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Questions and Answers
What initiative was launched by Mansukh Mandaviya?
How much were the capital acquisition proposals approved by the Defence Acquisition Council worth?
Which organization signed a MoU to promote energy efficiency across India?
What did the Department of Telecommunications rename the Universal Service Obligation Fund to?
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What is the goal of the Telecommunications (Administration of Digital Bharat Nidhi) Rules, 2024?
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What new feature was introduced by Google Pay?
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Which bank partnered with RuPay to launch a multi-brand co-branded credit card?
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What is the unique feature of the UPI-ATM system?
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What is the primary purpose of the 'ICICI Pru Signature Pension' product?
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What is the term limit for the BOI's Star Dhan Vriddhi FD scheme?
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Which event was the platform for launching the YEB BANK POP-CLUB RuPay Credit Card?
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What type of transactions can be performed using the UPI-ATM?
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Which financial sector does POPtech Growth Private Limited operate in?
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What organization is associated with the development of the Notary Portal in India?
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What is the purpose of the MoU signed between the Comptroller and Auditor General of India and Saudi Arabia?
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In which city did the 2nd meeting of the Joint Russian-Indian Commission on Emergency Management take place?
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Which country's National Security Adviser visited Colombo to sign the founding documents of the Colombo Security Conclave?
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Which countries are involved in the establishment of the CSC Secretariat in Colombo?
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What amount has Adani Green Energy committed for the wind power project in Sri Lanka?
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What does the CSC stand for in the context of the regional security grouping?
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In which year will India host the 3rd meeting of the Indo-Russian Joint Commission on Emergency Management?
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What is the duration of the PM's visit to Brunei?
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How much is the contract signed by MCA-Nepal with Transrail Lighting Limited worth?
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Which Indian aircraft participated in the 22nd edition of Exercise VARUNA?
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What type of line is being constructed under the contract between MCA-Nepal and Transrail Lighting Limited?
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Which forum were the leaders of India and Brunei interested in boosting cooperation?
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What is the distance of the electricity transmission line being constructed?
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Who jointly funded the contract for the construction of the transmission line?
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Where did the P-8I aircraft arrive for the naval exercise?
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What company received final authorisation from the Reserve Bank of India to act as a Payment Aggregator?
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What unique financial product did Motilal Oswal Mutual Fund launch?
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What significant change occurred to Kotak Mahindra General Insurance Company Limited in June 2024?
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Which accreditation does Paysharp Private Limited hold?
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What technological innovation was introduced by Hitachi Payment Services in collaboration with NPCI?
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Study Notes
MoYAS Launches RESET Program
- The Ministry of Youth Affairs and Sports (MoYAS) launched the Retired Sportsperson Empowerment Training (RESET) program.
DAC Approves 10 Capital Acquisition Proposals
- The Defence Acquisition Council (DAC) approved 10 capital acquisition proposals worth Rs 1,44,716 crore, focusing on enhancing India's defense preparedness.
- The DAC is chaired by Union Minister Rajnath Singh of the Ministry of Defence (MoD).
NTH and BEE Sign MoU for Energy Efficiency
- The National Test House (NTH) under the Department of Consumer Affairs (DCA), Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD) and the Bureau of Energy Efficiency (BEE), a statutory body under the Ministry of Power (MoP) signed a Memorandum of Understanding (MoU) to promote energy efficiency across India.
- The MoU aims to strengthen the Standards & Labelling (S&L) Program.
DoT Notifies New Rules for 'Digital Bharat Nidhi'
- The Department of Telecommunications (DoT), Ministry of Communication (MoC) has notified the ‘Telecommunications (Administration of Digital Bharat Nidhi) Rules, 2024’ to boost telecom access.
- These new rules aim to enhance the management and implementation of the ‘Digital Bharat Nidhi (DBN)’ initiative, which was established under Section 24(1) of the Telecommunications Act, 2023.
- The Universal Service Obligation Fund (USOF), originally established by the Indian Telegraph Act of 1885, has been renamed as the DBN.
India Signs MoU with Saudi Arabia
- The Comptroller and Auditor General of India (CAG) signed a Memorandum of Understanding (MoU) with the General Court of Audit, Kingdom of Saudi Arabia to enhance bilateral cooperation and exchange expertise in the field of public sector auditing.
NSA Ajit Kumar Doval Visits Colombo
- Ajit Kumar Doval, National Security Adviser (NSA) to the Prime Minister (PM) of India visited Colombo (Sri Lanka) for the signing of the Founding Documents of the Colombo Security Conclave (CSC), a regional security grouping.
- India, the Maldives, Mauritius, and Sri Lanka signed a Charter and a Memorandum of Understanding (MoU) for the establishment of the CSC Secretariat in Colombo, Sri Lanka.
- Santosh Jha, High Commissioner of India to Sri Lanka, handed over the 1st payment for India-backed hybrid energy projects in the Delft, Nainativu, and Analaitivu islands off the Jaffna peninsula, Sri Lanka.
- Adani Green Energy has committed over USD 440 million for a wind power project in northern Sri Lanka.
Second Meeting of Joint Russian-Indian Commission
- The 2nd meeting of the joint Russian-Indian Commission on the Cooperation in the Field of Emergency Management was held in Moscow, Russia.
- India will host the 3rd meeting of the Indo-Russian Joint Commission on the Cooperation in the Field of Emergency Management in 2026.
- The commission aims to address underfunding in humanitarian emergencies across 10 countries in Africa, the Americas, Asia, and the Middle East.
MCA-Nepal Signs USD 12.36 Million Contract with India
- The Millennium Challenge Account (MCA) Nepal has signed a contract valued at USD 12.36 million with Transrail Lighting Limited (TLL) of India to construct an 18 kilometre (km) cross-border electricity transmission line.
- The contract was signed under the Millennium Challenge Corporation (MCC) Nepal Compact and was jointly funded by the government of Nepal and the United States of America (USA).
Indian Navy's P-8I Aircraft Participates in VARUNA 2024
- The Indian Navy's (IN) P-8I aircraft has arrived at Air Base 125 Istres-Le Tube in France, marking its first deployment in Europe, to participate in the 22nd edition of Exercise‘VARUNA’ (2024), an Indo-French Bilateral Naval Exercise.
POP Launches India's First Multi-Brand Co-Branded Credit Card
- POPtech Growth Private Limited (POP), a Fintech startup launched India's first multi-brand co-branded credit card, ‘YEB BANK POP-CLUB RuPay Credit Card’ in partnership with RuPay and Yes Bank Limited.
- It was launched at the 2024 Global Fintech Festival (GFF), Mumbai (Maharashtra) in the presence of Amit Sinha, Head of Yes Bank's credit card sales and partnerships, and Nalin Bansal, Chief of Corporate and Fintech Relationships at National Payments Corporation of India (NPCI).
Axis Bank Introduces Innovative Digital Solutions
- Axis Bank Limited launched two innovative digital solutions - ‘Unified Payments Interface-Automated Teller Machine(UPI-ATM)’ and ‘Bharat Connect for Business’ at the Global Fintech Fest (GFF) 2024 in Mumbai, Maharashtra.
- UPI-ATM is a cardless cash withdrawal and deposit system using any UPI application (app).
- It is India’s first Android Cash Recycler integrated with UPI, allowing customers to perform both Interoperable Cardless Cash Deposit (ICD) and Interoperable Cardless Cash Withdrawal (ICCW) transactions using any UPI-enabled application.
ICICI Prudential Life Insurance Launches ‘ICICI Pru Signature Pension’
- Mumbai (Maharashtra) based ICICI Prudential Life Insurance Company Limited launched ‘ICICI Pru Signature Pension’, a market-linked pension product that enables customers to create a cost and tax-efficient retirement plan.
BOI Launches 333-Day Star Dhan Vriddhi FD Scheme
- Bank Of India (BOI) launched a Fixed Deposit (FD) scheme called ‘Star Dhan Vriddhi’, a term limit of 333 days effective from 1 September 2024.
- The scheme offers higher interest rates and was launched by Rama Subramaniam Gandhi, a former Deputy Governor of the Reserve Bank of India (RBI).
Paysharp Receives Final Authorisation from RBI
- Chennai (Tamil Nadu, TN) based Fintech startup Paysharp Private Limited received the final authorisation from the Reserve Bank Of India (RBI) to act as a Payment Aggregator (PA).
- Paysharp received the in-principal PA licence in December 2022.
- The company holds the International Organization for Standardization (ISO) 27001:2022 and System and Organization Controls (SOC) 2 accreditations.
Motilal Oswal Launches India's First 500 Momentum 50 Index Fund
- Motilal Oswal Mutual Fund (MOMF), managed by Motilal Oswal Asset Management Company Ltd. (MOAMC), launched its New Fund Offer (NFO), the ‘Motilal Oswal Nifty 500 Momentum 50 Index Fund’.
- This is India's first 500 Momentum 50 Index fund.
Hitachi Payment Services & NPCI Introduced India’s First Android-Based CRM ATM
- Mumbai (Maharashtra) based Hitachi Payment Services Private Limited introduced India’s first Android-Based Cash Recycling Machine (CRM) Automated Teller Machine (ATM) in collaboration with Mumbai based National Payments Corporation of India (NPCI) at the Global Fintech Fest (GFF) 2024 in Mumbai.
Kotak General Insurance Rebrands as Zurich Kotak General Insurance
- Mumbai (Maharashtra)-based Kotak Mahindra General Insurance Company Limited re-branded itself as Zurich Kotak General Insurance Company (India) Limited, following Zurich Insurance Group’s 70% acquisition of Kotak Mahindra General Insurance Company Limited in June 2024.
- The brand symbolises a commitment to trust, innovation, integrity, and customer excellence.
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Description
This quiz explores recent initiatives and proposals launched by various ministries in India, including the MoYAS's RESET program for retired sportspersons and the DAC's approval of capital acquisition proposals for defense. Additionally, it touches on energy efficiency collaborations between NTH and BEE, and the new rules notified by the DoT for Digital Bharat Nidhi.
