Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 28th November 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) In principle, the Union Cabinet has decided to remove the need for a bank guarantee when telecom companies pay for postponed spectrum. How much worth of upfront bank guarantees has the government decided to forgo for telecom operators?

(a) Rs.10000crore

(b) Rs.20000crore

(c) Rs.30000crore

(d) Rs.40000crore

(e) Rs.50000crore

2) In FY25, commercial banks are anticipated to issue more than ₹1 trillion in infrastructure bonds, almost tripling the ₹51,081 crore they raised in FY24. Which percentage coupon rate was applied to the ₹10,000 crore that the State Bank of India (SBI) raised in November 2024 through 15-year infrastructure bonds?

(a) 7.21%

(b) 7.22%

(c) 7.23%

(d) 7.24%

(e) 7.25%

3) How many crores was the system's liquidity shortage addressed by the Reserve Bank of India (RBI)?

(a) ₹6,956 crore

(b) ₹6,756 crore

(c) ₹6,856 crore

(d) ₹6,656 crore

(e) ₹6,556 crore

4) According to the Reserve Bank of India's most recent data, the percentage of high-cost deposits (those with interest rates higher than 7%) rose from 54.7% in the previous year to what percentage in the September 2024 quarter?

(a) 68.8%

(b) 67.8%

(c) 66.8%

(d) 65.8%

(e) 69.8%

5) The Securities and Exchange Board of India (SEBI) has given Angel One Asset Management Company permission to administer the assets for Angel One Mutual Fund. How many mutual fund houses currently manage assets under management (AUM) of above ₹66 lakh crore in India?

(a) 40

(b) 43

(c) 45

(d) 47

(e) 48

6) How many nations are the National Payments Corporation of India (NPCI) negotiating with to broaden the use of RuPay and the Unified Payments Interface (UPI)?

(a) 10

(b) 11

(c) 12

(d) 9

(e) 15

7) According to the report, 'Basic Animal Husbandry Statistics 2024' will be launched on National Milk Day in 2024. Which state is at the top in Milk production?

(a) Uttar Pradesh

(b) Rajasthan

(c) Gujarat

(d) Madhya Pradesh

(e) Maharashtra

8) With the intermediate objective of controlling foot-and-mouth disease (FMD) by 2025, India is stepping up its efforts to eradicate it by 2030. With a compound annual growth rate (CAGR) of 6.87%, India ranked _____ in the world for egg production.

(a) 1st

(b) 2nd

(c) 3rd

(d) 4th

(e) 5th

9) As per the report, the Union Home and Cooperation Minister Amit Shah chairs a high-level committee that has authorized ₹1,115.67 crore for capacity-building and disaster mitigation projects in several Indian states. How many states will about Rs. 1,000 crore be allocated to reduce the risk of landslides?

(a) 11

(b) 12

(c) 13

(d) 14

(e) 15

10) Which nation was starting a debt exchange to restructure its debt in dollars by exchanging $12.6 billion in bonds for longer-dated notes?

(a) Myanmar

(b) Sri Lanka

(c) Bangladesh

(d) Nepal

(e) Bhutan

11) The Delhi government has launched a senior citizen pension plan that provides inhabitants 60 years of age and more with monthly cash support. How many rupees do people 70 and older make each month?

(a) Rs.1500

(b) Rs.1000

(c) Rs.2000

(d) Rs.2500

(e) Rs.3000

12) A new investigation into Byju's financial and accounting methods has been started by the Indian government. Byju was once a shining example of India's edtech success. Which city's regional office is in charge of looking into Byju's financial records?

(a) Kolkata

(b) Bengaluru

(c) Kochi

(d) Hyderabad

(e) Mumbai

13) Which nation has announced the appointment of Dinesh Bhatia, a 1992 batch Indian Foreign Service (IFS) officer, as India's next ambassador?

(a) Afghanistan

(b) Bhutan

(c) Brazil

(d) UAE

(e) Thailand

14) Which nation has appointed G Balasubramanian, an Indian Foreign Service (IFS) officer from the 1998 batch, as its High Commissioner?

(a) Hong Kong

(b) Singapore

(c) Maldives

(d) France

(e) Germany

15) Which city will hold the largest-ever National Maritime Search and Rescue Exercise (SAREX-24), organized by the Indian Coast Guard (ICG), on November 28–29, 2024?

(a) Kolkata

(b) Bengaluru

(c) Kochi

(d) Hyderabad

(e) Mumbai

16) Which bank was permitted by the Competition Commission of India (CCI) to purchase the conventional Chartered Bank, India Branch's portfolio of conventional unsecured personal loans?

(a) Axis bank

(b) HDFC bank

(c) Kotak Mahindra bank

(d) Federal bank

(e) ICICI bank

17) Which company's acquisition by Shoreline International Holdings is approved by the Competition Commission of India?

(a) Meesho

(b) Flipkart

(c) Amazon

(d) Alibaba

(e) Nykaa

18) Which business has introduced the first large-scale, multilingual Gen AI-powered speech bot for customer service in India?

(a) Meesho

(b) Flipkart

(c) Amazon

(d) Purple

(e) Nykaa

19) Recently(Nov’24), TCS renewed its cooperation with the Indian government's System for Pension Administration - Raksha (SPARSH) for three years. When was SPARSH released?

(a) January 2020

(b) October 2020

(c) March 2020

(d) December 2020

(e) April 2020

20) To strengthen India's position in the _______ billion global gaming market, the Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with WinZO, a social gaming platform, for two years.

(a) $100billion

(b) $200billion

(c) $150billion

(d) $250billion

(e) $300billion

Answers :

1) Answer: C

Short Explanation:

The Union Cabinet has agreed in principle to waive the bank guarantee requirement for deferred spectrum payments by telecom operators.

The waiver applies to spectrum acquired by telcos in auctions held between 2012 and 2022, with exceptions for 2022 and 2024 auctions where the requirement was already removed.

Impact on Financial Guarantees:The government will forgo bank guarantees worth ₹30,000 crore, which were previously required upfront from telecom operators.

Detailed Explanation:

The Union Cabinet has agreed in principle to waive the bank guarantee requirement for deferred spectrum payments by telecom operators.

The waiver applies to spectrum acquired by telcos in auctions held between 2012 and 2022, with exceptions for 2022 and 2024 auctions where the requirement was already removed.

Impact on Financial Guarantees:The government will forgo bank guarantees worth ₹30,000 crore, which were previously required upfront from telecom operators.

Telecom operators like Airtel and Jio were set to submit guarantees worth ₹2,300 crore and ₹4,000 crore, respectively.

Exemption for Vodafone Idea (Vi):The waiver benefits Vodafone Idea (Vi), whose spectrum auction dues moratorium ends in October 2025.

Vi was asked to submit guarantees for ₹24,747 crore due in September 2025.

Vi had missed two previous bank guarantee payments, including a ₹350 crore guarantee for a 2012 auction and over ₹4,600 crore for a 2016 auction.

Market Response:Vi’s shares rose 7.8% following the announcement, while Airtel's shares saw a slight decrease of 0.1%.

2) Answer: C

Short Explanation:

Commercial banks are expected to raise over ₹1 trillion through infrastructure bond issuances in FY25, nearly doubling the ₹51,081 crore raised in FY24.

Funds Raised So Far: By November 2024, ₹74,256 crore has been raised through infrastructure bonds, with the total expected to exceed ₹1 trillion by the end of FY25.

Recent Issuances:State Bank of India (SBI): Raised ₹10,000 crore in November 2024 through 15-year infra bonds with a 7.23% coupon rate.

Detailed Explanation:

Commercial banks are expected to raise over ₹1 trillion through infrastructure bond issuances in FY25, nearly doubling the ₹51,081 crore raised in FY24.

Funds Raised So Far: By November 2024, ₹74,256 crore has been raised through infrastructure bonds, with the total expected to exceed ₹1 trillion by the end of FY25.

Role of State-Owned Banks: State-owned banks like State Bank of India, Bank of Baroda, Canara Bank, and others have been active in tapping the domestic capital market to raise funds via infra bonds to support credit growth amidst challenges in deposit mobilization.

Advantages of Infra Bonds for Banks:Infra bond proceeds are exempt from regulatory reserve requirements such as SLR (Statutory Liquidity Ratio) and CRR (Cash Reserve Ratio), unlike deposit funds that require banks to maintain reserve ratios.

Infra bonds can be fully deployed for lending activities, providing banks greater flexibility in using the funds.

Recent Issuances:State Bank of India (SBI): Raised ₹10,000 crore in November 2024 through 15-year infra bonds with a 7.23% coupon rate.

Bank of India: Plans to raise ₹5,000 crore through 10-year infra bonds with an option to raise an additional ₹3,000 crore.

3) Answer: A

Short Explanation:

After a prolonged period of surplus liquidity (₹1.4 lakh crore for over two months), the banking system experienced a decline in cash.

The Reserve Bank of India (RBI) injected ₹6,956 crore into the system to address the liquidity deficit.

Detailed Explanation:

After a prolonged period of surplus liquidity (₹1.4 lakh crore for over two months), the banking system experienced a decline in cash.

The Reserve Bank of India (RBI) injected ₹6,956 crore into the system to address the liquidity deficit.

Factors Contributing to Liquidity Deficit:The balance of payments (BoP) turned negative at $23 billion in the ongoing quarter due to:

Persistent outflows from Foreign Portfolio Investors (FPIs).

RBI is selling dollars to support the rupee.

Impact on Borrowing Costs:The liquidity deficit caused the weighted average call rate (WACR) to rise by 22 basis points to 6.72% above the policy repo rate.

This increase in WACR results in higher borrowing costs for banks and companies raising funds through debt instruments like certificates of deposits and commercial papers.

4) Answer: A

Short Explanation:

According to the latest data released by the Reserve Bank of India, the share of high-cost deposits (over 7% interest rate) increased to 68.8% in the September 2024 quarter, up from 54.7% a year ago.

In March 2023, the share was only 33.7%, reflecting a significant shift during the monetary policy tightening cycle.

Detailed Explanation:

According to the latest data released by the Reserve Bank of India, the share of high-cost deposits (over 7% interest rate) increased to 68.8% in the September 2024 quarter, up from 54.7% a year ago.

In March 2023, the share was only 33.7%, reflecting a significant shift during the monetary policy tightening cycle.

Deposit Growth:

PSBs' deposit growth rose to 9.0% YoY (September quarter) from 8.1% YoY (June quarter).

Private sector banks outpaced PSBs with a deposit growth rate of above 15%.

Credit Growth:

PSBs: Credit share at 53.2%, with a 13.0% YoY growth.

Private Banks: Credit share at 11.9%, with an 11.9% YoY growth.

Term Deposits and CASA:Term deposits' share in total deposits rose to 61.4% in September 2024 from 59.8% a year ago, as they offered more attractive returns.

Growth in term deposits outpaced CASA (Current Account and Savings Account) deposits.

5) Answer: C

Short Explanation:

Angel One Asset Management Company has received the Securities and Exchange Board of India’s (SEBI) approval to act as the asset management company for Angel One Mutual Fund.

Mutual Fund Industry:Currently, 45 mutual fund houses operate in India, managing over ₹66 lakh crore in assets under management (AUM).

Detailed Explanation:

Angel One Asset Management Company has received the Securities and Exchange Board of India’s (SEBI) approval to act as the asset management company for Angel One Mutual Fund.

The mutual fund business will focus exclusively on passive investment solutions, including index funds and exchange-traded funds (ETFs).

Market Entry:Angel One's entry marks its debut in the asset management space with a focus on expanding the base of retail investors across India.

Recent Industry Trends:In Nov 2024, Unifi Asset Management Private Limited, a subsidiary of Unifi Capital, also received SEBI approval to launch its mutual fund operations.

Mutual Fund Industry:Currently, 45 mutual fund houses operate in India, managing over ₹66 lakh crore in assets under management (AUM).

6) Answer: A

Short Explanation:

The National Payments Corporation of India (NPCI) is in discussions with 10 countries to expand the reach of Unified Payments Interface (UPI) and RuPay.

Currently, UPI is operational in seven countries including France, UAE, Singapore, Bhutan, Sri Lanka, Mauritius, and Nepal.

Global Agreements: Commercial agreements for UPI implementation have already been signed with Namibia, Trinidad and Tobago, and Peru.

Detailed Explanation:

The National Payments Corporation of India (NPCI) is in discussions with 10 countries to expand the reach of Unified Payments Interface (UPI) and RuPay.

Currently, UPI is operational in seven countries including France, UAE, Singapore, Bhutan, Sri Lanka, Mauritius, and Nepal.

Global Agreements: Commercial agreements for UPI implementation have already been signed with Namibia, Trinidad and Tobago, and Peru.

The implementation of UPI in these countries is expected in a few weeks.

UPI Growth and Transactions: UPI’s daily transactions crossed 500 million in September 2024.

In total, UPI processed 15.04 billion transactions worth ₹20.64 lakh crore in September. The adoption of UPI is growing with over 400 million users.

Transaction Failure Reduction: Since UPI's launch in 2016, transaction failure rates have decreased from 8-10% to 0.7-0.8%, showcasing improvements in the system's reliability.

UPI Lite: UPI Lite allows users to make low-value transactions without needing a UPI pin.

7) Answer: A

Short Explanation:

On National Milk Day (November 26, 2024), Union Minister Shri Rajiv Ranjan Singh, along with Ministers of State Prof. S.P. Singh Baghel and Shri George Kurian, released the annual publication 'Basic Animal Husbandry Statistics (BAHS) 2024' in New Delhi.

Milk Production

Total Production: 239.30 million tonnes.

Growth: 5.62% over the past decade; 3.78% growth from 2022-23.

Top States:

Uttar Pradesh (16.21%)

Rajasthan (14.51%)

Madhya Pradesh (8.91%)

Detailed Explanation:

On National Milk Day (November 26, 2024), Union Minister Shri Rajiv Ranjan Singh, along with Ministers of State Prof. S.P. Singh Baghel and Shri George Kurian, released the annual publication 'Basic Animal Husbandry Statistics (BAHS) 2024' in New Delhi.

This report, prepared by the Department of Animal Husbandry and Dairying, provides critical data on the trends and production estimates in India’s livestock and dairy sectors, forming the basis for policy-making.

Based on the Integrated Sample Survey (ISS) conducted between March 2023 - February 2024.

Covers state-wise production estimates for Milk, Eggs, Meat, and Wool.

Includes data on veterinary infrastructure, artificial inseminations, and global livestock trends.

Milk Production

Total Production: 239.30 million tonnes.

Growth: 5.62% over the past decade; 3.78% growth from 2022-23.

Top States:

Uttar Pradesh (16.21%)

Rajasthan (14.51%)

Madhya Pradesh (8.91%)

Gujarat (7.65%)

Maharashtra (6.71%)

Highest Annual Growth Rate (AGR):

West Bengal (9.76%)

Jharkhand (9.04%)

Chhattisgarh (8.62%).

8) Answer: B

Short Explanation:

India is intensifying efforts to eradicate foot-and-mouth disease (FMD) by 2030, with an intermediary goal of controlling it by 2025.

This ambitious initiative, announced by the Union Minister of Animal Husbandry and Dairying Rajiv Ranjan Singh, aims to enhance milk production, improve livestock productivity, and enable significant growth in dairy exports.

India ranks second globally in egg production, with a CAGR of 6.87%.

Detailed Explanation:

India is intensifying efforts to eradicate foot-and-mouth disease (FMD) by 2030, with an intermediary goal of controlling it by 2025.

This ambitious initiative, announced by the Union Minister of Animal Husbandry and Dairying Rajiv Ranjan Singh, aims to enhance milk production, improve livestock productivity, and enable significant growth in dairy exports.

Current Challenge: FMD severely impacts livestock, with a morbidity rate of 100% and a mortality rate of 5% in adult animals.

Impact: Reduces milk production, weight, and overall economic returns.

Strategy: Scaling up vaccination efforts, aiming for an FMD-free India by 2030.

Milk Production: India produced 239.30 million tonnes (mt) of milk in 2023-24, up 3.78% from the previous year’s 230.58 mt.

Per-Capita Availability: Rose to 471 grams/day in 2023-24.

Low Productivity:

Crossbred Cattle: Average yield of 8.12 kg/day in 2023-24.

Indigenous Cattle: Average yield of 4.01 kg/day.

Global Gap: Annual productivity remains at 1,777 kg/animal/year, far below the global average of 2,699 kg/animal/year.

Meat Production: Grew to 10.25 mt in 2023-24, making India the fifth-largest producer globally.

Egg Production:

Total output reached 138.38 billion eggs in 2023-24, a 3.17% increase from the previous year.

India ranks second globally in egg production, with a CAGR of 6.87%.

Per-capita availability: 103 eggs/year.

9) Answer: E

Short Explanation:

A high-level committee chaired by Union Home and Cooperation Minister Amit Shah has approved ₹1,115.67 crore for disaster mitigation and capacity-building initiatives across various Indian states.

₹1,000 crore will be allocated to mitigate landslide risks in 15 states:

Northeast States: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura.

Himalayan and Western Ghats States: Himachal Pradesh, Uttarakhand, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal.

Detailed Explanation:

A high-level committee chaired by Union Home and Cooperation Minister Amit Shah has approved ₹1,115.67 crore for disaster mitigation and capacity-building initiatives across various Indian states.

This decision comes as the country grapples with an increase in extreme weather events and related disasters.

Funds Allocation for Landslide Mitigation:

₹1,000 crore will be allocated to mitigate landslide risks in 15 states:

Northeast States: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura.

Himalayan and Western Ghats States: Himachal Pradesh, Uttarakhand, Karnataka, Kerala, Maharashtra, Tamil Nadu, and West Bengal.

₹115.67 crore will be utilized to train and build capacity for Civil Defense volunteers across all states and Union Territories.

Urban Flood Risk Mitigation:

₹3,075.65 crore approved for seven cities to address urban flood risks.

Glacial Lake Outburst Flood (GLOF) Risk Management:

₹150 crore allocated for managing GLOF risks in four states.

10) Answer: B

Short Explanation:

Sri Lanka is launching a debt exchange to swap $12.6 billion of its bonds for longer-dated notes as part of its dollar-denominated debt restructuring.

Investors can tender their holdings for new international bonds with a 27% haircut on the nominal amount of existing bonds.

Significance of the Debt Exchange:This debt restructuring follows Sri Lanka's 2022 default and aims to restore access to international markets.

The restructuring could save Sri Lanka up to $9.5 billion in debt servicing costs over the IMF program's duration.

Detailed Explanation:

Sri Lanka is launching a debt exchange to swap $12.6 billion of its bonds for longer-dated notes as part of its dollar-denominated debt restructuring.

Investors can tender their holdings for new international bonds with a 27% haircut on the nominal amount of existing bonds.

Significance of the Debt Exchange:This debt restructuring follows Sri Lanka's 2022 default and aims to restore access to international markets.

The restructuring could save Sri Lanka up to $9.5 billion in debt servicing costs over the IMF program's duration.

IMF Bailout:Sri Lanka secured initial approval to receive the next tranche of a $3 billion IMF bailout.

The successful completion of the debt exchange is vital for continuing the IMF program and stabilizing the economy.

Bond Performance:Sri Lanka’s dollar bonds have gained nearly 28% in 2024, outperforming other emerging market bonds, but still trade at distressed levels (63-66 cents per dollar).

Tender Offer:The tender offer will expire on December 12, 2024, with the results to be announced four days later.

11) Answer: D

Short Explanation:

The Delhi government has introduced a pension scheme for senior citizens, offering monthly financial assistance to residents aged 60 and above.

Pension Amounts:

₹2,000 per month for individuals aged 60-69.

₹2,500 per month for individuals aged 70 and above.

SC/ST/Minority beneficiaries aged 60-69 will also receive ₹2,500 per month.

Detailed Explanation:

The Delhi government has introduced a pension scheme for senior citizens, offering monthly financial assistance to residents aged 60 and above.

Pension Amounts:

₹2,000 per month for individuals aged 60-69.

₹2,500 per month for individuals aged 70 and above.

SC/ST/Minority beneficiaries aged 60-69 will also receive ₹2,500 per month.

Extended Benefits for Differently-Abled: The government plans to extend pensions to differently-abled individuals, with a proposed monthly benefit of ₹5,000.

Eligibility Criteria:

Age: 60 years or older.

Residency: Must have resided in Delhi for at least five years.

Aadhaar: Must possess an Aadhaar card with a Delhi address.

Income: Annual family income must be under ₹1 lakh.

Bank Account: Must have a singly-operated bank account.

Exclusion: Must not be receiving any other pension or financial assistance from the central or state governments.

12) Answer: D

Short Explanation:

The Indian government has launched a fresh investigation into the financial and accounting practices of Byju's, once a beacon of India's edtech success.

This action follows an earlier review by the Ministry of Corporate Affairs (MCA) that highlighted lapses in corporate governance but found no conclusive evidence of financial misconduct.

The regional office in Hyderabad is tasked with examining Byju’sfinancial records.

Detailed Explanation:

The Indian government has launched a fresh investigation into the financial and accounting practices of Byju's, once a beacon of India's edtech success.

This action follows an earlier review by the Ministry of Corporate Affairs (MCA) that highlighted lapses in corporate governance but found no conclusive evidence of financial misconduct.

The regional office in Hyderabad is tasked with examining Byju’sfinancial records.

The focus is on identifying potential misrepresentation in financial statements or the misuse of funds.

The registrar has been given one year to complete the investigation and submit findings.

Irregularities flagged in the company’s accounts during earlier reviews.

Specifics of the irregularities remain undisclosed.

Once valued at $22 billion, Byju’s is now facing financial distress, with founder Byju Raveendran acknowledging the firm’s valuation has dropped to zero.

13) Answer: C

Short Explanation:

Dinesh Bhatia, an Indian Foreign Service (IFS) officer of the 1992 batch, has been appointed as India's next Ambassador to Brazil.

Bhatia is currently serving as India's Ambassador to Argentina, a position he has held since August 21, 2019.

Detailed Explanation:

Dinesh Bhatia, an Indian Foreign Service (IFS) officer of the 1992 batch, has been appointed as India's next Ambassador to Brazil.

Bhatia is currently serving as India's Ambassador to Argentina, a position he has held since August 21, 2019.

His accreditation also extended to Uruguay and Paraguay until February 2022.

Bhatia served as the Consul General of India in Toronto and as Ambassador to Cote d’Ivoire, Guinea, and Liberia.

He has held various positions in Indian missions abroad, including in Madrid, Kathmandu, and Kuwait.

He received training at the Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie, and the Foreign Service Institute, New Delhi.

He is an alumnus of the National Defence College (NDC) and participated in the 4th Joint Civil-Military Course on National Security at LBSNAA.

14) Answer: C

Short Explanation:

G Balasubramanian, a 1998 batch Indian Foreign Service (IFS) officer, has been appointed as the High Commissioner of India to the Maldives.

The announcement was made in an official statement by India’s Ministry of External Affairs.

He currently serves as India’s High Commissioner to Nigeria.

Detailed Explanation:

G Balasubramanian, a 1998 batch Indian Foreign Service (IFS) officer, has been appointed as the High Commissioner of India to the Maldives.

The announcement was made in an official statement by India’s Ministry of External Affairs.

He currently serves as India’s High Commissioner to Nigeria.

Balasubramanian will succeed MunuMahawar, who held the position since November 2021.

With a diplomatic career spanning several key postings, Balasubramanian has held significant roles in Moscow, Washington, and Bangkok.

Notably, he has served as India’s Deputy Chief of Mission and Deputy Permanent Representative to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

15) Answer: C

Short Explanation:

The Indian Coast Guard (ICG) is hosting the largest-ever National Maritime Search and Rescue Exercise (SAREX-24), which will take place in Kochi on November 28-29, 2024.

Objective: The exercise aims to enhance Search and Rescue (SAR) capabilities and strengthen regional collaboration in maritime safety.

Real-time simulations to improve the skills required for effective SAR operations.

Collaborative efforts between regional and international maritime stakeholders.

Detailed Explanation:

The Indian Coast Guard (ICG) is hosting the largest-ever National Maritime Search and Rescue Exercise (SAREX-24), which will take place in Kochi on November 28-29, 2024.

Objective: The exercise aims to enhance Search and Rescue (SAR) capabilities and strengthen regional collaboration in maritime safety.

Real-time simulations to improve the skills required for effective SAR operations.

Collaborative efforts between regional and international maritime stakeholders.

Participants: The exercise will include over 40 international observers from partner nations.

Significance:The event will enhance India's operational readiness in maritime safety.

It aims to strengthen SAR linkages with international and regional partners.

It reflects India's role in improving maritime safety coordination in the region.

Other Component: The event will also feature the 22nd National Maritime Search and Rescue (NMSAR) Board meeting, contributing to the strengthening of SAR operations.

16) Answer: C

Short Explanation:

The Competition Commission of India (CCI) approved Kotak Mahindra Bank Limited (KMBL) to acquire the standard unsecured personal loans portfolio of Standard Chartered Bank, India Branch.

The transaction involves a loan portfolio of approximately ₹4,100 crore (~$490 million) as of September 30, 2024.

Detailed Explanation:

The Competition Commission of India (CCI) approved Kotak Mahindra Bank Limited (KMBL) to acquire the standard unsecured personal loans portfolio of Standard Chartered Bank, India Branch.

The transaction involves a loan portfolio of approximately ₹4,100 crore (~$490 million) as of September 30, 2024.

The loans are categorised as Standard Loans as per the guidelines issued by the Reserve Bank of India (RBI).

Strategic Alignment:This acquisition aligns with KMBL's strategy to focus on scale, affluent customer segments, and customer-centric growth in the retail lending space.

Leadership:The acquisition reflects the strategic direction under Ashok Vaswani, Managing Director and CEO of KMBL since early 2024.

Historical Context:This marks the second significant transaction between a private sector bank and a foreign bank in recent years, following Axis Bank's acquisition of Citi India's consumer and wealth management business in 2022.

17) Answer: B

Short Explanation:

The Competition Commission of India (CCI) approved the acquisition of a stake in Flipkart by Shoreline International Holdings LLC, a wholly-owned subsidiary of Alphabet Inc. (Google's parent company).

DMI Finance Stake Acquisition:The CCI also approved the acquisition of an additional stake in DMI Finance Pvt Ltd by MUFG Bank Ltd.

Detailed Explanation:

The Competition Commission of India (CCI) approved the acquisition of a stake in Flipkart by Shoreline International Holdings LLC, a wholly-owned subsidiary of Alphabet Inc. (Google's parent company).

The transaction involves share subscription in Flipkart Pvt Ltd and an arrangement for certain services provided by an affiliate of Shoreline to Flipkart’s subsidiary.

Flipkart Overview:Flipkart is a subsidiary of Walmart Inc., primarily engaged in wholesale cash-and-carry of goods and marketplace-based e-commerce in India.

Walmart owns 85% of Flipkart, and Flipkart recently closed a funding round of about $1 billion, including a $350 million investment from Google.

Walmart also invested $600 million in the funding round, further solidifying its stake.

DMI Finance Stake Acquisition:The CCI also approved the acquisition of an additional stake in DMI Finance Pvt Ltd by MUFG Bank Ltd.

18) Answer: A

Short Explanation:

Meeshohas launched India’s first multilingual Gen AI-powered voice bot at scale for customer support.

Technological Framework:The bot uses advanced technologies like Gen AI, large language models (LLM), natural language processing (NLP), automatic speech recognition (ASR), and text-to-speech (TTS).

Detailed Explanation:

Meeshohas launched India’s first multilingual Gen AI-powered voice bot at scale for customer support.

The bot provides personalized, human-like assistance in multiple languages, catering to India’s cultural diversity.

Target Audience and Adaptability:The voice bot is designed with Meesho's predominantly Tier-II city user base in mind (80% of users).

It is optimized to perform on basic smartphones and in noisy environments, ensuring broad accessibility.

Intelligent Features:The voice bot includes an interruption-handling feature that distinguishes between casual affirmations and meaningful interruptions, ensuring smoother conversations.

It achieves a 10% higher customer satisfaction (CSAT) score compared to traditional support systems.

Usage and Efficiency:The voice bot currently handles 60,000 calls daily, providing quick and efficient resolutions.

It boasts a 95% resolution rate, significantly reducing the need for human intervention and improving average handle time (AHT) by 50%.

Technological Framework:The bot uses advanced technologies like Gen AI, large language models (LLM), natural language processing (NLP), automatic speech recognition (ASR), and text-to-speech (TTS).

19) Answer: B

Short Explanation:

Tata Consultancy Services (TCS) has extended its partnership with the Indian government’s System for Pension Administration – Raksha (SPARSH) for another three years.

The extension reinforces TCS’s critical role in transforming and managing the digital pension system for over 30 lakh defence pensioners, ensuring transparency, efficiency, and timely benefits.

Digital Transformation

Launched: October 2020 under TCS's leadership.

Objective: To digitize and centralize pension processing for defence personnel.

Detailed Explanation:

Tata Consultancy Services (TCS) has extended its partnership with the Indian government’s System for Pension Administration – Raksha (SPARSH) for another three years.

The extension reinforces TCS’s critical role in transforming and managing the digital pension system for over 30 lakh defence pensioners, ensuring transparency, efficiency, and timely benefits.

Digital Transformation

Launched: October 2020 under TCS's leadership.

Objective: To digitize and centralize pension processing for defence personnel.

Impact:

Processing timelines reduced from 12–18 months to 14 days.

First-time pension disbursements now completed in 5–7 days.

 Implementation of One Rank One Pension (OROP)

Ensures uniform pensions for personnel of the same rank and service length, regardless of retirement date.

OROP pensions for 1.8 million pensioners were processed in 15 days—a significant improvement over the previous 6–8 month timeline.

20) Answer: E

Short Explanation:

The Department for Promotion of Industry and Internal Trade (DPIIT) has entered a two-year collaboration with WinZO, a social gaming platform, to bolster India’s role in the $300 billion global gaming industry.

This partnership aims to empower startups, innovators, and students while fostering a vibrant ecosystem for interactive entertainment.

Detailed Explanation:

The Department for Promotion of Industry and Internal Trade (DPIIT) has entered a two-year collaboration with WinZO, a social gaming platform, to bolster India’s role in the $300 billion global gaming industry.

This partnership aims to empower startups, innovators, and students while fostering a vibrant ecosystem for interactive entertainment.

The collaboration seeks to nurture over 2,000 startups, innovators, and students through initiatives such as:

Mentorship programs

Workshops

Accelerator programs

Hackathons

Purpose:

Address talent gaps in the gaming sector.

Monetize Indian gaming assets.

Create "Made in India" intellectual property for export.

Impact:

Develop a skilled, industry-ready workforce.

Attract foreign direct investment (FDI).

Market Growth: India’s gaming market grew 23% year-on-year in 2023-24, with revenue reaching $3.8 billion, despite a 28% GST on online gaming.