Current Affairs Quiz 6th and 7th July 2024 Quiz

Exp. Amit Shah addressed “Sahkar Se Samriddhi” conference

Union Home Minister and Minister of Cooperation, Amit Shah addressed “Sahkar Se Samriddhi” conference on the occasion of 102nd International Day of Cooperatives in Gandhinagar, Gujarat.

The Ministry of Cooperation organised ‘Sahkar se Samriddhi’ conference on this day to mark the celebration of International Day of Cooperatives 2024.

The International Day of Cooperatives is an annual celebration of the cooperative movement around the world. It has been observed on the first Saturday of July (6 July) ever since 1923 by the International Cooperative Alliance (ICA).

The theme for the 102nd International Cooperative Day is- “Cooperatives Build a Better Future for All.”

Exp. India to host 5G, 6G and Emerging Technologies Hackathon in SeptembWWer

India will host the 5G, 6G, and Emerging Technologies Hackathon in September this year alongside the ‘WTSA24 (World Telecommunication Standardization Assembly) Outreach Sessions’.

The initiative aims to bring together innovators, industry leaders, and academics to explore the frontiers of next-generation telecom technologies. The hackathon will serve as a hub for cutting-edge innovation in telecommunications.

Focused on advancing technologies like 5G and 6G, the event will attract participants from industry, academia, and startups, all aiming to showcase pioneering solutions.

During the 30-hour event to be held in dedicated 5G labs in Delhi, Hyderabad, and Bengaluru, participants will collaborate in a dynamic environment to develop their ideas.

Exp. Annual defence production hits record high of approx. Rs 1.27 lakh crore in FY24

Ministry of Defence has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24.

As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure i.e., Rs 1,26,887 crore, reflecting a growth of 16.7% over the defence production in F24.

The value of defence production in FY 2022-23 was Rs 1,08,684 crore.

Of the total value of production (VoP) in 2023-24, about 79.2% has been contributed by DPSUs/other PSUs and 20.8% by the private sector.

The feat has been achieved due to the policy reforms/initiatives and ease of doing business brought in by the Government in the last 10 years with focus on attaining self-reliance.

In the last five years (since 2019-20), the value of defence production has been increasing steadily, and grown by over 60%.  

Exp. RBI imposes Rs 1.31 Cr penalty on PNB

The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank for non-compliance with certain directions related to KYC and ‘loans and advances’.

The Reserve Bank said it conducted a statutory inspection of the bank concerning its financial position as on March 31, 2022.

This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’.

RBI has also cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position.

On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

Recent Penalties imposed on Banks by RBI

• FIU imposes over Rs 1.66 crore fine on Axis Bank for failing to detect fraud NSG account
• SBM Bank India (88.70 lakh) – for non-compliance with certain regulatory norms
• HSBC (36.38 lakh) – for violating Fema regulations
• ICICI Bank (1 crore) – For non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’.
• YES Bank (91 lakh) – For violation of certain norms on ‘Customer Service in Banks’, and ‘Un-authorised Operation of lnternal/Office.
• Hero Fincorp Ltd (3.10 lakh) – For rule violations

Exp. Shriram Life Insurance launched Deferred Annuity Plan

Private sector life insurer Shriram Life Insurance Company has launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers.

With an annuity plan starting at Rs 60,000 a year, the entry age for the plan is from 40 to 75 years and it includes payable with or without Return of Purchase Price.

Deferment period is from 5 to 10 years after which annuity payments would commence.

The Shriram Life Deferred Annuity Plan aims to fill this gap by providing an income stream and life cover, ensuring financial support for customers and their spouses without relying on their children or others. Its affordable rates cater to entrepreneurs not covered under social security schemes.

Exp. LIC launches agency transformation initiative ‘Jeevan Samarth’

Life Insurance Corporation (LIC) has launched the ‘Jeevan Samarth’, an initiative aimed at transforming the agency ecosystem.

To achieve this, Life Insurance Corporation (LIC) has partnered with a global consulting firm, which will undertake this agency transformation project by reviewing its existing agency framework on an end-to-end basis.

It will also entail revamping the agency operations at the branch, division and zonal level directed towards establishing global best practices in the wake of the fast-changing industry and regulatory landscape of the insurance sector.

Recent Facilities Launched in Banking & Insurance Sector

• Paytm launches ‘Health Saathi’ plan for its merchant partners
• Bajaj Allianz Life launched the Bajaj Allianz Life Nifty Alpha 50 Index Fund to provide investors with exposure to “high-alpha stocks”
• ICICI Bank launches Sapphiro Forex Card for Indian students
• Bajaj Housing Finance launches Sambhav Home Loans for first-time home buyers
• ICICI Lombard launches AI-powered health insurance plan ‘Elevate’

Exp. Keir Stammer elected 58th Prime Minister of the United Kingdom

Keir Starmer has been appointed as the new Prime Minister of the United Kingdom by Monarch King Charles III.

Keir Starmer is the 58th Prime Minister of the United Kingdom.

Keir Starmer’s Labour Party won a landslide victory in the recently held parliamentary election. He replaced the Conservative Party leader, Rishi Sunak, whose party badly lost the election.

About United Kingdom (UK)

• Capital – London
• Currency – Pound sterling
• Prime Minister – Keir Stammer (replace Rishi Sunak)

Newly Appointed Prime Minister & President

• PM of Netherlands – Dick Schoof
• President of Slovakia – Peter Pellegrini
• President of South Africa – Cyril Ramaphosa (2^nd time)
• President of Iceland – Halla Tomasdottir
• President of Mexico – Claudia Sheinbaum (first female Prez of nation)
• President of Lithuania – Gitanas Nauseda

Exp. Government extends tenure of Pradeep S Kharola as CMD of ITPO

The appointments Committee of the Cabinet has extended the tenure of Retired IAS officer, Pradeep Singh Kharola as Chairman and Managing Director of India Trade Promotion Organization.

The Committee has given an extension till 19th October 2025.

Kharola will continue to be chairman of the National Recruitment Agency and Director General of the National Testing Agency (NTA).

Recent Appointment

• DG of Press Information Bureau – Dhirendra Ojha (replace Sheyphali Sharan)
• Chairperson of the National Medical Commission – Dr BN Gangadhar
• President of Medical Assessment and Rating Board – Dr Sanjay Behari
• Maharashtra’s first Woman Chief Secretary – Sujata Saunik (replace Nitin Kareer)
• Chairman of CBDT – Ravi Agrawal (replace Nitin Gupta)

Exp. Foxconn Chairman Young Liu receives Padma Bhushan

Foxconn Chairman Young Liu has received the Padma Bhushan from Manharsinh Yadav of India Taipei Association.

Liu was conferred with Padma Bhushan, the third-highest civilian award, on the eve of the 75th Republic Day this year.

Foxconn is not only expanding its iPhone production facility but is also setting up a chip plant in a joint venture with HCL Group.

Why was Foxconn Chairman Young Liu awarded the Padma Bhushan?

• Foxconn, headquartered in Taiwan, is the world’s largest contract manufacturer, assembling about 70 per cent of all iPhones.
• In the past year, Foxconn has invested heavily in expanding its presence in India, particularly in the southern regions.
• This expansion is part of a broader strategy to reduce reliance on Chinese manufacturing and capitalise on the growing opportunities in the Indian market.

Exp. Agri-entrepreneur Sopna Kallingal received Spice Award 2024

Sopna Kallingal of Kallingal Plantation, Thrissur, has received Spice Award 2024, instituted by ICAR-Indian Institute of Spices Research.

The award has been given to her for her initiatives in enterprise diversification and integrated crop management strategies, promoting a sustainable spice-based cropping system.

Kallingal plantation has a diverse range of crops, embodying a dedication to enterprise diversification and agriculture innovation, according to the award citation.

The priority crop in the Kallingal Plantation is nutmeg. However, through an intercropping method, the plantation has optimised space and productivity, integrating nutmeg trees, coconut palms, areca nut and black pepper vines.

Exp. Bajaj launches world’s first CNG motorbike

Pune headquartered Bajaj Auto has launched the world’s first CNG powered motorcycle.

Priced between Rs 95,000 and Rs 1,10,000, the bike will be available across the country in a phased manner.

Union minister of Road Transport Nitin Gadkari who unveiled the bike talked about the Centre’s commitment to green and clean technology.

India’s automobile industry is the third largest in the world. “Our automobile industry contributes around Rs 3 lakh crore in terms of GST and employs around 4 crore people.

Called Freedom, the CNG powered bike has a 2-kg CNG cylinder and a 2-litre petrol tank. The bike, which has a 125 cc engine, has the longest seat length and state of the art technology.

The bike, which can switch to petrol when gasoline runs low, has been through 11 safety tests. It will be available in Indian markets in a phased manner.  

Exp. 6 July – International Kissing Day

International Kissing Day is observed on 6 July every year.

The day is dedicated to the art of kissing and is a way to express love and intimacy. Kissing is a simple act that can have a profound impact on someone’s life.

International Kissing Day helps us understand the main motive behind the gesture. It can show how much a person means to you. You can express your love and feelings for a person by kissing them.

The history of kissing dates back to 1955 when American and British servicemen in France noticed that French women were more open to kissing than their American and British counterparts.

The term “French kiss” was most likely coined by American and British servicemen in France during World War I. However, it is important to note that the French did not have a specific word for the famous mouth-on-mouth until recently.  

Exp. 6 July – World Zoonoses Day

World Zoonoses Day is observed every year on July 6.

Objective – To raise awareness amongst the public and the stakeholders about the danger of diseases that can be transmitted from animals to humans.

Thee 2024 – One World, One Health: Prevent Zoonoses”

On 6 July 1885, the French biologist Louis Pasteur successfully administered the first rabies vaccine to a 9-year-old boy, Joseph Meiste, who had been bitten by a rabid dog. To mark such a momentous event in medical science, every year, 6 July is observed as World Zoonoses Day.

What is a Zoonotic Disease?

• The root of the Zoonoses word is the Greek word “Zoon” and “nosos”. In Greek “Zoon” means animal, and “nosos” means illness. Thus, Zoonoses refers to a disease that spreads from vertebrate animals to humans and vice versa.
• Vertebrates are animals with a backbone and a central nervous system partly enclosed within the backbone. Vertebrates include mammals (like humans), amphibians, birds, reptiles, and fish.

Exp. Masoud Pezeshkian elected as the new President of Iran

Reformist and moderate leader, Masoud Pezeshkian has been elected as Iran’s new president.

The Interior Ministry of Iran declared him the winner of the presidential run-off against rival Saeed Jalili.

In the run-off presidential election, Masoud Pezeshkian secured 53.7 per cent of the votes, and Jalili got 44.3 per cent.

The presidential election was necessitated in Iran after the death of President Ebrahim Raisi, foreign minister Hossein Amir-Abdollahian, in a helicopter crash on 19 May 2024.

The term of the Iranian President is four years, and he is eligible for re-election.

About Iran

• Capital – Tehran
• Currency – Rial
• President – Masoud Pezeshkian
• Supreme Leader – Ayatollah Sayyed Ali Khamenei