Daily Current Affairs November 05

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs November 05. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

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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November 05 | Daily Current Affairs 2024

Sports – Daily Current Affairs November 05

1. What format of cricket will Wriddhiman Saha continue to play in his final season before retiring?
A) Test matches
B) One Day Internationals
C) Twenty20 Internationals
D) Ranji Trophy
E) Indian Premier League
Answer: D) Ranji Trophy

Event:

• Wriddhiman Saha’s Retirement Announcement

Career Mandates and Objectives:

• Retirement Decision: Wriddhiman Saha has announced that the current Ranji Trophy season will be his final, marking his retirement from all forms of cricket.
• Bengal Representation: Saha expressed his intention to end his cricketing journey by representing Bengal one last time in the Ranji Trophy, highlighting his strong ties to his home team.

Career Highlights and Contributions:

• International Cricket:
  • Test Matches: 40 Tests, with 1,353 runs at an average of 29.41, including three centuries. Known for his resilience and adaptability as India’s Test wicketkeeper, especially in challenging conditions.
  • ODIs: Played 9 ODIs, scoring a total of 41 runs with an average of 13.67.
• IPL Contributions:
  • Total Matches: Played in 170 IPL games, scoring 2,934 runs at an average of 24.25 and a strike rate of 127.57.
  • Notable Performance: Scored an unbeaten 115 in the 2014 IPL final for Kings XI Punjab, achieving the first century in an IPL final.
• Career Role: Saha served as a backup to MS Dhoni in Tests, stepping up as India’s primary wicketkeeper post-Dhoni’s Test retirement.

Important Terms Explained:

• Ranji Trophy: India’s prestigious first-class cricket tournament featuring state teams, representing one of the oldest domestic cricket tournaments in the country.
• Indian Premier League (IPL): A high-profile T20 league in India known for showcasing both national and international players. Saha’s career was significantly highlighted by his memorable performances in this league.
• Test Cricket: The traditional and longest format of international cricket, which played a major role in Saha’s career.

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2. How many medals did Indian boxers win at the inaugural U-19 World Championships in Colorado, USA?
A) 10
B) 12
C) 15
D) 17
E) 20
Answer: D) 17

Event and Location:

• Inaugural U-19 World Boxing Championships: Indian boxers won a total of 17 medals at the U-19 World Championships held in Colorado, USA.
• Location: Colorado, USA

Mandates and Objectives:

• Indian Boxers’ Performance: The Indian team’s impressive performance included 4 golds, 6 silvers, and 7 bronzes. Female athletes excelled, earning 10 medals out of the 17.
• Standout Performances: Key gold medalists included Parthavi Grewal (65kg), Vanshika Goswami (+80kg), Krisha Verma (75kg), and Hemant Sangwan (90kg, men’s category).
• Training Support: A significant number of medalists were Khelo India Athletes (KIAs) and trainees from SAI’s National Centre of Excellence (NCOE), particularly from the Rohtak and Aurangabad centers.

Medal Highlights:

• Gold Medalists:
  • Parthavi Grewal (F65kg), Vanshika Goswami (F+80kg), Krisha Verma (F75kg), Hemant Sangwan (M90kg)
• Silver Medalists:
  • Nisha (F51kg), Supriya Devi Thokchom (F54kg), Kritika Wasan (F80kg), Chanchal Chaudhary (F48kg), Anjali Singh (F57kg), Vini (F60kg), Akansha Phalaswal (F70kg), Rahul Kundu (M75kg)
• Bronze Medalists:
  • Rishi Singh (M50kg), Krrish Pal (M55kg), Sumit (M70kg), Aryan (M85kg), Lakshay Rathi (M90+kg)

Important Terms Explained:

• Khelo India Athletes (KIAs): Athletes under the Khelo India initiative aimed at promoting sports and identifying young talent in India.
• SAI National Centre of Excellence (NCOE): High-performance sports training centers under Sports Authority of India focusing on nurturing athletes in various sports disciplines.

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Ranking – Daily Current Affairs November 05

3. According to the October 2024 Henley Passport Index, where does India rank in terms of passport power?
A) 8th
B) 10th
C) 20th
D) 83rd
E) 100th
Answer: D) 83rd

Event:

• Henley Passport Index 2024 Ranking: The October 2024 Henley Passport Index ranks passports based on the number of countries their holders can access visa-free.

Key Rankings:

• Top Rank: Singapore holds the top position with visa-free access to 195 countries, making it the world’s most powerful passport.
• Second Place: France, Germany, Italy, Japan, and Spain share the second spot, allowing access to 192 countries.
• United States: The U.S. ranks 8th, with visa-free access to 186 countries.
• India: India ranks 83rd, enabling Indian passport holders to visit 58 countries without a visa.

Important Terms Explained:

• Henley Passport Index: A global passport ranking system measuring the strength of passports based on the visa-free or visa-on-arrival access they provide to other countries.
• Visa-Free Access: The ability to enter a country without needing to obtain a visa beforehand, often subject to certain conditions like a maximum duration of stay.

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Business and Economy – Daily Current Affairs November 05

4. Which Indian company became the first oil & gas company to join UNEP’s OGMP 2.0 initiative?
A) Reliance Industries
B) Cairn Oil & Gas
C) Bharat Petroleum
D) ONGC
E) Indian Oil Corporation
Answer: B) Cairn Oil & Gas

Event and Location:

• Cairn Oil & Gas, a subsidiary of Vedanta Group, has become the first Indian oil and gas company to join the United Nations Environment Programme’s (UNEP) OGMP 2.0 initiative.
• Location: India

Mandates and Objectives:

• OGMP 2.0 Partnership: Cairn’s participation in UNEP’s Oil & Gas Methane Partnership (OGMP) 2.0 commits the company to effective methane emissions management, focusing on measurement, reporting, and verification (MRV) to drive accurate methane reductions.
• 5-Year Target for Methane Reduction: Under its MoU with OGMP 2.0, Cairn has committed to setting a 5-year methane reduction goal and will transparently report its progress toward achieving these targets.
• Net Zero Goal by 2030: Cairn aims to become Net Zero Carbon by 2030, aligning with international goals for methane reduction outlined in the Paris Agreement and Global Methane Pledge.

Important Terms Explained:

• OGMP 2.0 (Oil & Gas Methane Partnership): A UNEP-led initiative providing a framework for oil and gas companies to measure, report, and verify methane emissions reductions. The partnership supports the Paris Agreement goals and aligns with the Global Methane Pledge to cut methane emissions by 30% by 2030.
• Global Methane Pledge: An international commitment by over 150 countries to reduce methane emissions by 30% by 2030, contributing to global climate goals.
• Paris Agreement: An international treaty on climate change aimed at reducing global greenhouse gas emissions and limiting global warming to below 2°C, preferably 1.5°C, compared to pre-industrial levels.

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5. What is the primary focus of the new Joint Venture Company (JVC) formed by NTPC and ONGC?
A) Fossil fuel exploration
B) Renewable energy and new energy opportunities
C) Coal and thermal power generation
D) Natural gas distribution
E) Nuclear energy
Answer: B) Renewable energy and new energy opportunities

Event and Location:

• Formation of Joint Venture Company (JVC): NTPC and ONGC have collaborated to form a 50:50 Joint Venture Company through their subsidiaries, NTPC Green Energy Ltd. (NGEL) and ONGC Green Energy Ltd. (OGL), aimed at expanding renewable energy ventures.
• Location: India, particularly focusing on renewable projects in Tamil Nadu and Gujarat.

Mandates and Objectives:

• Scope of the New JV: The joint venture will pursue diverse renewable and new energy sectors, including:
  • Solar and Wind Power: Both onshore and offshore wind projects.
  • Energy Storage: Initiatives like pumped hydro and battery storage solutions.
  • Green Molecules Production: Green hydrogen, green ammonia, sustainable aviation fuel, and green methanol.
  • E-mobility and Carbon Credits: Development in electric mobility and trading of carbon and green credits.
  • Renewable Assets Acquisition: The JVC aims to acquire renewable energy assets and participate in offshore wind tenders in Tamil Nadu and Gujarat.
• Objective: This collaboration supports India’s energy transition to sustainable sources by leveraging the combined expertise of NTPC and ONGC to drive innovation in the renewable energy sector.

Important Terms Explained:

• Green Hydrogen: Hydrogen produced using renewable energy (like solar or wind power) to reduce carbon emissions.
• Green Ammonia: Ammonia produced from green hydrogen, used as an energy carrier or fuel.
• Carbon Credits: Permits representing a reduction in greenhouse gas emissions, which can be traded to meet emission targets.
• Pumped Hydro Storage: A form of energy storage that uses water stored at height and released to generate electricity when needed.

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6. Which company has Bandhan Group acquired to enter the IT services industry?
A) Infosys
B) Wipro
C) Genisys Group
D) TCS
E) HCL Technologies
Answer: C) Genisys Group

Event and Location:

• Bandhan Group Acquires Genisys Group: Bandhan Group (Bandhan Financial Services Ltd) announced its entry into the Information Technology (IT) services sector through the acquisition of Genisys Group. This acquisition marks Bandhan Group’s diversification into digital and IT services.

Objective:

• Expansion into IT Services: By acquiring Genisys Group, Bandhan Group aims to build an integrated IT services portfolio, including digital transformation, data analytics, cloud services, digital media operations, and business process outsourcing (BPO), catering to various industries globally.

Key Service Areas of Genisys Group:

• Digital Application Lifecycle Management: Managing and optimizing digital applications through their entire lifecycle.
• Cloud Native Solutions: Services that help businesses in cloud migration and cloud-native development.
• Data Management: Solutions for data storage, analysis, and governance.
• Digital Media Operations: Services for managing digital media and content.
• Business Process Outsourcing (BPO): Outsourcing services for managing business processes across industries.

Important Terms Explained:

• Hyper-Automation: The use of advanced technologies, including AI and machine learning, to automate processes at scale.
• Cloud Computing: Internet-based computing that provides shared processing resources and data to computers and other devices on demand.
• NBFC-NDSI-CIC: Non-Banking Financial Company – Non-Deposit Taking Systemically Important Core Investment Company. These companies primarily engage in investment activities and hold assets across various sectors.

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Acquisitions and Mergers – Daily Current Affairs November 05

7. How much is L&T investing to acquire a 21% stake in E2E Networks?
A) ₹327.75 crore
B) ₹1,079.27 crore
C) ₹1,407 crore
D) ₹420.51 crore
E) ₹3,136 crore
Answer: C) ₹1,407 crore

Event and Location:

• L&T’s Investment in E2E Networks: Larsen & Toubro (L&T) announced the acquisition of a 21% stake in E2E Networks, a cloud services company based in Delhi, for approximately ₹1,407 crore. The transaction is expected to conclude by December 31, 2024.

Investment Breakdown:

• Acquisition Structure: The ₹1,407 crore investment is divided into two stages:
  • Stage 1: L&T will invest ₹1,079.27 crore to acquire a 15% stake through a preferential allotment.
  • Stage 2: L&T will purchase an additional 6% stake for ₹327.75 crore via secondary acquisition.

Purpose and Strategic Impact:

• L&T’s Strategic Goals: This acquisition will enable L&T to leverage E2E Networks’ expertise in AI and cloud solutions, particularly in high-demand cloud infrastructure.
• AI and Cloud Focus: E2E Networks is known for its AI-First Cloud Platform and provides resources for CPU and GPU computing, supporting machine learning and AI-driven applications.

Important Terms Explained:

• Preferential Allotment: A process by which a company issues shares to a selected group of investors at a specified price.
• Secondary Acquisition: Purchase of shares from existing shareholders rather than through direct issuance from the company, often used for consolidating strategic stakeholding.

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8. What percentage stake has IHCL acquired in Tree of Life Resorts’ operating company, Rajscape Hotel Private Ltd?
A) 100%
B) 55%
C) 25%
D) 70%
E) 45%
Answer: B) 55%

Event and Location:

• IHCL’s Acquisition of Tree of Life Resorts: Indian Hotels Company Limited (IHCL), India’s largest hospitality company, announced it has acquired a 55% stake in Rajscape Hotel Private Ltd, the company behind Tree of Life Resorts and Hotels. This acquisition aligns with IHCL’s strategy to expand its “experiential leisure” portfolio.
• Location: Mumbai, India

Mandates and Objectives:

• Strategic Purpose: The acquisition of Tree of Life allows IHCL to cater to the growing demand for boutique and experiential leisure properties. IHCL plans to expand Tree of Life from its current 19 properties to 100 by 2030, focusing on unique, intimate settings that appeal to travelers seeking authentic, off-the-beaten-path experiences.
• Partnership Structure: Post-acquisition, IHCL holds a majority stake of 55%, while the remaining 45% is retained by Ambuja Neotia, a real estate developer.

Key Features of Tree of Life Properties:

• Boutique and Intimate: The Tree of Life brand features small, boutique properties with typically 10-20 rooms in unique locations such as Varanasi, Kumaon, and Dared. These properties are designed to create a homely, immersive experience for guests.

Important Terms Explained:

• Experiential Leisure: A hospitality trend focusing on providing unique, intimate, and culturally immersive experiences for guests, often in smaller properties with distinctive architecture.
• Boutique Properties: Small-scale, personalized hotels that offer unique experiences, often in scenic or culturally significant locations.

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Defence – Daily Current Affairs November 05

9. Where is the 5th edition of the India-Vietnam joint military exercise “VINBAX 2024” being held?
A) New Delhi
B) Hanoi
C) Ambala and Chandimandir
D) Chennai
E) Ho Chi Minh City
Answer: C) Ambala and Chandimandir

Event and Location:

• Military Exercise VINBAX 2024: The 5th edition of the Vietnam-India Bilateral Army Exercise (VINBAX 2024) commenced on November 4, 2024, and is being conducted at Ambala and Chandimandir in India.
• Location: Ambala and Chandimandir, Haryana, India

Mandates and Objectives:

• Objective of VINBAX 2024: The exercise aims to enhance the joint military capabilities of India and Vietnam through collaboration in engineering and medical team operations, specifically for United Nations Peacekeeping Operations.
• Bilateral Participation: This edition marks the first bi-service participation, with personnel from both the Indian Army and Air Force and the Vietnam People’s Army.
• Training Focus: The training includes engineering and humanitarian assistance tasks under scenarios that simulate UN peacekeeping missions, along with a 48-hour validation exercise demonstrating humanitarian assistance & disaster relief (HADR) skills.

Important Terms Explained:

• VINBAX: A bilateral military exercise between India and Vietnam designed to strengthen defense cooperation, mutual confidence, and interoperability between the two countries’ armed forces.
• United Nations Peacekeeping Operations: Missions undertaken by the UN to maintain peace and security in regions experiencing conflict, guided by Chapter VII of the UN Charter, which allows peacekeeping forces to take necessary actions to restore peace.
• Chapter VII of the United Nations Charter: Authorizes the UN to use force to maintain or restore international peace and security in cases of aggression.

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10. During his visit to Algeria, what key agreement did CDS General Anil Chauhan sign with Algeria?
A) Trade and Investment Agreement
B) Defence Cooperation Memorandum
C) Space Science Collaboration
D) Education Exchange Program
E) Technology Development Pact
Answer: B) Defence Cooperation Memorandum

Event and Location:

• India-Algeria Defence Cooperation: Chief of Defence Staff (CDS) General Anil Chauhan led an Indian military delegation to Algeria from October 31 to November 3, 2024, where he signed a Defence Cooperation Memorandum with General Said Chanegriha, the Chief of Staff of the Algerian People’s National Army.
• Location: Algiers, Algeria

Mandates and Objectives:

• Objective of the Agreement: The memorandum aims to enhance military cooperation between India and Algeria, promoting long-term collaboration in defence, security, and mutual support in multilateral domains.
• Key Focus Areas: The agreement encompasses cooperation in defence production, space sciences, and technology exchange under India’s ‘Make in India’ and ‘Make for the World’ initiatives.
• Strengthening Diplomatic Ties: This visit and agreement align with broader efforts to deepen ties across trade, technology, education, and defence between India and Algeria.

Important Terms Explained:

• Make in India: A government initiative to encourage local manufacturing and boost India’s self-reliance in various sectors, including defence.
• Vishwa-Bandhu: A Sanskrit term meaning “friend of the world,” symbolizing India’s commitment to global partnerships and peace.
• People’s National Army of Algeria: The military wing of Algeria, working to protect national security and sovereignty, with whom India will collaborate through this memorandum.

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11. Where was the keel-laying ceremony for the first and second Next Generation Offshore Patrol Vessels (NGOPV) held?
A) Goa Shipyard, Goa
B) Cochin Shipyard, Kochi
C) Garden Reach Shipbuilders & Engineers Ltd, Kolkata
D) Hindustan Shipyard, Visakhapatnam
E) Mazagon Dock Shipbuilders, Mumbai
Answer: C) Garden Reach Shipbuilders & Engineers Ltd, Kolkata

Event and Location:

• Keel-Laying Ceremony for NGOPVs: The keel-laying ceremony for the first and second Next Generation Offshore Patrol Vessels (NGOPV), identified as Yard 3037 and Yard 3038, took place at Garden Reach Shipbuilders & Engineers Ltd (GRSE) in Kolkata on November 5, 2024.
• Location: GRSE, Kolkata, West Bengal

Mandates and Objectives:

• Objective of NGOPVs: These patrol vessels, with a tonnage of approximately 3000T, are designed for coastal defense, search and rescue, anti-piracy missions, and the protection of offshore assets.
• Indigenous Manufacturing Contract: The contract to construct 11 NGOPVs was signed in March 2023 between the Ministry of Defence (MoD) and Goa Shipyard Ltd (GSL), which will build 7 vessels, and GRSE for 4 vessels. This initiative supports the Aatmanirbhar Bharat and Make in India programs aimed at enhancing India’s self-reliance in defense manufacturing.

Important Terms Explained:

• Keel-Laying Ceremony: A traditional shipbuilding milestone where the keel, or backbone of a ship, is laid, marking the official start of a vessel’s construction.
• Next Generation Offshore Patrol Vessel (NGOPV): A class of patrol vessels designed with advanced capabilities for coastal security, search and rescue, anti-piracy, and protection of maritime assets.
• Aatmanirbhar Bharat (Self-Reliant India): A vision to make India self-sufficient in various sectors, including defense manufacturing, by promoting domestic production.

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International Affairs – Daily Current Affairs November 05

12. Which Australian city recently saw the inauguration of a new Indian consulate by EAM S Jaishankar?
A) Sydney
B) Melbourne
C) Brisbane
D) Perth
E) Adelaide
Answer: C) Brisbane

Event and Location:

• Inauguration of India’s New Consulate: External Affairs Minister S. Jaishankar inaugurated India’s new consulate in Brisbane, Australia, marking a milestone in the India-Australia bilateral relationship.
• Location: Brisbane, Queensland, Australia

Mandates and Objectives:

• Enhanced Bilateral Ties: Under the leadership of Prime Ministers Narendra Modi and Anthony Albanese, India and Australia have deepened their cooperation through trade, diplomatic exchanges, and community ties.
• Economic and Trade Relations: The Economic Cooperation and Trade Agreement (ECTA) has been instrumental in expanding trade, with Queensland being a major contributor to exports from Australia to India.
• Consulate Services: The new consulate in Brisbane, headed by Consul General Neetu Bhagotia, will serve the Indian diaspora in Queensland and focus on advancing ties in economy, education, and research.

Key Contributions and Bilateral Engagements:

• Indian Diaspora in Queensland: Nearly 100,000 people of Indian-origin reside in Queensland, contributing significantly to sectors like academia, research, and business.
• Increased Trade: Two-way trade between India and Australia grew by 41% from 2021 to 2022, reaching $31.4 billion.
• HADR and QUAD Cooperation: During his visit, Jaishankar highlighted humanitarian assistance and disaster relief (HADR) initiatives, notably Australia’s support in the Indo-Pacific region.

Important Terms Explained:

• Economic Cooperation and Trade Agreement (ECTA): A trade agreement between India and Australia that opens up opportunities for trade in goods and services, aiming to reduce tariffs and enhance market access.
• QUAD (Quadrilateral Security Dialogue): A strategic alliance between the United States, India, Japan, and Australia, focusing on cooperation in security, economy, technology, and disaster relief in the Indo-Pacific.
• Humanitarian Assistance and Disaster Relief (HADR): Efforts to provide aid and support during natural disasters or crises, particularly significant in the Indo-Pacific region.

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13. What is the focus of the India Pavilion at the World Travel Market (WTM) 2024 in London?
A) Adventure Tourism and Ecotourism
B) MICE, Mahakumbh, and Wedding Tourism
C) Spiritual and Wellness Tourism
D) Heritage and Cultural Tourism
E) Wildlife and Rural Tourism
Answer: B) MICE, Mahakumbh, and Wedding Tourism

Event and Location:

• World Travel Market (WTM) 2024 Participation: The Ministry of Tourism, Government of India is participating in the World Travel Market (WTM) held in London from November 5-7, 2024. This event is a key platform for India to promote its tourism offerings on a global stage.
• Location: Excel London, United Kingdom

Mandates and Objectives:

• Primary Focus of India Pavilion: The India Pavilion highlights MICE (Meetings, Incentives, Conferences, and Exhibitions), Mahakumbh, and Wedding Tourism as the central themes, showcasing India’s diverse tourism products.
• Chalo India Initiative: A campaign launched by Prime Minister Narendra Modi to engage the Indian diaspora in promoting India’s tourism by inviting non-Indian friends to experience India, supported by gratis e-visa for referred guests.
• Incredible India Content Hub: Recently launched to serve as a comprehensive digital repository for a range of stakeholders, enhancing the promotion of India’s tourism.

Additional Participants:

• India Pavilion Delegation: Nearly 50 stakeholders from India, including State Tourism Departments (e.g., Goa, Kerala, Tamil Nadu), IRCTC, airlines, and resorts, are present to connect with potential partners and clients.

Important Terms Explained:

• MICE (Meetings, Incentives, Conferences, Exhibitions): A tourism category focused on business events, attracting global conference and exhibition participants to India.
• Mahakumbh: A grand Hindu festival celebrated in cycles, attracting millions of pilgrims and tourists for spiritual tourism.
• Chalo India Initiative: An initiative aimed at mobilizing the Indian diaspora to promote Indian tourism, supported by incentives like free e-visas for invited foreign guests.

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National Affairs – Daily Current Affairs November 05

14. What is the primary objective of the newly launched ‘TULIP’ platform?
A) Promote tourism in rural areas
B) Provide artisans with global exposure and an e-marketplace
C) Offer training programs for artisans
D) Enhance agricultural productivity
E) Organize traditional cultural festivals
Answer: B) Provide artisans with global exposure and an e-marketplace

Event and Location:

• Inauguration of Shilp Samagam Mela 2024 and Launch of TULIP Platform: Union Minister Dr. Virendra Kumar inaugurated the Shilp Samagam Mela 2024 at Dilli Haat, New Delhi and launched the TULIP (Traditional Artisans’ Upliftment Livelihood Programme) digital platform.
• Location: Dilli Haat, New Delhi

Mandates and Objectives:

• Objective of TULIP: TULIP aims to empower marginalized artisans, including those from Scheduled Castes (SC), Other Backward Classes (OBC), sanitation workers, and persons with disabilities. It offers them global exposure and a digital e-marketplace to sell their products, enhancing economic self-reliance.
• Crafts Showcased: The Shilp Samagam Mela features a variety of traditional Indian handicrafts, including metal crafts, pottery, handloom items, leather goods, jewelry, and textiles from artisans representing 16 states across 105 stalls.
• Supporting Initiatives: Dr. Virendra Kumar highlighted digital initiatives like the PM-SURAKSHA and PM-DAKSH Portals to assist artisans with subsidized loans and skill development training.

Important Terms Explained:

• TULIP Platform: A digital platform under the Ministry of Social Justice and Empowerment, designed to empower marginalized artisans by providing them an e-commerce platform for direct sales and global visibility.
• PM-DAKSH Portal: An online platform providing skill development and training opportunities to targeted groups, enhancing their employability and income-generating capabilities.
• Shilp Samagam Mela: A fair showcasing diverse traditional Indian handicrafts and promoting local artisans, enhancing visibility for India’s rich heritage in crafts.

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15. At what price per kg is Bharat Atta being made available to consumers in Phase-II of the retail sale initiative?
A) Rs. 20
B) Rs. 25
C) Rs. 30
D) Rs. 34
E) Rs. 40
Answer: C) Rs. 30

Event and Location:

• Launch of Phase-II Retail Sale of Bharat Atta and Bharat Rice: Union Minister Shri Pralhad Joshi inaugurated Phase-II of the retail sale of Bharat Atta and Bharat Rice as part of the government’s commitment to making essential food items available at subsidized prices.
• Location: New Delhi

Mandates and Objectives:

• Objective of the Initiative: Phase-II aims to ensure the availability of Bharat Atta at Rs. 30 per kg and Bharat Rice at Rs. 34 per kg to consumers, aiding in maintaining a stable price regime for essential food items.
• Distribution Points: Consumers can access Bharat Atta and Bharat Rice through Kendriya Bhandar, NAFED, NCCF, and e-commerce or large retail stores. Products are sold in 5 kg and 10 kg bags.
• Initial Stock for Phase-II: A total of 3.69 Lakh Metric Tons (LMT) of wheat and 2.91 LMT of rice has been allocated for retail sale under Phase-II.

Key Figures from Phase-I:

• Phase-I Distribution: Approximately 15.20 LMT of Bharat Atta and 14.58 LMT of Bharat Rice were sold to general consumers at subsidized prices.

Important Terms Explained:

• MRP (Maximum Retail Price): The highest price at which a product can be sold to consumers. Bharat Atta and Bharat Rice are priced at Rs. 30 and Rs. 34 per kg, respectively, to ensure affordability.
• MSP (Minimum Support Price): The price at which the government purchases paddy from farmers to ensure they receive fair compensation. The MSP for Grade ‘A’ paddy is Rs. 2320 per quintal for the KMS 2024-25.

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16. What is the main purpose of the Indo-Kazakh Joint Venture Company (IREUK Titanium Limited) established by IREL and UKTMP JSC?
A) Production of Titanium alloys for aerospace
B) Extraction of Ilmenite from Kazakh mines
C) Production of Titanium Slag in India
D) Manufacturing of Titanium-based medical implants
E) Development of nuclear energy resources
Answer: C) Production of Titanium Slag in India

Event and Location:

• Agreement for Indo-Kazakh Joint Venture (IREUK Titanium Limited): IREL (India) Limited and Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC), Kazakhstan, have signed an agreement to establish a joint venture company named IREUK Titanium Limited for the production of Titanium Slag in India.
• Location: Odisha, India

Mandates and Objectives:

• Objective of IREUK Titanium Limited: The primary purpose of this joint venture is to beneficiate low-grade Ilmenite into high-grade Titanium Feedstock by producing Titanium Slag, a key raw material for titanium production. This initiative aligns with Aatmanirbhar Bharat by reducing reliance on titanium imports and enhancing the titanium value chain within India.
• Employment and Economic Impact: The project will generate employment in Odisha and secure forex earnings for India through the export of processed titanium feedstock to UKTMP JSC.
• Technological Synergy: While IREL will provide the Ilmenite from Odisha, UKTMP JSC will contribute the technology and will off-take the Ti Slag for further processing in their titanium sponge plant.

Important Terms Explained:

• Titanium Slag: A high-grade material derived from Ilmenite, which is used to produce titanium metal, widely utilized in aerospace, medical, and industrial applications.
• Ilmenite: A mineral rich in titanium and iron, typically processed to produce titanium feedstock.
• Aatmanirbhar Bharat: India’s self-reliance initiative aiming to promote domestic production across strategic sectors, including defense and rare materials.

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