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Current Affairs Quiz: March 19, 2024

  1. Who, as the Chief Election Commissioner, announced the launch of the ‘Know Your Candidate’ (KYC) app, which enables voters to check for any criminal records of electoral candidates ahead of Lok Sabha polls?
    A) Rajiv Kumar
    B) Sunil Arora
    C) Amit Shah
    D) Narendra Modi
    E) None of the above
    View Answer
    Option A
    Explanation:

    Chief Election Commissioner Rajiv Kumar said the poll watchdog has launched a new mobile application called ‘Know Your Candidate’ (KYC) which will enable voters to find out if any electoral candidate in their constituency has any criminal records.

  2. In which city of Jammu and Kashmir did the first ever event of hosting the inaugural Formula 4 race alongside the scenic Dal Lake unfold?
    A) Jammu City
    B) Srinagar
    C) Pahalgam
    D) Leh
    E) None of the above
    View Answer
    Option B
    Explanation:

    Jammu and Kashmir hosted its first-ever Formula 4 car race in Srinagar on the banks of Dal Lake.
  3. In which country did the ceremony take place where Uday Bhatia of Delhi and Manasi Gupta of Haryana were honored with the prestigious Diana Legacy Awards?
    A) India
    B) United States
    C) United Kingdom
    D) Australia
    E) None of the above
    View Answer
    Option C
    Explanation:

    Uday Bhatia and Manasi Gupta, hailing from Delhi and Haryana respectively, have been honored with the prestigious Diana Legacy Awards in the UK. Prince William presented the awards to Bhatia and Gupta at a ceremony held at London’s Science Museum.These awards celebrate the 25th anniversary of the Diana Award charity, established in memory of Princess Diana.

  4. At which venue did Odisha CM Naveen Patnaik inaugurate India’s first Indoor Athletics and Aquatic Center, along with laying the foundation stone for the Indoor Diving Centre?
    A) Jawaharlal Nehru Stadium, Delhi
    B) Eden Gardens, Kolkata
    C) Kalinga Stadium, Bhubaneswar
    D) Wankhede Stadium, Mumbai
    E) None of the above
    View Answer
    Option C
    Explanation:

    In a major boost to Indian athletics and swimming, Chief Minister Naveen Patnaik inaugurated India’s first Indoor Athletics Centre and Indoor Aquatic Centre at the Kalinga Stadium in Bhubaneswar. He also laid the foundation stone for the Indoor Diving Centre.The Indoor Athletics Centre stands as India’s first capable of hosting indoor continental and regional championships.
  5. According to Reserve Bank of India data, what is the current total value of India’s foreign exchange reserves as of March 8, 2024?
    A) $536.1 billion.
    B) $636.1 billion.
    C) $736.1 billion.
    D) $836.1 billion.
    E) None of the above
    View Answer
    Option B
    Explanation:

    India’s foreign exchange reserves are on their way to crossing their record-high levels, after increasing for the third straight time in the week ended March 8. Reserves rose $10.47 billion during the week, recording the highest weekly increase since July 14, 2023, to touch a two-year high of $636.1 billion as of March 8, as per Reserve Bank of India data.

  6. Who has been appointed as the new chairperson of the Central Board of Secondary Education (CBSE) as part of a senior-level bureaucratic reshuffle?
    A) Nidhi Chhibber
    B) Rahul Singh
    C) Sameer Sharma
    D) Deepak Mishra
    E) None of the above
    View Answer
    Option B
    Explanation:

    Senior bureaucrat Rahul Singh has been appointed as the chairperson of the Central Board of Secondary Education (CBSE), as part of a senior-level bureaucratic reshuffle effected by the Centre. Singh succeeding Nidhi Chhibber.Singh, a 1996-batch IAS officer of the Bihar cadre, is currently serving as the Additional Secretary in the Department of Personnel and Training (DoPT).
    Chhibber, the outgoing CBSE chairperson, has been appointed as Advisor to the Niti Aayog. The reshuffle also includes the appointment of A P Das Joshi, a 1994-batch IAS officer of the Assam-Meghalaya cadre, as the new Additional Secretary in DoPT, replacing Singh.

  7. What recent initiative has Aditya Birla Sun Life AMC Limited (ABSLAMC) undertaken to enhance investor engagement and satisfaction across their digital platforms?
    A) Launching a new series of mutual funds
    B) Introducing MyMutualFundGPT, an information tool
    C) Partnering with a fintech company for investment management
    D) Expanding their customer service team for better support
    E) None of the above
    View Answer
    Option B
    Explanation:

    Aditya Birla Sun Life AMC Limited (ABSLAMC) has introduced MyMutualFundGPT, an information tool aimed at improving the overall investor experience across their digital platforms.The Gen AI-based tool goes beyond simple keyword matching by understanding the context of searches and producing solutions based on their meaning.
  8. Which prominent general insurance provider recently introduced “Travel Guard Plus,” a comprehensive travel insurance product with a variety of package options?
    A) Allianz Travel
    B) TATA AIG General Insurance Company Limited
    C) Liberty Mutual Insurance
    D) Geico Insurance
    E) State Farm Insurance
    View Answer
    Option B
    Explanation:

    TATA AIG General Insurance Company Limited, a prominent general insurance provider, has unveiled “Travel Guard Plus,” a comprehensive travel insurance product that redefines full coverage for travellers through a variety of package options.
  9. Which collaboration aims to broaden the use of factoring solutions for MSMEs in India, demonstrating the potential of invoice factoring to reduce working capital requirements and improve credit availability?
    A) Cashinvoice and HDFC Bank
    B) Paytm and ICICI Bank
    C) Cashinvoice and SBI Global Factors Limited
    D) PhonePe and Axis Bank
    E) None of the above
    View Answer
    Option C
    Explanation:

    Cashinvoice, a digital supply chain finance platform, has teamed with SBI Global Factors Limited, India’s leading factoring provider, to broaden the use of factoring solutions for MSMEs in India.This collaboration is positioned to demonstrate the potential of invoice factoring to reduce working capital requirements and improve credit availability for Indian MSMEs.
  10. Which NBFC recently introduced a business loan named “PRAGATI,” specifically designed for female entrepreneurs, demonstrating its commitment to women’s empowerment by offering a 50% reduction on processing expenses for loans granted until March 31, 2024?
    A) HDFC Bank
    B) ICICI Bank
    C) U GRO Capital Limited
    D) Axis Bank
    E) None of the above
    View Answer
    Option C
    Explanation:

    UGRO Capital Limited, a leading DataTech NBFC focused on MSME lending, unveiled a new business loan, ‘PRAGATI’, for female entrepreneurs. U GRO Capital demonstrates its commitment to women’s empowerment by simplifying loan processes and offering a 50% reduction on processing expenses for loans granted until March 31, 2024.
  11. Which private sector general insurer has teamed up with the non-banking finance company Dvara KGFS to provide a comprehensive range of general insurance products, with the goal of boosting insurance penetration in rural parts of India?
    A) ICICI Lombard General Insurance
    B) HDFC ERGO General Insurance
    C) Royal Sundaram General Insurance
    D) Bajaj Allianz General Insurance
    E) None of the above
    View Answer
    Option C
    Explanation:

    Private sector general insurer Royal Sundaram has partnered with non-banking finance company Dvara KGFS to offer its comprehensive suite of general insurance products, aimed at enhancing insurance penetration in rural areas of the country.
  12. Which regulatory change by the Reserve Bank of India (RBI) is expected to boost the adoption and usage of the National Common Mobility Card (NCMC)?
    A) Allowing cash withdrawals up to ₹3,000 without KYC
    B) Permitting NCMC usage for online shopping up to ₹3,000 without KYC
    C) Increasing the credit limit for NCMC holders to ₹3,000 without KYC
    D) Allowing issuance of NCMC with a limit of ₹3,000 without KYC
    E) None of the above
    View Answer
    Option D
    Explanation:

    The National Common Mobility Card (NCMC), offering seamless digital payments across multiple public transport systems in the country, has found limited adoption to date. But that may change now, thanks to regulatory latitude over use cases.
    The Reserve Bank of India (RBI) has now allowed such cards to be issued with a limit of ₹3,000 without any KYC. This will likely allow more such cards to be issued – and used.
  13. Which milestone did the Ministry of Micro, Small and Medium Enterprises (MSMEs) achieve as of March 15, indicating progress in the formalization initiative?
    A) Crossing four crore registered enterprises on Udyam and UAP
    B) Establishing a new policy framework for MSMEs
    C) Launching a nationwide campaign for MSME awareness
    D) Implementing digital payment solutions for MSMEs
    E) None of the above
    View Answer
    Option A
    Explanation:

    As on March 15, the total number of registered enterprises on Udyam and UAP crossed four crore, which is a major milestone for the formalization initiative undertaken by the Ministry of Micro, Small and Medium Enterprises (MSMEs)
  14. Which fintech company recently received approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP) under the UPI multi-bank model?
    A) PhonePe
    B) Google Pay
    C) Paytm (One97 Communications Limited)
    D) Amazon Pay
    E) None of the above
    View Answer
    Option C
    Explanation:

    The National Payments Corporation of India (NPCI) has approved One97 Communications Limited (OCL), which operates popular fintech company Paytm, to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider) banks to OCL, as per an NPCI release.

  15. What is the loan amount provided by India’s Export-Import Bank to facilitate the acquisition of two new aircraft by the Guyana Defence Force?
    A) $20 million
    B) $25 million
    C) $23.27 million
    D) $30 million
    E) $40 million
    View Answer
    Option C
    Explanation:

    The Indian defence industry is making forays in the Caribbean with the Guyana Defence Force (GDF) planning to soon acquire two new aircraft from New Delhi with a $23.27 million loan from Export-Import Bank of India.With the signing of this LOC Agreement, the Government of Guyana has received a total of eleven (11) LOCs from the Indian EXIM Bank over the years.
  16. What is the primary objective of the Signals Technology Evaluation and Adaptation Group (STEAG) recently established by the Indian Army?
    A) To develop advanced weaponry for combat operations
    B) To undertake research and evaluation of futuristic communication technologies
    C) To enhance medical facilities for soldiers on the battlefield
    D) To train personnel in traditional warfare tactics
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Indian Army has raised an elite tech unit that will undertake research and evaluation of futuristic communication technologies like 6G, artificial intelligence, machine learning and quantum computing for military use given the changing nature of the field.The Signals Technology Evaluation and Adaptation Group or STEAG is mandated to nurture technologies spanning the complete spectrum of wired and wireless systems, officials said.
  17. Which bilateral tri-service exercise is scheduled between India and the US from March 18 to 31, aimed at enhancing interoperability for Humanitarian Assistance and Disaster Relief (HADR) operations?
    A) Tiger Strike
    B) Lion Courage
    C) Tiger Triumph-24
    D) Eagle Response
    E) None of the above
    View Answer
    Option C
    Explanation:

    A bilateral tri-service exercise between India and the US will be held on the Eastern Seaboard in the US from March 18 to 31.The exercise, Tiger Triumph-24, is aimed at “developing interoperability” for conducting Humanitarian Assistance and Disaster Relief (HADR) operations and refine Standard Operating Procedures (SOPs) to enable rapid and smooth coordination between forces of both countries.
  18. What is the value of the block deal involving the sale of Tata Consultancy Services (TCS) shares by Tata Sons, the holding company of the Tata Group?
    A) ₹9,362.3 crore ($1.13 billion)
    B) ₹1,000 crore ($150 million)
    C) ₹5,000 crore ($750 million)
    D) ₹12,000 crore ($1.8 billion)
    E) None of the above
    View Answer
    Option A
    Explanation:

    Tata Sons, the holding company of the Tata Group, will be selling 2.34 crore shares or 0.65 per cent equity of Tata Consultancy Services through a block deal for ₹9,362.3 crore ($1.13 billion).
  19. Who has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Poonawalla Fincorp, a non-banking financial corporation (NBFC)?
    A) Aditya Puri
    B) Chanda Kochhar
    C) Arvind Kapil
    D) Uday Kotak
    E) None of the above
    View Answer
    Option C
    Explanation:

    Poonawalla Fincorp, a non-banking financial corporation (NBFC), named Arvind Kapil as its Managing Director (MD) and Chief Executive Officer (CEO).
  20. Which bank has pledged a contribution of ₹100 crore towards the National Cancer Grid (NCG) to support initiatives such as the establishment of a national tumour biobank and a cancer teleconsultation network?
    A) HDFC Bank
    B) ICICI Bank
    C) Axis Bank
    D) State Bank of India
    E) None of the above
    View Answer
    Option C
    Explanation:

    A national tumour biobank and cancer teleconsultation network are among the projects that will be supported by a ₹100 crore contribution towards the National Cancer Grid (NCG), from Axis Bank.As part of the five year partnership, Axis Bank will support NCG, a network of 300-plus cancer centres across the country, coordinated by the Tata Memorial Hospital (TMH), under the Tata Memorial Centre.

  21. With whom did the Ministry of Rural Development, Government of India, sign a Memorandum of Understanding (MoU) for technical assistance in implementing inclusive development under DAY NRLM?
    A) World Bank
    B) UNICEF
    C) J-PAL South Asia
    D) Asian Development Bank
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Ministry of Rural Development, Government of India signed a MoU with Abdul Latif Jameel Poverty Action Lab (J-PAL), South Asia at IFMR. J-PAL, SA@ IFMR will act as a knowledge partner on inclusive development to put rural poor women on the path to self-sufficiency.As part of this partnership, J-PAL South Asia will support MoRD in catalysing the adoption of scientific evidence and data in their decision-making.

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