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- Which of the following points is/are “correct” with respect to the report “Logistics Cost in India: Assessment and Long-Term Framework” released in December 2023?
A) The Logistics Division of the Department for Promotion of Industry and Internal Trade (DPIIT) launched a report which was prepared by the National Council of Applied Economic Research (NCAER), along with Asian Development Bank (ADB) experts and task force members.
B) India’s logistic costs ranged between 7.9% and 9.0% during 2021-22, down from 8.2-9.9% during 2011-12.
C) The report recommends a hybrid approach which combines primary and secondary survey data along with real-time Big Data to provide an estimate of logistics cost.
1) All A, B & C
2) Only A & B
3) Only B & C
4) Only A & C
5) Only AAnswer- 4) Only A & C
Explanation:
On 14th December 2023, The Logistics Division of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoCI) launched a report titled “Logistics Cost in India: Assessment and Long-Term Framework” in New Delhi, Delhi.
The report provides a framework to contribute towards achieving the target of reducing logistics costs in India.
i. The Report was prepared by the National Council of Applied Economic Research (NCAER), along with Asian Development Bank (ADB) experts and task force members.
It uses available secondary data from the Supply Use Tables and National Account Statistics of Ministry of Statistics and Programme Implementation (MoSPI) and the NCAER’s 2019 study, “Analysis of India’s Logistics Costs”.
ii. Findings: India’s logistic costs ranged between 7.8% and 8.9% during 2021-22, down from 8.7-9.9% during 2011-12.
iii. Also the logistics cost was reduced from 8.3-9.4% to 7.8-8.8% during 2014-15 to 2016-17 due to a faster growth in nominal Gross Domestic Product (GDP) than in logistic costs.
iv. Recommendations: The report recommends a hybrid approach which combines primary (covering all trade flows, product types, industry trends, Origin-Destination pairs, etc.) and secondary survey data along with real-time Big Data to provide an estimate of logistics cost.
In order to improve logistics efficiency, the logistics costs should be estimated regularly (preferably annually).
For this purpose, the process of data collection should be institutionalised. - Name the company that has recently (in Dec ‘23) collaborated with LIC Cards Services Limited and Mastercard to launch co-branded credit cards.
1) IndusInd Bank
2) IDFC FIRST Bank
3) HDFC Bank
4) ICICI Bank
5) IDBI BankAnswer-2) IDFC FIRST Bank
Explanation:
LIC Cards Services Limited (LIC CSL), IDFC FIRST Bank Limited and Mastercard has collaborated to launch “LIC IDFC FIRST Credit Cards”, a co-branded credit card to meet the dynamic financial needs of India.
The card is available in two variants: LIC Classic Credit Card and LIC Select Credit Card.
The Lifetime free card is (zero joining fee and zero annual fee) specially designed for the customers in Tier II and Tier III cities.
i. The card provides reward points on payment of every Life Insurance Corporation of India (LIC) insurance premium.
ii. These reward points (valid for 3 years) can be redeemed by a cardholder against any online purchase, including the payment of LIC insurance premiums. - Which company has recently (in Dec ‘23) launched India’s first self-hosted payments orchestration platform ‘FlowWise’?
1) Razorpay Software Private Limited
2) Amazon Pay India Private Limited
3) Cashfree Payments Limited
4) PhonePe Private Limited
5) BharatPe LimitedAnswer-3) Cashfree Payments Limited
Explanation:
Cashfree Payments has introduced India’s first self-hosted payments orchestration platform ‘FlowWise’ which allows payment management to take place directly on the merchant’s infrastructure.
i. FlowWise is one setup solution for Indian businesses for managing different payment systems. It simplifies the complexity and effort of using multiple Payment Gateways (PGs) for businesses.
ii. The platform allows users to send payments to different partners by cutting processing costs by up to 40% and improving success rates up to 10%. - Name the bank that has recently (in Dec ‘23) collaborated with the Reliance Industries Limited (RIL) to launch a financing program for compressed biogas (CBG) plants.
1) DBS Bank India
2) ICICI Bank
3) HSBC India
4) Axis Bank
5) YES BankAnswer- 1) DBS Bank India
Explanation:
Reliance Industries Limited (RIL) and DBS Bank India have collaborated to introduce a customised supply chain financing program to meet the requirements of compressed biogas (CBG) project initiated by RIL.
This initiative is a part of RIL’s net zero emissions roadmap.
Note: DBS Bank India’s customized funding structure facilitates the development of a competitive logistics and scalable CBG industry.
i. RIL sees agricultural residue as pivotal in its net-zero roadmap and plans to invest nationwide in producing CBG as an eco-friendly alternative to imported Compressed Natural Gas (CNG) and other fossil fuels.
ii. It has planned to set up 100 CBG plants over 5 years that will not only meet domestic gas demand but also position India as a key biofuel source. - Which of the following personalities has/have recently (in Dec ‘23) honoured with Indira Gandhi Prize for Peace, Disarmament, and Development for 2023?
1) Daniel Barenboim
2) Ali Abu Awwad
3) Jamila Afghani
4) Both 1 & 2
5) Both 2 & 3Answer-4) Both 1 & 2
Explanation:
The Indira Gandhi Prize for Peace, Disarmament, and Development for 2023 has been jointly awarded to Daniel Barenboim, an Argentine-Israeli classical pianist and conductor, and Ali Abu Awwad, Palestinian peace activist, for their efforts towards a non-violent resolution of the Israel-Palestine conflict.
i. Daniel Barenboim became a symbol of hope and a space for dialogue and gained a permanent base in Berlin’s (Germany) Pierre Boulez Saal, in March 2017.
His awards and honours, including the titles of Grand Officier in France’s Légion d’Honneur and Knight Commander of the British Empire (KBE) among others.
ii. Ali Abu Awwad was awarded the 2023 Luxembourg Peace Prize as an Outstanding Peace Activist.
Note: The international jury of the Indira Gandhi Prize for Peace, Disarmament, and Development was chaired by former Chief Justice T S Thakur. - Which company has recently (in Dec ‘23) received the Competition Commission of India (CCI) approval for the acquisition of sole control over Constantia Flexibles Holding GmbH (Constantia)?
1) Manjushree Technopack
2) Bemis Limited
3) Aluflexpack Limited
4) Uflex GmbH
5) Capripack BidCo GmbHAnswer-5) Capripack BidCo GmbH
Explanation:
On December 12, 2023, the Competition Commission of India (CCI) approved the acquisition of sole control over Constantia Flexibles Holding GmbH (Constantia) by Capripack BidCo GmbH (Capripak).
The sole control will be acquired by the acquisition of 100% of Constantia’s shareholding and voting rights from Constantia Lux S.à r.l.
Capripack is an acquisition vehicle owned by investment funds managed and advised by One Rock Capital Partners, LLC (ORC), a private equity firm based in New York, United States of America(USA).
Constantia, headquartered in Austria, is a wholly owned subsidiary of Constantia Lux S.à r.l. It is indirectly controlled by funds managed or advised by Wendel SE, a French investment company. - In December 2023, India’s fastest solar-electric boat, Barracuda was launched in __________(state).
1) Tamil Nadu
2) Gujarat
3) Odisha
4) Kerala
5) West BengalAnswer-4) Kerala
Explanation:
India’s fastest solar-electric boat, Barracuda was launched at the Navgathi Panavally Yard in Alappuzha, Kerala. The vessel was jointly developed by Mazagon Dock Shipbuilders Limited and Navalt Solar & Electric Boats Private Limited.
About the vessel:
i. Barracuda has twin 50 kilowatt (kW) electric motors, a marine-grade LFP battery, and 6 kW solar power system.
ii. The vessel can be deployed in the rough seas as a workboat to ferry up to 12 passengers and cargo.
iii. The vessel is 14-metre-long and 4.4-metre-wide. - Which country has recently (in Dec ‘23) commenced the operations of the world’s first fourth-generation nuclear reactor?
1) China
2) Japan
3) Russia
4) United States of America
5) IsraelAnswer- 1) China
Explanation:
China has commenced the operations of a 200 megawatt (MW) High-Temperature, Gas-Cooled Reactor (HTGCR) plant which is the world’s first fourth-generation nuclear reactor in Shandong, China.
i. The plant was developed jointly by state-run utility Huaneng, Tsinghua University and China National Nuclear Corporation.
ii. The plant uses a modular design (less than 300MW) which can be constructed off-site.
iii. China has a goal to produce 10% of electricity from nuclear power by 2035 and 18% by 2060. - Which of the following personalities have recently (in Dec ‘23) become 1st Indians to be inducted into the International Tennis Hall of Fame?
1) Mahesh Bhupathi
2) Leander Paes
3) Vijay Amritraj
4) Both 1 & 2
5) Both 2 & 3Answer-5) Both 2 & 3
Explanation:
Indian tennis legends Leander Paes; Indian sports commentator and promoter Vijay Amritraj; and British sports journalist and writer Richard Evans were inducted into the International Tennis Hall of Fame as a part of the class of 2024.
Leander Paes was selected under Player Category and Vijay Amritraj and Richard Evans were selected under Contributor Category.
Paes and Amritraj have become the 1st two Indians to receive the honours and the 1st Asian men to be selected in their respective categories.
Note: With this, India has become the 28th nation represented in the Hall of Fame.
i. The Class of 2024 will be officially inducted into the International Tennis Hall of Fame on 20th July 2024 in Newport, Rhode Island, the United States of America (USA).
ii. Leander Paes, Vijay Amritraj, and Richard Evans will join an elite group of 264 inductees from 28 nations, including India. - In December 2023, the Board of Control for Cricket in India (BCCI) announced the retirement of the former Indian cricketer Mahendra Singh Dhoni’s (MS Dhoni) iconic jersey number ____________.
1) 18
2) 7
3) 5
4) 6
5) 10Answer-2) 7
Explanation:
The Board of Control for Cricket in India (BCCI) has announced the retirement of the former Indian cricketer Mahendra Singh Dhoni’s (MS Dhoni) iconic jersey number “7” to honour his achievements in Indian cricket.
i. MS Dhoni becomes the second Indian to be given this honour after Sachin Tendulkar, whose jersey number “10” retired in 2017.
Since both the two jersey numbers “7” and “10” were retired, they will not be designated for any other Indian cricket players.
ii. According to International Cricket Council(ICC) rules, the numbers 1-100 were allotted to cricket players as jersey numbers when they debuted for the national team.
iii. MS Dhoni is the only captain in the history of cricket to win three ICC trophies: the World T20 in 2007 (held in South Africa), the ODI World Cup in 2011 (held in India, Sri Lanka, and Bangladesh), and the ICC Champions Trophy in 2013 (held in England and Wales).
He was the recipient of Padma Shri (2009) and Padma Bhushan (2018) for sports.
iv. He is the 2nd cricketer to be awarded Rajiv Gandhi Khel Ratna (now Major Dhyan Chand Khel Ratna) in 2007 after Sachin Tendulkar in 1997–1998.
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