Daily Current Affairs July 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 July 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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July 05 | Daily Current Affairs 2024

Obituary – Daily Current Affairs July 05

1. Who was the Oscar-winning screenwriter of “Chinatown” who recently passed away at the age of 89?
A) Edward Taylor
B) Roman Polanski
C) Robert Evans
D) Robert Towne
E) Warren Beatty
Answer: D) Robert Towne

Event and Location:

• Event: Death of Robert Towne, Oscar-winning screenwriter of “Chinatown”
• Location: Los Angeles, California

Mandates and Objectives:

• Notable Works: Robert Towne was known for his screenplays for “Chinatown,” “Shampoo,” and “The Last Detail.”
• Awards: Won an Academy Award for “Chinatown” and received a lifetime achievement award from the Writers Guild of America in 1997.
• Contributions: Worked uncredited on “The Godfather” and “Bonnie and Clyde.”

Important Terms Explained:

• Screenwriter: A writer responsible for writing scripts for films, television series, and other visual media.
• Ghostwriting: Writing material for someone else who is officially credited as the author.

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Banking and Finance – Daily Current Affairs July 05

2. Where has India launched UPI to boost transactions ahead of the Paris Olympics 2024?
A) Louvre Museum
B) Champs-Élysées
C) Galeries Lafayette
D) Notre-Dame
E) Arc de Triomphe
Answer: C) Galeries Lafayette

Event and Location:

• Event: Launch of UPI at Galeries Lafayette
• Location: Haussmann Boulevard, Paris

Mandates and Objectives:

• Purpose: Expand UPI acceptance and facilitate seamless transactions for Indian visitors in Paris.
• Launch Date: July 3, 2024
• Key Figures: Launched by Indian Ambassador to France, Monaco Jawed Ashraf, with CEO of Galeries Lafayette, Nicolas Houze, and Chairman of Lyra Group, Alain Lacour.
• Significance: Enhances digital payment solutions ahead of Paris Olympics 2024.

Important Terms Explained:

• UPI (Unified Payments Interface): An instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.
• NPCI (National Payments Corporation of India): The organization responsible for managing and operating UPI.

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3. What new option does ICICI Pru iProtect Smart introduce for monthly income security?
A) Life Insurance
B) Life Cover
C) Life Continuity
D) Health Insurance
E) Savings Plan
Answer: C) Life Continuity

Event and Location:

• Event: Introduction of the ‘Life Continuity’ option in ICICI Pru iProtect Smart
• Location: India

Mandates and Objectives:

• Purpose: Provide beneficiaries with the death benefit payout as monthly income instead of a lump sum.
• Benefits: Helps families manage ongoing expenses and ensures sustained financial security.

Important Terms Explained:

• Life Continuity: An option in term life insurance that allows beneficiaries to receive monthly payments.
• Critical Illness Benefit: Covers 34 critical conditions, providing financial support upon diagnosis.

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4. What is the key feature of the Shriram Life Deferred Annuity Plan recently launched?
A) Immediate payout
B) Lump sum benefit
C) Deferred annuity
D) Term insurance
E) Critical illness cover
Answer: C) Deferred annuity

Event and Location:

• Event: Launch of the Shriram Life Deferred Annuity Plan
• Location: Chennai, India

Mandates and Objectives:

• Purpose: To offer affordable retirement benefits with insurance protection.
• Target Audience: Younger professionals and entrepreneurs.
• Key Feature: Balances long-term savings growth with insurance protection.

Important Terms Explained:

• Deferred Annuity: A type of annuity plan where the payouts begin after a specified period, allowing the savings to grow over time before distributions start.

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5. What is the amount of monetary penalty imposed by the RBI on Punjab National Bank (PNB)?
A) ₹50 lakh
B) ₹75 lakh
C) ₹1.00 crore
D) ₹1.32 crore
E) ₹2.00 crore
Answer: D) ₹1.32 crore

Event and Location:

• Event: RBI imposes monetary penalty on PNB
• Location: India

Mandates and Objectives:

• Penalty Amount: ₹1.32 crore (₹131.80 lakh)
• Reason: Non-compliance with RBI directions on ‘Loans and Advances’ and ‘Know Your Customer (KYC)’ guidelines.
• Action: Notice issued to PNB advising to show cause for non-compliance.

Important Terms Explained:

• Know Your Customer (KYC): A process used by financial institutions to verify the identity of their clients to prevent fraud and money laundering.

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Business and Economy – Daily Current Affairs July 05

6. Which consulting firm has LIC partnered with for the “Jeevan Samarth” project?
A) McKinsey & Company
B) Bain & Company
C) Boston Consulting Group
D) A. T. Kearney
E) Deloitte
Answer: D) A. T. Kearney

Event and Location:

• Event: LIC’s partnership with A. T. Kearney for the “Jeevan Samarth” project
• Location: India

Mandates and Objectives:

• Purpose: To future-proof LIC’s 14 lakh agent workforce and review the existing agency framework.
• Goals:
  • Transform agency operations at Branch, Division, and Zonal levels.
  • Establish global best practices in the insurance sector.
• Impact: Enhance skills and tools for agents to better meet evolving customer needs.

Important Terms Explained:

• Jeevan Samarth: A transformation project aimed at improving LIC’s agency ecosystem.
• A. T. Kearney: A global strategy consulting firm involved in the transformation project.

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7. What is the significant feature of the Bajaj Freedom motorcycle launched recently?
A) It runs on diesel
B) It is electric-powered
C) It is solar-powered
D) It runs on CNG
E) It is a hybrid motorcycle
Answer: D) It runs on CNG

Event and Location:

• Event: Launch of the world’s first CNG-powered bike, Bajaj Freedom
• Location: Pune, India

Mandates and Objectives:

• Purpose: To offer significant fuel cost savings by reducing expenses by around 50% compared to petrol motorcycles.
• Launch Details: Unveiled in the presence of Union Minister Nitin Gadkari.

Important Terms Explained:

• CNG (Compressed Natural Gas): An eco-friendly alternative fuel that offers cost savings and reduced emissions compared to petrol.

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Books and Authors – Daily Current Affairs July 05

8. Who is the subject of the biography titled “MANOJ BAJPAYEE: The Definitive Biography”?
A) Piyush Pandey
B) Shekhar Kapur
C) Nirmal Pandey
D) Ram Gopal Verma
E) Manoj Bajpayee
Answer: E) Manoj Bajpayee

Event and Location:

• Event: Release of the biography “MANOJ BAJPAYEE: The Definitive Biography”

Mandates and Objectives:

• Biography Focus: Chronicles the journey of Manoj Bajpayee from a small village to becoming a notable actor in Bollywood.
• Author: Piyush Pandey, who was inspired by Bajpayee’s story and shadowed him for over a decade.
• Objective: To showcase Manoj Bajpayee’s struggles and successes in the film industry, highlighting his persistence and dedication to his craft.

Important Terms Explained:

• Manoj Bajpayee: An acclaimed actor known for his method acting and memorable roles in Indian cinema.
• Piyush Pandey: Journalist and author of the biography, inspired by Bajpayee’s journey.
• Method Acting: A technique of acting in which actors fully immerse themselves into the character they are portraying.

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Appointments – Daily Current Affairs July 05

9. Who has become Maharashtra’s first female Chief Secretary?
A) Nitin Kareer
B) Sujata Saunik
C) Usha Thorat
D) Preeti Sudan
E) Vinita Bali
Answer: B) Sujata Saunik

Event and Location:

• Event: Sujata Saunik becomes Maharashtra’s first female Chief Secretary.
• Location: Mantralaya, the State Secretariat in south Mumbai.

Mandates and Objectives:

• Appointment: Sujata Saunik was appointed by the MahaYuti government.
• Term Duration: She will serve a one-year tenure.

Important Terms Explained:

• MahaYuti Government: Refers to the coalition government in Maharashtra, often formed by a major alliance of political parties.

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10. Who has been appointed as the Chief Justice of the Punjab & Haryana High Court?
A) Justice Dipak Misra
B) Justice Sheel Nagu
C) Justice Ranjan Gogoi
D) Justice Sharad Arvind Bobde
E) Justice N. V. Ramana
Answer: B) Justice Sheel Nagu

Event and Location:

• Event: Appointment of Justice Sheel Nagu as Chief Justice
• Location: Punjab & Haryana High Court

Mandates and Objectives:

• Appointment: Notified by the Ministry of Law & Justice on July 4, 2024
• Authority: The appointment is made under the powers conferred by clause (1) of Article 217 of the Constitution of India.
• Previous Position: Justice Sheel Nagu was a Judge of the High Court of Madhya Pradesh.

Important Terms Explained:

• Article 217 of the Constitution of India: Relates to the appointment and conditions of the office of a Judge of a High Court.
• Chief Justice: The highest judicial officer in a High Court responsible for its administration and judicial work.

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11. Who is set to take oath as the Chief Minister of Jharkhand on July 4, 2024?
A) Rajesh Thakur
B) C.P. Radhakrishnan
C) Hemant Soren
D) Shibu Soren
E) Babulal Marandi
Answer: C) Hemant Soren

Event and Location:

• Event: Oath-taking ceremony of Hemant Soren as Chief Minister
• Location: Raj Bhavan, Ranchi, Jharkhand

Mandates and Objectives:

• Position: Hemant Soren is set to take oath as Chief Minister of Jharkhand.
• Appointment: Invited by Governor C.P. Radhakrishnan to form the government.
• Coalition Decision: Unanimously elected by leaders of the JMM-led alliance as the Legislature Party leader.

Important Terms Explained:

• Chief Minister (CM): The head of the government of a state in India.
• JMM (Jharkhand Mukti Morcha): A regional political party in Jharkhand.
• Raj Bhavan: The official residence of the Governor.

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12. Who has been appointed as the principal spokesperson of the central government on July 4, 2024?
A) Sheyphali B Sharan
B) Dhirendra K Ojha
C) Y K Baweja
D) Rajesh Thakur
E) C.P. Radhakrishnan
Answer: B) Dhirendra K Ojha

Event and Location:

• Event: Appointment of the principal spokesperson of the central government
• Location: New Delhi

Mandates and Objectives:

• New Appointment: Senior IIS officer Dhirendra K Ojha appointed as the principal spokesperson of the central government.
• Additional Charge: Ojha will also hold the charge of the principal director general, Press Information Bureau (PIB).
• Successor: Succeeds Sheyphali B Sharan, who has been appointed as the director general of the Publications Division.
• Previous Position: Ojha served as the director general, Central Bureau of Communications (CBC).

Important Terms Explained:

• Indian Information Service (IIS): A branch of the Indian civil services responsible for handling information and broadcasting for the government.
• Press Information Bureau (PIB): The nodal agency of the Government of India for disseminating information to the print and electronic media.
• Central Bureau of Communications (CBC): An agency responsible for advertising and media strategy for all central government organizations.

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Awards – Daily Current Affairs July 05

13. Which Indian NBFC was selected for The Financial Action Task Force’s (FATF) Mutual Evaluation report 2023-24?
A) Bajaj Finance
B) HDFC Ltd
C) Shriram Transport Finance
D) Muthoot Finance
E) Tata Capital
Answer: D) Muthoot Finance

Event and Location:

• Event: Selection of Muthoot Finance for FATF Mutual Evaluation report 2023-24
• Location: Chennai, India

Mandates and Objectives:

• Significance: Muthoot Finance is the only Indian Non-Banking Financial Company (NBFC) selected for the FATF Mutual Evaluation report.
• Achievement: Recognizes Muthoot Finance’s legacy and global trust.

Important Terms Explained:

• FATF (Financial Action Task Force): An intergovernmental organization founded to develop policies to combat money laundering and terrorism financing.
• Mutual Evaluation Report: A comprehensive evaluation of a country’s adherence to FATF’s recommendations on anti-money laundering (AML) and counter-terrorist financing (CTF).

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Defence – Daily Current Affairs July 05

14. Where was the first Secretary-level meeting between the Defence Ministries of India and the Democratic Republic of Congo held?
A) Kinshasa
B) Mumbai
C) New Delhi
D) Bengaluru
E) Kolkata
Answer: C) New Delhi

Event and Location:

• Event: First Secretary-level meeting between the Defence Ministries of India and the Democratic Republic of Congo
• Location: New Delhi

Mandates and Objectives:

• Purpose: Identify areas for collaboration to enhance bilateral defence cooperation.
• Indian Delegation: Led by Defence Secretary Shri Giridhar Aramane.
• Congolese Delegation: Led by Permanent Secretary of Defence, Major General Lukuikila Metikwiza Marcel.

Important Terms Explained:

• Bilateral Defence Cooperation: Collaboration between two nations in defense-related areas such as training, technology, and industry.

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International Affairs – Daily Current Affairs July 05

15. Where will the 57th ASEAN Foreign Ministers’ Meeting be held?
A) Bangkok
B) Manila
C) Jakarta
D) Vientiane
E) Kuala Lumpur
Answer: D) Vientiane

Event and Location:

• Event: 57th ASEAN Foreign Ministers’ Meeting
• Location: Vientiane, Laos
• Dates: July 21 to 27, 2024

Mandates and Objectives:

• Preparations: Lao authorities are preparing for the event, which includes accommodation, transport, communication, and internet facilities for ministers and delegations from over 34 countries.
• Leadership: Chaired by Lao Deputy Prime Minister and Minister of Foreign Affairs Saleumxay Kommasith.

Important Terms Explained:

• ASEAN (Association of Southeast Asian Nations): A regional organization comprising ten Southeast Asian countries that promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members.
• Foreign Ministers’ Meeting: An annual meeting where ASEAN foreign ministers discuss regional and international issues and work towards greater regional cooperation.

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National Affairs – Daily Current Affairs July 05

16. When has the Smart Cities Mission been extended till?
A) December 2024
B) March 2025
C) June 2025
D) December 2025
E) March 2026
Answer: B) March 2025

Event and Location:

• Event: Extension of the Smart Cities Mission
• Location: New Delhi

Mandates and Objectives:

• Mission Launch: The Smart Cities Mission (SCM) was launched in June 2015.
• Objective: To develop 100 cities as smart cities through a competitive selection process.
• Extension: The mission has been extended till March 31, 2025.
• Development Plan: Focuses on area development within selected cities to create model areas that influence other parts of the city and nearby towns.

Important Terms Explained:

• Smart Cities Mission (SCM): An initiative by the Union Urban Development Ministry aimed at promoting sustainable and inclusive urban development.
• Union Urban Development Ministry: The central government ministry responsible for urban development and planning.

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17. Who launched the ‘Lokpath Mobile App’ in Madhya Pradesh?
A) Shivraj Singh Chouhan
B) Kamal Nath
C) Jyotiraditya Scindia
D) Mohan Yadav
E) Uma Bharti
Answer: D) Mohan Yadav

Event and Location:

• Event: Launch of the ‘Lokpath Mobile App’
• Location: Media centre, State Assembly Building, Bhopal, Madhya Pradesh

Mandates and Objectives:

• Purpose: To resolve road problems reported by the public within seven days and ensure the accountability of officers.
• Developer: Madhya Pradesh State Electronic Development Corporation Limited
• Implementation:
  • Phase 1: Includes national highways, state highways, and main district roads.
  • Phase 2: Expands to include other district and rural routes.

Important Terms Explained:

• Lokpath Mobile App: An application allowing the public to report road issues, ensuring resolutions within seven days.
• Madhya Pradesh State Electronic Development Corporation Limited: The developer of the app, focused on technological advancements for state welfare.

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18. Which program was launched to empower women entrepreneurs with financial literacy and business skills in India?
A) SWAYAM
B) SEHER
C) UDYAM
D) SARTHAK
E) SAKSHAM
Answer: B) SEHER

Event and Location:

• Event: Launch of the SEHER program
• Location: New Delhi

Mandates and Objectives:

• Purpose: Empower women entrepreneurs in India with financial literacy content and business skills.
• Partners: Women Entrepreneurship Platform (WEP) and TransUnion CIBIL
• Focus: Improve financial knowledge, credit access, and business growth.

Important Terms Explained:

• SEHER: A credit education program aimed at empowering women entrepreneurs.
• Women Entrepreneurship Platform (WEP): A NITI Aayog initiative to support women entrepreneurs.
• TransUnion CIBIL: An information and insights company providing financial solutions.

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19. Which organizations signed an MoU for the development of a framework and assessment of logistics costs in India?
A) DPIIT and NITI Aayog
B) DPIIT and NCAER
C) Ministry of Commerce & Industry and FICCI
D) NITI Aayog and NCAER
E) Ministry of Commerce & Industry and CII
Answer: B) DPIIT and NCAER

Event and Location:

• Event: Signing of MoU for the development of a framework and assessment of logistics costs
• Location: New Delhi

Mandates and Objectives:

• Purpose: Develop a detailed framework for logistics cost assessment in India.
• Key Deliverables:
  • Framework for logistics cost assessment
  • Comprehensive study for 2023-24
  • Assessment of cost differentials across various parameters
• Significance: Part of the National Logistics Policy to reduce logistics costs as a percentage of GDP.

Important Terms Explained:

• DPIIT (Department for Promotion of Industry and Internal Trade): Part of the Ministry of Commerce & Industry, responsible for formulating and implementing promotional and developmental measures for growth of the industrial sector.
• NCAER (National Council of Applied Economic Research): A premier economic research institution in India.

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21. Who presented the Gallantry Awards at the Defence Investiture Ceremony-2024 (Phase-I)?
A) Vice President of India
B) Prime Minister of India
C) Union Minister for Defence
D) Chief of Defence Staff
E) President of India
Answer: E) President of India

Event and Location:

• Event: Defence Investiture Ceremony-2024 (Phase-I)
• Location: Rashtrapati Bhavan, New Delhi

Mandates and Objectives:

• Purpose: Presentation of Gallantry Awards
• Presenter: President of India, Smt Droupadi Murmu
• Dignitaries Present: Vice President of India, Prime Minister of India, and Union Minister for Defence

Important Terms Explained:

• Gallantry Awards: Honors awarded for acts of bravery and sacrifice by military personnel.

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22. Who is jointly hosting the international GenAI conclave in Kochi with the Kerala government?
A) Microsoft
B) Google
C) IBM
D) Intel
E) Amazon
Answer: C) IBM

Event and Location:

• Event: International GenAI Conclave
• Location: Kochi, Kerala

Mandates and Objectives:

• Purpose: Showcase Kerala’s strengths as a destination for AI and robotics enterprises.
• Dates: July 11-12, 2024
• Partnership: Kerala government and IBM

Important Terms Explained:

• GenAI (Generative Artificial Intelligence): A type of AI that can generate new content, such as text, images, or other media, based on the input it receives.

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23. Which sections of the Telecommunications Act were notified by the government for optimal utilisation of spectrum and prohibition of equipment blocking telecommunications?
A) Sections 1-5
B) Sections 6-8, 48, and 59(b)
C) Sections 10-15
D) Sections 20-25
E) Sections 30-35
Answer: B) Sections 6-8, 48, and 59(b)

Event and Location:

• Event: Notification of additional provisions in the Telecommunications Act
• Location: New Delhi, India

Mandates and Objectives:

• Purpose:
  • Optimal utilisation of spectrum
  • Prohibition of equipment blocking telecommunications
  • Criteria for appointing Chairperson and Members of TRAI
• Sections Notified: 6-8, 48, and 59(b)
• Effective Date: July 5, 2024
• Key Features: Efficient spectrum utilisation, flexible spectrum use, enforcement mechanism, and criteria for TRAI appointments.

Important Terms Explained:

• Spectrum: The range of electromagnetic frequencies used for transmitting voice, data, and video.
• TRAI (Telecom Regulatory Authority of India): The regulator of the telecommunications sector in India.

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Over All Review

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