General Knowledge(GK) (or) General Awareness

Correct Answer :   Agni-1

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Correct Answer :   India

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Correct Answer :   5.5%

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JP Morgan raised its forecast for India's annual growth by 50 basis points to 5.5% for fiscal 2024, but warned that a global economic slowdown and tighter financial conditions will still drag the economy.

* The change comes after growth in India's gross domestic product (GDP) accelerated to 6.1% in the March quarter, government data showed, boosted by government and private capital spending even as private consumption remained sluggish.

* The economy also grew at a better-than-expected 7.2% for fiscal 2023.

* "Global growth momentum is still expected to slow in the coming quarters and, domestically, the impact of monetary policy normalisation will be felt with a lag," economists led by Sajjid Z Chinoy said.

* The Indian government revised its full-year growth estimate for the current financial year to 7.2% from 7% on Wednesday (31st May 2023), above the Reserve Bank of India's estimate of 7%. India's economy grew 9.1% in fiscal 2022.

* The brokerage added the growth could see upsides if the central government can pull off the "very strong increase" in budgeted capex for fiscal 2024 and convince the states to do the same. However, the economy could take a hit if the El Nino phenomenon impacts this year's monsoon, it added.

* The Wall Street Bank attributed the better-than-expected March-quarter GDP to higher growth in exports, adding that India stood to benefit, as a commodity importer, "through positive terms-of-trade impulses from lower commodities."..

Source : The Hindu Businessline

Correct Answer :   Jyothi Yarraji

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Jyothi Yarraji bagged the gold medal in the women’s 100m hurdles event in the T-Meeting 2023 athletics meet, in Tilburg, the Netherlands, on Monday (29th May 2023).

* In the category E World Ranking competition the 23-year-old clocked 13.20s in the final to secure victory in the event.

* Jyothi Yarraji topped the heats with a time of 13.08s as she made her way to the final.

* "Angel Agwazie" of Belgium clinched the silver medal as she clocked 13.64s.

* While the Dutch athlete "Mira Groot" clocked 13.78s to bag the bronze.

* With this, Jyothi won her second gold medal in a span of two days. The Andhra runner clinched the first gold medal in the women’s 100m hurdles event at the Kurpfalz Gala 2023 athletics meet, in Weinheim, Germany on Saturday.

* In Germany, she managed to clock a season-best time of 12.84s. She was just 0.02 seconds off her own national record in the final to medal at the World Athletics Continental Tour Challenger meet.

* Earlier this month, the Indian athlete clocked 12.89s at the Federation Cup 2023 in Ranchi to make the cut for the Asian Athletics Championships, which is scheduled in Thailand this July.

* She also managed to finish fourth in the women’s 100m heats at the T-Meeting 2023 with a timing of 11.76s. However, she did not participate in the finals.

* India’s Sapna Kumari finished fourth in the heats of the women’s 100m hurdles event but didn’t start in the final.

* Meanwhile, Mohammed Afsal Pulikkalakath clocked 48.43s to win a bronze medal in the men’s 400m event at the Tilburg meet.

* The 27-year-old athlete has a personal best of 48.22, which he clocked in Thenhipalam, Kerala in 2022..

Source : ANI

Correct Answer :   Bajaj Allianz Life

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Bajaj Allianz Life has launched a Diabetic Term Plan Sub 8 HbA1c to specifically provide insurance coverage to pre-diabetics and Type-2 diabetics in India.

The plan considers HbA1c levels and offers a 10 per cent premium reduction for those meeting health goals.

The policy term ranges from five to 25 years, and premiums can be paid monthly or annually. Bajaj Allianz Life announced in a press statement that many diabetics struggle to obtain comprehensive life cover, thus hindering their ability to secure their family’s future.

Tarun Chugh, managing director and CEO, Bajaj Allianz Life, said that the Diabetic Term Plan Sub 8 HbA1c is the first-of-its-kind in the Indian life insurance industry, specifically designed for Type-2 diabetics and pre-diabetics.


​​​​​Premium and features of plan :

* It is a non-linked, non-participating, pure-risk premium life insurance plan. As a pure-term insurance product, no benefit is payable upon survival till maturity, and there is no surrender value either.

* Premiums are determined based on factors, such as age, gender, health status and HbA1c level. HbA1c is a blood test, in which pre-diabetics have HbA1c level in the range of 5.7-6.4 per cent, while diabetics have HbA1c level of 6.5 per cent or above.

* The minimum and maximum entry age is 30 years and 60 years, respectively.

* According to the insurer, for a sum assured of Rs 50 lakh, a 35-year-old male, non-smoker will have to pay an annual premium of Rs. 11,802 for a 10-year policy term, and Rs. 14,887 for a 20-year term.

* Likewise, a 45-year-old would pay Rs. 23,656 and Rs. 31,879 annually for 10- and 20-year terms, respectively.

* The plan pays a sum assured on death of the insured.

The amount is higher of either  :

a) 10 times the annualised premium
b) 105 per cent of total premiums paid till the date of death or
c) sum assured.

The policy also allows a grace period of 15 days for premiums paid on a monthly mode, and 30 days for other modes. During the grace period, the life assured will be covered for the death benefit..

Source : Outlook India

Correct Answer :   Aegon Life Insurance

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Aegon Life has become the first insurance company to launch a policy that covers surrogate mothers and egg donors. This initiative aims to support the financial well-being of surrogate mothers and egg donors.

* The new cover aligns with the Surrogacy (Regulation) Act, 2021 and the Assisted Reproductive Technology (Regulation) Act, 2021, introduced by the Ministry of Health & Family Welfare.

* The innovative coverage provides a three-year life cover for surrogate mothers and a one-year cover for egg donors, offering protection against any life-threatening complications that may arise from these procedures.

* The policy provides financial protection to their nominees in the event of their death. This group plan is available through fertility and surrogate clinics registered with the Assisted Reproductive Technology (ART) regulatory body. Since the beginning of this year, Aegon has already provided coverage for more than 100 surrogacy procedures.

* Surrogate mothers and egg donors were earlier not covered under insurance despite the health risks posed by the process. Aegon Life is a joint venture betwen Dutch insurance group Aegon and the TimesGroup which publishes the Times of India.

* Satishwar B., the Managing Director and CEO of Aegon Life Insurance, said the company's advanced digital infrastructure enabled the swift development of this comprehensive and affordable solution..

Source : India Times

Correct Answer :   7.2%

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India's Gross Domestic Product (GDP) clocked a higher-than-expected growth rate of 6.1 per cent in January-March 2023, in turn pushing up the growth estimate for full year 2022-23 to 7.2 per cent, according to data released Wednesday by the National Statistical Office (NSO).

* This is higher than NSO’s advance estimates of 7 per cent for 2022-23.

* A pickup in services sector growth led by construction, and trade, hotels, transport sectors along with higher investment supported growth even as private final consumption expenditure registered a muted growth.

* India’s GDP in FY23, however, will be lower than the growth rate of 9.1 per cent in 2021-22.

* Sequentially, in quarterly terms in 2022-23, the economy grew 13.1 per cent in April-June (earlier 13.2 per cent), 6.2 per cent in July-September (earlier 6.3 per cent), 4.5 per cent in October-December (earlier 4.4 per cent).

* Agricultural growth was estimated at 5.5 per cent in Q4 as against 4.1 per cent in the year-ago period and 4.7 per cent in the previous quarter. Manufacturing growth rebounded to a year-on-year growth of 4.5 per cent in Q4 FY2023 after having contracted in each of the previous two quarters.

* For the full year though, revisions for the previous quarter ensured manufacturing growth being estimated now at 1.3 per cent for FY23 as against 0.6 per cent earlier.

* Experts said the uptick in manufacturing reflects growth in volumes as well as an improvement in margins during the fourth quarter, partly on account of a sustained moderation in input costs.

* Commenting on the GDP data, Chief Economic Adviser V Anantha Nageswaran said the revised numbers to be released next year for FY23 could push the GDP growth further beyond 7.2 per cent. “I think I can stick my neck out and say that when the revised numbers for FY23 are released next year, there might be an upward revision to the 7.2 percent GDP growth figure.

Source : Indian Express

Correct Answer :   RINL

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RINL has bagged the prestigious "GreenTech Safety Award 2023" under Safety Excellence Category for its outstanding contribution to improve workplace safety in the year 2022-23.

* The prestigious GreenTech Safety Award 2023 award was received by Shri A K Bagchi - Director (Projects) and Additional Charge Director (Operations), RINL on behalf of RINL from Sri Jagdish Mukhi, Former Governor of Assam at the 21st Annual Greentech awards function held at New Delhi on 30th May 2023.

* 21st GREENTECH SAFETY AWARD 2023 organized by the Greentech Foundation, recognises and honors the outstanding organisations that are taking responsibility for defining a commercial future by adding value through excellence in fire, safety, health and security management for corporate citizenship, transparent accountability, life cycle stewardship, strategic sustainability and conducting fair business in a disciplined manner that delivers a shared future for all stakeholders through commitment, dedication with a goal of zero injuries.

* The Jury members of GreenTech foundation also applauded RINL for the initiatives like use of Drone technology for inspection of high-rise structures, chimneys etc, development of Software Application for tracking the usage of Safety Harnesses and also for imparting Safety Trainings through Online platforms (Webinars).

* Sri ABCP Sharan - Chief Executive Officer, Greentech and several other dignitaries also graced the program..

Source : PIB

Correct Answer :   Asian Development Bank

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The Asian Development Bank (ADB) on Tuesday (30 May 2023) said it would contribute to India’s urban-focused flagship programmes and schemes on developing industrial corridors, multimodal logistics systems, urban infrastructure, skill ecosystem, and small businesses as part of a new country partnership strategy for India.

* “During 2023–2027, ADB operations in India will focus on accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness,” the multilateral institution said in a statement, though it provided no details on how exactly the contributions to central and state schemes will pan out, and what the monetary outlay will be.

* The new strategy will focus on ADB deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.

* “This will enable urban areas to unlock their potential as engines of growth, promote industrial competitiveness, and create more jobs in formal manufacturing and services sectors,” it said.

* ADB noted that India has quickly rebounded from the impact of Covid-19 pandemic, with economic growth projected at 6.4 per cent in FY24 and now ranks among the fastest-growing major global economies. This is similar to the Centre’s own projection for the current fiscal year of 6.5 percent GDP growth.

* ADB said India needs to accelerate and sustain inclusive growth by tackling critical challenges in infrastructure and human development, income and regional disparities, and vulnerability to climate change and natural hazards..

Source : Business Standard

Correct Answer :   FICCI

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The Federation of Indian Chambers of Commerce and Industry (FICCI), the largest and oldest apex business organisation in India, has awarded the Brihanmumbai Electric Supply and Transport (BEST) Undertaking top honours in the 'Smart Mobility' category for BEST's transformation towards progressive mobility, an official statement from the BEST said on Tuesday (30th May 2023).

Reason : Pioneering efforts in adopting green and sustainable practices.

It said that the BEST has been working on their transformation for 2 years, as below:

1. 10.000 Electric Buses - Convert the entire fleet to electric and grow it to 10,000 buses to meet global standards. The fleet will double from 3,219 to 7,000 by 2023 and grow to 10,000 by 2026.

2. 100 per cent Renewable Energy - The entire fleet will be powered by renewable solar energy. The 700 MW of solar energy needed for this has already been procured. In addition, 330 public EV charging points are also being set up to encourage citizens to migrate to electric vehicles.

3. Digital Tickets on NCMC and BEST Chalo App - BEST's digital tickets initiative has been India's most successful ever. The app offers mobile tickets, passes, live tracking and live seat status, and is used by 1 in 3 bus passengers daily. BEST has also launched India's first National Common Mobility Card (NCMC) ever launched by any city/state bus utility.

4. 100 per cent Digital Buses - BEST operates India's first 100 per cent digital buses where passengers use the BEST mobile app or card to 'tap-in' and 'tap-out' themselves.

5. Premium Buses - BEST launched India's first app-based premium city bus services with specially designed luxury buses. These buses connect business and residential hubs, and operate 'Airport Express Buses' to improve connectivity to Mumbai airport, India's second-largest airport

6. First And Last Mile Services - BEST is the world's first bus transport undertaking to introduce e-scooters at bus stops for last mile connectivity. 1,000 e-scooters have already been deployed at 200 points, and this will grow to 5,000 e-scooters in 2023.

7. Mobility-As-A-Service (MaaS) - The entire passenger experience has been digitised. All these services are available on a single platform on the BEST Chalo App, to ensure seamless and hassle-free door-to-door journeys. BEST is the first in India to implement MaaS philosophy.

Results- 55 per cent increase in ridership, path to financial sustainability..

Source : mid-day