Current Affairs Quiz:1 August 2024

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1. With which organisation did the Ministry of Defence recently (in July ‘24) sign a MoU to facilitate capital market access to Micro, Small and Medium Enterprises (MSMEs)?
   1) Bombay Stock Exchange (BSE)
   2) Securities and Exchange Board of India (SEBI)
   3) Reserve Bank of India (RBI)
   4) National Stock Exchange (NSE)
   5) Small Industries Development Bank of India (SIDBI)
   
   Answer & Explanation

   Answer-4) National Stock Exchange (NSE)
   Explanation:
   On 29th July 2024, the Defence Acquisition Council (DAC), under the chairmanship of Union Minister Rajnath Singh, Ministry of Defence (MoD), Government of India (GoI) has approved various capital acquisition proposals to enhance the capabilities of the Indian Army(IA) and the Indian Coast Guard (ICG).
   i.The DAC has accorded Acceptance of Necessity (AoN) for the procurement of the Advanced Land Navigation System (ALNS) for Armoured Fighting Vehicles (AFVs) for Indian Army and 22 Interceptor Boats for Indian Coast Guard (ICG).
   ii.The Defence Acquisition Council (DAC) under the chairmanship of Rajnath Singh has reviewed and approved the amendments to the deal for 31 MQ-9B, High Altitude Long Endurance (HALE) Unmanned Vehicles (UAVs) from General Atomics Aeronautical Systems, Inc. (GA-ASI) of the United States of America (USA).
   iii.The Ministry of Defence (MoD) signed a Memorandum of Understanding (MoU) with National Stock Exchange (NSE) to facilitate capital market access to Micro, Small and Medium Enterprises (MSMEs). Click here to read more
   
   
   
2. Recently, the Ministry of Earth Sciences (MoES) celebrated its 18th Foundation Day on __________________ at its headquarters in Prithvi Bhavan, New Delhi.
   1) 5th June 2024
   2) 1st May 2024
   3) 27th July 2024
   4) 19th April 2024
   5) 25th March 2024
   
   Answer & Explanation

   Answer-3) 27th July 2024
   Explanation:
   The Ministry of Earth Sciences (MoES) celebrated its 18th Foundation Day on 27th July, 2024 at its headquarters in Prithvi Bhavan, New Delhi, marking nearly 20 years of significant contributions made by MoES across all earth system sciences such as: air(atmosphere), water (hydrosphere), land (lithosphere), solid earth(cryosphere), life (biosphere) and their interactions, shows its commitment towards scientific and technological progress.
    The Department of Ocean Development (DOD), was created in July 1981 as a part of the Cabinet Secretariat directly under the charge of the Prime Minister(PM) of India. It came into existence as a separate department in March 1982.
    In February 2006, the government of Inida notified DOD as the Ministry of Ocean Development.
    In July 2006, the Ministry of Ocean Development was reorganized as Ministry of Earth Sciences (MoES) through the Presidential notification.
    The MoES launched 4 important publications for public utility and benefit on the occasion of its 18th Foundation Day.
   
   
   
3. With which organisation did the Innovations for Defence Excellence-Defence Innovation Organisation (iDEX-DIO) recently (in July ‘24) sign a MoU for the launch of Medical Innovations and Research Advancement (MIRA)?
   1) Defence Research and Development Organisation
   2)  National Medical Commission
   3) Atal Innovation Mission
   4) Central Armed Police Forces Institute of Medical Sciences
   5) Armed Forces Medical Services
   
   Answer & Explanation

   Answer-5) Armed Forces Medical Services 
   Explanation:
   On July 30, 2024, The Innovations for Defence Excellence-Defence Innovation Organisation (iDEX-DIO), the flagship initiative of Ministry of Defence (MoD) has signed Memorandum of Understanding (MoU) with the Armed Forces Medical Services (AFMS) for the launch of Medical Innovations and Research Advancement (MIRA).
     The MoU aims to promote innovation and research in developing novel medical technologies and their integration into the Armed Forces.
    The initiative will be driven forward by the launch of the Defence India Start-up Challenge (DISC) edition MIRA, addressing the critical medical challenges faced by the Armed Forces.
    iDEX was established by the DIO under the Department of Defence Production (DDP), launched in 2018 with an objective to provide the platform of co-creation and co-development in the defence sector.
   
   
   
4. The Ministry of Power has recently (in July 24) inaugurated the National Feeder Monitoring System (NFMS) Control Centre on REC Limited’s 55th Foundation Day at ____________.
   1) Bengaluru, Karnataka
   2) Gurugram, Haryana
   3) Pune, Maharashtra
   4) Jhakri, Himachal Pradesh
   5) Mumbai, Maharashtra
   
   Answer & Explanation

   Answer-2) Gurugram, Haryana
   Explanation:
   On July 25 2024, Union Minister Manohar Lal, Ministry of Power (MOP) and Ministry of Housing and Urban Affairs (MoHUA) inaugurated the National Feeder Monitoring System (NFMS) Control Centre on REC Limited’s 55th Foundation Day at Gurugram, Haryana.
   i.NFMS is a flagship initiative of the MoP, provides real-time access to complete information on power supply hours, outages, and overall health of about 2.5 lakh feeders (11 Kilovolts (KV) outgoing) across India.
   ii.It will allow stakeholders to make informed and actionable decisions, increasing transparency, efficiency, and accountability in Distribution Companies (DISCOMS), ultimately enhancing the quality and reliability of power supply to end users.
   
   
   
5. In July 2024, the Ministry of State for Skill Development and Entrepreneurship launched an enhanced ‘Model Skill Loan Scheme’  with an increased maximum loan limit to __________ from Rs 1.5 lakh.
   1) Rs 8 lakh
   2) Rs 29.6 lakh
   3) Rs 7.5 lakh
   4) Rs 5 lakh
   5) Rs  17.4  lakh
   
   Answer & Explanation

   Answer-3) Rs 7.5 lakh
   Explanation:
   Union Minister of State(MoS) Jayant Chaudhary(Independent Charge/IC), Ministry of State for Skill Development and Entrepreneurship(MSDE) has launched an enhanced ‘Model Skill Loan Scheme’ for skill development courses with an increased maximum loan limit to Rs 7.5 lakh from Rs 1.5 lakh.
    It was announced in the Union Budget 2024-2025, the revised scheme aims to benefit 25,000 students annually.
    Aim: To bridge that gap by ensuring that ambitious candidates receive the financial support they require to pursue their skill training.
    Model Skill Loan Scheme builds upon the Credit Guarantee Fund Scheme for Skill Development (CGFSSD), launched in 2015 faced multiple challenges.
   
   
   
6. Which bank has recently (in July ‘24) signed a USD 200 million loan agreement with the Government of India (GoI) to enhance solid waste management and sanitation in 100 cities across 8 states in India?
   1) National Bank for Agriculture and Rural Development (NABARD)
   2) Reserve Bank of India (RBI)
   3) International Finance Corporation (IFC)
   4) Asian Development Bank (ADB)
   5) Japan International Cooperation Agency (JICA)
   
   Answer & Explanation

   Answer-4) Asian Development Bank (ADB)
   Explanation:
   The Government of India (GoI) has signed a USD 200 million loan agreement with Asian Development Bank (ADB) to enhance solid waste management and sanitation in 100 cities across 8 states in India.
    The loan agreement is part of the Swachh Bharat Mission(SBM) 2.0 – Comprehensive Municipal Waste Management in Indian Cities Program.
    This loan arrangement will support the  objectives of Swacch Bharat (Clean India) Mission- Urban 2.0, is an initiative led by GoI which aims to make all Indian cities to be garbage free by 2026, by enhancing sanitation and solid waste management infrastructure including waste segregation, collection and disposal.
   
   
   
7. Which organisation reported the increase in the Digital Payments Index (RBI-DPI) to 445.5 at the end of March 2024, reflecting a 12.6% year-on-year growth?
   1) Reserve Bank of India
   2) Mirae Asset Investment Managers (India) Pvt. Ltd
   3) NSE Indices Limited
   4) MSCI Inc
   5) International Financial Services Centres Authority
   
   Answer & Explanation

   Answer-1) Reserve Bank of India
   Explanation:
   The Reserve Bank of India (RBI)’s Digital Payments Index (RBI-DPI) increased to 445.5 at the end of March 2024, marking a 12.6% Year-on-Year (Y-o-Y) increase compared to March 2023 across all parameters. It was 418.77 in September 2023 and 395.57 in March 2023.
    RBI-DPI measures the adoption and extent of online transactions across India.
    The current showcases a continuous rise in digital payment adoption.
    The RBI introduced the RBI-DPI in January 2021, with March 2018 as the base year, to estimate the digitization of payments across India.
   
   
   
8. Which organisation has recently(in July 2024) achieved the unicorn status after it raised around USD120 million?
   1) CRED
   2) Zepto
   3) Rapido
   4) Dunzo
   5) Physics Wallah
   
   Answer & Explanation

   Answer-3) Rapido
   Explanation:
   Bengaluru (Karnataka)-based Ride-haling startup, Rapido, has achieved unicorn status after it raised a capital funding of USD 120 million (Rs 1,000 crore) in its latest Series E funding round led by its major investor WestBridge Capital (26% stake), which has invested money through 3 different investment vehicles.
    This makes Rapido the fourth startup in India to reach unicorn status in 2024 after Krutrim, Perfois and Porter.
    A unicorn is a term used to describe privately owned startups or companies whose valuation is over USD 1 billion.
   
   
   
9. Which institute has been recently (in July ‘24) granted Special Consultative Status by the United Nations Economic and Social Council (UN ECOSOC)?
   1) Guru Gobind Singh Indraprastha University, Delhi
   2) Amrita Vishwa Vidyapeetham, Tamil Nadu
   3) Jawaharlal Nehru University, New Delhi
   4) Kalinga Institute of Industrial Technology, Odisha
   5) Jadavpur University, West Bengal
   
   Answer & Explanation

   Answer-4) Kalinga Institute of Industrial Technology, Odisha
   Explanation:
   Bhubaneswar, Odisha-based Kalinga Institute of Industrial Technology (KIIT) Deemed to be a University (DU) has been granted Special Consultative Status by the United Nations Economic and Social Council (UN ECOSOC). This acknowledgment highlights KIIT’s dedication to the Sustainable Development Goals (SDGs), and UN’s Agenda 2030.
    This acknowledgement was made during the UN ECOSOC Management Segment Meeting held on July 23, 2024, at the UN Headquarters in New York, the United States of America (USA).
    This status allows engagement with ECOSOC, its subsidiary bodies, UN human rights mechanisms, small arms processes, and special events by the General Assembly President.
    KIIT has signed a MoU with UN Volunteers (UNV), offering students opportunities to work with various UN agencies.
    Under this, students from KIIT DU can serve as ‘National University UN Volunteers’ in numerous development initiatives within UN agencies.
   
   
   
10. The United Nations (UN)’s International Day of Friendship or World Friendship Day is annually observed across the globe on_____________ to honour the friendship.
    1) July 30
    2) May 30
    3) April 30
    4) May 25
    5) June 25
    
    Answer & Explanation

    Answer-1) July 30
    Explanation:
    The United Nations (UN)’s International Day of Friendship or World Friendship Day is annually observed across the globe on July 30 to honour the friendship.
     The day honours the enduring bonds of friendship with various activities, despite the different dates observed around the world.
     2024 marks the 13th anniversary of International Friendship Day.
     The first-ever International Friendship Day was observed in 2011.
     In India, Friendship Day is celebrated on First Sunday in the month of August.Click here to read more