Daily Current Affairs July 31

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Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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July 31 | Daily Current Affairs 2024

Sports – Daily Current Affairs July 31

1. Which Indian badminton player recently announced her retirement after the Paris 2024 Olympics?
A) Saina Nehwal
B) PV Sindhu
C) Tanisha Crasto
D) Jwala Gutta
E) Ashwini Ponnappa
Answer: E) Ashwini Ponnappa

Event and Location:

• Event: Ashwini Ponnappa announces retirement after Paris 2024 Olympics.
• Location: Paris, France.

Mandates and Objectives:

• Retirement Announcement: Ashwini Ponnappa announced her retirement from the Olympics after competing in Paris 2024.
• Match Outcome: Ashwini Ponnappa and her partner Tanisha Crasto lost all their group matches in the women’s doubles competition at the Paris 2024 Olympics.
• Career Highlights: Ponnappa has been a significant figure in Indian badminton, with numerous international medals, including a World Championship bronze in 2011 with Jwala Gutta.

Important Terms Explained:

• Olympics: A global multi-sport event held every four years, featuring summer and winter sports competitions.
• Women’s Doubles: A badminton category where two female players team up to compete against another pair.

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2. Where has the Basketball Federation of India (BFI) set up the National Basketball Academy in collaboration with Corvuss American Academy?
A) New Delhi
B) Bengaluru
C) Mumbai
D) Chennai
E) Kolkata
Answer: C) Mumbai

Event and Location:

• Event: BFI sets up National Basketball Academy in collaboration with Corvuss American Academy.
• Location: Mumbai, Maharashtra.

Mandates and Objectives:

• Academy Overview:
  • The National Basketball Academy is established to nurture basketball talent across India.
  • The academy will initially start with 30 boys and 30 girls selected from a nationwide talent hunt.
• Training and Development:
  • The academy will offer training under the guidance of a foreign coach.
  • The partner institution, Corvuss American Academy, will provide a comprehensive academic program, nutritional support, sports counseling, and access to world-class facilities.
• Participation:
  • Players from the academy are allowed to represent their respective states in state and national championships.

Important Terms Explained:

• BFI (Basketball Federation of India): The governing body for basketball in India, responsible for the promotion and development of the sport.
• National Basketball Academy: An institution established to develop basketball talent in India, offering specialized training and education for selected players.

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Banking and Finance – Daily Current Affairs July 31

3. What is the name of the chatbot recently launched by SEBI for investors?
A) SAARTHI
B) SEVA
C) CHAT-SEBI
D) SARATHI
E) SEBI-CHAT
Answer: B) SEVA

Event and Location:

• Event: SEBI launches its Virtual Assistant (SEVA) chatbot for investors.
• Location: Available on SEBI’s investor website and the SAARTHI mobile app.

Mandates and Objectives:

• Purpose: SEVA is an Artificial Intelligence (AI)-based virtual assistant designed to assist investors by providing general information on the securities market, grievance redressal processes, and more.

Features:

• The chatbot includes:
  • Citations for generated responses
  • Speech-to-text and text-to-speech functionality for accessibility
  • Availability in Beta version on SEBI’s platforms

Important Terms Explained:

• SEBI: Securities and Exchange Board of India, the regulatory body for securities and commodity markets in India, established to protect the interests of investors and to regulate the securities market.
• AI (Artificial Intelligence): The simulation of human intelligence processes by machines, especially computer systems, used here to create an interactive chatbot.
• SEVA: SEBI’s newly launched Virtual Assistant for assisting investors in navigating the securities market.

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5. Which company received in-principle approval from the RBI to launch an Asset Reconstruction Company (ARC)?
A) Bajaj Finance
B) HDFC Bank
C) ICICI Bank
D) Shriram Capital
E) Kotak Mahindra Bank
Answer: D) Shriram Capital

Event and Location:

• Event: Shriram Capital receives in-principle approval from the RBI to launch an Asset Reconstruction Company (ARC).
• Location: Chennai, Tamil Nadu.

Mandates and Objectives:

• RBI Approval: Shriram Capital has received in-principle approval from the Reserve Bank of India (RBI) to establish an ARC.
• Operational Focus: The ARC will focus primarily on acquiring and managing retail loans, excluding microfinance loans.
• Next Steps: Shriram Capital plans to work on the business and operational aspects of the ARC over the next two quarters, and the ARC will be a 100% subsidiary of Shriram Capital.

Important Terms Explained:

• Asset Reconstruction Company (ARC): A specialized financial institution that buys the non-performing assets (NPAs) or bad loans from banks and financial institutions to help clean up their balance sheets.
• In-Principle Approval: A preliminary approval given by a regulatory authority, allowing a company to proceed with the necessary preparations to meet final approval requirements.

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6. Which public sector bank collected the highest amount from its customers for non-maintenance of minimum balance in FY24?
A) Bank of Baroda
B) Indian Bank
C) Punjab National Bank
D) Canara Bank
E) State Bank of India
Answer: C) Punjab National Bank

Event and Location:

• Event: 11 public sector banks in India charged a total of ₹2,331 crore for non-maintenance of minimum balance in FY24.
• Location: Nationwide, India.

Mandates and Objectives:

• Collection Overview:
  • 11 public sector banks collectively charged ₹2,331 crore from account holders for not maintaining the minimum balance in their savings accounts during FY24.
  • This amount represents a 25.63% increase compared to ₹1,855.43 crore in FY23.
• Top Collectors:
  • Punjab National Bank (PNB): Collected the highest amount, ₹633.4 crore.
  • Bank of Baroda: Collected ₹386.51 crore.
  • Indian Bank: Collected ₹369.16 crore.
• RBI Norms:
  • Banks must inform customers of the minimum balance requirements and any changes thereafter.
  • Banks are prohibited from letting accounts reach a negative balance solely due to penalties for non-maintenance of the minimum balance.
  • Customers should be notified of potential charges if the account balance is not replenished within a month after notice.

Important Terms Explained:

• Minimum Balance: The minimum amount that must be maintained in a savings account as per bank guidelines, failure to do so results in penalties.
• Public Sector Banks (PSBs): Banks where the majority stake is held by the government of India.

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Appointments – Daily Current Affairs July 31

7. Who is set to become the next President of the Asian Cricket Council (ACC)?
A) Jay Shah
B) Mohsin Naqvi
C) Sourav Ganguly
D) Ehsan Mani
E) Najam Sethi
Answer: B) Mohsin Naqvi

Event and Location:

• Event: Mohsin Naqvi is set to become the President of the Asian Cricket Council (ACC).
• Location: To be confirmed later this year at an ACC meeting.

Mandates and Objectives:

• Leadership Transition: Mohsin Naqvi, the current Chairman of the Pakistan Cricket Board (PCB), is expected to assume the role of ACC President later in 2024.
• Rotation Policy: This leadership change follows the ACC’s rotation policy, which ensures different member nations are represented at the organization’s helm.

Important Terms Explained:

• Asian Cricket Council (ACC): A regional cricket organization established to promote and develop the game of cricket in Asia.
• Rotation Policy: A system used by organizations like the ACC to ensure fair representation of various member nations in leadership positions.

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8. Which country was elected as the Vice-Chair of the Supply Chain Council under the Indo-Pacific Economic Framework (IPEF)?
A) Japan
B) Republic of Korea
C) India
D) Fiji
E) Australia
Answer: C) India

Event and Location:

• Event: India elected as Vice-Chair of the Supply Chain Council under the Indo-Pacific Economic Framework (IPEF).
• Location: Virtual meetings with in-person meeting planned in Washington, D.C., USA.

Mandates and Objectives:

• Supply Chain Resilience:
  • The Supply Chain Council is one of three bodies established under the IPEF to strengthen supply chain resilience in the Indo-Pacific region.
  • The Council focuses on targeted, action-oriented work to fortify supply chains critical to national security, public health, and economic well-being.
  • India, with its growing global production capacities, skilled workforce, and natural resources, is set to play a key role in this initiative.
• India’s Role:
  • India was elected as the Vice-Chair of the Supply Chain Council.
  • The Supply Chain Council’s first in-person meeting will take place in Washington, D.C., in September 2024.

Important Terms Explained:

• Indo-Pacific Economic Framework (IPEF): Launched on May 23, 2022, in Tokyo, Japan, the IPEF is an economic initiative aimed at strengthening economic cooperation and engagement among 14 partner countries in the Indo-Pacific region. It focuses on four pillars: Trade, Supply Chain Resilience, Clean Economy, and Fair Economy.
• Supply Chain Council: A body under the IPEF dedicated to strengthening and coordinating supply chain resilience among member nations.

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Awards – Daily Current Affairs July 31

9. Who was the recipient of the V Venkayya Epigraphy Award for 2024?
A) S. Swaminathan
B) V. Muralidharan
C) V. Vedachalam
D) Sunitha Madhavan
E) M. Srinath
Answer: C) V. Vedachalam

Event and Location:

• Event: V. Vedachalam receives V Venkayya Epigraphy Award 2024.
• Location: Arkay Convention Centre, Mylapore, Chennai.

Mandates and Objectives:

• Award Significance: The V Venkayya Epigraphy Award recognizes exceptional contributions to the field of epigraphy, particularly in discovering new inscriptions, interpreting epigraphic evidence, and preserving epigraphic resources.
• Recipient’s Contribution: Dr. V. Vedachalam, a renowned Tamil epigrapher and historian, has authored and co-authored over 25 books on various subjects, including epigraphy, numismatics, temple art, religion, and society.

Important Terms Explained:

• Epigraphy: The study of inscriptions or epigraphs as writing; it is the science of identifying graphemes, clarifying their meanings, classifying their uses according to dates and cultural contexts, and drawing conclusions about the writing and the writers.
• V Venkayya Epigraphy Award: An annual award instituted by Sunitha Madhavan, great-granddaughter of V. Venkayya, to honor significant contributions to epigraphy in any Indian language.

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10. How many medals did Indian students win at the 2024 International Physics and Chemistry Olympiads?
A) Five
B) Six
C) Seven
D) Eight
E) Nine
Answer: B) Six

Event and Location:

• Event: Indian students win six medals at the 2024 International Physics and Chemistry Olympiads.
• Locations:
  • International Physics Olympiad (IPhO): Isfahan, Iran (July 21 to July 29, 2024)
  • International Chemistry Olympiad (IChO): Riyadh, Saudi Arabia (July 21 to July 30, 2024)

Mandates and Objectives:

• Performance at IPhO: Indian students won two gold and three silver medals. India ranked fourth overall, tied with Vietnam.
• Performance at IChO: Indian students won one gold, two silver, and one bronze medal.

Important Terms Explained:

• International Physics Olympiad (IPhO): An annual physics competition for high school students from around the world, involving challenging theoretical and experimental problems.
• International Chemistry Olympiad (IChO): A similar annual competition for high school students focused on chemistry, also including both theoretical and experimental challenges.

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National Affairs – Daily Current Affairs July 31

11. What is the total financial outlay for the Project for Computerization of functional PACS?
A) ₹1,215 Crore
B) ₹2,516 Crore
C) ₹654.23 Crore
D) ₹6,542 Crore
E) ₹1,050 Crore
Answer: B) ₹2,516 Crore

Event and Location:

• Event: Government of India implements the Project for Computerization of functional Primary Agricultural Credit Societies (PACS).
• Location: Nationwide, involving multiple states and union territories across India.

Mandates and Objectives:

• Project Overview:
  • The project aims to computerize functional PACS across India with an ERP (Enterprise Resource Planning) based common national software.
  • This initiative involves a total financial outlay of ₹2,516 Crore.
  • As of July 21, 2024, 25,904 PACS have been onboarded onto the ERP software across 27 states/UTs.
• Model Byelaws:
  • The government has prepared Model Byelaws for PACS to diversify their business activities.
  • PACS can now engage in over 25 economic activities, such as dairy, fishery, godown setups, procurement of food grains, and more.
• ERP and CAS/MIS:
  • The ERP system improves efficiency in PACS by integrating Common Accounting System (CAS) and Management Information System (MIS).
  • This enhances transparency, accountability, and trustworthiness in PACS operations.

Important Terms Explained:

• PACS (Primary Agricultural Credit Societies): Grassroots-level cooperative credit institutions in India, providing credit facilities to farmers and functioning as multi-service centers at the Panchayat level.
• ERP (Enterprise Resource Planning): A software platform used to manage and automate core business processes.
• NABARD: National Bank for Agriculture and Rural Development, a key agency in the development of rural credit and agriculture in India.

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12. Where was the Second Edition of the Colombo Security Conclave Seminar on Cyber Security hosted in July 2024?
A) New Delhi
B) Colombo
C) Gandhinagar
D) Mumbai
E) Dhaka
Answer: C) Gandhinagar

Event and Location:

• Event: Second Edition of Colombo Security Conclave Seminar on Cyber Security.
• Location: National Forensics Science University (NFSU), Gandhinagar, Gujarat, India.
• Date: July 30-31, 2024.

Mandates and Objectives:

• Seminar Focus:
  • The seminar was centered on the “Exchange of Information on Legislations, Cyber Policies, and Incident Mitigation.”
  • Discussions included cyber security, protection of critical infrastructure, cybercrime response, and emerging technologies.
• Participants:
  • The seminar was attended by delegates from Colombo Security Conclave member and observer states, including Bangladesh, India, Maldives, Mauritius, Seychelles, Sri Lanka, and the Colombo Security Conclave Secretariat.
• Key Outcomes:
  • The seminar facilitated the exchange of cyber security policies and strategies among member states.
  • Participants discussed incident response, mitigation techniques, and digital forensics.
  • A consensus was reached to enhance regional cooperation on cyber security.

Important Terms Explained:

• Colombo Security Conclave: A regional security initiative focused on cooperation in areas such as maritime security, counter-terrorism, and cyber security among South Asian and Indian Ocean Region nations.
• Cyber Security: The practice of protecting systems, networks, and programs from digital attacks, ensuring the integrity, confidentiality, and availability of information.

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13. Under which scheme has the Government implemented the Cyber Crime Prevention against Women and Children (CCPWC) initiative?
A) Beti Bachao Beti Padhao
B) Digital India
C) Nirbhaya Fund
D) Swachh Bharat Abhiyan
E) Make in India
Answer: C) Nirbhaya Fund

Event and Location:

• Event: Implementation of Cyber Crime Prevention against Women and Children (CCPWC) under the Nirbhaya Fund.
• Location: Nationwide, India.

Mandates and Objectives:

• CCPWC Scheme:
  • The CCPWC initiative is aimed at combating cybercrimes, particularly those targeting women and children.
  • A National Cybercrime Reporting Portal (NCRP) has been launched to facilitate the reporting of cybercrimes, especially those involving women and children.
  • A toll-free helpline, 1930, is operational across all States and Union Territories (UTs).
• NCRP Usage:
  • NCRP has recorded over 16.18 Crore visitors.
  • More than 1.94 lakh complaints related to Child Pornography/Rape or Gang Rape (CP/RGR) have been reported as of April 30, 2024.
  • An MoU between India’s National Crime Records Bureau (NCRB) and the USA’s National Centre for Missing and Exploited Children (NCMEC) facilitates the sharing of Tip-line reports on online child sexual exploitation.
• Financial Support:
  • The Ministry of Home Affairs has disbursed ₹131.60 Crore to States/UTs, of which ₹105.30 Crore has been utilized.
  • ₹41.45 Crore has been allocated to Central agencies like NCRB and BPR&D, with 100% utilization of funds.
• Technological Initiatives:
  • Emergency Response Support System (ERSS)-112 operational in all States/UTs.
  • Safe City Projects in eight cities focusing on smart policing and safety infrastructure.
  • Integration of Women Helpline (WHL)-181 with ERSS in 35 States/UTs.
  • DNA analysis Centre and AI-based Facial Recognition Systems (FRS) in select locations.

Important Terms Explained:

• Nirbhaya Fund: A dedicated fund set up by the Government of India in 2013 to support initiatives aimed at enhancing the safety and security of women.
• Cyber Crime: Criminal activities carried out using computers or the internet, often targeting individuals or institutions online.
• National Cybercrime Reporting Portal (NCRP): An online platform for reporting cybercrimes, with a special focus on crimes against women and children.

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14. Which site from India was inscribed as the country’s 43rd UNESCO World Heritage Site during the 46th World Heritage Committee Meeting?
A) Kashi Vishwanath Corridor
B) Ram Temple, Ayodhya
C) Nalanda University
D) Charaideo Moidams
E) Taj Mahal
Answer: D) Charaideo Moidams

Event and Location:

• Event: India hosts the 46th World Heritage Committee (WHC) Meeting.
• Location: Bharat Mandapam, New Delhi, India.
• Date: July 21-31, 2024.

Mandates and Objectives:

• Historic Hosting: India hosted the 46th session of the World Heritage Committee Meeting for the first time, demonstrating its commitment to global heritage conservation.
• UNESCO Support: Prime Minister Narendra Modi announced a $1 million grant to the UNESCO World Heritage Centre to support global conservation efforts, particularly benefiting Global South countries.
• Moidams Inscription:
  • Charaideo Moidams: Inscribed as India’s 43rd UNESCO World Heritage Site. Moidams are sacred burial mounds of the Ahom dynasty, located in Charaideo, Assam.
  • Significance: This is the first cultural site from Assam to receive World Heritage recognition.
• Global Impact: The session saw the inscription of 24 new World Heritage Sites worldwide, including 19 cultural, 4 natural, and 1 mixed property.

Important Terms Explained:

• World Heritage Site: A landmark or area recognized by UNESCO for its cultural, historical, scientific, or other form of significance, legally protected by international treaties.
• UNESCO: The United Nations Educational, Scientific and Cultural Organization, responsible for promoting world peace and security through international cooperation in education, the arts, sciences, and culture.

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