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July 24 | Daily Current Affairs 2024

Sports – Daily Current Affairs July 24

1. What is the primary goal of the ‘Play Sports’ initiative?
A) To improve India’s tourism sector
B) To develop sports infrastructure in rural areas
C) To create a sustainable sports ecosystem in India
D) To promote cricket at the grassroots level
E) To organize national level sports events
Answer: C) To create a sustainable sports ecosystem in India

Event and Location:

• Event: Sania Mirza, Mary Kom, and Rannvijay Singha join Play Sports as brand ambassadors
• Location: India (initial focus on Delhi NCR and Jaipur)

Mandates and Objectives:

• Objective:
  • Create a sustainable sports ecosystem in India.
• Key Players:
  • Sania Mirza: Six-time Grand Slam winner, former World No. 1 in women’s doubles.
  • Mary Kom: Six-time World Champion, Olympic bronze medallist.
  • Rannvijay Singha: TV host and actor.
• Expected Outcomes:
  • Develop sports curriculum for schools.
  • Improve sports infrastructure and training facilities.
  • Upgrade existing sports infrastructure and develop new playgrounds.
  • Scout talent from grassroots and provide training and equipment support.
  • Prepare the next batch of Olympians for the 2036 Olympics.

Important Terms Explained:

• Play Sports:
  • A grassroots sports activation program aimed at developing a sustainable sports ecosystem in India.
• 2036 Olympics:
  • An international multi-sport event that India aims to host, with a vision to prepare athletes from grassroots level.
• Padma Bhushan:
  • One of the highest civilian awards in India, awarded to Sania Mirza.
• Major Dhyan Chand Khel Ratna:
  • India’s highest sporting honor, also awarded to Sania Mirza.

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2. Which Formula 1 racer secured his first-ever F1 title at the Hungarian Grand Prix?
A) Lewis Hamilton
B) Lando Norris
C) Oscar Piastri
D) Sebastian Vettel
E) Max Verstappen
Answer: C) Oscar Piastri

Event and Location:

• Event: Oscar Piastri wins F1 Title at Hungarian Grand Prix
• Location: Hungarian Grand Prix, Hungary

Mandates and Objectives:

• Objective:
  • To report the outcome of the Hungarian Grand Prix.
• Key Players:
  • Oscar Piastri: Australian F1 racer, winner of the Hungarian Grand Prix.
  • Lando Norris: British-Belgian racer, finished second.
  • Lewis Hamilton: Secured third place, marking his 200th career podium.
• Expected Outcomes:
  • Highlight the dramatic events and team dynamics during the race.
  • Celebrate Piastri’s first-ever F1 title victory.

Important Terms Explained:

• Hungarian Grand Prix:
  • A motor race held annually in Hungary, part of the Formula 1 World Championship.
• Pit Stop Strategy:
  • The timing and execution of pit stops during a race, crucial for maintaining or gaining positions.
• Intra-Team Struggle:
  • Competition between teammates within the same racing team.

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Obituary – Daily Current Affairs July 24

3. When did C.T. Kurien pass away?
A) July 24, 2024
B) July 23, 2024
C) July 22, 2024
D) July 21, 2024
E) July 20, 2024
Answer: B) July 23, 2024

Event and Location:

• Event: Death of C.T. Kurien
• Location: Chennai, India

Mandates and Objectives:

• C.T. Kurien’s Work:
  • Focus on understanding and eradicating poverty.
  • Critical of mainstream Economics for lack of serious discussion on poverty.
  • Dedicated his career to higher studies and research in Economics.

Important Terms Explained:

• Economics:
  • The study of how societies use scarce resources to produce valuable commodities and distribute them among different people.
• Ph.D. from Stanford University:
  • Doctoral degree focused on ‘Factor Market Structure and Technological Characteristics of an Underdeveloped Country: An Indian Case Study’.

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Ranking – Daily Current Affairs July 24

4. Which country has the most powerful passport according to the 2024 Henley Passport Index?
A) Germany
B) France
C) Singapore
D) Japan
E) India
Answer: C) Singapore

Event and Location:

• Event: Release of the 2024 Henley Passport Index rankings
• Location: Global

Mandates and Objectives:

• Objective:
  • Assess and rank the power of national passports based on visa-free or visa-on-arrival access.
• Key Players:
  • Singapore: Topped the list with access to 195 countries.
  • India: Ranked 82nd, down from 80th the previous year.
  • Henley Passport Index: Compiled the rankings using data from the International Air Transport Association (IATA).
• Expected Outcomes:
  • Provide insights into global mobility and diplomatic relations.
  • Highlight trends in travel freedom and visa policies.

Important Terms Explained:

• Henley Passport Index:
  • A global ranking of countries according to the travel freedom their passports provide.
• Visa-Free Access:
  • The ability to enter a country without needing a visa.
• Visa-on-Arrival:
  • The ability to obtain a visa upon arrival in the destination country.

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Acquisitions and Mergers – Daily Current Affairs July 24

5. Which company did ACKO acquire to build a comprehensive healthcare ecosystem?
A) Urban Company
B) Oyo
C) redBus
D) OneCare
E) Zomato
Answer: D) OneCare

Event and Location:

• Event: ACKO acquires healthtech company OneCare
• Location: India

Mandates and Objectives:

• Objective:
  • To build a comprehensive healthcare ecosystem.
• Key Players:
  • ACKO: Insurtech unicorn acquiring OneCare.
  • OneCare: Digital chronic care management company.
  • Rakesh Shivran and Sagar Bhat: Co-founders of OneCare, joining ACKO’s leadership team.
• Expected Outcomes:
  • Integration of advanced wearables, data-driven insights, and accessible physical and virtual care.
  • Enhance ACKO’s offerings beyond insurance to include protection, prevention, care, and recovery.

Important Terms Explained:

• Insurtech:
  • Technology-driven innovation designed to maximize savings and efficiency in the insurance industry.
• Omnichannel Care Model:
  • A healthcare model combining physical and virtual care services.
• Embedded Insurance:
  • Insurance products integrated into the purchase of other goods and services.

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Appointments – Daily Current Affairs July 24

6. Who has been appointed as the new CEO and MD of Federal Bank?
A) Shyam Srinivasan
B) Manohar Lal
C) Nayab Singh Saini
D) Krishnan Venkat Subramanian
E) Rannvijay Singha
Answer: D) Krishnan Venkat Subramanian

Event and Location:

• Event: Appointment of new CEO & MD of Federal Bank
• Location: India

Mandates and Objectives:

• Objective:
  • To appoint Krishnan Venkat Subramanian as the new CEO & MD of Federal Bank.
• Key Players:
  • Krishnan Venkat Subramanian: Succeeding Shyam Srinivasan as CEO & MD.
  • Shyam Srinivasan: Current CEO & MD, tenure ending on September 22, 2024.
  • Reserve Bank of India (RBI): Approved the appointment.
• Expected Outcomes:
  • Subramanian’s term will be for three years starting from September 23, 2024.
  • Ensure continuity and leadership transition in Federal Bank.

Important Terms Explained:

• CEO (Chief Executive Officer):
  • The highest-ranking executive in a company, responsible for making major corporate decisions.
• MD (Managing Director):
  • An executive director responsible for the day-to-day operations of the company.
• RBI (Reserve Bank of India):
  • The central bank of India, which regulates the issue and supply of the Indian rupee and oversees the Indian banking system.

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7. Who has been elected as the new President of ICMAI for the year 2024-2025?
A) Shyam Srinivasan
B) Nayab Singh Saini
C) Manohar Lal
D) Bibhuti Bhusan Nayak
E) Rannvijay Singha
Answer: D) Bibhuti Bhusan Nayak

Event and Location:

• Event: Election of the new President of ICMAI
• Location: Bhubaneswar, Odisha, India

Mandates and Objectives:

• Objective:
  • To elect the 67th President of the Institute of Cost Accountants of India (ICMAI).
• Key Players:
  • Bibhuti Bhusan Nayak: Elected as the new President.
  • ICMAI Community: Extends congratulations to the new President.
• Expected Outcomes:
  • Leadership by an experienced professional with over 30 years of experience.
  • Enhance the visibility and impact of the ICMAI.

Important Terms Explained:

• ICMAI (Institute of Cost Accountants of India):
  • A professional organization dedicated to the promotion and regulation of cost accountancy in India.
• Fellow Member:
  • A designation for experienced and distinguished members of a professional body.
• DGM (Finance):
  • Deputy General Manager in the finance department, a senior-level position in a company.

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Defence – Daily Current Affairs July 24

8. What is the range capability of the Phase-II Ballistic Missile Defence (BMD) system successfully tested by DRDO?
A) 2,000 km
B) 3,000 km
C) 4,000 km
D) 5,000 km
E) 6,000 km
Answer: D) 5,000 km

Event and Location:

• Event: Successful flight-test of Phase-II Ballistic Missile Defence System
• Location: Integrated Test Range (ITR), Chandipur, Odisha, India

Mandates and Objectives:

• Objective:
  • To demonstrate the capability of defending against ballistic missiles of the 5,000 km class.
• Key Players:
  • DRDO (Defence Research & Development Organisation): Conducted the test.
  • Defence Minister Rajnath Singh: Complimented DRDO for the successful test.
• Expected Outcomes:
  • Validate the complete network-centric warfare weapon system.
  • Enhance India’s missile defense capabilities.

Important Terms Explained:

• Ballistic Missile Defence (BMD) System:
  • A system designed to detect, track, and intercept incoming ballistic missiles.
• Phase-II BMD System:
  • Capable of defending against ballistic missiles with a range of up to 5,000 km.
• Endo-atmospheric Missile:
  • A missile designed to operate within the Earth’s atmosphere to intercept and neutralize incoming threats.
• Network-Centric Warfare:
  • A military doctrine or theory of war that seeks to translate an information advantage into a competitive warfighting advantage.

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National Affairs – Daily Current Affairs July 24

9. What is the estimated cost of each green charcoal plant to be set up in Gurugram and Faridabad?
A) 400 crore rupees
B) 450 crore rupees
C) 500 crore rupees
D) 550 crore rupees
E) 600 crore rupees
Answer: C) 500 crore rupees

Event and Location:

• Event: Signing of MoU to set up green charcoal plants
• Location: Faridabad and Gurugram, Haryana, India

Mandates and Objectives:

• Objective:
  • To set up plants to produce green charcoal from waste.
• Key Players:
  • NTPC Vidyut Vyapar Nigam Limited: Subsidiary of National Thermal Power Corporation Limited.
  • Gurugram and Faridabad Municipal Corporations: Partners in the MoU.
• Expected Outcomes:
  • Conversion of 1,500 tonnes of daily waste into charcoal.
  • Provide a permanent solution to the garbage problem.
  • Increase energy production.

Important Terms Explained:

• MoU (Memorandum of Understanding):
  • A formal agreement between two or more parties.
• Green Charcoal:
  • Charcoal produced from waste, considered environmentally friendly.
• Atmanirbhar Bharat Abhiyan:
  • A self-reliant India campaign aimed at making India self-sufficient in various sectors.

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