Daily Current Affairs Quiz – 04th September 2020

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2020 of 04th September 2020. 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 2020 & other competitive exams can make use of these Current Affairs Quiz.

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1) US President Donald Trump has announced which of the following cities as the first World War II Heritage City to mark the 75th anniversary of the end of World War II?

A) Conroe

B) Stafford

C) Wilmington

D) Kansas

E) Kingwood

2) The government of which state has signed an MoU with CSIR for a bulk drug pharma park in the state?

A) Gujarat

B) Maharashtra

C) Madhya Pradesh

D) Andhra Pradesh

E) Kerala

3)  David Capel who passed away at the age of 57 was a former cricketer of which country?

A) South Africa

B) New Zealand

C) Australia

D) West Indies

E) England

4) Pang Lhabsol is a unique festival of which state and is commemorated for the consecration of Mount Khangchendzonga as the Guardian Deity of the State?

A) Mizoram

B) Sikkim

C) Arunachal Pradesh

D) Nagaland

E) Manipur

5) In a first-ever digital initiative, which of the following state’s police has set up a voice recording system to transcribe case diaries?

A) Haryana

B) Madhya Pradesh

C) Uttar Pradesh

D) Bihar

E) Chattisgarh

6) Which of the following institutions has retained its lead as the country’s top institution in the Times Higher Education (THE) World University Rankings 2021?

A) IIT Hyderabad

B) IIM Ahmedabad

C) IISc Bengaluru

D) IIT Delhi

E) IIT Madras

7) Which of the following Supreme court judges retired recently and delivered key judgments including granting 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the adjusted gross revenue (AGR)?

A) Sudesh Patel

B) Rakesh Sharma

C) Sunil Sharma

D) Anand Gupta

E) Arun Kumar Mishra

8) Which of the following institutions has incubated the startup ‘‘Chakr DeCoV’’ to decontaminate N95 masks?

A) IIT Mandi

B) IIT Roorkee

C) IIT Delhi

D) IIT Madras

E) IIT Hyderabad

9) The Reserve Bank of India has approved the appointment of who among the following as the MD & CEO of South Indian Bank?

A) John Joseph

B) Murali Ramakrishnan

C) Salim Gangadharan

D) Pradeep M Godbole

E) VG Mathew

10) The Central government has approved the restructuring of the Railway board and has appointed __________ as the Chairman and the CEO of the Railway board.

A) Pramod Kumar Yadav

B) Amit Kumar Yadav

C) Sunil Kumar Yadav

D) Anil Kumar Yadav

E) Vinod Kumar Yadav

11) Which of the following institutions has developed a Herbal Based Immunity Boosting Room Freshener named ‘Healthy Air’?

A) GRSE

B) Defence Institute of Advanced Technology

C) IIT Madras

D) IIT Delhi

E) IIT Hyderabad

12) Name of who among the following has been entered in Fortune’s ’40 Under 40′ Global List.

A) Bhavish Aggarwal

B) Amit Aggarwal

C) Deepak Ravindran.

D) Akash and Isha Ambani

E) Manu Kumar Jain

13)  Who among the following has won the World Open Online Chess Tournament?

A) Nihal Sarin

B) Raunak Sadhwani

C) Rameshbabu Praggnanandhaa

D) Gukesh D

E) P Iniyan

14) Which of the following banks has launched a cardless cash withdrawal facility through ATMs, leveraging the Instant Money Transfer (IMT) system?

A) HDFC

B) ICICI

C) RBL

D) Bandhan

E) Axis

15) Who among the following has been appointed as the MD & CEO of Punjab & Sind Bank?

A) Salim Gangadharan

B) Achal Kumar Gupta

C) VJ Kurian

D) S Krishnan

E) Francis Alapatt

16) Researchers from which institution have developed a low cost on demand printing technique which will replace the nozzles of an inkjet printer with a mesh covered chemically treated nano wires that repel water?

A) IIT Madras

B) IIT Hyderabad

C) IISc, Bengaluru

D) IIT Delhi

E) IIM Ahmedabad

17) The factory of which Indian company is all set to be awarded the Green Factory Building Certification By IGBC?

A) Schneider

B) Fanuc

C) Kuka

D) ABB

E) Abbot

18) Which of the following countries convened the G20 Foreign Ministers’ Extraordinary Meeting (Virtual) on Strengthening the International Cooperation Across Borders?

A) UK

B) Israel

C) Oman

D) Lebanon

E) Saudi Arabia

19) Who among the following has been appointed as a secretary in the Ministry of Statistics and Programme Implementation (MoSPI) from September 1?

A) Lalit Gupta

B) Kshatrapati Shivaji

C) Om Prakash

D) Rajiv Sinha

E) Rajendra Tiwari

20) Which of the following states has received its first ever inland shipping cargo from Bangladesh?

A) Nagaland

B) West Bengal

C) Tripura

D) Mizoram

E) Manipur

21)  Which of the following companies has bagged its first significant contract from the Defence Ministry for supplying four regiments of Pinaka Weapon Systems?

A) GRSE

B) HAL

C) Reliance

D) L&T

E) Infosys

22) As per the RBI’s revised PSL guidelines, banks are required to finance startups up to _____ crore.

A) 25

B) 150

C) 75

D) 100

E) 50

23) ShriVallabh Pittie (SVP) International Group has inked an MoU with which state government to invest Rs 4,000 cr in aviation and textile sectors?

A) Uttar Pradesh

B) Chhattisgarh

C) Rajasthan

D) Madhya Pradesh

E) Haryana

24) Who among the following has been named as India’s next envoy to Italy?

A) Sukesh Kumar

B) Anand Sinha

C) Suresh Ranjan

D) Ravish Kumar

E) Dr Neena Malhotra

25) Name the book which will be launched by Pope Francis and is a product of numerous exchanges between Pope Francis and his biographer Austen Ivereigh.

A) The Light of Faith

B) Let Us Dream

C) Joy of Gospel

D) Name of God is Mercy

E) Happiness in this Life

26) Who among the following has inaugurated the ‘2 Days’ National Tribal Research Conclave’ being held virtually?

A) Anurag Thakur

B) Prahlad Patel

C) Arjun Munda

D) Nitin Gadkari

E) Amit Shah

27) Which of the following companies has won the National Management Games 2020 organized by the All India Management Association?

A) BDL

B) BEL

C) ONGC

D) NTPC

E) BHEL

28) The Data security council of India along with which company has released a study report on Fraud & Risk Management in Digital Payments?

A) Xiaomi

B) PayU

C) Google

D) Venmo

E) PayPal

Answers:

1) Answer: C

US President Donald Trump announced Wilmington in southern US state North Carolina as the first World War II Heritage City at a ceremony held to mark the 75th anniversary of the end of World War II.

During the war, Wilmington was the site of the North Carolina Shipbuilding Company, which built 243 ships in five years as part of the federal government’s emergency shipbuilding program.

2) Answer: D

Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) signed  an MoU with CSIR-IICT, a premier R & D institute in the country to set up a bulk drug pharma park in the state with the Centre’s support.

CSIR has been established to carry out research in chemical sciences leading to innovative processes for a variety of products necessary for human welfare such as food, health, energy and environment and the conduct of R&D work.

The MoU signing session via virtual mode from Nellore, senior officials from both the sides exchanged documents at the APIIC headquarters in Mangalagiri.

3) Answer: E

David Capel, the former cricket all rounder who played 15 Tests and 23 one-day internationals for England from 1987-1990, has passed away.

Capel had been diagnosed with a brain tumor in 2018.

Capel made 270 first-class appearances for Northamptonshire from 1981-1998 and became the first cricketer born in the county to play a test for England in 77 years when he made his debut against Pakistan in July 1987.

4) Answer: B

Pang Lhabsol is one of the most historically significant festivals celebrated in Sikkim.

Pang Lhabsol is a unique festival of Sikkim and commemorates the consecration of Mount Khangchendzonga as the guardian deity of Sikkim.

This unique festival of Sikkim is celebrated annually on the fifteenth day of the seventh month of the Tibetan calendar corresponding to late August or early September to commemorate the consecration of Mount Khangchendzonga as the Guardian Deity of the State.

This festival also commemorates the historic swearing of blood brotherhood between the Lepchas and the Bhutias at Kabi Longchok under the witness of Mount Khangchendzonga.

5) Answer: D

The police in Bihar’s Arwal district have started writing case diaries through an automated transcription system in stations in the district.

In 9 out of 11 police stations of Arwal district, which was once infested by extremists, case diaries are written by investigation officers (IOs) under the Crime and Criminal Tracking Network and System (CCTNS).

The case diary, written by an IO through the voice recording system, will be available online in the mobile phones of the concerned IOs as well.

The most important feature of this system is that an IO can paste the statement of evidence along with the case diary and send it to the court online.

6) Answer: C

The Indian Institute of Science (IISc), Bengaluru, maintained its lead as the country’s top institution in the Times Higher Education (THE) World University Rankings 2021.

Following IISc, which was ranked globally in the 301-350 band, were the Indian Institute of Technology (IIT) Ropar and IIT Indore, which retained their second and third spots, respectively, among the Indian institutions on the list.

Among the ones making their debut from India, the Indraprastha Institute of Information Technology (Delhi), King George’s Medical University (Lucknow), and the Mahatma Gandhi University (Delhi) ranked highest (601-800 band).

While globally, the UK’s University of Oxford retained the top spot for the fifth consecutive year, China’s Tsinghua University became the first Asian university to break into the Top 20 since the current methodology launched in 2011.

7) Answer: E

Justice Arun Kumar Mishra, who took over as a Supreme Court judge back in the year 2014, retires from the apex court.

Justice Mishra recently delivered key judgments including granting 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the adjusted gross revenue (AGR) dues to the Department of Telecommunications (DoT).

A bench headed by Justice Mishra held that daughters, like sons, have an equal birthright to inherit joint Hindu family property.

He also recently held activist-lawyer Prashant Bhushan guilty in a contempt case for his two tweets which were critical of the top court and imposed fine of Re 1 on him.

8) Answer: C

IIT Delhi incubated startup Chakr Innovation has launched ‘Chakr DeCoV’ to decontaminate N95 masks.

Chakr DeCoV is built with an innovative decontamination mechanism, which utilises the high penetrability of Ozone gas for cleaning the pores of the N95 mask, ensuring complete decontamination of its intricate layers.

Ozone is a strong oxidizing agent that destroys viruses by diffusing through the protein coat, resulting in damage to the viral RNA.

Proper dosage and exposure of Ozone can result in inactivation of SARS CoV-2 and a 99.9999 percent reduction in bacterial load, after which an N95 mask can be reused for up to 10 times without any impact on the filtration efficiency.

9) Answer: B

Private sector lender South Indian Bank said the Reserve Bank of India (RBI) has approved appointment of Murali Ramakrishnan as its MD and CEO with effect from October 1. He will replace V G Mathew.

Ramakrishnan had retired from ICICI Bank as Senior General Manager at Strategic Project Group on May 30, 2020, and joined the South Indian Bank as an advisor on July 1, 2020.

His tenure is for a period of three years with effect from October 1, 2020.

10) Answer: E

The Appointments Committee of Cabinet (ACC) approved restructuring of Railway Board and appointed Vinod Kumar Yadav as the Chairman and Chief Executive Officer (CEO) of the Board.

Yadav is currently the chairman of Railway Board.

There will be four other members, who will be incharge of — infrastructure, rolling stock, finance and operations and business development.

Pradeep Kumar has been appointed member, infrastructure, PC Sharma as member, traction and Rolling Stock, PS Mishra has been made member, operations and business development. Manjula Rangarajan has been appointed member, finance.

11) Answer: B

Defence Institute of Advanced Technology (DIAT), a Deemed to be University located near Khadakwasla, has developed herbal-based immunity-boosting room freshener product named “Healthy Air” to contain the spread of Coronavirus disease (COVID19).

The product Healthy Air has been developed by Deptt of Metallurgical and Materials Engineering with various extracts of herbal oils like Neem, Neelgiri, Camphor, Daalcheeni, Tulsi, Lemon, Turmeric, Laung, Ajwain, Lavender, Elaichi, Turmeric, Natural Vetiveru, Raimuniya and Pine Oil.

The product has resulted in removing the toxic fumes, cleanses the air, and does not contain any synthetic solvent/surfactant in its formulation.

Healthy Air does not contain any synthetic chemicals nor secondary solvents. Whereas the commercial room fresheners mostly contain synthetic adsorbents, surfactants, disinfectants, oxidizers, allergens, and chemical air sanitizers in the main formulation could affect respiratory system & brain neural sensing, do not contain any immunity-boosting agents and does not possess the antibacterial properties.

12) Answer: D

The twin children of billionaire Mukesh Ambani, Akash and Isha, have made it to the Fortune’s latest ’40 Under 40′ list of influential people around the world.

Fortune credited Akash and Isha for helping seal the company’s recent megadeal with Facebook and for major follow-on investments from tech giants like Google, Qualcomm, and Intel.

Recently, Akash and Isha helped launch Jio Mart, a venture that aims to challenge Amazon and Walmart’s Flipkart for command of India’s massive and fast-growing online shopping market.

Byju’s CEO Raveendran, 39, made it to the list for showing that it is possible to build a massively successful online education company and Xiaomi India Managing Director Manu Kumar Jain, among others.

13) Answer: E

Indian Grandmaster P Iniyan won the prestigious Annual World Open online chess tournament.

Iniyan defeated Grandmasters Baadur Jobava of Georgia, Sam Sevian, Sergey Erenburg of USA and Nyzhyk Illia of Ukraine.

A total number of 120 players from 16 countries participated in the event which included more than 30 Grandmasters.

Iniyan had recently defeated world number two Fabiano Caruana in an online blitz event.

14) Answer: C

RBL Bank has launched cardless cash withdrawal facility from ATMs, leveraging the Instant Money Transfer (IMT) system.

It has tied-up with Empays Payment Systems, a global financial technology provider, to offer this service.

To avail the service a customer has to log into RBL Bank’s MoBank app to locate an ATM that supports the IMT function and initiate cash withdrawal by either using his or her mobile number linked to the account or by following a few easy steps on the app.

The customer selects the IMT button on the mobile app, gets a code, and uses it to withdraw money from the ATM.

15) Answer: D

The Appointments Committee of the Cabinet (ACC) has given its approval for the appointment of S Krishnan as Managing Director and CEO of Punjab & Sind Bank.

Prior to this elevation, Krishnan was an Executive Director at Canara Bank, a State-owned Bank. He will replace S Harishankar, the current MD and CEO of Punjab & Sind Bank.

16) Answer: C

The researchers at the Centre for Nano Science and Engineering in the Bengaluru based Indian Institute of Science have developed a low cost, on demand printing technique. This new technique replaces the nozzles of an inkjet printer with a mesh covered chemically treated nano wires that repel water.

Because of the short contact time of the impacting droplet with the mesh, the chances of clogging the pore are minimised. The mesh can also be easily cleaned and reused. This is useful for 3D printing of living cells, ceramic materials, electronic circuits and machine components.

The Associate Professor in the Centre for Nano Science, Prosenjit Sen says that the new technique reduces the operational cost of the printer.  The PhD student in the Centre, Chandantaru Dey Modak says that the capability to print a wide range of droplet sizes while using this application makes the new technique of printing unique.

17) Answer: D

ABB India has won a gold certification by the Indian Green Building Council (IGBC) for its environmentally-friendly smart factory, becoming the first to be certified as a green building within the Nashik industrial area which houses about 10,000 factories across various industries.

IGBC is a consensus-driven not-for-profit council formed with the aim of enabling an environmentally cohesive ecosystem. The IGBC green factory buildings is the first rating programme developed in India for the industrial sector. This is based on globally accepted energy and environmental principles and strikes a balance between known established practices and emerging concepts.

18) Answer: E

The G20 Foreign Ministers’ Extraordinary Meeting was convened by the current G20 Chair, the Kingdom of Saudi Arabia. The Minister of Foreign Affairs of the Kingdom of Saudi Arabia, His Highness Prince Faisal Bin Farhan Al-Saud, chaired the meeting. EAM Dr. S. Jaishankar represented India.

This virtual meeting was convened in the backdrop of the COVID-19 pandemic crisis. The discussions centred on strengthening international cooperation across borders in wake of COVID-19 crisis. The Ministers also exchanged national experiences and lessons learned from the cross-border management measures taken in response to the COVID-19 pandemics.

In his remarks, EAM commended Saudi Arabia for its proactive approach in bringing G20 countries together for dealing with this COVID-19 pandemic.

EAM called on Governments around the world to ensure that interests of foreign students are protected and movement of stranded seafarers back to their home country is facilitated.

19) Answer: B

The Government of India has appointed Kshatrapati Shivaji, a 1986-batch Maharashtra cadre IAS officer, as secretary in the Ministry of Statistics and Programme Implementation (MoSPI) from September 1. The secretary at this ministry is, by design, known as the chief statistician of India.

But he has only been given additional charge to head India’s statistical system, and the government has not appointed a full-time chief statistician yet. Shivaji will continue to lead the Ministry of Personnel, Public Grievances and Pensions as his main charge until his superannuation at the end of March 2021.

20) Answer: C

The Daukandi (Bangladesh) – Sonamura (Tripura) Inland Waterway Protocol route was operationalised marking a milestone in India-Bangladesh relations.

“Bangladeshi vessel, MB Premier carrying cement started from Daukandi on September 3, 2020, and will reach Sonamura on September 5, 2020, traversing 93 km along the river Gumti. This would be the first-ever export consignment from Bangladesh to Tripura through the inland waterways,” the government stated in a release.

The Protocol for Inland Water Trade & Transit (PIWTT) was signed between India and Bangladesh in 1972 to provide inland waterways connectivity between the two countries, particularly with the North Eastern Region of India and also to enhance bilateral trade.

In the last year, approx. 3.5 MMT of cargo was transported between India and Bangladesh on the protocol routes. The scope of PIWTT has been further expanded by the signing of the second addendum to PIWTT on May 20, 2020, with the inclusion of additional routes and ports of calls.

21) Answer: D

Larsen & Toubro (L&T) stated its defence arm secured a significant contract from the Indian Ministry of Defence (MoD) for supplying four regiments of Pinaka Weapon Systems.

The contract involves supply of Pinaka launchers, battery command posts and associated Engineering Support Package (ESP) for four regiments. The Pinaka launch system has been indigenously developed by L&T as part of Pinaka development program of Defence Research & Development Organization (DRDO, ARDE) and functions as a high tech, all weather, long range, area fire artillery weapon system.

L&T has already executed similar orders from the Ministry of Defence and supplied two regiments of Pinaka systems earlier. With these orders, L&T has served cumulative six out of ten regiments of Pinaka systems with the Indian Army. L&T Defence is also engaged with DRDO for future developments on this artillery system.

As per the L&T’s classification, the valuation of the ‘significant’ order stands between Rs 1,000 crore and Rs 2,500 crore. The announcement was made during market hours today, 4 September 2020.

22) Answer: E

The Reserve Bank of India (RBI) issued revised guidelines for priority sector lending to enable better credit penetration to credit deficient areas and increase lending to small and marginal farmers besides weaker sections.

In addition, the initiative will boost credit to renewable energy and health infrastructure.

The RBI stated bank finance to start-ups up to Rs 50 crore, loans to farmers for installation of solar power plants for solarisation of grid-connected agriculture pumps, and loans for setting up

compressed biogas (CBG) plants have been included as fresh categories eligible for finance under priority sector.

To address regional disparities in the flow of priority sector credit, higher weightage has been assigned to incremental priority sector credit in identified districts where priority sector credit flow is comparatively low.

Besides, the targets prescribed for small and marginal farmers and weaker sections are being increased in a phased manner. Higher credit limit has been specified for farmers producers organisations and companies undertaking farming with assured marketing of their produce at a pre-determined price.

Loan limits for renewable energy have been doubled. For improvement of health infrastructure, credit limit for health infrastructure including those under Ayushman Bharat has been doubled.

The central bank stated it comprehensively reviewed the PSL guidelines to align it with emerging national priorities and bring sharper focus on inclusive development after having wide-ranging discussions with all stakeholders.

23) Answer: C

The Rajasthan government signed a Memorandum of Understanding (MoU) with ShriVallabh Pittie (SVP) International Group for development of facilities related to aviation, defence and textile sectors.

Investment of Rs 4,000 crore is estimated under the projects which would generate employment for more than 4,000 people, an official release stated.

The MoU was signed between the company representatives and state industry department officials in presence of Chief Minister Ashok Gehlot.

The company proposed to develop a project for defence and aerospace, including aircraft maintenance, repair and overhaul (MRO) facility, aviation academy and a project related to textile.

The projects are proposed to be developed at mutually agreed locations in the state.

The state government also directed to constitute a committee under the chairmanship of Principal Secretary, Industries for speedy implementation of the projects, the release stated

24) Answer: E

Diplomat Dr Neena Malhotra has been appointed as the next Ambassador of India to Italy, the Ministry of External Affairs (MEA) stated.

Malhotra is a 1992-batch Indian Foreign Service (IFS) officer and is presently Additional Secretary in the ministry.

She is expected to take up the assignment shortly, according to the MEA.

25) Answer: B

The book titled, “Let Us Dream” is a product of the numerous exchanges between Pope Francis and his biographer Austen Ivereigh, in the weeks following the coronavirus outbreak around the world.

It will hit the stands on December 1 in English and Spanish editions simultaneously.

In the book, Pope Francis explains how a crisis can teach one to deal with the problems that they may face in their lives, by looking at three major crises in his personal life.

According to them, the book will also offer a scathing critique of the systems and ideologies that conspired to produce the current crisis, “from a global economy obsessed with profit and heedless of the people and environment it harms, to politicians who foment their people’s fear and use it to increase their own power at their people’s expense”.

26) Answer: C

Union Minister for Tribal Affairs Shri Arjun Munda has stated that the Ministry of Tribal affairs is funding  26 Tribal Research Institutes (TRIs) for research under Grant to TRIs and is engaged in quality research in collaboration with reputed Government and Non-Government Organizations (NGOs) spread over the country. National Institute for Tribal Research is being set up in partnership with IIPA at the IIPA premises in Delhi, the Minister stated.

These partner organizations are designated as Centres of Excellence. Addressing at   the inaugural session of “National Tribal Research Conclave” organized by Centre of Excellence (CoE) for Tribal Affairs, (M/o Tribal Affairs), Indian Institute of Public Administration (IIPA), New Delhi here today, he stated that his Ministry along with such partner organisations design workable models which provide end to end solution, like problem identification, finding solution and execution of the project as part of Action research which can be implemented by policy initiatives.

27) Answer: D

Team NTPC Vallur from Tamil Nadu has overcome a stiff challenge to emerge as winner at the recently concluded AIMA Chanakya (Business Simulation Game) National Management Games(NMG)2020, an all India competition for corporates. The competition was organized by All India Management Association, a NTPC press release said.

The victory was also significant since NTPC won the prestigious NMG for the first time in five years.

The team from NTPC Vallur, Tamil Nadu achieved the feat of being crowned the national champion after competing against teams from 112 organisations from different parts of the country, it said.

Team NTPC Vallur qualified for the regional rounds, which was held online and subsequently qualified for the finals.

AIMA Chanakya National Management Games, an online Business Simulation Game, conducted every year is aimed at ensuring that participating executives from various industries get an introduction to the complexities of running an organisation and gain expertise and skills from this event.

28) Answer: E

Data Security Council of India and PayPal India, released a study report on Fraud & Risk Management in Digital Payments by Lt. Gen (Dr) Rajesh Pant, National Cyber Security Coordinator, GoI in the presence of K. Rajaraman, Addl. Secretary, Dept. of Economic Affairs, Ministry of Finance.

The report attempts to discuss sophisticated online payment fraud mechanisms, threats in the payment ecosystem, incorporating better fraud prevention strategies, role of upcoming technologies, and recommendations for various stakeholders involved in the payment ecosystem.

UPI transactions in India have crossed 1.49 bn in volume and USD 41bn in transaction value, in July 2020. RBI predicts the number of digital transactions to increase from INR 2069cr in Dec’2018 to INR 8707cr by Dec’2021.

The internet user base is expected to grow to 835 million by 2023 from 560 million in 2018. As of March 31, 2019, 925 million debit and 47 million credit cards have been issued in India, second only to China. As a result of the above momentum, the growth of online shoppers is 73% in tier-I cities whereas a staggering 400% in tier-II and tier-III cities.

The report covers various types of fraud scenarios such as buyer side, merchant side and cyber security frauds, and recent fraud case studies with their modus operandi. The key challenges to safeguard frauds remain fraud detection, investigation and legislative challenges, multilevel awareness, cross-industry collaboration, security as a cost overhead, privacy laws, and organized criminal involvement.

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