Home » Daily Current Affairs Quiz – 10th April 2024

This post is also available in: हिन्दी (Hindi)

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 10th April 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.

Start Quiz

1) In FY24, disbursements for small business loans under the Pradhan Mantri Mudra Yojana (PMMY) reached a record high of ₹5 lakh billion, according to government data. What is the maximum loan amount offered to non-corporate, non-farm small/micro enterprises?

(a) Rs.15lakhs

(b) Rs.10lakhs

(d) Rs.20lakhs

(e) Rs.5lakhs

2) How many crores has the Securities and Exchange Board of India approved for Aadhar Housing Finance’s IPO, which is backed by Blackstone?

(a) Rs.1000crores

(b) Rs.2000crores

(d) Rs.4000crores

(e) Rs.5000crores

3) Tata Mutual Fund has launched six sectoral and thematic index funds.The New Fund Offer (NFO) for these schemes is open until April 22, 2024. How much is the minimal investment during the NFO period?

(a) Rs.1000

(b) Rs.3000

(d) Rs.7000

(e) Rs.10000

4) Kotak Alternate Asset Managers”Iconic Fund’ raises Rs 2,000 crore for equity investments. In addition, Kotak Iconic Fund can accept investments from how many offshore jurisdictions?

(a) 5

(b) 4

(d) 7

(e) 8

5) The Reserve Bank of India and the National Payments Corporation of India recommend strategies to reduce cross-border remittance expenses by what percentage?

(a) 2%

(b) 3%

(d) 5%

(e) 6%

6) The Ministry of Skills Development and Entrepreneurship has released draft guidelines for establishing the Academic Bank of Credit (ABC), which will enable the implementation of the National Credit Framework as outlined in the National Education Policy by which year?

(a) 2019

(b) 2018

(d) 2022

(e) 2021

7) Which bank provided Tata Steel with a ₹2,675 crore lending facility to repay its existing debt over a 3-year period?

(a) HDFC bank

(b) ICICI bank

(d) YES bank

(e) IndusInd bank

8) In a first-of-its-kind initiative, the Election Commission of India (ECI) organized a ‘Conference on Low Voter Turnout’ with Municipal Commissioners and District Education Officers (DEO) from how many states to enhance voter turnout in the upcoming Lok Sabha Elections?

(a) 2

(b) 3

(d) 5

(e) 6

9) In March 2024, India’s fuel usage decreased by what percentage year over year?

(a) 0.2%

(b) 0.4%

(d) 0.8%

(e) 0.5%

10) Manoj Panda is appointed to the 16th Finance Commission by the Central Government. As advised by the 15th panel, what percentage of federal taxes does India currently split with the states?

(a) 40%

(b) 41%

(d) 44%

(e) 45%

11) With the resignation of managing director Thierry Delaporte, Srinivas Pallia will assume the role of chief executive officer of Wipro. He was the Chief Operating Officer of which IT company before becoming the CEO of Wipro?

(a) HCL

(b) TCS

(d) Tech Mahindra

(e) Accenture

12) Peter Pellegrini, prevails the Presidential Election in Slovakia. What is Slovakia’s currency?

(a) Euro

(b) Franc

(d) Pound Sterling

(e) Peso

13) How much crore would be invested in Biodeal Pharmaceuticals by Piramal Alternatives, the Piramal Group’s investment arm?

(a) Rs.100crores

(b) Rs.110crores

(d) Rs.130crores

(e) Rs.140crores

14) Following an increase in stocks, the market capitalization of BSE-listed companies reached a milestone of Rs 400 trillion. In July 2023, how many trillions of dollars did the market capitalization of companies listed on the BSE reach?

(a) Rs 300 trillion

(b) Rs 100 trillion

(d) Rs 500 trillion

(e) Rs 400 trillion

15) According to interim official figures, India was a net importer of finished steel in the fiscal year 2023-24, ending on March 31. How many million metric tons of finished steel did the country import between April and March?

(a) 8.1 million

(b) 8.2 million

(d) 8.4 million

(e) 8.5 million

16) In February 2024, the number of telecom customers in India climbed by what percentage to 119.7 crore from the previous month, according to a TRAI data?

(a) 0.32%

(b) 0.36%

(d) 0.38%

(e) 0.30%

17) Reliance and Disney announce a strategic joint venture to bring together India’s most compelling and engaging entertainment brands. The partnership represents Disney’s _________ avatar in India, following agreements with the K.K. Modi Group in 1993 and Ronnie Screwvala’s UTV Software Communications in the mid-2000s.

(a) 3rd

(b) 4th

(d) 6th

(e) 7th

18) Bharat Biotech has partnered with Bilthoven Biologicals BV to manufacture and distribute oral polio vaccines. The vaccinations will be created utilizing drug ingredients produced by Bilthoven Biologicals, this is based in which country?

(a) Germany

(b) Netherland

(d) Canada

(e) Australia

19) Nagal stuns world number 38 Arnaldi, making history in the Monte Carlo Masters. This is Nagal’s ______ victory over a top-50 player this season.

(a) 3rd

(b) 4th

(d) 6th

(e) 7th

20) According to Drikpanchang, Ugadi will be held on April 9 this year. Ugadi, also known as Samvatsaradi, marks the start of the new Samvat. How many years does the Samvatsara cycle last in relation to Jupiter’s location?

(a) 50year

(b) 60year

(d) 40year

(e) 30year

Answers :

1) Answer: B

According to the latest Government data, Small business loans under the Pradhan Mantri Mudra Yojana (PMMY) witnessed record growth in disbursals in FY24 and also crossed the milestone of ₹5 lakh crore.
The PMMY is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises.

Detailed Explanation:

According to the latest Government data, Small business loans under the Pradhan Mantri Mudra Yojana (PMMY) witnessed record growth in disbursals in FY24 and also crossed the milestone of ₹5 lakh crore.
Loans sanctioned in the last financial year were higher at ₹5.28 lakh crore.
The total disbursals stood at ₹5.20 lakh in the year ended March 2024, as against ₹4.40 lakh crore in the previous financial year.
Nearly 70% of the beneficiaries of these loans are women.
With this, approximately ₹46 lakh crore has been disbursed in Mudra loans since the introduction of the scheme in 2015, if we include the provisional figures for FY24,.
There is also an institutional framework that encourages lenders to push disbursal of Mudra loans further, such as the guarantee provided by the National Credit Guarantee Trustee Company Limited. (NCGTC) against the eligible micro units under PMMY.
Notably, the gross non-performing assets (NPAs) in PMMY have declined from 3.17% The PMMY is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises.
These loans are classified as MUDRA loans under PMMY.
Types of Lenders: MUDRA loans are offered by Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, Microfinance Institutions (MFIs), and Non-Banking Financial Companies (NBFCs).
Application Process: Borrowers can approach any of the mentioned lending institutions directly or apply online through the portaludyami mitra.in.
Loan Categories:
Three products under PMMY: Shishu (up to ₹50,000), Kishor (above ₹50,000 and up to ₹5 lakh), and Tarun (above ₹5 lakh and up to ₹10 lakh).
These categories signify the stage of growth/development and funding needs of the micro unit/entrepreneur.

2) Answer: E

Aadhar Housing Finance Limited (AHFL), focused on low-income housing in India, has received final observations from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The company aims to raise approximately ₹5,000 crore through the IPO.

Detailed Explanation:

Aadhar Housing Finance Limited (AHFL), focused on low-income housing in India, has received final observations from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The company aims to raise approximately ₹5,000 crore through the IPO.
AHFL had previously submitted draft papers in February 2024.
The new issue plan includes a new equity offering totaling ₹1,000 crore alongside a ₹4,000 crore offer for sale.
Within the offer for sale (OFS), promoter BCP Topco VII Pte will divest its stake.
BCP Topco, an affiliate of funds managed by Blackstone, currently holds 7% of the pre-offer issued, subscribed, and paid-up equity share capital.AHFL targets economically weaker and low-to-middle income customers, providing small-ticket mortgage loans, with an average ticket size of ₹0.9 million and average loan-to-value ratios of 57.6% and 58.1% as of September 30, 2022, and September 30, 2023, respectively.
According to Crisil, AHFL had the highest Assets Under Management (AUM) and net worth among its peers in the six months ending September, reflecting its market position.
The company operates through a network of 471 branches, including 91 sales offices.
Book Running Lead Managers for the IPO include ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital, Nomura Financial Advisory and Securities, and SBI Capital Markets.

3) Answer: C

Tata Mutual Fund has launched 6 thematic index funds focused on various sectors including infrastructure, healthcare, realty, financial services, automobile, and manufacturing.
The new fund offer (NFO) of these schemes is available for subscription till April 22, 2024.
The minimum investment during the NFO period is ₹5,000.

Detailed Explanation:

Tata Mutual Fund has launched 6 thematic index funds focused on various sectors including infrastructure, healthcare, realty, financial services, automobile, and manufacturing.
The new fund offer (NFO) of these schemes is available for subscription till April 22, 2024.
The minimum investment during the NFO period is ₹5,000.
Industry Firsts: Among the 6 schemes, 3 are industry firsts : Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund, Nifty 500 Multicap 50:30:20 Infrastructure Index Fund and Nifty MidSmall Healthcare Index Fund — are a first in the industry.
Other Schemes: The remaining 3 schemes are Nifty Realty Index Fund, Nifty Financial Services Index Fund, and Nifty Auto Index Fund.

About 6 thematic index funds:

Investment Framework: The infrastructure and manufacturing index funds follow a multicap framework with fixed allocations across largecap, midcap, and smallcap companies in the proportion of 50:30:20.
Market Trends and Drivers: The decision to introduce these index funds is driven by rising income levels and compelling consumer trends, indicating market demand and potential growth opportunities in these sectors.
Passive Investing Trend: With passive investing gaining traction, fund houses are exploring opportunities in this space through index funds and exchange-traded funds (ETFs).
Regulatory Filings:In March 2024, fund houses filed papers with the Securities and Exchange Board of India (SEBI) for three passive funds, indicating ongoing developments and regulatory compliance in the mutual fund industry.
Index funds passively track the performance of a specific index and provide exposure to a diversified basket of stocks, mostly in a specific theme. They operate passively, eliminating the need for active stock selection, resulting in transparency and cost-efficiency compared to actively managed funds.

4) Answer: A

Kotak Mahindra Bank’s asset management arm Kotak Alternate Asset Managers Limited has raised Rs 2,000 crore to invest in equities.
Kotak Alternate Asset Managers’‘Iconic Fund’ is a Sebi-registered category III Alternative Investment Fund (AIF) and an open-ended platform conceptualised as an equity multi-advisor portfolio solution.
Additionally, Kotak Iconic Fund is capable of accepting investments from five offshore jurisdictions, including the United States (US), United Kingdom (UK), Singapore, DIFC, and Hong Kong, offering a convenient platform for non-resident investors to access the Indian equity markets.

Detailed Explanation:

Kotak Mahindra Bank’s asset management arm Kotak Alternate Asset Managers Limited has raised Rs 2,000 crore to invest in equities.
Kotak Alternate Asset Managers’‘Iconic Fund’ is a Sebi-registered category III Alternative Investment Fund (AIF) and an open-ended platform conceptualised as an equity multi-advisor portfolio solution.
Aim of the fund : To solve the challenge of building and maintaining equity portfolios amid the difficulties faced by investors due to the market volatilities.
Additionally, Kotak Iconic Fund is capable of accepting investments from five offshore jurisdictions, including the United States (US), United Kingdom (UK), Singapore, DIFC, and Hong Kong, offering a convenient platform for non-resident investors to access the Indian equity markets.
Kotak Alt under Kotak Optimus and Kotak Iconic offer multi-asset and equity discretionary portfolio solutions to both resident and non-resident investors having varying investment objectives.

5) Answer: B

The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have collaborated to propose measures to the World Trade Organisation (WTO) aimed at reducing the cost of cross-border remittances.
The Reserve Bank of India and the National Payments Corporation of India recommend strategies for reducing cross-border remittance expenses to 3%.
The current costs of cross-border remittances can be as high as 8%, prompting the need for measures to reduce these expenses.

Detailed Explanation:

The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have collaborated to propose measures to the World Trade Organisation (WTO) aimed at reducing the cost of cross-border remittances.
The current costs of cross-border remittances can be as high as 8%, prompting the need for measures to reduce these expenses.
Presentation to WTO: A presentation outlining strategies to lower cross-border remittance costs was delivered by RBI and NPCI during a seminar conducted by the WTO’s Committee on Trade in Financial Services on March 25, 2024.
International Cooperation: The seminar was organized following a proposal from India, Philippines, and South Africa, indicating international cooperation in addressing this issue.
Sustainable Development Goal (SDG) Target: India aims to bring the cost of remittances below 3% and eliminate remittance channels costing more than 5% by 2030, aligning with the UN Sustainable Development Goal (SDG) target.
Discussion at WTO Conference: The issue of reducing remittance costs was also discussed at the 13th Ministerial Conference of the WTO in Abu Dhabi, indicating its significance at the international level.
Current Remittance Costs: On average, remittance services currently represent 6.2% of the transferred amount, with 3% charged at the sending point and 3% at the receiving point.
Importance of Remittance Flows: Remittance flows into low- and middle-income economies totalled $669 billion in 2023 and are anticipated to increase in the future.
India stands as the largest recipient of remittances globally, receiving Rs 125 billion in 2023.
Comparison with Other Countries: India’s significant position as a remittance receiver is highlighted by the fact that it surpassed other countries, with Mexico receiving $67 billion and China receiving $50 billion in 2023.

6) Answer: C

The Ministry of Skills Development and Entrepreneurship has notified draft guidelines for setting up the Academic Bank of Credit (ABC), paving way for implementation and operationalization of the National Credit Framework as envisaged under the National Education Policy 2020.
Purpose of ABC : The Academic Bank of Credit is a digital repository that stores credit information earned by students or learners throughout their educational journey.

Detailed Explanation:

The Ministry of Skills Development and Entrepreneurship has notified draft guidelines for setting up the Academic Bank of Credit (ABC), paving way for implementation and operationalization of the National Credit Framework as envisaged under the National Education Policy 2020.
Purpose of ABC : The Academic Bank of Credit is a digital repository that stores credit information earned by students or learners throughout their educational journey.
Registration Requirement: Recognized awarding bodies are mandated to register both their credentials and the students or learners under the ABC framework.
Individual Accounts: Under ABC, every student or learner will have an academic bank of credit account, which will be opened and operated by a student/learner, through an unique Automated Permanent Academic Account Registry (APAAR) ID.
Credit Assignment: Students or learners will be allocated credits upon successful completion of a qualification, job role, or learning course aligned with National Occupational Standards (NOS), MicroCredentials (MC), or qualifications.
Recognition Basis: Recognition of credits is contingent upon predefined outcomes at a specified level of the National Credit Framework (NCrF) or National Skill Qualification Framework (NSQF), subject to successful assessment of achieved learning outcomes.

7) Answer: B

ICICI Bank has provided a ₹2,675 crore debt facility to Tata Steel for a term of 3 years to repay its existing debt.
Tata Steel is among the top three steel producers in India with 21.6 million tonnes per annum of crude steel capacity on a standalone basis.

Detailed Explanation:

ICICI Bank has provided a ₹2,675 crore debt facility to Tata Steel for a term of 3 years to repay its existing debt.
It added that documents filed with the National Securities Depository showed that Tata Steel has raised Rs 2,700 crore through unsecured fixed-rate bonds at 7.79%.
The documents showed that Tata Steel will make a bullet payment to both investors on March 27, 2027.
Tata Steel is among the top three steel producers in India with 21.6 million tonnes per annum of crude steel capacity on a standalone basis.
The company targets to expand its total capacity to 40 mtpa by FY30.

8) Answer: A

In a first-of-its-kind initiative, the Election Commission of India (ECI) held a ‘Conference on Low Voter Turnout’ with Municipal Commissioners and District Education Officers (DEO) Bihar & Uttar Pradesh from select districts to increase voter turnout in the ensuing Lok Sabha Elections.
According to an official release from the ECI, “In a day-long ‘Conference on Low Voter Turnout’ held at Nirvachan Sadan, New Delhi, Municipal Commissioners from major cities and select District Election Officers (DEOs) from Bihar and Uttar Pradesh deliberated together to chart a path towards enhancing voter engagement and participation in identified urban and rural PCs.”

Detailed Explanation:

In a first-of-its-kind initiative, the Election Commission of India (ECI) held a ‘Conference on Low Voter Turnout’ with Municipal Commissioners and District Education Officers (DEO) from select districts to increase voter turnout in the ensuing Lok Sabha Elections.
Ahead of the polling in the ongoing general elections in 2024, the poll body has accelerated efforts to enhance voter turnout in parliamentary constituencies (PCs) with a history of low poll participation in previous general elections.
According to an official release from the ECI, “In a day-long ‘Conference on Low Voter Turnout’ held at Nirvachan Sadan, New Delhi, Municipal Commissioners from major cities and select District Election Officers (DEOs) from Bihar and Uttar Pradesh deliberated together to chart a path towards enhancing voter engagement and participation in identified urban and rural PCs.”
The conference was chaired by Chief Election Commissioner Rajiv Kumar, along with Election Commissioners Gyanesh Kumar and Sukhbir Singh Sandhu.
A booklet on “Voter’s Apathy” was also unveiled by the Chief Election Commissioner on the occasion.

9) Answer: C

India’s fuel consumption declined by 6 percent year-on-year (y-o-y) in March.
However, demand for the 2024 financial year increased by about five percent, primarily due to higher sales of automotive fuel and naphtha.
Preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed that the total consumption, a proxy for oil demand, stood at 09 million metric tonnes (4.99 million barrels per day) in March.

Detailed Explanation:

India’s fuel consumption declined by 6 percent year-on-year (y-o-y) in March.
However, demand for the 2024 financial year increased by about five percent, primarily due to higher sales of automotive fuel and naphtha.
Preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed that the total consumption, a proxy for oil demand, stood at 09 million metric tonnes (4.99 million barrels per day) in March.
This was a slight decrease from 22 million tonnes (5.02 mbpd) recorded in the same period last year.
However, fuel demand for the financial year ending in March 2024 reached a record high of 276 million tonnes (4.67 mbpd), up from 223.021 million tonnes (4.48 mbpd) the previous year.
Diesel sales, primarily used by trucks and commercial passenger vehicles, increased by 1 percent y-o-y to 8.04 million tonnes in March and was up 4.4 percent for the previous fiscal year.
Meanwhile, sales of gasolinein March grew by 9 percent y-o-y to 3.32 million tonnes and were up 6.4 percent for the fiscal year.
Sales of Bitumen, crucial for road construction, remained largely stable in March but saw a 9 percent rise for the fiscal year.
Sales of liquefied petroleum gas (LPG), commonly known as cooking gas, increased by 6 percent to reach 2.61 million tonnes, and naphtha sales saw a significant rise of 5.5 percent to about 1.19 million tonnes, compared to the same period last March. The usage of fuel oil, on the other hand, experienced a decline of 9.7 percent y-o-y in March and declined by 6.3 percent for the fiscal year.

10) Answer: B

Manoj Panda, formerly the director at the Institute of Economic Growth, has been appointed as a full-time member of the 16th Finance Commission by the Government of India (GoI).
The Finance Commission is a constitutionally-mandated body established once every 5 years to devise a formula for distributing net tax proceeds between the Centre and the states as well as among states and local bodies.
Currently, India shares 41% of federal taxes with states as recommended by the 15th panel.

Detailed Explanation:

Manoj Panda, formerly the director at the Institute of Economic Growth, has been appointed as a full-time member of the 16th Finance Commission by the Government of India (GoI).
The 16th Finance Commission is responsible for formulating recommendations on the revenue-sharing formula between the central government and states for the 5-year period starting from April 2026.
Panda’s tenure as a member of the Commission will last from the date of assuming office until either the submission of the Commission’s report or October 31, 2025, whichever comes earlier.
He replaces Niranjan Rajadhyaksha, Executive Director at Artha Global, who resigned from his position as a member of the Commission due to unforeseen personal circumstances.
Manoj Panda has an extensive background in economics, having served as the Director of the Centre for Economic and Social Studies (CESS) in Hyderabad, as well as holding positions as a Professor and Associate Professor at the Indira Gandhi Institute of Development Research (IGIDR) in Mumbai.
The 16th Finance Commission held its first meeting under the Chairmanship of Arvind Panagariya to discuss its terms of reference on February 14, 2024.
Other full-time members of the Commission include Ajay Narayan Jha, who served on the 15th Finance Commission and was a former secretary of Expenditure, as well as Annie George Mathew, a former special secretary of Expenditure.
Soumya Kanti Ghosh, the group chief economic advisor of the State Bank of India, was appointed as a part-time member of the Commission.
The Finance Commission is a constitutionally-mandated body established once every 5 years to devise a formula for distributing net tax proceeds between the Centre and the states as well as among states and local bodies.
Currently, India shares 41% of federal taxes with states as recommended by the 15th panel.

11) Answer: C

Wipro Chief Executive Officer (CEO) and managing director (MD) Thierry Delaporte has resigned from his position and Srinivas Pallia will succeed him as Wipro’s new MD and CEO.
The Board of Directors noted the resignation of Mr Thierry Delaporte with effect from April 6, 2024.
Before assuming the role of Wipro CEO, he served as the Chief Operating Officer at Capgemini, a renowned French IT firm.

Detailed Explanation:

Wipro Chief Executive Officer (CEO) and managing director (MD) Thierry Delaporte has resigned from his position and Srinivas Pallia will succeed him as Wipro’s new MD and CEO.
The Board of Directors noted the resignation of Mr Thierry Delaporte with effect from April 6, 2024.
He will be relieved from the employment of the Company with effect from the close of business hours on May 31, 2024.
Pallia will take over as the new CEO and MD from April 7, 2024, for a period of 5 years.

About Thierry Delaporte :

Aged 56 and hailing from France, Delaporte boasts three decades of experience in the global IT sector.
Before assuming the role of Wipro CEO, he served as the Chief Operating Officer at Capgemini, a renowned French IT firm.
Appointed as the CEO and Managing Director of Wipro in July 2020.
Delaporte was known as the highest-paid CEO in the Indian IT sector, earning an annual salary of over Rs 82 crore.

About Srinivas Pallia :

Palia will be based in New Jersey.
He is a Wipro veteran and has spent over three decades at the tech company.
Having commenced his journey with Wipro in 1992, he has occupied various leadership positions, notably serving as the President of Wipro’s Consumer Business Unit and as the Global Head of Business Application Services.

12) Answer: A

In Slovakia, Peter Pellegrini ,the ruling nationalist won the Presidential Election defeating opposition independent Ivan Korcok.

About Slovakia :

Prime Minister : Robert Fico
Capital: Bratislava
Currency: Euro.

Detailed Explanation:

In Slovakia, Peter Pellegrini ,the ruling nationalist won the Presidential Election defeating opposition independent Ivan Korcok.
Pellegrini is a close ally of populist Prime Minister Robert Fico.
As 99.9% of ballots have been counted, Peter Pellegrini received 53% of the vote, while Korcok got 47% votes.
Pellegrini succeeded Zuzana Čaputová, the first female President of Slovakia.
Pellegrini also served as the Minister of Health from December 2019 to March 2020, deputy prime minister (2016–2018) and minister for Education and Science (2014), as well as spending two years as speaker of the National Council (2014–2016).
Previously a member of Direction – Social Democracy, he left the party and co-founded and has led Voice – Social Democracy since June 2020
Pellegrini, currently serves as Parliament speaker.

13) Answer: B

Piramal Alternatives, the investment arm of the Piramal Group, has announced an investment of Rs 110 crore in Biodeal Pharmaceuticals.
Biodeal is a contract development and manufacturing organisation.
The funding will be utilised to improve Biodeal’s infrastructure and production capacity.
It will also be directed towards upgrading technology and establishing a nutraceuticals manufacturing facility.

Detailed Explanation:

Piramal Alternatives, the investment arm of the Piramal Group, has announced an investment of Rs 110 crore in Biodeal Pharmaceuticals.
Biodeal is a contract development and manufacturing organisation.
The funding will be utilised to improve Biodeal’s infrastructure and production capacity.
It will also be directed towards upgrading technology and establishing a nutraceuticals manufacturing facility.
Biodeal is already a player in contract manufacturing, offering products such as nasal sprays, dry powder inhalation capsules, tablets, and ointments.
The investment was facilitated through convertible instruments from Piramal’s Performing Credit Fund.
Earlier this year, the company attained its Pharmaceutical Inspection Co-operation Scheme (PIC/S) approval, further solidifying its position in the market.
Emkay Global was the sole financial advisor to Biodeal Pharmaceuticals for this deal.

14) Answer: A

The market capitalisation of BSE-listed companies reached an all-time high of Rs 401.10 trillion on April 8, 2024, following a record rally in equities, wherein the 30-share BSE Sensex scaled its lifetime peak.
The market capitalisation of BSE-listed firms hit the Rs 300 trillion mark in July last year.

Detailed Explanation:

The market capitalisation of BSE-listed companies reached an all-time high of Rs 401.10 trillion on April 8, 2024, following a record rally in equities, wherein the 30-share BSE Sensex scaled its lifetime peak.
This is the first time that the market capitalisation of BSE-listed companies has gone past the coveted Rs 400 trillion mark.
The 30-share BSE benchmark jumped 62 points to reach a new record high of 74,673.84 in early trade.
The market capitalisation of BSE-listed firms hit the Rs 300 trillion mark in July last year.
From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers.

15) Answer: C

India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data.
The country imported 3 million metric tons of finished steel between April and March, up 38.1 percent from a year earlier, the data showed.

Detailed Explanation:

India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data.
The country imported 3 million metric tons of finished steel between April and March, up 38.1 percent from a year earlier, the data showed.
The world’s second-biggest crude steel producer remains a bright spot globally with robust demand from its construction and automotive sectors.
Steel consumption in India jumped 4 percent to 136 million metric tons during the period, reflecting buoyant demand for the alloy in one of the world’s fastest-growing economies.
India’s steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year.

16) Answer: D

The number of telecom subscribers in Indiaincreased 38 percent to 119.7crore in February 2024 as compared to the previous month, according to a TRAI report published.
The urban telephone subscription increased to 37 crore while rural subscription increased to 53.13 crore with a sequential growth rate of 0.40 percent and 0.34 percent, respectively.

Detailed Explanation:

The number of telecom subscribers in Indiaincreased 38 percent to 119.7crore in February 2024 as compared to the previous month, according to a TRAI report published.
The urban telephone subscription increased to 37 crore while rural subscription increased to 53.13 crore with a sequential growth rate of 0.40 percent and 0.34 percent, respectively.
The total broadband subscribers also increased from 10 crore at the end of January to 91.67 crore at February-end, as per the monthly subscriber report published by Telecom Regulatory Authority of India(TRAI).
Top five service providers constituted 35 percent of the total broadband subscribers.
The service provider are Reliance Jio Infocomm (52.2 percent), Bharti Airtel(29.41 percent), Vodafone Idea (13.80 percent), BSNL (2.69 percent), and Atria Convergence (0.24 percent).
The wireline subscriber base at the end of February increased to 31 crore with a monthly growth rate of 1.73 percent.
BSNL, MTNLand APSFL, the three PSUs access service providers, held 18 percent of the wireline market share as on February 29, 2024, TRAI stated.
The report stated 15 crore requests were received in February for mobile number portability.
The highest number of requests received till date since the inception of portability services has been in Uttar Pradesh-East (about 8.86 crore) in North-West zone, and in Madhya Pradesh(about 7.33 crore) in South-East zone.

17) Answer: B

Billionaire Mukesh Ambani’s Reliance Industries Ltd. (RIL) and The Walt Disney Company have agreed to merge their digital streaming and television assets in India, creating an $8.5-billion media behemoth spanning at least 100 channels across entertainment and sports, and two digital streaming platforms.
The merger marks Disney’s fourth avatar in India, following partnerships with the K.K. Modi Group in 1993 and Ronnie Screwvala’s UTV Software Communications in the mid-2000s.

Detailed Explanation:

Billionaire Mukesh Ambani’s Reliance Industries Ltd. (RIL) and The Walt Disney Company have agreed to merge their digital streaming and television assets in India, creating an $8.5-billion media behemoth spanning at least 100 channels across entertainment and sports, and two digital streaming platforms.
The entity also has exclusive rights to sporting events like the Indian Premier League (IPL) and Disney films and productions in India, as well as a diverse international content library.
The former rivals, who were locked in an intense battle over IPL rights until recently, have agreed to form a joint venture (JV) that will solidify RIL’s position in the Indian M&E space and reduce Disney’spresence in the country amid intense competition.
This JV between RIL, its broadcast division Viacom 18 and Disney will bring together TV channels such as Colors, StarPlus, StarGOLD, Star Sports and Sports18 as well as streaming apps JioCinema and Disney+ Hotstar.
The deal will combine the businesses of Viacom18 and Star India, where the media undertaking of Viacom18 will be merged into Star India Private Limited.
The JV will be controlled by
Nita Ambani will be the Chairperson of the JV, while Uday Shankar, Co-founder of Bodhi Tree Systems, which owns a stake in Viacom18, will be the Vice Chairperson.
Shankar, a former Disney India chief who has also led Star India, will provide overall strategic leadership.
The merger marks Disney’s fourth avatar in India, following partnerships with the K.K. Modi Group in 1993 and Ronnie Screwvala’s UTV Software Communications in the mid-2000s.
This is the second big-ticket merger in the Indian media and entertainment sector, following the high-profile announcement of a deal between Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Limited (ZEEL) in September 2021.

18) Answer: B

Bharat Biotech, a leading global vaccine and biotherapeutic innovator, and also the largest manufacturer of oral polio vaccines and Bilthoven Biologicals BV (BBio), a subsidiary of Serum Institute of India Private Limited based in the Netherlands, announced a collaboration to enhance the production and supply security of Oral Polio Vaccines (OPV).
Utilization of Drug Substances: The vaccines will be manufactured using drug substances produced in the Netherlands at Bilthoven Biologicals, emphasizing the international collaboration in vaccine production.

Detailed Explanation:

Bharat Biotech, a leading global vaccine and biotherapeutic innovator, and also the largest manufacturer of oral polio vaccines and Bilthoven Biologicals BV (BBio), a subsidiary of Serum Institute of India Private Limited based in the Netherlands, announced a collaboration to enhance the production and supply security of Oral Polio Vaccines (OPV).
Purpose of Collaboration: The collaboration aims to strengthen the production and supply of Oral Polio Vaccines, with Bharat Biotech being the largest manufacturer of OPVs.
Formalized Agreement: An agreement has been formalized between BBIL (Bharat Biotech International Limited) and BBio, wherein BBIL will procure essential drug substances required for the production of OPVs to be supplied both domestically in India and globally.
Regulatory Approvals: Both companies will work together to obtain the necessary regulatory approvals and licenses for commercial manufacturing of OPVs in India.
Utilization of Drug Substances: The vaccines will be manufactured using drug substances produced in the Netherlands at Bilthoven Biologicals, emphasizing the international collaboration in vaccine production.

19) Answer: A

Sumit Nagal became the first Indian player to win a singles main draw match at an ATP Masters eventon clay when he shocked world number 38Matteo Arnaldi in a gruelling three-set contest in Monte Carlo.
Nagal, who entered the ATP Masters 1000 event via qualifying route, erased a one-set deficit to turn the tables on his Italian opponent for a memorable 5-7, 6-2, 6-4 win in the first round.
He will face world number seven Holger Rune in the 2nd round.
This is Nagal’s third victory over a top-50 player and second time in the current season.

Detailed Explanation:

Sumit Nagal became the first Indian player to win a singles main draw match at an ATP Masters eventon clay when he shocked world number 38Matteo Arnaldi in a gruelling three-set contest in Monte Carlo.
Nagal, who entered the ATP Masters 1000 event via qualifying route, erased a one-set deficit to turn the tables on his Italian opponent for a memorable 5-7, 6-2, 6-4 win in the first round.
He will face world number seven Holger Rune in the 2nd round.
This is Nagal’s third victory over a top-50 player and second time in the current season.
The 26-year-old had toppled the then world number 27 Alexander Bublik in straight sets at the Australian Open in Melbourne at the start of the 2024 season.
He had also defeated then world No. 22 Chilean Cristian Garin at the Argentina Open in March 2021.
Nagal, who qualified into the main draw with wins over higher-ranked players, has ensured himself a career-high rank of 80 on a day when he touched career-high rank of 93.
The first set was on an even keel with both players breaking each other once. Serving to stay in the set, Nagal lost his serve in the 12th game with Arnaldi attacking the Indian’s first serve.
However, Nagal remained unperturbed and broke his rival twice in the second set for a comfortable 4-1 lead. His serve came under pressure in game six but he held and closed the set force a decider.
After trading a break with Arnaldi, Nagal broke his rival’s serve for the second time in the seventh game of the third set to take a 4-3 lead and that proved to be decisive in the final outcome of the match. He consolidated the lead by pocketing the eighth game and served out the match in game 10.
As Arnaldi hit his forehand over the baseline on match point, Nagal let out a roar to celebrate his win.

20) Answer: B

According to Drikpanchang, Ugadi is celebrated on April 9 this year.
Ugadi is also known as Samvatsaradi, which means the start of the new Samvat.
Samvatsara is a 60-year cycle that corresponds to Jupiter’s location.
Each year in the Samvatsara cycle is given a specific name, and the nature of the new Samvat is used to predict the following year.

Detailed Explanation:

Ugadi or Yugadi is grandly celebrated as the first day of the year by the people of Telangana, Andhra Pradesh, and Karnataka.
Ugadi, also known as Telugu New Year, is celebrated on the first day of Chaitra.
It is an important day in most Hindu calendars that are based on lunisolar calendars, and it is also known as Vikram Samvat and Bhartiya Nava Varsha.
According to Drikpanchang, Ugadi is celebrated on April 9 this year.
Ugadi is also known as Samvatsaradi, which means the start of the new Samvat.
Samvatsara is a 60-year cycle that corresponds to Jupiter’s location.
Each year in the Samvatsara cycle is given a specific name, and the nature of the new Samvat is used to predict the following year.

Daily Current Affairs Quiz – 10th April 2024

Add IBPSGuide to your Homescreen!