Current Affairs Quiz - February, 2024

Notes:
The Andhra Pradesh government has enforced a month-long fishing ban within a 5-km radius of Hope Island to safeguard Olive Ridley turtles along the Kakinada coast. Olive Ridleys, named for their green carapace, are the smallest sea turtles globally. Known for unique mass nesting called Arribada, they primarily inhabit warm waters in the Pacific, Atlantic, and Indian Oceans. The Gahirmatha Marine Sanctuary in Odisha houses the world’s largest rookery of sea turtles. With a Vulnerable status on the IUCN Red List, Olive Ridleys face threats requiring protective measures.

Notes:
South Indian Bank has been honored as the Best Technology Bank of the Year at the 19th IBA Annual Banking Technology Conference. The bank received six awards, including three wins, one runner-up position, and two special mentions. T Rabi Sankar, Deputy Governor of the Reserve Bank of India, presented the accolades to PR Seshadri, MD & CEO of South Indian Bank, at the Mumbai venue organized by the Indian Banks’ Association (IBA).

Notes:
Saudi Arabia is launching the “Dream of the Desert” train service in late 2025. The 800-mile trip will start in Riyadh, Saudi Arabia’s capital city, and travel northwest toward the border with Jordan. The route will pass through long stretches of scenic deserts and UNESCO World Heritage archeological sites.

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Union Minister Sarbananda Sonowal highlighted the significant potential of India’s inland waterways as a growth engine, emphasizing PM Narendra Modi’s focus on harnessing this vital resource. Speaking at Kalugaht, Bihar, he inaugurated the Kalughat Inland Waterways Transport terminal on National Waterways-1, emphasizing the cost-effectiveness of water transport. Sonowal credited Prime Minister for amending the Inland Vessel Act, simplifying permit systems and transforming India into a major player in riverways and maritime cargo handling with the increase of National Waterways from 5 to 111.

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Reliance Industries Limited (RIL) recently achieved a historic milestone, becoming the first Indian company to surpass Rs 20 lakh crore in market capitalization. Market capitalization, or Market Cap, signifies a company’s market value based on its share price and outstanding shares. RIL’s achievement highlights its significant market presence, making it a large-cap company. Market capitalization is crucial for investors to assess a company’s value and predict future stock performance based on market perceptions and willingness to invest.

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Scientists recently uncovered a Stone Age wall beneath the Baltic Sea in Germany, considered Europe’s oldest human-made megastructure. The 971-meter wide, less than 1 mtr tall wall, believed to be over 10,000 years old, was likely built by hunter-gatherers and may have served as a reindeer hunting lane. The Baltic Sea is a semi-enclosed sea in Northern Europe, a branch of the North Atlantic Ocean, dividing the Scandinavian Peninsula from mainland Europe, with 8,000 kilometers of coastline shared by multiple countries.

Notes:
Union Minister Shri Sarbananda Sonowal launched ‘Sagar Aankalan’ guidelines to improve Indian ports’ performance, focusing on mapping, benchmarking, and aligning standards globally. Stemming from the success of GMIS 2023, a major maritime summit, the initiative aims to boost the maritime sector, evidenced by a ₹10 lakh crore investment commitment. The move underscores the government’s dedication to modernize and optimize India’s maritime infrastructure for economic growth and global competitiveness.

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The ‘PM Vishwakarma Yojana’ by the Ministry of Micro, Small, and Medium Enterprises offers artisans and craftsmen affordable loans, skill training, modern equipment, and promotes digital transactions. With a budget of Rs 13,000 crore, the scheme covers 18 businesses and is set to run for five years until the financial year 2027-28, aiming to boost the growth and development of the micro, small, and medium enterprises sector.

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Astronomers announced the discovery of J0529-4351, the brightest and fastest-growing quasar to date. This quasar harbors a supermassive black hole 17 billion times the Sun’s mass. Quasars are active galactic nuclei (AGNs), fueled by supermassive black holes at a galaxy’s center. Not all AGNs are quasars, which form in regions of high matter density. Quasars are exceptionally luminous and powerful cosmic phenomena, arising from active galaxies with intense matter consumption, leading to the formation of spiraling accretion disks.

Notes:
Iris and Massalia are asteroids that have similar orbits and are potentially the first asteroids in our solar system to have confirmed water.  Iris is 124 miles in diameter, making it larger than 99% of asteroids in our solar system. It orbits between Mars and Jupiter and is the fourth brightest object in the asteroid belt. Massalia is 84 miles in diameter and is similar in size to Iris.  Scientists using SOFIA’s infrared telescope discovered molecular water on the asteroids. The water could be stored in multiple ways, such as trapped in silicate glass beads or stuck to the silicates’ surface.