Current Affairs Quiz:30 October 2024

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1. Which of the following points is/are correct with respect to the International Telecommunication Union (ITU)– World Telecommunication Standardization Assembly (WTSA) 2024 at Bharat Mandapam in New Delhi, Delhi?
   A) PM Modi declared that India has emerged as the world’s second-largest 5G market and is already working towards 6G development.
   B) Reliance Jio has introduced the JioBharat V3 and V4, the next generation of affordable 4G feature phones at the IMC 2024.
   C) The Telecom Regulatory Authority of India (TRAI) conducted a symposium on the theme- ‘Emerging Trends and Technologies in Broadcasting Sector’ on 17th October 2024, alongside the IMC-2024.
   1) Only A & B
   2) Only A & C
   3) Only B & C
   4) Only C
   5) All A, B & C
   
   Answer & Explanation

   Answer-5) All A, B & C
   Explanation:
   On 15th October 2024, Narendra Modi, Prime Minister(PM) of India, inaugurated the International Telecommunication Union (ITU)– World Telecommunication Standardization Assembly (WTSA) 2024. It was held from 15th to 24th October 2024 at Bharat Mandapam in New Delhi, Delhi.
    PM Modi also inaugurated the 8th edition of India Mobile Congress(IMC 2024), Asia’s largest digital technology forum during the programme.
    WTSA was hosted in India for the first time in ITU’s history of 150 years. This also marks the first WTSA hosted in the Asia-Pacific.
    The 8th edition of India Mobile Congress(IMC 2024) was held from 15th to 18th October at Pragati Maidan in New Delhi along with WTSA 2024. The theme of the IMC 2024 was- The Future Is Now.
    While addressing IMC 2024, PM Modi declared that India has emerged as the world’s second-largest 5G market and is already working towards 6G development.
    Reliance Jio has introduced the JioBharat V3 and V4, the next generation of affordable 4G feature phones at the IMC 2024.
    The Telecom Regulatory Authority of India (TRAI) conducted a symposium on the theme- ‘Emerging Trends and Technologies in Broadcasting Sector’ on 17th October 2024, alongside the IMC-2024. Click here to read more.
   
   
   
2. Which among the following nationalised banks has ‘not’ been recently (in October ‘24) approved for the creation of the Chief General Manager (CGM) post by Finance Minister Nirmala Sitharaman?
   1) Bank of Maharashtra
   2) Indian Bank
   3) Indian Overseas Bank
   4) UCO Bank
   5) Central Bank of India
   
   Answer & Explanation

   Answer-2) Indian Bank
   Explanation:
   Union Minister Nirmala Sitharaman, Ministry of Finance(MoF) has approved the restructuring within nationalised banks by creating and increasing the number of Chief General Manager (CGM) posts.
    This decision is aimed at enhancing the administrative framework and operational efficiency of these banks.
    The restructuring is based on a review of the banks’ business mixes as of March 31, 2023. The new structure aims for a ratio of one CGM for every four GMs, ensuring a balanced distribution of responsibilities.
    The Finance Minister has sanctioned the establishment of 64 new CGM posts, increasing the total from 80 to 144 across all 11 nationalised banks.
    Prior to this, CGM posts were available in six out of eleven nationalised banks. The new CGM positions will be introduced in five nationalised banks, namely, Bank of Maharashtra (BoM), Pune, Maharashtra; Central Bank of India (CBI), Mumbai, Maharashtra; Indian Overseas Bank (IOB), Chennai, Tamil Nadu; Punjab & Sind Bank (PSB), New Delhi, Delhi and UCO Bank, Kolkata, West Bengal.
   
   
   
3. Which company has recently (in October ‘24) partnered with the Ministry of Skill Development and Entrepreneurship (MSDE) to enhance the Skill India Mission?
   1) Visa Inc
   2) Microsoft
   3) Google
   4) Apple
   5) Meta
   
   Answer & Explanation

   Answer- 5) Meta
   Explanation:
   The Ministry of Skill Development and Entrepreneurship (MSDE) has partnered with Meta, parent company of the social network Facebook, to enhance the Skill India Mission through the development of an  Artificial Intelligence (AI) Assistant and the establishment of five Centers of Excellence (CoEs) focused on Virtual Reality (VR) and Mixed Reality (MR).
    Five CoEs will be established at National Skill Training Institutes (NSTIs) located in: Hyderabad(Telangana), Bengaluru(Karnataka), Jodhpur(Rajasthan), Chennai(Tamil Nadu, TN), Kanpur(Uttar Pradesh, UP).
    This collaboration aims to leverage advanced technology to improve skill development training and accessibility for learners across India.
    This chatbot will be integrated into the Skill India Digital (SID) Portal, providing 24/7 support for users, including quick access to course information, and educational resources.
   
   
   
4. Which bank has recently (in October’ 24) launched the ‘Mahila Shaksham Scheme’ to empower women entrepreneurs?
   1) Bank Of India
   2) HDFC Bank
   3) Jammu & Kashmir Bank
   4) SBI Bank
   5) Indian Overseas Bank
   
   Answer & Explanation

   Answer-5) Indian Overseas Bank
   Explanation:
   Indian Overseas Bank (IOB) has launched the ‘IOB -Mahila Shaksham Scheme’ aimed at empowering individual women Self Help Group (SHG) members for entrepreneurial activity.
    This initiative is under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) offering financial assistance to individual members of Women SHGs.
    The scheme also aligns with the Ministry of Rural Development’s (MoRD) ‘Lakhpati Didi Yojana’ to promote financial independence for women.
    It is also a part of the bank’s commitment to support women’s economic participation and enhance their access to financial resources.
    The scheme is designed specifically for women entrepreneurs, including those running Small and Medium Enterprises (SMEs).
    Women can avail loans minimum at Rs 75,000 and upto Rs 10,00,000.
   
   
   
5. In October ‘24, the Reserve Bank of India (RBI) expanded direct access to its NDS-OM electronic trading platform to a wider range of Regulated Entities.
   What does NDS stand for?
   1) Negotiated Dealing System
   2) Navigation Dealing System
   3) Number Dealing System
   4) Negotiated Dealing Service
   5) National Dealing Code
   
   Answer & Explanation

   Answer-1) Negotiated Dealing System
   Explanation:
   The Reserve Bank of India (RBI) has expanded direct access to its Negotiated Dealing System-Order Matching (NDS-OM) electronic trading platform to a wider range of Regulated Entities (REs) such as Regional Rural Banks (RRBs), Local Area Banks (LABs), Non-Banking Finance Companies (NBFCs), including Housing Finance Companies(HFCs), among others.
    The new guidelines have enabled the entities to either gain direct access, permitting them to execute transactions on the NDS-OM platform, or opt for indirect access in partnership with an entity that holds direct access.
    RBI has issued these directions in exercise of the powers given under section 45W of the RBI Act, 1934 read with section 45U of the RBI Act, 1934.
    The revised directions now called the RBI (Access Criteria for NDS-OM) Directions, 2024 and these directions came into effect from 18th October, 2024.
    The aim of NDS- OM to reduce inefficiencies stemming from telephone orders and manual paperwork while increasing transparency for all market participants.
    Foreign Institutional Investors (FIIs) and Corporate Companies will continue to have indirect access to NDS-OM. Click here to read more.
   
   
   
6. Which bank/company has recently (in October’ 24) launched the ‘Utsav Deposit Scheme’, a 400-day period term deposit scheme?
   1) Airtel Finance
   2) Bank of Baroda
   3) RBL Bank Limited
   4) Bank of Maharashtra
   5) Kotak Mahindra Bank
   
   Answer & Explanation

   Answer-2) Bank of Baroda
   Explanation:
   Vadodara (Gujarat) based Bank of Baroda (BoB) announced the launch of the ‘bob Utsav Deposit Scheme’, a 400-day period term deposit scheme. The scheme offers interest rates of 7.30% per annum (p.a.) for the general public, 7.80% p.a. for senior citizens, 7.90% p.a. for super senior citizens (aged 80 years & above) and up to 7.95% p.a. on Non-Callable Deposits.
    The scheme opens on 14th October 2024 and is applicable on fixed deposits below Rs 3 crore. bob Utsav is a limited-period offer.
    BoB has also increased interest rates in the above 3 year to 5 year bucket by 30 basis points (bps) from 6.50% p.a. to 6.80% p.a.
   
   
   
7. Union Minister Nitin Gadkari unveiled a ________ (denomination) commemorative coin to mark the Birth Centenary of HH Mataji Nirmala Devi Ji at the National Museum in New Delhi, Delhi.
   1) Rs 10
   2) Rs 25
   3) Rs 50
   4) Rs 75
   5) Rs 100
   
   Answer & Explanation

   Answer-5) Rs 100
   Explanation:
   Union Minister Nitin Gadkari, Ministry of Road Transport & Highways (MoRTH) unveiled a Rs 100 commemorative coin to mark the Birth Centenary of HH Mataji Nirmala Devi Ji at the National Museum in New Delhi, Delhi.
    HH Mataji Nirmala Devi Ji was born on March 21,1923 and her Birth Centenary was celebrated in 2023.
    She was the founder of Sahaja Yoga, a new religious movement.
    The Rs 100 coin features an image of HH Mataji Nirmala Devi Ji, symbolizing her teachings and the principle, including inner peace and universal love.
   
   
   
8. Which bank has recently (in October’ 24) acquired a 24.9% shareholding in Future Generali India Insurance Company Limited (FGIICL)?
   1) Central Bank of India
   2) Kotak Mahindra Bank Limited
   3) Rajapur Sahakari Bank Limited
   4) RBL Bank
   5) HDFC Bank
   
   Answer & Explanation

   Answer-1) Central Bank of India
   Explanation:
   The Competition Commission of India (CCI) has approved the proposed acquisition of 24.9% shareholding in Future Generali India Insurance Company Limited (FGIICL), a general insurance company and 25.18% shareholding in Future Generali India Life Insurance Company Limited (FGILICL) by Central Bank of India, a scheduled commercial bank.
    This acquisition was approved following the bid/resolution plan submitted by the Central Bank of India under the Insolvency and Bankruptcy Board of India (IBBI) (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
    FGILICL is a life insurance company, which provides savings insurance, investment plans like: Unit Linked Insurance Plan (ULIP), term insurance plans, child plans, retirement plans, among others.
    The CCI has approved the proposal of Bharti Airtel Limited (Bharti Airtel) to increase its stake in Indus Towers Limited (Indus Towers), passive telecom infrastructure provider, to 50.005% (from previous shareholding of 48.95%) pursuant to buy back of shares by Indus Towers.
    The CCI has approved the proposal of Aquilo House Pte. Limited (AHPL) to acquire Aavas Financiers Limited (AFL) (Target), registered with the National Housing Bank (NHB) as a non-deposit taking housing finance company. Click here to read more.
   
   
   
9. Who has recently (in October ‘24) been elected as President of Vietnam?
   1) Shigeru Ishiba
   2) Luong Cuong
   3) Dr. Masoud Pezeshkian
   4) Paul Kagame
   5) To Lam
   
   Answer & Explanation

   Answer-2) Luong Cuong
   Explanation:
   On 21st October 2024, Vietnam’s National Assembly elected General Luong Cuong(67-year-old) as the 14th president of Vietnam, during a session held in Hanoi, Vietnam.
    He replaced To Lam, who served as the 13th President of Vietnam from May 2024 to October 2024. To Lam was appointed as the general secretary of the ruling Communist Party in August 2024.
    He joined the army in 1975 and rose through the ranks, becoming a Major General by 2006. He also served as the Chief of the General Department of Politics under the Vietnam People’s Army.
    He has been serving as a Permanent member of the Party Central Committee’s Secretariat since May 2024.
   
   
   
10. When is National Solidarity Day annually observed across India?
    1) September 9
    2) October 19
    3) September 14
    4) October 20
    5) August 21
    
    Answer & Explanation

    Answer-4) October 20
    Explanation:
    National Solidarity Day is annually observed across India on 20th October to pay tribute to the soldiers who lost their lives in the line of duty to the nation during the 1962 Indo-China War, which began on 20th October 1962 and ended on 21st November 1962.
     The day also honours the bravery and strength of the personnel of the Indian armed forces.
     20th October 2024 marks the 62nd Anniversary of the 1962 Indo-China War.
     The first National Solidarity Day was observed on 20th October 1966.
     Indo-China War or Sino-Indian War was the conflict between India and China centred on the disputed Aksai Chin region.
     The Param Vir Chakra (PVC) winners of the Sino-India war of 1962 are Major Shaitan Singh (Posthumously); Major Dhan Singh Thapa; and Subedar Joginder Singh (Posthumously). Click here to read more.