Daily Current Affairs Quiz – 03rd May 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 03rd May 2024. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2024 & other competitive exams can make use of these Current Affairs Quiz.

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1) Unified Payment Interface transactions fell slightly to Rs 19.64 lakh crore in April 2024, from Rs 19.78 lakh crore in March 2024.Year-on-year (Y-o-Y), UPI transactions climbed by 50% in volume and what percentage in value?

(a) 30%

(b) 40%

(d) 25%

(e) 45%

2) The Securities and Exchange Board of India allows for optional nominations for joint mutual fund portfolios.Which month is the deadline for existing individual mutual fund holders?

(a) May 31

(b) June 30

(d) October 31

(e) December 31

3) Growth & Worldline Join India’s Growing Community of Online Payment Aggregators.With these additions, how many firms have received RBI approval to operate as payment aggregators in the first four months of 2024?

(a) 15

(b) 20

(d) 10

(e) 30

4) Which bank teamed with Bengaluru-based financial services business ANQ to introduce two co-branded credit cards, Pi and Phi?

(a) DBS bank

(b) YES bank

(d) ICICI bank

(e) Kotak Mahindra Bank

5) Non-banking financial entities have reached a four-year high in commercial paper (CP) issuance.CP can be issued with maturities ranging from how many days to one year from the issue date?

(a) 10days

(b) 15days

(d) 25days

(e) 30days

6) SBI has received government authority to sell its entire 25.02% interest to which bank after the lock-in period expires in March 2024?

(a) DBS bank

(b) YES bank

(d) ICICI bank

(e) IndusInd bank

7) The SCOPE Art Exhibition and Painting Competition brings colour to Public Sector Day celebrations.What does the “S” in SCOPE stand for?

(a) Social

(b) Science

(d) Standing

(e) Session

8) IFFCO receives approval to launch two more nano-tech fertilizers.Which micronutrient is essential for enzyme function in plants and promotes growth and development?

(a) Copper

(b) Zinc

(d) Mercury

(e) Potassium

9) According to sources, the Directorate General of Civil Aviation (DGCA) has deregistered how many planes leased to the bankrupt airline Go First?

(a) 52

(b) 54

(d) 56

(e) 58

10) In 2019, India was among the top five economically developing countries in terms of CO2 emissions from aviation, according to a recent study. Among the following countries which one had 14 percent CO2 emission?

(a) Japan

(b) Germany

(d) China

(e) UAE

11) Prime Minister Narendra Modi’s photo has been removed from Covid vaccine certificates.In 2021, the addition of Modi’s picture on vaccination certificates provoked a debate that escalated to which state’s High Court?

(a) Karnataka

(b) Uttarakhand

(d) Kerala

(e) Goa

12) The Indian Institute of Astrophysics (IIA) in Bengaluru captured footage of the moon passing in front of Antares, a bright star of which color?

(a) White

(b) Blue

(d) Yellow

(e) Green

13) Air Marshal Nagesh Kapoor Named Chief of the Indian Air Force’s Training Command.Where did he serve as Defence Attache, demonstrating his diplomatic abilities?

(a) Bangladesh

(b) China

(d) Afghanistan

(e) Nepal

14) Which bank’s joint Managing Director (MD), KVS Manian, has stepped down with immediate effect?

(a) DBS bank

(b) YES bank

(d) ICICI bank

(e) Kotak Mahindra Bank

15) In FY2023-24, the fertilizer subsidy exceeded the Revised Estimates (RE) by over how much crore?

(a) Rs. 5500crores

(b) Rs. 4500crores

(d) Rs. 7500crores

(e) Rs. 8500crores

16) What percentage the goods and services tax (GST) receipts increased from the previous year to a record-breaking high of Rs 2.10 lakh crore in April 2024?

(a) 12.2%

(b) 12.3%

(d) 12.5%

(e) 12.6%

17) RailTel and tech firm sign memorandum of understanding for KAVACH implementation projects.Which year was the system approved by the Ministry of Railways as a “National ATP System”?

(a) 2019

(b) 2020

(d) 2018

(e) 2022

18) Which state was the site of the successful flight test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system disclosed by the Defence Research and Development Organization (DRDO)?

(a) Karnataka

(b) Andhra Pradesh

(d) Goa

(e) Maharashtra

19) Paul Auster, Famous American Author of “The New York Trilogy,” Died.In which year did he release his last book, “Baumgartner?”

(a) 2019

(b) 2020

(d) 2023

(e) 2022

20) The book “The Winner’s Mindset,” written by Australian all-arounder Shane Watson, discusses how to succeed even at the most difficult times in life.Watson mentions that even though he was in excellent form, in which year did he intend to declare his retirement from cricket?

(a) 2014

(b) 2015

(d) 2017

(e) 2018

21) In which nation did Rashmi Kumari defeat Shainy Sebastian to win the women’s title in the 6th Asian Carrom Championship?

(a) Netherland

(b) Thailand

(d) Hong Kong

(e) Maldives

22) After how many years, Red Bull stated that Adrian Newey, the design leader, will be leaving the Formula 1 team in early 2025?

(a) 15years

(b) 14years

(d) 18years

(e) 19years

23) Which state, renowned as the “Jewel of Western India” for its economic splendor, has been a trailblazer in the nation’s economic development?

(a) Karnataka

(b) Andhra Pradesh

(d) Gujarat

(e) Maharashtra

24) In which year was Maharashtra Day, observed on May 1st each year, commemorated as the establishment of the state of Maharashtra?

(a) 1956

(b) 1958

(d) 1965

(e) 1968

25) In which year was May 2nd officially designated as World Tuna Day by the UN General Assembly?

(a) 2012

(b) 2014

(d) 2018

(e) 2015

26) When was World Press Freedom Day observed?

(a) May 2

(b) May 3

(d) May 4

(e) April 30

27) The slogan “Experience our expertise” belonged to which bank?

(a) DBS bank

(b) YES bank

(d) ICICI bank

(e) Kotak Mahindra Bank

28) When was UPI introduced?

(a) 2012

(b) 2014

(d) 2018

(e) 2015

29) The Indian Institute of Astrophysics (IIA) videotaped the event from its Bengaluru campus using a camera on a telescope of how many inches?

(a) 7inches

(b) 8inches

(d) 6inches

(e) 10inches

Answers :

1) Answer: B

In April 2024, Unified Payment Interface (UPI) transactions decreased by 0.7% in value and 1% in volume compared to March 2024.
The value of transactions in April 2024 stood at Rs 19.64 trillion, down from Rs 19.78 trillion in March 2024.
The volume of transactions was 3 billion in April, compared to 13.44 billion in March.
Year-on-year (Y-o-Y), UPI transactions increased by 50% in volume and 40% in value.
In February 2024, UPI transactions were 12.10 billion in volume and Rs 18.28 trillion in value.

Detailed Explanation:

In April 2024, Unified Payment Interface (UPI) transactions decreased by 0.7% in value and 1% in volume compared to March 2024.
The value of transactions in April 2024 stood at Rs 19.64 trillion, down from Rs 19.78 trillion in March 2024.
The volume of transactions was 3 billion in April, compared to 13.44 billion in March.
Year-on-year (Y-o-Y), UPI transactions increased by 50% in volume and 40% in value.
In February 2024, UPI transactions were 12.10 billion in volume and Rs 18.28 trillion in value.

Immediate Payment Service (IMPS)

Monthly Decline:
In April, IMPS transactions decreased by 7% in value and 5% in volume compared to March 2024.
Comparison with Previous Months:
In February 2024, IMPS transactions were 535 million in volume and Rs 5.68 trillion in value.
Year-on-Year Increase:
Year-on-year, IMPS transactions increased by 11% in volume and 14% in value.

FASTag

Monthly Decline:
In April 2024, FASTag transactions decreased by 3% in volume and 6% in value compared to March 2024.
Comparison with Previous Months:
In February 2024, FASTag transactions were 323 million in volume and Rs 5,582 crore in value.
Year-on-Year Increase:
FASTag transactions grew by 8% in volume and 9% in value compared to April 2023.

Aadhaar Enabled Payment System (AePS)

Monthly Decline:
In April, AePS transactions declined by 13% in volume and 10% in value compared to March.
Comparison with Previous Months:
In February, AePS transactions were 83 million in volume and Rs 22,007 crore in value.
Year-on-Year Decline:
AePS saw a decrease of 7% in volume and 15% in value compared to April 2023.

2) Answer: B

Capital markets regulator Securities and Exchange Board of India (SEBI) made the nomination optional for jointly-held mutual fund accountsin a bid to promote ease of doing business.
Fund houses are now permitted to have a single fund manager to oversee commodity and foreign investments, which is expected to reduce management costs.
Deadline for Compliance: Existing individual mutual fund holders have until June 30, 2024, to nominate or opt out of nomination for their accounts.

Detailed Explanation:

Capital markets regulator Securities and Exchange Board of India (SEBI) made the nomination optional for jointly-held mutual fund accountsin a bid to promote ease of doing business.
Fund houses are now permitted to have a single fund manager to oversee commodity and foreign investments, which is expected to reduce management costs.
Deadline for Compliance: Existing individual mutual fund holders have until June 30, 2024, to nominate or opt out of nomination for their accounts.
Failure to comply will result in their accounts being frozen for withdrawals.
Review Process:SEBI constituted a working group to review mutual fund regulations.
Based on the group’s recommendations, a public consultation was conducted, which led to the relaxation of rules regarding joint mutual fund account nominations and fund manager arrangements.
Relaxation of rules: The relaxation of nomination requirements for joint holders simplifies the process by allowing the surviving member to become the nominee, streamlining transmission and reducing hassle.
Later, the last surviving member can assign a nominee.
Changes in Fund Management: SEBI stated that for commodity-based funds such as Gold ETFs (, Silver ETFs, and other funds participating in the commodities market, the appointment of a dedicated fund manager would be optional.
Also, the appointment of a dedicated fund manager for making overseas investments would be optional

3) Answer: B

Financial services platform Growwand digital payment processing company Worldline ePayments have secured a Reserve Bank of India (RBI) licence to operate as online payment aggregators.
An online payment aggregator licence allows companies to offer payment services for merchants, typically e-commerce firms, by accepting various payment instruments from customers.
Groww has secured the licence for its UPI payments platform Groww Pay.
Number of Firms: With these additions, the total number of firms obtaining RBI approval to operate as payment aggregators in the first four months of 2024 has reached

Detailed Explanation:

Financial services platform Growwand digital payment processing company Worldline ePayments have secured a Reserve Bank of India (RBI) licence to operate as online payment aggregators.
An online payment aggregator licence allows companies to offer payment services for merchants, typically e-commerce firms, by accepting various payment instruments from customers.
Groww has secured the licence for its UPI payments platform Groww Pay.
Worldline ePayments India, received the licence enabling the company to provide payment services for merchants including e-commerce firms or online businesses.
Number of Firms: With these additions, the total number of firms obtaining RBI approval to operate as payment aggregators in the first four months of 2024 has reached
In-Principle Approvals: Over 28 companies have received in-principle approval from the RBI to operate as payment aggregators.
It typically takes 6 months to one year after the in-principle nod for a company to receive the final approval from the regulator.
Major Players: In 2024, notable players such as Amazon Pay, Digio, CCAvenue, Decentro, MSwipe, Tata Pay, Zoho, and Zomato have also received final approval from the RBI to operate as payment aggregators

What is a payment aggregator?

A payment aggregator (PA) is a third-party service provider that enables customers to make and businesses to accept payments online.
Payment aggregators enable their clients to accept various payment methods such as debit cards, credit cards, cardless EMIs, UPI, bank transfers, e-wallets, and e-mandates.
A PA licence is mandatory for a platform to acquire merchants and deliver digital payment acceptance solutions.

4) Answer: B

YES Bank has partnered with Bengaluru-based financial services provider ANQ to launch two co-branded credit cards, Pi and Phi.
The partnership focuses on bridging the gap between traditional banking and the fintech industry, offering innovative solutions to meet evolving consumer needs.
It is a digital-only card designed to offer seamless credit on UPI for domestic transactions.

Detailed Explanation:

YES Bank has partnered with Bengaluru-based financial services provider ANQ to launch two co-branded credit cards, Pi and Phi.
The partnership focuses on bridging the gap between traditional banking and the fintech industry, offering innovative solutions to meet evolving consumer needs.
It is a digital-only card designed to offer seamless credit on UPI for domestic transactions.
It provides convenient and secure payment options, aligning with the growing digital-first economy.
The card offers accelerated rewards on UPI spending, providing enhanced value for users.
As YES BANK and ANQ embark on this journey, they highlight a broader transition towards a digital-first economy, with their collaboration serving as a guiding light for the future of the Indian fintech ecosystem.

5) Answer: B

Commercial Paper (CP) issuances by non-banking financial companies (NBFCs) reached ₹1.2-lakh crore during January-March 2024, a four-and-a-half-year high since July-September 2019.
Commercial Paper is an unsecured money market instrument, issued in the form of a promissory note.
CP can be issued for maturities between a minimum of 15 days and a maximum of 1 year from the date of issue.

Detailed Explanation:

Commercial Paper (CP) issuances by non-banking financial companies (NBFCs) reached ₹1.2-lakh crore during January-March 2024, a four-and-a-half-year high since July-September 2019.
However, this is still significantly lower than the record high of ₹3.1-lakh crore observed in July-September 2018.
The increase in CP issuances is partially driven by the Reserve Bank of India’s mandate to increase risk weights on bank loans given to higher-rated NBFCs, leading to more CP issuance as an alternative source of funding.

What is Commercial Paper?

Commercial Paper is an unsecured money market instrument, issued in the form of a promissory note.
CP can be issued for maturities between a minimum of 15 days and a maximum of 1 year from the date of issue.
The proportion of CP issuances with maturities of up to 2 months was just 10% during January-March 2024, compared with 33% in July-September 2019.
The instrument was introduced in 1990 to enable highly rated corporate borrowers to diversify their sources of short-term borrowings, and also to provide an additional instrument to investors.
CPs can be issued by corporations, primary dealers, and financial institutions.
Eligible participants should have a minimum credit rating of A-2 at the time of the issuance of the CP.
Banking companies, mutual funds, other corporate bodies, NRIs, individuals and foreign institutional investors (FIIs) can subscribe to CPs; they are also traded in the secondary market.

Eligibility Criteria:

Tangible Net Worth: A company must have a tangible net worth of at least Rs. 4 crores, as per its latest audited balance sheet.
Working Capital Limit: The working capital (fund-based) limit of the company from the banking system must be at least Rs. 4 crores.
Classification as Standard Asset: The borrowal account of the company should be classified as a Standard Asset by the financing bank(s).

CP Denominations and Limits:

Minimum Denomination: CP can be issued in denominations of 5 lakh or multiples thereof.
Maximum Limit: The aggregate amount raised by a corporation through CP should not exceed the working capital (fund-based) limit sanctioned to it by banks.

6) Answer: B

The State Bank of India (SBI) has received government approval to divest its entire 25.02% stake in YES Bank, following the end of a lock-in period in March 2024.
The block deal could be valued between Rs 5,000 crore and Rs 7,000 crore, with no taxes applied to the sale.

Detailed Explanation:

The State Bank of India (SBI) has received government approval to divest its entire 25.02% stake in YES Bank, following the end of a lock-in period in March 2024.
SBI is likely to sell its stake in YES Bank via a block deal, a common method for selling large volumes of shares.
The block deal could be valued between Rs 5,000 crore and Rs 7,000 crore, with no taxes applied to the sale.
YES Bank reported a more than two-fold jump in standalone net profit to Rs 452 crore for the March quarter of fiscal 2023-24, compared to Rs 202.43 crore in the corresponding period last year

7) Answer: D

Encouraging creative minds, artists and upcoming talent, the Standing Conference of Public Enterprises (SCOPE) organized an Art Exhibition cum Painting Competition at SCOPE Social Interaction Centre (SSIC), SCOPE Complex, New Delhi, as part of Public Sector Day celebrations.
The painting competition was held on the themes – ‘My Vision for India of tomorrow’, ‘Nation ‘Go Green’, ‘Nation Building by Public Sector’ and ‘Unleash your imagination through brushes and strokes.’

Detailed Explanation:

Encouraging creative minds, artists and upcoming talent, the Standing Conference of Public Enterprises (SCOPE) organized an Art Exhibition cum Painting Competition at SCOPE Social Interaction Centre (SSIC), SCOPE Complex, New Delhi, as part of Public Sector Day celebrations.
Vasundhara Upmanyu, Joint Secretary, DPE, Ministry of Finance inaugurated the event in the presence of Shri Atul Sobti DG, SCOPE, senior officials of PSEs and participants.
SCOPE also felicitated its new members during the event participated by a large number of participants from various PSEs across the country.
The painting competition was held on the themes – ‘My Vision for India of tomorrow’, ‘Nation ‘Go Green’, ‘Nation Building by Public Sector’ and ‘Unleash your imagination through brushes and strokes.’
Live Art Sessions by talented artists and an Art exhibition were also organized in association with Vimla Art Forum during the event.
This unique initiative of SCOPE aimed at unleashing the hidden talents of PSE employees, while encouraging, and nurturing their creativity and imagination.

8) Answer: B

Fertiliser major Iffco, which introduced nano liquid urea and nano liquid DAP, stated the central government has approved its two new products nano liquid zinc and nano liquid copper for the launch.
These two products would help in mitigating deficiencies of zinc and copper in agriculture crops and boost productivity.
FCO (Fertiliser Control Order) approval has been granted for both these products.
Zinc is a crucial micro-nutrient for the enzyme functioning in plants and it is very important for plant growth and development.
Similarly, copper is required for many enzymatic activities in plants and chlorophyll and seed production.

Detailed Explanation:

Fertiliser major Iffco, which introduced nano liquid urea and nano liquid DAP, stated the central government has approved its two new products nano liquid zinc and nano liquid copper for the launch.
These two products would help in mitigating deficiencies of zinc and copper in agriculture crops and boost productivity.
FCO (Fertiliser Control Order) approval has been granted for both these products.
Zinc is a crucial micro-nutrient for the enzyme functioning in plants and it is very important for plant growth and development.
Similarly, copper is required for many enzymatic activities in plants and chlorophyll and seed production.
Iffco launched nano-liquid urea a few years back. It has also provided technology to some other companies to set up nano urea plants.
A total of 7 crore nano urea bottles (of 500 ml each) have been sold from August 2021 to February 2024.
One bottle of nano urea is equivalent to one bag (45 kg) of conventional urea.
The cooperative later introduced nano-liquid DAP (di-ammonium phosphate) in the market.
It has also purchased a lot of drones for the application of nano-liquid urea and nano-liquid DAP.

9) Answer: B

The Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft leased to the now-bankrupt airline Go First, according to officials.
This move comes in the wake of an order issued by the Delhi High Court on April 26.
Go First filed for bankruptcy in May 2023.
The Delhi High Court, on April 26, directed the DGCA to deregister planes leased to Go First within five working days, providing much-needed relief to the lessors.

Detailed Explanation:

The Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft leased to the now-bankrupt airline Go First, according to officials.
This move comes in the wake of an order issued by the Delhi High Court on April 26.
Go First filed for bankruptcy in May 2023.
The Delhi High Court, on April 26, directed the DGCA to deregister planes leased to Go First within five working days, providing much-needed relief to the lessors.
At an aviation event in February this year, global aircraft and engine lessors expressed deep frustration, using terms such as “scarred”, “burnt”, “egregious”, and “yellow light of caution”, over their inability to repossess their planes (and engines) from Go First due to ongoing court cases.
Go First ceased flight operations on May 3, 2023, following the submission of an insolvency application to the National Company Law Tribunal (NCLT).
On May 10, 2023, the tribunal imposed a moratorium on the airline’s assets, effectively preventing the lessors from reclaiming their aircraft (and engines on them) from the carrier.

10) Answer: D

In 2019,India was among the top five economically developing countries in terms of carbon dioxide (CO2) emissions from aviation, new research has found.
However, among the economically developing countries, India was found to be the third biggest contributor with close to 3 percent share in global CO2 emissions from aviation, following China at 14 percent and the United Arab Emirates (UAE) at more than3 percent.
The research team at the Norwegian University of Science and Technology also found that India’s share in global CO2 emissions from domestic aviation was the third highest at 1.5 percent.

Detailed Explanation:

In 2019,India was among the top five economically developing countries in terms of carbon dioxide (CO2) emissions from aviation, new research has found.
However, among the economically developing countries, India was found to be the third biggest contributor with close to 3 percent share in global CO2 emissions from aviation, following China at 14 percent and the United Arab Emirates (UAE) at more than3 percent.
The research team at the Norwegian University of Science and Technology also found that India’s share in global CO2 emissions from domestic aviation was the third highest at 1.5 percent.
“The countries with the highest absolute domestic aviation CO2 emissions (global percentage share in total CO2 aviation emissions in parentheses) are the USA (13.4 percent), China (8.9 percent), India (1.5 percent), Russia (1.2 percent), and Japan (1.1 percent),” the authors stated.
The findings were published in the journal ‘Environmental Research Letters’.
For their analysis, the researchers used the model, called AviTeam, which computes the fuel burnt for individual flights for the entire envelope based on a given trajectory.
When the 1992 United Nations Framework Convention on Climate Change treaty was signed, high-income countries were required to report their aviation-related emissions.
However, low- and middle-income countries, including China and India, were not required to report these emissions, even though they could voluntarily do so.
The researchers stated the model is the first to provide information for the 45 lesser-developed countries that have never inventoried their greenhouse gas emissions from aviation.

11) Answer: D

The Union health ministry has made a notable change to the CoWIN certificates for COVID-19 vaccinations by removing the image of Prime Minister Narendra Modi.
Following vaccine manufacturer AstraZeneca’s admission in a UK court, discussions on Covishield’s potential association with Thrombosis with Thrombocytopenia Syndrome (TTS), a rare side effect involving blood clotting, have resurfaced.
In 2022, Modi’s photograph was also removed from vaccination certificates issued in five states: Uttar Pradesh, Uttarakhand, Punjab, Manipur, and Goa.
In 2021, the addition of Modi’s picture on vaccination certificates provoked a debate that escalated to Kerala state’s High Court

Detailed Explanation:

The Union health ministry has made a notable change to the CoWIN certificates for COVID-19 vaccinations by removing the image of Prime Minister Narendra Modi.
Previously, these certificates prominently featured Modi’s image along with a quote affirming India’s collective resolve to conquer coronavirus.
While the quote – “Together, India will defeat COVID-19” – remains attributed to the prime minister, his name has been omitted from the certificates, The Hindu reported.
Following vaccine manufacturer AstraZeneca’s admission in a UK court, discussions on Covishield’s potential association with Thrombosis with Thrombocytopenia Syndrome (TTS), a rare side effect involving blood clotting, have resurfaced.
Officials from the Ministry of Health and Family Welfare, however, said that the image was removed from the vaccine certificate due to the Model Code of Conduct (MCC) being in place for the ongoing Lok Sabha elections.
It is worth noting that this is not the first time Modi’s photo was removed from Covid vaccination certificates.
In 2022, Modi’s photograph was also removed from vaccination certificates issued in five states: Uttar Pradesh, Uttarakhand, Punjab, Manipur, and Goa.
This action was mandated by the Election Commission of India (ECI) in preparation for the assembly elections in those states.
In India, AstraZeneca partnered with the Serum Institute of India (SII) to produce the vaccine.

12) Answer: C

The Bengaluru-based Indian Institute of Astrophysics (IIA) has filmed the passing of the moon in front of Antares, a bright red star.
The moon passed in front of Antareson April 27, hiding it for roughly 40 minutes.
IIA stated that this event was visible only from southern India.
IIA filmed the event from its Bengaluru campus using a camera on an 8-inch telescope.
The next one will be in June 2027. However, the occultation of the planet Saturn by the moon can be seen from India on July 24, and again on October 14, 2024.

Detailed Explanation:

The Bengaluru-based Indian Institute of Astrophysics (IIA) has filmed the passing of the moon in front of Antares, a bright red star.
The moon passed in front of Antareson April 27, hiding it for roughly 40 minutes.
IIA stated that this event was visible only from southern India.
IIA filmed the event from its Bengaluru campus using a camera on an 8-inch telescope.
While moving in its orbit roughly once a month, the moon will occasionally occult, or hide, bright stars that are behind, and sometimes, even planets.
This happens now and then for the star Antares (Jyeshtha), which is the brightest star in the constellation of Scorpius.
Since the moon is relatively close to the Earth, such occultations will be visible only from some locations on the globe, similar to why a solar eclipse is seen only from a particular part of the globe.
The last such occultation of Antares, which was visible from India, was on February 5 this year.
The next one will be in June 2027. However, the occultation of the planet Saturn by the moon can be seen from India on July 24, and again on October 14, 2024.
As seen from Bengaluru, Antares disappeared behind the bright side of the gibbous moon around 13 a.m. and reappeared at the darker side around 1.53 a.m.
IIA has a video of the disappearance and reappearance.
In the videos, the telescope is tracking Antares and the relative motion of the moon is also clearly visible.
The shaking of the image is due to winds buffeting the telescope, and the shimmering of the image is due to the Earth’s atmosphere.

13) Answer: C

Air Marshal Nagesh Kapoor was appointed as the Air Officer Commanding-in-Chief (AOC-in-C) of the Training Command (TC) for the Indian Air Force (IAF).
Kapoor was commissioned into the Fighter stream of the Indian Air Force on December 6, 1986.
He is a Qualified Flying Instructor and a Fighter Combat Leader with over 3,400 hours of flying experience.
He served as Defence Attaché in Pakistan, showcasing his diplomatic skills.

Detailed Explanation:

Air Marshal Nagesh Kapoor was appointed as the Air Officer Commanding-in-Chief (AOC-in-C) of the Training Command (TC) for the Indian Air Force (IAF).
Kapoor was commissioned into the Fighter stream of the Indian Air Force on December 6, 1986.
He is a Qualified Flying Instructor and a Fighter Combat Leader with over 3,400 hours of flying experience.
He served as Defence Attaché in Pakistan, showcasing his diplomatic skills.

Notable Staff Roles:

Assistant Chief of Air Staff Operations (Strategy) at Air HQ.
Air Defence Commander at South Western Air Command.
Senior Air Staff Officer at HQ Central Air Command.
Before his current role, he served as the Air Officer-in-Charge Personnel at Air HQ.

Awards &Honors :

In recognition of his meritorious service, the Air Marshal was awarded with Vayu Sena Medal in 2008 and the Ati Vishisht Seva Medal in 2022.

14) Answer: E

KVS Manian,joint Managing Director (MD) at Kotak Mahindra Bank, has immediately stepped down from his position.
He joined Kotak Mahindra Bank in 1995 and had a 29-year-long career with the bank, during which he led various divisions, including Consumer, Commercial, Wholesale, and Private Banking businesses.
Manian, a whole-time director at the bank, was promoted to the position of joint MD effective March 1, 2024, after the bank appointed new MD and CEO Ashok Vaswani.

Detailed Explanation:

KVS Manian,joint Managing Director (MD) at Kotak Mahindra Bank, has immediately stepped down from his position.
He joined Kotak Mahindra Bank in 1995 and had a 29-year-long career with the bank, during which he led various divisions, including Consumer, Commercial, Wholesale, and Private Banking businesses.
Manian, a whole-time director at the bank, was promoted to the position of joint MD effective March 1, 2024, after the bank appointed new MD and CEO Ashok Vaswani.
After Manian’s resignation, the following organizational changes have been announced:
The Wholesale, Commercial, and Private Bank divisions will report directly to MD and CEO Ashok Vaswani.
The Asset Reconstruction Division will report to Shanti Ekambaram, the newly appointed Deputy Managing Director.
Ekambaram will also oversee the Investment Banking and Institutional Equities businesses.
In addition, she will handle the growth of 811, Treasury, and Global Markets businesses, along with other functional responsibilities, including Human Resources, Group Marketing & Corporate Communications, Internal Vigilance, Internal Audit (administrative matters), Public Affairs, Corporate Social Responsibility, and ESG.

15) Answer: C

The fertilizer subsidy in Fiscal Year 2023-24 (FY24) has exceeded Revised Estimates (RE) by over ₹6,500 crore, the latest government data
However, this is unlikely to impact the revised estimate of fiscal deficit.
One possible reason for the increase in subsidy is a rise in input cost and operations cost mainly on account of the increase in natural gas prices.
Data, as analyzed by Businessine, showed subsidy on urea went up to over ₹1.30-lakh crore as against RE of ₹1.29-lakh crore.
However, it is still lower than the Budget Estimate of over ₹1.35-lakh crore.
Under nutrient-based subsidy (NBS), expenditure rose to over ₹65,000 crore as against RE of over ₹60,000 crore and Budget Estimate of ₹44,000 crore.
Last June, the government extended the urea subsidy scheme up to March 31, 2025.

Detailed Explanation:

The fertilizer subsidy in Fiscal Year 2023-24 (FY24) has exceeded Revised Estimates (RE) by over ₹6,500 crore, the latest government data
However, this is unlikely to impact the revised estimate of fiscal deficit.
One possible reason for the increase in subsidy is a rise in input cost and operations cost mainly on account of the increase in natural gas prices.
Data, as analyzed by Businessine, showed subsidy on urea went up to over ₹1.30-lakh crore as against RE of ₹1.29-lakh crore.
However, it is still lower than the Budget Estimate of over ₹1.35-lakh crore.
Under nutrient-based subsidy (NBS), expenditure rose to over ₹65,000 crore as against RE of over ₹60,000 crore and Budget Estimate of ₹44,000 crore.
Last June, the government extended the urea subsidy scheme up to March 31, 2025.
For a period between FY 2022-23 and 2024-25, the total estimated outlay pegged at over ₹3.68-lakh crore.
The actual expenditure is expected to vary based on the prices of natural gas and other inputs used for the production of urea.
Under the urea subsidy scheme, urea is provided to farmers at a statutorily notified maximum retail price (MRP).
The MRP of a 45 kg bag of urea is ₹242 per bag (exclusive of charges towards neem coating and taxes as applicable) while the cost, on some occasions, crossed ₹3,000 for a 45 kg bag.
The difference between the delivered cost of urea at the farm gate and net market realization by the urea units is given as a subsidy to the urea manufacturer/importer by the government.
Further, the government implemented a nutrient-based subsidy policy e.f. April 1, 2010 all over the country, which has now been extended toll 2025-26.
Under the NBS policy, a fixed rate of subsidy (in ₹ per kg basis) is announced on nutrients namely nitrogen (N), phosphate (P), potash (K) and sulfur (S) by the government on an annual/bi-annual basis.
The per kg subsidy rates on the nutrients N, P, K, and S is converted into per tonnesubsidies on the various P&K fertilizers covered under NBS policy.
Any variant of the fertilizers covered under the subsidy scheme with micronutrients namely boron and zinc, is eligible for a separate per tonne subsidy to encourage their application along with primary nutrients.
At present 25 grades of P&K fertilizers namely DAP, MAP, TSP, MOP, ammonium sulfate, SSP, PDM and 18 grades of NPKS complex fertilizers are covered under the NBS Policy.
Under the NBS regime, the MRP of P&K fertilizers has been left open and fertilizer manufacturers/marketers are allowed to fix the MRP at reasonable rates.
On several occasions, the government has admitted the problem of the over-application of urea in the country and that the consumption of nitrogen in India is much higher than in many other countries in the world.
Evidently, Indian farmers do not adhere to the established ideal fertilizer ratio of 4:2:1 of N:P:K, with negative consequences for soil health.
One of the reasons for the over-consumption of urea is being promoted to NBS which covers other fertilizers like P & K fertilizers only. Because of this urea is cheaper than others.

16) Answer: C

The goods and services tax (GST) collections reached a record-breaking high of Rs 2.10 lakh crore in April 2024, marking a 12.4% increase from the previous year.
This unprecedented revenue reflects the country’s strong economic momentum and showcases the efficiency of its tax collection

The detailed components of the GST revenue include Rs 43,846 crore collected through the Central GST, Rs 53,538 crore through the State GST, and Rs 99,623 crore through the Integrated GST, with Rs 37,826 crore coming from levies on imported goods.
In terms of state-wise GST collections, Uttar Pradesh has overtaken Tamil Nadu by recording a 19 percent increase in tax revenues in April, becoming the fourth-largest contributor after Maharashtra, Karnataka, and Gujarat.

Detailed Explanation:

The goods and services tax (GST) collections reached a record-breaking high of Rs 2.10 lakh crore in April 2024, marking a 12.4% increase from the previous year.
This unprecedented revenue reflects the country’s strong economic momentum and showcases the efficiency of its tax collection

The detailed components of the GST revenue include Rs 43,846 crore collected through the Central GST, Rs 53,538 crore through the State GST, and Rs 99,623 crore through the Integrated GST, with Rs 37,826 crore coming from levies on imported goods.
In terms of state-wise GST collections, Uttar Pradesh has overtaken Tamil Nadu by recording a 19 percent increase in tax revenues in April, becoming the fourth-largest contributor after Maharashtra, Karnataka, and Gujarat.
Maharashtra remains the largest contributor, garnering a revenue of Rs 37,671 crore, followed by Karnataka with Rs 15,978 crore and Gujarat with Rs 13,301 crore.
Achieving a record GST collection is not just a fiscal milestone; it symbolizes the health and robustness of the Indian economy.
It also indicates effective enforcement and compliance strategies by tax authorities, which have successfully enhanced both domestic transactions and imports.
The increased collections have also raised expectations for the next wave of GST reforms, which are anticipated to be pursued under GST 2.0.
The finance ministry attributes this growth to a 13.4% increase in domestic transactions and an 8.3% rise in imports.

17) Answer: B

The railways inked an agreement with a tech firm for “exploring and delivering” train collision avoidance system KAVACH implementation projects in India as well as other countries, according to a statement.
The Memorandum of Understanding (MoU) for this purpose was signed between RailTel Corporation of India Limited and Quadrant Future Tek Limited.
KAVACH is an indigenously developed automatic train protection (ATP)system of the Indian Railways.
The system was adopted as a “National ATP System” by the Ministry of Railways in July

Detailed Explanation:

The railways inked an agreement with a tech firm for “exploring and delivering” train collision avoidance system KAVACH implementation projects in India as well as other countries, according to a statement.
The Memorandum of Understanding (MoU) for this purpose was signed between RailTel Corporation of India Limited and Quadrant Future Tek Limited.
KAVACH is an indigenously developed automatic train protection (ATP)system of the Indian Railways.
It is a highly technology-intensive system that requires safety certification of the highest order, the statement stated.
The Indian Railways is also marketing the system in other countries.
According to RailTel, implementation of KAVACH on the Indian Railways network is one of the priority areas of the national transporter.
The system was adopted as a “National ATP System” by the Ministry of Railways in July
RailTel- RailTel a “Mini Ratna (Category-I)” Central Public Sector Enterprise, is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network covering several towns & cities and rural areas of the country.
Quadrant Future Tek Limited- “Quadrant” is a Technology & Innovation-driven Company Certified to ISO/IRIS/TS Quality Management Systems. The company possesses state-of-the-art Electronics manufacturing & Cable production facilities at Mohali (Punjab Province, India) and two dedicated Engineering Centres located inBangalore & Hyderabad.

18) Answer: C

The Defence Research and Development Organisation (DRDO) announced the successful flight test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system from Dr APJ Abdul Kalam Island off the coast of Odisha.
SMART is a next-generation missile-based lightweight torpedo delivery system.
It was designed and developed by DRDO to enhance the anti-submarine warfare capability of the Indian Navy.

Technical Specifications:

The SMART system is canister-based and incorporates several advanced subsystems:
A two-stage solid propulsion system
An electromechanical actuator system
A precision inertial navigation system

Detailed Explanation:

The Defence Research and Development Organisation (DRDO) announced the successful flight test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system from Dr APJ Abdul Kalam Island off the coast of Odisha.
SMART is a next-generation missile-based lightweight torpedo delivery system.
It was designed and developed by DRDO to enhance the anti-submarine warfare capability of the Indian Navy.
The system extends the operational range for launching torpedoes, surpassing the conventional range of lightweight torpedoes.

Technical Specifications:

The SMART system is canister-based and incorporates several advanced subsystems:
A two-stage solid propulsion system
An electromechanical actuator system
A precision inertial navigation system
The system carries an advanced lightweight torpedo as payload, which is delivered with the aid of a parachute-based release system.

Launch and Validation:

The missile was launched from a ground mobile launcher.
The test successfully validated several state-of-the-art mechanisms, including symmetric separation, ejection, and velocity control.

19) Answer: D

Paul Auster, the prolific American novelist behind the acclaimed “New York Trilogy,” has passed away at the age of 77.
Paul Auster was born in Newark, New Jersey.
Auster wrote more than 30 books and was shortlisted for the Booker Prize and voted into the American Academy of Arts and Letters.
He published his final novel “Baumgartner,” in 2023.

Detailed Explanation:

Paul Auster, the prolific American novelist behind the acclaimed “New York Trilogy,” has passed away at the age of 77.
Paul Auster was born in Newark, New Jersey.
Auster wrote more than 30 books and was shortlisted for the Booker Prize and voted into the American Academy of Arts and Letters.
His notable works include:
“The New York Trilogy” (1987), comprising “City of Glass,” “Ghosts,” and “The Locked Room.”
“Moon Palace” (1989)
“The Music of Chance” (1990)
“The Book of Illusions” (2002)
“The Brooklyn Follies” (2005)
“Invisible” (2009)
“Sunset Park” (2010)
“Winter Journal” (2012)
“4 3 2 1” (2017), which was shortlisted for the Booker Prize.
He published his final novel “Baumgartner,” in 2023.

20) Answer: B

Australian all-rounder Shane Watson recently launched the book ‘The Winner’s Mindset’ which talks about how to get success even in the darkest period of life.
According to the book, having a winner’s mindset means believing in yourself, setting goals, and never giving up, no matter how tough things get.
Watson notes that in September 2015, he was planning to announce his retirement from cricket although he was in good shape.
During the domestic match, Phillip Hugheswas a Test cricketer for Australia who was hit by a ball on the neck and died in Sydney in 2014.

Detailed Explanation:

Australian all-rounder Shane Watson recently launched the book ‘The Winner’s Mindset’ which talks about how to get success even in the darkest period of life.
According to the book, having a winner’s mindset means believing in yourself, setting goals, and never giving up, no matter how tough things get.
Watson notes that in September 2015, he was planning to announce his retirement from cricket although he was in good shape.
His form deteriorated following the bouncer incident which took Australian batter Philip Hughes’ life the year before (2014).
During the domestic match, Phillip Hugheswas a Test cricketer for Australia who was hit by a ball on the neck and died in Sydney in 2014.
Mentally, he was in the darkest hole of life.
He had a chance meeting with IndyCar champion Will Power in
They met at a rugby league awards night. The driver told Watson how his driving and personal life had been rocked by the death of a good friend, Dan Wheldon, in an IndyCar race in Los Vegas in
Before meeting Power, 42-year-old Watson was battling the inner demon and he admitted that he was “petrified” that he would suffer the same fate.
This meeting not only helped Watson but also introduced the IndyCar Champion to Jacques Dallaire, a mentally skilled guru based in the United States.
“Jacques has experience working in the motor racing world. Right from Formula 1 to IndyCar. He had even worked with fighter pilots and US Army personnel. Meeting the mental skill coach, Watson was so influenced that he flew to North Carolina to enroll in Dallaire’s mental skill program and for the next four years he followed the skilled guru,” according to the book.

21) Answer: E

Rashmi Kumari outplayed Shainy Sebastian to clinch the women’s title in the 6th Asian carrom championship which concluded in Maldives.
It was the fourth Asian crown for the three-time World Champion Rashmi, who had recently won her 12th National title in Gwalior.
MenFinal: Mohd.Ghufranbt K. Srinivas
WomenFinal:Rashmi KumaribtShainy Sebastian

Detailed Explanation:

Rashmi Kumari outplayed Shainy Sebastian to clinch the women’s title in the 6th Asian carrom championship which concluded in Maldives.
It was the fourth Asian crown for the three-time World Champion Rashmi, who had recently won her 12th National title in Gwalior.
In the men’s final, Ghufran beat reigning National champion K. Srinivas.
India swept all the gold medals in singles, doubles, and team championships apart from the Swiss league.
MenFinal: Mohd.Ghufranbt K. Srinivas
WomenFinal:Rashmi KumaribtShainy Sebastian

22) Answer: E

Adrian Newey, regarded as the greatest F1 designer and a chief architect of Red Bull’s dominance, is set to end his Red Bull stay in the “first quarter” of
Red Bull confirmed that design chief Adrian Newey will leave the Formula 1 team in early 2025 after 19 years.

Detailed Explanation:

Adrian Newey, regarded as the greatest F1 designer and a chief architect of Red Bull’s dominance, is set to end his Red Bull stay in the “first quarter” of
Red Bull confirmed that design chief Adrian Newey will leave the Formula 1 team in early 2025 after 19 years.
It was widely reported last week that the 65-year-old was set to quit following a controversy involving allegations about team principal Christian Horner.
The announcement is expected to start a bidding war for Newey’s services, with Ferrari, soon to be joined by Lewis Hamilton, in pole position.

23) Answer: D

Gujarat Day or Gujarat Foundation Day or Gujarat Sthapana Divasis celebrated every year on 1 May.
Two states, Maharashtraand Gujarat, were formed after the partition of Bombay based on language in
These two states were carved out of Bombay State by the Bombay Reorganization Act in 1960, due to the demands of the Gujarati and Marathi-speaking people.
The country’s largest economy and a significant part of the country’s population are both connected to
Gujarathas played a pioneering role in the country’s economic development, and it was previously known as the ‘Jewel of Western India’ due to its economic prosperity.

Detailed Explanation:

Gujarat Day or Gujarat Foundation Day or Gujarat Sthapana Divasis celebrated every year on 1 May.
Two states, Maharashtraand Gujarat, were formed after the partition of Bombay based on language in
These two states were carved out of Bombay State by the Bombay Reorganization Act in 1960, due to the demands of the Gujarati and Marathi-speaking people.
After the separation of these two states on linguistic grounds, Gujarat, is now home to the Gujarati-speaking population while Maharashtra is home to the Marathi-speaking population.
As both of these states were coastal, they emerged as economic hubs.
Gujarati is the official language of Gujarat, which was developed from local Prakrits and Sanskrit.
The state of Gujarat has been on the world map since ancient times.
The country’s largest economy and a significant part of the country’s population are both connected to
Gujarathas played a pioneering role in the country’s economic development, and it was previously known as the ‘Jewel of Western India’ due to its economic prosperity.

24) Answer: C

Maharashtra Day, celebrated on May 1st every year, marks the creation of the state of Maharashtra in 1960.
Maharashtra Day celebrates the linguistic and cultural identity of the Marathi people.
The Samyukta Maharashtra Samiti (United Maharashtra Committee) formed in 1956 became the driving force behind the movement.
On May 1st, 1960, the independent state of Maharashtra was officially formed, marking a momentous occasion in the region’s history.

Detailed Explanation:

Maharashtra Day, celebrated on May 1st every year, marks the creation of the state of Maharashtra in 1960.
Maharashtra Day celebrates the linguistic and cultural identity of the Marathi people.
The Samyukta Maharashtra Samiti (United Maharashtra Committee) formed in 1956 became the driving force behind the movement.
They advocated for a separate state encompassing Marathi-speaking regions that were then part of the Bombay State.
This included present-day Maharashtra, parts of Karnataka, and the Belgaum region.
Following the States Reorganisation Act of 1956, the Bombay State was dissolved on linguistic lines.
On May 1st, 1960, the independent state of Maharashtra was officially formed, marking a momentous occasion in the region’s history.

25) Answer: C

World Tuna Day, observed annually on May 2 is dedicated to raising awareness about the critical importance of tuna conservation.
Tuna is popular for its numerous health benefits, as it provides Omega-3 fatty acids, protein and vital vitamins.
But, tuna populations face significant threats due to overfishing and unsustainable fishing practices.
World Tuna Day was initially proposed by the Parties to the Nauru Agreement (PNA) during a meeting of the Western and Central Pacific Fisheries Commission (WCPFC) in 2011.
In 2016, the United Nations General Assembly officially declared May 2 as World Tuna Day.

Detailed Explanation:

World Tuna Day, observed annually on May 2 is dedicated to raising awareness about the critical importance of tuna conservation.
Tuna is popular for its numerous health benefits, as it provides Omega-3 fatty acids, protein and vital vitamins.
But, tuna populations face significant threats due to overfishing and unsustainable fishing practices.
Recognising the urgent need for conservation efforts, the United Nations established World Tuna Day to promote sustainable fishing practices and safeguard tuna populations for future generations.
Each year, World Tuna Day is observed with a specific theme that highlights key aspects of tuna conservation, management and industry.
However, for this year, the theme has not yet been announced by the authorities responsible for organizing the event.
World Tuna Day was initially proposed by the Parties to the Nauru Agreement (PNA) during a meeting of the Western and Central Pacific Fisheries Commission (WCPFC) in 2011.
The aim was to raise awareness about the importance of tuna and the challenges facing tuna populations, particularly in the Pacific region where tuna fisheries are significant.
In 2016, the United Nations General Assembly officially declared May 2 as World Tuna Day.
Fiji led the resolution on behalf of the Pacific Small Island Developing States (PSIDS) and received support from more than 50 nations.

26) Answer: B

World Press Freedom Day is observed on 3 May every year.
The Theme of World Press Freedom Day 2024 is “A Press for the Planet: Journalism in the Face of the environmental crisis“.
World Press Freedom Day was established in 1993 by the United Nations General Assembly following the recommendation of UNESCO’s General Conference in 1991.

Detailed Explanation:

World Press Freedom Day is observed on 3 May every year.
This day is dedicated to the fundamental principles of press freedomand to defending the media from attacks on their independence.
The Theme of World Press Freedom Day 2024 is “A Press for the Planet: Journalism in the Face of the environmental crisis“.
World Press Freedom Day was established in 1993 by the United Nations General Assembly following the recommendation of UNESCO’s General Conference in 1991.
It was first celebrated in
The day is intended to raise awareness of the importance of freedom of the press and to pay tribute to journalists who have lost their lives in the line of duty.

27) Answer: B

About Yes Bank :

Established : 2004
Headquarters : Mumbai, Maharashtra, India
MD &CEO : Prashant Kumar
Tagline : Experience our expertise

28) Answer: C

About UPI:

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application.
It is developed by the National Payments Corporation of India (NPCI).
It was introduced in April 2016.

29) Answer: B

The Bengaluru-based Indian Institute of Astrophysics (IIA) has filmed the passing of the moon in front of Antares, a bright red star.
The moon passed in front of Antareson April 27, hiding it for roughly 40 minutes.
IIA stated that this event was visible only from southern India.
IIA filmed the event from its Bengaluru campus using a camera on an 8-inch telescope.
While moving in its orbit roughly once a month, the moon will occasionally occult, or hide, bright stars that are behind, and sometimes, even planets.
This happens now and then for the star Antares (Jyeshtha), which is the brightest star in the constellation of Scorpius.

Detailed Explanation:

The Bengaluru-based Indian Institute of Astrophysics (IIA) has filmed the passing of the moon in front of Antares, a bright red star.
The moon passed in front of Antareson April 27, hiding it for roughly 40 minutes.
IIA stated that this event was visible only from southern India.
IIA filmed the event from its Bengaluru campus using a camera on an 8-inch telescope.
While moving in its orbit roughly once a month, the moon will occasionally occult, or hide, bright stars that are behind, and sometimes, even planets.
This happens now and then for the star Antares (Jyeshtha), which is the brightest star in the constellation of Scorpius.
Since the moon is relatively close to the Earth, such occultations will be visible only from some locations on the globe, similar to why a solar eclipse is seen only from a particular part of the globe.
The last such occultation of Antares, which was visible from India, was on February 5 this year.
The next one will be in June 2027. However, the occultation of the planet Saturn by the moon can be seen from India on July 24, and again on October 14, 2024.
As seen from Bengaluru, Antares disappeared behind the bright side of the gibbous moon around 1.13 a.m. and reappeared at the darker side around 1.53 a.m.
IIA has a video of the disappearance and reappearance.
In the videos, the telescope is tracking Antares and the relative motion of the moon is also clearly visible.
The shaking of the image is due to winds buffeting the telescope, and the shimmering of the image is due to the Earth’s atmosphere.

This post was last modified on May 6, 2024 1:29 pm

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Daily Current Affairs Quiz – 03rd May 2024

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