AffairsCloud brings you the complete and important daily Current Affairs Quiz 8 September 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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- Which of the following points is/are “correct” with respect to the cabinet approval in September 2023?
A) Cabinet approved a scheme for Viability Gap Funding (VGF) of Rs.3,760 crore for Development of Battery Energy Storage Systems (BESS).
B) The Cabinet approved an additional amount of Rs. 1164.53 crore for the Industrial Development Scheme (IDS), 2017, for Uttar Pradesh and Bihar.
C) The Union Ministry of Home Affairs (MHA) has approved a proposal from Puducherry to implement a 10% quota for students studying in government schools in medical admissions.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-4) Only A & C
Explanation:
The Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the following proposals on 6th September, 2023:
• The Union Cabinet has approved a scheme for Viability Gap Funding (VGF) aimed at developing Battery Energy Storage Systems (BESS). The scheme is part of the government’s efforts to enhance renewable energy integration and reduce peak power demand costs. It was first introduced in the Union Budget 2023. Total project outlay: Rs.9,400 crore.
• Government contribution: 40% of the total project cost, amounting to Rs.3,760 crore, provided as VGF. Remaining 60% of project costs to be invested by participating companies.
• The Cabinet approved an additional amount of Rs. 1164.53 crore for the Industrial Development Scheme (IDS), 2017, for Himachal Pradesh and Uttarakhand. The Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade, proposed the allocation of additional funds under the Central Sector Scheme for Industrial Development Scheme 2017 for Himachal Pradesh and Uttarakhand.
• The Union Ministry of Home Affairs (MHA) has approved a proposal from Puducherry to implement a 10% quota for students studying in government schools in medical admissions in Puducherry. The Centralised Admission Committee (CENTAC) is responsible for finalizing the list of students for admission to various higher education courses.
• Eligibility: For NEET-qualified students who have studied from Class I-XII in government-run schools in Puducherry. - In which city, India’s first 500 Kilo-volt-amperes (kVA) Underground Power Transformer Station was inaugurated in September 2023?
1) Kadapa, Andhra Pradesh
2) Jodhpur, Rajasthan
3) Chennai, Tamil Nadu
4) Bengaluru, Karnataka
5) Kurnool, Andhra PradeshAnswer-4) Bengaluru, Karnataka
Explanation:
On 5th September 2023, K J George, Minister of Energy, Government of Karnataka, inaugurated India’s first 500 Kilo-volt-amperes (kVA) Underground Power Transformer Station on 15th Avenue in Malleswaram, Bengaluru (Karnataka).
i. This facility was developed in collaboration with Bengaluru Electricity Supply Company Limited (BESCOM) and Bruhat Bengaluru Mahanagara Palike (BBMP) at a cost of Rs 1.9 crore.
ii. Electricity related works are done by BESCOM and civil works by BBMP - Which country’s Navy, along with Indian Navy (IN) has recently (in Sept ‘23) conducted a Passage Exercise (PASSEX)?
1) Indonesia
2) Sri Lanka
3) Bangladesh
4) France
5) KazakhstanAnswer-2) Sri Lanka
Explanation:
The Indian Navy (IN) and Sri Lanka Navy(SLN) jointly conduct a Passage Exercise (PASSEX) off the coast of Colombo, Sri Lanka.
• Indian Naval Ship(INS) Delhi and SLN Ship Vijayabahu participated in the Exercise.
• The Exercise took place during a two-day visit of INS Delhi to Sri Lanka from 1st to 3rd September 2023.
• INS Delhi is the Indian Navy’s first indigenously designed and built guided missile destroyer built by Mazagon Dock Limited in Mumbai, Maharashtra.
• TheCommander of INS Delhi, Captain Abhishek Kumar, and the crew of INS Delhi paid respects at the Indian Peace Keeping Force(IPKF) memorial of Indian soldiers who laid their lives in Sri Lanka during IPKF operations from 1987-91. - According to Asian Development Bank (ADB)’s 2023 Trade Finance Gaps, Growth and Jobs Survey released in September 2023, the global trade finance gap rose to ______________ in 2022.
1) USD 5.0 trillion
2) USD 4.5 trillion
3) USD 3.2 trillion
4) USD 2.5 trillion
5) USD 1.2 trillionAnswer-4) USD 2.5 trillion
Explanation:
According to Asian Development Bank (ADB)’s 2023 Trade Finance Gaps, Growth and Jobs Survey (8th edition), the global trade finance gap rose to USD 2.5 trillion in 2022 (10% of global merchandise trade) from USD 1.7 trillion in 2020 and USD 1.5 trillion in 2018.
• This indicates that the global economy is still struggling to rebound from the effects of COVID -19 pandemic.
• The trade finance gap is the difference between requests and approvals for financing to support imports and exports.
• The 2023 trade gaps survey focuses on environmental, social, and governance (ESG) issues for the first time (along with digitalization), to evaluate the impact on relevant supply chains and the trade finance gap. - Which of the following points is/are “correct” with respect to the 5th Annual General Meeting (AGM) of REC Limited held in August 2023?
A) REC Limited is committed to increase its green project loan portfolio to Rs 5 lakh crore by 2025, representing more than a 10-fold increase.
B) REC Limited raised USD 1.15 billion in two tranches from a consortium of six banks as Mandated Lead Arrangers and Bookrunners (MLABs) under its Market Borrowing Programme of Rs. 1.20 lakh crore for 2023-24.
C) REC Limited secured a Foreign Currency Term Loan of USD 100 million from EXIM Bank of India.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-3) Only B & C
Explanation:
On September 6, 2023, the 5th Annual General Meeting (AGM) of REC Limited (formerly Rural Electrification Corporation Limited) was held via Video Conferencing. The Meeting was chaired by its Chairman & Managing Director (CMD) Vivek Kumar Dewangan.
i. Highlights from AGM:
• REC Limited is committed to increase its green project loan portfolio to Rs 3 lakh crore by 2030, representing more than a 10-fold increase.
• The Ministry of Power has granted REC the authority to provide loans to non-power infrastructure and logistics sectors, contributing to India’s development.
• REC Limited raised USD 1.15 billion in August 2023 in two tranches from a consortium of six banks as Mandated Lead Arrangers and Bookrunners (MLABs) under its Market Borrowing Programme of Rs. 1.20 lakh crore for 2023-24.
• REC Limited secured a Foreign Currency Term Loan of USD 100 million from EXIM (Export Import) Bank of India. This is the first term loan being extended by Exim Bank to REC. - Name the company that has recently (in Sept ‘23) partnered with the KredX (Minions Ventures Private Limited) to make Business-to-Business (B2B) digital payments rewarding for both enterprises and vendors.
1) Visa
2) American Express
3) Mastercard
4) Capital One
5) Discover CardAnswer-3) Mastercard
Explanation:
KredX(Minions Ventures Private Limited), India’s largest supply chain finance platform, partnered with Mastercard, Inc., the second largest payment processing company across the globe, to make Business-to-Business (B2B) digital payments rewarding for both enterprises and vendors.
i. Under this partnership, Mastercard will integrate its commercial card service with the KredX platform, eliminating the complexities associated with B2B payments, especially those involving cards.
ii. The platform with features like dynamic discounting, early payment options, and price discovery mechanisms will enable enterprises and vendors to enhance their cash flows..
iii. Powered by Artificial Intelligence (AI), the platform serves as an end-to-end procure-to-pay solution for businesses, helping them with faster and more efficient matching and processing of invoices. - Which company has recently (in Sept ‘23) launched ‘SimplySAVE Merchant Card’, a Credit Card for Micro, Small, and Medium Enterprises (MSMEs)?
1) HDFC Cards
2) SBI Cards
3) American Express
4) Visa Inc
5) MastercardAnswer-2) SBI Cards
Explanation:
SBI Cards & Payment Services Limited (SBI Card), India’s largest pure-play credit card company, launched ‘SimplySAVE Merchant SBI Card’, a Credit Card for Micro, Small, and Medium Enterprises (MSMEs). The card has been designed to offer interest-free short-term credit options for MSME merchants and other exclusive benefits.
i. SimplySAVE Merchant SBI Card was unveiled by Mr. Dinesh Khara, Chairman, State Bank of India (SBI) at Global Fintech Fest in Mumbai, Maharashtra.
ii. This card will address the need for easy and timely access to formal credit by providing interest-free short-term credit to MSMEs.
iii. This card is available on the RuPay network and can also be linked to the Unified Payments Interface (UPI) for payments through various UPI-enabled third-party apps. - When was the United Nations (UN) International Day of Clean Air for Blue Skies 2023 observed across the globe with the theme of ‘Together for Clean Air’?
1) 3rd September 2023
2) 4th September 2023
3) 5th September 2023
4) 6th September 2023
5) 7th September 2023Answer-5) 7th September 2023
Explanation:
The United Nations (UN) International Day of Clean Air for Blue Skies also known as World Clean Air Day 2023 was observed across the globe on 7th September 2023 with the theme of “Together for Clean Air”.
i. 7th September 2023 marks the 4th annual observance of the International Day of Clean Air for Blue Skies.
ii. The World Health Organization (WHO) has developed the 1st Air Pollution and Health Training toolkit (APHT), in collaboration with over 30 international experts, specifically tailored for health workers. The APHT is set to be released at the end of 2023. - Name the state government that has recently (in Sept ‘23) signed an MoU with National Central Cooling Company PJSC (Tabreed) to develop Asia’s largest District Cooling System (DCS).
1) West Bengal
2) Karnataka
3) Madhya Pradesh
4) Telangana
5) HaryanaAnswer-4) Telangana
Explanation:
The government of Telangana have signed a Memorandum of Understanding (MoU) with National Central Cooling Company PJSC (Tabreed), Abu Dhabi(United Arab Emirates-UAE) based cooling-as-a-service provider, to develop Asia’s largest District Cooling System (DCS) in Hyderabad, Telangana.
• Tabreed is set to invest USD 200 million to develop 1,25,000 refrigeration tons (RT) of cooling infrastructure for the Hyderabad Pharma City(HPC), Telangana.
• The project is being taken up on a Public Private Partnerships(PPP) basis
i. Telangana government has also signed a MoU with Tabreed to explore district cooling infrastructure in existing and upcoming commercial districts of Cyberabad in Hyderabad and other mixed-use development areas that offer the potential to reduce over 200 Megawatt (MW) of peak electricity demand. - Which State Government has recently (in Sept ‘23) approved the proposal of Mukhyamantri Rajya Samajik Suraksha Pension Yojana for transgender community and included under the other backward class (OBC) category?
1) Odisha
2) Maharashtra
3) Jharkhand
4) West Bengal
5) Madhya PradeshAnswer-3) Jharkhand
Explanation:
Jharkhand Cabinet chaired by Chief Minister(CM) Hemant Soren approved to include the transgender community under its universal pension scheme ‘Mukhyamantri Rajya Samajik Suraksha Pension Yojana’ and avail the financial aid of Rs 1000 per month.
• Those who are 18 years of age or above and have voter ID cards will be eligible for the scheme.
i. The cabinet has also approved including them under the other backward class (OBC) category to ensure they avail the benefits of reservation in government jobs.
ii. Those who are not covered by any caste reservation will be included in the OBC category at number 46 in the list.
- Which of the following points is/are “correct” with respect to the cabinet approval in September 2023?
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