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- Which Indian Naval Ship (INS) has recently (in April’ 24) participated in Maritime Partnership Exercise with the United Kingdom(UK) Littoral Response Group South(LRGS)?
1) INS Tir
2) INS Jatayu
3) INS Sandhayak
4) INS Sahyadri
5) All the aboveAnswer- 4) INS Sahyadri
Explanation:
Indian Navy’s indigenous stealth frigate, Indian Naval Ship(INS) Sahyadri participated in Maritime Partnership Exercise with the United Kingdom(UK) Littoral Response Group South(LRGS) comprising British Royal Navy’s Royal Fleet Auxiliary(RFA) Argus and RFA Lyme Bay at Sea.
To improve interoperability and strengthen maritime cooperation between India and U.K.
The exercise included Tactical manoeuvres, Boarding operations, Surface engagement against simulated asymmetric threats, Cross-deck visits and Cross-deck helicopter operations.
Option Revision:
1. In April 2024, The Indian Naval Ship (INS) Tir representing the First Training Squadron (1TS), joined Exercise Cutlass Express – 24 (CE – 24) at Port Victoria, Seychelles.
2.In April 2024, The Indian Navy (IN) commissioned the Indian Naval Ship (INS) Jatayu at Minicoy, the southernmost island in Lakshadweep.
3. In February 2024, Indian Navy Commissioned Survey Vessel INS Sandhayak (Yard 3025) in Visakhapatnam. - What should be the minimum net worth of Small Finance Banks (SFBs) (as of April’ 24) at the end of the previous quarter(audited)to be eligible for conversion into Universal Banks(UBs)?
1) Rs 100 crore
2) Rs 300 crore
3) Rs 1000 crore
4) Rs 5 crore
5) Rs 500 croreAnswer-3) Rs 1000 crore
Explanation:
On 26th April 2024, Reserve Bank of India (RBI) laid out a framework in the form of eligibility conditions for the voluntary transition of Small Finance Banks(SFBs) to Universal Banks(UBs).
RBI laid down some conditions for conversion of SFBs into UBs like these SFBs must have minimum paid-up capital of Rs 1000 crore, satisfactory track record of performance for minimum 5 years etc.
These conditions are in reference to “Guidelines for ‘on-tap’ Licensing of Small Finance Banks in Private Sector” issued on 5th December, 2019. These guidelines provide a transition path for SFBs to convert into UBs.
Note: On 1st April 2024, RBI approved the merger of Fincare SFB into AU Small Finance Bank Limited. Now, there are 11 SFBs in India. Click here to read more
Option Revision:
1. The minimum paid-up equity capital of the payments bank shall be Rs. 100 crore. The payments bank shall be required to maintain a minimum capital adequacy ratio of 15 percent of its risk weighted assets (RWA) on a continuous basis, subject to any higher percentage as may be prescribed by RBI from time to time.
2. RBI has raised the minimum capital requirement for ARCs to begin securitisation to Rs 300 crore, compared with Rs 100 crore earlier on October 11, 2022.
4. The Regional Rural Banks (Amendment) Bill, 2014 was introduced by the Minister of Finance, Mr. Arun Jaitley, in Lok Sabha on December 18, 2014. The Bill seeks to amend the Regional Rural Banks Act, 1976. The Act provides for the authorised capital of each RRB to be Rs 5 crore. - Which regulatory/ statutory body has recently (in April’ 24) notified a framework for Category I and Category II Alternative Investment Funds (AIFs) in the infrastructure sector to raise debt by pledging the equity of their investee companies?
1) Reserve Bank Of India
2) Competition Commission of India
3) Insurance Regulatory and Development Authority of India
4) Securities and Exchange Board of India
5) International Financial Services Centres AuthorityAnswer- 4) Securities and Exchange Board of India
Explanation:
Securities and Exchange Board of India (SEBI) has notified a framework for Category I and Category II Alternative Investment Funds (AIFs) in the infrastructure sector to raise debt by pledging the equity of their investee companies.
In this regard, SEBI (AIF) Regulations, 2012 has been amended and notified SEBI (AIF) (second amendment) Regulations, 2024.
Category I and Category II AIFs can create encumbrances on invested companies’ equity in the infrastructure sector to facilitate debt raising, under Regulation 16(1)(c) and 17(c) of AIF Regulations, subject to compliance with RBI regulations. Click here to read more
Option Revision:
1. In February 2024 RBI revised the eligibility norms for the inclusion of Urban Co-operative Banks (UCBs) in the Second Schedule to RBI Act, 1934 – issued under sub clause (a) of sub section (6) of section 42 of the RBI Act 1934.
2. In March 2024 – Ministry of Corporate Affairs (MOCA) notified that the provisions of sections 20, 35 & 40 of the Competition (Amendment) Act, 2023 will come into force with effect from 6th March 2024. Allows Competition Commission of India (CCI) to impose a penalty on the global turnover of a company for engaging in activities that distort competition.
3. In January 2024 – Insurance Regulatory and Development Authority (IRDAI) removed the requirement of case-to-case approval for investment in IDF – NBFCs by insurance companies. The investment should be – with Note 3 – Regulation 9 of IRDAI (Investments) Regulations 2016. - Which organisation has recently (in April’ 24) pledged USD 23.6 billion in 2023 to help Asia and Pacific Progress on Sustainable Development?
1) World Bank
2) Asian Development Bank
3) National Bank for Financing Infrastructure and Development
4) Asian Infrastructure Investment Bank
5) New Development BankAnswer-2) Asian Development Bank
Explanation:
The Asian Development Bank(ADB) pledged USD 23.6 billion from its own resources in 2023 which also include USD 9.8 billion for climate action, to help Asia and Pacific progress on sustainable development.
The amount is raised through loans, grants, equity investments, guarantees and technical support provided to governments and the private sector.
ADB also raised an additional USD16.4 billion in co-financing through its strong partnerships.
These figures are among the financial and operational results published by ADB in its Annual Report 2023 on 25th April, 2024.
Option Revision:
1. In March 2024, The World Bank(WB) approved a new project worth USD 452 million to improve connectivity for over 1.8 million people living in rural areas of Assam. The Assam Resilient Rural Bridges Program will strengthen the resilience and management of roads and bridges to help people living in 1,739 villages. Project approved for fiscal year 2024.
3. National Bank for Financing Infrastructure and Development (NaBFID)plans to raise up to Rs 40,000 crore (USD4.8 billion) in local currency bonds, according to people familiar with the matter, as the newly created Indian lender aims to more than double its loan disbursement.
4. In January 2024, Asian Infrastructure Investment Bank (AIIB) invested INR 486 Crore (approximately USD 58.4 million) in Sustainable Energy Infra Trust (SEIT) for AIIB’s project ‘India: Project Meridian’.
Key Points: SEIT is India’s largest renewable energy Infrastructure Investment Trust (InvIT). - Which life insurance company has recently (in April’ 24) partnered with Peerless Financial Products Distribution Ltd. (PFPDL) for corporate agency tie-ups?
1) Edelweiss Tokio Life Insurance
2) HDFC Life Insurance
3) Life Insurance Corporation of India
4) Future Generali India Life Insurance
5) Aditya Birla Sun Life InsuranceAnswer-2) HDFC Life Insurance
Explanation:
HDFC Life Insurance, one of India’s leading insurers, and Peerless Financial Products Distribution Limited (PFPDL) join hands in a corporate agency tie-up. This partnership would enable PFPDL to distribute HDFC Life’s life insurance products to its customers.
Through this tie-up, PFPDL would offer financial protection to its customers and provide both digital and physical platforms for customer convenience.
The partnership aims to strengthen HDFC Life’s presence in eastern India. The tie-up would further bolster the reach of HDFC Life in Tier 2 and Tier 3 cities across the 42 locations of PFPDL.
Option Revision:
1. In February 2024, Thrissur (Kerala) based ESAF Small Finance Bank(SFB) announced a bancassurance partnership with Edelweiss Tokio Life Insurance Company Limited to offer life insurance products to a wider range of customers, particularly those in underserved communities.
3. On 17th February 2024, the Life Insurance Corporation of India (LIC) launched ‘LIC Amritbaal Plan 874’, a new Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan.The plan is designed to meet the higher education and other financial needs of the child.
4. Mumbai (Maharashtra) based Future Generali India Life Insurance Company Limited (FGILI) has launched a comprehensive women’s health insurance plan ‘Health PowHER’ designed specifically for women. The plan aims to address the various needs of women across the different stages of their lives. - Which organisation has recently (in April’ 24) partnered with the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T) at Indian Institute of Technology (IIT) Kanpur to boost innovation in Mobile Financial Services (MFS) and Fintech solutions?
1) Ericsson India
2) LeRemitt
3) Digivriddhi
4) Flywire corporation
5) RevolutAnswer- 1) Ericsson India
Explanation:
Ericsson India and the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T) at the Indian Institute of Technology (IIT) Kanpur, Uttar Pradesh(UP) have signed a 2-year partnership to boost innovation in Mobile Financial Services (MFS) and Fintech solutions.
This aims to leverage Ericsson’s global expertise and F.I.R.S.T’s innovation ecosystem to create groundbreaking solutions.
Ericsson’s wallet platform supports over 400 million registered mobile wallets, processing 2.8 billion transactions valued at over USD 40 billion monthly.
Option Revision:
2. In February 2024, Yes Bank Limited and LeRemitt partnered to create a cross-border platform to enable MSME to conduct international transactions.
3. In January 2024, Karnataka bank partnered with Digivriddhi to provide financial services to support dairy farmers. The services offered to Village Dairy Cooperative Societies associated with Milk Unions of Karnataka Milk Federation (KMF).
4. State Bank of India (SBI) in collaboration with the United States of America based Flywire Corporation to simplify cross border education payments for Indian students pursuing studies abroad. - Name the personality who has been recently (in April’ 24) named as Ambassador of ICC Men’s T20 World Cup 2024.
1) Dame Valerie Adams
2) Vinícius Junior
3) Yuvraj Singh
4) Ayushmann Khurrana
5) Shah Rukh KhanAnswer-3) Yuvraj Singh
Explanation:
International Cricket Council (ICC) has named former Indian Cricketer Yuvraj Singh as the ambassador of the ICC Men’s Twenty20 International (T20I) World Cup 2024 which is set to be hosted by the United States of America(USA) and the West Indies from 1st to 29th June 2024.
i. Yuvraj Singh joins West Indies cricketer Chris Gayle, and Jamaican Athlete Usain Bolt (8-time Olympic Gold Medallist) as the first ambassadors of the 2024 T20 World Cup.
ii. Sana Mir, Former Pakistan women’s cricketer, has been named the ambassador of the ICC Women’s T20 World Cup Qualifier 2024, being held in Abu Dhabi, the United Arab Emirates(UAE) from 25th April to 7th May 2024.
The ICC Women’s T20 World Cup Qualifier 2024 is supported by Dream11.
Option Revision:
1. New Zealand‘s shot putter Dame Valerie Adams, a 4-time World Champion, and 2-time Olympic Gold medallist has been named the International Event Ambassador for the “16th edition of Tata Consultancy Services’ (TCS) World 10K Bengaluru (Karnataka)” to be held on 28th April 2024.
2. United Nations Educational, Scientific and Cultural Organization (UNESCO), appointed Brazilian footballer Vinicius José Paixão de Oliveira Junior (Vinícius Junior) as the Goodwill Ambassador for Education for All.
4. Ayushmann Khurrana partners with Election Commission to drive youth voting. - Which of the following species has recently (in April’ 24) been discovered in Tale Valley Wildlife Sanctuary of Arunachal Pradesh?
1) Neptis philyra
2) Brucethoa isro
3) Melanochlamys Droupadi
4) Sphaerotheca Varshaabhu
5) Pantoea TagoreiAnswer-1) Neptis philyra
Explanation:
A group of butterfly enthusiasts from Assam and other states discovered a rare butterfly species named Neptis philyra, also known as a long-streak sailor, at Tale Valley Wildlife Sanctuary, Arunachal Pradesh.
The species was documented for the 1st time in India, representing a new record for India.
Neptis (Sailers) is an Old World genus of more than 160 recognised species, widely distributed across Africa to Australasia. It belongs to the family Nymphalidae.
Option Revision:
2. The researchers have discovered a new species of deep-sea isopod called ‘Brucethoa Isro’ off the Kollam coast in Kerala.The species – belong to genus – Brucethoa – named after the Indian Space Research Organisation (ISRO), the national space agency of India for their successful space missions including ‘Chandrayaan-3’.
3. Researchers from the Zoological Survey of India (ZSI) have identified a new species of head-shield sea slug ‘Melanochlamys Droupadi’ along the coasts of Odisha and West Bengal. The species is named after Droupadi Murmu, the 15th President of India.
4. Researchers from national and international organisations discovered a new species of burrowing frog named ‘Sphaerotheca Varshaabhu’, found at Budumanahalli near Rajankunte in Bengaluru, Karnataka. It means ‘a genus of frog that welcomes rain’. - Who is the author of the self help book titled “The Winner’s Mindset” published by HarperCollins?
1) Rakhi Kapoor
2) Pankaj Kumar Chatterjee
3) Shane Robert Watson
4) Norris Pritam
5) Salman RushdieAnswer-3) Shane Robert Watson
Explanation:
Former Australian cricketer Shane Robert Watson launched his new book titled ‘The Winner’s Mindset’, published by HarperCollins Publishers.
Option Revision:
1. Author Rakhi Kapoor receives The Prestigious Golden Book Award 2024 for her twenty sixth book “Breaking Free Embracing me”.
2. Romain Rolland Book Prize 2024 + Bengali Translation of ‘Stalin’s Couch’ – ‘Staliner Divan’ by Pankaj Kumar Chatterjee. Romain Rolland Book Prize annually presented by French Institute in India (IFI) in collaboration with Apeejay Trust.
4. Renowned sports journalist Norris Pritam has written a new book “Neeraj Chopra: The Man Who Made History” + journey of the javelin thrower Neeraj Chopra’. - When was World Intellectual Property Day (World IP Day) 2024 observed across the globe to mark the anniversary of the establishment of World Intellectual Property Organization (WIPO)?
1) 15th March
2) 13th February
3) 26th November
4) 26th April
5) 15th JanuaryAnswer-4) 26th April
Explanation:
World Intellectual Property Day (IP) – 26 April marks the day on which the WIPO Convention came into force in 1970.
World Intellectual Property Day (IP) 2024 is observed on 26th April 2024.
The theme of World IP Day 2024 is, “IP and the SDGs: building our common future with innovation and creativity”. Click here to read more
Option Revision:
1. World Consumer Rights Day (WCRD) – 15th March 2024 – coordinated by Consumers international. Theme of WCRD 2024 – ‘Fair and responsible AI for consumers’.
During the week of WCRD 2024 (11-15 March 2024) Consumers international hosted Generative AI Dialogue and Debate series.
2. World Sustainable Transport Day – 26th November 2023.
3. United Nations (UN) World Radio Day – February 13 2024 marks 13th World Radio Day + anniversary of UN Radio. Theme -’‘Radio: A century informing, entertaining and educating”.
- Which Indian Naval Ship (INS) has recently (in April’ 24) participated in Maritime Partnership Exercise with the United Kingdom(UK) Littoral Response Group South(LRGS)?
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