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- In July 2023, the Union cabinet approved the bill to include the National Institute of Industrial Engineering (NITIE) in Mumbai as the ____________ Indian Institute of Management (IIM) of India.
1) 21st
2) 22nd
3) 23rd
4) 24th
5) 25thAnswer-1) 21st
Explanation:
On 12th July 2023, the Union Cabinet chaired by the Prime Minister Narendra Modi approved a bill amending IIM Act to include the National Institute of Industrial Engineering (NITIE) in Mumbai as the 21st Indian Institute of Management (IIM). The amendment will rename NITIE Mumbai as IIM Mumbai .
• Maharashtra is set to become the first state to have two IIMs, which includes IIM Nagpur, established by the Government of India in 2015, and newly designated IIM Mumbai.
• The approved bill to be passed in the monsoon session of Parliament, which is set to take place from July 20 to August 11, 2023.
i. NITIE Mumbai was established in 1963 with the support of the United Nations Development Programme (UNDP)and the International Labour Organization (ILO) to create Skilled professionals.
ii. NITIE was ranked seventh in the National Institutional Ranking Framework (NIRF) ranking 2023. - Name the state government that has recently (in July ‘23) signed an MoU with OneWeb to set up India’s First Private ‘Satellite Network Portal Site’.
1) Andhra Pradesh
2) Gujarat
3) Kerala
4) Odisha
5) West BengalAnswer- 2) Gujarat
Explanation:
On 19th July 2023, the Gujarat government signed a Memorandum of Understanding (MoU) with OneWeb, a London-based Company, and Gujarat Government’s Department of Science and Technology, for setting up India’s First Private ‘Satellite Network Portal Site’ in Gujarat.
i. This project under Digital India, aims to provide affordable internet access to villages, district panchayats, local administrative bodies, government departments, and other entities throughout India.
ii. OneWeb will establish one of the two private ‘satellite network portal sites’ in two villages in Jotana taluka of Mehsana district of Gujarat.
iii. The satellite network portal in Katosan and Tejpura, Jotana taluka, Gujarat, is scheduled to launch in 2023 with an estimated cost of over Rs. 100 crores for its Phase-1. - The _________ Foundation Day of National Bank for Agriculture and Rural Development (NABARD) was observed on 12th July 2023.
1) 50th
2) 25th
3) 42nd
4) 35th
5) 49thAnswer-3) 42nd
Explanation:
On July 12, 2023, the National Bank for Agriculture and Rural Development (NABARD) celebrated its 42nd Foundation Day. Amit Shah, the Union Home Minister and Minister of Cooperation was the chief guest of the event held at Pragati Maidan in New Delhi, Delhi.
i. The day was marked by a series of events throughout the country, including a webinar on the theme of “NABARD: 42 Years of Rural Transformation.”
ii. The webinar was addressed by the Union Minister of Agriculture and Farmers’ Welfare, Narendra Singh Tomar, who highlighted the important role that NABARD has played in the development of rural India by enhancing agricultural production, developing infrastructure, and fostering financial inclusion. - In which city, the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) 2023 meeting under the Indian Presidency was held in July 2023?
1) Bengaluru, Karnataka
2) Mumbai, Maharashtra
3) Noida, Uttar Pradesh
4) Gandhinagar, Gujarat
5) Indore, Madhya PradeshAnswer-4) Gandhinagar, Gujarat
Explanation:
On July 17-18, 2023, the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) 2023 meeting under the Indian Presidency was held in Gandhinagar, Gujarat. It was jointly chaired by Union Minister Nirmala Sitharaman, Ministry of Finance, and Reserve Bank of India (RBI) Governor Shaktikanta Das.
i. This FMCBG meeting was preceded by the 3rd G20 Finance and Central Bank Deputies (FCBD) meeting during 14-15 July 2023 in Gandhinagar.
• To review the outcomes of the G20 Finance Track and to seek guidance from Ministers and Governors on the way forward.
• 520 participants across 66 delegations including Finance Ministers and Central Bank Governors from G20 member countries, Invitee Countries, and Heads of various International Organisations (IOs).
• The members also endorsed the new G20 2023 Financial Inclusion Action Plan (FIAP) for the three years 2024-26.
• During the meeting, the Indonesian Finance Minister Sri Mulyani Indrawati and her Indian counterpart Nirmala Sitharaman jointly inaugurated the India-Indonesia Economic and Financial Dialogue (EFD) in Gandhinagar, Gujarat to enhance collaboration on bilateral and international economic and financial matters.
• The discussions held during the Third G20 FMCBG meeting will inform the Leaders for the G20 Summit to be held in India in September, 2023. The G20 FMCBGs will meet next in October 2023 in Marrakesh, Morocco on the sidelines of 2023 Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) from October 9 – 15, 2023. - Which country, along with India has recently (in July ‘23) launched a call for proposals on “Critical and Emerging Technology: Quantum Technologies and Artificial Intelligence for Transforming Lives”?
1) Indonesia
2) United Kingdom
3) Russia
4) Germany
5) United States of AmericaAnswer-5) United States of America
Explanation:
On 18th July 2023, India and the United States of America (USA) jointly launched a call for proposals on “Critical and Emerging Technology: Quantum Technologies and Artificial Intelligence for Transforming Lives“. The program was designed by the Indo-US Science and Technology Forum (IUSSTF) and the Secretariat for USISTEF.
i. The objective is to promote technology innovation and entrepreneurship in commercially viable and socially relevant areas.
ii. The program worth USD 2 million launched under the US-India Science and Technology Endowment Fund (USISTEF) for the joint development and commercialization of Artificial Intelligence (AI) and quantum technologies, and encouraged public-private collaborations to develop high performance computing (HPC) facilities in India. - Which of the following organisations/statutory bodies has recently (in July ‘23) decided to lift trading curbs on micro-cap stocks that come under Enhanced Surveillance Measures (ESM)?
1) Securities and Exchange Board of India
2) National Stock Exchange
3) Bombay Stock Exchange
4) Both 1 & 2
5) All 1, 2 & 3Answer- 5) All 1, 2 & 3
Explanation:
On July 18, 2023, a joint discussion of Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and Securities and Exchange Board of India (SEBI) decided to lift trading curbs on micro-cap stocks that come under Enhanced Surveillance Measures (ESM).
• The revised framework is applicable from July 24, 2023.
i. This will ease rules for trading in stocks that remain under ESM framework and also enhance their liquidity.
ii. Changes in ESM Framework:
• The rule of 100% margin remains unchanged.
• Now, the stocks under ESM Stage-II are allowed trade-for-trade (T2T) settlement on daily basis (trading days) from Monday with +/- 2% price band under Periodic Call Auction. Earlier, these were allowed to trade only once a week with Periodic Call Auction. - In July 2023, Reserve Bank of India (RBI) cancelled the licence of ________________ (Co-operative Bank) due to lack of adequate capital and earning prospects.
1) Abhyudaya Co-operative Bank Limited
2) Kalupur Commercial Co-operative Bank
3) Shamrao Vithal Co-operative Bank
4) Bharat Co-operative Bank
5) United India Co-operative Bank LimitedAnswer- 5) United India Co-operative Bank Limited
Explanation:
Reserve Bank of India (RBI) cancelled the licence of United India Co-operative Bank Limited, Nagina (Bijnor, Uttar Pradesh) as the bank does not have adequate capital and earning prospects to pay its present depositors in full.
i. The bank also does not comply with the provisions of Section 11(1) and bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949.
ii. The bank is prohibited from engaging in any ‘banking’ activities, including the acceptance and repayment of deposits, as defined in Section 5(b) in conjunction with Section 56 of the Banking Regulation Act, 1949. - Which bank has recently (in July ‘23) launched ‘Project Palaash’, an eight-month campaign to promote environmental sustainability?
1) Bank of Baroda
2) Bank of India
3) Punjab National Bank
4) State Bank of India
5) Indian BankAnswer- 3) Punjab National Bank
Explanation:
Punjab National Bank (PNB), India’s leading Public Sector Bank, launched an environmental initiative ‘Project PNB Palaash’, an eight-month campaign to promote sustainability aimed at reducing costs and enhancing operational efficiencies through measures such as energy and resource conservation, paper reduction, waste management and optimised digital processes.
i. The goal of this initiative is to actively contribute to conservation activities, encourage the adoption of sustainable practices, and promote active employee engagement.
ii. The campaign is in line with the Reserve Bank of India’s (RBI) vision of sustainable finance and the 6th iteration of Enhanced Access and Service Excellence (EASE 6.0), an initiative by the Department of Financial Services (DFS),Government of India. - Which state/UT’s Rural Livelihoods Mission has recently (in July ‘23) bagged the SKOCH Award in Gold category in District Governance?
1) Andhra Pradesh
2) Karnataka
3) Maharashtra
4) Jammu and Kashmir
5) TelanganaAnswer- 4) Jammu and Kashmir
Explanation:
The UMEED Programme of Jammu and Kashmir Rural Livelihoods Mission (JKRLM) bagged the SKOCH Award under the theme “State of Governance India 2047” in Gold category in District Governance for its outstanding efforts in creating marketing avenues for Self-Help Groups (SHGs) in the Union Territory.
i. JKRLM received the SKOCH Award for the first time since the establishment of the scheme.
ii. SKOCH award, one of the highest honors in the field of governance, finance, and technology, which recognizes organizations that have made significant contributions to the socio-economic development of communities through innovative initiatives - When was the United Nations (UN)’s International Chess Day 2023 observed across the globe?
1) 16th July 2023
2) 19th July 2023
3) 17th July 2023
4) 20th July 2023
5) 18th July 2023Answer-4) 20th July 2023
Explanation:
The United Nations (UN)’s International Chess Day or World Chess Day 2023 observed on 20th July 2023 across the globe to mark the significant role of Chess as an affordable and inclusive activity and also to improve overall Intelligence quotient (IQ) across the world.
i. 20th July 2023 also marks the observance of the 99th Anniversary of the International Chess Federation, or Fédération Internationale des Échecs (FIDE), established in 1924.
ii. The first-ever UN recognised World Chess Day was observed on 20th July 2020.
- In July 2023, the Union cabinet approved the bill to include the National Institute of Industrial Engineering (NITIE) in Mumbai as the ____________ Indian Institute of Management (IIM) of India.
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