Current Affairs Quiz: June 20, 2024

June 21, 2024 CA Team

What is the capacity of the Janata Bhawan Solar Project inaugurated by Assam Chief Minister Himanta Biswa Sarma in Guwahati?
A) 1 MW
B) 2 MW
C) 2.5 MW
D) 3 MW
E) None of the above

View Answer
Option C
Explanation:
Assam Chief Minister Himanta Biswa Sarma inaugurated the Janata Bhawan Solar Project, a 2.5-MW power generation capacity grid connected rooftop and ground-mounted solar PV system, at a ceremony held in Guwahati. The launch of the solar power project has led to the Assam Secretariat Complex becoming the first-ever civil secretariat in the country that relies entirely on solar generated electricity for daily consumption.
In which Indian state did the government recently decide to waive farm loans up to ₹2 lakh, benefiting over 1.91 lakh farmers?
A) Bihar
B) Jharkhand
C) Uttar Pradesh
D) Rajasthan
E) None of the above

View Answer
Option B
Explanation:
The Jharkhand government decided to waive farm loans up to ₹2 lakh to grant relief to over 1.91 lakh farmers in the state.
On which date did the Post Office Act, 2023 officially come into effect, replacing the Indian Post Office Act of 1898?
A) June 18,2024
B) June 23,2024
C) July 1,2024
D) July 13,2024
E) None of the above

View Answer
Option A
Explanation:
The Post Office Act 2023, officially came into effect on June 18, 2024, replacing the Indian Post Office Act of 1898. The new Act aims to modernise India’s postal services framework, ensuring efficient delivery of citizen services and government benefits.
Which hospital recently inaugurated a first-of-its-kind skin bank facility within the Armed Forces Medical Services?
A) AIIMS, New Delhi
B) Army Hospital (Research & Referral), New Delhi
C) Safdarjung Hospital, New Delhi
D) Max Super Speciality Hospital, New Delhi
E) None of the above

View Answer
Option B
Explanation:
Army Hospital (Research & Referral), New Delhi, announced the opening of a state-of-the-art skin bank facility, a first-of-its-kind to be established within the Armed Forces Medical Services.
The Indira Gandhi National Centre for the Arts (IGNCA) signed an MoU to acquire 115 oil paintings depicting the life of Chhatrapati Shivaji. Who signed the MoU with IGNCA?
A) A private art gallery
B) The National Gallery of Modern Art (NGMA)
C) An art collector
D) The Maharashtra State Government
E) None of the above

View Answer
Option C
Explanation:
A set of 115 oil paintings depicting the life and legacy of Maratha ruler Chhatrapati Shivaji, owned by an art collector, will be acquired by the Indira Gandhi National Centre for the Arts after he signed an MoU to donate it.
Which two organizations have signed an agreement to provide digital payment services to Indian migrant workers, recruiting agents, and other users of the eMigrate portal?
A) Ministry of Labour and Employment and HDFC Bank
B) Ministry of External Affairs and State Bank of India
C) Ministry of Home Affairs and ICICI Bank
D) Ministry of Finance and Punjab National Bank
E) None of the above

View Answer
Option B
Explanation:
Ministry of External Affairs and the State Bank of India have signed an agreement to provide additional digital payment services to Indian migrant workers, recruiting agents and other users of the eMigrate portal.
Who won the Stepan Avagyan Memorial 2024 chess tournament in Jermuk, Armenia?
A) Grandmaster Arjun Erigaisi
B) Grandmaster Magnus Carlsen
C) Grandmaster Viswanathan Anand
D) Grandmaster Fabiano Caruana
E) None of the above

View Answer
Option A
Explanation:
Indian Grandmaster Arjun Erigaisi delivered yet another domineering performance to clinch the Stepan Avagyan Memorial 2024 crown in Jermuk, Armenia with a round to spare.
What is the percentage increase in Gross Direct Tax collections for the Financial Year 2024-25 compared to FY 2023-24?
A) 19.99%
B) 20.99%
C) 21.19%
D) 22.19%
E) None of the above

View Answer
Option D
Explanation:
The provisional figures of Direct Tax collections for the Financial Year 2024-25 (as on 17.06.2024) show that Net collections are at Rs. 4,62,664 crore, compared to Rs. 3,82,414 crore in the corresponding period of the preceding Financial Year (i.e. FY 2023-24), representing an increase of 20.99%, data from Ministry of Finance showed.
The provisional figures of Gross collection of Direct Taxes (before adjusting for refunds) for the Financial Year 2024-25 stand at Rs. 5,15,986 crore compared to Rs. 4,22,295 crore in the corresponding period of the preceding financial year, showing a growth of 22.19% over the collections of FY 2023-24.
At which event did Diksha Dagar recently finish tied for 6th place, marking her third Top-10 finish of the season?
A) Ladies European Tour Championship
B) Ladies Italian Open Golf
C) Women’s British Open
D) LPGA Tour Championship
E) None of the above

View Answer
Option B
Explanation:
Indian golfer Diksha Dagar carded an underwhelming 71 in the final round to sign off from the Ladies Italian Open at tied-6th place, her third Top-10 finish of the season.
What is the primary goal of the Nature Restoration Law recently approved by EU Environment Ministers?
A) To promote sustainable agriculture
B) To reduce carbon emissions from industries
C) To restore ecosystems to their natural condition
D) To protect endangered species
E) None of the above

View Answer
Option C
Explanation:
European Union Environment Ministers have approved a much-fought-over conservation law intended to restore habitats to their natural condition, in a vote that was live-streamed publicly.
Which technology company has recently surpassed Apple and Microsoft to become the world’s most valuable company by market capitalization?
A) Nvidia Corp
B) Apple Inc.
C) Microsoft Corp.
D) Intel Corporation
E) None of the above

View Answer
Option A
Explanation:
Nvidia Corp’s surge continues, propelling the chipmaker to the top of the global tech market capitalization leaderboard. The AI chip maker has beaten technology giants Apple and Microsoft to become the world’s most-valuable company.
What was the percentage increase in the Wholesale Price Index (WPI) for food from April to May?
A) 1.88%
B) 2.40%
C) 5.52%
D) 7.40%
E) None of the above

View Answer
Option D
Explanation:
Wholesale food prices have skyrocketed month-on-month in May, with official data showing that the Whole Price Index for food rising from 5.52 per cent in April to 7.40 per cent in May. In the food basket, cereals, paddy, pulses, vegetables, potato, onion, fruits, all spiked.
What is the total financial outlay approved by the Union Cabinet for the National Forensic Infrastructure Enhancement Scheme (NFIES)?
A) Rs. 1254.43 crore
B) Rs. 1754.43 crore
C) Rs. 2254.43 crore
D) Rs. 2754.43 crore
E) None of the above

View Answer
Option C
Explanation:
The Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of Ministry of Home Affairs for Central Sector Scheme “National Forensic Infrastructure Enhancement Scheme (NFIES) with a total financial outlay of Rs. 2254.43 crore during the period from 2024-25 to 2028-29.
What is the total outlay approved by the Union Cabinet for the Viability Gap Funding (VGF) scheme for offshore wind energy projects?
A) Rs. 6453 crore
B) Rs. 7453 crore
C) Rs. 8453 crore
D) Rs. 9453 crore
E) None of the above

View Answer
Option B
Explanation:
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs.7453 crore, including an outlay of Rs.6853 crore for installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and grant of Rs.600 crore for upgradation of two ports to meet logistics requirements for offshore wind energy projects.
Which crop received the highest absolute increase in Minimum Support Price (MSP) for Marketing Season 2024-25 compared to the previous year?
A) Nigerseed
B) Sesamum
C) Tur/Arhar
D) Wheat
E) None of the above

View Answer
Option A
Explanation:
The Union Cabinet chaired by Prime Minister Narendra Modi approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25.
Government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce. The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs.550/- per quintal).
Which of the following organizations has partnered with Ria Money Transfer to enhance doorstep financial services in rural India?
A) State Bank of India
B) India Post Payments Bank
C) HDFC Bank
D) ICICI Bank
E) None of the above

View Answer
Option B
Explanation:
India Post Payments Bank (IPPB) has partnered with Ria Money Transfer, a global leader in cross-border money transfers to provide convenient and affordable doorstep financial services to customers in remote areas across the country.
Which institute felicitated five distinguished alumni for their successful Everest summits at a ceremony held in Dirang, Arunachal Pradesh?
A) Indian Institute of Technology (IIT)
B) National Institute of Mountaineering and Adventure Sports (NIMAS)
C) Indian Institute of Management (IIM)
D) National Academy of Sports Management
E) None of the above

View Answer
Option B
Explanation:
The National Institute of Mountaineering and Adventure Sports (NIMAS), felicitated five of its distinguished alumni who have successfully summited Mount Everest.
Which organization has signed an MoU with Mastercard India to enhance India’s cyber-resilience specifically in the financial sector?
A) Reserve Bank of India
B) Securities and Exchange Board of India (SEBI)
C) None of these
D) Indian Computer Emergency Response Team (CERT-In)
E) National Cyber Security Coordination Center

View Answer
Option D
Explanation:
Indian Computer Emergency Response Team (CERT-In) has joined hands with Mastercard to promote cooperation and information sharing in the area of Cyber security related to the financial sector.
Which ministry partnered with the Australian Government to enhance skills in India’s agriculture sector through the Australia-India Critical Agriculture Skills Pilot Project?
A) Ministry of Agriculture and Farmers Welfare
B) Ministry of Skill Development and Entrepreneurship
C) Ministry of External Affairs
D) Ministry of Rural Development
E) None of the above

View Answer
Option B
Explanation:
The Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with the Australian Government, hosted a comprehensive and productive roundtable to discuss the learnings from the Australia-India Critical Agriculture Skills Pilot Project.
In the context of the National Monetisation Pipeline (NMP), how much has been monetised from assets over a period of three years?
A) Rs 2.85 lakh crore
B) Rs 3.85 lakh crore
C) Rs 4.85 lakh crore
D) Rs 5.85 lakh crore
E) None of the above

View Answer
Option B
Explanation:
Pursuant to the announcement made in the Union Budget 2021-22, the National Monetisation Pipeline (NMP) – listing potential core assets of Central Government Ministries/PSEs for monetization during the period 2021-22 to 2024-25 – was prepared by NITI Aayog in collaboration with the concerned Infrastructure Ministries.National Monetisation Pipeline monetised Rs 3.85 lakh crore of assets in 3 years
In which district of Uttar Pradesh is the world’s first conservation and breeding centre for Asian king vultures set to be established?
A) Maharajganj
B) Lucknow
C) Varanasi
D) Kanpur
E) None of the above

View Answer
Option A
Explanation:
Uttar Pradesh is set to establish the world’s first conservation and breeding centre for Asian king vultures or red-headed vultures in Maharajganj. The facility will improve the population of critically endangered species listed in the International Union for Conservation of Nature’s red list since 2007. The centre is named Jatayu Conservation and Breeding Centre.UP To Establish World’s First Asian King Vulture Conservation & Breeding Centre In Maharajganj
Who has been appointed as an independent director on the board of One 97 Communications, the owner of Paytm?
A) Rajeev Agarwal
B) Neeraj Arora
C) Rajeev Krishnamuralilal Agarwal
D) None of the above

View Answer
Option C
Explanation:
One 97 Communications, which owns brand Paytm, has appointed former SEBI whole-time member Rajeev Krishnamuralilal Agarwal to the board as non-executive independent director.
Federal Bank has collaborated with which organization to launch the RuPay Wave Credit Card, offering UPI-powered transactions on the RuPay network?
A) State Bank of India
B) National Payments Corporation of India
C) Reserve Bank of India
D) ICICI Bank
E) None of the above

View Answer
Option B
Explanation:
Federal Bank, in collaboration with National Payments Corporation of India (NPCI), has launched RuPay Wave Credit Card to offer customers UPI-powered transactions on RuPay network.
What is the purpose of Axis Bank’s recent decision to acquire an additional stake in Max Life Insurance for up to ₹336 crore?
A) To increase Max Life Insurance’s Gross Written Premium
B) To enhance Axis Bank’s aggregate shareholding in Max Life Insurance
C) To launch a new insurance product with Max Life Insurance
D) To reduce Max Life Insurance’s operational costs
E) None of the above

View Answer
Option B
Explanation:
Axis Bank has decided to raise its shareholding in Max Life Insurance for an amount of up to ₹336 crore. This transaction would lead to the aggregate shareholding of the Axis Entities going up from 19.02 per cent to 19.66 per cent.
Which organization has Namdev Finvest, a Jaipur-based NBFC, partnered with to provide comprehensive financial solutions, including insurance services?
A) HDFC Bank
B) ICICI Lombard
C) State Bank of India
D) Bajaj Allianz General Insurance
E) None of the above

View Answer
Option D
Explanation:
Namdev Finvest, a Jaipur based NBFC, has entered into strategic alliance with Bajaj Allianz General Insurance, a leading insurance platform, to offer comprehensive financial solutions, including insurance and NBFC services, to its customers.

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