Current Affairs Quiz 24th October 2024 Quiz

Exp. India’s fourth nuclear submarine launched into water

India’s fourth nuclear-powered ballistic missile submarine (SSBN), referred to as S4*, was launched into water at the Ship Building Centre in Visakhapatnam.

This submarine is bigger and more capable than the first, INS Arihant (S2), which is essentially a technology demonstrator developed under the Advanced Technology Vessel programme.

India currently has two SSBNs operational. INS Arihant was quietly commissioned into service in August 2016. It has a displacement of 6,000 tonnes and is powered by an 83 MW pressurised light-water reactor with enriched uranium.

The second SSBN, INS Arighaat (S3), which retains the same reactor and dimensions with several technological upgrades, was commissioned end-August.

The 3rd SSBN Aridhman (S4) is currently undergoing sea trials and is expected to be commissioned, into service next year.

INS Arihant is presently armed with a 750km range K-15 SLBM. The S4* carries the advanced 3,500 km range SLBM K-4 that was tested for the first time in 2020.

The K-4 will be the mainstay of India’s undersea nuclear deterrence as it provides standoff capability to launch nuclear weapons while submerged in Indian waters until a 5,000 km range SLBM is developed and fielded.

Exp. Union Minister Jyotiraditya M. Scindia launches ‘International Incoming Spoofed Calls Prevention System’

Union minister for communications Jyotiraditya Scindia has launched the department of telecommunications’ “International Incoming Spoofed Calls Prevention System” that can detect and block spam international calls that display Indian numbers as the caller ID.

Multiple scammers masquerade as police, courier company employees, or others to call victims from international numbers that appear as Indian numbers on the victims’ phones.

In July, the finance ministry announced a ₹38.76 crore allocation to the DoT (department of telecommunications) to set up the Centralised International Out Roamer (CIOR), as this system was then called.

The allocation for the Digital Intelligence Unit (DIU), a project whose aim is to investigate the fraudulent use of telecom resources, such as scam and spam calls and messages, was also increased from ₹50 crore (revised estimate for FY24) to ₹85 crore (budget estimate for FY25).

This system was implemented in two phases, three DoT officials told HT on the condition of anonymity. It was first implemented at telco level earlier this month and led to about 3 to 3.2 million such calls being blocked daily.

Exp. Union Food and Consumer Affairs Minister Shri Pralhad Joshi launches retail of Bharat Chana Dal Phase – II in Delhi-NCR

Union Minister of Consumer Affairs, Food and Public Distribution & New and Renewable Energy, Pralhad Joshi has launched the retail of Bharat Chana Dal Phase – II in Delhi-NCR by flagging off mobile vans of NCCF, NAFED and Kendriya Bhandar.

In Phase – II of Bharat Chana Dal, 3 lakh tons of Chana stock from the price stabilisation buffer is being converted to Chana Dal and Chana Whole for retail sale to consumers at MRP of Rs.70 per kg and Rs.58 per kg, respectively. Apart from Chana, the government had also expanded the Bharat brand to Moong and Masur Dals.

The Bharat Moong Dal is retailed at Rs.107 per kg, Bharat Moong Sabut at Rs.93 per kg and Bharat Masur Dal at Rs.89 per kg.

The resumption of Bharat Chana Dal at this time will enhance the supplies to consumers of Delhi-NCR in this festive season.

Exp. NESTS launches ‘Amazon Future Engineer Program’ for Eklavya Model Residential Schools

National Education Society for Tribal Students (NESTS) launched the Third Phase of the ‘Amazon Future Engineer Program’ in 50 Eklavya Model Residential Schools (EMRS) spread across Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Odisha, Telangana and Tripura.

The third phase would include an orientation on blockchain, artificial intelligence, coding, block programming and AI sessions.

The third phase of the Amazon Future Engineer Program will be rolled out across 410 proposed EMRSs in India.

The Amazon Future Engineer Program has been running for two years, has already introduced over 7,000 students in grades 6 to 8 to the fundamentals of computer science and block programming, with over 50 teachers trained in the previous phases.

Additionally, project-based virtual sessions will be provided for class 10 students, further aligning with the CBSE AI Skills Curriculum. NESTS remains committed to fostering technological literacy and modernizing education for tribal students across the nation.

Exp. CCI approves Aquilo House’s acquisition of Aavas Financiers

The Competition Commission of India has approved Aquilo House Pte. Ltd (AHPL) ‘s proposed acquisition of Aavas Financiers Limited (AFL).

Aavas Financiers Limited (Acquirer) is a newly incorporated entity, wholly and indirectly held by the Relevant CVC Funds which are certain investment funds or vehicles managed and/or advised by members of the CVC Network.

The “CVC Network” or “CVC Group” is a global alternative investment manager focused on private equity, credit, secondaries and infrastructure, consisting of CVC Capital Partners plc. (CVC PLC) and each of its subsidiaries from time to time.

CVC PLC is a public limited company whose shares are listed and admitted to trading on the Euronext Amsterdam Stock Exchange.

Exp. BSNL unveils new brand identity, launches seven digital services for pan-India connectivity

Bharat Sanchar Nigam Limited (BSNL) revealed its new logo and introduced seven digital services focusing on secure, affordable, and reliable connectivity across India.

The launch event was led by Union Minister of Communications Jyotiraditya M Scindia in New Delhi.

The company also introduced automated SIM kiosks offering 24/7 services with UPI payment options and an intranet TV service providing 500+ channels through its FTTH network at no additional cost.

BSNL’s security-focused services feature an automatic spam-blocking system and a dedicated network for disaster relief operations.

The company launched a national Wi-Fi roaming service for FTTH customers and pioneered private 5G connectivity for mining operations in collaboration with C-DAC.

The new logo incorporates green and white arrows surrounding India against an orange backdrop, emphasizing nationwide coverage and inclusivity.

The company’s tagline, “Connecting Bharat,” underscores its mission to bridge the digital divide between urban and rural areas.

These developments represent BSNL’s strategic push to modernize its services and strengthen its position in India’s competitive telecommunications market.

Exp. Vietnam appoints Army General Cuong as new President after long turmoil

Vietnam elected Luong Cuong, a military general, as its new president, the fourth official to fill the role in 18 months.

Cuong, 67, was elected by the National Assembly to replace To Lam, who remained president even after he was formally appointed as the general secretary of the ruling Communist Party in August.

The role of the general secretary is the most powerful position in Vietnam while the presidency is largely ceremonial.

Cuong, who has served in the Vietnamese army for over four decades, has been a Politburo member since 2021.

Vietnam’s leaders are next due to convene a Communist Party Congress in early 2026.

Newly Appointed Prime Minister & President

• President of Indonesia – Prabowo Subianto
• President of Tunisia – Kais Saied (2^nd time)
• President of Mexico – Claudia Sheinbaum (first woman president of nation)
• PM of Japan – Shigeru Ishiba (replace Fumio Kishida)
• President of Sri Lanka – Anura Kumara Dissanayake;9th (replace Ranil Wickremesinghe)
• PM of Jordan – Jafar Hassan

Exp. SAIL Wins SHRM HR Excellence Awards for Inclusion and Workforce Management

Steel Authority of India Limited (SAIL) has been honored with prestigious awards at the SHRM India Annual Conference 2024, held in New Delhi.

SAIL received recognition in two key categories: ‘Excellence in Inclusion, Equity & Diversity’ and ‘Excellence in Managing the Distributed Workforce.’

These accolades underscore SAIL’s commitment to innovative and forward-thinking human resource practices, which are being implemented across its various plants and units nationwide.

The awards highlight SAIL’s dedication to fostering an inclusive environment where equity and diversity thrive, ensuring the holistic growth of its workforce.

The company is recognized for continuously motivating and engaging its employees, understanding their central role in driving organizational success.

Exp. IMF retains India’s GDP growth forecast at 7% for FY25, 6.5% for FY26

The International Monetary Fund (IMF) kept its growth forecasts for India unchanged at 7 per cent and 6.5 per cent for FY25 and FY26, respectively.

This is because pent-up demand accumulated during the pandemic has been exhausted, as the economy reconnects with its potential.

Earlier this month, the Reserve Bank of India (RBI), in its latest monetary policy committee (MPC) review, also kept its growth projection for the current financial year unchanged at 7.2 per cent. It cited robust consumption and investment momentum.

Updated GDP List

• IMF – 7% (FY25), 6.5% (FY26)
• World Bank – 7% (FY25)
• Moody’s – 7.1% (CY24), 6.5% (CY25)
• Moody Ratings – 2% (CY24), 6.6% (CY25)
• ADB – 7% (FY24), 7.2%(FY25)
• S&P – 6.8% (FY25), 6.9% (FY26), 7% (FY27)
• Goldman Sachs – 6.7% (CY24), 6.4% (CY24)
• SBI – 7%

Exp. RBI approves Pranav Chawda’s appointment as JP Morgan Chase Bank India CEO

India’s central bank approved the appointment of Pranav Chawda as chief executive officer of JPMorgan Chase & Co.’s local banking unit for a period of three years.

Chawda, who heads commercial banking, will expand his current responsibility to become head of the corporate banking entity.

The position fell vacant after former CEO Prabdev Singh stepped down before the end of his term.

Chawda joined J P Morgan in 2019 and has been heading the commercial banking vertical.

Recent Appointment in Banking & Insurance Sector

• Chairperson of the Board of National Pension System (NPS) Trust – Chitra Jayasimha (replace Venkata Rao Yadagani)
• CEO of Acko Life Insurance – Sandip Goenka
• MD & CEO of Bandhan Bank – Partha Pratim Sengupta (for 3 year)
• MD of Cholamandalam Investment and Finance Company – Ravindra Kumar Kunda
• Deputy Governor of RBI – M. Rajeshwar Rao (reappointment for 1 year)
• Executive Director of RBI – Aviral Jain

Exp. Pam Kaur appointed as first female CFO of HSBC

The British multinational bank Hong Kong and Shanghai Banking Corporation (HSBC) made history by appointing Pam Kaur as its first female Chief Financial Officer (CFO).

She succeeds Georges Elhedery, who has been appointed HSBC’s chief executive officer (CEO).

The 60-year-old Indian-born British citizen Pam Kaur joins a growing list of women who occupy top posts in the global banking system.

She joins the ranks of Morgan Stanley’s CFO Sharon Yeshaya, JP Morgan’s Mary Erdoes, Marianne Lake, and Jennifer Piepszak, as well as Citi’s chief executive officer (CEO) Jane Fraser.

About Hong Kong and Shanghai Banking Corporation (HSBC) Limited

• HSBC is a British multinational bank established in Hong Kong in 1865.
• It started its India operation in 1959 by buying a local bank – Mercantile Bank of India.
• HSBC India is a registered foreign bank regulated by the Reserve Bank of India.
• Headquarters- London, UK
• CEO of HSBC India Operation- Hitendra Dave
• Global CEO – Georges Elhedery
• Tagline- The world’s local bank

Exp. India & Pakistan extends Kartarpur Corridor agreement till 2029

The governments of India and Pakistan have agreed to extend the validity of the Agreement on Sri Kartarpur Sahib Corridor for five years until 24 October 2029. The initial agreement was to lapse on 24 October 2024.

The agreement between the two countries comes in the background of the Minister for External Affairs, Dr S Jaishnakar’s visit to Pakistan for the 23rd Meeting of the Shanghai Cooperation Organisations (SCO) Council of Heads of Government, held in Islamabad on 15 & 16 October 2024.

It was the first direct talk between the foreign ministers of both countries since the 2015 visit of the-External Affairs Minister Sushma Swaraj to Pakistan to attend the Heart of Asia Conference in Islamabad.

What is the Kartarpur Corridor?

• The Kartarpur Corridor is a 4.1 km long road that starts in Dera Baba Nanak town in Gurdaspur district, Punjab and ends at the Gurdwara Sri Kartarpur Sahib in the Narowal district of Pakistani Punjab province.
• Kartarpur is located in Pakistani Punjab along the west bank of the Ravi River. It is a holy pilgrimage place for the Sikhs, where the founder of Sikhism, Guru Nanak Dev Ji, spent the last 18 years of his life.

Exp. Himanshu Pathak appointed as DG of ICRISAT

Dr. Himanshu Pathak, Secretary of the Department of Agricultural Research and Education (DARE) and Director General of the Indian Council of Agricultural Research (ICAR), has been appointed as the new Director General of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT).

Dr. Pathak is the first Indian to hold this prestigious position and only the second individual of Indian origin, following Dr. M.S. Swaminathan, to lead a research institute within the global CGIAR system.

Dr. Swaminathan was the Director General of the International Rice Research Institute (IRRI), the CGIAR rice research laboratory in the Philippines, from 1982 to 1988. Currently, Dr. Jacqueline d’Arros Hughes is the Director General of ICRISAT.

About International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)

• ICRISAT is a pioneering International Organization committed to developing and improving dryland farming and agri-food systems.
• Founded- 1972
• Headquarters- Hyderabad, Telangana
• Founders- M. S. Swaminathan, C. Fred Bentley, Ralph Cummings

Exp. BOBCARD appoints cricketer Shreyanka Patil as brand ambassador

BOBCARD Limited, a subsidiary of Bank of Baroda, has appointed cricketer Shreyanka Patil as its brand ambassador.

Shreyanka will represent the company in upcoming campaigns and initiatives, as BOBCARD LIMITED works to promote its vision of ‘Reimagine Credit for Everyone in India.’

BOBCARD LIMITED aims to redefine the credit card experience by offering solutions that address the evolving needs of consumers.

Recent Brand Ambassador

• Rashmika Mandanna – National Ambassador for Promoting Cyber Safety
• Rahul Dravid – Shriram Finance Ltd
• Manu Bhaker – Ministry of Ports, Shipping and Waterways (MoPSW)
• Alia Bhatt – French cosmetic maker L’Oreal Paris
• Salman Khan – GRM Basmati Rice
• Dinesh Karthik – SA20 league
• Shikhar Dhwan – MotoGP India

Exp. Ferrari’s Leclerc wins US Grand Prix

Ferrari’s Charles Leclerc clinched his third Formula One race of the season as he finished ahead of teammate Carlos Sainz to win the United States Grand Prix.

Monaco native Leclerc helped Ferrari finish the race one-two as Spaniard Sainz was placed second, 8.562 seconds behind Leclerc’s winning time of 1:35:09.639 in a memorable race at the Circuit of the Americas in Austin, Texas.

Leclerc had also won the Monaco Grand Prix and Italian Grand Prix this year.

Recent 2024 F1 Grand Prix Winner

• US Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Singapore Grand Prix – McLaren’s Lando Norris (British)
• Azerbaijan Grand Prix – McLaren’s Oscar Piastri (Australia)
• Italian Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Dutch Grand Prix – McLaren’s Lando Norris (British)
• Hungarian Grand Prix F2 – Kush Maini (India)
• Belgian Grand Prix – Mercedes’s Lewis Hamilton (UK)
• Hungarian Grand Prix – McLaren’s Oscar Piastri (Australia)
• British Grand Prix – Mercedes’s Lewis Hamilton (UK)
• Austrian Grand Prix – Mercedes’s George Russell (UK)
• Spanish Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Canadian Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Monaco Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Emilia Romagna Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Miami Grand Prix – McLaren’s Lando Norris (British)
• Chinese Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Japanese Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Australian Grand Prix – Ferrari’s Carlos Saina (Spain)
• Saudi Arabian Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Bahrain Grand Prix – Red Bull’s Max Verstappen (Netherlands)