Current Affairs Quiz 30th and 31st March 2024 Quiz

Exp. World’s largest copper manufacturing plant owned by Adani Group

Billionaire Gautam Adani-led group has started of the first phase of the world’s largest single-location copper manufacturing plant at Mundra in Gujarat, which will help cut India’s dependence on imports and aid energy transition.

The 1st phase of the facility will produce 0.5 million tonnes a year of refined copper.

India joins China and oth er nations that are rapidly expanding production of copper.

India’s per capita copper consumption is around 0.6 kg and the global average is 3.2 kg.

Exp. India’s first Artificial Intelligence based Film ‘IRAH’ trailer launched

The trailer and song launch of the first Hindi film on this subject, “IRAH,” took place in Mumbai.

The movie features Rohit Bose Roy, Rajesh Sharma, Karishma Kotak, and Rakshith Bhandarry in prominent roles.

The movie is Produced by Big Films Media and directed by Sam Bhattacharjee. The film is set to release nationwide in theaters on April 4th through Iamplex Digital Theatrical Distribution.

The trailer of the film “IRAH” showcases the misuse of AI technology, shedding light on its negative aspects.  

Exp. World’s First Om-Shaped Temple inaugurated in Rajasthan

The World’s first-ever Om-shaped temple has inaugurated in the village of Jadan in Pali district of Rajasthan.

This temple became the world’s first temple designed in this iconic form. This architectural masterpiece will not only attract tourists, but will also boast of an impressive visual presence that will be visible from space too.

The ‘Om Aakar’ temple spans across a vast expanse of 250 acres in Jadan Village.

Features of Om Aakar Temple

• This temple is shaped like the Om symbol and follows the Nagara style commonly seen in North India. This intricate design pays tribute to the region’s rich cultural and architectural heritage.
• Nagara style got its fame from the Gupta dynasty and continued to flourish through various regional kingdoms and empires that ruled over the northern parts of India.
• One notable aspect of this temple is that it can hold 1,008 idols of Lord Mahadev and 12 Jyotirlingas within its sacred boundaries.
• The temple stands at a towering height of 135 ft and is supported by 2,000 pillars. It also has 108 rooms on its premises, with the tomb of Guru Madhavanand ji as the central feature of the temple complex.
• The central feature is the tomb of Guru Madhavanand ji. The topmost section houses a shivling made of rhinestone sourced from Dholpur.

Exp. HPCL and Tata Join Forces to Build Nationwide EV Charging Network

Tata Passenger Electric Mobility (TEPM) has signed an MoU with Hindustan Petroleum Corporation (HPCL) to set up 5,000 electric vehicle charging stations across India.

The collaboration will leverage HPCLs widespread fuel station network and TPEMs insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners.

The collaboration will leverage HPCL’s extensive network of over 21,500 fuel stations across the country.

HPCL aims to install 5,000 electric vehicle charging stations by December 2024, leveraging its extensive fuel station network.

Additionally, HPCL will gather insights on charger usage to improve the customer experience.

Recent MoU

• NHPC inks pct with JBIC for 20 billion for developing a 300 MW solar project in Bikaner, Rajasthan.
• Tech Mahindra collaborates with IBM to drive digital adoption
• ICAR and Krishi Jagran signed MoU for the dissemination & promotion of ICAR’s initiatives for the growth of Indian Agriculture
• Defence Ministry contract with HAL for upgrade of 25 Dornier aircraft
• L&T Finance Holdings Ltd signed a financing pact with Japan International Cooperation Agency (JICA) for $125 million to support financing in rural and peri-urban areas in India, particularly women borrowers

Exp. IIM Mumbai and Starburst collaborate to boost aerospace, defence startups

The Indian Institute of Management (IIM) Mumbai has partnered with Europe’s Starburst, in a bid to boost the aerospace, new space, and defence (ASD) industry in India.

The partnership aims to strengthen India’s position as a hub for ASD innovation on the global stage, as well as offer a conducive environment for innovation and entrepreneurship.

This strategic collaboration between IIM Mumbai and Starburst signifies a crucial step towards nurturing and empowering the burgeoning ASD startup ecosystem in India.

IITs in News

• IIT Madras hosts the 6th Shaastra Rapid FIDE Rated Chess Tournament
• Starburst Accelerator SARL partners with IIT Madras to establish €100 million startup hub
• IIT Madras develops customisable ‘Electric Standing Wheelchair’
• Indian Navy & IIT Kharagpur signed a MoU to drive innovation through research partnership
• Max India’s subsidiary partners with IIT Delhi for senior citizen care

Exp. Bank of India to raise Rs 10,000 cr via infrastructure bonds

Bank of India (BoI)’s board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects.

The fund would be raised in 2024-25, BoI said in a regulatory filing.

Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects.

These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.

Exp. Axis Bank launches Digital US Dollar Fixed Deposits for NRIs at GIFT City

Axis Bank has launched the digital US dollar Fixed Deposits (FD) tailored for Non-Resident Indian (NRI) customers at the IFSC Banking Unit (IBU) situated in GIFT City, Gujarat.

The US Dollar fixed deposit scheme offers a diverse array of investment tenures ranging from seven days to an extensive ten years.

Additionally, customers retain the flexibility to request partial or full premature closure of their FD through the Axis Bank mobile application, enhancing their control and convenience over their investments.

With this introduction, Axis Bank becomes the first bank to offer a digital journey for GIFT City Deposits.

The bank’s NRI clientele can now initiate US dollar fixed deposits at GIFT City through ‘Open by Axis Bank,’ the mobile banking application offered by the lender.

About Axis Bank

• Founded – 1993
• Headquarters – Mumbai, Maharashtra
• Chairman – Rakesh Makhija
• MD & CEO – Amitabh Chaudhary
• Tagline – Badhti Ka naam Zindagi

Recent Facilities Launched in Banking & Insurance Sector

• Federal Bank launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC payments
• Airtel Payments Bank partners with Noise and Mastercard to unveil ‘A New Way To Pay’
• IndusInd Bank introduced Indus PayWear, a new wearable payment solution, available on Mastercard.
• Bank of Baroda launched BoB Earth Green Term Deposit Scheme with 7.15% interest
• Karnataka Vikas Grameena Bank launched a new loan scheme called ‘Vikas Spoorty’

Exp. Girija Subramanian appoints as CMD of New India Assurance Company

The Financial Services Institutions Bureau (FSIB) has selected Girija Subramanian as Chairman and Managing Director (CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India Insurance Company.

The post of CMD at United India has been vacant since February 2024 following the retirement of Satyajit Tripathy, and Neerja Kapur’s tenure at New India Assurance is set to end in April 2024.

Girija Subramanian is currently the CMD of the Agriculture Insurance Company of India, and B S Rahul serves as the general manager at the same company.

About New India Assurance Company

• New India Assurance Company is India’s premier general insurance company.
• Established in 1919. It is one of the Domestic Systemically Important Insurers (DSIIs) identified by the IRDAI.
• The New India Assurance Company is headquartered in Mumbai.

Recent Appointment in Banking & Insurance Sector

• MD & CEO of Bank of Maharashtra – Nidhu Saxena
• Chairman of Indian Bank Association (IBA) for 2023 24 – M V Rao
• Deputy Chairmen of IBA – Dinesh Kumar Khara, S L Jain and N Kamakodi
• MD & CEO of Poonawalla Fincorp -Arvind Kapil
• President of ‘One Kotak’ – Jaideep Hansra

Exp. Arnab Banerjee elected as Chairman of ATMA

MD & CEO of CEAT Ltd, Arnab Banerjee has been elected as the new Chairman of Automotive Tyre Manufacturers’ Association (ATMA).

Arnab Banerjee joined CEAT in 2005 as the Vice President-Sales and Marketing.

About ATMA

• ATMA is the national industry body for the automotive tyre sector in India.
• Established -1975
• ATMA is amongst the most active national industry bodies in the country representing ₹90,000 crore ($11 bn) automotive tyre industry.
• Eight large tyre companies comprising a mix of Indian and International tyre majors and representing over 90 per cent of production of tyres in India are members of the Association.
• ATMA members include Apollo Tyres, Bridgestone India, Ceat, Continental India, Goodyear India, JK Tyre & Industries, MRF and TVS Tyres.

Recent Appointment

• Judicial Member, Lokpal – Ritu Raj Awasthi
• Director in UPSC – Hansha Mishra
• Chairman of Surat Diamond Bourse – Govind Dholakia (replace Vallabh Lakhani)
• Chairperson of Digital News Publishers Association (DNPA) – Mariam Mammen Mathew (replace Tanmay Maheshwari)
• President of Indian Steel Association (ISA) – Naveen Jindal (replace Dilip Oommen)
• Mumbai Municipal Commissioner – Bhushan Gagrani

Exp. IT Dept slaps ₹564.44 crore penalty on Bank of India

Income Tax department has levied a penalty of Rs 564.44 crore on Bank of India, the public sector lender.

The bank has received the order under Section 270A of the Income Tax Act, 1961 from the Income Tax Department, Assessment Unit pertaining to AY2018-19, wherein the penalty of Rs 564.44 crore has been imposed on various disallowances made.

About Bank of India (BOI)

• Founded- 7 September 1906
• Founder- Ramnarain Ruia
• Headquarters- Mumbai
• MD & CEO – Rajneesh Karnatak
• Tagline – Relationship beyond Banking

Exp. Vijay Jain bagged prestigious Times Power Icon 2024 Award

Managing Director of Star Estate, Vijay Jain has been awarded the prestigious Times Power Icon 2024 Award.

The award ceremony, held recently in Noida, was organized by The Times Group.

About Star Estate

• Founded in 2012 as the fastest-growing Real Estate enterprise, Star Estate offers a wide range of consulting services in residential, commercial and retail verticals and more.
• Star Estate aims to inspire the world by demonstrating that it is possible to provide long-term and sustainable benefits to consumers, entrepreneurs, suppliers, shareholders, and the community all at the same time.

Recent Awards

• Abel Prize 2024 – Michel Talagrand (for work in probability theory and stochastic processes).
• 29th Devi Shankar Awasthi Award 2023 – Nishant (for Kavita Pathak Aalochna)
• GEEF Global Environment Award 2024 – THDC India Limited
• Sangita Kalanidhi award 2024 – Thodur Madabusi Krishna
• PV Narasimha Rao Memorial Award – Ratan Tata
• Diana Memorial Award – Uday Bhatia & Manasi Gupta

Exp. IIT Madras to host the 6th Shaastra Rapid FIDE Rated Chess Tournament

An International Chess Federation (FIDE)-rated Rapid Chess Tournament will be hosted by IIT Madras.

More than 35 players from the institute will take part in the event.

The ‘6th Shaastra Rapid FIDE Rated Chess Tournament’ will witness the participation of six Grandmasters, sixteen International Masters, three Women Grandmasters and a Women International Master.

The total prize fund of the tournament is ₹5,00,000 with the first prize being ₹65,000. The tournament not only offers substantial prize funds but also attracts a diverse range of player.

IITs in News

• Starburst Accelerator SARL partners with IIT Madras to establish €100 million startup hub
• IIT Madras develops customisable ‘Electric Standing Wheelchair’
• Indian Navy & IIT Kharagpur signed a MoU to drive innovation through research partnership
• Max India’s subsidiary partners with IIT Delhi for senior citizen care
• MoRD partners with IIT Delhi to work collaboratively in Geospatial Technology and Artificial Intelligence

Exp. LCA Tejas MK-1A completes maiden flight in Bengaluru

The Hindustan Aeronautics Limited (HAL) has successfully completed the first flight of indigenous light combat aircraft (LCA) Tejas Mark 1A fighter jet in Bengaluru.

The aircraft was airborne for 15 minutes during its first flight.

The fighter aircraft is likely to be deployed at Nal airbase in Rajasthan’s Bikaner near the Pakistan border where it can take care of the western adversary.

LCA Mk-1A is an advanced variant of the LCA Mk-1, and it has advanced electronic radar, superior warfare capabilities, and improved maintenance features.

Exp. India-Mozambique-Tanzania Trilateral Exercise concludes at Mozambique

The second edition of India-Mozambique-Tanzania Trilateral Exercise (IMT TRILAT 24) concluded at Nacala, Mozambique.

The week-long exercise underscores the importance of enhanced maritime cooperation and interoperability between the Navies of India, Mozambique, and Tanzania.

INS Tir and Sujata participated in IMT TRILAT 24 through a series of joint exercises, training sessions and collaborative activities, providing invaluable opportunities for all three Navies to exchange knowledge, enhance capabilities and bolster maritime security in the region.

Recent Exercise

• Exercise “TIGER TRIUMPH 2024” between India and USA – Eastern Seaboard
• 10th edition of Military Exercise LAMITIYE-2024 between India and Seychelles – Seychelles
• 5th edition of Military Exercise ‘Dharama Guardian’ between India and Japan – Mahajan Field Firing Ranges, Rajasthan
• 12th edition of MILAN Naval Exercise – Visakhapatnam
• Indian Air Force Conduct Exercise Vayu Shakti-2024 – Jaisalmer, Rajasthan.

Exp. 30 March – International Day of Zero Waste

International Day of Zero Waste is celebrated every year on March 30th.

This day aims to raise awareness about reducing waste and promoting zero-waste initiatives to achieve sustainable development.

On 14 December 2022, the United Nations General Assembly adopted a resolution at its seventy-seventh session to proclaim 30 March as International Day of Zero Waste, to be observed annually.

Promoting zero-waste initiatives through this international day can help advance all the goals and targets in the 2030 Agenda for Sustainable Development, including Sustainable Development Goal 11 and Sustainable Development Goal 12.

These goals address all forms of waste, including food loss and waste, natural resource extraction and electronic waste.  

Exp. 30 March – Rajasthan Diwas

Rajasthan Diwas is celebrated every year on 30 March. This year Rajasthan celebrates its 75th anniversary.

On this day in 1949, 19 princely states and 3 states were merged to form the state of Rajasthan after a process that took eight and a half years.

On March 14, 1949, Sardar Vallabhbhai Patel announced the merger of the princely states of Jaipur, Bikaner, Jodhpur, and Jaisalmer in a public meeting in Udaipur. To implement this announcement, Patel inaugurated Greater Rajasthan in a ceremony in Jaipur on March 30, 1949.

Before independence, the region was known as ‘Rajputana’. After the integration of the princely states was completed in seven phases, the name of the region was changed to ‘Rajasthan’.

Today, Rajasthan is the largest state in India in terms of area and is known for its rich history.

Exp. Nobel Prize winner Daniel Kahneman passed away

Daniel Kahneman, a psychologist who pioneered theories in behavioural economics that heavily influenced the discipline, and won him a Nobel prize, has died at age 90.

Kahneman, who wrote bestselling book Thinking, Fast and Slow, argued against the notion that people’s behaviour is rooted in a rational decision-making process – rather that it is often based on instinct.

In 2002, Kahneman was awarded the Nobel memorial prize in economic sciences in recognition for his research in the fields of psychology and economics.