Current Affairs Quiz:31 July 2024

AffairsCloud brings you the complete and important daily Current Affairs Quiz 31 July 2024 to achieve more marks in Banking, Insurance, UPSC, SSC, CLAT, Railways and all other competitive Exams. We have prepared the current affairs quiz question from our daily current affairs 2024 updates.

Our Current Affairs July 2024 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.

Click here for Current Affairs 31 July 2024

1. Recently, the Union Ministry of Education (MoE) celebrated the ______ anniversary of the National Education Policy (NEP) 2020 with a week-long campaign “Shiksha Saptah” from July 22-28, 2024.
   1) 9th
   2) 5th
   3) 4th
   4) 8th
   5) 10th
   
   Answer & Explanation

   Answer-3) 4th
   Explanation:
   On 29th July 2024, the Ministry of Education (MoE), Government of India (GoI) celebrated the 4th anniversary of the National Education Policy (NEP) 2020 with week-long campaign “Shiksha Saptah” from July 22-28, 2024, along with Akhil Bharitya Shiksha Samagam (ABSS) 2024 at Manekshaw Centre Auditorium in New Delhi, Delhi.
   i.The campaign has 7 different themes for 7 days in order to celebrate the 4th anniversary of NEP 2020
   ii.As part of the campaign, the DoSEL has outlined various activities for schools. Under this campaign, schools will enroll themselves to the Vidyanjali
   iii.ABSS 2024 was conceptualized to celebrate the adoption of NEP 2020 to stimulate the commitment of various stakeholders for it effective implementation and to support the collective strength for achievement of shared goals through collaborative efforts.Click here to read more
   
   
   
2. In July 2024, Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC), launched _____________________for inviting ideas related to products and services that encourage environmentally friendly lifestyles.
   1) Innovations for You
   2) Startup Mahotsav
   3) 100 Cube
   4) Ideas4LiFE
   5) HaRBInger
   
   Answer & Explanation

   Answer-4) Ideas4LiFE
   Explanation:
   On July 29, 2024, Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC) launched the ‘Ideas4LiFE’ initiative at the Indian Institute of Technology (IIT) – Delhi in New Delhi, Delhi.
    This initiative, is hosted on the portal Ideas4Life.nic.in, allows participants to submit their ideas and innovations online, focusing on products and services that encourage environmentally friendly lifestyles.
    This portal has been developed by MoEF&CC, in collaboration with United Nations Children’s Fund(UNICEF) YuWaah for submitting, managing, and processing innovative ideas.
    Aim: To inspire students, faculty, and research scholars to contribute citizen-centric innovative ideas/technologies to the global Mission LiFE (Lifestyle for Environment)
   
   
   
3. What is the denomination value of the commemorative postage stamp released by the Department of Posts to mark the 25th anniversary of Kargil Vijay Diwas?
   1) Rs 10
   2) Rs 20
   3) Rs 5
   4) Rs 100
   5) Rs 50
   
   Answer & Explanation

   Answer-3) Rs 5
   Explanation:
   The Department of Posts (DoP) under the Ministry of Communications(MoC) has released the commemorative postage stamp of Denomination Rs 5 to mark the Silver Jubilee (25th anniversary) of Kargil Vijay Diwas, at Dras, Kargil in Ladakh.
   i.The Rajat Jayanti of Kargil Vijay Diwas was observed, paying tribute to the bravery and sacrifices of the Indian Armed Forces.
   ii.On this day, 25 years ago, During Operation Vijay (1999), the Indian Armed Forces carried out, evicting Pakistani invaders from the icy heights of the Dras, Kargil, and Batalik Sectors of Ladakh with great courage and spirit
   
   
   
4. Name the Artificial Intelligence (AI)-based chatbot that was recently (in July ‘24) launched by the Securities & Exchange Board of India (SEBI) for investors.
   1) PM Shri Paryatan Vayu Seva
   2) PRAGATI
   3) SEVA
   4) Sesame
   5) Chitti
   
   Answer & Explanation

   Answer-3) SEVA
   Explanation:
   On July 29, 2024, the Securities and Exchange Board of India (SEBI) has unveiled an Artificial Intelligence (AI)-based chatbot named SEVA (Sebi’s Virtual Assistant) to assist investors in accessing information and responses on various processes. This chatbot currently provides answers regarding the securities market, master circulars, and grievance redressal procedures, with plans for expansion based on user feedback.
   i.SEVA, in its beta version, features citation support for responses, speech-to-text, text-to-speech functionalities, and can handle follow-up questions.
   ii.The beta version of SEVA is accessible on SEBI’s investor website and the SAARTHI mobile app, available for both Android and iOS platforms.
   
   
   
5. Which company has recently (in July ‘24) received approval from the Reserve Bank of India (RBI) to enter the asset reconstruction (ARC) business during the financial year 2024-2025 (FY25)?
   1) Edelweiss Asset Reconstruction Company Limited
   2) Hitachi Payment Services Pvt. Ltd
   3) Bajaj Finserv Asset Management Limited
   4) Shriram Group
   5) Cholamandalam Investment & Finance Company Limited
   
   Answer & Explanation

   Answer-4) Shriram Group
   Explanation:
   Chennai, Tamil Nadu (TN)-based Shriram Group has obtained approval from the Reserve Bank of India (RBI) to enter the Asset Reconstruction (ARC) sector in the financial year 2024-2025 (FY25).
    Shriram Credit, a subsidiary of Shriram Capital Limited (SCL), will oversee the wealth management aspect which will have collaboration with multiple partners, while, SCL will directly manage ARC operations.
    Shriram Finance Limited (SFL), India’s largest retail non-banking financial company (NBFC), projects a 15% growth in Assets Under Management (AUM) for FY25.
   
   
   
6. Which country has recently (in July ‘24) won the Women’s Twenty20 (T20) Asia Cup title 2024?
   1) Afghanistan
   2) Pakistan
   3) India
   4) Bangladesh
   5) Sri Lanka
   
   Answer & Explanation

   Answer-5) Sri Lanka
   Explanation:
   Sri Lankan Women’s cricket team captained by Chamari Athapaththu won their first Women’s Twenty20 (T20) Asia Cup title by defeating the Indian women’s cricket team captained by Harmanpreet Kaur, by 8 wickets in the finals of the Women’s T20 Asia Cup 2024 held at the Rangiri Dambulla International Stadium in Dambulla, Sri Lanka. This marks the first title of Sri Lanka
    Women’s T20 Asia Cup 2024, the 9th edition of the tournament, was held from 19th to 28th July 2024 in Dambulla, Sri Lanka.
    The tournament winners will get a prize of USD 20000 (Rs.16.48 lakhs) while the runners-up will get a prize of USD 12,500 (Rs.10.30 Lakhs).Click here to read more
   
   
   
7. When was the United Nations (UN) World Day Against Trafficking in Persons annually observed across the globe?
   1) May 8
   2) July 30
   3) April 24
   4) June 19
   5) March 21
   
   Answer & Explanation

   Answer-2) July 30
   Explanation:
   The United Nations (UN) World Day Against Trafficking in Persons is annually observed across the globe on July 30 to raise awareness about the situation of human trafficking victims and to promote and protect their rights.
   i.2024 marks the 10th anniversary of World Day Against Trafficking in Persons and it is crucial to address the shortcomings and accelerate action to #EndHumanTrafficking.
   ii.The 2024 theme of World Day Against Trafficking in Persons is ‘Leave No Child Behind in the Fight Against Human Trafficking’.
   ii.The first-ever World Day Against Trafficking in Persons was observed on July 30, 2014.
   
   
   
8. With which bank did ICICI Lombard General Insurance Company Limited recently (in July’24) sign a bancassurance agreement to offer its insurance products?
   1) HDFC Bank
   2) Karnataka Bank
   3) Bank of India
   4) Bank of Maharashtra
   5) Indian Bank
   
   Answer & Explanation

   Answer-2) Karnataka Bank
   Explanation:
   ICICI Lombard General Insurance Company Limited (ICIL), Mumbai(Maharashtra) has announced a Strategic Bancassurance Partnership with Karnataka Bank Limited (KBL) to offer ICICI Lombard’s insurance products to Karnataka Bank customers.
   i.The ICICI Lombard’s insurance products will now be available across Karnataka Bank’s 915 branches, reaching over 13 million customers nationwide.
   ii.It is designed to provide long-term financial security, underscoring both entities’ commitment to excellence through innovation and reliability.
   
   
   
9. Which bank has collaborated with NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) to launch “ACE Banker Program”?
   1) Axis Bank
   2) Yes Bank
   3) HDFC Bank
   4) Jammu & Kashmir Bank
   5) Punjab National Bank
   
   Answer & Explanation

   Answer-3) HDFC Bank
   Explanation:
   Gurgaon (Haryana) based NIIT Institute of Finance, Banking and Insurance (NIIT IFBI), a subsidiary of National Institute of Information Technology (NIIT) has announced the launch of the ‘ACE Banker Program’ in collaboration with HDFC Bank Limited.
   i.This program is designed to address the changing needs of the banking sector by equipping participants with the necessary skills and knowledge to excel in customer service roles at HDFC Bank.
   ii.It is a critical part of NIIT’s Talent Pipeline as a Service (TPaaS) initiative which aims to recruit and train customer service professionals for HDFC Bank.
   
   
   
10. Which organization in its Monthly Economic Review (MER) for July 2024, projected that India’s GDP is likely to grow in the range of 7% to 7.5% in FY25 (2024–25)?
    1) National Council of Applied Economic Research
    2) National Statistical Office
    3) National Institute of Public Finance and Policy
    4) United Nations Conference on Trade and Development
    5) International Monetary Fund
    
    Answer & Explanation

    Answer-1) National Council of Applied Economic Research
    Explanation:
    The National Council of Applied Economic Research (NCAER) in its Monthly Economic Review (MER) July 2024 report released on 29th July 2024, projected that India’s Gross Domestic Product (GDP) is likely to grow in the range of  7% to 7.5% in FY25 (2024-25).
     This projection is based on a normal monsoon and the momentum in high frequency indicators such as: bank credit growth as key factors amid signs of receding global shocks.
     As per Economic Survey 2023-24, India’s real GDP increased by 8.2% in FY24 (2023-24). This growth is mainly driven by stable consumption demand and gradual improvement in investment demand.
     The NCAER-National Stock Exchange (NSE), Business Confidence Index (BCI) increased from 138.2 in the 4th quarter (Q4) of FY24 to 149.8 in the 1st quarter (Q1) of FY25.
     The Consumer Price Index (CPI) headline inflation or retail inflation increased from 4.8% in May 2024 to 5.1% in June 2024.