1. Recently, which organization has approved a $1.5 billion loan to support India’s green hydrogen initiatives?
[A] World Bank
[B] International Monetary Fund
[C] International Bank for Reconstruction and Development
[D] International Development Association
Show Answer
Correct Answer: A [World Bank]
Notes:
The World Bank approved $1.5 billion to support India’s low-carbon energy development. The funding will boost green hydrogen, electrolysers, and renewable energy. This aligns with India’s National Green Hydrogen Mission and energy goals: achieving 500 GW of renewable energy capacity by 2030 and net zero emissions by 2070.
2. Recently, researchers of which country have discovered that zinc plays a crucial role in the nitrogen fixation process of legumes?
[A] India
[B] China
[C] Japan
[D] France
Show Answer
Correct Answer: D [France]
Notes:
Researchers in France discovered zinc’s crucial role in legume crop health. Zinc, a silvery blue-grey metal, is the fourth most widely used globally after steel, aluminum, and copper. In India, Rajasthan holds the largest lead-zinc ore reserves. Australia leads in global zinc reserves, followed by China and Russia. Zinc is essential for galvanizing steel due to its corrosion resistance and is used in die-castings and zinc oxide production for paints and rubber.
3. What is the primary objective of the National Green Hydrogen Mission, recently seen in news?
[A] To reduce carbon emissions by 50%
[B] To make India a global hub for producing, utilising, and exporting Green Hydrogen and its derivatives
[C] To develop electric vehicles infrastructure
[D] To promote the use of solar energy
Show Answer
Correct Answer: B [To make India a global hub for producing, utilising, and exporting Green Hydrogen and its derivatives]
Notes:
The Ministry of New and Renewable Energy issued guidelines for funding under the National Green Hydrogen Mission, approved by the Union Cabinet on January 4, 2023. The mission aims to make India a global hub for producing, utilizing, and exporting green hydrogen. Key components include financial incentives for domestic electrolyser manufacturing and green hydrogen production, pilot projects, development of Green Hydrogen Hubs, the Strategic Hydrogen Innovation Partnership (SHIP) for R&D, and a coordinated skill development program.
4. Which company has recently launched ‘Health Saathi’ plan?
[A] Google
[B] Paytm
[C] PhonePe
[D] Meta
Show Answer
Correct Answer: B [Paytm]
Notes:
Paytm has launched ‘Paytm Health Saathi,’ an affordable healthcare and income protection plan for its merchant partners. Available through the ‘Paytm for Business’ app, the plan starts at ₹35 per month and includes unlimited doctor teleconsultations and in-person OPD visits within the Paytm network. It also offers income protection against business interruptions due to accidents or natural calamities like floods, fires, or strikes.
5. Recently, the EXIM Bank has entered into an agreement with which country to provide a line of credit worth $2.5 million for the installation of a solar photovoltaic power plant?
[A] Kenya
[B] Somalia
[C] Guyana
[D] Nigeria
Show Answer
Correct Answer: C [Guyana]
Notes:
The Export-Import Bank of India (EXIM Bank) has agreed to provide a $2.5 million line of credit to Guyana for installing a solar photovoltaic power plant at Cheddi Jagan International Airport. The deal, dated February 29, 2024, became effective on June 24, 2024. Disbursements under this credit line will be allowed until 48 months after the project’s completion, according to the Reserve Bank of India.
6. What is the primary objective of FishMIP initiative, recently seen in news?
[A] To promote fishing practices in tribal areas
[B] To support planning for adaptive and resilient seafood sectors under climate change
[C] It aims to eradicate poverty from all rural areas
[D] None of the Above
Show Answer
Correct Answer: B [To support planning for adaptive and resilient seafood sectors under climate change]
Notes:
The Ecosystem Model Intercomparison Project (FishMIP) projects over a 10% decline in exploitable fish biomass by mid-century under high-emissions scenarios. Launched in 2013, FishMIP aids industry and governments in climate change adaptation for seafood sectors. It comprises over 100 marine ecosystem modelers globally. In 2024, FishMIP2.0 was established to enhance modeling reliability and address broader policy questions on food security and marine resource management.
7. What is the ‘MV Sea Change’, recently seen in news?
[A] The world’s first electric ferry
[B] The world’s first commercial passenger ferry powered by 100% hydrogen fuel
[C] The world’s largest cargo ship
[D] None of the Above
Show Answer
Correct Answer: B [The world’s first commercial passenger ferry powered by 100% hydrogen fuel]
Notes:
The MV Sea Change, the world’s first commercial passenger ferry powered by 100% hydrogen fuel, launched at the San Francisco Ferry Building. Built by All American Marine Shipyard for SWITCH Maritime and designed by Incat Crowther, it carries 75 passengers and operates for 16 hours, covering 300 nautical miles per refueling. Emitting only heat and water vapor, it reaches speeds up to 20 knots and features drinkable water emissions.
8. What is the purpose of developing a ‘climate finance taxonomy’ as announced in the Union Budget for 2024-25?
[A] To create standards for classifying climate-related financial instruments like green bonds
[B] To guide investors and banks in directing investments toward sustainable projects to address climate change
[C] To manage risks associated with climate change
[D] To benchmark countries’ progress in climate finance
Show Answer
Correct Answer: B [To guide investors and banks in directing investments toward sustainable projects to address climate change]
Notes:
The Finance Minister announced the development of a ‘climate finance taxonomy’ in the Union Budget 2024-25. This system classifies parts of the economy as sustainable investments, guiding investors and banks in directing funds to combat climate change. It sets standards for climate-related financial instruments like green bonds and aids in climate risk management and net-zero transition planning. Countries such as South Africa, South Korea, and the EU have already developed similar taxonomies.
9. What is ‘Tax Incidence’, recently mentioned in news?
[A] The process of setting tax rates
[B] The division of tax burden between stakeholders
[C] The methods of collecting taxes
[D] The history of tax legislation
Show Answer
Correct Answer: B [The division of tax burden between stakeholders]
Notes:
The Union government has stated that the Goods and Services Tax (GST) has reduced the tax burden on common people. Tax incidence refers to how a tax burden is divided between stakeholders such as buyers and sellers. There are two forms: statutory incidence, which determines who is legally responsible for paying the tax, and economic incidence, which reflects the final burden on economic welfare.
10. Which organization recently issued a Prompt Corrective Action (PCA) framework to take steps for improvement of weak Urban Cooperative Banks (UCBs)?
[A] NABARD
[B] SEBI
[C] RBI
[D] SBI
Show Answer
Correct Answer: C [RBI]
Notes:
The Reserve Bank of India (RBI) introduced a Prompt Corrective Action (PCA) framework to improve weak Urban Cooperative Banks (UCBs). This framework aims for timely supervisory intervention, ensuring UCBs initiate remedial measures to restore financial health. The PCA will focus on monitoring capital, asset quality, and profitability. It replaces the existing Supervisory Action Framework (SAF) and will apply to UCBs with deposits exceeding Rs 100 crore. The PCA framework serves as an early intervention tool to enhance the stability and performance of UCBs.
