Current Affairs Quiz 25th November 2024 Quiz

Exp. India, Australia sign air-to-air refuelling agreement for defence

Australia and India have achieved a significant milestone in their defence relationship by signing an arrangement to facilitate air-to-air refuelling between the Royal Australian Air Force (RAAF) and the Indian Armed Forces.

This agreement marks a new chapter in enhancing the operational capabilities and interoperability of both nations in the Indo-Pacific region.

The arrangement allows RAAF’s KC-30A Multi-Role Tanker Transport to refuel Indian Armed Forces aircraft, broadening their collaborative scope in joint operations.

Australia’s Deputy Chief of Air Force, Air Vice-Marshal Harvey Reynolds, signed the arrangement in New Delhi during the Australia-India Air Staff Talks.

Exp. Harsha Vardhan Agarwal of Emami appointed FICCI President

Managing Director and Vice Chairman of Emami Group, Harsha Vardhan Agarwal, assumed the office of the President of the business lobby group, Federation of Indian Chambers of Commerce and Industry (FICCI) for 2024-25.

Harsha Vardhan Agarwal succeeded Anish Shah.

Senior Vice President of FICCI – Anant Goenka who is the Vice Chairman of the RPG Group,which has diversified business interest in the infrastructure, tyre, information technology (IT), pharma, and speciality sectors.

Vice -President of FICCI – Vijay Sankar who is the Chairman of the Sanmar Group, , headquartered in Chennai. The diversified Sanmar has business interest in India and abroad with presence in engineering technologies, chemicals, and shipping.

Recent Appointment

• President of the International Mind Sports Association – Nandan Kumar Jha (India)
• Comptroller and Auditor General of India – K. Sanjay Murthy (replace Girish Chandra Murmu)
• Chairperson of International Jury for IFFI 2024- Ashutosh Gowariker
• Chairman of Indian Oil Corporation – Arvinder Singh Sahney (replace V.Satish Kumar)
• Coach of Neeraj Chopra – Jan Zelezny (Czech repbulic)

Exp. RBI’s High-Level Policy Conference of Central Banks from Global South

The Reserve Bank of India (RBI) organised a two-day “High-Level Policy Conference of Central Banks from the Global South” in Mumbai, Maharashtra.

The Conference was part of a series of international conferences organised by the Reserve Bank of India to celebrate the 90th year of its foundation under its flagship programme, RBI@90.

This was the third international conference to be organised by the Reserve Bank of India under its RBI@90 celebration.

The first international conference to be organised by the RBI was the “Global Conference on ‘Digital Public Infrastructure and Emerging Technologies’ in August  2024 in Bengaluru, Karnataka.

The theme of the High-Level Policy Conference of Central Banks from the Global South was “Building Synergies” across the central banking fraternity of the Global South”.

The second international conference was organised in New Delhi in October 2024 under the theme High-Level Conference on ‘Central Banking at Crossroads.’

The Reserve Bank of India was established on 1 April 1935 under the provisions of the Reserve Bank of India Act 1934. The RBI’s headquarters is in Mumbai, Maharashtra.

Exp. Kerala receives the Best Marine State award at World Fisheries Day 2024

Kerala was honoured with the Best Marine State award for its contribution to the country’s fisheries and aquaculture sector growth.

On the occasion of World Fisheries Day 2024, the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry & Dairying honoured many states, districts, and individuals for their contribution in a ceremony organised in New Delhi.

2024 Award winners list

Best State/Union Territory Category

• Best Marine State- Kerala
• Best Inland State- Telangana
• Best Himalayan and Northeastern State- Uttarakhand
• Best Union Territory – Jammu and Kashmir

Best District Award

• Best Marine District- Kollam, Kerala
• Best Inland District- Kanker, Chhattisgarh
• Best Himalayan and Northeastern District-Darrang, Assam
• Best Union Territory – Kulgam , Jammu and Kashmir.

Exp. 6th meeting of the ASEAN-India Trade in Goods Agreement Joint Committee held in New Delhi

The 6th ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related meetings for discussions on the review of the AITIGA were held in Vanijya Bhawan, New Delhi.

There are 8 Sub-Committees under the AITIGA Joint Committee to negotiate aspects related to market access, rules of origin, SPS measures, standards and technical regulations, customs procedures, economic and technical cooperation, trade remedies, and legal and institutional provisions.

ASEAN is one of India’s major trade partners, with an about 11% share in India’s global trade. Bilateral trade in 2023-24 was USD 121 Bn and reached USD 73 Bn during April-October 2024, with a 5.2% growth. The review of AITIGA will be a step forward in enhancing trade with the ASEAN region in a sustainable manner.

Exp. Govt directs EPFO to ensure UAN activation for employees through Aadhaar-based OTP

The Ministry of Labour & Employment has directed the EPFO to ensure the Universal Account Number (UAN) of employees is active to avail the benefits of the Employment Linked Incentive (ELI) Scheme.

To ensure that the maximum number of employers and employees benefit from the ELI Scheme, it has directed EPFO to work in a campaign mode with employers and ensure activation of UAN of employees.

UAN activation provides employees with seamless access to EPFO’s comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real-time.

This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices.

In the first stage, employers are required to complete the process of UAN activation through Aadhaar-based OTP for all their employees joining in the current financial year by 30th November 2024, starting with the latest joinees.

Exp. SBI launches low-cost tailored vehicle loan for Uber’s fleet partners

State Bank of India has introduced a customised vehicle loan product for Uber’s fleet partners to support the growth of the ride-hailing industry.

This loan enables low-cost, tailored financing solutions as well as hassle free loan disbursement to Uber’s fleet partners.

The partnership between SBI and Uber aims to leverage SBI’s extensive financial services network and Uber’s technology to ensure that the fleet partners effectively expand their fleet and scale-up their operations. SBI accounts for 19.2 per cent market share of auto loans in the country.

Exp. United States leads global Network Readiness Index 2024; India ranks 49th

The 2024 Network Readiness Index (NRI), published by the Portulans Institute and Saïd Business School at the University of Oxford, has ranked the United States as the world leader in network readiness for the third consecutive year.

The report highlights the US’s dominance in artificial intelligence (AI) development, digital business transformation, and technology adoption.

Singapore has retained the second position, while South Korea has risen to fifth, making them the only Asian countries in the top 10. The rankings underscore Europe’s dominance, with Finland, Sweden, and the United Kingdom occupying prominent positions.

India is ranked 49th globally, maintaining its position as a rising digital powerhouse. Among lower-middle-income countries, India is second only to Vietnam (45th).

The NRI 2024 reveals a complex global digital landscape where significant disparities exist between regions and development levels. At the top of the rankings, the United States leads with exceptional performance across technology adoption and innovation metrics, particularly excelling in areas like AI development and digital business transformation.

Recent index

• Henley Passport Index 2024 (Oct 2024): India at 83^rd; topped by Singapore
• World Justice Project Rule of Law Index 2024 – India at 79th; topped by Denmark
• First Global Nature Conservation Index 2024 – India ranks 176th with a score of 45.5 out of 100; Luxembourg ranked 1st with a score of 70.8
• Global Innovation Index 2024 – India at 39th; topped by Switzerland
• Asia Power Index – 1st USA; 2nd China; 3rd India; 4th Japan; 5th Australia

Exp. Author Ashok Gopal wins Kamaladevi Chattopadhyay NIF book prize for BR Ambedkar’s biography

Writer Ashok Gopal has won the Kamaladevi Chattopadhyay NIF Book Prize for his biography “A Part Apart: The Life and Thought of B R Ambedkar “, from the New India Foundation.

Published by Navayana, the book delivers a vivid account of Ambedkar’s life journey from facing systemic oppression to shaping India’s constitution as an advocate for marginalised communities.

The winning author has been presented with the award, which includes a cash prize of Rs 15 lakhs, a trophy, and a citation.

Other books in the shortlist included “How Prime Ministers Decide” by Neerja Choudhry, “Fire on the Ganges: Life Among the Dead in Banaras” by Radhika Iyengar, “H-Pop: The Secretive World of Hindutva Pop Stars” by Kunal Purohit, and “Sheikh Abdullah: The Caged Lion of Kashmir” by Chitralekha Zutshi.

Recent Award

• Indira Gandhi Prize for 2023 – Daniel Barenboim, and Ali Abu Awwad (for Peace, Disarmament, and Development)
• Green World Awards 2024 in London – Coal India Limited
• 73rd Miss Universe (2024) – Victoria Kjaer Theilvig (Denmark); Second- Chidimma Adetshina (Nigeria); Third – Maria Fernanda Beltran (Mexico)s
• First Indian to win Miss Grand International 2024 – Rachel Gupta (from Jalandhar)
• Fiji highest Civilian Award – Sri Sri Ravi Shankar

Exp. Sony bags Asian Cricket Council media rights till 2031 for $170 mn

The Asian Cricket Council (ACC) announced that Sony Pictures Networks India (SPNI), a part of Japan’s Sony Group Corporation, had bagged the media rights for all ACC tournaments from 2024 to 2031.

The deal includes broadcasting and digital rights for all ACC tournaments over the next eight years. Star India had the media rights till 2023.

The deal encompasses all editions of men’s and women’s Asia Cups, men’s and women’s Under-19 Asia Cups, and the men’s and women’s Emerging Teams Asia Cups. It marks over a 70 per cent increase from the previous media rights cycle and highlights the growing global stature and appetite for ACC Asia Cup tournaments.

Exp. RBI slaps monetary penalties on RBL Bank, Union Bank, and Bajaj Finance

The Reserve Bank of India (RBI) has imposed monetary penalties on RBL Bank, Union Bank, and Bajaj Finance due to violation of certain norms.

RBL Bank has been fined Rs 64,00,000 for its failure to obtain an annual declaration in Form B from one of its major shareholders within the stipulated time frame of one month after the close of the financial year ending on March 31, 2018, March 31, 2019, and March 31, 2020.

Further, Union Bank of India has incurred a penalty of Rs 1 crore for its failure to comply with specific directions. The bank had sanctioned a term loan to a corporation without conducting necessary due diligence on the viability and bankability of the projects.

A penalty worth Rs 8,50,000 was imposed on Bajaj Finance. The penalty was levied due to the company’s non-compliance with the ‘Monitoring of Frauds in NBFCs Directions, 2016,’ a set of guidelines issued by the RBI.

Recent Penalties imposed on Banks by RBI

• HDFC Bank (1 crore) – for non-compliance with regulations
• Axis Bank (1.91 crore) – for non-compliance with regulations
• Housing and Urban Development Corporation Ltd (3.5 lakh) – for non-compliance with certain provisions of directions on ‘non-banking financial company
• Godrej Housing (5 lakh)- for non-compliance with certain provisions of directions on ‘non-banking financial company
• Aadhar Housing Finance Ltd. -(5 lakh)- for non-compliance with certain provisions of directions on ‘non-banking financial company
• UCO Bank (2.68 crore)- for contravention of certain provisions, including on opening of current accounts, interest rate on deposits and frauds classification

Exp. UPI 123Pay transaction limit doubles to Rs 10,000 for feature phone users

The Reserve Bank of India (RBI) has increased the transaction limit for UPI 123Pay from Rs 5,000 to Rs 10,000, allowing users to make higher-value digital payments via feature phones.

UPI 123Pay is a service designed for people who do not have internet access on their mobile phones, offering a way to make digital payments through methods such as:

IVR (Interactive Voice Response): Users interact with a voice-based system to carry out transactions.

Missed Calls: A feature where users can make payments by dialing specific numbers and hanging up, triggering a payment process.

OEM (Original Equipment Manufacturer) Apps: Special apps installed on feature phones that allow users to make payments.

Sound Technology: Using sound waves to securely transfer payment information between devices

The National Payments Corporation of India (NPCI), which manages UPI, has instructed banks and service providers to implement this change. Although the rule is effective immediately, full compliance with the new limit must be completed by January 1, 2025

Exp. Air India to set up basic maintenance training organisation in Bengaluru Airport City

Tata-owned Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to establish a facility for Aircraft Maintenance Engineering (AME).

The 86,000-square-foot campus, located at Bengaluru Airport City, is scheduled to become operational by mid-2026.

The Basic Maintenance Training Organisation will establish a pipeline of skilled engineers trained to Air India standards from the outset.

The agreement is part of Air India’s plans to set up a basic maintenance training organisation (BMTO) to offer an integrated aircraft maintenance engineering (AME) program certified by the Indian aviation regulator Directorate General of Civil Aviation (DGCA).

Exp. Samsung introduces its second-gen AI model ‘Gauss2’

Samsung Electronics unveiled Gauss 2, the second generation of its generative artificial intelligence (AI) model, at an annual tech conference.

Samsung Gauss, first introduced last year, is aimed at enhancing the work efficiency of workers by facilitating tasks, such as composing emails, summarising documents and translating content.

The second-generation version offers improved performance and efficiency in simultaneously handling various data types as a multimodal model integrating language, code and images.

It is available in three distinct models catered to different purposes — Compact, Balanced and Supreme. Samsung Gauss 2 supports nine to 14 languages, as well as various programming languages, depending on the model. The tech giant said Samsung Gauss is already being used in various tasks for the company’s employees, leveraging its customisable development capabilities.

Exp. Former SC judge H S Bedi dies at 78

Former Supreme Court judge Harjit Singh Bedi passed away at the 78.

Born on September 5, 1946, Justice Bedi was the son of Justice Tikka Jagjit Singh Bedi, a judge of the Punjab and Haryana High Court. He studied at Bishop Cotton School, Shimla, completing his Senior Cambridge in 1962.

Justice Bedi began his legal career on July 17, 1972, enrolling with the Bar Council of Punjab & Haryana. He was a part-time law lecturer from 1974 to 1983 and served as Deputy Advocate General of Punjab from 1983 to 1987. He was designated Senior Advocate in 1987 and worked as Additional Advocate General until 1989 before becoming Punjab’s Advocate General in 1990.

He was appointed as an Additional Judge of the Punjab and Haryana High Court on March 15, 1991, becoming a permanent judge on July 8, 1992. In 2006, he became Chief Justice of the Bombay High Court and was elevated to the Supreme Court on January 12, 2007. He retired on September 5, 2011.

In 2012, Justice Bedi was appointed Chairman of the Monitoring Authority by the Supreme Court to examine cases of alleged fake encounters in Gujarat. In his report, he recommended further probes into three of the 17 cases he reviewed.