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- Which of the following points is/are “Incorrect” with respect to the status of Central Public Sector Enterprises (CPSEs), as of August 2023?
A) The Department of Public Enterprises (DPE) under the Ministry of Finance, upgraded the status of Oil India Limited (OIL) as Maharatna from Navratna Central Public Sector Enterprises (CPSEs) status.
B) The DPE upgraded the status of ONGC Videsh Ltd (OVL) as Navratna CPSEs from Category-I Miniratna.
C) OIL will be the 15th Maharatna amongst the CPSEs and OVL will be 12th Navratna amongst the CPSEs.
1) Only A
2) Only B
3) Only C
4) Only A & B
5) Only B & CAnswer-3) Only C
Explanation:
On 3rd August 2023, the Department of Public Enterprises (DPE) under the Ministry of Finance, upgraded the status of 2 oil sector Central Public Sector Enterprises (CPSEs) namely Oil India Limited (OIL) and ONGC Videsh Ltd (OVL). The status of OIL and OVL has been upgraded to the status of Maharatna and Navratna CPSEs respectively. Earlier OIL was a ‘Navratna’ CPSE, while OVL was a Category-I ‘Miniratna‘ CPSE.
• OIL, the second-largest National Exploration & Production (E&P) Company in India, now will be the 13th Maharatna amongst the CPSEs.
• OVL, the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), and the second largest petroleum company of India, now will be 14th Navratna amongst the CPSEs.
Note: Both OIL and OVL are under the administrative control of the Ministry of Petroleum and Natural Gas (MoP&NG), Government of India (GoI). - In which state, President of India Draupadi Murmu has recently (in August ‘23) inaugurated the ‘Unmesha’ – International Literature Festival and ‘Utkarsh’ – National Festival of Folk and Tribal Performing Arts?
1) West Bengal
2) Gujarat
3) Odisha
4) Maharashtra
5) Madhya PradeshAnswer-5) Madhya Pradesh
Explanation:
On 4th August 2023, President of India Draupadi Murmu inaugurated the ‘Unmesha’ – International Literature Festival and ‘Utkarsh’ – National Festival of Folk and Tribal Performing Arts to promote inclusivity and cultural diversity at Ravindra Bhavan in Bhopal, Madhya Pradesh.
i. The event, which will take place from 3rd–5th August 2023, as part of the Azadi Ka Amrit Mahotsav, is organized by the Madhya Pradesh Department of Culture in collaboration with the Sangeet Natak Akademi and Sahitya Akademi of the Union Ministry of Culture.
ii. The function was also addressed by Madhya Pradesh Governor Mangubhai Patel and Madhya Pradesh Chief Minister (CM) Shivraj Singh Chouhan.
iii. A cultural exhibition of more than 1000 artists depicting the spirit of “Ek Bharat Shreshtha Bharat” is organized. - Which Life Insurance company has recently (in August ‘23) launched a ‘Guarantee of Life Dreams (G.O.L.D)’ Plan to provide policyholders with a regular long-term income option?
1) Tata AIA Life Insurance
2) SBI Life Insurance
3) IndiaFirst Life Insurance
4) HDFC Life Insurance
5) Max Life InsuranceAnswer-– 3) IndiaFirst Life Insurance
Explanation:
On 31st July 2023, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), launched a new plan “IndiaFirst Life Guarantee of Life Dreams (G.O.L.D.)” a non-linked, non-participating, individual life insurance plan is designed to provide policyholders with a regular long-term income option.
i. The highlight of this product is that one can plan to receive future income from the end of the first month itself.
ii. The plan offers Premium Paying Terms (PPT), with options of 6 years, 8 years, and 10 years for a policy tenure of 30 years or 40 years. - Name the Bank that has recently (in July ‘23) partnered with Tiger Fintech Private Limited to launch a co-branded credit card Powered by Visa.
1) IndusInd Bank
2) YES Bank
3) Axis Bank
4) ICICI Bank
5) HDFC BankAnswer-1) IndusInd Bank
Explanation:
On 3rd August 2023, IndusInd Bank Ltd. and Tiger Fintech Private Limited, a Bajaj Capital Group company, announced the launch of the ‘IndusInd Bank Tiger Credit Card’, a co-branded credit card powered by Visa Inc (Visa), the global digital payments technology company, to give the best-in-class credit card access to the customers, to meet their lifestyle requirements.
i. The card offers a ‘Magnificent Rewards Program’, where customers earn up to 6X accelerated rewards.
ii. Cardholders will also be able to convert their rewards points to air miles (by redeeming the reward points for flight tickets) and enjoy discounted foreign currency markup of 1.5%, which can lead to considerable savings on their international expenses. - As per the S&P Global’s report titled ‘Look Forward: India’s Moment’ released in August 2023, India will grow at an average of ________ per year from financial year 2023-24 (FY24) to FY31.
1) 5.9%
2) 6.7%
3) 6.2%
4) 5.7%
5) 6.0%Answer-2) 6.7%
Explanation:
As per an United States based corporation S&P Global’s report titled ‘Look Forward: India’s Moment’, India will grow at an average 6.7% per year from financial year 2023-24 (FY24) to FY31. This will increase the Gross Domestic Product (GDP) of India to USD 6.7 trillion from USD 3.4 trillion in FY23. The Per capita GDP will rise to about USD 4,500.
i. For FY24, India will be the fastest growing economy in the G20 (Group of Twenty) and will grow by 6% amid global slowdown and policy rate hikes by the Reserve Bank of India (RBI).
ii. India shows a GDP growth of 7.2% in FY23.
iii. The report projected India’s economic growth from FY24 to FY31 - Societe Generale has recently (in July ‘23) bought shares of __________ (Bank) for Rs 382 crore through open market transactions.
1) IDFC FIRST Bank
2) YES Bank
3) HDFC Bank
4) Bandhan Bank
5) Axis BankAnswer-4) Bandhan Bank
Explanation:
On 31st July 2023, Europe-based financial services group Societe Generale bought shares of Kolkata-based Bandhan Bank Ltd. for Rs 382 crore through open market transactions.
i. According to the bulk deal data available with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), Societe Generale has acquired a total of 1.74 crore equity shares or 1.08 percent stake in Bandhan Bank of which 89.23 lakh shares were bought on the NSE and 85.52 lakh shares on the BSE.
ii. The average buying price for the above shares was Rs 218.6 per share, and the stake buy amounted to Rs 382.01 crore. - Which country has recently (in August ‘23) delivered the air-launched Spike Non Line of Sight (NLOS) Anti-Tank Guided Missiles (ATGM) to Indian Air Force (IAF)?
1) France
2) Japan
3) Russia
4) Iran
5) IsraelAnswer- 5) Israel
Explanation:
Indian Air Force (IAF) received air-launched Spike Non Line of Sight (NLOS) Anti-Tank Guided Missiles(ATGM) from Israel which can hit targets upto 50 km from a helicopter and 32 km from the ground.
• The NLOS missiles will be integrated with the fleet of Russian-origin Mi-17V5 helicopters, manufactured by Kazan Helicopters.
i. It was designed by the Israeli company Rafael Advanced Defense Systems & It is available in various configurations, including man-portable, vehicle-launched, and helicopter-launched variants.
ii. Utilizes a fire-and-forget system with lock-on before launch and automatic self-guidance features.
iii. The long and extended range versions of the Spike introduce the “Fire, Observe and Update” operating mode. - In August 2023, India’s Indigenous Nag Anti-Tank Guided Missile (ATGM) and the variant of HELINA (Helicopter-launched NAG) Weapon System ‘Dhruvastra’ are set to be inducted into the Indian army and Indian Air Force (IAF).
Which company manufactures the Nag ATGM and Helina (Dhruvastra) missiles?
1) Bharat Heavy Electricals Limited
2) Bharat Electronics Limited
3) Hindustan Aeronautics Limited
4) Bharat Dynamics Limited
5) Mishra Dhatu Nigam LimitedAnswer-4) Bharat Dynamics Limited
Explanation:
India’s indigenous Nag Anti-Tank Guided Missile (ATGM) and the variant of HELINA (Helicopter-launched NAG) Weapon System called ‘Dhruvastra’ are set to be inducted into the Indian army and Indian Air Force (IAF) after clearing all the trials.
• Both the Nag ATGM and Helina (Dhruvastra) missiles are developed by Defence Research and Development Organisation (DRDO) and manufactured by Bharat Dynamics Limited(BDL).
i. Nag is the surface-to-air missile and Dhruvastra is the air-to-surface missile. NAG, also known as Prospina, is a third generation Anti-Tank Guided Missile with Fire and Forget top attack capability.
• The Nag has an operational range of up to 4 km and is armed with a tandem High-Explosive Anti-Tank (HEAT) warhead.
ii. Helina is an Air to Surface Missile system launched from Advanced Light Helicopter (ALH). ALH is fitted with two Twin launchers, one on each side, each carrying eight missiles.
• It has the operational range up to 7km and length of 1.946m, and a diameter of 0.150m. - Which country’s goalkeeper Gianluigi Buffon has recently (in August ‘23) announced his retirement from football?
1) Portugal
2) Argentina
3) Italy
4) Spain
5) FranceAnswer-3) Italy
Explanation:
On 2nd August 2023, Italian goalkeeper Gianluigi Buffon (45 years old) announced his retirement from football. He was part of the Federation Internationale de Football Association(FIFA) World Cup winning Italian team in 2006 in Germany (against France).
• He retired from international football in 2018 after Italy failed to qualify for the 2018 FIFA World Cup in Russia.
• He was awarded the FIFA’s best men’s Goalkeeper award in 2017.He earned nicknames including ‘superman’ and ‘Gigi’.
• He was also the first ever goalkeeper to win the Golden Foot Award in 2016. He was part of the FIFPro World11 three times (2006,2007,2017).
• The FIFA FIFPRO Men’s World 11 is composed of the best 11 men’s players from around the globe. - Name the state government that has recently (in August’ 23) launched the Amrit Brikshya Andolan app & Wood-based Industry (WBI) registration web portal.
1) West Bengal
2) Mizoram
3) Assam
4) Odisha
5) Uttar PradeshAnswer-3) Assam
Explanation:
On 2nd August 2023, Assam Chief Minister (CM) Himanta Biswa Sarma launched the Amrit Brikshya Andolan web portal/mobile application, the theme song for the Amrit Brikshya Andolan and the Wood-based Industry (WBI) registration web portal at the event held at Janata Bhawan in Guwahati, Assam.
i. Amrit Brikshya Andolan is a massive tree plantation drive that aims to plant one crore commercial saplings across Assam on 17th September 2023 which provides a major boost to Assam’s green economy and will help against climate change and also increase the income of Assam’s farmers.
ii. The Government of Assam aims to plant 3 crore commercially-viable saplings in 2024 and increase the target to 5 crore saplings in 2025.
iii. A website for registration of the WBI was also launched for ease of doing business in the sector.
- Which of the following points is/are “Incorrect” with respect to the status of Central Public Sector Enterprises (CPSEs), as of August 2023?
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