Daily Current Affairs Quiz – 11th September 2024

Correct Answer:  (d) Abu Dhabi Emirate

Explanation:  India and Abu Dhabi Emirate signed five memorandums of understanding (Mou)/agreements to strengthen cooperation in fossil fuels, the nuclear sector, and food parks. These agreements were signed during the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s official visit to India. The Crown Prince was on his first official visit to India on September 9 and 10, 2024. He visited New Delhi on September 9  to meet Indian political leaders and  Mumbai on September 10 to boost economic and business ties. Abu Dhabi Emirates is one of the seven emirates of the United Arab Emirates (UAE). It comprises about three-fourths of the UAE’s land area and is the centre of the UAE oil and gas industry.

The Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met Prime Minister Narendra Modi in New Delhi. During the meeting between the two leaders, five MoUs/agreements were signed between India and Abu Dhabi.

Long-term supply of LNG 

• Abu Dhabi National Oil Company (ADNOC) will supply one million metric tonnes per annum (MMTPA) of LNG(liquefied natural gas) to the  Indian Oil Corporation Limited.
• This is the third agreement between an Indian company and ADNOC in the past year.
• IOCL and GAIL had previously signed long-term agreements with ADNOC to supply 1.2 MMTPA and 0.5 MMTPA of LNG, respectively.

MoU between ADNOC and India Strategic Petroleum Reserve Limited

• Currently, ADNOC has leased 0.75 million tonnes of oil storage capacity in the ISPRL’s Mangalore oil cavern storage facility.
• Under the new MoU, ADNOC will explore further opportunities in oil storage with ISPRL.

MoU on Nuclear Cooperation

• MoU was signed between Nuclear Power Corporation of India Limited (NNPCIL) and Emirates Nuclear Energy Corporation (ENEC).
• The UAE has a 5.6 GW nuclear power plant at Barakah, Abu Dhabi.
• This MoU will facilitate cooperation in operating and maintaining nuclear power plants, sourcing nuclear goods and services from India, exploring mutual investment opportunities, and capacity building.

Concession on Abu Dhabi Onshore Block 1 

• An MoU was signed between the Indian company Urja Bharat and ADNOC for the Abu Dhabi Onshore Block 1 oil field.
• Under the MoU, the Indian company will be able to bring oil from Abu Dhabi Onshore Block 1 to India.
• This is the first time an Indian company will be allowed to bring crude oil from Abu Dhabi oil fields.
• Urja Bharat is a joint venture of IOCL and Petro Bharat Resources Limited. The company operates oil blocks in the Abu Dhabi Onshore Block 1 oil fields.

MoU on Food Park 

• The Government of Gujarat and Abu Dhabi Developmental Holding Company PJSC (ADQ) signed an MoU to develop food parks in Gundanpara, Bavla, and Ahmedabad.
• Abu Dhabi will invest in these food parks.
• The project is expected to start in the second quarter of 2025.

Correct Answer:  (c) HDFC Bank, Axis Bank

Explanation:  The Reserve Bank of India (RBI) has fined the largest private sector bank, HDFC Bank, and the third largest private bank, Axis Bank, for non-compliance with the RBI’s regulatory norms. The RBI announced the monetary penalties on these two banks in September 2024.  The Banking Regulation Act of 1949 makes the RBI the regulator of the banks in India and gives it the power to punish banks that fail to follow its rules and regulations.

• The RBI fined Axis Bank Rs 1.91 crorefor violating the provisions of the Banking Regulation Act 1949 regarding the opening of savings accounts for ineligible persons, failing to issue unique customer identification codes (UCIC), and improperly managing collateral for agricultural loans up to Rs 1.60 lakh.RBI also fined the bank for its subsidiary’s conduct in violating RBI’s norms.
• The RBI fined HDFC Bank Rs 1 crore for failing to follow RBI’s instructions regarding deposit interest rates, recovery agents, and customer service practices. The bank was found guilty of paying first-year premiums for the life insurance policies of some of its customers, opening accounts for ineligible entities, and failing to follow customer contact guidelines.

Correct Answer:  (c) New Delhi

Explanation:  New Delhi hosted the  2nd Asia Pacific Ministerial Conference on Civil Aviation on 11 and 12 September 2024. The first Asia Pacific Ministerial Conference on Civil Aviation was held in Beijing, China, in 2018. The economically dynamic Asia-Pacific region is a major contributor to global air traffic, with India being one of the world’s fastest-growing passenger aviation markets. The 2nd Asia Pacific Ministerial Conference on Civil Aviation was inaugurated by the Union Minister for Civil Aviation, Kinjarapu Rammohan Naidu. Union Minister of State for Civil Aviation and Cooperation Murlidhar Mohol, President of the International Civil Aviation Organization (ICAO) Salvatore Sciacchitano, Secretary of the Ministry of Civil Aviation Shri Vumlunmang Vualnam, and other distinguished delegates were present.

• The Union Ministry of Civil Aviation,in partnership with the International Civil Aviation Organization (ICAO) Asia Pacific Office(APAC), has organised the 2nd  Asia Pacific Ministerial Conference on Civil Aviation. APAC is the regional office of the ICAO in the Asia Pacific region.
• Around 250 representatives from 29 countries, including Japan, South Korea, and Vietnam, are participating in the second Asia Pacific Ministerial Conference on Civil Aviation in New Delhi.  However no representative from Pakistan is participating in the conference.
• The second Asia Pacific Ministerial Conference on Civil Aviation will discuss issues related to the safety and growth of the civil aviation sector in the region.  The civil aviation industry in the Asia Pacific region has huge potential and vast growth opportunities due to the growing middle class, growth in population and tourism, higher disposable incomes, favourable demographics, and rapid development of aviation infrastructure.

About ICAO and ICAO APAC

• The International International Civil Aviation Organization (ICAO) was set up in 1944 as a United Nations agency.
• It works to develop a safe and sound global aviation system by setting the rules and standards,
• Currently, 193 countries are members of the ICAO.
• Headquarters: Montreal Canada
• President: Salvatore Sciacchitano
• The ICAO has set up seven regional offices around the world for better coordination among its member countries.
• For the Asia Pacific region, ICAO established the Asia Pacific Office(APAC) in 1948in Melbourne, Australia.
• It was later shifted to Bangkok, Thailand, from Australia in 1955.
• At present, 39 countries are members of the APAC.

Correct Answer:  (b) Union Bank of India

Explanation:  Union Bank of India (UBI) became the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF), which aims to help financial institutions measure and report greenhouse gas (GHG) emissions from their investments and loans. This move aligns with the Reserve Bank of India (RBI)’s new draft disclosure framework on climate-related financial risks, which requires banks to report by April 2025 and meet specific climate targets by April 2027. Union Bank aims to disclose its portfolio’s GHG emissions by FY2027-28 using PCAF’s methodology.

• Financed emissions (Scope 3) from lending and investments outweigh operational emissions and are crucial for banks to track.
• RBI’s framework mandates disclosures in governance, strategy, risk management, and metrics/targets.
• PCAF helps financial institutions harmonize GHG reporting globally.
• PCAF supports India’s Nationally Determined Contributions and the Paris Agreement.

Through this, Union Bank will set standards in sectors like agriculture and microfinance, where emission standards are still developing.

Correct Answer:  (c) 2020

Explanation:  Sahitya Akademi Awardee and renowned English teacher, translator K. Chellappan passed away at the age of 88 in Chennai, Tamil Nadu (TN). He was born in 1936. In 2020, he was honoured with Sahitya Akademi Award for his translation of Rabindranath Tagore’s Novel ‘Gora’ from Bengali to Tamil. Chellappan has won several literary awards such as Poet Bharathidasan Award, Tamil Chemmal Award and the Best Teacher Award. In 2017, he also received the Lifetime Achievement Award for Translation and Best Translator Award by the Government of TN .

• Chellappan was the former Professor and Head, Department of English, Bharathidasan University (BDU), Trichy, TN.
• He has published numerous papers in journals such as New Comparison and New Helikan.
• His noted works include the World as a Stage: Shakespearean Transformations; R.K. Narayan: The Ironic Mythmaker; Literature within/across the walls: Comparative studies in classical and modern Tamil Literature; and Tagore, Bharathi, and T.S. Eliot: Towards Creative Unity (Tagore lectures).
• He has also translated many Tamil books, including Kuraloviyam, Thenpandi Singam and Meesai Mulaithal Vayathil written by former TN Chief Minister(CM) M Karunanidhi, into English.
• He has also served as the editor of the Tamil Section of Sakitya Akademy’s journal Dhakshina.

Correct Answer:  (b) “Changing the Narrative on Suicide”

Explanation:  World Suicide Prevention Day (WSPD), celebrated annually on 10 September, is organized by the International Association for Suicide Prevention (IASP) and endorsed by the World Health Organization (WHO). The overall goal of this day is to raise awareness about suicide prevention worldwide. Objectives include promoting stakeholder collaboration and self-empowerment to address self-harm and suicide through preventative action. The theme of World Suicide Prevention Day 2024-2026 is “Changing the narrative on suicide”.

World Suicide Prevention Day (WSPD) was established in 2003 by the International Association for Suicide Prevention in conjunction with the World Health Organization (WHO). The 10th of September each year focuses attention on the issue, reduces stigma and raises awareness among organizations, government, and the public, giving a singular message that suicide can be prevented.

Correct Answer:  (c) 45th

Explanation:  In a solemn and significant ceremony held today at the Office of the President, Sheetal Niwas, Ashok Raj Sigdel was officially sworn in as the 45th Chief of the Army Staff (CoAS) of the Nepali Army. This momentous occasion marks a new chapter in Nepal’s military leadership and underscores the nation’s commitment to its armed forces. President Ramchandra Paudel, in his capacity as the Supreme Commander of the Nepali Army, presided over the ceremony. The President’s role in administering the oath highlights the civilian oversight of the military, a cornerstone of Nepal’s democratic system.

Correct Answer:  (a) Shubhi Gupta

Explanation:  India’s Shubhi Gupta clinched the girls U-16 gold and girls U-20 bronze medals in the just-concluded Commonwealth Chess Championships in Kalutara, Sri Lanka. Shubhi Gupta scored eight points out of a possible nine in U-18 Category and won Gold Medal. Mrittika Mallick (7 points) won Silver and Yashvi Jain (6.5 points) won Bronze medal. Shubhi scored 4.5 points to finish in third place in the U-20 girls’ division, securing her a bronze medal.

Correct Answer:  (a) Algeria

Explanation:  Abdelmadjid Tebboune has been re-elected as the President of Algeria for the 2nd term (2024-2029). He has been serving as the President of Algeria since 2019. According to the National Independent Authority for Elections(NIAE), as an Independent candidate, Abdelmadjid Tebboune won the presidential election by securing 94.7% of the votes. The turnout of the election was 48%.

Abdelmadjid Tebboune was appointed as the President of Algeria in 2019 replaced interim President Abdelkader Bensalah. He has served as the Prime Minister (PM) of Algeria from May 2017 to August 2017. He has served as the Minister of Housing and Urban Planning and the City in Algeria from 2001 to 2002 and from 2012 to 2017. He was associated with the National Liberation Front (FLN) from 1991 to 2018.

Correct Answer:  (b) Brazil

Explanation:  Sergio Mendes was a legendary Brazilian musician known for his contributions to Brazilian music. He passed away at the age of 83 in Los Angeles. Mendes had been struggling with long-term COVID before his death. He was celebrated for bringing Brazilian music to a global audience with his elegance and joy. Sergio Mendes was a prominent pianist, composer, and arranger who shaped the sound of Brazilian music globally. His last performance was in November 2023 in cities like Paris, London, and Barcelona.

Correct Answer:  (b) 18 and 40 years

Explanation:  Launched on September 12, 2019, the Pradhan Mantri Kisan Maandhan Yojna (PM-KMY) has provided social security to all land-holding Small and Marginal Farmers (SMFs) nationwide. This old-age pension scheme is a voluntary and contributory pension scheme. Under the initiative, eligible small and marginal farmers are given a fixed monthly pension of Rs. 3,000 after attaining the age of sixty.

 To qualify, farmers contribute monthly to the pension fund during their working years, with matching contributions from the central government. This landmark scheme to provide a safety net to farmers in their old age has completed five years of its implementation. Under Pradhan Mantri Kisan Maandhan Yojna (PM-KMY), small and marginal farmers can enroll by paying a monthly subscription to the Pension Fund. Farmers aged between 18 and 40 years need to contribute between Rs. 55 to Rs. 200 per month until they turn 60.

Correct Answer:  (d) Subrata Mondal

Explanation:  Subrata Mondal has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of IFFCO Tokio General Insurance Company Limited (ITGI). He replaced H O Suri, who has been serving as the MD & CEO of ITGI since October 2021. Prior to this position, he served as the Chief Underwriter at ITGI overseeing underwriting across multiple business lines.

• Subrata Mondal has been associated with ITGI since 2001.
• Prior to joining IFFCO Tokio, he held key positions at National Insurance Company Limited (NICL).
• He has also worked at Steel Authority of India (SAIL) as a Shift Engineer at the Durgapur Steel Plant in Durgapur, West Bengal (WB).

Correct Answer:  (a) Daava Soochak

Explanation:  The Deposit Insurance and Credit Guarantee Corporation (DICGC) has launched an online tool Daava Soochak for depositors to track their claim status. The DICGC’s mandate since its inception has been the reimbursement of insured amounts to depositors of failed banks. Daava Soochak, a user-friendly online tool, is part of DICGC’s ongoing commitment to improving the services provided for depositors.  To begin with, depositors can view the status of their claims for banks placed under All Inclusive Directions (AID) post-April 01, 2024. The corporation ensures that all categories of deposits with banks except institutional deposits.

 The deposit insurance coverage limit has been enhanced six times since 1962, from Rs 1,500 per depositor held in the same right and same capacity at all the branches of the insured bank to Rs 5,00,000 on February 04, 2020. At present, 97.8 per cent of the total deposit accounts are fully protected. Of the remaining 2.2 percent of accounts, deposits are insured up to the limit of Rs 5 lakh. In terms of value, 43.1 percent of the deposits were insured as of March 2024. In the case of liquidated banks and banks under the Reserve Bank’s All-Inclusive Directions (AIDs), the DICGC settled claims amounting to Rs 1,432 crore during 2023-24.

Correct Answer:  (d) Switzerland

Explanation:  Switzerland has retained its position as the world’s best country in the Best Countries Ranking 2024 by US News & World Report, marking its third consecutive year at the top. The ranking is based on various sub-rankings, including quality of life, openness to business, and cultural influence, with Switzerland performing well across these metrics but ranking lowest in heritage.

• India has dropped to 33rd place, falling three spots from last year’s ranking.It performed best in the ‘movers’ and heritage categories but lagged in social purpose and adventure.
• Japan, USA, Canada, and Australia follow Switzerland in the top five positions. Only a few Asian countries, including Japan, Singapore, China, and South Korea, made the top 25.
• The ranking is derived from a survey of 16,960 individuals across 36 countries, assessing countries on various qualitative attributes related to their success and stability.
• Switzerland’s consistent performance in multiple sub-rankings, rather than excelling in a single area, contributes to its top ranking.

Correct Answer:  (a) China and Russia

Explanation:  China and Russia will conduct joint naval and air exercises named “Northern United-2024” starting this month, as announced by China’s Ministry of National Defense. The drills will be conducted in the Sea of Japan and the Sea of Okhotsk. The two navies will also perform joint cruising in the Pacific and participate in Russia’s “Great Ocean-24” exercise. The exercises aim to bolster strategic cooperation between China and Russia, enhancing their joint capabilities to address security threats. China has maintained a supportive stance towards Russia amidst its ongoing invasion of Ukraine, refraining from criticism and blaming the U.S. and NATO for the conflict.

• China has become a vital economic partner for Russia, purchasing Russian oil and gas and supplying various goods, including those with dual civilian and military uses.
• The joint exercises reflect the strategic alignment of Russia and China, both challenging the Western-led liberal democratic order. Russia seeks Chinese support to enhance its Pacific influence, while China has received backing for its territorial claims, including in the South China Sea.
• China views the Taiwan Strait as its territory, opposing foreign naval activities that it perceives as provocations. The U.S. and other countries consider it international waters, highlighting ongoing geopolitical tensions.