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Current Affairs Quiz:10 December 2024

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Ashwin AC
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  1. H.E. Abdullah Ali Al Yahya, Minister of Foreign Affairs of the State of Kuwait, paid a visit to India from 3 to 4 December 2024
    During the visit, India and Kuwait signed a Memorandum of Understanding (MoU) to establish a __________________________.
    1) Strategic Partnership Council
    2) Cultural Exchange Program
    3) Defence Cooperation Company
    4) Investment and Energy Cooperation
    5) Joint Commission for Cooperation
    Answer-5) Joint Commission for Cooperation
    Explanation:
    H.E. Abdullah Ali Al Yahya, Minister of Foreign Affairs of the State of Kuwait, arrived in New Delhi(Delhi) paid a visit to India from December 3 to December 4, 2024 at the invitation of Union Minister Dr. S. Jaishankar, Ministry of External Affairs (MEA).
     This marked his first official trip to India in this capacity, highlighting the strong and evolving ties between the two nations.
     A key highlight of H.E. Abdullah Ali Al Yahya’s visit to India was the bilateral meeting with External Affairs Minister (EAM) Dr. S. Jaishankar at Hyderabad House, New Delhi (Delhi).
     During the meeting, the leaders conducted a comprehensive review of India-Kuwait relations,  focusing on several critical areas: Political and trade ties, Investment and energy cooperation, Food security and Cultural and people-to-people exchanges.
     One of the key outcomes of the visit was the signing of a Memorandum of Understanding (MoU) to establish a Joint Commission for Cooperation (JCC).
     The JCC aims to streamline collaboration and ensure regular monitoring of bilateral engagements across diverse fields.
     Under the JCC framework, New Joint Working Groups will be set up in sectors like trade, investment, education, technology, agriculture, security, and culture.

  2. As per NITI Aayog’s recent (in December ‘24) report “Trade Watch Quarterly: April-June (Q1) Y25”, India’s total trade performance for the 1st Half (H1) of 2024 reached __________________  with Year-on-Year (Y-o-Y) growth of 5.45% compared to 2023.
    1) USD 369 billion
    2) USD 421 billion
    3) USD 576 billion
    4) USD 617 billion
    5) USD 753 billion
    Answer-3) USD 576 billion
    Explanation:
    On 4th December 2024, Suman Bery, the Vice Chairperson of National Institution for Transforming India (NITI Aayog) launched NITI Aayog’s latest report titled “Trade Watch Quarterly: April-June (Q1) Y25” in New Delhi, Delhi. The report provides a comprehensive overview of the country’s trade for the Q1 of Financial Year 2024-25 (FY25).
     The report provides a holistic snapshot of India’s trade position, combining global demand-supply perspectives, sector-wise performance, and insights into emerging trade opportunities.
     As per the report, India’s total trade performance for the 1st Half (H1) of 2024 reached USD 576 billion  with Year-on-Year (Y-o-Y) growth of 5.45% compared to 2023.
     The report highlighted that merchandise exports showed consistent growth as exports has increased by 5.95% to USD 110 billion in Q1FY25.In Q1 FY25, the leading sectors were mineral fuels (19.96%), electrical machinery and equipment (8.68%), and nuclear reactors (7.30%).
     The report outlined that India’s Current Account Deficit (CAD) reached to USD 9.7 billion in Q1FY25, representing 1.1% of country’s GDP, from USD 8.9 billion (1% of GDP) in the same quarter of FY24.
     India’s export of iron and steel saw a massive decline of 33% in Q1FY25 mainly due to weak domestic demand and excess capacity in China which resulted in an oversupply of steel in global markets.
     The report showed that India’s Trade Intensity Index (TII) score was greater than 1 with 84 countries, which represented 38.82% of global GDP and 67% of its total exports in 2023. Click here to read more.

  3. Which bank has recently (in November ‘24) released the report International Debt Report (IDR) 2024 stating that India’s total external debt has increased by USD 31 billion to USD 646.79 billion in 2023?
    1) World Bank
    2) Asian Development Bank
    3) Reserve Bank of India
    4) New Development Bank
    5) European Investment Bank
    Answer-1) World Bank
    Explanation:
    According to the World Bank’s latest International Debt Report (IDR) 2024, India’s total external debt has increased by USD 31 billion to USD 646.79 billion in 2023.The report revealed that interest payment increased from USD 15.08 billion (in 2022) to USD 22.54 billion (in 2023).
     As per the report, the total external debt owed by all Low-and-Middle-Income Countries (LMICs) reached a record USD 8.8 trillion, which marks an increase of 8% over 2020.
     While, the debt for the International Development Association (IDA)-eligible nations touched to USD 1.1 trillion, an increase of approximately 18%.
     As per the report, the long-term debt stocks have increased by 7% to USD 498 billion in 2023, while short-term debt stocks decreased marginally to USD 126.32 billion in 2023.
     The report showed that external debt stock as percentage of exports was 80%, while debt servicing 10% exports in 2023.
     The report further revealed that net debt inflows was USD 33.42 billion, while the net equity inflows was higher at USD 46.94 billion in 2023.
     On 3rd December 2024, the World Bank approved a USD 188.28 million loan to Maharashtra in order to boost its economy, particularly in underdeveloped districts of the state.
     As per this loan arrangement, Maha Databank, a data governance framework will be created to address development challenges, including gender disparities. Click here to read more.

  4. In December 2024, the Government of India (GoI) and the Asian Development Bank (ADB) signed a USD 50 million loan agreement to improve water security and climate resilience in which state?
    1) Nagaland
    2) Haryana
    3) Meghalaya
    4) Uttar Pradesh
    5) Himachal Pradesh
    Answer-3) Meghalaya
    Explanation:
    On December 5 2024, the Government of India (GoI) and the Asian Development Bank (ADB) signed a significant USD 50 million loan agreement to enhance water security and climate resilience in Meghalaya.
     The Climate-Adaptative Community-Based Water-Harvesting Project aims to address water scarcity, improve agricultural productivity and strengthen community resilience to climate change through advanced water harvesting systems.
     The project aligned with the Meghalaya State Water Policy (MSWP) 2019 will integrate climate adaptation strategies into water resource management.
     The project will create 3,000 hectares of reliable irrigation areas benefiting local farmers and enhancing agricultural productivity.
     The initiative will focus on the construction of 532 small water storage facilities across 12 districts in Meghalaya.
     The project will pilot renewable energy micro hydropower systems in 3 water harvesting facilities offering sustainable energy solutions to local communities.

  5. Which bank has recently (in December ‘24) introduced the ‘ARISE Women’s Savings Account’, a specialized solution to empower women financially?
    1) RBL Bank Limited
    2) Axis Bank Limited
    3) Federal Bank Limited
    4) HDFC Bank Limited
    5) ICICI Bank Limited
    Answer-2) Axis Bank Limited
    Explanation:
    On December 5 2024, Axis Bank Limited, one of India’s leading private sector banks, introduced the ‘ARISE Women’s Savings Account’, a specialized solution aimed at empowering women financially.
     It was launched by Arundhati Bhattacharya, Chairperson and Chief Executive Officer (CEO) of Salesforce India Private Limited in the presence of Amitabh Chaudhry, Managing Director (MD) & CEO, Axis Bank and Munish Sharda, Executive Director of Axis Bank.
     This account provides an array of exclusive benefits, including access to women specific financial experts, personalized investment options, healthcare discounts, and much more.
     Extend benefits to family members, with the option to link children’s accounts without initial funding.
     Account holders also receive the ARISE Debit Card offering higher transaction limits with Rs.5 lakhs on Point of sale (POS) and Rs.1 lakh at Automated Teller Machine (ATM). It also provides rewards  as well as a Complimentary Non Equity Option (NEO) Credit Card with discounts on services like BookMyShow and Zomato.
     Healthcare benefits are comprehensive with discounts of up to 70% on diagnostic tests, unlimited consultations with top hospital experts and access to wellness programs.

  6. India was recently (in December ‘24) honored with the ISSA _______________ Award for Asia and Pacific 2024 award in the Regional Social Security Forum in Riyadh, Saudi Arabia.
    1) Good Practice
    2) Excellence in Social Security
    3) Global Fintech
    4) Global Prestige
    5) Leadership in Social Welfare
    Answer-1) Good Practice
    Explanation:
    On December 3 2024, India was honored with the prestigious International Social Security Association (ISSA) Good Practice Award for Asia and Pacific 2024. The award was presented by Dr. Mohammed Azman, President of ISSA during the Regional Social Security Forum held from December 3 to 5, 2024 in Riyadh, Saudi Arabia.
     The Employees’ Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment (MoL&E) has received 5 Certificates of Merit (CoM) for its innovative and inclusive social security initiatives and Special Mention for its Digital Life Certificate (Jeevan Pramaan Patra).
     EPFO has adopted the ISSA Guidelines on Communication by Social Security Administrations by developing a comprehensive Communication Framework Document (CFD).
     EPFO has introduced E-proceedings to digitize judicial inquiries to ensure regular compliance, which is a crucial aspect of a contributory social security system.
     EPFO received a Special Mention for Digital Life Certificate or Jeevan Pramaan Patra, is an additional facility which enables the pensioners to file their Life Certificates through a biometric authentication system that is Aadhaar-based. Click here to read more.

  7. In December 2024, Devendra Fadnavis was sworn in as ________ Chief Minister (CM) of Maharashtra; ____________________ and Ajit Pawar as Deputy CM.
    1) 21st, Eknath Shinde
    2) 20th, Rahul Narwekar
    3) 19th, Nana Patole
    4) 18th, Ajay Choudhari
    5) 17th, Vijay Wadettiwar
    Answer-1) 21st, Eknath Shinde
    Explanation:
    On December 5 2024, Devendra Fadnavis, leader of the Bharatiya Janata Party (BJP), was sworn in as 21st Chief Minister (CM) of Maharashtra, marking his 3rd term following the Mahayuti alliance’s victory. The BJP-Shiv Sena-NCP Mahayuti coalition has a majority of 230 seats in the 288-members in the Maharashtra Assembly election held in November 2024.
     Maharashtra’s Governor CP Radhakrishnan administered the oath of office at a grand ceremony held at Azad Maidan in Mumbai, Maharashtra.
     Eknath Shinde of Shiv Sena and Ajit Pawar of the Nationalist Congress Party (NCP) also took their oaths as Deputy CM of Maharashtra.
     He was first elected to the Maharashtra Legislative Assembly in 1999. He was selected as the CM of Maharashtra for the first time in 2014 and remained till 2019.
     He served as the Deputy CM of Maharashtra, alongside Ajit Pawar in the Eknath Shinde government.

  8. In December 2024, Indian Space Research Organisation (ISRO) launched the European Space Agency’s (ESA) Proba-3 mission in Andhra Pradesh(AP).
    The Proba-3 mission consists of two satellites – ___________________ and _____________.
    1) Light Blocker and Observer
    2) Coronagraph and Occulter
    3) Large Yield Radiometer and Langmuir probe
    4) Eclipse Observer and Sun Tracker
    5) Sun Watcher and Image Processor
    Answer- 2) Coronagraph and Occulter
    Explanation:
    On December 5 2024, the Indian Space Research Organisation (ISRO) successfully launched the European Space Agency’s (ESA) Proba-3 mission from the First Launch Pad (FLP), Satish Dhawan Space Centre, Sriharikota, Andhra Pradesh(AP) using the highly reliable Polar Satellite Launch Vehicle (PSLV)-XL rocket. This was the world’s first precision formation-flying mission.
     This mission aims to enhance our understanding of the Sun’s corona, the outer layer of its atmosphere, and marks a significant collaboration between the ISRO and the ESA.
     Proba-3’s launch marks the first ESA mission to fly with an ISRO launcher since the Proba-1 mission in 2001 and is expected to operate for two years.
     Proba-3 is a technology demonstration mission funded under ESA’s General Support Technology Programme. It is designed to show precise formation flying, and its launch was facilitated by NewSpace India Ltd. (NSIL), the commercial arm of ISRO.
     The Proba-3 mission consists of two satellites – Coronagraph (310 kilogram(kg)) and Occulter (240 kg) which are designed to study the Sun’s corona, the outermost layer of its atmosphere by creating artificial solar eclipses in space.
     These twin satellites will function in a precise formation, maintaining a distance of 150m apart while flying together.
     This unique arrangement allows the Occulter to block out the Sun’s bright disk, which will enable the Coronagraph to observe the faint corona in more detail.
     During active formation flying, the Coronagraph will act as the leader, equipped with a hydrazine propulsion system while the Occulter spacecraft will follow, using cold gas thrusters to maintain its position.

  9. Which among the following species was recently (in November ‘24) discovered in Meghalaya and named Raorchestes asakgrensis?
    1) Snake
    2) Crocodile
    3) Frog
    4) Butterfly
    5) Spider
    Answer-3) Frog
    Explanation:
    Meghalaya’s biodiversity has gained global recognition with the discovery of a new frog species, Raorchestes asakgrensis, in the Eman Asakgre Community Reserve. The species is named after the Eman Asakgre Community Reserve, honoring the local community’s support during the research in biodiversity conservation.
     The Newly Discovered Raorchestes asakgrensis was found at an elevation of 174 meters in Eman Asakgre, this small arboreal frog is distinctive for its pointed snout and visible tympanum.
     The discovery was published in Herpetozoa, the international Journal.
     Males measure about 20.49 mm in snout-vent length, with females slightly larger at 22.8 mm. Males call from shrubs at dusk, perched 1.5 meters or higher, with calling activity peaking after the first monsoon rains.
     This study, supported by the National Mission on Himalayan Studies and the Stiftung Artenschutz Amphibian Conservation Fund, highlights the crucial role of community reserves in safeguarding biodiversity.

  10. When is World Soil Day (WSD) observed annually across the globe?
    1) December 5
    2) November 5
    3) September 29
    4) March 22
    5) June 5
    Answer-1) December 5
    Explanation:
    The United Nations (UN’s) World Soil Day (WSD) is observed annually across the globe on 5th December to raise awareness about the critical importance of healthy soil and promote the sustainable management of soil resources.
     The theme of WSD 2024 is “Caring for soils: measure, monitor, manage”.
     The first ever WSD was observed on 5th December 2014.
     The 2024 King Bhumibol World Soil Day Award was presented by the Food and Agricultural Organization of the United Nations (FAO) to the Water and Soil Department of the Ministry of Agriculture Jahad of the Islamic Republic of Iran.
     The 2024 Glinka Prize was given to the Land Development Department (LDD), Ministry of Agriculture and Cooperatives of Thailand. Click here to read more.





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