India is now the third-ranked country globally, surpassing Germany.Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year and taking it to third in the world and Asia's billionaire capital.


18) Answer: C

The National Commission for Women (NCW) and the Railway Protection Force came together to announce a landmark Memorandum of Understanding (MoU) aimed at strengthening efforts to combat human trafficking across India. NCW, which established an Anti-Human Trafficking Cell on April 2, 2022, has already been working with the Central Industrial Security Force (CISF) to combat the trafficking of women.

Detailed Explanation:

The National Commission for Women (NCW) and the Railway Protection Force came together to announce a landmark Memorandum of Understanding (MoU) aimed at strengthening efforts to combat human trafficking across India. The MOU was signed by NCW Joint Secretary A Asholi Chalai and RPF Inspector General Sarvapriya Mayank. It underscores the commitment of both organizations to tackle the grave issue of human trafficking, especially within the extensive network of Indian Railways.The initiative comes as a response to the alarming statistics revealing that 70% of trafficked victims are women, highlighting the urgent need for concerted action to protect the most vulnerable in society.


19) Answer: B

Tejas Networks Ltd. announced that it signed a Memorandum of Understanding with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency), and National Telecom Institute to replicate implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt.

Detailed Explanation:

Tejas Networks Ltd. announced that it signed a Memorandum of Understanding with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency), and National Telecom Institute to replicate implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt.

The agreement aims to accelerate the vision of Digital Egypt, upskill Egyptian engineers and technicians, establish local manufacturing and R&D facilities, and set up technical support services in Egypt.Bangalore-based Tejas Networks Ltd designs and manufactures wireline and wireless networking products for telecommunications service providers, internet service providers, and defence and government entities in over 75 countries.


20) Answer: D

The Balance of Payments (BoP) is a systematic account that tracks all economic dealings between a country's residents and the rest of the world over a defined period, typically annually. It operates on the principle of the Double Entry System and is structured into two sides: the Credit side and the Debit side.The balance of payment is divided into three types:

  • Current account
  • Capital account
  • Finance account
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Daily Current Affairs Quiz - 13th June 2024

Jun 14 2024

Daily Current Affairs 14 June 2024 | Latest News | Download Free PDF

Jun 14 2024

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