General Knowledge(GK) (or) General Awareness

Correct Answer :   India

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The Indian hockey team clinched the Women’s Junior Asia Cup 2023 title in Kakamigahara, Japan, with a 2-1 win over the Republic of Korea in the final on Sunday (11th June 2023).

This is the first time India have won the Women's Junior Asia Cup. India had already secured a spot in the FIH Women's Junior World Cup 2023 in Chile.

Japan beat China 2-1 to become the third team to qualify for the World Cup scheduled this year (2023).

For India, Annu (21') and Neelam (40’) were on target while Seoyeon Park (24’) scored the solitary goal for Korea.

India started the game on an attacking note by winning a penalty corner in the opening minute of the game but they failed to capitalise on it. However, Korea resorted to counter-attacks and controlled the possession. Despite both teams playing attacking hockey, the first quarter ended goalless.

Korea stuck to their approach in the second quarter and pushed India on the back foot. However, India took the lead through Annu who converted via a penalty stroke.

India’s lead, however, didn’t last long as Seoyeon Park scored an equaliser for Korea via a field goal. The second quarter didn’t witness any more goals as both teams went into the half-time break with the scores levelled at 1-1.

Earlier this month, India also won the Men’s Junior Asia Cup hockey tournament after beating arch-rivals Pakistan in the final..

Source : Olympics

Correct Answer :   Murali Sreeshankar

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Ace Indian long jumper Murali Sreeshankar secured a creditable third place in the 2023 Diamond League meet at Paris, France.

* With a jump of 8.09m, in his maiden podium finish in the prestigious one-day meeting series in Paris.

* Commonwealth Games silver medallist Sreeshankar achieved his best jump of the day in his third attempt.

* Sreeshankar also became the only third Indian to finish in the top three of a Diamond League after Olympic champion javelin thrower Neeraj Chopra and former discus thrower Vikas Gowda.

* Olympic Champion Miltiadis Tentoglou of Greece and Simon Ehammer of Switzerland finished ahead of Sreeshankar with jumps of 8.13m and 8.11m respectively.

* Prime Minister Narendra Modi and Sports Minister Anurag Singh Thakur have congratulated Indian long jumper Murali Sreeshankar for his rare feat..

Source : AIR

Correct Answer :   INS Trishul

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The Indian Navy’s frontline warship INS Trishul arrived at Durban port in South Africa on Wednesday(7th June 2023) to commemorate the 130th anniversary of the 7 June 1893 incident at Pietermaritzburg railway station when Mahatma Gandhi was evicted from a train, which led to his fight against racial oppression.

The warship’s three-day visit to Durban is in continuation with the Navy’s celebration of 75 years of India’s independence and will also mark 30 years of the restoration of diplomatic relations between India and South Africa, the defence ministry said.

INS Trishul will participate in a commemorative event at Pietermaritzburg railway station which would include paying floral tributes at the Gandhi Plinth, and a performance by the Indian Navy band. The ship will also participate in other professional and social engagements during the visit.

A ‘Gandhi-Mandela-King Conference’ will also be held in collaboration with the Pietermaritzburg Gandhi Foundation and the University of KwaZulu-Natal..

Source : Hindustan Times

Correct Answer :   Novak Djokovic

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Novak Djokovic won his men’s-record 23rd Grand Slam title with a victory over Casper Ruud in French Open 2023 Final.

Djokovic broke a tie with rival Rafael Nadal for the most major singles trophies in the history of men’s tennis. The Serb moves into the outright lead of men’s majors ahead of Rafael Nadal. He also becomes the first man to win all four majors at least three times.

By winning his 23rd Slam title at the French Open beating Norwegian world No. 4 Casper Ruud 7-6(1), 6-3, 7-5 in the final. Djokovic broke away from Rafael Nadal in the men’s pecking order. Joining Serena Williams on the most Slam count by any player in the Open Era, he also became the first man to win all the Majors at least thrice.

This year, the Roland Garros tournament or French open has seen a significant increase in the total prize money, reaching an impressive €43.9 million. This reflects a notable rise of 13.76 percent compared to the previous year. As a result of his outstanding performance at the tournament, Djokovic will be awarded a prize money of €2,300,000 ($2,496,039), which is a 4.55 percent increase from the amount given twelve months ago.

The runner-up, Casper Ruud, will receive €1,150,000 ($1,248,019) as a recognition of his commendable efforts in the competition.

Correct Answer :   Tokito Oda

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Japan's Tokito Oda (17) has defeated top-ranked Alfie Hewett from Britain 6-1, 6-4 to win the 2023 French Open wheelchair Men's singles title.

* With this win, he also become the sport's youngest Grand Slam champion.

* While Diede de Groot from Netherlands has secured the 2023 French Open – Wheelchair women's singles.

* Alfie Hewett and Gordon Reid (Britain) won the Men's Double title, and Yui Kamiji and Kgothatso Montjane won the Women's Double title..

Source : Itftennis

Correct Answer :   Go Digit Life Insurance

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The Insurance Regulatory and Development Authority of India (Irdai) on Friday (9th June 2023) said it has granted life insurance business licence to Go Digit Life Insurance Limited.

Go Digit, a firm backed by Canada-based Fairfax Group, is already in the general insurance business.

With the latest addition, the number of insurers operating in the life insurance segment has gone up to 26.

"Insurance Regulatory and Development Authority of India (Irdai) in its 122nd meeting held on June 02, 2023, has granted a Certificate of Registration to a new life insurer namely, Go Digit Life Insurance Limited to carry life insurance business in India".


Go Digit General Insurance’s IPO :

Proceeds from the fresh issuance have been proposed to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes.

Cricketer Virat Kohli and his wife and actor Anushka Sharma are among the investors in the firm.

Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products, to meet the needs of the customers. It is one of the first non-life insurers in India to be fully operated on the cloud and has developed application programming interface (API) integrations with several channel partners..

Source : Mint

Correct Answer :   RBI

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The Reserve Bank of India (RBI) has taken a significant step to enhance the trade receivables discounting system (TReDS) by allowing insurance companies to participate as stakeholders. This move is aimed at improving the cash flows of Micro, Small, and Medium Enterprises (MSMEs) and promoting transparency and competitiveness in the financing of trade receivables.

Introduction of TReDS : The RBI issued guidelines on TReDS in December 2014 with the objective of facilitating the financing of trade receivables of MSMEs. Subsequently, three entities started operating TReDS platforms. These entities process about Rs 60,000 crore worth of transactions annually.

Expanding the Platform : Building on the experience gained, the RBI has decided to expand the scope of the TReDS platform. In addition to MSME sellers, buyers, and financiers, insurance companies are now permitted to participate as the “fourth participant” in TReDS, according to a circular issued by the RBI.

Enhancing Financiers’ Confidence : Financiers place their bids on the TReDS platforms keeping in view the credit rating of buyers. They are generally not inclined to bid for payables of low-rated buyers. However, they are often reluctant to bid for payables from low-rated buyers due to default risks. To address this concern, the RBI has allowed an insurance facility for TReDS transactions. This insurance facility will enable financiers to hedge default risks and boost their confidence in participating in TReDS.

Insurance Facility and Rules : The TReDS platform operators have the authority to determine the stage at which the insurance facility can be availed, as stated by the RBI. It is important to note that the premium for insurance will not be charged to the MSME sellers, ensuring that the burden does not fall on them.

Expanding the Pool of Financiers : TReDS transactions fall under the ambit of factoring business. Initially, banks, NBFC-Factors, and other financial institutions were permitted to participate as financiers in TReDS. However, the Factoring Regulation Act, 2011 (FRA) allows certain other entities and institutions to undertake factoring transactions. To align with the FRA, the RBI has expanded the pool of financiers by permitting all entities/institutions allowed to undertake factoring business under the FRA and its associated rules and regulations to participate in TReDS. This broader participation will increase the availability of financiers on TReDS platforms.

Promoting Transparency and Competition : TReDS platforms play a vital role in facilitating transparent and competitive bidding by financiers. With the inclusion of insurance companies as participants, the RBI’s expansion of the TReDS platform aims to create a more robust ecosystem for trade receivables financing. By providing insurance facilities and broadening the pool of financiers, the RBI intends to support MSMEs by improving their cash flows and reducing default risks.


Key Points about Trade Receivables Discounting System (TReDS) :

* Trade Receivables Discounting System (TReDS) is a platform introduced by the Reserve Bank of India (RBI) to facilitate the financing of trade receivables of Micro, Small, and Medium Enterprises (MSMEs).

* TReDS platforms aim to improve the cash flows of MSMEs by allowing them to access funds against their trade receivables in a transparent and competitive manner.

* The RBI issued guidelines for TReDS in December 2014, and since then, three entities have been operating TReDS platforms in India.

* TReDS platforms process a substantial volume of transactions, with an estimated annual worth of approximately Rs 60,000 crore.

* The RBI has expanded the scope of TReDS by allowing insurance companies to participate as stakeholders. They are now considered the “fourth participant” alongside MSME sellers, buyers, and financiers.

* Financiers participating in TReDS platforms evaluate bids based on the credit rating of buyers. To address concerns about default risks, the RBI has permitted an insurance facility for TReDS transactions. This facility enables financiers to hedge against default risks, increasing their confidence in participating in TReDS..

Source : Economic Times

Correct Answer :   Shantanu Gupta

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Noted author Shantanu Gupta has launched his new graphic novel for young readers titled 'Ajay to Yogi Adityanath' based on the life journey of Yogi Adityanath on the Chief Minister's 51st birthday on Monday (5th June 2023).

More than 5,000 children from over 51 schools across different districts of Uttar Pradesh participated in the launch ceremony.

Collectively launching a children's book simultaneously in multiple locations with such a significant number of participants has earned a place in the Asia Book of Records, as claimed by the organisers.

Sharing details about this novel, Gupta said that 'Ajay to Yogi Adityanath' depicts the journey of Ajay Singh Bisht, a young boy born in the hinterlands of Uttarakhand along with six other siblings. Ajay's father, Anand Singh Bisht, served as a junior forest officer, while his mother, Savitri Devi, was a homemaker. Growing up, Ajay developed a fondness for taking care of the family's cows, listening to stories of freedom fighters, and participating in school debates.

The Adityanath's family resided in a small one-and-a-half-room house in the remote village of Panchur in present-day Uttarakhand. It was from this modest background that Ajay embarked on a remarkable journey. He eventually became the Mahant (chief priest) of the Gorakhnath Math, a prominent temple in Uttar Pradesh. This position served as a stepping stone for him to pursue a career in politics. He became the youngest member of the Indian Parliament and became the Chief Minister of Uttar Pradesh, the most populous state in India.

The author further added that 'Ajay to Yogi Adityanath' will pave the way for the students to emerge victorious in their future by inculcating the qualities of patience, determination and hard work in them. It is a compilation of inspiring memoirs told by Adityanath Yogi's father, the late Anand Singh Bisht, his mother Savitri Devi, his friends from Panchur village, classmates and teachers from his colleges in Kotdwar and Rishikesh, and comrades..

Source : ANI

Correct Answer :   Federal Bank

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Kerala-based  Federal Bank has launched (6th June 2023) a campaign to celebrate people and their culture by transforming an entire bank branch into a museum of local stories.

* The campaign aims to honour and celebrate the local community of Adyar.

* The Adyar branch of Federal Bank has been converted into a living museum for the campaign.

* Vibrant paintings depicting the vibrant spirit of Adyar now adorn the walls of the branch.

* The campaign features a special exhibition showcasing 40 compelling stories of the individuals who made Adyar special.

* The campaign aims to capture the essence of Adyar and promote its rich culture and heritage.

* It fosters a sense of pride and belonging among local residents.

* The 'I am Adyar, Adyar is me' campaign is an innovative initiative by Federal Bank to honour and recognize the Adyar community.

Federal Bank Limited :

* It is an Indian private sector bank headquartered in Aluva, Kochi, Kerala.

* The bank operates 1,370 branches in various states of India.

* Federal Bank has representative offices in Abu Dhabi, Qatar, Kuwait, Oman and Dubai.

* The bank provides a wide range of financial services to its customers including retail banking, corporate banking, treasury operations and wealth management.

* It emphasises a customer-centric approach and strives to provide efficient and convenient banking solutions.

Founder - K.P Hormis

Establishment - 23 April 1931, Nedumpuram

CEO - Shyam Srinivasan.

Correct Answer :   Gulf of Oman

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* The navies of India, France and the United Arab Emirates have carried out a two-day mega wargame in the Gulf of Oman reflecting their growing cooperation to deal with challenges in the maritime sphere. It was the first edition of the wargame involving navies of the three countries.

* Indian Naval ship INS Tarkash, French ship Surcouf, French Rafale aircraft and the UAE Navy's maritime patrol aircraft participated in the exercise that began on Wednesday (7th June 2023).

* "The exercise featured a wide spectrum of naval operations such as surface warfare, involving tactical firing and drills for missile engagements on surface targets, helicopter cross deck landing operations, advanced air defence exercise and boarding operations".

* Exercise Aim :  To enhance trilateral cooperation between the three navies and pave the way for adopting measures towards addressing traditional and non-traditional threats in the maritime environment..

Source : CNBC