Daily Current Affairs August 20

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 August 20. 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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August 20 | Daily Current Affairs 2024

Important Days – Daily Current Affairs August 20

1. What is the primary focus of World Humanitarian Day 2024?
A) Celebrating the achievements of humanitarian workers
B) Demanding stronger climate action
C) Confronting attacks on civilians and humanitarian workers and advocating for their protection
D) Promoting global education initiatives
E) Addressing global health crises
Answer: C) Confronting attacks on civilians and humanitarian workers and advocating for their protection

Event and Location:

• Event: World Humanitarian Day 2024
• Date: 19 August 2024

Mandates and Objectives:

• Primary Focus:
  • The 2024 World Humanitarian Day (WHD) campaign is centered on confronting the normalization of attacks on civilians, including humanitarian workers, and the impunity under International Humanitarian Law (IHL).
  • The campaign, themed #ActForHumanity, aims to build public support to pressure parties to conflict and world leaders to take action to ensure the protection of civilians and humanitarians in conflict zones.
• Background and Significance:
  • WHD was established in memory of the 22 humanitarian aid workers who were killed in a bomb attack on the Canal Hotel in Baghdad, Iraq, on 19 August 2003.
  • The United Nations General Assembly designated 19 August as World Humanitarian Day in 2008.
  • Each year, WHD highlights a theme that advocates for the survival, well-being, and dignity of people affected by crises, and the safety and security of aid workers.

Important Terms Explained:

• International Humanitarian Law (IHL): A set of rules that seek to limit the effects of armed conflict, protecting people who are not or no longer participating in hostilities and restricting the means and methods of warfare.
• #ActForHumanity: The 2024 campaign theme urging world leaders and parties to conflicts to take action to protect civilians and humanitarian workers from attacks.

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Obituary – Daily Current Affairs August 20

2. How did Indian Coast Guard Director-General Rakesh Pal pass away?
A) In a car accident
B) Due to a cardiac arrest
C) Following a prolonged illness
D) During a surgical procedure
E) From natural causes
Answer: B) Due to a cardiac arrest

Event and Location:

• Event: Death of Indian Coast Guard Director-General Rakesh Pal.
• Location: Chennai, Tamil Nadu, India

Details:

• Age and Position:
  • He was 59 years old and held the position of Director-General of the Indian Coast Guard, where he played a crucial role in strengthening India’s maritime security.

Important Terms Explained:

• Cardiac Arrest: A sudden loss of heart function, leading to a cessation of blood flow to vital organs.
• Angioplasty: A medical procedure used to open blocked coronary arteries and restore blood flow to the heart.

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Ranking – Daily Current Affairs August 20

3. What achievement did RBI Governor Shaktikanta Das receive in the Global Finance Central Banker Report Cards 2024?
A) Introduced a new monetary policy
B) Ranked as the top central banker for the second consecutive year with an A+ grade
C) Announced the highest interest rate cut in history
D) Launched a new digital currency
E) Led the largest bank merger in India
Answer: B) Ranked as the top central banker for the second consecutive year with an A+ grade

Event and Location:

• Event: RBI Governor Shaktikanta Das was ranked as the top central banker in the Global Finance Central Banker Report Cards 2024.
• Achievement: He earned an A+ grade for the second consecutive year, recognizing his exceptional performance as a central banker.

Significance:

• Recognition: The A+ grade indicates top-tier performance in managing monetary policy, maintaining economic stability, and responding effectively to financial challenges.
• Global Finance Central Banker Report Cards: This annual report ranks central bank governors based on their performance in areas such as inflation control, economic growth, and currency stability.

Important Terms Explained:

• RBI (Reserve Bank of India): The central banking institution of India, responsible for controlling the monetary policy of the Indian rupee.
• A+ Grade: The highest rating awarded in the Global Finance Central Banker Report Cards, reflecting outstanding performance in central banking.

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Banking and Finance – Daily Current Affairs August 20

4. What is the main significance of the merger between Slice and North East Small Finance Bank (NESFB)?
A) Expansion of Slice’s services into Europe
B) Introduction of cryptocurrency trading in India
C) Combining digital expertise with grassroots banking to enhance financial inclusivity
D) Launching a new line of credit cards
E) Focusing solely on corporate banking
Answer: C) Combining digital expertise with grassroots banking to enhance financial inclusivity

Event and Location:

• Event: Approval by the National Company Law Tribunal (NCLT) for the merger of Slice with North East Small Finance Bank (NESFB).
• Approval: The NCLT Guwahati bench has sanctioned the scheme of arrangement and amalgamation involving several entities, including Slice and NESFB.

Mandates and Objectives:

• Significance of the Merger:
  • The merger combines Slice’s digital capabilities with NESFB’s grassroots banking expertise, aiming to deliver a superior financial experience to Indian consumers.
  • The combined entity is expected to leverage advanced technology and community insights to promote financial inclusion across India.
  • Customers will benefit from an expanded range of financial products, improved omni-channel offerings, and a seamless banking experience.
• Impact on Financial Industry:
  • This merger represents a significant step toward advancing financial inclusivity in India by setting new industry benchmarks through innovative technological solutions.

Important Terms Explained:

• Financial Inclusion: The process of ensuring access to financial services and products to all individuals and businesses, especially the underserved and low-income populations.
• Omni-channel Offerings: Providing a seamless and integrated customer experience across multiple channels, including online, mobile, and physical branches.

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Acquisitions and Mergers – Daily Current Affairs August 20

5. What is the primary focus of the recent approval by the Competition Commission of India (CCI)?
A) Acquisition by Apollo Healthco in Advent
B) Merger of Apollo Healthco with Advent International
C) Acquisition by Rasmeli in Apollo Healthco and subsequent merger of Keimed into Apollo Healthco
D) Investment by Apollo Hospitals Enterprise Limited in Advent International
E) Sale of Keimed’s business to Apollo Healthco
Answer: C) Acquisition by Rasmeli in Apollo Healthco and subsequent merger of Keimed into Apollo Healthco

Event and Location:

• Event: Approval of a business combination involving acquisitions and a merger by the Competition Commission of India (CCI).
• Location: India

Mandates and Objectives:

• Rasmeli’s Investment in Apollo Healthco: Rasmeli Limited, a Cyprus-based investment entity, proposes to make a minority investment in Apollo Healthco (AHL) over two tranches and gain certain rights in AHL.
• Apollo Healthco’s Acquisition of Keimed: Apollo Healthco plans to acquire shares in Keimed Private Limited through primary and secondary transactions.
• Merger of Keimed into Apollo Healthco: Following Rasmeli’s investment, Keimed is set to merge into Apollo Healthco within a specified period.
• AHEL’s Additional Investment in Apollo Healthco: Before Rasmeli’s investment, Apollo Hospitals Enterprise Limited (AHEL) will subscribe to new equity shares of Apollo Healthco via preferential allotment and bonus issuance.

Important Terms Explained:

• Competition Commission of India (CCI): A statutory body responsible for enforcing the Competition Act, 2002, in India to prevent practices having adverse effects on competition.
• Apollo 24|7: A digital healthcare platform operated by Apollo Healthco, offering services such as doctor appointments, diagnostic tests, and pharmacy distribution.
• Advent International, L.P.: A global private equity firm focusing on investments across sectors like healthcare, technology, and consumer products.

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6. What did the Competition Commission of India (CCI) approve regarding Invesco Asset Management (India) Private Limited?
A) Acquisition of 60% shareholding in Invesco AMC by Mango Crest Investment Ltd.
B) Merger of IndusInd International Holdings Limited with Invesco Trustee Private Limited
C) Acquisition of shareholding in Invesco Asset Management (India) Private Limited and Invesco Trustee Private Limited by IndusInd International Holdings Limited
D) Investment in Shriram Housing Finance Limited by IndusInd International Holdings Limited
E) Acquisition of shareholding in Invesco AMC by Shriram Housing Finance Limited
Answer: C) Acquisition of shareholding in Invesco Asset Management (India) Private Limited and Invesco Trustee Private Limited by IndusInd International Holdings Limited

Event and Location:

• Event: Approval by the Competition Commission of India (CCI) of a significant acquisition involving Invesco and IndusInd International Holdings Limited.
• Location: India

Mandates and Objectives:

• Acquisition Details: The acquisition involves a 60% shareholding in both Invesco Asset Management (India) Private Limited (Invesco AMC) and Invesco Trustee Private Limited (Invesco Trustee) by IndusInd International Holdings Limited (IIHL).
• Purpose: IIHL will execute this investment through its wholly owned subsidiary, IIHL AMC Holdings Limited, established specifically for this acquisition.
• Entities Involved:
  • IIHL: A company incorporated in the Republic of Mauritius, primarily involved in investment holding across various sectors.
  • Invesco AMC: An asset management company managing Invesco Mutual Fund, approved by SEBI.
  • Invesco Trustee: The trustee company for Invesco Mutual Fund.

Important Terms Explained:

• Competition Commission of India (CCI): The regulatory authority in India responsible for promoting competition and preventing activities that have an adverse effect on competition.
• Invesco Mutual Fund: A mutual fund managed by Invesco AMC, regulated under SEBI guidelines.
• IndusInd International Holdings Limited (IIHL): A Mauritius-based investment holding company.

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Awards – Daily Current Affairs August 20

7. What was the main focus of the President of India’s speech during the National Geoscience Awards-2023 ceremony?
A) Promotion of renewable energy exclusively
B) The need for advanced technology in agriculture
C) Achieving self-sufficiency in mineral production and promoting geosciences
D) Enhancing space exploration efforts
E) Improving rural infrastructure
Answer: C) Achieving self-sufficiency in mineral production and promoting geosciences

Event and Location:

• Event: Presentation of the National Geoscience Awards-2023.
• Location: Rashtrapati Bhavan Cultural Centre, New Delhi, India

Mandates and Objectives:

• Objective of the Event:
  • The National Geoscience Awards aim to honor individuals and teams for extraordinary achievements and outstanding contributions in various fields of geosciences.
• Key Highlights from the President’s Speech:
  • Self-Sufficiency in Mineral Production:
    • President Droupadi Murmu emphasized the importance of achieving self-sufficiency in mineral production to help India reach its goal of becoming a developed nation by 2047.
    • She praised initiatives like the National Geoscience Data Repository Portal and the use of AI and emerging technologies in mineral exploration and mining.
  • Sustainable Development and Green Transition:
    • The President highlighted India’s commitment to achieving Net Zero Carbon Emission and the importance of critical minerals and rare earth elements for green transition.
    • She expressed confidence that the National Critical Minerals Mission would help India become self-reliant in these essential resources.
  • Disaster Management:
    • The President also mentioned the establishment of the National Landslide Forecasting Centre in Kolkata, which will issue early warnings for landslide-prone areas.
  • Geo-tourism and Geo-heritage:
    • She urged the youth to appreciate India’s geological heritage and consider geo-tourism as a means to promote geosciences.

Important Terms Explained:

• Geosciences: The study of the Earth, including its composition, structure, processes, and history.
• Critical Minerals: Essential minerals that are crucial for the economic development and national security of a country, often used in advanced technologies.
• National Critical Minerals Mission: An initiative aimed at securing India’s supply of critical minerals necessary for economic growth and green technologies.

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Defence – Daily Current Affairs August 20

8. What was the primary focus of the bilateral meeting between Raksha Mantri Shri Rajnath Singh and his Japanese counterpart Mr. Kihara Minoru?
A) Discussing economic trade agreements
B) Reviewing and enhancing defence cooperation between India and Japan
C) Planning a joint cultural exchange program
D) Launching a new educational initiative
E) Negotiating a climate change accord
Answer: B) Reviewing and enhancing defence cooperation between India and Japan

Event and Location:

• Event: Bilateral meeting between Raksha Mantri Shri Rajnath Singh and Japanese Defence Minister Mr. Kihara Minoru.
• Location: New Delhi, India

Mandates and Objectives:

• Review of Defence Cooperation:
  • The meeting focused on reviewing the existing defence cooperation activities between India and Japan, within the framework of the India-Japan Special Strategic and Global Partnership.
  • Both ministers discussed ways to further enhance cooperation in defence and security, reaffirming their commitment to strengthening bilateral relations and contributing to regional peace.
• Defence Exercises and Technological Cooperation:
  • The ministers welcomed the growing number and diversity of defence exercises and exchanges between the two countries, agreeing to expand the scope and complexity of these engagements.
  • They also discussed expanding cooperation in Defence Equipment, Technology, and critical emerging technology domains.
• Industrial Cooperation:
  • Discussions were held on enhancing industrial cooperation, particularly focusing on India’s Make-in-India initiative and partnerships in co-production and co-development of defence technologies.
• Vision for 2047:
  • Raksha Mantri Shri Rajnath Singh highlighted India’s vision for a “Viksit Bharat” by 2047, emphasizing that building domestic defence capabilities and partnering with Japan in defence technology will be crucial for achieving this goal.

Important Terms Explained:

• India-Japan Special Strategic and Global Partnership: A framework that guides the bilateral relations between India and Japan, particularly focusing on security, defence, and strategic cooperation.
• Make-in-India: A government initiative aimed at encouraging companies to manufacture their products in India, thereby boosting domestic manufacturing and reducing import dependence.

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International Affairs – Daily Current Affairs August 20

9. What was the significant development in China’s nuclear energy sector as reported recently?
A) China decommissioned 11 nuclear reactors
B) China halted the construction of nuclear reactors
C) China approved the construction of 11 new nuclear reactors across five sites
D) China switched to fully renewable energy
E) China approved the expansion of coal power plants
Answer: C) China approved the construction of 11 new nuclear reactors across five sites

Event and Location:

• Event: Approval of 11 new nuclear reactors by China.
• Location: Across five sites in China – Jiangsu, Shandong, Guangdong, Zhejiang, and Guangxi.

Mandates and Objectives:

• Significance of Approval:
  • China has approved a record number of 11 nuclear reactors, spread across five different sites, with a total investment of approximately $31 billion (220 billion yuan).
  • This move is part of China’s strategy to rely more heavily on atomic energy to support its emission reduction goals.
  • The construction of these reactors is expected to take about five years.
• China’s Nuclear Power Status:
  • China currently has more nuclear reactors under construction than any other country in the world and aims to become the world’s leading atomic power generator by 2030, surpassing France and the US.
  • The country already has 56 nuclear reactors in operation, contributing to about 5% of its total electricity demand.
• Reactors and Technology:
  • The new projects include advanced fourth-generation reactors, like the high-temperature gas-cooled reactor at the Xuwei plant in Jiangsu.
  • The Hualong One reactors, which are predominantly made from Chinese components, have become a common choice in recent projects.

Important Terms Explained:

• Nuclear Reactors: Facilities within nuclear power plants where nuclear fission is initiated to generate heat, which is then used to produce electricity.
• Hualong One Reactor: A type of third-generation nuclear reactor developed in China, known for its advanced safety features and use of domestically produced components.
• Fourth-Generation Reactor: A newer type of nuclear reactor with enhanced safety features, capable of producing both heat and electricity.

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National Affairs – Daily Current Affairs August 20

10. What are the key initiatives undertaken by the Ministry of Textiles to support the handloom sector?
A) Only promoting the India Handloom brand
B) Providing loans exclusively for handloom organizations
C) Implementing the National Handloom Development Programme and Raw Material Supply Scheme
D) Focusing on export promotion only
E) Establishing a single handloom producer company
Answer: C) Implementing the National Handloom Development Programme and Raw Material Supply Scheme

Event and Location:

• Event: Implementation of various schemes and initiatives by the Ministry of Textiles to promote the handloom sector.
• Location: India

Mandates and Objectives:

• National Handloom Development Programme:
  • Provides financial assistance for upgrading looms, solar lighting, workshed construction, product design development, and marketing of handloom products.
  • Supports infrastructure development and technical assistance for handloom workers and organizations.
• Weavers’ MUDRA Loan/Concessional Credit Scheme:
  • Offers margin money assistance, interest subvention, and credit guarantee fees on loans for weavers and handloom organizations.
• Raw Material Supply Scheme:
  • Includes transport subsidy for yarn delivery and a 15% price subsidy on cotton hank yarn, silk, woollen yarn, linen yarn, and blended yarn of natural fibers.
• Welfare of Handloom Workers:
  • Provides life and accidental insurance cover, scholarships for the wards of handloom workers, and financial support for awardee weavers above 60 years in indigent circumstances.
• Export Promotion:
  • Through the Handloom Export Promotion Council, the government organizes international fairs to promote Indian handloom products globally.
• India Handloom Brand:
  • Launched to promote niche, high-quality handloom products that are environmentally sustainable, with 1,998 registrations under 184 product categories since its launch.

Important Terms Explained:

• National Handloom Development Programme (NHDP): A government initiative aimed at supporting the handloom sector through financial assistance, infrastructure development, and market access.
• Weavers’ MUDRA Loan/Concessional Credit Scheme: Provides financial aid to individual weavers and handloom organizations for boosting productivity and income.
• India Handloom Brand: A branding initiative to promote high-quality handloom products with a focus on zero defect and zero effect on the environment.

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11. What is the purpose of the recently launched DRIPS portal by the Union Minister Shri Manohar Lal?
A) To manage real-time electricity billing
B) To track power sector employee performance
C) To ensure rapid resource deployment in the power sector during disasters
D) To monitor power consumption in coastal states
E) To promote renewable energy projects in disaster-prone areas
Answer: C) To ensure rapid resource deployment in the power sector during disasters

Event and Location:

• Event: Launch of the DRIPS (Disaster Resilient Infrastructure for Power Sector) online portal.
• Location: New Delhi, India

Mandates and Objectives:

• Purpose of DRIPS:
  • DRIPS is designed to rapidly identify and deploy necessary resources in the power sector during disaster situations.
  • It ensures transparent, coordinated, and effective functioning of the power sector during emergencies, aiming to reduce human error and enhance disaster response efficiency.
• Targeted Regions:
  • Coastal states like Gujarat, Maharashtra, Kerala, and others, which are vulnerable to natural disasters, are the primary focus of this initiative.
• Development and Implementation:
  • The Central Electricity Authority (CEA) developed the DRIPS portal in-house, which serves as a single contact point for all nodal officers involved in managing power systems and critical supplies across the country.
• Stakeholder Participation:
  • The portal currently has 61 registered stakeholders, including power generation companies (GENCOs), transmission companies (TRANSCOs), and distribution companies (DISCOMs).

Important Terms Explained:

• DRIPS (Disaster Resilient Infrastructure for Power Sector): An online portal to manage and deploy resources efficiently in the power sector during disasters.
• CEA (Central Electricity Authority): The organization responsible for developing and managing the DRIPS portal in coordination with the power sector entities.

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12. What is the main purpose of the JAL VIDYUT DPR portal launched by the Union Minister Shri Manohar Lal?
A) To monitor electricity billing in hydro projects
B) To manage environmental clearances for power projects
C) To monitor survey and investigation activities of Hydro Electric Projects and Pumped Storage Projects
D) To track consumer complaints in the power sector
E) To promote renewable energy installations in coastal areas
Answer: C) To monitor survey and investigation activities of Hydro Electric Projects and Pumped Storage Projects

Event and Location:

• Event: Launch of the JAL VIDYUT DPR portal for monitoring hydroelectric and pumped storage projects.
• Location: New Delhi, India

Mandates and Objectives:

• JAL VIDYUT DPR Portal:
  • Purpose: The portal is designed to monitor survey and investigation activities related to Hydro Electric Projects and Pumped Storage Projects (PSPs).
  • Centralized Platform: Developed by the Central Electricity Authority (CEA), it serves as a centralized digital platform to enhance efficiency and transparency in project management.
  • Current Projects: The portal currently tracks 11 Hydro Electric Projects with a combined capacity of 9 GW and 39 Pumped Storage Projects with a capacity of 57 GW.
  • Improved Coordination: It facilitates better communication between developers and various appraising agencies like the Central Water Commission (CWC), Geological Survey of India (GSI), and others, ensuring streamlined processes in the preparation of Detailed Project Reports (DPRs).
  • Government’s Initiative: This aligns with the broader goal of promoting ease of doing business by reducing timelines for appraisals and approvals.

Important Terms Explained:

• Hydro Electric Projects: Infrastructure projects that generate electricity by harnessing the energy from flowing or falling water.
• Pumped Storage Projects (PSPs): These projects store energy by pumping water to a higher elevation during low demand periods and releasing it to generate electricity during peak demand.

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13. What is the main function of the newly launched PROMPT portal by the Union Minister Shri Manohar Lal?
A) To manage electricity billing for consumers
B) To monitor renewable energy projects in real-time
C) To provide real-time tracking and analysis of thermal power projects
D) To oversee environmental compliance in power projects
E) To manage fuel supply logistics for power plants
Answer: C) To provide real-time tracking and analysis of thermal power projects

Event and Location:

• Event: Launch of the PROMPT (Portal for Online Monitoring of Projects – Thermal) by the Union Minister Shri Manohar Lal.
• Location: New Delhi, India

Mandates and Objectives:

• PROMPT Portal:
  • Purpose: The portal is designed to facilitate real-time tracking and analysis of under-construction thermal power projects across India.
  • Development: Developed with the assistance of NTPC, the portal digitizes the monitoring process, allowing for efficient identification and resolution of issues.
  • Key Features:
    • Real-Time Tracking: Provides a centralized platform to monitor project execution, ensuring that potential delays and issues are promptly addressed.
    • Transparency and Accountability: Enhances transparency in project management, reducing time and cost overruns.
    • Resource Optimization: Supports predictable resource availability, which is crucial for meeting the country’s growing electricity demand.

Important Terms Explained:

• Thermal Power Projects: These projects involve the generation of electricity using heat energy, typically from coal, natural gas, or nuclear fuel.
• Central Electricity Authority (CEA): The body responsible for overseeing the power sector’s development and ensuring the efficient execution of power projects.

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14. What was the primary focus of the second edition of the National Conference of Enforcement Chiefs of the State and Central GST Formations?
A) Launching new GST compliance software
B) Discussing strategies to tackle fake registrations and GST evasion
C) Implementing new GST rates
D) Promoting ease of doing business through reduced GST rates
E) Reviewing the performance of the GST Network (GSTN)
Answer: B) Discussing strategies to tackle fake registrations and GST evasion

Event and Location:

• Event: Second edition of the National Conference of Enforcement Chiefs of the State and Central GST Formations.
• Location: New Delhi, India

Important Terms Explained:

• GST (Goods and Services Tax): A comprehensive, multi-stage, destination-based tax levied on every value addition in India.
• Fake Registrations: Refers to the fraudulent registration of firms with the intent to claim undue Input Tax Credit (ITC) under the GST regime.
• Input Tax Credit (ITC): A mechanism that allows businesses to reduce the tax they have paid on inputs from the tax they owe on their final product.

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15. What is the main objective of the first certification program launched by IICA in partnership with the Directorate General Resettlement (DGR), Ministry of Defence?
A) To train defence officers for government roles
B) To prepare senior defence officers as Independent Directors
C) To provide technical training to defence personnel
D) To promote defence cooperation between India and other countries
E) To train officers in cybersecurity and IT management
Answer: B) To prepare senior defence officers as Independent Directors

Event and Location:

• Event: Inauguration of the first certification program for senior defence officers to prepare them as Independent Directors.
• Location: IICA Campus, Manesar, Gurugram, India

Mandates and Objectives:

• Objective of the Program:
  • The two-week certification program aims to equip senior defence officers with the knowledge and skills necessary to serve as Independent Directors on corporate boards.
  • It is designed to provide participants with a conceptual and regulatory understanding of corporate governance, focusing on the roles and responsibilities of Independent Directors.
• Participants:
  • The program includes 30 senior officers from the Army, Navy, and Air Force, including Air Vice Marshals, Major Generals, and Rear Admirals, both serving and recently superannuated.
• Keynote Address:
  • Ms. Monica Agrawal emphasized the importance of boards in corporate governance and the valuable role defence officers can play in enhancing governance standards by bringing their leadership and strategic expertise to corporate boards.
• Program Design:
  • The curriculum is structured to align public governance, military governance, and corporate governance, with the aim of helping defence officers transition to roles in corporate leadership.

Important Terms Explained:

• Independent Director: An independent director is a member of a board of directors who does not have a material or pecuniary relationship with the company or its related entities, other than their director’s fee.
• Corporate Governance: The system of rules, practices, and processes by which a company is directed and controlled, focusing on the relationship between a company’s management, its board, shareholders, and other stakeholders.

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16. What is the primary objective of the Hackathon launched by the Bureau of Indian Standards (BIS)?
A) To develop new manufacturing standards
B) To create a platform for online activities to promote awareness of Indian Standards
C) To improve infrastructure in educational institutions
D) To design a new logo for BIS
E) To develop a new consumer feedback system
Answer: B) To create a platform for online activities to promote awareness of Indian Standards

Event and Location:

• Event: Launch of a Hackathon by the Bureau of Indian Standards (BIS).
• Location: India

Mandates and Objectives:

• Hackathon Objective:
  • The Hackathon aims to engage student teams from institutes that have signed an MoU with BIS. The main goal is to design and develop a platform for organizing online activities and games.
  • These activities are intended to cultivate interest, enhance knowledge, and raise awareness about Indian Standards, which play a crucial role in ensuring quality and safety.
• Participation Details:
  • Students participating in the Hackathon are tasked with creating innovative solutions that focus on promoting standards and quality awareness.
  • The platform to be developed should be capable of hosting various online activities, potentially linked to important events like World Standards Day and World Consumer Rights Day.

Important Terms Explained:

• Bureau of Indian Standards (BIS): The national standards body of India, responsible for the development and maintenance of quality standards across various industries.
• Indian Standards: A set of guidelines and specifications developed by BIS to ensure the quality and safety of products and services in India.

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17. What was the main highlight of the Rajasthan government’s preparations for the ‘Rising Rajasthan’ Investment Summit 2024?
A) Launch of a new industrial policy
B) Receiving investment proposals worth over Rs 5.21 lakh crore
C) Organizing a cultural festival
D) Signing an international trade agreement
E) Introducing new tax incentives for local businesses
Answer: B) Receiving investment proposals worth over Rs 5.21 lakh crore

Event and Location:

• Event: Rajasthan government’s preparations for the ‘Rising Rajasthan’ Investment Summit 2024.
• Location: Jaipur, Rajasthan, India

Mandates and Objectives:

• Investment Proposals:
  • The Rajasthan government received investment proposals worth over Rs 5.21 lakh crore (over USD 62 billion) within two weeks of announcing the summit dates.
  • These investments have the potential to generate around 1.55 lakh direct employment opportunities, significantly impacting the state’s economy.
• Economic Impact:
  • The investment proposals represent over 33% of Rajasthan’s current Gross State Domestic Product (GSDP), which is estimated to be INR 15.28 lakh crore for 2023-24.
• Summit Details:
  • The ‘Rising Rajasthan’ Investment Summit 2024 is scheduled to take place from December 9-11, 2024, in Jaipur.
  • The summit aims to attract global investment, innovation, and partnerships, making Rajasthan a prime investment destination.
• Government Efforts:
  • The Industries Department, led by Minister Colonel Rajyavardhan Rathore, has been actively working for several months to improve the investment climate in Rajasthan.
  • Efforts include enhancing the ‘Ease of Doing Business,’ creating a supportive infrastructure, and resolving issues faced by the business community.
• Future Plans:
  • The Rajasthan government plans to conduct domestic and international roadshows to engage with national and global industrialists, corporates, and international institutions.

Important Terms Explained:

• Gross State Domestic Product (GSDP): A measure of the economic output of a state, similar to Gross Domestic Product (GDP) at the national level.
• Ease of Doing Business: Refers to the regulatory environment and the ease with which businesses can start and operate in a region.

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18. What was the total value of the deals and projects inaugurated by Andhra Pradesh Chief Minister N Chandrababu Naidu at Sri City, and what is the potential employment generation?
A) Rs 2,000 crore, generating 10,000 jobs
B) Rs 5,000 crore, generating 20,000 jobs
C) Rs 3,683 crore, generating 15,280 jobs
D) Rs 4,000 crore, generating 12,000 jobs
E) Rs 3,000 crore, generating 15,000 jobs
Answer: C) Rs 3,683 crore, generating 15,280 jobs

Event and Location:

• Event: Inauguration and foundation laying of industrial projects, along with the signing of deals by Andhra Pradesh Chief Minister N Chandrababu Naidu.
• Location: Sri City, Andhra Pradesh, India

Details:

• Total Value of Projects and Deals:
  • The total value of the projects and deals inaugurated, laid foundation for, and signed at Sri City amounts to Rs 3,683 crore.
• Employment Generation:
  • These projects and deals have the potential to generate 15,280 jobs.
  • Breakdown of Investments:
    • 15 industrial projects with a total investment of Rs 1,570 crore, generating 8,480 jobs.
    • 7 projects with an investment of Rs 900 crore, generating 2,740 jobs.
    • 5 deals signed involving an investment of Rs 1,213 crore, generating 4,060 jobs.
  • Chief Minister’s Vision:
    • Naidu emphasized that Sri City is being developed to become one of the best special economic zones (SEZ) globally, aiming to compete with places like Shenzhen in China.
    • He highlighted Andhra Pradesh’s focus on electric vehicles, renewable energy, and green hydrogen.

Important Terms Explained:

• Special Economic Zone (SEZ): A designated area in a country that is subject to unique economic regulations that differ from other areas in the same country, often aiming to attract foreign investments and boost economic activity.
• Memorandum of Understanding (MoU): An agreement between two or more parties outlined in a formal document, signifying the intention of the parties to move forward with a project or cooperation.

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19. What is the primary objective of the newly launched international trade financing platform by M1xchange at GIFT City?
A) To provide loans to large corporations
B) To offer global liquidity and trade financing to Indian MSMEs
C) To promote digital payments among Indian MSMEs
D) To create a platform for international e-commerce
E) To facilitate cryptocurrency trading for MSMEs
Answer: B) To offer global liquidity and trade financing to Indian MSMEs

Event and Location:

• Event: Launch of an international trade financing platform by M1xchange.
• Location: GIFT City, Gujarat, India

Mandates and Objectives:

• Primary Objective:
  • The primary objective of the platform, M1NXT ITFS, is to provide Indian MSMEs (Micro, Small, and Medium Enterprises) with access to global liquidity by enabling them to benefit from trade financing facilities offered by foreign banks at a lower cost.
  • The platform is designed to facilitate international trade financing for MSMEs, making it easier and more affordable for them to access global factoring services.
• Significance:
  • The initiative supports Indian MSMEs in their international trade operations by lowering financing costs and improving their cash flow through access to global financial markets.

Important Terms Explained:

• MSMEs (Micro, Small, and Medium Enterprises): Small and medium-sized enterprises that form a significant part of the economy, particularly in developing countries like India.
• Factoring Services: A financial transaction where a business sells its accounts receivable (invoices) to a third party (factor) at a discount in exchange for immediate cash flow.
• GIFT City: Gujarat International Finance Tec-City, a business district in Gujarat, India, developed as a global financial and IT services hub.

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20. What is the significance of the ARAI certification received by Plugzmart, an IIT Madras-incubated start-up?
A) It allows Plugzmart to export EV chargers to Europe
B) It signifies that Plugzmart’s EV charger meets India’s operational safety and efficiency standards
C) It enables Plugzmart to develop software for electric vehicles
D) It permits Plugzmart to manufacture gasoline engines
E) It signifies the launch of Plugzmart’s first electric vehicle
Answer: B) It signifies that Plugzmart’s EV charger meets India’s operational safety and efficiency standards

Event and Location:

• Event: Plugzmart, an IIT Madras-incubated start-up, received certification from the Automotive Research Association of India (ARAI).
• Certification: The certification was awarded for Plugzmart’s 60kW DC Fast Charger and its proprietary controller card, indicating their compliance with Indian operational safety and efficiency standards.

Mandates and Objectives:

• Significance of ARAI Certification:
  • The ARAI certification confirms that Plugzmart’s EV charger meets the required safety and efficiency standards set by Indian authorities, specifically the Ministry of Heavy Industries.
  • This certification is a crucial step for Plugzmart in establishing its EV chargers as reliable and safe products within India’s growing electric vehicle infrastructure.
• Impact on EV Infrastructure:
  • The certification represents a significant boost to indigenous electric vehicle infrastructure in India, supporting the country’s efforts to enhance domestic production of EV components.

Important Terms Explained:

• ARAI (Automotive Research Association of India): A leading automotive research and certification organization in India, responsible for testing and certifying vehicles and components to ensure they meet regulatory standards.
• DC Fast Charger: A type of electric vehicle charger that provides high power output, enabling rapid charging of electric vehicles.

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