Home » Daily Current Affairs Quiz – 12th March 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 12th March 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) NPCI International Payments (NIPL), the international division of the National Payments Corporation of India (NPCI), has agreed with the payment network Fonepay Payment Service for cross-border UPI transactions between India and which country?

(a) Nepal

(b) Japan

(d) Singapore

(e) Canada

2) Who has assumed the extra responsibility of serving as Chairman and Managing Director (CMD) of NHPC Limited, the leading hydropower corporation in India and a Government of India (GoI) Schedule “A” Enterprise?

(a) Arun Kumar

(b) Rajendra Prasad Goyal

(d) Visvendra Yadhav

(e) Shyam Saran

3) President Droupadi Murmu has nominated 73-year-old philanthropist and former Infosys Foundation chairperson Sudha Murty to the Rajya Sabha, making her the ______th nominated member of the Upper House of Parliament.

(a) 9^th

(b) 10^th

(d) 12^th

(e) 13^th

4) Which state launched the first Generative Artificial Intelligence (AI) teacher robot in India, called “_______,” marking a significant advancement in the field of education?

(a) Karnataka & Iria

(b) Telangana & Irea

(d) Kerala & Iris

(e) Goa& Ilea

5) Recently (Mar 2024), Which of the following states has started offering Exploration Licenses (EL) for crucial and deep-seated minerals for auction as a trailblazing move to improve the mining industry?

(a) Kerala

(b) Karnataka

(d) Both A & B

(e) Both B & C

6) Which state/UT’s Jasrota region is home to the first Government Homeopathic College, according to announcements made by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology?

(a) Goa

(b) Gujarat

(d) Rajasthan

(e) Jammu & Kashmir

7) According to the recent news (March 2024), Mukhyamantri Solar Swarozgar Yojana is related to which state?

(a) Uttarakhand

(b) Mizoram

(d) Assam

(e) Odisha

8) One of the government of India’s major initiatives, the Remission of Tariffs and Taxes on Exported Products (RoDTEP) Scheme, aims to reimburse different embedded taxes and tariffs on exported goods. The RoDTEP Scheme has export items at the _________-digit ITC HS Code level.

(a) 4

(b) 5

(d) 7

(e) 8

9) By the conclusion of the decade 2014–2024, India will have become the _____–largest producer of mobile phones worldwide.

(a) 1^st

(b) 2^nd

(d) 4^th

(e) 5^th

10) Recently (Mar 2024),Which state hosted the official opening and foundation-laying ceremony for 112 National Highway projects valued over one lakh crore, spearheaded by Prime Minister Narendra Modi?

(a) Bihar

(b) Assam

(d) Haryana

(e) Punjab

11) Who informed that a significant amount of Rs. 1376.10 crore has been allowed for the widening of the current 2-lane Paved Shoulder on National Highway-716 in Tamil Nadu, from Tiruvallur to the border with Andhra Pradesh?

(a) Droupadi Murmu

(b) Narendra Modi

(d) Nitin Gadkari

(e) Nirmala Sitharaman

12) Which state/UT would receive an allocation of Rs. 1404.94 crore for the Widening and Strengthening project of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot stretch of National Highway-701, according to the Union Minister for Road Transport & Highways, Shri Nitin Gadkari?

(a) Ladakh

(b) Goa

(d) Jammu & Kashmir

(e) Maharashtra

13) To promote savings and improve banking accessibility, RBL Bank introduced the GO Savings Account, which has a zero-balance requirement. Up to what percentage of annual interest does the account offer?

(a) 6%

(b) 6.5%

(d) 7.5%

(e) 8%

14) Which Broking Limited created a user-friendly web application that was introduced by Deepak Mohanty, the chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), to make it easier for subscribers to use the National Pension System (NPS)?

(a) Angel One

(b) Zerodha

(d) Upstox

(e) Groww

15) In March 2024, Which General Insurance introduced “Insurance Samjho,” a Gen AI-powered chatbot intended to help clients understand the intricacies of insurance?

(a)Cholamandalam General Insurance

(b) HDFC Ergo General Insurance

(c)Acko General Insurance

(d) Bajaj Allianz General Insurance

(e) Bharti AXA General Insurance

16) Which country is going to get a $3 billion loan from the World Bank after first agreeing to extend the IMF’s lending arrangement, as part of a bigger $20 billion package from multiple international partners?

(a) Russia

(b) Egypt

(d) Tanzania

(e) Tunisia

17) According to recent news (Mar 2024), At the age of 68, Akira Toriyama, the creator of the immensely successful “__________” comic books and anime, passed suddenly.

(a) Volley Ball

(b) Bouncing Ball

(d) Water Ball

(e) Dragon Ball

18) According to recent data, Which country was surpassed by Rohit Sharma’s team to take the top spot in the ICC Test rankings in the most recent rankings issued by the global cricket governing body in Dubai?

(a) Australia

(b) England

(d) South Africa

(e) West Indies

19) Who has won their second French Open Men’s Doubles Badminton title with, Satwiksairaj Rankireddy recently?

(a) Kiran George

(b) Lakshya Sen

(d) HS Pranoy

(e) Kidambi Srikanth

20) How many non-disclosure agreements (NDAs), indicating advanced discussions, has Coal India Limited (CIL), the largest coal-producing corporation in the world, signed with entities in New South Wales (NSW), Australia?

(a) 2

(b) 3

(d) 5

(e) 6

21) The Present Banking Ombudsman scheme was in practice from the year 2006.When was the first Banking Ombudsman Scheme introduced?

(a) 1990

(b) 1992

(d) 1998

(e) 1999

22) The difference between the money generated from selling products to other countries and the money spent on buying goods and services from other countries is known as CAD. What does D represent in CAD?

(a) Difference

(b) Deficit

(d) Debt

(e) Deliver

23) In February 2024, _____________released “The Asia and the Pacific SDG Progress Report 2024”. The report indicates that most countries in Asia are likely to miss the 2030 SDG target, projecting that the region will only fulfil its SDG agenda by ____________.

(a) UNDP, 2050

(b) UNESCAP, 2062

(d) IMF, 2040

(e) UNEP, 2035

24) The 13th Ministerial Conference (MC13) of the World Trade Organization started in Abu Dhabi, UAE.Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE is chairing the conference.Which of the following minister is leading the Indian delegation?

(a) Rajnath Singh

(b) Nitin Gadkari

(d) Piyush Goyal

(e) S Jaishankar

25) Which year’s REIT Regulations were amended by the Securities and Exchange Board of India (SEBI), providing guidelines for the formation of Small and Medium Real Estate Investment Trusts, or SM REITs recently?

(a) 2011

(b) 2012

(d) 2014

(e) 2015

Answers :

1) Answer: A

NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-border UPI transactions between India and Nepal.

Detailed Explanation:

The arrangement will facilitate QR-code-based, person-to-merchant (P2M) UPI transactions between the two countries.

In the first phase, Indian consumers will be able to make instant, secure and convenient UPI payments across various business stores in Nepal to merchants on the Fonepay Network.

Fonepay is a Payment System Operator (PSO) and a subsidiary of the F1Soft Group. It facilitates inter-bank person-to-person (P2P) and person-to-merchant (P2M) transactions through its interoperable network and mobile platforms.

Regulated by Nepal Rastra Bank (NRB), FonePay is Nepal’s first mobile payment network to be licensed as a PSO.

The agreement with Nepal comes a week after NPCI International signed an MoU with Greece-based Eurobank S.A. to streamline cross-border payments between Greece to India using UPI rails.

2) Answer: B

Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post of Chairman and Managing Director (CMD) of NHPC Limited, India’s premier hydropower company and a Schedule ‘A’ Enterprise of the Government of India (GoI).

Detailed Explanation:

About Rajendra Prasad Goyal :

Goyal joined NHPC on 18th November 1988 as a Finance Professional.

He is Chairman of Lanco Teesta Hydro Power Limited (LTHPL), Jal Power Corporation Limited (JPCL), Bundelkhand Saur Urja Limited (BSUL) and NHPC Renewable Energy Limited (NREL) and Nominee Director on the Board of NHDC Limited, Chenab Valley Power Projects Private Limited (CVPPPL), Ratle Hydroelectric Power Corporation Limited (RHPCL) and Loktak Downstream Hydroelectric Corporation Limited (LDHCL) which are Subsidiary Companies of NHPC.

Goyal is also a member of the Executive Board of the Standing Conference of Public Enterprises (SCOPE), New Delhi.

3) Answer: D

Sudha Murty,73, former chairperson of Infosys Foundation and philanthropist, has been nominated to the Rajya Sabha by President Droupadi Murmu, becoming the 12th nominated member in the Upper House of Parliament.

Detailed Explanation:

Constitutional Provision: Article 80(3) of the Constitution stipulates that out of the 245 members in the Rajya Sabha, 12 are nominated by the President based on the government’s recommendation.

Qualifications for Nomination: According to Article 80(3), nominated members should possess special knowledge or practical experience in fields such as literature, science, art, or social service.

Key Highlights :

A nominated member, however, is allowed to join a political party within the first six months of taking a seat.

The 10th Schedule of the Constitution says, “A nominated member of a House shall be disqualified for being a member of the House if he joins any political party after the expiry of six months from the date on which he takes his seat after complying with the requirements of Article 99 or, as the case may be, Article 188.”

The other 11 are three-time BJP Lok Sabha MP from UP Ram Shakal; author and RSS leader Rakesh Sinha; Bharatanatyam exponent Sonal Mansingh; former Chief Justice of India Ranjan Gogoi; senior lawyer and former BJP leader Mahesh Jethmalani; musician Ilaiyaraaja; philanthropist and the hereditary administrator of the Dharmasthala Temple Veerendra Heggade; former athlete and Asian Games gold medallist P T Usha; BJP leader from the Gujjar community in Jammu and Kashmir Ghulam Ali; Telugu screenwriter and film director V Vijayendra Prasad; and Punjab educationist Satnam Singh Sandhu.

About Sudha Murty :

Sudha Murty was born in Shiggaon, Haveri District, North Karnataka.

In 2006, Sudha Murty was awarded the Padma Shri, the fourth-highest civilian award in India.

In 2023, she received the Padma Bhushan, the third-highest civilian award.

Sudha Murthy is also recognized for her novel ‘Dollar Bahu’, which she wrote in Kannada and later translated into English.

The novel was also televised into a dramatic series by Zee TV in 2001. She also wrote the story ‘Runa’, which was adapted into a Marathi film.

4) Answer: D

A school in Thiruvananthapuram, Kerala has unveiled a groundbreaking innovation in education with the introduction of India’s first Generative Artificial Intelligence(AI) teacher robot named ‘Iris’.

Detailed Explanation:

Developed in collaboration with Makerlabs Edutech, Iris aims to transform traditional teaching methods through personalized learning experiences for students.

Iris has been deployed at KTCT Higher Secondary School, Thiruvananthapuram, marking a significant advancement in educational technology within the region.

Built under the Atal Tinkering Lab (ATL) project initiated by NITI Aayog, this AI teacher robot, Iris, boasts a range of features aimed at revolutionizing traditional teaching methods.

The robot can teach subjects from nursery to Class 12.

The robot currently speaks three languages – English, Hindi and

Iris is created by Maker Labs, further demonstrating India’s capacity for innovation in the field of educational technology.

Recent News :

In Aug 2023, India’s first AI school, Santhigiri Vidyabhavan, was launched in Kerala.

About Kerala:

Capital: Thiruvananthapuram

Chief Minister: Pinarayi Vijayan

Governor: Arif Mohammad Khan

National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park

5) Answer: E

In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.

Detailed Explanation:

In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.

Key Highlights :

Auction Blocks: Karnataka offers one block featuring gold, copper, and lithium, while Rajasthan opens bids for three blocks encompassing rare earth elements, rare metals, and potash minerals, signalling a diversification of mineral resources.

Legal Framework Amendment: This significant development follows the amendment of the Mines and Minerals (Development and Regulation) Act, 1957, through the MMDR Amendment Act, 2023, effective from August 17, 2023.

Introduction of Exploration Licence: The MMDR Amendment Act, 2023, introduces a new mineral concession of exploration licence, focusing on 29 critical and deep-seated minerals to bolster exploration and mining activities nationwide.

Pioneer States: Karnataka and Rajasthan emerge as the first states to notify the auction of exploration licences, setting an example for other states to follow.

Anticipated participation from Andhra Pradesh, Chhattisgarh, Madhya Pradesh, and Maharashtra underscores the nationwide significance of this initiative.

About Gujarat :

Capital: Gandhinagar

Chief minister: Bhupendrabhai Patel

Governor: Acharya Devvrat

NP: Gir National Park, Marine National Park, Velavadar National Park

Wildlife Sanctuary : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary

About Rajasthan :

Governor : Kalraj Mishra

Chief Minister : Bhajan Lal Sharma

Capital : Jaipur

National Park : Keoladeo National Park, Ranthambore National Park

Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

6) Answer: E

Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh, announced the establishment of North India’s first Government Homeopathic College in the Jasrota area of Kathua district, Jammu & Kashmir (J&K).

Detailed Explanation:

The project is centrally funded at Rs 80 crore, signifying a significant investment in healthcare and education infrastructure development in the region.

Key Highlights :

Infrastructure: The college will cover an area of over 8 acres, with provisions for further expansion.

It will include a hospital complex, a college, an administrative block, and separate hostels for male and female students.

Healthcare Approach: The institution is being built in alignment with the Modi government’s healthcare approach, which aims to synergize allopathic with Ayush streams of medicine, including Homeopathy, Ayurveda, and naturopathy.

Treatment Options: The college aims to provide cost-effective treatment options to patients and cater to the growing demand for Homeopathy in the region.

About J&K :

Lieutenant Governor: Manoj Sinha

Capital: Srinagar, Jammu

National Park: Dachigam National Park, Kishtwar National Park, Kazinag National Park

7) Answer: A

Uttarakhand Chief Minister Dhami allocates allotment letters for solar energy projects to entrepreneurs and individual beneficiaries under the Mukhyamantri Solar Swarozgar Yojana.

Detailed Explanation:

Uttarakhand Chief Minister Shri Pushkar Singh Dhami inaugurates and lays the foundation stone for 122 schemes across 17 departments, totalling Rs 8275.51 crore, utilizing digital platforms for the ceremony.

Key Highlights :

Scope of Projects:

Inauguration: Projects worth Rs 1,048.15 crore across 11 departments are inaugurated during the event.

Foundation Stones Laid: Additionally, foundation stones are laid for schemes valued at Rs 7,227.36 crore across 15 departments.

Special Schemes:

Prepaid Metre Scheme: The Chief Minister lays the foundation stone for the Energy Department’s prepaid metre scheme, valued at Rs 2027 crore.

Distribution of Tool Kits: Tool kits are distributed to workers registered through the Building and Other Construction Workers Welfare Board, emphasizing support for labor welfare.

In the programme, the Chief Minister was met by Secretary Energy and MD Pitkul Shri P.C.

A dividend cheque of 5 crore was also presented by Dhyani.

Allocation of Solar Energy Projects:

UttarakhandChief Minister Dhami allocates allotment letters for solar energy projects to entrepreneurs and individual beneficiaries under the Mukhyamantri Solar Swarozgar Yojana.

Mussoorie Dehradun Development Authority Projects: Foundation stones for projects worth approximately Rs 226 crore under the Mussoorie Dehradun Development Authority are laid during the event.

Recent Project Initiatives:

In the past two months, foundation stones for schemes worth:

Rs 2215 crore in Tanakpur,

Rs 5868 crore in Haridwar,

Rs 161 crore in Champawat,

Rs 117 crore in Almora,

Rs 828 crore in Pauri Garhwal, and

Rs 456 crore in Rudraprayag have been inaugurated or laid.

This cumulative effort amounts to inaugurating and laying foundation stones for schemes exceeding Rs 18,000 crore within the last two months alone, showcasing significant development initiatives under Chief Minister Dhami’s leadership.

About Uttarakhand :

Governor : Gurmit Singh

Chief Minister : Pushkar Singh Dhami

National Park : Corbett National Park, Rajaji national Park, Nanda Devi National Park

Wildlife Sanctuary : Kedarnath Wildlife Sanctuary

8) Answer: E

The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme is a key initiative by the Government of India aimed at refunding various embedded taxes and duties on exported products.

Since its inception in January 2021, the RoDTEP Scheme has already provided support amounting to ₹42,000 Crores to more than 10,500 export items at the 8-digit ITC HS Code level.

Detailed Explanation:

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi.

The Government of India has announced the extension of the RoDTEP Scheme support to additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones (SEZ) export units.

This decision comes in recognition of the significant contribution these sectors make to India’s Exports, constituting approximately 25% of our exports.

Key Highlights

Since its inception in January 2021, the RoDTEP Scheme has already provided support amounting to ₹42,000 Crores to more than 10,500 export items at the 8-digit ITC HS Code level.

In the current financial year, the scheme has a budget of ₹15,070 Crore with an additional increase of 10% in FY 2024-25.

Keeping budgetary allocation in view, the extension of RODTEP to additional sectors is presently till 30.09.2024.

The extension of the RODTEP scheme to these sectors is aimed at enhancing India’s export competitiveness in international markets.

Key sectors such as Engineering, Textiles, Chemicals, Pharmaceuticals & Food Processing and many others stand to benefit from the measure.

9) Answer: B

India now stands as the world’s second-largest producer of mobile phones at the end of the decade 2014-2024.

Detailed Explanation:

India now stands as the world’s second-largest producer of mobile phones at the end of the decade 2014-2024.

India Cellular and Electronics Association informed that the sector has transitioned from being 78 percent import-dependent in 2014 to 97 percent self-sufficiency.

Only three percent of the total mobile phones sold in India are now imported.

India’s mobile phone production is nearing 20 lakh crore rupees in a decade of unprecedented growth.

India produced 2.45 billion units of mobile phones during these ten years, against a goal of 2.5 billion units.

10) Answer: D

Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway projects spread across the country worth about one lakh crore in Gurugram, Haryana.

Detailed Explanation:

Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway projects spread across the country worth about one lakh crore in Gurugram, Haryana.

The projects inaugurated include the Haryana section of the landmark Dwarka Expressway, three packages of Lucknow Ring Road, the Anandapuram – Pendurthi – Anakapalli section of NH16 in Andhra Pradesh, and the Kiratpur to Nerchowk section of NH-21 in Himachal Pradesh.

Major projects for which the foundation stone was laid include the Bengaluru – Kadappa – Vijayawada Expressway in Andhra Pradesh, six packages of Belgaum – Hungund – Raichur Section of NH-748A in Karnataka, three packages of Shamli – Ambala Highway in Haryana and two packages of Amritsar – Bathinda corridor in Punjab.

11) Answer: D

Union Minister for Road Transport & Highways, Shri Nitin Gadkari Informed, in Tamil Nadu, a substantial allocation of Rs. 1376.10 crore has been approved for the widening of the existing 2-lane Paved Shoulder from Tiruvallur to the Tamil Nadu/Andhra Pradesh border section of National Highway-716.

Detailed Explanation:

This transformation to a 4-lane configuration with paved shoulders in Thiruvallur district spans 43.95 Km under Package-1.

The development aims to establish a fully access-controlled corridor, integral to a significant route connecting the sacred cities of Tiruthani and Tirupathi.

This segment, traversing challenging terrain, has been marred by deficiencies such as sharp S-curves with a radius as low as 110m, contributing to accidents.

The proposed improvements, including an elevated corridor/viaduct on the left-hand side, aim to mitigate accidents on this National Highway-44 stretch, which is a crucial part of the Bengaluru – Kanyakumari section of the North-South corridor in Tamil Nadu.

12) Answer: D

Union Minister for Road Transport & Highways, Shri Nitin Gadkari informed, in Jammu & Kashmir, an allocation of Rs. 1404.94 crore has been approved for the Widening and Strengthening project of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot section of National Highway-701

Detailed Explanation:

It aims to transform the 51 Km route into 2-lanes with Paved, Shoulder.

Critical for logistics in the region, this strategic route connecting Baramulla and Kupwara districts plays a pivotal role and is integral to the development of the tourism sector in North Kashmir near the International Border

An allocation of Rs. 126.58 crore has been approved for the development, Operation, and Maintenance of a Ropeway from SDA Parking (Near Zabarwan Park) to Shankaracharya Temple.

13) Answer: D

RBL Bank unveils the GO Savings Account, featuring a zero-balance requirement, to encourage savings and enhance banking accessibility.The account offers attractive interest rates of up to 7.5% per annum.

Detailed Explanation:

RBL Bank unveils the GO Savings Account, featuring a zero balance requirement, to encourage savings and enhance banking accessibility.

Key Features:

Interest Rates: The account offers attractive interest rates of up to 7.5% per annum.

Premium Debit Card: Users benefit from a premium debit card.

Vouchers: Subscribers receive vouchers worth ₹1,500 for premier brands, enhancing the value proposition.

Insurance Cover: The account includes comprehensive cyber insurance, accident insurance, and travel insurance, providing coverage up to ₹1 crore.

Free CIBIL Report: Users are entitled to a free CIBIL report, facilitating financial awareness.

Premium Banking Services: Additional premium banking services are bundled into the account package.

Subscription Fee Structure:Initial Year: The first-year subscription fee is ₹1,999 + taxes.

Annual Renewal: Subsequent annual renewals have a fee of ₹599 + taxes.

Comprehensive Insurance Coverage:The account offers comprehensive insurance coverage, encompassing cyber, accident, and travel insurance.

Users are advised to thoroughly review coverage details, exclusions, and claim procedures for a clear understanding.

What is a Zero-Balance Account?

A zero-balance account refers to a savings bank account, which has a zero balance in it and yet not charged.

It is legally known as a Basic Savings Bank Deposit (BSBD) account as per the Reserve Bank of India (RBI) guideline.

The facility is provided by banks to encourage more savings among people.

About RBL Bank :

Established : August 1943

Headquarters : Mumbai, Maharashtra, India

MD & CEO : R. Subramania kumar

Tagline : Apno Ka Bank

14) Answer: B

Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Deepak Mohanty has launched a user-friendly web application developed by Zerodha Broking Limited, designed to simplify access to the National Pension System (NPS) for subscribers.

Detailed Explanation:

This new initiative is part of a broader strategy to increase the NPS’s reach and streamline its management.

The application aims to provide a seamless experience for users, allowing them to easily manage their NPS accounts.

PS is available to non-resident Indians (NRIs), making it a versatile option for a wide range of individuals.

By leveraging technology, such as the web application developed by Zerodha Broking Limited, the NPS aims to attract more subscribers, particularly among the tech-savvy younger generation.

About Zerodha Broking Limited :

Founders: Nithin Kamath, Nikhil Kamath

Zerodha Broking Limited is an Indian financial services company.

About PFRDA :

Established : 2003

Headquarters : New Delhi, Delhi

Chairman : Deepak Mohanty

PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.

It operates under the jurisdiction of the Ministry of Finance in the Government of India.

15) Answer: D

Leading private general insurer Bajaj Allianz General Insurance launched “Insurance Samjho”, a Gen AI-powered bot designed to simplify insurance complexities for customers.

Detailed Explanation:

Leading private general insurer Bajaj Allianz General Insurance launched “Insurance Samjho”, a Gen AI-powered bot designed to simplify insurance complexities for customers.

Aim: To address the dissatisfaction of policyholders during claim settlement arising due to lack of understanding, intricate details and fine print of the insurance policy.

About Insurance Samjho :

Functionality: “Insurance Samjho” offers a user-friendly interface with intuitive AI capabilities to break down complex insurance terms into simple, conversational language.

Virtual Assistant: The bot serves as a virtual assistant, allowing customers to ask questions about their coverage, exclusions, procedures, or seek clarity on specific medical conditions.

Similarity to Chat GPT: The bot operates similarly to Chat GPT, where customers can ask questions and seek clarification on various aspects of their policies based on uploaded documents.

The bot provides clear, concise answers in a conversational style, ensuring transparency and easy comprehension.

About bajaj allianz general insurance :

Founded : 2000

Headquarters : Pune, Maharashtra

MD & CEO : Tapan Singhel

16) Answer: B

Egypt is set to receive a $3 billion loan from the World Bank following an initial agreement with the International Monetary Fund (IMF) to expand the IMF’s loan arrangement, part of a larger $20 billion package from various international partners.

Detailed Explanation:

Key Highlights :

Composition of $20 Billion Package:The $20 billion package includes approximately $11 billion from international partners such as the World Bank, European Union, Japan, and the United Kingdom (UK).

Additionally, it incorporates the $8 billion IMF package agreed upon last week.

Climate Finance Allocation Discussions:Ongoing discussions involve allocating $1 to 1.2 billion for climate finance through the IMF’s Resilience and Sustainability Facility.

IMF Staff-Level Agreement:The IMF announced a staff-level agreement with Egypt to expand the loan arrangement under the Extended Fund Facility (EFF) from $3 billion to $8 billion in support of Egypt’s economic reforms.

Approval by the IMF Executive Board is anticipated before the end of March.

Reasons for IMF Agreement:Egypt’s central bank recently floated its local currency and raised interest rates by 6 percent to stabilize the currency exchange market and address high inflation.

According to a report released by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS), Urban inflation reached 35.7 percent in February, compared to 29.8 percent in January, prompting measures to stabilize prices and address foreign currency shortages for imports.

About World Bank :

Established : July 7, 1944

Headquarters : Washington, D.C., United States

President : Ajay Banga

About IMF :

Headquarters : Washington, D.C., United States

Managing Director : Kristalina Georgieva

Membership : 190 countries (189 UN countries and Kosovo)

About Egypt :

President : Abdel Fattah el-Sisi

Prime Minister : Moustafa Madbouly

Capital : Cairo

Currency : Egyptian pound

17) Answer: E

Akira Toriyama, the creator of the widely popular “Dragon Ball” comics and anime, has passed away at the age of 68.

Detailed Explanation:

Akira Toriyama, the creator of the widely popular “Dragon Ball” comics and anime, has passed away at the age of 68.

About Akira Toriyama :

Akira Toriyama, born on April 5, 1955, was a renowned Japanese manga artist and character designer.

He gained recognition with his manga series “Dr Slump”.

Even though “Dragon Ball” is what Akira Toriyama is best known for, he is also famous for “Sand Land”, “Dragon Quest”, and “Chrono Trigger”, appealing to fans of manga, anime, and video games alike.

He earned the 1981 Shogakukan Manga Award for best shonen manga with “Dr Slump”, which sold over 35 million copies in Japan and led to a successful anime adaptation, followed by a second anime created in 1997.

18) Answer: A

India crushed England in Dharamsala to win the five-match series 4-1, Rohit Sharma’s side claimed the top spot in the ICC Test rankings, overtaking Australia in the latest rankings released by the world governing body for Cricket in Dubai.

Detailed Explanation:

India, who are already heading the World Test Championship standings, are now at the summit of the ICC rankings in all three formats of the game.

Rohit’s side will remain at the top of the chart, irrespective of the result of the second Test between New Zealand and Australia currently underway in Christchurch.

19) Answer: C

Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open Men’s doubles Badminton title.

Detailed Explanation:

Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open Men’s doubles Badminton title.

The Indian top seed registered a straight games victory over Yang Po-han and Lee Jhe-huei of Taiwan in the final 21-11, 21-17.

Satwik and Chirag had earlier won the title in 2022.

20) Answer: A

Coal India Limited (CIL), the world’s largest coal-producing company, has inked two Non-Disclosure Agreements (NDAs) with entities in New South Wales (NSW), Australia, indicating advanced discussions.

Detailed Explanation:

Additionally, CIL is exploring mining opportunities for critical minerals on a global scale, with Argentina among the key countries under consideration.

The initiative aligns with India’s goals set at COP28, emphasizing the reduction of carbon emissions through the adoption of clean energy.

Critical minerals, as defined by the Ministry of mines, are vital for economic development and national security, finding extensive use in the energy, communications, space, and nuclear sectors.

On February 29, the government launched the second tranche of critical minerals auctions, including 18 minerals such as nickel, cobalt, and potash.

About CIL

Coal India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Coal, Government of India.

It is headquartered at Kolkata.

CEO: Pramod Agrawal

21) Answer: C

The Banking Ombudsman Scheme was first introduced in 1995. The current

scheme became operative from 1st January 2006.

Detailed Explanation:

The Banking Ombudsman Scheme is introduced under Section 35 A of the BankingRegulation Act, 1949 by RBI.

The Banking Ombudsman Scheme was first introduced in 1995. The currentscheme became operative from 1st January 2006.

The Banking Ombudsman is a senior official appointed by the Reserve Bank ofIndia to resolve customer complaints about deficiencies in specific bankingservices that fall under Clause 8 of the Banking Ombudsman Scheme 2006.

Institutions covered under the Banking Ombudsman scheme are All commercialbanks (scheduled and non-scheduled, public and private), regional rural banks,scheduled primary cooperative banks, Non- Banking Finance Companies.

The Banking Ombudsman will be appointed for not more than three years, withthe possibility of a two-year extension subject to an overall age restriction of 65years.

22) Answer: B

The difference between the money generated from selling products to othercountries and the money spent on buying goods and servicesfrom othercountries is known as the current account deficit (CAD).

23) Answer: B

The UNESCAP (United Nations Economic and Social Commission for Asia and the Pacific) recently released “The Asia and the Pacific SDG Progress Report 2024″.
The report indicates that most countries in Asia are likely to miss the 2030 SDG target, projecting that the region will only fulfill its SDG agenda by 2062, despite the overall average progress towards achieving all 17 SDGs increasing from 4% in 2017 to 17% in 2023.

Detailed Explanation:

The UNESCAP (United Nations Economic and Social Commission for Asia and the Pacific) recently released “The Asia and the Pacific SDG Progress Report 2024″.
It is an annual publication highlighting progress on the 17 SDGs and their 169 targets in the Asia-Pacific region, examining various dimensions such as sex, urbanization, education, age, and income.
Less than 70% of 169 targets are currently measurable. Out of these, only 11% are on track to be achieved by 2030 in the region. Statistical systems of the region must produce data on 53 targets that still cannot be measured.
The report indicates that most countries in Asia are likely to miss the 2030 SDG target, projecting that the region will only fulfill its SDG agenda by 2062, despite the overall average progress towards achieving all 17 SDGs increasing from 4% in 2017 to 17% in 2023.
In 2023, the areas of greatest progress for Asia-Pacific were no poverty (Goal 1) and industry, innovation and infrastructure (Goal 9). Integrating robust climate action measures into national policies, strategies, and plans is of paramount importance, notably due to the ongoing regression of Goal 13.
Gender equality (Goal 5) and peace, justice and strong institutions (Goal 16) continue to have the least available data. Conversely, goals such as good health and well-being (Goal 3), affordable and clean energy (Goal 7) and life on land (Goal 15) registered SDG data availability of 70 per cent or more.
Specifically, the region has experienced a negative trend in Climate Action (Goal 13) compared to 2015.
In contrast, India has shown improvement in 85 of the SDG parameters, with stable progress in 27 and a decline in 36.
UNESCAP is a regional hub of one of the 4 UN’s principal organ “Economic and Social Council”, to promote cooperation among countries to achieve inclusive and sustainable development in Asia and the Pacific.

24) Answer: D

On 26 February, the 13th Ministerial Conference (MC13) of the World Trade Organization started in Abu Dhabi, UAE.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE is chairing the conference.
Commerce and Industry Minister Piyush Goyal is leading the Indian delegation.

Detailed Explanation:

On 26 February, the 13th Ministerial Conference (MC13) of the World Trade Organization started in Abu Dhabi, UAE.
This four-day high-level meeting will bring together the world’s trade ministers to evaluate the functioning of the multilateral trading system and chart the future of the WTO.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE is chairing the conference.
Commerce and Industry Minister Piyush Goyal is leading the Indian delegation.
Trade ministers from the 164 member countries of the WTO are meeting against the backdrop of an uncertain global economic situation due to the Red Sea crisis, the Ukraine-Russia war, and the Israel-Hamas conflict.
Ahead of the meeting, the G-33, a coalition of developing countries, of which India is a key member, urged the WTO to take forward agricultural trade talks at the 13th WTO Ministerial Conference.
They will discuss the lack of progress, particularly regarding food security challenges faced by developing nations.
The group stressed the urgency of action, citing the Food and Agriculture Organization’s estimate of some 600 million people facing long-term hunger by 2030.
The 13th WTO Ministerial Conference presents an important opportunity for WTO Members to address critical issues in the global trading system, particularly agricultural trade and food security.
In 1996, the First ministerial conference was held in
WTO is the only global international organization dealing with the rules of trade between nations.

It was created by Uruguay Round negotiations (1986-94) and is headquartered in Geneva.

25) Answer: D

The Securities and Exchange Board of India (SEBI) has issued regulations to amend the REIT Regulations 2014, establishing guidelines for the creation of Small and Medium Real Estate Investment Trusts, or SM REITs.

Detailed Explanation:

Aim :To regulate the fractional ownership industry and safeguard investor interests, incorporating both commercial and residential properties within the new framework.

Key Highlights :

Fundraising Threshold : Under the new framework, SM REITs can raise funds starting from ₹50 crore by issuing units to a minimum of 200 investors.

Utilization of Funds : The funds will be utilised for acquiring and managing real estate assets and generating income for investors.

Ownership Structure : Ownership of these assets will be structured through schemes operating under special purpose vehicles (SPVs), with a net worth requirement of ₹20 crore for the investment manager.

The SEBI (REIT) (Amendment) Regulations, 2024 stipulate that an SM REIT’s listing process will resemble an IPO, but with a key difference in asset completion requirements.

Asset Development Requirement: At least 95% of the assets for SM REIT schemes must be fully developed and generating revenue, compared to the 80% requirement for larger REITs.

Minimum Subscription Amount: The minimum subscription amount for an SM REIT’s initial offering is ₹10 lakh per investor, offering a more accessible entry point compared to the current norm.

Investment Manager’s Retention: The investment manager is mandated to retain a minimum of 5% of outstanding units for two years post-listing, a reduction from the initially proposed 15%.

Leverage and Co-Investment Requirement: SM REITs utilizing leverage must ensure a 15% co-investment by the manager, with leverage capped at 49% of the REIT’s assets.

Approval Date: These amendments, approved by SEBI on 25 November 2023, aim to foster the growth of SM REITs, providing a boost to fractional ownership in India.

Fractional Ownership Platforms: Fractional ownership platforms, estimated to manage over ₹4,000 crore in assets, allow individual investors to co-own properties as an alternative investment, with investments typically directed towards pre-leased assets ensuring monthly rental returns.

About SEBI :

Established: 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992

Headquarters: Mumbai, Maharashtra

Chairman: Madhabi Puri Buch

SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, GoI.

Daily Current Affairs Quiz – 12th March 2024

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