EDIFY WITH VIJJU

Crack All Exam with Us

[ UPSC | SSC | BANKING | RAILWAY | GOVT EXAMS ]

Current Affairs

JOIN US: Youtube WhatsApp Telegram Instagram FB

1
Ques : What are Derivatives in finance?
वित्त में डे रििेविि क्या हैं ?

(a) Financial contract / वित्तीय अनुबंध

(b) Mutual agreements / आपसी समझौते
(c) Lease agreement / लीज समझौता
(d) Third party agreement / तृतीय पक्ष समझौता
(e) None of these / इनमें से कोई नहीं

Answer : Option A

Explanation :

• The term derivative refers to a type of financial contract whose value is dependent on an
underlying asset, group of assets, or benchmark.

• These contracts can be used to trade any number of assets and carry their own risks.

• Common derivatives include futures contracts, forwards, options, and swaps.

• Their prices are determined by fluctuations in the underlying asset.

• Underlying assets for derivatives can range from stocks, bonds, commodities, currencies,
and interest rates to market indexes.

• Derivatives are broadly categorised into two types: exchange-traded derivatives, which
adhere to standardised terms and are traded on stock exchanges, and over-the-counter
derivatives, which are privately negotiated between counterparties without the involvement
of a formal intermediary.

JOIN US: Youtube WhatsApp Telegram Instagram FB

2
Ques : Income Tax Department Issues Demands of Rs. 770 Crores to ____.
आयकि विभाग ने 770 किोड़ रुपये की माांग ____ से जािी की है।

(a) Indian Overseas Bank /

(b) Tamilnad Mercantile Bank /
(c) Karur Vysya Bank /
(d) Both A and B
(e) All A, B and C

Answer : Option E

Explanation :

• Income Tax Department Issues Demands of Rs. 770 Crores for the assessment year 2022-23
to Indian Overseas Bank, Tamilnad Mercantile Bank and Karur Vysya Bank.

• Indian Overseas Bank (IOB) received a demand notice of ₹620 crore due to certain
additions and disallowances, discovered on March 28, 2024.

• IOB is preparing to file an appeal before the Commissioner of Income Tax (Appeals),
National Faceless Appeal Centre (NFAC), within the stipulated time frame.

• There is a demand of ₹110 crore on Tamilnad Mercantile Bank for certain additions and
disallowances, with this information received on March 30, 2024.

• Karur Vysya Bank (KVB) received a demand notice for ₹40 crore.

About the Income Tax Department :

• Headquarters : New Delhi, Delhi, India

• Chairman of Central Board of Direct Taxes : Nitin Gupta
• It functions under the Department of Revenue of the Ministry of Finance.
• It is headed by the apex body Central Board of Direct Taxes (CBDT).

JOIN US: Youtube WhatsApp Telegram Instagram FB

3
About Karur Vysya Bank (KVB) :
• Founded : 1916
• Headquarters : Karur, Tamil Nadu
• MD & CEO : B. Ramesh Babu
• Tagline : Smart Way to Bank

About Tamilnad Mercantile Bank (TMB) :

• Founded : 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in
November 1962
• Headquarters : Thoothukudi, Tamil Nadu, India
• Tagline : Be a step ahead of Life

About Indian Overseas Bank (IOB) :

• Founded : 10 February 1937

• Headquarters : Chennai, Tamil Nadu, India
• MD & CEO : Ajay Kumar Srivastava
• Tagline : Good people to grow with

JOIN US: Youtube WhatsApp Telegram Instagram FB

4
Ques : How many members are there in Monetary Policy Committee?
मौविक नीवि सवमवि में वकिने सदस्य होिे हैं ?

(a) 5
(b) 8
(c) 3
(d) 6
(e) 7

Answer : Option D

Explanation :

• RBI Monetary Policy Committee has decided by majority 5:1 to keep policy rates
unchanged, Governor Shaktikanta Das.

• It is the first bi-monthly monetary policy of 2024-25.

Interest rates :
• Repo Rate 6.50%
• Reverse Repo Rate 3.35%
• Standing Deposit Facility (SDF) 6.25%
• Marginal Standing Facility Rate 6.75%
• Bank Rate 6.75%
• Cash reserve ratio (CRR) 4.50%
• Statutory Liquidity Ratio (SLR) 18.00%

About Monetary Policy Committee

• Composition : Six members (RBI Governor, 2 deputy

governors, and 3 external members
• Governor : Shaktikanta Das
• Deputy Governor : Michael Debabrata Patra
• Officer of RBI nominated by the
Central Board, Member : Rajiv Ranjan
• Members : Prof. Ashima Goyal, Prof. Jayanth R.
Varma, Dr. Shashanka Bhide

JOIN US: Youtube WhatsApp Telegram Instagram FB

5
Ques : where is the headquarter of Bandhan Bank?
बांधन बैंक का मुख्यालय कहााँ है ?

(a) Mumbai / मुंबई

(b) New Delhi / नई विल्ली
(c) Hyderabad / हैिराबाि
(d) kolkata / कोलकाता
(e) none of these / इनमें से कोई नहीं

Answer : option D

Explanation :

About Bandhan Bank :

• Incorporated in : 2014
• Started Operations : 2015
• Headquarter : Kolkata
• MD & CEO : Chandra Shekhar Ghosh
• Tagline : Aapka Bhala, Sabki Bhalai

Recently in news :
• Bandhan Mutual Fund (MF) announced the launch of the Bandhan Innovation Fund.

• The fund will allocate its investments across a spectrum of innovators:

• 35-45 per cent to leading innovators with substantial industry R&D

investments
• 35-45 per cent to rising innovators utilising innovation for a competitive edge
• 10-15 per cent to emerging innovators.

JOIN US: Youtube WhatsApp Telegram Instagram FB

6
Recent Facilities Launched in Banking & Insurance Sector
• Axis Bank launches Digital US Dollar Fixed Deposits for NRIs at GIFT City
• Airtel Payments Bank partners with Noise and Mastercard to unveil ‘A New Way To Pay’
• Bank of Baroda launched BoB Earth Green Term Deposit Scheme with 7.15% interest
• IndusInd Bank introduced Indus PayWear, a new wearable payment solution, available on
Mastercard.
• Federal Bank launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC
payment.

Ques : which bank partners with Paymart India to unveil Virtual

ATM Facility?

(a) J&K Bank / जे एं ड के बैंक

(b) Indian Overseas Bank / इं वडयन ओिरसीज बैंक
(c) Union Bank of India / यूवनयन बैंक ऑफ इं वडया
(d) Karnataka Bank / कनााटक बैंक
(e) Central Bank of India / सेंटरल बैंक ऑफ इं वडया

Answer : option A

Explanation :

• J&K Bank partners with Paymart India Pvt Ltd to launch an innovative Virtual ATM
(VATM) facility.

• To boost banking convenience for consumers across its operations, particularly in J&K and
Ladakh.

• The collaboration aims to introduce cardless cash withdrawals for the Bank’s customers
through local retailers.

• The VATM option would allow consumers to withdraw up to Rs 2000 cash per transaction,
for a total of Rs 10,000 per month.

About Jammu and Kashmir Bank :

• Established : 1938
• HQ : Srinagar
• MD & CEO : Baldev Prakash

JOIN US: Youtube WhatsApp Telegram Instagram FB

7
Ques : RBI has imposed a penalty of ₹1 crore on which bank for non-compliance with
certain directions.
आिबीआई ने कुछ वनदे शोां का अनुपालन न किने पि वकस बैंक पि ₹1 किोड़ का जुमााना
लगाया हैl

(a) South Indian Bank / साउथ इं वडयन बैंक

(b) Yes Bank / यस बैंक
(c) Axis Bank / एक्सिस बैंक
(d) IDFC First Bank / आईडीएफसी फर्स्ा बैंक
(e) HDFC Bank / एचडीएफसी बैंक

Answer : Option D

Explanation :

• RBI penalizes IDFC First Bank, LIC Housing Finance for non-compliance

• RBI has imposed a penalty of ₹1 crore on IDFC First Bank for non-compliance with certain
directions on ‘Loans and Advances – Statutory and Other Restrictions’.

• The central bank also fined LIC Housing Finance ₹49.7 lakh for breach of norms. The
housing finance company did not comply with certain provisions of the Fair Practices Code
when it did not disclose the rate of interest.

Recent Penalties imposed by RBI :

• Chikkamagaluru District Cooperative Central Bank, Karnataka (50,000 rupees) – for delay
in reporting of frauds to NABARD Rural Development (NABARD)
• DCB Bank (63.6 lakh) – for non-compliance with certain directions related to ‘interest rate
on advances’
• Nashik’s Janalaxmi Cooperative Bank (59.90 lakh) – for non-compliance with certain
regulatory norms.
• Solapur Janata Sahakari Bank (28.30 lakh) – For sanctioning fresh loans carrying risk
weights of more than 100 per cent in FY22.
• Bank of India (1.4 crore) – for non-compliance with certain regulatory norms.
• Tamilnad Mercantile Bank (1.31 crore) – for non-compliance with certain directions related
to ‘interest rate on advances’.

JOIN US: Youtube WhatsApp Telegram Instagram FB

8
About Reserve Bank of India (RBI) :

• Established : 1 April 1935

• HQ : Mumbai
• Governor : Shaktikanta Das
• Deputy Governors :
T. Rabi Sankar, M. Rajeshwar Rao, Dr. M. D. Patra, Swaminathan Janakiraman

Ques : India will stop importing urea by end of ____.

भािि ___ के अांि िक यूरिया का आयाि बांद कि दे गा।

(a)2027
(b) 2025
(c) 2026
(d)2028
(e) 2030

Answer : Option B

Explanation :

• According to the Union Minister for Chemicals and Fertilizers, Mansukh Mandaviya, India
will stop importing urea by the end of 2025

• Due to an increase in local production capacity with the commissioning of new fertilizer
plants.

• India is a big importer of Urea and meets around 30% of its 35 million tonnes of annual
urea requirement from imports.

• The urea production in the country increased from 225.08 lakh tonnes in 2014-15 to 284.95
lakh tonnes in 2022-23.

• In 2022-23, the total import of Urea was 75.8 lakh tonnes, which is around 30% of the
domestic demand.

• The main sources of urea imports are Oman, Qatar, Saudi Arabia, and the UAE.

JOIN US: Youtube WhatsApp Telegram Instagram FB

9
Ques : Who has been appointed as Inspector General in Special Protection Group
(SPG)?
विशेष सुिक्षा समूह (एसपीजी) में महावनिीक्षक के रूप में वकसे वनयुक्त वकया गया है?

(a) Anish Dayal Singh / अनीश ियाल वसंह

(b) Sujoy Lal Thaosen / सुजॉय लाल थाउसेन
(c) ) M A Ganapathy / एम ए गणपवत
(d) Pankaj Kumar Singh / पंकज कुमार वसंह
(e) Love Kumar / लि कुमार

Answer : Option E

Explanation :

• Indian Police Service (IPS) officer Love Kumar has been appointed as Inspector General in
Special Protection Group (SPG).

• He is a 2004-batch Indian Police Service (IPS) officer of Uttar Pradesh cadre.

• He has been appointed to the post for a period of two years with effect from the date of
assumption of post or till further orders, whichever is earlier. Currently, he is posted as DIG
in the same group.

• Further, Umesh Chander Datta (IPS) has also been appointed as IG in SPG for a period of
two years from the date of assumption of the charge of the post.till the further order
whichever is earlier.

Recent Appointment in Defence Sector :

• DG of National Investigation Agency (NIA) -Sadanand Vasant Date (replace Dinkar Gupta)
• DG of Bureau of Police Research & Development – Rajeev Kumar Sharma (replace Balaji
Srivastava)
• DG of National Disaster Response Force (NDRF) – Piyush Anand (Atul Karwal)
• First woman sniper of the Border Security Force (BSF) - Suman Kumari
• Director General of the National Investigation Agency (NIA) - Sadanand Vasant Date
• Director General of the Bureau of Police Research and Development (BPR&D) - Rajeev
Kumar

JOIN US: Youtube WhatsApp Telegram Instagram FB

10
Ques : Government Approval of ____ Export to Friendly Countries
वमत्र दे शोां को ___ वनयााि की सिकाि की मांजूिी

(a) Onion / प्याज

(b) Potato / आलू
(c) Tomato / टमाटर
(d) wheat / गेहं
(e) Rice / चािल

Answer : Option A

Explanation :

• Requests from friendly nations including Bangladesh, the

United Arab Emirates, Bahrain, Mauritius, and Bhutan, the Indian
government has granted approval for the export of onions.

• India has agreed to export 50,000 tonnes of onions to Bangladesh, 550

tonnes to Bhutan, 3,000 tonnes to Bahrain, 1,200 tonnes to Mauritius, and 14,400 tonnes to
the United Arab Emirates.

• India’s onion cultivation occurs primarily during the Rabi (winter), Kharif,
and late Kharif (summer/monsoon) seasons.

• India, a significant global exporter of onions, had enforced a ban on onion exports in
December 2023, leading to soaring prices in these
nations.

11
Ques : Who has been appointed as the Chairman of National Cooperative Dairy
Federation of India Ltd. (NCDFI)?
नेशनल कोऑपिे विि डे यिी फेडिे शन ऑफ इां वडया वलवमिे ड (एनसीडीएफआई) के अध्यक्ष के
रूप में वकसे वनयुक्त वकया गया है ?

(a) Rajendra Prasad Goyal / राजेंद्र प्रसाि गोयल

(b) Pramod Sharma / प्रमोि शमाा
(c) Vivek Srivastava / वििेक श्रीिास्ति
(d)Pankaj Kumar Singh / पंकज कुमार वसंह
(e) Meenesh Shah / मीनेश शाह

Answer: Option E

Explanation:

• The National Cooperative Dairy Federation of India Ltd. (NCDFI) elected Dr. Meenesh
Shah as the Chairman.

• The election process was conducted by Praveen Chaudhary, IAS, the District Collector of
Anand, who served as the Returning Officer

• Prior to the Board elections, the NCDFI General Body had elected eight directors to the
Board in an unopposed process on April 04, 2024.

About NCDFI
• NCDFI is a national-level apex dairy cooperative registered on December 7, 1970 and is
governed under the provisions of the Multi State Cooperative Societies (Amendment) Act,
2023.
• It has 20 Regular Members, 14 Associate Members and the National Dairy Development
Board (NDDB) as its Institutional Member.

12
Recently appointed chairmans :

• Amit Kalyani : Vice-Chairman and Joint Managing Director of Bharat Forge

• PR Sreejesh & Camila Caram : Co-chairs of New FIH Athletes
Committee
• Arnab Banerjee : Chairman of the Automotive Tyre Manufacturers’ Association (ATMA)
• Kumar Chokshanada Sangakkara : Chairman of Marylebone Cricket Club (MCC)’s World
Cricket Committee (WCC)
• United Arab Emirates'
Mohammed Al Ramsi : Chairman of World Radiocommunication
Conference 2023 (WRC 23)
• Anand Kripalu : Chairperson and Independent Director of
Swiggy
• Deep Kalra : Chairman of World Travel & Tourism Council,India Initiative
• Govind Dholakia : Chairman of Surat Diamond Bourse
• Navneet Kumar Sehgal : Chairperson of the Prasar Bharati Board
• Kishor Makwana : Chairman of the National Commission for
Scheduled Castes (NCSC)

Ques : Bilquis Mir has become the India’s first female Jury Member at Paris Olympics.
She is from which state?
वबल्किस मीि पेरिस ओलांवपक में भािि की पहली मवहला जूिी सदस्य बन गई हैं। िह वकस
िाज्य से है?

(a) Tripura / विपुरा

(b) Arunachal Pradesh / अरुणाचल प्रिे श
(c) Jammu and Kashmir / जम्मू और कश्मीर
(d) Assam / असम
(e) Meghalaya / मेघालय

Answer. : Option C

13
Explanation :

• Bilquis Mir from Jammu and Kashmir is set to create history as the first woman from India
to serve as a jury member at this year’s Summer Olympics in Paris, scheduled from July 26 to
August 11.

• Bilquis Mir, water sports promoter, developer, athlete, jury member of Indian Kayaking and
Canoeing association has been nominated as the member of the jury to officiate at the Paris
Olympics games.

• She is the first person from India to be appointed as a jury member at the Paris Olympics.

• Bilquis, who also served a jury member at the previous year’s Asian Games in Hangzhou,
China, said she started her journey in 1998 as a canoeist from Kashmir and subsequently
represented the country.

Ques : The International Day of Sport for Development and Peace (IDSDP) is
celebrated annually on which day?
विकास औि शाांवि के वलए अांििााष्ट्रीय खेल वदिस (IDSDP) प्रवििषा वकस वदन मनाया जािा है?

(a) 5 April
(b) 4 April
(c) 1 April
(d) 6 April
(e) 8 April

Answer: Option D

Explanation:

• The International Day of Sport for Development and Peace (IDSDP) is celebrated annually
on April 6.

• Objective – To recognize the importance of sports and physical activity in our personal lives
and communities around the world.

• Theme 2024 – Sport for the Promotion of Peaceful and Inclusive Societies

• On August 23, 2013, the United Nations General Assembly (UNGA) voted Resolution
67/296, declaring April 6 as the International Day of Sport for Development and Peace.

14
Important days :
• 25 March : International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
• 27 March : World Theatre Day
• 23rd March : Earth Hour 2024
• 28 March : World Piano Day 2024
• 30 March : 2nd annual International Day of Zero Waste
• 1st April : Utkal Diwas 2024 also known as Odisha Day or Utkala Dibasa
• 2nd April : World Autism Awareness Day ( Theme : Empowering Autistic Voices )
• 2nd April : International Children’s Book Day 2024 ( Theme : Cross the Seas on the Wing
of your Imagination)
• 3rd April : Independent Artist Day
• 3 April 2024 : 260th Raising Day of the Army Medical Corps (AMC)
• 4th April : International Day for Mine Awareness and Assistance in Mine Action ( Theme :
Protecting Lives, Building Peace) >

15
Ques : Which company has developed ‘Akashteer Air Defence Security System’ for the
Indian Army in April 2024?
अप्रैल 2024 में वकस कांपनी ने भाििीय सेना के वलए ‘आकाशिीि एयि वडफेंस वसक्योरििी
वसस्टम‘ विकवसि वकया है ?

(a)Tata Advanced Systems / टाटा एडिांस्ड वसर्स्म्स

(b) Bharat Electronics Limited (BEL) / भारत इलेक्ट्रॉवनि वलवमटे ड (बीईएल)
(c) Hindustan Unilever Limited / वहंिुस्तान यूवनलीिर वलवमटे ड
(d) Infosys Technologies / इं फोवसस टे क्नोलॉजीज
(e) Reliance Industries Limited / ररलायंस इं डर्स्र ीज वलवमटे ड

Answer : Option A

Explanation :

• The Army has started the induction of control and reporting systems under ‘Project
Akashdeep’ to bolster its air defence capabilities.

• The deployment of the systems began with flagging off of the first batch of Control Centres
from BEL Ghaziabad.

• The Akashteer Project is a cutting-edge initiative designed to automate air defence control
and reporting processes by digitising the entire process.

• Akashteer provides unprecedented levels of target detection and control by integrating radar
and communication systems at all levels into an integrated network.

• A notable aspect of Akashteer is its emphasis on mobility and flexibility. The control
centers of its systems have been made vehicle-based and mobile. So that its operational
capabilities are not affected even in challenging communication environments.

16