Current Affairs Quiz:17 July 2024

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1. Which ministry/organisation has recently (in July ‘24) launched the ‘GearShift Challenge’ to boost Zero-Emission Truck adoption in India?
   1) National Highways Authority of India
   2) Ministry of Road Transport and Highways
   3) Defence Research and Development Organisation
   4) Ministry of Science and Technology
   5) NITI Aayog
   
   Answer & Explanation

   Answer-5) NITI Aayog
   Explanation:
   The NITI Aayog (National Institution for Transforming India) launched  NITI GearShift Challenge as part of the e-FAST India initiative. This aims to foster innovative business models for the adoption of Zero-Emission Trucks (ZETs) in India.
     The challenge was launched in collaboration with Operations Management Club (OMC) of the Indian Institute of Management (IIM) Bangalore (Bengaluru, Karnataka), Smart Freight Centre India, CALSTART/Drive to Zero, and WRI India.
    The NITI GearShift Challenge invites students, transport service practitioners, academics, and researchers, to join the hackathon organised as part of Vista 2024: IIM Bangalore’s International Business Summit.
    This hackathon aims to foster innovative business models for adopting ZETs in India’s freight sector.
   
   
   
2. Name the portal that was recently (in July ‘24) launched by the Ministry of Development of North Eastern Region (MDoNER) to integrate farmers and sellers in the North Eastern Region.
   1) Krishi Katha
   2) Van Mitra
   3) NERACE
   4) Krishi Rakshak
   5) eNAM
   
   Answer & Explanation

   Answer-3) NERACE
   Explanation:
   The Union Minister Jyotiraditya Scindia, Ministry of Development of North Eastern Region (MDoNER), launched the North East Region Agri Commodity E-Connect (NERACE) App and Web Portal (https://nerace.in/) to integrate farmers and sellers, enhancing agricultural connectivity in the North Eastern Region (NER).
    The initiative aims to connect 50,000 farmers and 5,000 buyers over the next five years.
    It operates as a unique Farm to Business (F2B) marketplace, facilitating price negotiation, bookings, and real-time product availability cross over 50 crop categories.
    It supports agricultural and horticultural products, enhancing profitability of high-value agro-horticultural products.
   
   
   
3. On 15th July 2024, the Ministry of Skill Development and Entrepreneurship (MSDE) commemorated the _______ anniversary of the Skill India Mission.
   1) 5th
   2) 25th
   3) 10th
   4) 15th
   5) 9th
   
   Answer & Explanation

   Answer-3) 10th
   Explanation:
   Ministry of Skill Development and Entrepreneurship (MSDE), Government of India (GoI) commemorated the 10th anniversary of the Skill India Mission on 15th July, 2024.
    Union Minister of State (MoS) (Independent Charge) Jayant Chaudhary attended an open house dialogue, “Kaushal Samwaad” organised by MSDE, to celebrate World Youth Skills Day(WYSD), coincided with anniversary of the Skill India Mission.
    Prime Minister (PM) Narendra Modi launched the Skill India Mission in 2015 in accordance with his vision to help India to become ‘Aatmanirbhar’ (self-reliant).
    World Youth Skills Day is observed annually  across the world on 15th July. Theme for WYSD 2024: “Youth Skills for Peace and Development”.Click here to read more
   
   
   
4. Which organisation recently (in July ‘24) released a report ‘World Population Prospects 2024’ stating that India‘s population is expected to peak at about 1.701 billion in 2062?
   1) United Nations Educational, Scientific and Cultural Organisation (UNESCO)
   2) United Nations Department of Economic and Social Affairs (UN DESA)
   3) United Nations Development Programme (UNDP)
   4)  United Nations General Assembly (UNGA)
   5) United Nations Population Fund (UNFPA)
   
   Answer & Explanation

   Answer-2) United Nations Department of Economic and Social Affairs (UN DESA)
   Explanation:
   According to the World Population Prospects 2024 published by the Population Division of the United Nations Department of Economic and Social Affairs (UN DESA), India‘s population is expected to peak at about 1.701 billion in 2062 and then decline by 12% between January and July 2062.
    Currently, India is the most populous country in the world with 1.45 billion people and is likely to remain so until 2100.
    India is followed by China at the 2nd place with a population of 1.419 billion and the United States of America (USA) at the 3rd place with a population of 345 million.
    In 2054, India’s current projected population will peak at 1.69 billion and will start declining in 2062.
    India’s population is projected to decline to 1.5 billion by the end of the century in 2100.Click here to read more
   
   
   
5. In July 2024, India signed a MoU with __________(country) to provide Grant-In-Aid (GIA) for the Implementation of four Community Development Projects (CDPs).
   1) Sri Lanka
   2) Tuvalu
   3) Marshall Islands
   4) Mauritius
   5) Solomon Islands
   
   Answer & Explanation

   Answer-3) Marshall Islands
   Explanation:
   On 15 July 2024, India signed a Memorandum of Understanding (MoU) with the Republic of the Marshall Islands (RMI) on the annual Grant-In-Aid (GIA) for the Implementation of 4 Community Development Projects (CDPs) in the RMI, at the Embassy of India in Tokyo, Japan.
    It is part of India’s Pacific outreach. India is also working on providing desalination and dialysis units to address healthcare needs in the RMI.
    The MoU marks a milestone in expanding bilateral ties under the Forum of India-Pacific Islands Cooperation (FIPIC), which serves as a platform for India to engage with the Pacific Island nations.
    The MoU covers projects including a community sports center in Ailuk Atoll, an airport terminal on Mejit Island, and community centers at Arno and Wotje Atolls.
    These projects are aimed at improving the lives of RMI citizens through India’s grant assistance.
   
   
   
6. In July 2024, the Securities and Exchange Board of India (Sebi) revised norms on investments by passively managed ________________ schemes in the group companies of their sponsors.
   1) Alternative Investment Fund
   2) Mutual Fund
   3) Foreign Portfolio Investment
   4) Index Fund
   5)  Commodity Fund
   
   Answer & Explanation

   Answer-2) Mutual Fund
   Explanation:
   The Securities and Exchange Board of India (SEBI) has introduced new rules impacting investments by passively managed Mutual Fund(MF) schemes in the group companies of their sponsors.
    Aim: To simplify and ease compliances by MF by streamlining norms related to passive schemes with respect to exposure to securities of group companies of the sponsor.
    As per SEBI new rules, passive MF, except for equity-oriented Exchange Traded Funds (ETFs) and index funds, are now restricted from investing more than 25% of their net assets in listed securities of companies belonging to the sponsor group.
    For equity-oriented ETFs and index funds based on widely tracked and non-bespoke indices can now invest up to 35% of their Net Asset Value (NAV) in the sponsor’s group companies only if the investments align with weightage of the constituents of the underlying index.
   
   
   
7. Who has recently (in July ‘24) won the Golden Sand Master Award with a gold medal at the International Sand Sculpture Championship/Festival 2024 held in Russia?
   1) Vinod Ganatra
   2) Siddesh Sakore
   3) Sudarsan Pattnaik
   4) Purnima Devi Barman
   5) Shrinivas Ramchandra Kulkarni
   
   Answer & Explanation

   Answer-3) Sudarsan Pattnaik
   Explanation:
   Sudarsan Pattnaik (Odisha), Indian Sand Artist has won the Golden Sand Master Award with a gold medal at the International Sand Sculpture Championship/Festival 2024 held in St. Petersburg, Russia.
    The International Sand Sculpture Championship, held between July 4th to 12th 2024, had a theme of ‘History, Mythology, and Fairy Tales’.
    A total of 21 World Sand Masters around the world participated in the Championship, with Pattnaik being the sole participant from India.
    In 2014, he was awarded Padma Shri by Government of India(GoI) for his contribution in Sand Arts.
   
   
   
8. Who has been recently (in July ‘24) appointed as the co-chair of the Alliance of CEO Climate Leaders?
   1) Hima Kohli
   2) Sumant Sinha
   3) Kamal Kishore Soan
   4) Subhransu Sekhar Acharya
   5) Ashok Vaswani
   
   Answer & Explanation

   Answer-2) Sumant Sinha
   Explanation:
   Sumant Sinha, Chairman and Chief Executive Officer (CEO) of Renewable energy solutions provider ReNew Energy Global PLC (ReNew) has been appointed as co-chair of Alliance of CEO Climate Leaders in the world.
    Sinha has also been Co-Chair of the India part of the Alliance since 2022. He joins a group of international business leaders in this role, collaborating with eminent figures such as: Ester Baiget, CEO of Novonesis, and Jesper Brodin, CEO of Ingka Group Ikea.
    He will work closely in an alliance comprising 130 member CEOs from 12 different industries across 26 different countries.
    Alliance of CEO Climate Leaders is a flagship initiative of World Economic Forum (WEF) which was launched in 2014. It is the largest CEO-led climate alliance in the world.
   
   
   
9. Name the European Space Agency(ESA)’s new heavy-lift rocket that has been recently (in July 2024) launched into space for the first time from Europe’s Spaceport in French Guiana.
   1) SR75
   2) New Shepard
   3) Shenzhou
   4) Fatah-II
   5) Ariane 6
   
   Answer & Explanation

   Answer-5) Ariane 6
   Explanation:
   Ariane 6, European Space Agency(ESA)’s new heavy-lift rocket, has been launched into space for the first time from Europe’s Spaceport in Kourou, French Guiana, an overseas department of France in South America.
    The 63 metres tall rocket was developed at an estimated cost of 4 billion euros by ArianeGroup, a joint venture of Airbus and Safran.
    Ariane-6 is a project of the 13 member states of ESA, led by France 56% and Germany 21%. The 13 partners have offered annual subsidy payments of up to 340 million euros to help the early stages of Ariane-6 exploitation.
   
   
   
10. Which of the following has recently (in July 2024) become India’s first Neobank to offer personal loan solutions through the Open Network for Digital Commerce (ONDC)?
    1) Jupiter Money
    2) Epifi Technologies Private Limited
    3) Revolut India
    4) BranchX India Private Limited
    5) Fampay Solutions Private Limited
    
    Answer & Explanation

    Answer-4) BranchX India Private Limited
    Explanation:
    Mumbai (Maharashtra) based BranchX India Private Limited, a leading neobank innovator, has launched India’s first personal loan solution through the Open Network for Digital Commerce (ONDC) which marks the significant step towards financial inclusion for India’s 1.4 billion people.
     It mainly focuses on the young professionals, small business owners, and entrepreneurs who face hurdles in acquiring loans from traditional ways, replaced with a paperless experience.
     The ONDC framework is an initiative by the Indian government to democratise digital commerce which forms the backbone of BranchX’s cutting-edge lending solution.