Daily Current Affairs Quiz – 28th & 29th April 2024

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2024 of 28th & 29th 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.

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1) What percentage increase in profit was unanticipated for India’s SBI Cards and Payment Services in the fourth quarter, as stable retail spending countered an increase in bad loans?

(a) 10%

(b) 11%

(d) 15%

(e) 17%

2) The Nifty Alpha Low Volatility 30 Index Fund, a multi-factor index fund, has been introduced by Edelweiss Mutual Fund. How many top-listed stocks will make up the pool from which the thirty stocks will be chosen?

(a) 100

(b) 50

(d) 250

(e) 200

3) For fiscal year 2025, the Reserve Bank of India will keep the foreign portfolio investors’ investment cap in government securities at 6% of outstanding stocks.What percentage is the corporate bond limit?

(a) 2%

(b) 11%

(d) 10%

(e) 8%

4) Which ministry collaborates with telecom operators and SBI Cards to combat password fraud?

(a) Ministry of Information & Broadcasting

(b) Ministry of Home Affairs

(d) Ministry of Education

(e) Ministry of Commerce

5) In February 2024, the Reserve Bank of India made a record net purchase of $8.5 billion in the forex market, which happened in how many months?

(a) 30months

(b) 32months

(d) 36months

(e) 38months

6) Groww Mutual Fund’s launch of the Nifty Non-Cyclical Consumer Index Fund through a new fund offering has been approved by the Securities and Exchange Board of India. How many rupees will be the minimal amount that can be invested?

(a) Rs.100

(b) Rs.500

(d) Rs.5000

(e) Rs.2000

7) How many KYC registration agencies (KRAs) are there to streamline the Know Your Customer (KYC) procedure for investors in light of new regulations that went into effect on April 1, 2024?

(a) 4

(b) 5

(d) 7

(e) 3

8) New Rupay Credit Card and ATM Insurance Products Are Available From AU Small Finance Bank. Among the newest credit cards available are the AU SPONT Rupay Credit Card and the Secured Credit Card, which is known as?

(a) NOMO

(b) POMO

(d) LOMO

(e) SOMO

9) In 2024, NTPC Kanti, the organization’s flagship station, launched Girl Empowerment Mission.How many girls, representing eight schools, are taking part in the Girl Empowerment Campaign from different villages in Kanti Block?

(a) 24

(b) 32

(d) 48

(e) 56

10) The gem and jewelry sector was granted AEO status by the Customs Department as a pilot project in which year, as part of a broader framework for ease of doing business?

(a) 2010

(b) 2011

(d) 2015

(e) 2017

11) India’s state businesses boosted their share of oil and gas output from abroad fields to 19.9 MMTOE in 2023-24, up from 19.5 MMTOE the previous year. What is the second “M” in MMTOE?

(a) Metric

(b) Machine

(d) Million

(e) Measure

12) In an effort to control prices, the center may give sugar mills a greater sales quota in May. How many mills are still grinding sugarcane in Maharashtra, perhaps 15 in Uttar Pradesh, and a few in Tamil Nadu?

(a) 4

(b) 5

(d) 7

(e) 8

13) As businesses look to diversify their funding sources, the number of commercial papers (CP) issued has reached a four-year high, surpassing how much lakh crore? This level was last seen between July and September of 2019.

(a) 1.2 lakh crore

(b) 1.3 lakh crore

(d) 1.5 lakh crore

(e) 1.1 lakh crore

14) According to a company filing with the stock exchanges, the government accorded its ‘navratna’ status through the Indian Renewable Energy Development Agency (IREDA). What is the total number of Navratna PSEs after this?

(a) 14

(b) 15

(d) 18

(e) 17

15) IRS Officer Sunil Kumar Yadav Appointed Director at the Ministry of Housing and Urban Affairs. Who is the current Union Minister for Housing and Urban Affairs?

(a) Narendra Singh Tomar

(b) Piyush Goyal

(d) Giriraj Singh

(e) Hardeep Singh Puri

16) Sarvadanand Barnwal, an officer with the Indian Statistical Service (ISS), has been appointed Director of which Department?

(a) Textile

(b) Finance

(d) Chemicals

(e) Fertilizer

17) InterGlobe Enterprises, led by Rahul Bhatia, has partnered with Assago, founded by tech veteran C P Gurnani, to launch AIonONS. Where is the AlonONS headquarters?

(a) Australia

(b) Singapore

(d) Germany

(e) France

18) In which state does SJVN work with THDC India Limited to establish a High-Performance Water Sports Academy?

(a) Uttar Pradesh

(b) Uttarakhand

(d) Jharkhand

(e) West Bengal

19) In which year was it declared by the International Labor Organization to be World Day for Safety and Health at Work on April 28?

(a) 2002

(b) 2001

(d) 2004

(e) 2005

20) International Dance Day, often called World Dance Day, is observed on April 29 every year. In which year marked the celebration of the inaugural International Day of Dancing?

(a) 1981

(b) 1982

(d) 1984

(e) 1985

Answers :

1) Answer: B

India’s SBI Cards and Payment Services reported an unexpected 11% rise in fourth-quarter profit, driven by steady retail spending that offset an increase in bad loans.
The company’s profit after tax reached 62 billion rupees ($79.4 million) for the January-March period, up from 5.96 billion rupees a year earlier.
This exceeded analysts’ expectations, which were around 61 billion rupees, as per LSEG data.
Credit Demand and Retail Spending:Credit demand, especially in unsecured categories like credit cards, remained robust, fueled by retail consumer spending.

Detailed Explanation:

India’s SBI Cards and Payment Services reported an unexpected 11% rise in fourth-quarter profit, driven by steady retail spending that offset an increase in bad loans.
The company’s profit after tax reached 62 billion rupees ($79.4 million) for the January-March period, up from 5.96 billion rupees a year earlier.
This exceeded analysts’ expectations, which were around 61 billion rupees, as per LSEG data.
Credit Demand and Retail Spending:Credit demand, especially in unsecured categories like credit cards, remained robust, fueled by retail consumer spending.
This growth in spending contributed to the rise in the company’s profit.
Cardholder Spending and Interest Income: Total cardholder spending, or the aggregate transacted amount, grew by 11% year-on-year to 796.53 billion rupees during the quarter.
This led to a 28% increase in interest income, which rose to 21.39 billion rupees.
Gross Write-offs and Bad Loans:The company’s gross write-offs rose by 60% to 8.64 billion rupees, reflecting a higher level of bad loans and credit losses.
Gross bad loans as a percentage of gross advances increased to76% at the end of March, compared to 2.64% at the end of December, indicating a deterioration in asset quality.
Net Interest Margin (NIM): The net interest margin, a key measure of profitability, fell by 60 basis points year-on-year to 10.9%, suggesting increased pressure on margins due to a combination of higher write-offs and bad loans.
Stock Performance: Shares of the company ended 1% lower ahead of the results.

2) Answer: C

Edelweiss Mutual Fund has launched the Nifty Alpha Low Volatility 30 Index Fund, a multi-factor index fund.
It will consist of 30 stocks selected from a pool of the top 150 listed stocks.
These stocks have recently outperformed the broader market yet are relatively less volatile.
The New Fund Offer (NFO) of the scheme will be from April 26 to May 10, 2024.
Investment Strategy and Benchmark: The scheme will invest 95-100% in equity and equity-related securities representing the Nifty Alpha Low Volatility 30 Index.
Its scheme will be benchmarked against Nifty Alpha Low Volatility 30-TRI and will be managed by Bhavesh Jain.

Detailed Explanation:

Edelweiss Mutual Fund has launched the Nifty Alpha Low Volatility 30 Index Fund, a multi-factor index fund.
It will consist of 30 stocks selected from a pool of the top 150 listed stocks.
These stocks have recently outperformed the broader market yet are relatively less volatile.
The New Fund Offer (NFO) of the scheme will be from April 26 to May 10, 2024.
Investment Strategy and Benchmark: The scheme will invest 95-100% in equity and equity-related securities representing the Nifty Alpha Low Volatility 30 Index.
Its scheme will be benchmarked against Nifty Alpha Low Volatility 30-TRI and will be managed by Bhavesh Jain.
Scheme Variants and Options: The scheme will offer regular and direct plans with growth and Income Distribution cum Capital Withdrawal (IDCW) options.
Systematic Investment Plan (SIP) Details: The minimum investment amount for daily, weekly, fortnightly, monthly, and quarterly SIP will be Rs 100 and in multiples of Rs 1 thereafter.
Index Methodology and Rebalancing: The index methodology will be factor-weighted and rebalanced semi-annually in June and December, respectively.
Additional Allocation: The fund will allocate 0-5% to debt and money market instruments, in a bid to ensure a balanced approach to wealth accumulation.
Investors looking for long-term capital appreciation and want passive investment in equity and equity-related securities replicating the composition of the Nifty Alpha Low Volatility 30 Index can go for this fund.
The principal invested in the scheme will be at “very high” risk according to the riskometer of the scheme.
NFO refers to a new mutual fund scheme for the public in the financial markets with an aim of first-time subscription.
In other words, a new mutual fund scheme based on a new investment strategy is offered to investors for a limited period.
Asset management companies (AMCs) offer NFOs as new mutual fund products that are not previously present as part of the product basket.
NFOs are offered for both close-ended and open-ended mutual fund schemes.

3) Answer: C

The Reserve Bank of India (RBI) announced that the investment limits for Foreign Portfolio Investors (FPIs) in government securities, state development loans (SDLs), and corporate bonds will remain unchanged for FY25.
Investment Limits for Various Securities:
The limit for FPI investment in government securities (G-secs) is 6% of the outstanding stocks of securities.
The limit for state development loans is 2%.
The limit for corporate bonds is 15%.

Detailed Explanation:

The Reserve Bank of India (RBI) announced that the investment limits for Foreign Portfolio Investors (FPIs) in government securities, state development loans (SDLs), and corporate bonds will remain unchanged for FY25.
Investment Limits for Various Securities:
The limit for FPI investment in government securities (G-secs) is 6% of the outstanding stocks of securities.
The limit for state development loans is 2%.
The limit for corporate bonds is 15%.
Fully Accessible Route (FAR):As of now, all investments by eligible investors in the ‘specified securities’ will be reckoned under the fully accessible route (FAR).
Allocation between General and Long-term Sub-categories:The distribution of incremental changes in the G-secs limit, in absolute terms, will remain at 50:50 between the two sub-categories ‘General’ and ‘Long-term’ for 2024-25.
State Development Loans (SDLs) Allocation:The entire increase in limits for SDLs, in absolute terms, has been allocated to the general sub-category of state development loans.
Credit Default Swaps (CDS) Limit:The aggregate limit of the notional amount of CDS sold by FPIs will be 5% of the outstanding stock of corporate bonds.
An additional limit of Rs 2,54,500 crore has been set for CDS in 2024-25, reflecting the increasing scope for FPIs to engage in credit risk management through swaps.

4) Answer: B

India’s Ministry of Home Affairs, SBI Cards and Payment Services Limited (SBI Card), and telecom operators have joined forces to develop an innovative solution to combat OTP (One-Time Password) frauds, cybercrime, and phishing attacks targeting the banking ecosystem.
Cybercrime’s Impact:According to the Indian Cyber Crime Coordination Centre (i4C), cybercriminals siphoned off Rs 10,319 crore between April 2021 and December 2023.
Most crimes originated from China, Cambodia, and Myanmar, involving non-state actors.
Citizen Financial Cyber Fraud Reporting and Management System:Under the i4C framework, the government established the ‘Citizen Financial Cyber Fraud Reporting and Management System,‘ which successfully prevented around Rs 1,200 crore in fraudulent transfers from over 470,000 citizen complaints received by February 2024.

Detailed Explanation:

India’s Ministry of Home Affairs, SBI Cards and Payment Services Limited (SBI Card), and telecom operators have joined forces to develop an innovative solution to combat OTP (One-Time Password) frauds, cybercrime, and phishing attacks targeting the banking ecosystem.
The government is testing a solution that allows banks to track the registered address and geolocation of a customer to monitor where an OTP is delivered, providing a way to detect potential fraud.
RBI’s Additional Factor of Authentication: The Reserve Bank of India (RBI) has mandated an additional factor of authentication for digital payment transactions to combat fraud, with the two-factor authentication system being a key security measure.
Cybercrime’s Impact:According to the Indian Cyber Crime Coordination Centre (i4C), cybercriminals siphoned off Rs 10,319 crore between April 2021 and December 2023.
Most crimes originated from China, Cambodia, and Myanmar, involving non-state actors.
Citizen Financial Cyber Fraud Reporting and Management System:Under the i4C framework, the government established the ‘Citizen Financial Cyber Fraud Reporting and Management System,‘ which successfully prevented around Rs 1,200 crore in fraudulent transfers from over 470,000 citizen complaints received by February 2024.
Statistics on Cyber Fraud in 2023:In the calendar year 2023, the registry received12 million complaints, with fraudulent transfers totaling Rs 7,488 crore, indicating the scale of the issue.

5) Answer: B

The Reserve Bank of India (RBI) bought $8.5 billion on a net basis in the foreign exchange market in February2024 marking the highest net purchase by the central bank in 32 months.
In January, the RBI made a smaller net purchase of $1.9 billion in the spot market.
This indicates a significant increase in buying activity in February.
No Dollar Sales in February: According to the central bank’s April 2023 Bulletin, the RBI did not sell US dollars in the currency market during February.

Detailed Explanation:

The Reserve Bank of India (RBI) bought $8.5 billion on a net basis in the foreign exchange market in February2024 marking the highest net purchase by the central bank in 32 months.
In January, the RBI made a smaller net purchase of $1.9 billion in the spot market.
This indicates a significant increase in buying activity in February.
No Dollar Sales in February: According to the central bank’s April 2023 Bulletin, the RBI did not sell US dollars in the currency market during February.
This contributed to the high net purchase figure.
Comparison with Previous Records: The net purchase of $8.5 billion in February is the highest since June 2021, when the RBI had net bought $18.6 billion in the foreign exchange market.
All-Time High Foreign Exchange Reserves: The RBI’s headline foreign exchange reserves reached a record high of $648.56 billion as of April 5, demonstrating the central bank’s growing reserve position.
The RBI’s net outstanding forward purchase stood at $9.69 billion as of the end of February, compared with a net purchase of $9.97 billion at the end of the previous month, the data showed.

6) Answer: B

Groww Mutual Fund has received the Securities and Exchange Board of India’s (SEBI’s) approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO).
The NFO is expected to go live in the first week of May.
The fund will be India’s first non-cyclical index fund.
Groww Nifty Non-Cyclical Consumer Index Fund will be an open‐ended scheme tracking Nifty Non-Cyclical Consumer Index – TRI.
The scheme will be managed by Abhishek Jain.
The minimum investment amount will be Rs 500 and in multiples of Re 1 for purchases and of Re 0.01 for switches.
For SIP, the minimum amount is Rs 1,200 (subject to a minimum of 12 SIP installments of Rs 100 each for monthly installments and Rs 300 for quarterly installments).
The minimum redemption amount for all plans will be Rs 500 and in multiples of Re 1.

Detailed Explanation:

Groww Mutual Fund has received the Securities and Exchange Board of India’s (SEBI’s) approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO).
The NFO is expected to go live in the first week of May.
The fund will be India’s first non-cyclical index fund.
In this instance, the fund is benchmarked against the Nifty Non-Cyclical Consumer Index (Total Return Index).
This tracks the performance of the top 30 stocks under sectors such as consumer goods and services, telecom and more.
Aim of the fund: To generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion to offer returns.
It is structured to allocate between 95-100% of its assets in equities and equity-related securities of companies directly involved in or anticipated to gain from consumption and consumption-related endeavours.
Additionally, it may invest 0-5% in debt and money market instruments, as well as units of debt schemes or debt ETFs.
Groww Nifty Non-Cyclical Consumer Index Fund will be an open‐ended scheme tracking Nifty Non-Cyclical Consumer Index – TRI.
The scheme will be managed by Abhishek Jain.
The minimum investment amount will be Rs 500 and in multiples of Re 1 for purchases and of Re 0.01 for switches.
For SIP, the minimum amount is Rs 1,200 (subject to a minimum of 12 SIP installments of Rs 100 each for monthly installments and Rs 300 for quarterly installments).
The minimum redemption amount for all plans will be Rs 500 and in multiples of Re 1.
The principal amount invested in the scheme carries a “very high” risk classification according to the scheme’s riskometer.

7) Answer: B

In a bid to ease the Know Your Customer (KYC) process for investors due to new guidelines that came into effect on April 1, 2024 the 5 KYC registration agencies (KRAs) – CDSL Ventures (CVL), NSDL Database Management (NDML), CAMS, Karvy, and Dotexhave come with guidelines to simplify the process.
Scope of KYC Records:The KRAs collectively hold the KYC records of 3 million investors, playing a pivotal role in maintaining these records.
Status of KYC Records:Out of the total KYC records:
73% are in the ‘KYC Validated’ status, indicating no further action is required for transacting in the securities market.
15% are in the ‘KYC Registered’ status, allowing existing systematic investment plans (SIPs) with mutual funds to continue.
12% are in the ‘KYC On-Hold’ status, requiring additional steps for compliance.

Detailed Explanation:

In a bid to ease the Know Your Customer (KYC) process for investors due to new guidelines that came into effect on April 1, 2024 the 5 KYC registration agencies (KRAs) – CDSL Ventures (CVL), NSDL Database Management (NDML), CAMS, Karvy, and Dotexhave come with guidelines to simplify the process.
Scope of KYC Records:The KRAs collectively hold the KYC records of 3 million investors, playing a pivotal role in maintaining these records.
Status of KYC Records:Out of the total KYC records:
73% are in the ‘KYC Validated’ status, indicating no further action is required for transacting in the securities market.
15% are in the ‘KYC Registered’ status, allowing existing systematic investment plans (SIPs) with mutual funds to continue.
12% are in the ‘KYC On-Hold’ status, requiring additional steps for compliance.
Implications of ‘KYC Validated’ Status:For investors whose status is ‘KYC Validated’, no action is required and they can transact in the securities market without resubmission of KYC documents.
Guidance for ‘KYC Registered’ Status: Investors whose status is ‘KYC Registered’ can continue with their existing systematic investment plans (SIPs) already registered with mutual funds.
If such investors wish to open a new account or a new folio with a new fund house or Sebi-registered intermediary, a fresh set of KYC documents needs to be collected afresh to onboard the investor.
Requirements for ‘KYC On-Hold’ Status: If the KYC status is ‘On Hold’ then the investor has to compete ‘PAN-Aadhaar Seeding’ in income tax records to make the PAN operational.
KRA is an agency registered with SEBI under the Securities and Exchange Board of India [KYC (Know Your Client) Registration Agency] Regulations, 2011.
The KRA will maintain KYC records of the investors centrally, on behalf of capital market intermediaries registered with SEBI.

8) Answer: A

AU Small Finance Bank (AU SFB) has introduced a range of new products, aiming to enhance fee income through innovative credit cards and ATM insurance.
New Credit Cards:Two new credit cards are among the latest offerings: the AU SPONT Rupay Credit Card and the Secured Credit Card – NOMO (No Missing Out).
The AU SPONT Rupay Credit Card is developed in collaboration with NPCI, while the Secured Credit Card – NOMO is developed with

Detailed Explanation:

AU Small Finance Bank (AU SFB) has introduced a range of new products, aiming to enhance fee income through innovative credit cards and ATM insurance.
New Credit Cards:Two new credit cards are among the latest offerings: the AU SPONT Rupay Credit Card and the Secured Credit Card – NOMO (No Missing Out).
The AU SPONT Rupay Credit Card is developed in collaboration with NPCI, while the Secured Credit Card – NOMO is developed with
Introduction of Secured Credit Cards:The NOMO (No Missing Out) Credit Card is AU SFB’s first secured credit card, which is backed by a Fixed Deposit (FD).
This marks the bank’s entry into the realm of secured credit cards.
Enhanced Digital Solutions for Businesses and Customers:AU SFB has launched the AU 0101 Business App, designed to offer customized solutions for proprietorships and Micro, Small, and Medium Enterprises (MSMEs).
The AU 0101 Version 2.0 is the bank’s upgraded mobile banking app, offering customers an enhanced user experience and additional features.
The insurance journey on ATM is the industry-first innovation, hence, AU SFB has gone ahead and patented this process before launching its first ATM insurance in March 2024.

9) Answer: C

NTPC Kanti was among the first stations to start the GEM program pan NTPC.
The GEM (Girl Empowerment Mission) program aims to empower girls by providing them with the education and skills necessary for their holistic development.
NTPC Kanti inaugurated the Girl Empowerment Campaign
This workshop, themed “Empowered Girls, Empowered Kanti”, will run from April 25 to May 20, providing free education to students in subjects such as Mathematics, Computer, English, Hindi, etc.
A total of 40 girls from various villages of Kanti Block are participating in the Girl Empowerment Campaign, representing 8

Detailed Explanation:

NTPC Kanti was among the first stations to start the GEM program pan NTPC.
The GEM (Girl Empowerment Mission) program aims to empower girls by providing them with the education and skills necessary for their holistic development.
NTPC Kanti inaugurated the Girl Empowerment Campaign
The program was inaugurated by Mr. Manoj Sinha, General Manager (Contracts and Materials & Technical Services).
A total of 40 girls from various villages of Kanti Block are participating in the Girl Empowerment Campaign, representing 8 schools.
This workshop, themed “Empowered Girls, Empowered Kanti”, will run from April 25 to May 20, providing free education to students in subjects such as Mathematics, Computer, English, Hindi, etc.
Additionally, all participants will also receive nutritious meals.
Extracurricular activities such as yoga, dance, music, painting, etc., will be provided for the holistic development of girls.

10) Answer: B

The Centre has extended Authorised Economic Operator (AEO) status to the gem and jewellery sector, the Gem &Jewellery Export Promotion Council (GJEPC), the apex body of the sector.
The AEO program was introduced as a pilot project in 2011 by the Customs Department as part of a broader framework for ease of doing business, which has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters.
The AEO is a program under the World Customs Organisation (WCO) SAFE Framework of Standards to secure and facilitate global trade.

Detailed Explanation:

The Centre has extended Authorised Economic Operator (AEO) status to the gem and jewellery sector, the Gem &Jewellery Export Promotion Council (GJEPC), the apex body of the sector.
The AEO program was introduced as a pilot project in 2011 by the Customs Department as part of a broader framework for ease of doing business, which has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters.
The AEO is a program under the World Customs Organisation (WCO) SAFE Framework of Standards to secure and facilitate global trade.
The aim is to enhance international supply chain security and facilitate the movement of legitimate goods.
Under this program, an entity engaged in international trade is approved by Customs as compliant with supply chain security standards and granted AEO status and certain benefits.

11) Answer: A

India’s state-run firms’ output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years.
The share of India’s state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year.

Detailed Explanation:

India’s state-run firms’ output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years.
The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years.
The share of India’s state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year.
Production at Russia’s Skahalin-1 project normalized during the financial year, after being badly affected in 2022 following the launch of the Russia-Ukraine war.
ONGC Videsh, India’s largest investor in overseas oil and gas fields, has a stake in Sakhalin-1, where production had nearly halted for some time following the exit of its operator Exxon.

12) Answer: D

The Centre aims to allocate sugar mills a higher sales quota for May, which will cumulatively be 100,000-200,000 tonnes more than that in the same month a year ago, to tame prices of the sweetener
Ex-mill sugar (small and medium-sized grade) prices in Uttar Pradesh, Maharashtra and Karnataka rose 2.6%-4.9%, depending on region and variety, to ₹3,540-3,930 a quintal in the past 30 days,
Only seven mills in Maharashtra, about 15 in Uttar Pradesh and some in Tamil Nadu are still crushing sugarcane.

Detailed Explanation:

The Centre aims to allocate sugar mills a higher sales quota for May, which will cumulatively be 100,000-200,000 tonnes more than that in the same month a year ago, to tame prices of the sweetener
The government fears that rising prices at the mill level may lead to a spike in retail prices if not curbed immediately by releasing higher stocks of sugar.
Ex-mill sugar (small and medium-sized grade) prices in Uttar Pradesh, Maharashtra and Karnataka rose 2.6%-4.9%, depending on region and variety, to ₹3,540-3,930 a quintal in the past 30 days,
The price rise is attributed to the crushing season drawing to a close.
Only seven mills in Maharashtra, about 15 in Uttar Pradesh and some in Tamil Nadu are still crushing sugarcan
Crushing of sugarcane typically closes by the end of April.

13) Answer: A

Issuances of commercial papers (CP) have hit a four-year high, touching Rs 1.2 lakh crore, a level seen last in July-Sept 2019, as companies seek to diversify funding sources.
Higher CP issuances follow RBI’s November mandate to increase risk weights on bank loans given to higher rated NBFCs, a Crisil report.CP issuances are still not as high as 2018 levels when they touched Rs 3.1 lakh crore in July-September, as NBFCs look for other funding avenues like securitization, where volumes peaked in FY24 at Rs 1.9 lakh crore.

Detailed Explanation:

Issuances of commercial papers (CP) have hit a four-year high, touching Rs 1.2 lakh crore, a level seen last in July-Sept 2019, as companies seek to diversify funding sources.
Higher CP issuances follow RBI’s November mandate to increase risk weights on bank loans given to higher rated NBFCs, a Crisil report.
CP issuances are still not as high as 2018 levels when they touched Rs 3.1 lakh crore in July-September, as NBFCs look for other funding avenues like securitization, where volumes peaked in FY24 at Rs 1.9 lakh crore.
CPs are short-term, unsecured debt instruments issued by corporates.
The share of CPs is expected to rise over the medium term from the low of 4% in FY20-23, but will remain lower than the pre-pandemic high of 11%,” Malvika Bhotika, director, of Crisil Ratings.

14) Answer: E

Public sector Indian Renewable Energy Development Agency (IREDA) the government had granted it the ‘navratna’ status, according to a company filing with the stock exchanges.
This takes the total number of navratna PSEs to 17.
These companies have the autonomy to invest up to ₹1,000 crore.

Detailed Explanation:

Public sector Indian Renewable Energy Development Agency (IREDA) the government had granted it the ‘navratna’ status, according to a company filing with the stock exchanges.
This takes the total number of navratna PSEs to 17.
These companies have the autonomy to invest up to ₹1,000 crore.
IREDA is a Non-Banking Financial Institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy
A Navratna company is a public sector undertaking in India that has been granted Navratna status.
These companies play a significant role in the nation’s economy and hold a prestigious position compared to other PSUs, both domestically and globally.
Once designated as Navratna, these companies are given authority in areas such as capital expenditure, investment in joint ventures or subsidiaries and human resources management.

15) Answer: E

Sunil Kumar Yadav, an Indian Revenue Services (IRS-IT) officer from the 2010 batch, has been appointed as Director in the Ministry of Housing and Urban Affairs, Delhi.

About Ministry of Housing and Urban Affairs :

Cabinet Minister : Hardeep Singh Puri
Minister of State : Kaushal Kishore

Detailed Explanation:

Sunil Kumar Yadav, an Indian Revenue Services (IRS-IT) officer from the 2010 batch, has been appointed as Director in the Ministry of Housing and Urban Affairs, Delhi.
According to an order issued by the Department of Personnel & Training (DoPT), Yadav’s appointment is for a period of 5 years from the date he assumes charge or until further orders, whichever comes first.

About Ministry of Housing and Urban Affairs :

Cabinet Minister : Hardeep Singh Puri
Minister of State : Kaushal Kishore

16) Answer: C

SarvadanandBarnwal, an officer from the Indian Statistical Service (ISS), has been selected for appointment as Director in the Department of Land Resources.

Detailed Explanation:

SarvadanandBarnwal, an officer from the Indian Statistical Service (ISS), has been selected for appointment as Director in the Department of Land Resources.
The appointment is under the Central Staffing Scheme (CSS), which facilitates the recruitment of officers for central government positions from various services.
According to the Department of Personnel & Training (DoPT) order issued Barnwal’s appointment is for 5 years from the date he assumes the position or until further orders, whichever comes first.

17) Answer: B

InterGlobe Enterprises, led by Rahul Bhatia, has partnered with technology veteran C P Gurnani’s Assago to launch an artificial intelligence business venture called AIonOS.
InterGlobe Enterprises’ Background:InterGlobe has a diversified presence in the Travel, Transportation, Logistics, and Hospitality (TTLH) sectors, with India’s largest airline, IndiGo, as part of its group.

About AIonOS :

AIonOS is a joint venture between InterGlobe, the majority partner, and Assago.
The headquarters for AIonOS is in Singapore, indicating an international focus from the outset.

Detailed Explanation:

InterGlobe Enterprises, led by Rahul Bhatia, has partnered with technology veteran C P Gurnani’s Assago to launch an artificial intelligence business venture called AIonOS.
InterGlobe Enterprises’ Background:InterGlobe has a diversified presence in the Travel, Transportation, Logistics, and Hospitality (TTLH) sectors, with India’s largest airline, IndiGo, as part of its group.
Purpose of AIonOS: The venture is designed to help businesses accelerate their digital transformation by offering AI-powered solutions that enhance both human and system capabilities.
This focus on digital transformation positions AIonOS as a valuable partner for businesses looking to leverage artificial intelligence for growth and efficiency.
AIonOS Offerings:AIonOS plans to offer a range of AI-powered specialized products and technologies, including:
AI custom solutions tailored to specific business needs.
Industry-specific products for various sectors.
Data insights to help businesses make informed decisions.
Global Presence: Apart from India, AIonOS intends to establish a presence in multiple regions, including North America, Europe, and the Middle East.

About AIonOS :

AIonOS is a joint venture between InterGlobe, the majority partner, and Assago.
The headquarters for AIonOS is in Singapore, indicating an international focus from the outset.

18) Answer: B

SJVN signed a Memorandum of Understanding (MoU) with THDC India Limited for the development of a High-Performance Water Sports Academy in Tehri,Uttarakhand in the benign presence of Smt. Geeta Kapur, CMD, SJVN and Sh. Shallinder Singh, Director (Personnel), THDC at New Delhi.
Geeta Kapur stated that as per the MoU, SJVN will provide financial assistance of Rs. One Crore to THDC for establishing an advanced gymnasium as an integral part of the High-performance Water Sports Academy.

Detailed Explanation:

SJVN signed a Memorandum of Understanding (MoU) with THDC India Limited for the development of a High-Performance Water Sports Academy in Tehri,Uttarakhand in the benign presence of Smt. Geeta Kapur, CMD, SJVN and Sh. Shallinder Singh, Director (Personnel), THDC at New Delh
Geeta Kapur stated that as per the MoU, SJVN will provide financial assistance of Rs. One Crore to THDC for establishing an advanced gymnasium as an integral part of the High-performance Water Sports Academy.
This Academy will also include Training Centers with modern equipment and infrastructure.
The facility is being developed in collaboration with SJVN, THDC, ITBP, Indian Kayaking & Canoeing Association, and the Olympic Association of Uttarakhand for training national-level athletes for national & international competitions in Kayaking & Canoeing.
The Academy will identify and nurture talent in water sports from an early age ensuring a sustainable inflow of skilled athletes.
The development of the Water Sports Academy will create a lasting impact on the youth and will be a significant step towards the flagship initiative ‘Khelo India’ of the Ministry of Youth Affairs and Sports, Government of India.
The MOU was signed by Sh. Awadhesh Prasad, GM (CSR) SJVN and Sh. Amardeep, GM (CSR), THDC, India Limited.

19) Answer: C

Every year, April 28th is celebrated as World Day for Safety and Health at Work all over the world.
On April 29, 1971, the International LabourOrganisation adopted the Occupational Safety and Health Convention.
In 2003, the International LabourOrganisation announced that April 28 will be observed as World Day for Safety and Health at Work.

Detailed Explanation:

Every year, April 28th is celebrated as World Day for Safety and Health at Work all over the world.
World Day for Safety and Health at Work Day is observed to promote the prevention of occupational accidents and diseases globally.
On April 29, 1971, the International LabourOrganisation adopted the Occupational Safety and Health Convention.
In 2003, the International LabourOrganisation announced that April 28 will be observed as World Day for Safety and Health at Work.

20) Answer: B

Every year April 29th is celebrated as International Dance Day also known as World Dance Day.
It was established by the Dance Committee of the International Theatre Institute (ITI), UNESCO’s main partner for the performing arts.
The first International Day of Dance was celebrated in 1982.

Detailed Explanation:

Every year April 29th is celebrated as International Dance Day also known as World Dance Day.
International Dance Day or World Dance Day celebration for those who can see the value and importance of dance.
It was established by the Dance Committee of the International Theatre Institute (ITI), UNESCO’s main partner for the performing arts.
International Dance Day was created to celebrate dance as an art form and to promote its importance worldwide.
The date was chosen to commemorate the birthday of Jean-Georges Noverre, a French dancer and ballet master often credited as the creator of modern ballet.
The first International Day of Dance was celebrated in 1982.
Since then, it has grown into a global celebration with events organised by dance communities, schools, companies and organisations around the world.

This post was last modified on April 29, 2024 6:47 pm

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Daily Current Affairs Quiz – 28th & 29th April 2024

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