General Awareness PYQs

The correct answer is WhatsApp.

In News

• WhatsApp is the most used messaging app globally, with over 2 billion active users.
• The app is available in over 180 countries, making it a widely accessible platform for communication.

Key Points

• WhatsApp has more than 2 billion active monthly users, a significant portion of the global population.
• The app sends over 100 billion messages daily, demonstrating its high engagement levels.
• WhatsApp offers free messaging and calling, making it accessible to a large audience.
• End-to-end encryption ensures secure communication, adding to its appeal.
• WhatsApp Business helps small businesses engage with customers effectively, boosting its utility beyond personal communication.

Additional Information

• WhatsApp Business
• WhatsApp Business allows small businesses to communicate with their customers directly, enhancing its role in business communication.
• End-to-End Encryption
• End-to-end encryption ensures that only the sender and recipient can read the messages, enhancing privacy and security.

The correct answer is 1 and 3 only.

In News

• The Liberalised Remittance Scheme (LRS) allows resident individuals to remit up to USD 2,50,000 per financial year for permissible current or capital account transactions.
• Remittance for purposes specifically prohibited under Schedule-I, such as purchasing lottery tickets or proscribed magazines, is prohibited under LRS.
• Remittances under LRS can be consolidated for family members, but capital account transactions like opening a bank account or investment cannot be consolidated unless the family members are co-owners or co-partners in the investment.

Key Points

• Under the LRS, all resident individuals, including minors, can remit up to USD 2,50,000 per financial year for permissible current or capital account transactions.
• Some of the prohibited items under the LRS include remittances for purposes such as purchasing lottery tickets, margin calls to overseas exchanges, and trading in foreign exchange abroad.
• Consolidation of remittances for family members is allowed for current account transactions, but capital account transactions such as investments cannot be clubbed unless the family members are co-owners or co-partners.
• Remittances made for permissible purposes under the LRS are subject to a cumulative limit of USD 2,50,000 per financial year.

Additional Information

• Prohibited Remittances
• Remittance for the purchase of FCCBs, margin calls, and trading in foreign exchange abroad are prohibited under the LRS.
• Additionally, remittances for any purpose prohibited under Schedule-I of FEM (CAT) Rules, such as investments in prohibited businesses, are also not allowed.
• Consolidation of Remittances
• Consolidation of remittances is permitted for family members, but capital account transactions like investments cannot be consolidated unless the family members are co-owners or co-partners in the investment.
• Purpose of LRS
• The LRS is aimed at allowing residents to remit funds for a variety of purposes, such as private visits abroad, medical treatment, education, and other permissible transactions under FEMA regulations.

The correct answer is 1 and 3 only.

In News

• The Union Cabinet approved the continuation of the Pradhan Mantri Awaas Yojana – Gramin (PMAY-G) for FY 2024-2029 with a total outlay of Rs. 3,06,137 crore.
• The approval includes the construction of two crore more houses, with a focus on rural areas and people in dilapidated houses.

Key Points

• The PMAY-G will provide financial assistance for the construction of two crore houses from FY 2024-2029.
• The total outlay for the scheme is Rs. 3,06,137 crore, with Rs. 2,05,856 crore allocated by the central government and Rs. 1,00,281 crore allocated by the state governments.
• The unit cost of assistance to beneficiaries is Rs. 1.20 lakh in plain areas and Rs. 1.30 lakh in North Eastern and Hill States.
• The construction of these houses will benefit nearly 10 crore individuals, ensuring safe, secure housing with basic amenities for those in need.

Additional Information

• PMAY-G Objectives
• PMAY-G aims to provide “Housing for All” in rural areas by constructing pucca houses with basic amenities.
• The program targets vulnerable households, ensuring they live in safe, hygienic, and secure conditions.
• PMAY-G Implementation Timeline
• The scheme has been extended until March 2029, continuing from the original 2.95 crore houses target, which was set to be completed by March 2024.
• Post March 2026, the scheme will be evaluated by NITI Aayog and re-appraised by the EFC for continuation beyond that period.
• Awaas+ List
• The Awaas+ list will be updated for identifying eligible rural households using modified exclusion criteria.

The correct answer is Card Tokenization.

In News

• Card tokenization is a process that substitutes actual card details with a unique code, or "token," for secure transactions.
• It enhances security in digital payments by reducing the risk of data breaches in e-commerce transactions.

Key Points

• Card tokenization substitutes sensitive card details with a secure token, preventing merchants from storing card data.
• As of December 2024, over 91 crore tokens were issued, securing nearly 98% of e-commerce transactions.
• The Reserve Bank of India (RBI) mandated tokenization for all merchants and payment processors to enhance cybersecurity.

Additional Information

• Types of Tokenization
• Device tokenization: Specific to each device.
• Card-on-File tokenization: Specific to each merchant.
• RBI's Mandate
• RBI’s 2022 mandate ensures merchants and payment processors rely entirely on tokenization for customer card data security.

The correct answer is Pacific Ocean.

In News

• El Nino and La Nina are complex weather phenomena primarily caused by variations in ocean temperatures in the Equatorial Pacific Ocean.
• Both El Nino and La Nina events are phases of the El Nino-Southern Oscillation (ENSO) cycle, which affects the Pacific Ocean's sea surface temperatures.

Key Points

• El Nino and La Nina events cause significant weather changes, such as droughts and floods, that primarily impact the Pacific Ocean region.
• These events influence global weather patterns, including in countries bordering the Pacific Ocean such as Australia, the United States, and South America.

Additional Information

• El Nino
• El Nino refers to the unusual warming of surface waters in the eastern tropical Pacific Ocean.
• It typically leads to extreme weather conditions such as floods and droughts across multiple regions globally.
• La Nina
• La Nina is characterized by the cooling of surface waters in the Pacific Ocean, which results in different weather patterns like droughts in some areas and heavy rains in others.

The correct answer is Telegram.

In News

• Pavel Durov is the founder and former CEO of Telegram, a popular messaging app.
• He has been in the news for his legal battles and ongoing issues with French authorities.

Key Points

• Pavel Durov is known for creating Telegram, which he co-founded in 2013 with his brother Nikolai Durov.
• Telegram has grown to become one of the largest messaging platforms globally, known for its privacy features.

Additional Information

• Telegram
• Telegram is a cloud-based messaging app known for its speed, security, and user-friendly interface.
• The app supports a wide range of content sharing, including text, images, video, and encrypted messaging.

The correct answer is IndianOil.

In News

• IndianOil is the title sponsor for the 2024 Ultimate Table Tennis (UTT) league, marking its third consecutive year as the sponsor.
• JioStar and Star Sports have become the official broadcast and streaming partners for the league.

Key Points

• IndianOil has been the title sponsor for the UTT league for three consecutive years, including in 2023 and 2024.
• JioStar and Star Sports have partnered as official broadcast and streaming partners for the UTT league.
• IndianOil’s sponsorship highlights its continued support for sports initiatives in India.

Additional Information

• IndianOil
• IndianOil is one of India’s largest public sector oil and gas companies and has been a prominent sponsor of various sports events in the country.
• Ultimate Table Tennis (UTT)
• Ultimate Table Tennis is India’s professional table tennis league, featuring top national and international players.

The correct answer is National Law School of India University, Bengaluru.

In News

• National Law School of India University, Bengaluru (NLSIU) retains its first position in the Law category for the seventh consecutive year in the NIRF India Rankings 2024.
• NLSIU has been ranked at the top from 2018 to 2024, showcasing its consistent excellence in legal education.

Key Points

• National Law School of India University (NLSIU) has held the top position in the NIRF Law category since 2018, with its seventh consecutive win in 2024.
• The university is renowned for its quality legal education and research initiatives.
• NLSIU's consistent ranking at the top highlights its contribution to the legal profession and society.

Additional Information

• National Law School of India University (NLSIU), Bengaluru
• Founded in 1987, NLSIU is India’s premier law school and is known for its academic excellence and extensive legal research programs.
• The university has produced many prominent legal professionals, including judges, advocates, and academics.
• NIRF Rankings
• The NIRF (National Institutional Ranking Framework) is a ranking system introduced by the Ministry of Education, Government of India, to rank institutions in India based on various parameters like teaching, learning, and resources.

The correct answer is Bank of Baroda (BoB).

In News

• Bank of Baroda (BoB) has approved the sale of its Oman operations to Bank Dhofar as part of rationalising its foreign operations.
• The sale is subject to approval from concerned regulatory authorities, with the consideration yet to be decided.

Key Points

• BoB has been rationalising its foreign operations and had previously closed its wholesale branch in China and divested its stake in Bank of Baroda (Trinidad and Tobago) Ltd.
• As of March 31, 2024, BoB's total business from international branches was Rs 3,83,409 crore, constituting 16.02% of its global business.
• The total business of BoB's Oman operations was 113.35 million Omani Rial, with a net worth of 25.54 million Omani Rial.

Additional Information

• Rationalisation of Foreign Operations
• Rationalising foreign operations involves strategic decisions to streamline and optimise the bank's global presence.
• BoB has undertaken such exercises in the past, including closing its branch in China and selling its stake in a Trinidad and Tobago subsidiary.
• Bank Dhofar
• Bank Dhofar is one of the major banks in Oman and has now acquired BoB's banking business in the region.

The correct answer is Nita Ambani.

In News

• Nita Ambani has been re-elected unanimously as a member of the International Olympic Committee (IOC) from India.
• She received 100% of the votes at the 142^nd IOC session held in Paris, ahead of the Paris 2024 Olympic Games.

Key Points

• Nita Ambani was the first Indian woman to join the IOC, appointed in 2016 during the Rio de Janeiro Olympic Games.
• She has played a significant role in advocating for India's growth in sports and its Olympic vision.
• Through the Reliance Foundation, she has reached over 22.9 million children and youth in India with sports programs.
• The Reliance Foundation is also opening India's first-ever India House at the Paris Olympics, offering support to Indian athletes.

Additional Information

• Reliance Foundation
• The Reliance Foundation has been instrumental in promoting sports in India through various initiatives and programs for children and youth.
• It aims to promote not only sports but also education, health, and rural development in India.
• International Olympic Committee (IOC)
• The IOC is responsible for organizing the Olympic Games and promoting the Olympic movement worldwide.
• It is an important global body in the development and governance of sports and Olympic events.

The correct answer is Indian Overseas Bank (IOB).

In News

• Partha Pratim Sengupta has been appointed as the Managing Director & CEO of Bandhan Bank for a period of three years.
• Before this, he served as the Managing Director & CEO of Indian Overseas Bank (IOB).

Key Points

• Partha Pratim Sengupta has nearly four decades of experience in the banking industry, including roles at both State Bank of India (SBI) and Indian Overseas Bank (IOB).
• He is known for leveraging technology and innovation to achieve business results during his tenure at IOB and SBI.
• Sengupta succeeds Ratan Kumar Kesh as the CEO of Bandhan Bank, after Ghosh’s unexpected retirement.

Additional Information

• Indian Overseas Bank (IOB)
• Indian Overseas Bank is a public sector bank headquartered in Chennai, India.
• Sengupta served as MD & CEO of IOB before his new role at Bandhan Bank.
• State Bank of India (SBI)
• Sengupta previously held a key role at SBI, rising to the position of Deputy MD and Chief Credit Officer.

The correct answer is 7.10%.

In News

• LIC increased its stake in Bank of Maharashtra from 4.05% to 7.10% following a Qualified Institutional Placement (QIP).
• LIC now holds 7.10% of the bank's shares, a significant rise from its previous stake of 4.05%.

Key Points

• LIC increased its stake in Bank of Maharashtra to 7.10% after being allotted 25.96 crore equity shares in a QIP.
• Before the QIP, LIC's shareholding was 4.05%, and it now owns a larger stake of 7.10% in the bank.
• The QIP is a method for listed companies to raise capital by issuing shares to institutional investors.
• This increased stake shows LIC's confidence in the growth potential of Bank of Maharashtra.

Additional Information

• Qualified Institutional Placement (QIP)
• QIP is a fundraising tool where a listed company issues equity shares to institutional investors.
• It is a way for companies to raise capital for expansion or other business needs.
• Bank of Maharashtra
• Bank of Maharashtra is a public sector bank based in India.
• The capital infusion from LIC will help the bank strengthen its balance sheet and support its growth plans.

The correct answer is All are correct.

In News

• Reserve Bank of India (RBI) has joined Project Nexus, a multilateral initiative aimed at enabling instant cross-border retail payments.
• Project Nexus connects the Fast Payment Systems (FPS) of multiple countries to enhance the speed and efficiency of cross-border payments.

Key Points

• Project Nexus is an initiative of the Bank for International Settlements (BIS), aiming to enhance global cross-border payments through instant payment systems.
• Members of Project Nexus include ASEAN countries like Malaysia, Philippines, Singapore, Thailand, and India as founding members, with Indonesia to join later.
• The centralization of connections in Project Nexus allows cross-border payments from sender to recipient within 60 seconds (in most cases).
• The project will help India expand its payment systems' international reach by providing a multilateral platform for efficient global transactions.

Additional Information

• Bank for International Settlements (BIS)
• The BIS was established in 1930 and serves as a platform for central banks to collaborate on international financial matters.
• It is owned by 63 central banks, representing 95% of the world’s GDP.
• Innovation Hub of BIS
• The BIS Innovation Hub works on leveraging technology to facilitate responsible innovation in central banking and financial services.
• Fast Payment Systems (FPS)
• FPS is designed to enable real-time, instant, and secure payments for individuals and businesses across countries.
• It is crucial for enhancing financial inclusion, improving economic transactions, and reducing delays in cross-border payments.

The correct answer is 1 and 3 only.

In News

• The Union Cabinet has approved seven schemes to improve farmers' lives and increase their incomes, with a total outlay of Rs 14,235.30 crore.
• The schemes include initiatives for digital agriculture, crop science, livestock health, horticulture, and more.

Key Points

• The Digital Agriculture Mission has an outlay of Rs 2,817 crore and focuses on Agri Stack and Krishi Decision Support System using advanced technologies like AI and Big Data.
• The scheme for strengthening agricultural education, management, and social sciences has a total outlay of Rs 2,291 crore, not Rs 3,000 crore.
• The Sustainable Development of Horticulture scheme with an outlay of Rs 1,129.30 crore focuses on various horticultural crops, including tropical, sub-tropical, and temperate varieties.
• The overall goal of these schemes is to increase farmers' income and improve food security by 2047.

Additional Information

• Digital Agriculture Mission
• Focuses on the use of technology for improving farmers' lives with tools like Agri Stack and Krishi Decision Support System.
• Includes advanced data collection and analysis for better crop

The correct answer is USD 500 million.

In News

• International Finance Corporation (IFC), the private lending arm of the World Bank Group (WBG), has partnered with Axis Bank to provide a USD 500 million loan.

Key Points

• The loan aims to develop a blue finance market and support the financing of green projects in India.
• This is IFC’s first blue investment in India and the first blue transaction by a financial institution in the country.
• The water and wastewater treatment market in India is expected to grow, with an estimated market size of USD 3 billion by 2029.

Additional Information

• International Finance Corporation (IFC)
• IFC is a member of the World Bank Group and focuses on private sector development in emerging markets.
• Axis Bank
• Axis Bank is one of India’s leading private sector banks, known for its wide range of financial products and services.

The correct answer is Daava Soochak.

In News

• The Deposit Insurance and Credit Guarantee Corporation (DICGC) has launched an online tool “Daava Soochak” for depositors to track their claim status.

Key Points

• Depositors can use the Daava Soochak tool to track the status of their claims for banks placed under All Inclusive Directions (AID) post-April 1, 2024.
• The DICGC’s primary role is to reimburse insured amounts to depositors of failed banks.
• The deposit insurance coverage limit has been enhanced to Rs 5,00,000 per depositor as of February 4, 2020.

Additional Information

• Deposit Insurance and Credit Guarantee Corporation (DICGC)
• Headquarters: Mumbai, Maharashtra.
• Chairman: M.D. Patra.

The correct answer is ₹5,113 crore.

In News

• Deutsche Bank has infused ₹5,113 crore into its Indian operations, marking its largest capital allocation to the country in recent years.
• This capital infusion has increased the bank’s regulatory capital in India by 33%, bringing it to nearly ₹30,000 crore.
• The move demonstrates Deutsche Bank’s long-term commitment to India and its strategic importance in global growth plans.

Key Points

• This is the largest capital infusion by Deutsche Bank into India, following previous injections of ₹3,800 crore in 2019 and ₹2,700 crore in 2020.
• Deutsche Bank’s profit after tax in FY24 surged by 35%, indicating strong performance in the Indian market.
• The bank’s focus areas in India include digital transformation, sustainable finance, and infrastructure development.

Additional Information

• Historical Investments
• In 2019, Deutsche Bank infused ₹3,800 crore, followed by ₹2,700 crore in 2020.
• Over the past decade, the bank’s capital base in India has tripled, reflecting its growth strategy.
• Focus Areas
• Digital transformation, sustainable finance, and infrastructure development are key growth areas.
• India’s role in global supply chain shifts and digital growth underpins Deutsche Bank’s investment strategy.

The correct answer is 10-Year Sovereign Green Bonds (SGrBs).

In News

• The Reserve Bank of India (RBI) has included 10-year Sovereign Green Bonds (SGrBs) under the Fully Accessible Route (FAR) for non-resident investments.
• These bonds will be issued by the government in the second half of FY2024-25, aligning with India’s inclusion in global bond indices.

Key Points

• The FAR allows non-residents, such as FPIs, NRIs, and OCIs, to invest in specified Government of India securities without investment limits.
• In FY2024-25, the government plans to issue ₹20,000 crore through four SGrB issuances, including two bonds of 10-year tenor and two of 30-year tenor.
• Sovereign Green Bonds were first included in the FAR list in 2022-23, reflecting India’s alignment with global sustainability goals.
• The FAR was introduced by the RBI in 2020 to attract international capital to Indian Government Securities (G-Secs).

Additional Information

• Fully Accessible Route (FAR)
• Introduced in 2020 by the RBI and the Government to facilitate non-resident investment in Indian G-Secs.
• Ensures transparency and unrestricted access for eligible investors, enhancing India’s global financial integration.
• Sovereign Green Bonds (SGrBs)
• Issued to fund environmentally sustainable projects, contributing to India’s climate goals.
• Inclusion in global indices like JPMorgan’s GBI-EM GD index boosts international visibility and investor confidence.

The correct answer is International Finance Corporation (IFC).

In News

• The International Finance Corporation (IFC) has partnered with Bajaj Finance Ltd. (BFL), committing $400 million as part of a $1 billion fundraising initiative.
• This investment will expand financing for electric vehicles (EVs), energy-efficient consumer goods (EECG), and women-owned micro-enterprises.
• The initiative supports India’s climate goals and promotes financial inclusion.

Key Points

• The partnership will help Bajaj Finance increase its climate loans from $150 million in 2024 to $600 million by 2027.
• It focuses on financing electric 2-wheelers, 3-wheelers, 4-wheelers, and energy-efficient products.
• Special attention is given to empowering women-owned micro-enterprises, promoting gender equality in business.
• The initiative aligns with India’s climate goals, including reducing emissions intensity by 45% by 2030.

Additional Information

• About IFC
• A member of the World Bank Group, IFC focuses on providing development finance and private sector solutions in emerging markets.
• In 2024, IFC committed a record $56 billion to various projects globally.
• About Bajaj Finance
• One of India’s largest non-banking financial companies, BFL offers a diversified portfolio across retail, SMEs, and commercial sectors.
• BFL’s initiatives are driven by ESG principles and support sustainable development$.

The correct answer is IDFC FIRST Bank.

In News

• IDFC FIRST Bank, in partnership with Swift, introduced a real-time tracking service for international money transfers in October 2024.
• This makes IDFC FIRST Bank the first Indian bank to offer end-to-end traceability for cross-border payments.
• The service is available on the bank’s mobile app and internet banking platforms.

Key Points

• Swift GPI integration enables real-time monitoring of funds during international transfers.
• Customers can check the status of funds, whether in transit or credited to the recipient, through the mobile app or internet banking.
• The service is offered under the “Pay Abroad” feature with no additional charges.
• Permitted purposes include education, medical expenses, and family maintenance under RBI’s Liberalised Remittance Scheme (LRS).

Additional Information

• About the Service
• Alerts users to issues such as incomplete recipient information, enabling quick corrections.
• Provides transparency and speed akin to UPI and IMPS payments for international transactions.
• About IDFC FIRST Bank
• Known for its customer-first philosophy and technology-driven solutions.
• Aims to align with global banking standards while ensuring ethical and transparent banking services.