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Current Affairs Quiz: 24 February 2023

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AffairsCloud brings you the complete and important daily Current Affairs Quiz 24 February 2023 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 2023 updates.

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  1. Which of the following institutes along with National Institute of Technology (NIT) Calicut has recently (in Feb ‘23) signed an MoU with the Bureau of Indian Standards (BIS) to establish “BIS Standardization Chair Professor”?
    1) IIT Gandhinagar
    2) IIT Guwahati
    3) IIT Madras
    4) Both 1 & 2
    5) Both 2 & 3
    Answer-4) Both 1 & 2
    The Bureau of Indian Standards (BIS) signed a Memorandum of Understanding (MoU) with the Indian Institutes of Technology (IIT) Guwahati (Assam), IIT Gandhinagar (Gujarat), and the National Institute of Technology (NIT) Calicut (Kozhikode, Kerala) for the establishment of “BIS Standardization Chair Professor” at these institutes.
    i. It is created for research and development, teaching and training in the field of Standardization and Conformity Assessment in India.

  2. Which country has recently (in Feb ‘23) surpassed India to become the world’s 6th-largest equity market with USD 3.11 trillion market capitalization (Mcap)?
    1) Canada
    2) Italy
    3) United Kingdom
    4) France
    5) Hong Kong
    Answer-3) United Kingdom
    In February 2023, As per the data of Bloomberg, the United Kingdom (UK) became the world’s 6th-largest equity market surpassing India for the first time in almost 9 months (Since May 2022).
    i. The combined market capitalization (Mcap) of primary listings in the UK, excluding ETFs (Exchange-Traded Funds) and ADRs (American depositary receipt), reached about USD 3.11 trillion, about USD 5.1 billion higher than their Indian equivalents.
    ii. Indian stocks started declining from December 2022 and it reached a peak to more than 10% as of February 22, 2023.
    iii. The MSCI (Morgan Stanley Capital International) India Index has dropped 6.1% in 2023, while the group of companies owned by Gautam Adani among Asia’s richest men has lost about USD 142 billion in market capitalization.

  3. Name the bank that recently (in Feb ‘23) committed to provide USD 20 billion– USD 25 billion resources to India’s development priorities and green growth.
    1) Asian Development Bank
    2) African Development Bank
    3) World Bank
    4) New Development Bank
    5) Asian Infrastructure Investment Bank
    Answer-1) Asian Development Bank
    On 21 February 2023, under the meeting of the Prime Minister (PM) Narendra Modi with Asian Development Bank (ADB) president Masatsugu Asakawa, ADB committed to provide USD 20 billion–USD 25 billion resources over 5 years to advance India’s aspirations for fast, inclusive, and green growth.
    i. ADB stated its assistance to meet India’s priority development needs, and its country partnership strategy (CPS) for India, 2023–2027.
    ii. The ADB president also admitted that India continues to be the fastest-growing major economy after the COVID 19 recovery with an anticipated 7% growth in the fiscal year ending March 31, 2023.

  4. Which company recently (in Feb ‘2023) signed a partnership and licensing agreement with the United Arab Emirates (UAE) CARACAL for co-manufacturing of small arms in India?
    1) Adani Defence and Aerospace
    2) ICOMM Tele Limited
    3) Hindustan Aeronautics Limited
    4) Mahindra Defence Systems Limited
    5) Bharat Forge Limited
    Answer-2) ICOMM Tele Limited
    On February 21, 2023, ICOMM Tele Limited, a group company of Megha Engineering and Infrastructures Ltd (MEIL) signed a partnership and licensing agreement with the United Arab Emirates (UAE)-based CARACAL, a part of EDGE Group’s Missiles & Weapon cluster, for the transfer-of-technology (ToT) to locally manufacture small arms for the domestic market under the ‘Make in India’ initiative.
    i. This marks the first-ever private sector technology transfer in the defence sector between UAE and India. The deal was signed during the ongoing (February 20-24, 2023) 16th edition of IDEX (International Defence Exhibition & Conference) 2023 defence exhibition in Abu Dhabi, UAE.
    ii. The licensing agreement documents were exchanged between Hamad Al Ameri, Chief Executive Officer(CEO) of Caracal and Sumanth Paturu, Managing Director of ICOMM during the event.

  5. As per the data released (in Feb ‘23) by the Department for Promotion of Industry and Internal Trade (DPIIT), India’s Foreign Direct Investment (FDI) equity inflows declined ___________year-on-year to USD 36.75 billion in April-December FY23.
    1) 10%
    2) 11%
    3) 13%
    4) 15%
    5) 17%
    Answer-4) 15%
    As per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, India’s Foreign Direct Investment (FDI) equity inflows declined 15% year-on-year to USD 36.75 billion during the first three quarters (April-December) of Financial year 2022-23 (FY23).
    i. Total FDI inflows, which includes the equity capital of unincorporated bodies, reinvest earnings, and other capital, decreased by 8% to USD 55.27 billion in April-December FY23 from USD 60.4 billion in April-December FY22.
    • State Wise: Maharashtra continued to be the most favoured destination of investors, receiving USD 10.76 billion, followed by Karnataka with USD 8.77 billion and Delhi with USD 6.11 billion in April-December FY23.
    • Countrywise: Singapore was the top investing country with equity inflows of $13.07 billion. This was followed by the US ($4.95 billion), Mauritius ($4.73 billion), the United Arab Emirates ($3.1 billion), etc.

  6. Who has recently (in Feb ‘23) resigned as President of Wipro’s iDEAS (Integrated Digital, Engineering, and Application Services) business?
    1) Deepak Acharya
    2) B M Bhanumurthy
    3) Rajan Kohli
    4) Deepak M Satwalekar
    5) Kumudha Sridharan
    Answer-3) Rajan Kohli
    Rajan Kohli, President of the iDEAS (Integrated Digital, Engineering, and Application Services) business at Wipro Limited, has resigned after a nearly three-decades career with the IT (Information technology) firm.
    • As a President of Wipro’s iDEAS, he led a team of over 1 lakh employees.
    i. Rajan Kohli resides in New York, the United States of America (USA). He is a director of the Wipro US Foundation and an Independent Director (Member of the Board) of Technicolor Creative Studios.
    ii. He is also a member of the Wipro Executive Board (WEB) and the Wipro Executive Council (WEC).

  7. Name the personality who has recently (in Feb ‘23) appointed as new Drug Controller General of India (DCGI).
    1) Rajeev Raghuvanshi
    2) A. K. Pradhan
    3) Rajappan Viswanathan
    4) Aseem Sahu
    5) Kavita Sharma
    Answer-1) Rajeev Raghuvanshi
    The Appointments Committee of the Cabinet (ACC) chaired by Prime Minister Narendra Modi, has approved the recommendation submitted by the Union Public Service Commission (UPSC) to appoint Dr Rajeev Raghuvanshi as new Drug Controller General of India (DCGI), head of Central Drugs Standard Control Organization (CDSCO) with effect from the date of his assumption of charge till his attaining the age of superannuation on 28th February 2025 or until further orders.
    i. The appointment is made at “Level 14 of the Pay Matrix”, on a “short-term contract basis”.
    ii. He will be taking over as DCGI from Dr PBN Prasad, who was appointed as DCGI with effect from 16th February 2023 till 28th February 2023.

  8. Name the company that has recently (in Feb ‘23) built the world’s first set of new-generation High Temperature Superconducting (HTS) Magnets for testing the fusion power plant.
    1) First Light Fusion Limited
    2) Tokamak Energy Limited
    3) General Fusion Limited
    4) BlackLight Power Limited
    5) TAE Technologies Limited
    Answer-2) Tokamak Energy Limited
    United Kingdom (UK)-based Tokamak Energy Limited, a fusion power research company, has built the world’s first set of new-generation High-Temperature Superconducting (HTS) Magnets to be assembled and tested in fusion power plant-relevant scenarios.
    i. Strong magnetic fields are required to contain and manage the extremely hot, positively-charged hydrogen fuel, which becomes a plasma several times hotter than the Sun to produce clean, sustainable fusion energy.
    ii. The new Demo4 facility from Tokamak Energy will consist of 44 individual magnetic coils made using 38 Km of ground-breaking HTS tape, which carries currents with zero electrical resistance and requires 5 times less cooling power than traditional superconducting materials.

  9. In February 2023, Suresh Kumar Khanna, Finance Minister of Uttar Pradesh (UP), presented the budget of Rs. ______________ for the Financial Year 2023-24.
    1) Rs 5.20 lakh crore
    2) Rs 8.20 lakh crore
    3) Rs 7.30 lakh crore
    4) Rs 6.90 lakh crore
    5) Rs 4.89 lakh crore
    Answer-4) Rs 6.90 lakh crore
    Suresh Kumar Khanna, Finance Minister of Uttar Pradesh (UP) presented Rs 6.90 lakh crore budget for the Financial Year 2023-24 in the UP assembly focusing on agriculture, education and populist schemes.
    i. The budget of Rs 6,90,242.43 crore for FY24 was the biggest budget in the history of UP. The FY24 budget focuses on the all-around development of UP for making it a USD 1 trillion economy.
    • A provision of over Rs 21,159 crore was proposed for the construction of roads and bridges, and Rs 6,209 crore for their maintenance.
    • Rs 1,000 crore has been proposed for the development of ‘Dharmarth Marg’ (roads to religious places) to promote religious tourism.
    • Rs 7,248 crore was proposed for the old age or farmer pension scheme and Rs 1,120 crore was set aside for Divyang Pension Yojana.

  10. In which state, Indian Railways has recently (in Feb ‘23) completed the electrification of all broad gauge (BG) routes?
    1) Uttar Pradesh
    2) Jharkhand
    3) Madhya Pradesh
    4) Uttarakhand
    5) Gujarat
    Answer-1) Uttar Pradesh
    Indian Railways completed the electrification of the entire Broad Gauge (BG) routes in Uttar Pradesh (UP) with the electrification of the Subhagpur-Pachperwa BG route in the North Eastern Railway. This will increase the region’s rail connection and train speed.
    • Also, the Highly Utilized Network (HUN-5), Jhansi-Muzzaffarpur-Katni is fully electrified now.
    i. Indian Railways has electrified 85% of Route Kilometer (RKM) and is rapidly progressing to complete Mission 100% Electrification and become the largest green railway network in the world.
    ii. Indian Railways has completed the electrification of BG routes in 6 zonal railways:
    • East Coast Railway, North Central Railway, North Eastern Railway, Eastern Railway, South Eastern Railway, and West Central Railway.