Current Affairs Quiz 5th February 2024 Quiz

Exp. Uttarakhand Police Adopt Self-Balancing e-scooters For Smart Patrols

Abhinav Kumar, Director General of Police, Uttarakhand, has flagged off four cutting-edge self-balancing electric scooters from the Police Headquarters to patrol the vibrant streets of Haridwar.

For the safety of tourists and local citizens, police in Haridwar will patrol with self-balancing scooters.

Donated by Utkarsh Small Finance Bank, these eco-friendly electric scooters are equipped to navigate narrow streets, allowing police personnel to efficiently monitor walking paths, Ganga ghats, and crowded areas of the city.

The partnership between the police department and Utkarsh Small Finance Bank exemplifies a commitment to community welfare and corporate social responsibility.

These scooters, which can move easily in narrow streets, will help in crowd management. Apart from this, this electric scooter is also environment friendly.

About Uttarakhand

• Capital – Dehradun (Winter), Gairsain (Summer)
• Chief Minister – Pushkar Singh Dhami
• Governor – Gurmit Singh

Exp. PM Modi inaugurates CLEA-CASGC 2024 Conference

Prime Minister Narendra Modi has inaugurated the Commonwealth Legal Education Association (CLEA) – Commonwealth Attorneys and Solicitors General Conference (CASGC) 2024 at Vigyan Bhawan, New Delhi.

The theme of the conference is “Cross-Border Challenges in Justice Delivery”.

This conference has deliberated on important issues pertaining to law and justice like judicial transition and the ethical dimensions of legal practice; executive accountability; and revisiting modern-day legal education, among others.

This Conference have participated of Attorney Generals and Solicitors from the Commonwealth nations spanning the Asia-Pacific, Africa, and the Caribbean along with various international delegations.

PM Modi in News

• PM Modi Unveils Infrastructure Boost in Bulandshahr, UP
• PM Modi inaugurates Diamond Jubilee celebrations of Supreme Court
• PM Modi released commemorative postage stamps, book on Ram Temple
• PM Modi inaugurated Boeing’s India Engineering and Technology Center in Bengaluru
• PM Modi inaugurated the 27th National Youth Festival in Nashik, Maharashtra.

Exp. India launches UPI Payments at Eiffel Tower in Paris

India has officially introduced the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris, marking a significant step towards realizing Prime Minister Narendra Modi’s vision of globalizing UPI.

This initiative follows the digital payments sector agreement signed between India and France in July of the previous year, making France the first European country to adopt India’s UPI for retail transactions.

NPCI International Payments (NIPL) has partnered with French e-commerce and proximity payments company, Lyra, to facilitate the acceptance of UPI payments in France. The strategic tie-up ensures a seamless integration of the UPI payment mechanism, starting with the Eiffel Tower.

The UPI is India’s mobile-based payment system developed by the National Payments Corporation of India (NPIL) in 2016. It allows people to make round-the-clock payments through a virtual payment address created by the customer.

UPI is a system that powers multiple bank accounts into a single mobile application of any participating bank, merging several banking features, seamless fund routing and merchant payments into one hood.

Statements

(i) The index is compiled by World Economic Forum. (Incorrect)

(ii) Mukesh Ambani ranked first among all the Indians and second globally in the index. (Correct)

(iii) The score of Mukesh Ambani in index is 81.6. (Incorrect)

(iv) The Index is topped by Huateng Ma. (Correct)

Exp. Mukesh Ambani tops Brand Guardianship Index 2024 among Indians

Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani has been ranked first among all the Indians and second globally in the Brand Guardianship Index 2024 compiled by Brand Finance.

The Brand Guardianship Index is a global recognition of CEOs, who are building business value in a sustainable manner by balancing the needs of all stakeholders – employees, investors, and the wider society.

Ambani was ranked ahead of global majors like Satya Nadella of Microsoft, Google’s Sundar Pichai, Apple’s Tim Cook and Tesla’s Elon Musk, as well as fellow Indians such as N Chandrasekaran of Tata Group and Anish Shah of Mahindra Group, among many others.

Brand Finance’s survey gave Mukesh Ambani a BGI score of 80.3, just below 81.6 of Huateng Ma of China-based Tencent.

Tata Sons Chairman’s N Chandrasekaran is ranked at 5^th, Mahindra and Mahindra’s Anish Shah at 6^th, Infosys’s Salil Parekh at 16^th.

Exp. Digital payments rise 10.94 pc annually at September-end 2023: RBI

Digital payments across the country registered a growth of 10.94 per cent in a year through March 2023, as per RBI’s index that measures the adoption of online transactions.

RBI’s Digital Payments Index (RBI-DPI) stood at 418.77 at end-September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023.

The RBI-DPI index has increased across all parameters and was driven particularly by growth in payment enablers, payment performance and consumer centricity across the country over the period.

The central bank had announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the country.

The index comprises five broad parameters that enable the measurement of the depth and penetration of digital payments in the country over different periods.

These parameters are Payment Enablers (weight 25 per cent); Payment Infrastructure – Demand-side factors (10 per cent); Payment Infrastructure – Supply-side factors (15 per cent); Payment Performance (45 per cent); and Consumer Centricity (5 per cent).

The index is published on a semi-annual basis beginning from March 2021 with a lag of four months.

Exp. Government Boosts Sovereign Gold Bond Issuance to 3,500 Crore in FY 25

The Indian government has decided to substantially increase the issuance of Sovereign Gold Bonds (SGB) for the upcoming fiscal year.

The allocation for SGBs has been more than doubled, rising from ₹1,500 crore in the financial year ending March 31, 2023, to a significant ₹3,500 crore for the fiscal year 2024-25.

Incidentally, gold imports have jumped 20 per cent to 781 tonnes last year even as the run-away prices have suppressed demand, according to the World Gold Council data.

The physical domestic demand for gold still ranges between 700-750 tonnes per annum and has not been impacted much by issuance of SGBs.

Last November, the central bank redeemed the maiden tranche of SGBs, which had more than doubled investment in eight years.

The first tranche of SGB, which was issued at ₹2,684 per gm in November 2015, was redeemed at ₹6,132 per gm. This apart, investors had earned an interest of 2.75 per cent per annum (reduced subsequently to 2.50 per cent).

The next issuance of SGB will be open for subscription between February 12-16. The RBI had issued three SGBs last year in the price range between ₹5,923 and ₹6,199 per gm.

Exp. ESAF Small Finance Bank and Edelweiss Insurance partner to offer Life Insurance

ESAF Small Finance Bank has partnered with a bancassurance collaboration with Edelweiss Tokio Life Insurance.

The partnership plays a crucial role in ESAF Small Finance Bank’s strategy to broaden its range of offerings, demonstrating its commitment to providing financial security to a more extensive segment of the unbanked and under-banked population.

The aim of this partnership is to widen the accessibility of innovative life insurance products, capitalizing on ESAF Small Finance Bank’s strong presence across rural markets in India.

The alliance plays a pivotal role in Edelweiss Tokio Life’s comprehensive multi-channel distribution strategy, setting the stage for establishing new standards in customer-focused insurance services.

About ESAF Small Finance Bank

• Founded- 10 March 2017
• Founders- Paul Thomas, Mereena Paul, Jacob Samuel
• Headquarters– Thrissur, Kerala
• MD & CEO – Paul Thomas K

Recent MoUs Signed in Banking Sector

• IREDA and Indian Overseas Bank ink pact to co-finance renewable energy projects
• Rural Development Ministry signs pact with SBI to facilitate loans for SHGs
• REC Limited and Bank of Baroda join hands to finance Power, Infra, and Logistics Projects
• NABARD and ADB jointly launch climate action initiative in India with Bill and Melinda Gates Foundation
• SBI to sign $165 million LoC with World Bank for rooftop solar projects

Exp. UPI transactions reach a record Rs 18.41 trillion in January: NPCI

Unified payments interface (UPI) has started 2024 on a strong note, with transaction spends staying over the ₹18-lakh crore mark and touching a new record high.

Transactions worth ₹18.41-lakh crore were processed during January, nearly 1 per cent higher than the previous record of ₹18.23-lakh crore in December 2023. The value of transactions was 42 per cent higher on year, as per data by the National Payments Corporation of India (NPCI).

The number of transactions on the UPI network remained flat on month at 1,202 crore for January. On year, the volume of transactions was 52 per cent higher.

On-year growth in UPI transactions has consistently remained over 40 per cent for the value of transactions and above 50 per cent for volume of UPI trades in 2023 and FY24 so far.

In FY23, the UPI platform processed 8,376 crore transactions aggregating ₹139-lakh crore. Over 11,765 UPI transactions worth ₹182.25-lakh crore were processed in 2023, up 59 per cent in terms of volume and 45 per cent in terms of value compared with 2022.

UPI transactions are expected to breach 100 crore transactions per day by FY27, as per a report by PwC India, which projects UPI to dominate the retail digital payments landscape, accounting for 90 per cent of total transaction volumes over the next five years.

Exp. India finished fifth at FIH Hockey5s World Cup

The first ever men’s  FIH Hockey5s World Cup came to a thrilling conclusion with the Netherlands overcoming Malaysia to lift the trophy.

Malaysia can be justifiably proud of their silver medal.

Six of their players were part of the squad that clinched the gold medal at the 2018 Youth Olympic Games in Buenos Aires, which was played in the Hockey5s format.

Earlier, India had a point to prove against Egypt, having lost to them in the pool stage, and they came out firing in a 6-4 win for 5th place.

Men’s Hockey5s World Cup 2024

• Host Country – Oman
• Teams – 16
• Winner – Netherland
• Runner Up -Malaysia
• 3^rd place – Oman
• Top Scorer – Waheed Rana (Pakistan, 23 goals)
• Best Player – Akhimullah Annur (Malaysia)
• Best Young Player – Hannan Shahid (Pakistan)
• Best Goal Keeper – Joey van Walstijn (Netherlands)

Exp. Bandhan Bank appoints Santosh Nair as its consumer lending and mortgages head

Bandhan Bank has appointed Santosh Nair, chief executive of HDFC Sales Private Limited, as the head of its consumer lending and mortgages.

Bandhan Bank’s Shantanu Sengupta will step down from the post of Head. However, he will assist the bank in a smooth transition and will leave the organisation in early FY2024–25 to pursue opportunities outside the bank.

Nair, a veteran with over three decades of experience in banks and financial services companies, will drive Bandhan Bank’s housing finance portfolio and also the retail lending franchise and distribution.

Earlier, Santosh Nair was the CEO of HDFC Sales and also worked at HDFC and HDFC Bank in his three decades of experience in the industry.

About Bandhan Bank

• Founded – 2001
• Founder – Chandra Shekhar Ghosh
• Headquarters – Kolkata
• MD & CEO – Chandra Shekhar Ghosh
• Chairperson – Anup Kumar Sinha

Recent Appointment in Banking & Insurance Sector

• Non-executive chairman of AU Small Finance Bank – HR Khan (replace Raj Verma)
• Executive Director of Bank of Baroda – Sanjay Vinayak Mudaliar
• Executive Director of Indian Overseas Bank – Joydeep Dutta Roy
• MD & CEO of DCB Bank – Praveen Achuthan Kutty (replace Murali Natrajan) effect from 29/4/24
• Deputy Governor of RBI – Michael Patra (1 year extension)

Exp. Indian Air Force to conduct Exercise Vayu Shakti-2024

The Indian Air Force will be conducting Exercise Vayu Shakti-24 on 17 February 2024 at the Pokhran Air to Ground Range, near Jaisalmer, Rajasthan.

The last edition of exercise Vayu Shakti was held on 16 February 2019.

The exercise will also showcase joint operations with the Indian Army.

This year, the exercise will see participation by 121 aircraft, including the indigenous Tejas, Prachand and Dhruv. Other participating aircraft would include the Rafale, Mirage-2000, Sukhoi-30 MKI, Jaguar, Hawk, C-130J, Chinook, Apache and Mi-17.

Indigenous Surface to Air Weapon systems Akash and Samar will demonstrate their capability to track and shoot down an intruding aircraft.

Exercise Vayu Shakti will be a demonstration of the IAF’s capability to deliver weapons with long range, precision capability as well as conventional weapon accurately, on time and with devastating effect, while operating from multiple air bases.

Recent Exercise

• 1st edition of Military Exercise – SADA TANSEEQ between India & Saudi Arabia – Rajasthan
• Desert Knight Exercise between India, France, UAE – over Arabian Sea
• 11th edition of Khanjar Exercise between India-Kyrgyzstan – Bakloh, Himachal Pradesh
• 2nd edition of ‘Cyclone’ exercise between India and Egypt – Anshas, Egypt
• 1st edition of Navy Exercise ‘Ex-Ayutthaya’ between India & Thailand

Exp. Russian cosmonaut sets world record for time spent in space

Russian cosmonaut Oleg Kononenko has broken the world record for the most cumulative time spent in space,Russia Space agency Roscosmos reported.

The 59-year-old has now spent more than 878 days and 12 hours in space, surpassing fellow Russian Gennady Padalka, who set the previous record of 878 days, 11 hours, 29 minutes, and 48 seconds in 2015.

Kononenko has made five journeys to the International Space Station, dating back to 2008.

Kononenko’s current trip to the ISS began on September 15, 2023, when he launched alongside NASA astronaut Loral O’Hara and Roscosmos compatriot Nikolai Chub. By the end of this expedition, the cosmonaut is expected to become the first person to accumulate 1,000 days in space.

Exp. Jagdeep Dhankhar Released the book titled ‘9 Incredible Years of Haryana Government

Vice President Jagdeep Dhankhar has released a book titled “9 Incredible Years of Haryana Government: Emergence of a New and Vibrant Haryana” in Surajkund, Faridabad.

The book encapsulated perspectives from individuals occupying various positions in politics, education, social work, administration and the judiciary.

Insightful contributions from intellectuals regarding the state government’s initiatives for the nation and society are also featured in the book.

Recent Books

• Ek Samandar, Mere Andar – Sanjeev Joshi
• Pranab My father – Sharmistha Mukherjee
• The Cooking Books – Ramchandra Guha
• Conversations with Aurangzeb – Charu Nivedita (translated by Nandini Krishnan)
• Assam’s Braveheart Lachit Barphukan – Arup Kumar Dutta (launched by Amit Shah)
• Fertilising the Future – Dr. Mansukh Mandaviya (launched by VP Jagdeep Dhankhar)

Exp. 4 February – World Cancer Day

World Cancer Day is observed globally on February 4 each year.

Objective – To raise awareness about cancer, its prevention, and the importance of early detection.

The theme for the 2022-2024 period is “Close the Care Gap: Everyone Deserves Access To Cancer Care.

The sub-theme, “Together, we challenge those in power,” emphasizes accountability from leaders to allocate essential resources for eradicating cancer.

The history of World Cancer Day dates back to the World Summit Against Cancer in Paris in 1999, where the concept was proposed. The Charter of Paris Against Cancer was signed on February 4, 2000, during the follow-up World Summit, officially marking the first observance of World Cancer Day.

The charter aimed to underscore the importance of global cooperation in the battle against cancer, addressing issues related to care and research.

Exp. Namibia’s President Hage Geingob passes away

Namibia’s President Hage Geingob passed away at the age of 82 in Windhoek.

Geingob, who was serving his second term as President, revealed last month that he was receiving treatment for cancer.

First elected president in 2014, Geingob was Namibia’s longest serving prime minister and third president.

In 2013, Geingob underwent brain surgery, and last year he underwent an aortic operation in neighbouring South Africa.

About Namibia

• Capital – Windhoek
• Currency – Namibian dollar, South African rand
• Prime Minister – Saara Kuugongelwa
• Official language – English