Current Affairs Questions and Answers 02nd April 2024

02nd April Current Affairs 2024 Quiz

Q1. What was the year when Katchatheevu Island was ceded by India to Sri Lanka?

(a) 1972

(b) 1974

(d) 1980

(e) 1982

Q2. What is the estimated cost of the “Stargate” AI supercomputer project?

(a) $50 billion

(b) $75 billion

(d) $150 billion

(e) $200 billion

Q3. Who has launched the ‘Flash Pay’ RuPay smart key chain?

(a) State Bank of India

(b) Federal Bank

(d) HDFC Bank

(e) Axis Bank

Q4. Which organization led the celebration of the International Year of Millets (IYM) in 2023?

(a) World Health Organization (WHO)

(b) United Nations Educational, Scientific and Cultural Organization (UNESCO)

(d) Food and Agriculture Organization (FAO)

(e) United Nations Development Programme (UNDP)

Q5. Which material is used for manufacturing biochar production chambers to ensure non-corrosive and non-toxic properties?

(a) Iron

(b) Aluminum

(d) Stainless steel

(e) Copper

Q6. What is the role of the UN Commission on the Status of Women (CSW)?

(a) To advocate for men’s rights globally

(b) To promote gender equality and empower women

(d) To regulate international trade agreements

(e) To provide humanitarian aid in conflict zones

Q7. What method is HDFC Bank employing to sell its stake in HDFC Education and Development Services?

(a) Direct negotiation

(b) Tender offer

(d) Reverse auction

(e) Private placement

Q8. What was the percentage of stake held by Savita Oil Technologies’ promoter group before the block deal?

(a) 62.78%

(b) 59.78%

(d) 55.78%

(e) 57.78%

Q9. What is the projected GDP growth rate for India in FY24 according to S&P Global?

(a) 7.0%

(b) 7.2%

(d) 7.6%

(e) 7.8%

Q10. What was the amount raised by the Indian government through stake sales in state-run companies in the fiscal year 2023/24?

(a) $1.98 billion

(b) $2.1 billion

(d) $2.5 billion

(e) $1.5 billion

Solutions

S1. Ans.(b)

Sol. Katchatheevu Island was ceded by India to Sri Lanka in 1974 under the administration of Prime Minister Indira Gandhi. This significant bilateral agreement preceded the delineation of the maritime boundary between the two countries in the Sethusamudram region in 1976.

S2. Ans.(c)

Sol. According to reports, the proposed Stargate project is anticipated to cost up to $100 billion, making it one of the most expensive AI projects to date. This information aligns with the details provided in the context, where it mentions that the project’s cost could reach $100 billion, based on initial cost estimates by Microsoft and OpenAI.

S3. Ans.(b)

Sol. Federal Bank has partnered with NPCI to introduce the ‘Flash Pay’ RuPay smart key chain for contactless payments.

S4. Ans.(d)

Sol. The FAO led the celebration of the International Year of Millets in collaboration with other stakeholders, emphasizing millets’ significance for global food security and sustainable agriculture.

S5. Ans.(d)

Sol. Biochar manufacturing chambers typically use stainless steel material to ensure non-corrosive and non-toxic properties. This choice of material enhances the durability and safety of biochar production processes, aligning with sustainability goals in steel production.

S6. Ans.(b)

Sol. The UN Commission on the Status of Women (CSW) is tasked with promoting gender equality and empowering women worldwide. It works towards ensuring women’s rights are protected and advanced in various spheres of life, including political, economic, and social arenas.

S7. Ans.(c)

Sol. HDFC Bank has opted for the Swiss challenge method to divest its entire stake in HDFC Education and Development Services. This method involves inviting third parties to submit competing bids after an initial bid has been received, ensuring transparency and fair market value determination.

S8. Ans.(a)

Sol. On March 26, 2024, Savita Oil Technologies announced a significant equity transaction via a block deal, wherein the company’s promoter, Mr. Gautam N. Mehra, sold a 3% stake to SBI Mutual Fund. Before the block deal, Savita Oil Technologies’ promoter group held a stake of 62.78%, equivalent to 43,383,855 shares.

S9. Ans.(d)

Sol. S&P Global forecasts India’s GDP to grow at a rate of 7.6% in FY24, indicating a robust economic performance for the fiscal year. This projection is based on their analysis provided in the Economic Outlook Asia-Pacific Q2 2024 report.

S10. Ans.(a)

Sol. According to official data, the Indian government raised 165 billion rupees, equivalent to $1.98 billion, through stake sales in state-run companies during the fiscal year 2023/24.