AffairsCloud brings you the complete and important daily Current Affairs Quiz 24 May 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 2024 updates.
Our Current Affairs May 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.
- In May 2024, Air Chief Marshal Vivek Ram Chaudhari inaugurated the first-ever Emergency Medical Response System (EMRS) at Command Hospital Air Force (CHAF) in __________.
1) Visakhapatnam, Andhra Pradesh
2) Bengaluru, Karnataka
3) Varanasi, Uttar Pradesh
4) New Delhi, Delhi
5) Udhampur, Jammu and KashmirAnswer-2) Bengaluru, Karnataka
Explanation:
Air Chief Marshal Vivek Ram Chaudhari, the Chief of the Air Staff (CAS) of the Indian Air Force (IAF) has inaugurated the first-ever Emergency Medical Response System (EMRS) at Command Hospital Air Force (CHAF) in Bengaluru, Karnataka.
• The EMRS is a 24/7 telephonic medical helpline for serving IAF personnel and their families across India.
• This system aims to provide timely response by a team of medical and paramedical professionals to the caller experiencing an emergency anywhere in India. - According to the recently released (in may’24 ) Oxford Economics’ Global Cities Index 2024, which city ranked top among Indian cities while New York topped globally?
1) Mumbai
2) Pune
3) Bengaluru
4) Kochi
5) DelhiAnswer-5) Delhi
Explanation:
According to the Oxford Economics’ Global Cities Index 2024, Delhi has ranked 350th among the world’s largest 1,000 cities and emerged as the highest-ranked Indian city.
• New York City, the United States of America(USA) has topped the 2024 Index followed by London, The United Kingdom(UK) and San Jose, USA at 2nd and 3rd rank.
• As per the index, 1000 largest cities in the world accounted for 60% of global Gross Domestic Product (GDP) in 2023.
• Some other Indian cities in the index are: Kolkata, West Bengal (528th ), Pune, Maharashtra (539th ), and Thrissur, Kerala (550th ). Click here to read more - Name the country that officially became the 99th member of the International Solar Alliance (ISA).
1)Panama
2) Spain
3) Egypt
4) Ethiopia
5) Saudi ArabiaAnswer-2) Spain
Explanation:
Spain officially became the 99th member of the International Solar Alliance (ISA) which shows its commitment to promote solar energy in the energy sector.
• At present, 119 countries have signed the ISA framework and 99 countries have signed as well as ratified ISA framework.
• It is an inter-governmental organisation jointly formed by India and France in 2015. It aims to mobilise efforts against climate change through the deployment of solar energy solutions.
Note: In March 2024, Panama became the 98th country to ratify ISA framework.
Option Revision:
2,3 &4. Covered on 4 January 2024:Egypt, Ethiopia, & Saudi Arabia.
Five countries namely Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) has joined the BRICS(Brazil, Russia, India, China, and South Africa) bloc as their membership came into force from January 1, 2024. - As per the Reserve Bank of India’s (RBI’s) recently (in may’24) published ‘State of the Economy’ report, Non-Resident Indian (NRI) deposit flows surged by 63.5% to _____________ in FY24, the highest in 8 years.
1) USD 27.14 billion
2) USD 10.58 billion
3) USD 31.73 billion
4) USD 14.7 billion
5) USD 42.58 billionAnswer-4) USD 14.7 billion
Explanation:
On May 21, 2024, the Reserve Bank of India (RBI) recently published its ‘State of the Economy‘ report, authored by Deputy Governor Michael Debabrata Patra and others.
• Non Resident Indian (NRI) deposit flows surged by 63.5% to USD 14.7 billion in FY24, the highest in 8 years. The earlier high was USD 15.97 billion in FY16.
• As per the report, durable alignment of headline retail inflation with the 4% target may begin in the second half of FY25, potentially reaching target levels by FY26.
• Outward remittances under India’s Liberalized Remittance Scheme (LRS) hit a record high of USD 31.73 billion in FY24, marking a 16.91% increase Y-o-Y from FY23’s USD 27.14 billion.
• As per the report, Net Foreign Direct Investment (FDI) into India dropped by 62.17% to USD 10.58 billion in FY24, the lowest since 2007, from USD 27.98 billion In FY23. Click here to read more - Name the organisation/financial institution recently (in May’24)approved the dividend of Rs 2,10,874 crore (~Rs 2.11 Lakh crore) to the government of India(GoI) for the fiscal year 2023-24 (FY24).
1) State Bank of India
2) National Bank for Agriculture and Rural Development
3) Small Industries Development Bank of India
4) Insurance Regulatory and Development Authority of India
5) Reserve Bank of IndiaAnswer-5) Reserve Bank of India
Explanation:
On 22nd May 2024, the Central Board of Directors of the Reserve Bank of India (RBI) approved the transfer of Rs 2,10,874 crore (~Rs 2.11 Lakh crore) as surplus to the Central government for the fiscal year 2023-24 (FY24). This is around 141% higher than surplus transferred in FY23 (Rs 87,416 crore.).
• Higher dividend aids Central Government in achieving fiscal deficit target of 5.1% of Gross Domestic Product (GDP) for FY25.
• This is above the budgeted figure of Rs 1.50 lakh crore in the Interim Budget for FY2025 under dividends and profits, which includes dividends from Public Sector Undertaking (PSUs). - Name the chairperson of an expert committee that has been recently (in may’24) constituted by the International Financial Services Centres Authority (IFSCA) to position GIFT-IFSC as a “Global Commodity Trading Hub.”
1) Devendra Jhajharia
2) Vinod Kumar Paul
3) Rajeev Kher
4) K. Rajaraman
5) Anantha NageswaranAnswer-3) Rajeev Kher
Explanation:
The International Financial Services Centres Authority (IFSCA) has constituted an expert committee to position Gujarat International Finance Tec-City- International Financial Services Centre (GIFT-IFSC) in Gandhinagar, Gujarat as “Global Commodity Trading Hub”.
• The 21-member expert committee will be chaired by Rajeev Kher, Former Secretary, Ministry of Commerce and Industry(MoCI).Click here for the complete list of members
• It will develop legal, regulatory and policy frameworks and incentive structures that will help to promote GIFT-IFSC as a Global Commodity Trading Hub. - Which financial company has recently (in may ‘24) received the Certificate of Registration (Corporate Agency License) from the Insurance Regulatory and Development Authority (IRDAI) to act as a ‘Corporate Agent (Composite)’ under the Insurance Act, 1938.
1) Sundaram Finance
2) Mahindra & Mahindra Financial Services Limited
3) Paymart India Pvt. Ltd
4) JM Financial Products Ltd
5) IIFL FinanceAnswer-2) Mahindra & Mahindra Financial Services Limited
Explanation:
Mahindra & Mahindra Financial Services Limited (MMFSL) has received the Certificate of Registration (Corporate Agency License) from Insurance Regulatory and Development Authority (IRDAI), an insurance regulator to act as a ‘Corporate Agent (Composite)’ under the Insurance Act, 1938.
• The licence will enable Mahindra Finance to sell life and general insurance policies offered by various insurers.
• The registration shall be valid from May 21, 2024 to May 20, 2027 and it enables the company to undertake further business activity of soliciting and procuring insurance business in the areas of life, health and general insurance – both group and individual. - Which of the following was the first Asset Management Company (AMC) in India to launch its own brand sound?
1) Nippon Life India Asset Management Limited
2) Invesco India Asset Management
3) Mirae Asset Mutual Fund
4) Brookfield Asset Management
5) UTI Mutual FundAnswer-1) Nippon Life India Asset Management Limited
Explanation:
Nippon Life India Asset Management Limited (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), has announced the launch of the sonic identity ‘The Sound of Freedom’, a powerful soundscape symbolising financial freedom.
• NIMF has became the first asset management company (AMC) in India to launch its own brand sound.
• The new musical logo of NIMF ‘MOGOSCAPE’, captures the core values, emotions, and persona of the organisation. - Name the new jumping spider species that was recently (in may’24) found in the Kodagu district, Karnataka.
1) Melanochlamys Droupadi
2) Batillipes Chandrayaani
3) Brucethoa Isro
4) Peucetia chhaparajnirvin
5) Ligdus GarvaleAnswer-5) Ligdus Garvale
Explanation:
A team of naturalists have discovered Ligdus Garvale, a new species of jumping spider which was found in Garvale village of the Kodagu district, Karnataka.
• The discovery has been published in the journal Zootaxa.
• It marks the second recorded instance of the Ligdus genus in 129 years whereas the first, Ligdus Chelifer, was reported from Myanmar by Thorell in 1895.
• Jumping Spiders are the largest family of spiders, with more than 6,380 species belonging to the family Salticidae - When was the United Nations (UN) International Day of Vesak, (also known as Buddha Purnima or Buddha Jayanti in India) observed across the globe in 2024?
1) 28 February
2) 16 March
3) 21 April
4) 27 March
5) 23 MayAnswer-5) 23 May
Explanation:
The United Nations (UN) International Day of Vesak, (also known as Buddha Purnima or Buddha Jayanti in India) is annually observed across the globe on the Day of the Full Moon in May. It is the most sacred day for millions of Buddhists globally.
• In 2024, the International Vesak Day, or Buddha Purnima was observed on 23 May 2024.
• This Day acknowledges the birth of Prince Siddharta Gautama, who later became known as the Buddha and founded Buddhism.
• Buddha Purnima 2024 marks the 2586th birth anniversary of Gautam Buddha.Click here to read more
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