Current Affairs Quiz: 10 January 2024

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1. Which of the following points is “Incorrect” with respect to the cabinet approval on 5th January 2024?
   1) The union cabinet has approved the overarching scheme “PRITHvi Vigyan (PRITHVI)” of Ministry of Earth Sciences with a total outlay of Rs 4,797 crore.
   2) The Union Cabinet appraised the MoU signed between the Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) for cooperation on the development of a Joint Small Satellite.
   3) Cabinet approved the MoU signed between Indian Railways(IR), the Government of India and the United States for International Development / India (USAID/India) to support IR to achieve Net Zero Carbon Emission by 2030.
   4) The proposal was approved to declare Uttar Pradesh’s Ayodhya Airport as an International Airport and name it “Maharishi Valmiki International Airport, Ayodhyadham”.
   5) The Cabinet approved the MoU signed between the Ministry of Petroleum & Natural Gas(MoPNG), GoI and the Ministry of Natural Resources, United Arab Emirates (UAE) on cooperation in the hydrocarbon sector.
   

   Answer & Explanation

   Answer-5) The Cabinet approved the MoU signed between the Ministry of Petroleum & Natural Gas(MoPNG), GoI and the Ministry of Natural Resources, United Arab Emirates (UAE) on cooperation in the hydrocarbon sector.
   Explanation:
   The Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the following proposals on 5th January 2024,
    The union cabinet chaired by PM Modi has approved the overarching scheme “PRITHvi Vigyan (PRITHVI)” of MoES with a total outlay of Rs 4,797 crore. The scheme will be implemented during the period from 2021 to 2026.
    The Union Cabinet appraised the Memorandum of Understanding (MoU) signed between the Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) for cooperation on the development of a Joint Small Satellite.
    The Union Cabinet approved the MoU signed between Indian Railways(IR), the Government of India and the United States Agency for International Development / India (USAID/India) on 14th June 2023 to support IR to achieve Net Zero Carbon Emission by 2030.
    The Union Cabinet chaired by PM Modi has approved the proposal to declare Uttar Pradesh’s Ayodhya Airport as an International Airport and name it “Maharishi Valmiki International Airport, Ayodhyadham”.
    The Union Cabinet approved the MoU signed between the Ministry of Petroleum & Natural Gas(MoPNG), Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in the hydrocarbon sector.
    The MoU is signed for 5 years and can be automatically renewed on a quinquennium basis.
   
   
   
2. As per the report ‘MSMEs: Unleashing the Engines of Economic Prosperity’, prepared by CBRE India Research in January 2024, __________ (state) has accounted for the highest share (17%) of Micro, Small, and Medium Enterprises (MSMEs) in India.
   1) Odisha
   2) Gujarat
   3) Madhya Pradesh
   4) Maharashtra
   5) Karnataka
   

   Answer & Explanation

   Answer-4) Maharashtra
   Explanation:
   According to a report titled MSMEs: Unleashing the Engines of Economic Prosperity, prepared by CBRE India Research, Maharashtra has accounted for the highest share (17%) of Micro, Small, and Medium Enterprises (MSMEs) in India followed by Tamil Nadu (TN) (10%) and Uttar Pradesh (UP) (9%).
    The report was unveiled during the CREDAI National New India Summit 2024 (5th edition) held in Varanasi, UP from 7th to 9th January 2024.
    CBRE India Research is the knowledge partner of the New India Summit 2024.
   i. The MSME sector plays a vital component in the economic progress of India, contributing nearly 30% to India’s Gross Domestic Product (GDP), and about 44% of Exports in India.
    UP in particular has a 90-lakh MSME base and contributes around 14% share of India’s total MSMEs.
   
   
   
3. As per the State Bank of India (SBI) Economic Research Department (ERD) released a report ‘SBI Research: Debunking K-shaped recovery’ in January 2024, the individual income inequality in India has declined from 0.472 to __________ during 2013–2014 (FY14) to 2021–2022 (FY22).
   1) 0.329
   2) 0.402
   3) 0.392
   4) 0.400
   5) 0.385
   

   Answer & Explanation

   Answer-2) 0.402
   Explanation:
   On January 8, 2023, the State Bank of India (SBI) Economic Research Department (ERD) released a report titled ‘SBI Research: Debunking K-shaped recovery‘ which stated that individual income inequality in India has declined during 2013–2014(FY14) to 2021–2022(FY22).
    The Gini coefficient of taxable income, which captured income inequality, dropped from 0.472 to 0.402 during this period.
    36.3% taxpayers moved to higher income groups, leading to a 21.3% income increase.
    Top 2.5% taxpayers’ share dropped from 2.81% to 2.28% (2014–2021).
    Taxpayers earning Rs 5-10 lakh increased by 295% (Assessment Years AY 2013–14 to AY 2021–22).
    Income disparity of people earning less than 3.5 lakh decreased from 31.8% to 15.8%.
   
   
   
4. In January 2024, the Reserve Bank of India (RBI) increased the minimum capital requirement for Small Finance Banks (SFBs) from Rs 100 crore to Rs __________, and permitted Payments Banks to upgrade as SFBs.
   1) 600 crore
   2) 400 crore
   3) 200 crore
   4) 300 crore
   5) 500 crore
   

   Answer & Explanation

   Answer-3) 200 crore
   Explanation:
   On January 8, 2024, the Reserve Bank of India (RBI) increased the minimum capital requirement for Small Finance Banks (SFBs) from Rs 100 crore to Rs 200 crore, and permitted Payments Banks to upgrade as SFBs.
    The reason behind this is to improve the financial resilience of SFBs and ensure their long-term sustainability.
    It is noted that the net worth of all operational SFBs is in excess of Rs 200 crore.
   i. Urban Co-operative Banks (UCBs) transitioning to Small Finance Banks (SFBs) need an initial net worth of Rs 100 crore, to be increased to Rs 200 crore within five years.
   ii. Payments Banks, eligible as per guidelines, can apply for SFB conversion after five years of operation.
   
   
   
5. Which of the following points is/are “correct” with respect to the 81st edition of Golden Globe Awards (2024) presented in January 2024?
   A) Five-time Oscar nominee Christopher Nolan’s film “Oppenheimer” won the 5 awards in  81st Golden Globe Awards under the categories Best Film in Drama, Best Actor in Drama, Best Supporting Actor and for best original score.
   B) Lily Gladstone won best female actor in Drama for Martin Scorsese’s Killers of the Flower Moon.
   C) Succession won the Golden Globe Award under the Best Television Series-Drama Category.
   1) Only A
   2) Only A & B
   3) Only B & C
   4) Only A & C
   5) All A, B & C
   

   Answer & Explanation

   Answer-5) All A, B & C
   Explanation:
   The 81st edition of Golden Globe Awards (2024) held on 8th January, 2024 at the Beverly Hilton in Beverly Hills, California, United States of America (U.S.A.).
    The Golden Globe Awards are held annually and are presented by Hollywood Foreign Press Association (HFPA).
    American Actor and Comedian, Joseph Glenn Herbert Sr. also known as Jo Koy hosted the 2024 award ceremony.
   i. Five-time Oscar nominee Christopher Nolan’s film “Oppenheimer” steals the entire spotlight at 81st Golden Globe Awards by securing 5 awards in coveted categories such as: Best Film in Drama, Best Actor in Drama, Best Supporting Actor and for best original score by Ludwig Goranson.
    Christopher Nolan won his career 1st Golden Globe Award for Best Director for his film “Oppenheimer”. Though, he was nominated for Golden Globe 6 times.
   ii. Cillian Murphy won the Golden Globe for best male actor in Drama for his role as the father of the atomic bomb ”J. Robert Oppenheimer” in Oppenheimer.
   iii. Lily Gladstone won best female actor in Drama for Martin Scorsese’s Killers of the Flower Moon.
   iv. After Oppenheimer, Succession (T.V. Series in Drama) stood out at 81st Golden Globe Awards by winning 4 awards- Best Performance by a Male Actor in a Television Series – Drama, Best Performance by a Female Actor in a Television Series – Drama, Best Performance by a Male Actor in a Supporting Role on Television and Best Television Series-Drama.
    Succession won the Golden Globe Award under the Best Television Series-Drama Category.
   
   
   
6. Who has recently (in Jan ‘24) nominated as the Chairman of the Supreme Court Legal Services Committee (SCLSC)?
   1) Venugopala Gowda
   2) Sanjiv Khanna
   3) Bhushan Ramakrishna Gavai
   4) Sanjay Kishan Kaul
   5) Amarjit Singh Chandhiok
   

   Answer & Explanation

   Answer-3) Bhushan Ramakrishna Gavai
   Explanation:
   The National Legal Services Authority (NALSA) has nominated Justice Bhushan Ramakrishna (BR) Gavai, a judge of the Supreme Court of India, as the Chairman of the Supreme Court Legal Services Committee (SCLSC).
    He succeeds Justice Sanjiv Khanna, the senior most puisne judge of the Supreme court.
   Note: The Department of Justice, under the Ministry of Law & Justice, issued the notification to this effect on 29th December 2023.
   i. The President of India, Droupadi Murmu, in exercise of the powers conferred under Clause (b) of sub-section (2) of Section 3 of the Legal Services Authorities Act, 1987 has nominated Justice Sanjiv Khanna as the Executive Chairperson of NALSA with effect from 26th December 2023.
    He succeeded Justice Sanjay Kishan Kaul, who retired on 25th December 2023.
   
   
   
7. As of January 2024, Brookfield Asset Management (BAM) through its affiliate Data Infrastructure Trust (DIT) is set to fully acquire the Indian unit of American Tower Corporation (ATC) for an enterprise value of around USD ____________.
   1) 2.5 Billion
   2) 3.1 Billion
   3) 2.9 Billion
   4) 2.0 Billion
   5) 3.2 Billion
   

   Answer & Explanation

   Answer-1) 2.5 Billion
   Explanation:
   Canada-based Brookfield Asset Management(BAM) through its affiliate Data Infrastructure Trust(DIT) is set to fully acquire the Indian unit of American Tower Corporation (ATC) for an enterprise value of around USD 2.5 Billion.
    The transaction is subject to regulatory approvals and expected to close in the second half of 2024.
    Following the acquisition, Brookfield will become India’s largest tower company with 2.53 lakh towers.
    Reliance Jio Infocomm Limited (RJIL) is the anchor client of Brookfield whereas Vodafone Idea Limited (VI) is the anchor client of ATC.
   
   
   
8. In January 2024, the National Aeronautics and Space Administration (NASA) launched five payloads to soft land on the Moon’s surface aboard ____________ (Mission) through United Launch Alliance (ULA)’s Vulcan Centaur Launch Vehicle (VC2S) from Cape Canaveral, Florida, United States of America (USA).
   1) Able 5A (Pioneer P-30)
   2) Akatsuki Mission One
   3) Concordia Mission One (TO2-AB)
   4) ARIEL mission One
   5) Peregrine Mission One (PM1) (TO2-AB)
   

   Answer & Explanation

   Answer-5) Peregrine Mission One (PM1) (TO2-AB)
   Explanation:
   On 08th January 2024, the National Aeronautics and Space Administration (NASA) launched five payloads to soft land on the Moon’s surface aboard Peregrine Mission One (PM1) (TO2-AB). The mission was launched through United Launch Alliance (ULA)’s Vulcan Centaur Launch Vehicle (VC2S) from Cape Canaveral, Florida, United States of America (USA).
    This is the first launch of NASA under the Commercial Lunar Payload Services(CLPS) Initiative. PM1 is the first commercial mission of Astrobotic Technology to land on another planetary body.
    Sharad Bhaskaran, who is of Indian origin, is the mission director.
   i. The five payloads of the mission are:
    Laser Retro-Reflector Array (LRA) – function as a permanent location marker on the Moon.
    Linear Energy Transfer Spectrometer (LETS) – demonstrates the capabilities of the radiation monitors on the lunar surface.
    Near-Infrared Volatile Spectrometer System (NIRVSS) – Studies lunar soil composition and finds hidden minerals and volatiles.
    Peregrine Ion-Trap Mass Spectrometer (PITMS) – analyses thin lunar atmosphere and studies escaping gases & molecules.
    Neutron Spectrometer System (NSS) – detects potential water present in the lunar soil.
   Note- This is the first lunar mission of NASA after the launch of Apollo 17 in 1972.
   
   
   
9. When was the Earth’s Rotation Day 2024 observed across the globe?
   1) 5th January 2024
   2) 8th January 2024
   3) 6th January 2024
   4) 9th January 2024
   5) 7th January 2024
   

   Answer & Explanation

   Answer-2) 8th January 2024
   Explanation:
   Earth’s Rotation Day is annually observed across the globe on 8 January to highlight the significance of Earth’s rotational motion. It commemorates the anniversary of the scientific demonstration of Earth’s rotation by the French physicist Léon Foucault in 1851.
    Earth’s Rotation Day 2024 observed on 8th January 2024 commemorates the 173rd anniversary of Léon Foucault‘s demonstration.
   i. Basics of Earth’s Rotation:
    The spinning of the Earth around its axis is called ‘rotation.’ Earth completes a full rotation on its axis every 23 hours and 56 minutes, which is rounded up to 24 hours.
    This rotation around its axis is known as one Earth Day and this rotation is responsible for day and night cycles.
    Earth rotates on its axis from West to East, and the Sun and Moon appear to move from East to West across the sky.
   
   
   
10. In which city, the International Kite Festival 2024 was inaugurated in January 2024?
    1) Kolkata, West Bengal
    2) Chennai, Tamil Nadu
    3) Chandipur, Odisha
    4) Mumbai, Maharashtra
    5) Ahmedabad, Gujarat
    

    Answer & Explanation

    Answer-5) Ahmedabad, Gujarat
    Explanation:
    Chief Minister(CM) of Gujarat, Bhupendrabhai Patel has inaugurated the International Kite Festival 2024 at Sabarmati Riverfront, Vallabh Sadan in Ahmedabad, Gujarat.
    i. The festival will be held from 7th to 14th January 2024 in Ahmedabad.
    ii. The festival marks the days in the Hindu calendar when winter begins turning to summer, known as Makar Sankranti or Uttarayan.
    iii. The festival features over 153 international kite flyers from 55 countries, 68 national kite flyers from 12 states, and 865 kite enthusiasts from 23 cities in Gujarat.
    Note: Since 1989, the city of Ahmedabad has hosted the International Kite Festival as part of the official celebration of uttarayan.