Current Affairs Quiz: 4 January 2024

AffairsCloud brings you the complete and important daily Current Affairs Quiz 4 January 2024 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.

Our Current Affairs January 2024 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.

1. In January 2024, the Central Drugs Standard Control Organisation (CDSCO) launched the National Single Window System (NSWS) Portal to streamline, import, clinical investigations, and testing of medical devices.
   The site is designed and developed by Invest India, under the Department for Promotion of Industry and Internal Trade(DPIIT) through _______________ (company) for CDSCO.
   1) Infosys Limited
   2) Tata Consultancy Service
   3) Wipro Limited
   4) HCL Technologies Limited
   5) Tech Mahindra
   

   Answer & Explanation

   Answer-2) Tata Consultancy Service
   Explanation:
   On January 1, 2024, the Central Drugs Standard Control Organisation (CDSCO), under the Directorate General of Health Services, Ministry of Health & Family Welfare (MoHFW), launched the National Single Window System (NSWS) Portal to streamline, import, clinical investigations, and testing of medical devices.
   i. The site is designed and developed by Invest India, under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoCI), through Tata Consultancy Service (TCS) for CDSCO.
    The portal will be a one-stop shop for all approvals required by the investor and facilitates ease of doing business
    This is an independent portal distinct from the existing SUGAM portal or the cdscomdonline portal for the medical devices industry.
    The Know Your Approvals (KYA) module of the portal includes guidance for 32 Central Departments and 32 States.
    This hosts applications for approvals from 31 Central Departments and 22 State Governments.
   
   
   
2. Which country, along with India, has commenced the 1st edition of joint military exercise, Desert Cyclone 2024 in Mahajan, Rajasthan on 2nd January 2024?
   1) Mongolia
   2) Egypt
   3) Oman
   4) United Arab Emirates
   5) Kyrgyzstan
   

   Answer & Explanation

   Answer-4) United Arab Emirates
   Explanation:
   Desert Cyclone 2024, the 1st edition of the India-United Arab Emirates (UAE) joint military exercise, commenced in Mahajan, Rajasthan on 2nd January 2024. The 2-week-long Exercise will conclude on 15th January 2024.
    The goal of the exercise is to achieve shared security objectives and foster bilateral relations between two nations.
   Note: “Desert Eagle”, the first-ever India-UAE Joint Air Forces exercise took place in September 2008 at the Al-Dhafra base in Abu Dhabi, UAE.
   i. Objective: To boost interoperability in Sub-conventional Operations, focusing on Fighting in the Built-Up Area (FIBUA) within desert and semi-desert terrain under Chapter VII of the United Nations (UN) Charter on Peacekeeping Operations.
    It will enhance cooperation and interoperability between both sides during Peacekeeping Operations.
   ii. Participants:
    UAE contingent: 45 personnel from the Zayed First Brigade.
    Indian Army contingent: 45 personnel, primarily by a Battalion from the Mechanised Infantry Regiment.
   
   
   
3. In January 2024, __________ became the first Union Territory (UT) in India to implement the Pradhan Mantri Vishwakarma Yojana (PMVY).
   1) Lakshadweep
   2) Ladakh
   3) Puducherry
   4) Delhi
   5) Jammu and Kashmir
   

   Answer & Explanation

   Answer-5) Jammu and Kashmir
   Explanation:
   Jammu and Kashmir (J&K) has become the first Union Territory (UT) in India to implement the Pradhan Mantri Vishwakarma Yojana (PMVY).
    The training programme for the 1st batch of 30 trainees (Viswakarmas) in ‘darzi craft’ under PMVY was inaugurated at Industrial Training Institute (ITI) Shopian, J&K.
   i. The trainees will be offered basic training of 5 to 7 days, and advanced training of 15 days or more.
   ii. The trainees will be paid a stipend of Rs 500 per day and will receive a free modern toolkit worth Rs 15,000.
   
   
   
4. Which of the following countries did ‘Not’ joined the BRICS as new members in January 2024?
   1) United Arab Emirates
   2) Egypt
   3) Argentina
   4) Saudi Arabia
   5) Iran
   

   Answer & Explanation

   Answer-3) Argentina
   Explanation:
   Five countries namely Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) have joined BRICS(Brazil, Russia, India, China, and South Africa) bloc as their membership came into force from January 1, 2024.
    With the induction of new members, BRICS’ membership count increased to 10 from 5.
   Note: Argentina which was supposed to join BRICS withdrew from the entry by its President Javier Milei.
   i. 2024 BRICS chairmanship:
    On 1st January 2024, Russia took over the BRICS chairmanship. Russian President Vladimir Putin stressed the commitment to advancing global development and security through the theme “Strengthening Multilateralism for Equitable Global Development and Security.”
    The 16th BRICS summit was scheduled to happen in Kazan, Russia in October 2024.
   
   
   
5. In January 2024, the Reserve Bank of India (RBI) issued revised guidelines for classifying accounts and deposits as inoperative accounts and unclaimed deposits by banks which will come into effect from ___________ 2024.
   1) 1st August
   2) 1st April
   3) 1st March
   4) 1st June
   5) 1st July
   

   Answer & Explanation

   Answer-2) 1st April
   Explanation:
   On January 1, 2024, the Reserve Bank of India (RBI) issued revised guidelines for classifying accounts and deposits as inoperative accounts and unclaimed deposits by banks which will come into effect from April 1, 2024.
    These will be applicable to all Commercial Banks (including Regional Rural Banks/RRBs) and all Co-operative Banks.
    These instructions by RBI are issued in exercise of the powers conferred by Sections 35A of the Banking Regulation (BR) Act, 1949 read with Sections 26A, 51 and 56 of the Act ibid and all other provisions of this Act or any other laws enabling RBI to issue instructions in this regard.
   Revised Instructions:
    Unclaimed credit balances in bank accounts inactive for ten years or more, as per paragraph 3(iii) of the Depositor Education and Awareness (DEA) Fund Scheme, 2014, must be transferred to the RBI’s DEA Fund, following the provisions outlined in the DEA Fund Scheme, 2014.
    Comprehensive guidelines issued are to be followed by the banks regarding various aspects, including classifying accounts and deposits as inoperative or unclaimed, periodic review, fraud prevention, grievance redressal, and procedures for tracing customers, nominees, or legal heirs.
    Banks shall undertake at least an annual review in respect of accounts, where there are no customer induced transactions for more than a year.
    Banks must notify account holders via letters, emails, or SMS (Short Message Service) on a quarterly basis if there’s been no activity in their accounts for the past year.
    To classify an account as inoperative, only customer-initiated transactions, not bank-initiated ones, will be considered.
   
   
   
6. In January 2024, the Reserve Bank of India (RBI) revised Bulk Deposits limit for Scheduled Primary (Urban) Co-operative Banks in Tier 3 and 4 to Rs ____________ from Rs 15 lakh and above.
   1) 60 lakh and above
   2) 75 lakh and above
   3) 50 lakh and above
   4) 1 crore and above
   5) 25 lakh and above
   

   Answer & Explanation

   Answer-4) 1 crore and above
   Explanation:
   The Reserve Bank of India (RBI) revises Bulk Deposits limit for Scheduled Primary (Urban) Co-operative Banks in Tier 3 and 4 to Rs 1 crore and above from Rs 15 lakh and above. This is 6.66 times increase.
    The bulk deposit limit for urban co-operative banks not located in Scheduled UCBs in Tier 3 and 4 cities has been increased to Rs 15 lakh and above.
    Previously, a deposit of Rs 15 lakh and above was considered a bulk deposit across all UCBs, allowing customers to negotiate interest rates with the banks.
    However, with the revised threshold set at Rs. 1 crore and above, customers depositing amounts below this limit will now earn a uniform rate of interest.
   
   
   
7. Name the Payments Bank that has recently (in Jan ‘24) collaborated with LEO1 to launch MasterCard Powered ‘LEO 1 Card’, India’s first numberless Prepaid ID card.
   1) NSDL Payments Bank
   2) Fino Payments Bank
   3) Jio Payments Bank
   4) Airtel Payments Bank
   5) Paytm Payments Bank
   

   Answer & Explanation

   Answer- 1) NSDL Payments Bank
   Explanation:
   LEO1 (formerly known as Financepeer), an Edu-fintech startup, in collaboration with NSDL Payments Bank Limited (NPBL), the wholly-owned subsidiary of National Securities Depository Ltd (NSDL), has launched ‘LEO 1 Card’ which is India’s first numberless Prepaid ID card with MasterCard as a network partner.
    The card aims to transform a student ID card into a student utility card.
   i. The card acts as a contactless debit card as well as an identity card.
   ii. The card comes with a virtual wallet which can be controlled through the LEO1 mobile application(app).
   iii. Once the money is added to the wallet, it can be used at any point of sales (POS) outlet and also be withdrawn from an Automated Teller Machine (ATM) without setting up a bank account.
   iv. The cardholder should be of minimum 18 years old.
   Note- The cardholder can set up spending limits with a maximum of Rs 2 lakh per day.
   
   
   
8. Which bank has recently (in Jan ‘24) launched the National Common Mobility Card (NCMC) RuPay Reloadable Prepaid Card under the ‘One Nation, One Card’ initiative?
   1) Indian Bank
   2) Bank of Baroda
   3) Bank of India
   4) State Bank of India
   5) Punjab National Bank
   

   Answer & Explanation

   Answer-2) Bank of Baroda
   Explanation:
   The Bank of Baroda (BoB), a public sector bank, has launched the National Common Mobility Card (NCMC) RuPay Reloadable Prepaid Card in alignment with the ‘One Nation, One Card’ initiative.
   i. It is a chip-enabled contactless RuPay Platinum Europay, Mastercard and Visa (EMV) prepaid card.
   ii. Apart from acting as a traditional ATM card, it can also be used to pay for public transport (such as metro rails, buses, trains, cabs, ferries, tolls and parking).
   iii. The maximum online wallet balance allowed is Rs 1 lakh and the maximum offline wallet balance allowed is Rs 2,000.
   
   
   
9. Which of the following companies have recently (in Jan ‘24) received approval from the Reserve Bank of India (RBI) to act as a Payment Aggregator (PA)?
   1) DigiO
   2) Tata Communications Payment Solutions
   3) DirecPay
   4) Both 1 & 2
   5) Both 2 & 3
   

   Answer & Explanation

   Answer-4) Both 1 & 2
   Explanation:
   Tata Group’s digital payments arm, Tata Communications Payment Solutions Limited (Tata Pay), has received approval from the Reserve Bank of India (RBI) to act as a Payment Aggregator (PA).
   i. The approval from RBI allows Tata Groups to power all their e-commerce transactions within its subsidiary entities through Tata Payments Limited.
   ii. The Groww (financial services platform)-backed identity verification startup, DigiO, also has received PA licence from RBI.
   
   
   
10. Who has recently (in Jan ‘24) won the Pubity Sport Men’s Athlete of the Year 2023 Award?
    1) Lionel Messi
    2) Novak Djokovic
    3) Virat Kohli
    4) Max Verstappen
    5) Cristiano Ronaldo
    

    Answer & Explanation

    Answer- 3) Virat Kohli
    Explanation:
    Indian cricketer Virat Kohli won the Pubity Sport Men’s Athlete of the Year 2023 Award by defeating Argentine footballer Lionel Messi in the final clash of the online poll in which Kohli got 78 percent out of the total votes while Messi got remaining 22 percent.
     Spanish footballer Aitana Bonmati (76%)wins Pubity female Athlete of The Year 2023 Award by defeating American tennis player Coco Gauff (24%).
    i. The award was selected based on the online poll conducted by  Pubity Sport, a subsidiary channel of Pubity.
    ii. The poll for the Pubity Sport Men’s Athlete of the Year featured 16 sports players across various disciplines.
    iii. The Top 4 players in the list includes Virat Kohli and Lionel Messi, Novak Djokovic (tennis – Serbia) and Max Verstappen (Formula 1 motorsport – Belgian-Dutch ).