Current Affairs Quiz: May 24, 2024

May 24, 2024 CA Team

Which country recently became the 99th member of the International Solar Alliance by handing over its Instrument of Ratification during a meeting in New Delhi?
A) Portugal
B) Spain
C) Italy
D) Greece
E) None of the above

View Answer
Option B
Explanation:
Spain has become the 99th member of the International Solar Alliance. Spain handed over the International Solar Alliance Instrument of Ratification during the meeting between Spain’s Ambassador to India, Jose Maria Ridao Domkinguez, and Head of Depository, Joint Secretary (ED and MER), Ministry of External Affairs (MEA), Abhishek Singh in New Delhi.
Which country’s diplomatic missions were recognized with the prestigious Shield of Honour at the 5th Minister of Foreign Affairs Excellence Awards in the UAE?
A) United States
B) United Kingdom
C) India
D) Australia
E) None of the above

View Answer
Option C
Explanation:
India’s diplomatic missions in the UAE were recognized for their outstanding work at the 5th Minister of Foreign Affairs Excellence Awards ceremony held under the patronage of Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the United Arab Emirates.
In a rare distinction, India became the only country to receive two honours, with the Indian Embassy in Abu Dhabi and the Consulate General of India in Dubai both awarded the prestigious Shield of Honour.
What is the name of the most sacred Buddhist festival celebrated in Sikkim that commemorates the birth, enlightenment, and Mahaparinirvana of Buddha Shakyamuni?
A) Losar
B) Vesak
C) Saga Dawa
D) None of these
E) Lhabab Duchen

View Answer
Option C
Explanation:
Sikkim is celebrating Saga Dawa, a festival that falls annually on the 15th day of the fourth month of the Northern Buddhist Calendar.Saga Dawa is considered the most sacred Buddhist festival, commemorating the birth, enlightenment, and Mahaparinirvana (passing away) of Buddha Shakyamuni. This day is also known as the ‘Triple Blessed Occasion’.
What is the name of the campaign launched by the International Olympic Committee (IOC) to inspire people to celebrate athletes participating in the Paris Olympics?
A) Cheer for Champions
B) Road to Paris
C) Let’s Move India
D) Go for Gold
E) None of the above

View Answer
Option C
Explanation:
The International Olympic Committee (IOC) has announced the launch of ‘Let’s Move India’, an initiative to inspire people to celebrate the athletes participating in the upcoming Olympic Games in Paris. The move invites people from across the country to join the movement through a digital challenge on social media.The “Let’s Move India” campaign in collaboration with Reliance Foundation and Abhinav Bindra Foundation, inviting everyone to celebrate the Olympians heading to the Paris Olympics.
Which Indian athlete clinched the gold medal in men’s shot put at the World Para Athletics Championship in Kobe, Japan, setting a new Asian record in the F46 category?
A) Dharambir
B) Sumit Antil
C) Thangavelu Mariyappan
D) Sachin Sarjerao Khilari
E) None of the above

View Answer
Option D
Explanation:
In Para Athletics, India’s Sachin Sarjerao Khilari clinched the gold medal in the men’s shot put at the World Para Athletics Championship in Kobe, Japan. He also set a new Asian record with a throw of 16.30 metres in the F46 category, to defended his title at the world championships.
Which organization approved the world’s first major artificial intelligence law, known as the AI Act?
A) United Nations
B) European Council
C) NATO
D) World Economic Forum
E) None of the above

View Answer
Option B
Explanation:
The European Council has passed the AI Act, proposed first in April 2021, to harmonize regulations on artificial intelligence across the European Union (EU). Under the new law, which is set to take effect next month, AI systems are categorized based on their level of risk, with stricter regulations imposed on those deemed high-risk.
Who was recently appointed as a Member of the Central Electricity Regulatory Commission (CERC) and took the oath of office administered by the Union Minister for Power and New & Renewable Energy?
A) Ramesh Babu V.
B) Abhinav Bindra
C) Abhishek Singh
D) Jose Maria Ridao Domkinguez
E) None of the above

View Answer
Option A
Explanation:
Ramesh Babu V. has taken oath of office and secrecy as Member, Central Electricity Regulatory Commission(CERC) . The oath of office and secrecy was administered to him, by the Union Minister for Power and New & Renewable Energy Shri R. K. Singh.
Which Indian company exported its first-ever consignment of 100 octane premium fuel, XP100, to Sri Lanka?
A) Bharat Petroleum Corporation Ltd.
B) Hindustan Petroleum Corporation Ltd.
C) Indian Oil Corporation Ltd.
D) Reliance Industries Ltd.
E) None of the above

View Answer
Option C
Explanation:
Indian Oil Corporation Ltd. (IOCL) exported its first-ever consignment of 100 octane premium fuel, XP100 to Sri Lanka from the Jawaharlal Nehru Port Trust in Mumbai. The product is tailored for premium high-end vehicles.
Which general insurance company in India has signed a strategic bancassurance collaboration agreement with Jana Small Finance Bank to increase insurance penetration?
A) HDFC ERGO General Insurance
B) ICICI Lombard General Insurance
C) SBI General Insurance
D) Bajaj Allianz General Insurance
E) None of the above

View Answer
Option C
Explanation:
SBI General Insurance, one of India’s top general insurance firms, has signed a strategic bancassurance collaboration agreement with Jana Small Finance Bank, a leading financial institution in India, to facilitate the sale of non-life insurance products.
Who are the winners of the 2024 International Booker Prize for the novel “Kairos,” and who translated the book into English?
A) Jenny Erpenbeck and Michael Hofmann
B) Michael Hofmann and Jenny Erpenbeck
C) Erpenbeck Hofmann and Jenny Michael
D) Jenny Hofmann and Michael Erpenbeck
E) None of the above

View Answer
Option A
Explanation:
Jenny Erpenbeck and Michael Hofmann have jointly won the 2024 International Booker Prize for Erpenbeck’s novel “Kairos,” translated from German by Hofmann. Jenny Erpenbeck, who was longlisted for the prize in 2018, becomes the first German writer to win it. Michael Hofmann becomes the first male translator to win. Granta Books wins for the second time since 2016, when the prize took its current form
Who won the Casablanca Chess Variant tournament in 2024, held in Casablanca, Morocco?
A) Hikaru Nakamura
B) Magnus Carlsen
C) Fabiano Caruana
D) None of these
E) Viswanathan Anand

View Answer
Option B
Explanation:
The world No 1, Magnus Carlsen (Europe)won the Casablanca Chess Variant tournament with 4.5 points from six rounds at Casablanca, Morocco.
How much gold did the Reserve Bank of India (RBI) purchase between January and April 2024, compared to the total gold added in 2023?
A) 16 tonnes
B) 20 tonnes
C) 24 tonnes
D) 32 tonnes
E) 22 tonnes

View Answer
Option C
Explanation:
The Reserve Bank of India (RBI) has significantly increased its gold reserves, adding 24 tonnes between January and April 2024. This move is part of a strategic diversification of reserves aimed at mitigating risks amid ongoing geopolitical tensions and economic uncertainty. This increase is almost one and a half times the 16 tonnes of gold added throughout 2023, as per an analysis of RBI data.
How much did Canada Pension Plan Investment Board (CPP Investments) invest in the National Highways Infra Trust (NHIT) sponsored by the National Highways Authority of India during the fiscal year 2023-24?
A) $394.78 million
B) $217.13 million
C) $611.91 million
D) $511.91 million
E) None of the above

View Answer
Option B
Explanation:
Canada Pension Plan Investment Board (CPP Investments) said it has invested USD 217.13 million in 2023-24 in the National Highways Infra Trust (NHIT), an infrastructure investment trust sponsored by the National Highways Authority of India.
CPP Investments said that it has invested an additional USD 394.78 million in Interise Trust (formerly IndInfravit Trust) in 2023-24 to help fund the acquisition of four operating road concessions
The Indian Air Force inaugurated its first-ever Emergency Medical Response System (EMRS). Who is the primary beneficiary of this system?
A) All citizens of Bengaluru
B) All military personnel and their families in India
C) All IAF personnel and their families across India
D) Only IAF personnel stationed in Bengaluru
E) Serving IAF personnel across India

View Answer
Option C
Explanation:
Chief of the Air Staff Air Chief Marshal VR Chaudhari has inaugurated its first-ever Emergency Medical Response System(EMRS) of the Indian Air Force at Command Hospital Air Force in Bengaluru.
The Emergency Medical Response System (EMRS) has been set up in order to provide expert guidance and definitive care during medical emergencies of serving personnel and their families of the Indian Air Force (IAF) across the nation.
The Indian Army’s Project Udbhav examines historical military strategies. Who is the current Chief of the Army Staff leading the Indian Army?
A) VR Chaudhari
B) Manoj Pande
C) K. M. Cariappa
D) None of these
E) Bipin Rawat

View Answer
Option B
Explanation:
Army Chief Gen Manoj Pande said that the Indian Army has explored the epic battles of the Mahabharata, heroic exploits of eminent military figures and India’s rich heritage in statecraft under project Udbhav.
According to a report by which institute is the Gangetic dolphin population in the river basin estimated to be over 4,000?
A) The National River Conservation Directorate
B) The Central Pollution Control Board
C) The Wildlife Institute of India
D) None of these
E) The Ministry of Environment, Forest and Climate Change

View Answer
Option C
Explanation:
According to a recent report by the Wildlife Institute of India, there are more than 4000 dolphins in the Gangetic River basin. Out of the 4000 river dolphins found in the Ganga River and its tributaries, more than 2000 are found in Uttar Pradesh alone. In Uttar Pradesh, the dolphins are mainly found in the Chambal River.
Who was awarded the Shaw Prize in Astronomy for 2024 for his groundbreaking discoveries on millisecond pulsars, gamma-ray bursts, supernovae and other transient astronomical phenomena?
A) Sudha Murty
B) Srinivas R Kulkarni
C) Swee Lay Thein
D) Stuart Orkin
E) None of the above

View Answer
Option B
Explanation:
Srinivas R Kulkarni(67), an Indian-origin US scientist and brother of philanthropist Sudha Murty, has been awarded the prestigious Shaw Prize in Astronomy for 2024 for his groundbreaking discoveries on millisecond pulsars, gamma-ray bursts, supernovae and other transient astronomical phenomena.
Which three European countries recently announced their decision to recognize Palestine as an independent state, leading to Israel recalling its envoys and issuing a stern warning about the move amidst the Israel-Hamas conflict?
A) France, Germany, Italy
B) Ireland, Spain, Norway
C) Sweden, Denmark, Finland
D) Belgium, Netherlands, Portugal
E) None of the above

View Answer
Option B
Explanation:
The authorities of Ireland, Spain and Norway have announced their decision to recognize Palestine as an independent state, leading Israeli Foreign Minister Israel Katz to issue a warning about the danger of this move. The recognition of Palestine comes against the backdrop of the devastating Israel-Hamas conflict, which has resulted in a humanitarian crisis in Gaza.
Which international body declared May 24 as the International Day of the Markhor, with a resolution co-sponsored by Pakistan and eight other nations?
A) European Union
B) United Nations General Assembly
C) World Health Organization
D) International Monetary Fund
E) None of the above

View Answer
Option B
Explanation:
The UN General Assembly passed a resolution, co-sponsored by Pakistan and eight other nations, designating May 24 as the International Day of the Markhor.
According to the Reserve Bank of India’s (RBI) state of the economy report, what is the projected Consumer Price Index (CPI) inflation for the fiscal year 2025 (FY25)?
A) 4.0%
B) 3.5%
C) 5.0%
D) 5.5%
E) 4.5%

View Answer
Option E
Explanation:
The Reserve Bank of India’s (RBI’s) state of the economy report observed that any durable alignment of headline retail inflation with the target of 4 per cent could recommence in the second half of FY25 and sustain until numbers closer to the target are seen during the course of FY26, dashing hopes of any reduction in the policy repo rate in the current financial year.The RBI has projected consumer price index (CPI) inflation of 4.5 per cent in FY25.
Which city achieved the highest rank among Indian cities in the Oxford Economics Global Cities Index 2024, securing the 350th position globally?
A) Mumbai
B) Bangalore
C) None of these
D) Chennai
E) Delhi

View Answer
Option E
Explanation:
Delhi has been placed 350 in the Oxford Economics Global Cities Index 2024, making it the highest ranked Indian city. The ranking compares the world’s 1000 cities. In 2023, cities in the report accounted for 60% of global GDP and 30% of the world’s population.
Which company recently launched an industry-first sonic identity, symbolizing financial freedom, and became the first asset management company (AMC) in India to introduce its own brand sound?
A) Bajaj Markets
B) MPOWER Financing
C) Nippon India Mutual Fund
D) None of these
E) Varaha Heritage

View Answer
Option C
Explanation:
Nippon Life India Asset Management Limited (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), proudly announces the unveiling of its groundbreaking sonic identity – a powerful soundscape symbolizing financial freedom.
NIMF is the first asset management company (AMC) in India to launch its own brand sound. This innovative initiative underscores the company’s commitment to innovation and fostering deeper connections with investors.
Who chairs the expert committee set up by the International Financial Services Centres Authority (IFSCA) to position GIFT IFSC in Gujarat as a ‘Global Trading Hub’?
A) Rajeev Kher
B) Michael Patra
C) Sanjay Kumar
D) Anjali Sharma
E) None of the above

View Answer
Option A
Explanation:
The International Financial Services Centres Authority (IFSCA) has set up an expert committee to position GIFT IFSC in Gujarat as a ‘Global Trading Hub’.The 21-member committee will be chaired by former Union commerce secretary, Rajeev Kher.
Who was the Oscar-winning composer of the music for ‘Finding Neverland’ who recently passed away at the age of 71?
A) John Williams
B) Hans Zimmer
C) Jan A.P. Kaczmarek
D) Ennio Morricone
E) None of the above

View Answer
Option C
Explanation:
Polish composer Jan A P. Kaczmarek, who won a 2005 Oscar for the musical score of Finding Neverland, died. He was 71

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