Hello, fellow, thinkers and dreamers..!!!!Stay informed, test your knowledge, and be a news guru! Take our current affairs quiz and stay ahead of the game with the latest happenings around the world.
Q1.India recently acquired its first Airbus C295 aircraft. What is the primary purpose of this aircraft?
1. Passenger Transport
2. Cargo Transport
3. Military Operations
4.Search and Rescue Missions
Ans:-3) Military Operations
- India has achieved a significant milestone with the introduction of the inaugural C295 aircraft, signifying a momentous feat in the country’s aviation history. This achievement stems from a collaboration between the renowned European aviation company, Airbus, and the Indian conglomerate, Tata Group, marking a historic occasion where an Indian private enterprise engages in aircraft manufacturing.
- The C295 aircraft is positioned to take over the IAF’s aging Avro fleet. With the capacity to carry up to nine tonnes of payload or accommodate as many as 71 troops, it boasts a maximum cruising speed of approximately 480 kilometers per hour. A notable feature is its rear ramp designed for efficient loading and unloading, addressing a capability that the Avro aircraft was deficient in.
Q2.The Cabinet recently approved E-Courts Phase III for a four-year duration. What is the main objective of the E-Courts project?
1. Enhancing cybersecurity in government agencies
2.Digitizing court proceedings and improving access to justice
3.Implementing e-governance in rural areas
4.Strengthening postal services
Ans:-2) Digitizing court proceedings and improving access to justice
- The Indian government has greenlit Phase III of the e-Courts project, signaling a significant stride in the modernization of the country’s judicial system. With an extensive budget allocation of Rs 7,210 crore, this endeavor aims to harness technology for augmenting the efficiency and accessibility of the courts.
- A pivotal goal of the e-Courts Phase III initiative is the transition towards a digital, online, and paperless court system. This ambitious venture strives to digitize the entire spectrum of court records, encompassing even legacy documents. This digital metamorphosis is poised to streamline court proceedings, curtail administrative overhead, and accelerate access to crucial legal information.
Q3.The Cabinet recently approved the expansion of Ujjwala Yojana. What is the primary objective of the Ujjwala Yojana?
1.Providing electricity to rural households
2.Promoting digital literacy in remote areas
3.Enhancing access to clean cooking fuel for women in rural areas
4.Offering financial assistance for education
Ans:-3) Enhancing access to clean cooking fuel for women in rural areas
- The Indian government has introduced the third phase of the Ujjwala scheme, aimed at granting complimentary gas connections, inclusive of a stove and initial refill, to 7.5 million underprivileged households over a span of three years. This development expands the program’s reach to an impressive 103.5 million households.
- Under this recent phase of the Pradhan Mantri Ujjwala Yojana (PMUY), beneficiaries will be provided with a gas connection devoid of any deposit, along with a stove and their first 14.2kg cylinder, all at no expense.
- This extension is projected to incur an estimated ₹1,650 crore, initially supported by state-run oil marketing companies. The government will subsequently reimburse these companies. Noteworthy is the fact that the scheme has broadened its scope to encompass households previously excluded from LPG connections, ensuring a wider coverage of the population.
Q4.India recently achieved a milestone by becoming the 13th nation to issue globally recognized OIML Certificates. What does OIML stand for?
1.Organization for International Market Licensing
2.Office of Indian Measurement and Licensing
3.Organization for International Legal Metrology
4.Office of Indian Manufacturing and Licensing
Ans:-3) Organization for International Legal Metrology
- India has joined the ranks of countries authorized to issue International Organisation of Legal Metrology (OIML) certificates. The announcement was made by the Union Consumer Affairs Ministry on September 14 in New Delhi, marking a pivotal moment in India’s metrological capabilities.
- Both domestic and global manufacturers can now have their weighing and measuring instruments tested within the country, opening doors for international market sales. Previously, testing had to be conducted in one of the 12 countries, including China and Japan.
- This development is expected to generate significant economic advantages for India. By offering testing facilities for international manufacturers, India would not only generate revenue but also create employment opportunities.
Q5. Karnataka has recently introduced a Rs 4 lakh insurance cover for which group of workers?
Ans:-2) Gig workers
- The Karnataka government has launched a groundbreaking initiative, providing a comprehensive insurance package valued at Rs 4 lakh. This includes Rs 2 lakh in life insurance coverage and an additional Rs 2 lakh for accidental insurance. This monumental stride is anticipated to extend benefits to around 2.3 lakh gig workers in the state.
- Through the Karnataka State Gig Workers Insurance Scheme, gig workers gain access to a spectrum of advantages. Notably, hospital expenses of up to Rs 1 lakh will be reimbursed for accidents, whether they occur on or off duty.
- The newly introduced program, appropriately named the ‘Karnataka State Gig Workers Insurance Scheme,’ will be promptly put into effect through the Karnataka State Unorganised Workers’ Social Security Board.
Q6.BAE Systems and L&T have recently collaborated for what purpose?
1.Launching a new satellite
2.Developing an all-terrain vehicle
3.Establishing a new educational institute
4.Designing a high-speed train
Ans:-2) Developing an all-terrain vehicle
- BAE Systems, a global defense and security company, has joined forces with India’s Larsen & Toubro (L&T) to introduce a groundbreaking development in the Indian defense arena. Their collaborative endeavor aims to introduce the world-leading Articulated All-Terrain Vehicle (AATV), renowned as the ‘BvS10,’ to the Indian armed forces.
- Under the combined efforts of BAE Systems and L&T, the BvS10 is undergoing a significant upgrade, resulting in a new variant named the ‘BvS10-Sindhu.’ This innovative vehicle is meticulously designed to excel in the rigorous terrains and challenging climatic conditions frequently encountered in India.
- The upcoming trials this month will serve as a platform to demonstrate the essential capabilities of the BvS10-Sindhu, which lies in its unparalleled mobility, adaptability, and effectiveness in operations under extreme climatic conditions. These attributes are poised to position the BvS10-Sindhu as a transformative asset for the Indian armed forces.
Q7.Wholesale prices in India have seen a continued decline for the fifth consecutive month, reaching -0.52% in August. What does this negative figure indicate?
- On September 14, the Indian government disclosed the Wholesale Price Index (WPI) data for August, highlighting a consistent pattern of declining wholesale inflation. The Wholesale Price Index, known as WPI, holds significant importance as it gauges the price shifts of goods traded and distributed in large quantities by wholesale enterprises to other businesses.
- In August, the wholesale inflation rate plunged to -0.52 percent, marking the fifth consecutive month in which it remained in negative territory. It’s worth noting that in July, the wholesale inflation rate stood at -1.36 percent, and in June, it had plummeted to as low as -4.12 percent.
- The government attributed this sustained negative inflation rate to several factors, including the decrease in prices of mineral oils, basic metals, chemical and chemical products, textiles, and food products compared to the corresponding month of the previous year.
Q8.Fitch, a global credit rating agency, has retained India’s growth forecast for FY24 at what percentage?
- Fitch Ratings has chosen to uphold its growth forecast for India in the fiscal year 2023-24 (FY24) at 6.3%. Despite encountering challenges such as a more stringent monetary policy and weakened exports, India’s economy has demonstrated notable resilience.
- A significant highlight is the robust growth rate of 7.8% witnessed in the April-June quarter, propelled by vigorous demand and a flourishing services sector. Fitch’s projections encompass a growth rate of 6.5% for the subsequent fiscal year (2024-25). However, the report raises apprehensions about inflation risks.
- Fitch has revised its year-end inflation estimate upward, pointing to the looming El Nino threat. It suggests that transient spikes in inflation, particularly in food prices, could influence consumers’ disposable income. While the impact of inflation on consumers may be short-lived, other underlying factors are exerting pressure on the Indian economy.
Q9.LIC recently presented a dividend cheque of ₹1,831 crore to the Finance Minister. What does this dividend represent?
1.Revenue from Premiums
Ans:-2) Investment Returns
- LIC Chairman Siddhartha Mohanty presented a significant dividend cheque of ₹1,831.09 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. This dividend represents the Centre’s share for the fiscal year 2022-23 and was officially approved by LIC’s shareholders during the Annual General Meeting held on August 22 of the same year.
- As of the end of June in the current year, the Indian government held an impressive equity stake of 96.5 percent in LIC, making it the majority shareholder. The final dividend declared for the fiscal year 2022-23 amounted to ₹3 per share, a decision ratified by LIC’s shareholders.
- Buoyed by a substantial increase in net investment income, LIC reported a remarkable surge in net profit for the first quarter ending on June 30, 2023, reaching ₹9,544 crore, compared to the previous year’s ₹683 crore.
Q10.Yes Bank has partnered with BriskPe for what purpose?
1. Launching a new credit card
2.Enabling seamless cross-border payments for MSMEs
3.Establishing a new branch in a foreign country
4.Providing education loans
Ans:-2) Enabling seamless cross-border payments for MSMEs
- In a notable collaboration, BriskPe, an innovative cross-border payments FinTech company, has joined forces with YES BANK to introduce “BriskPe A2A,” an advanced suite of solutions aimed at empowering exporters and importers.
- This strategic partnership signifies a significant stride in the realm of cross-border payments, presenting a seamless and effective platform for Indian businesses to navigate the intricacies of international trade and enhance their global competitiveness.
- A key highlight of this collaboration is the capability for BriskPe’s customers to effortlessly receive payments in over 36 foreign currencies, spanning across more than 180 countries. These funds can then be efficiently converted into Indian Rupees (INR) and settled directly into their local bank accounts in India within a single business day. This streamlined process is poised to offer a much-needed boost to Micro, Small, and Medium Enterprises (MSMEs) operating in the manufacturing and services sectors.