The correct answer is Space Sector

In News

•  The Centre has approved an amendment in the Foreign Direct Investment, FDI policy, allowing 100% foreign investment in the Space sector.in Feb 2024.

Key Points

• The Indian government has approved up to 100% foreign direct investment (FDI) in certain activities within the space sector.
• The FDI policy changes include different limits for various segments within the satellite sector, with up to 49% FDI permitted in launch vehicles and associated systems/subsystems, up to 74% in satellite manufacturing and operation, and 100% in manufacturing components and systems/subsystems.
• The decision aims to attract foreign investors and private companies to the rapidly growing space industry in India.
• It aligns with the strategic vision outlined in the Indian Space Policy 2023 to tap into the potential of non-government entities (NGEs) and drive technological advancements.
• India aims to enhance its presence in the global space market, with plans to privatize space launches and increase its share from the current 2% to capitalize on an industry projected to reach $47.3 billion by 2032.
• The approval is seen as a significant step towards boosting innovation, attracting investments, and positioning India as a key player in the global space economy, fostering job creation and leveraging technological advancements.

The correct answer is Ayush Wellness Center

In News

•  Chief Justice of India DY Chandrachud inaugurated the Ayush Holistic Wellness Center, promoting a holistic lifestyle.

Key Points

• This initiative aligns with Prime Minister Narendra Modi's encouragement towards adopting practices that enhance personal health and well-being through traditional methods.
• The center represents a movement towards integrating Ayurveda, Yoga, and other traditional health practices into mainstream wellness approaches.
• The event highlights the emphasis on Ayush (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy) since the COVID-19 pandemic, showcasing a growing preference for vegan and holistic lifestyles among high-profile individuals like Chief Justice DY Chandrachud.

Additional Information

• The Ministry of Ayush is responsible for promoting traditional and alternative medicine systems in India, including Ayurveda, Yoga & Naturopathy, Unani, Siddha, Sowa Rigpa, and Homeopathy.
• It was established as the Department of Indian Systems of Medicine and Homeopathy (ISM&H) in 1995 under the Ministry of Health and Family Welfare, later renamed as the Department of AYUSH.
• The department was elevated to a ministry status by the Modi government in 2014.
• The ministry has faced criticism for funding alternative healthcare systems that lack biological plausibility and scientific evidence.

The correct answer is Union Finance Minister Nirmala Sitharaman

In News

•  Union Finance Minister Nirmala Sitharaman chaired the 28th Meeting of the Financial Stability and Development Council (FSDC) in New Delhi in Feb 2024.

Key Points

• The 28th Meeting of the Financial Stability and Development Council (FSDC) was chaired by Union Finance Minister Nirmala Sitharaman, highlighting her role in guiding the discussions on financial stability and development within the country.
• The FSDC is a crucial platform for high-level dialogue among the financial sector regulators, the Finance Ministry, and other stakeholders to ensure the stability and vigour of the Indian economy.
• The meeting focused on formulation strategies for implementing FSDC decisions and making announcements relevant to India's budgetary frameworks
• The presence of Union Finance Minister Nirmala Sitharaman emphasizes the priority given by the Indian government towards ensuring the health and stability of the financial system amidst various economic challenges.
• Topics of discussion during the meeting included the macro-prudential supervision of the economy and monitoring the functioning of large financial conglomerates, thereby aiming at strengthening the foundations for sustainable economic growth

The correct answer is MeitY, Microsoft, and iCreate

In News

•  MeitY, Microsoft, and iCreate have collaborated to support and transform startups focused on creating AI solutions, aiming to catalyze the AI startup ecosystem in India.

Key Points

• The Ministry of Electronics and Information Technology (MeitY), Microsoft, and Ahmedabad-based iCreate have united in a collaboration aimed at transforming and boosting startups that are focused on creating AI (Artificial Intelligence) solutions.
• The partnership between these entities is designed to support the startup ecosystem by providing necessary resources, mentorship, and technology assistance.
• The primary objective is to catalyze the growth of AI startups, leveraging the unique strengths and offerings of each partner organization to facilitate innovation in the AI domain
• Through this collaboration, startups will gain access to advanced AI tools, cloud computing resources, and expertise from industry leaders.
• This is expected to significantly accelerate the development of AI solutions, thereby contributing to India's position as a hub for technological innovation and startup growth in the field of artificial intelligence

The correct answer is The Indian Farmers Fertiliser Cooperative (IFFCO)

In News

•  The Indian Farmers Fertiliser Cooperative (IFFCO) has been recognized as the number 1 cooperative among the top 300 cooperatives globally.

Key Points

• The ranking is particularly based on the ratio of turnover to the Gross Domestic Product (GDP) per capita. 
• Being ranked at the top among the world cooperatives based on such a significant economic indicator not only marks a milestone for IFFCO but also underscores the vital role cooperatives play in the agricultural and economic sectors of their respective countries.
• IFFCO's ranking reflects its considerable contribution to the GDP and the economic growth of the nation.

The correct answer is 80th

​In News

•  India is ranked as the 80th most targeted country worldwide in terms of cybercrime.

Key Points

• In 2023, India was ranked 80th worldwide in terms of being targeted by cybercrime. This ranking gives an insight into the magnitude and frequency of cyber threats faced by users in the country.
• Approximately 34% of users in India were affected by local threats during the period under review. This translates to a significant portion of the population experiencing some form of cybersecurity issue.
• The total number of cybercrime incidents affecting users in India amounted to 74 million. This number highlights the vast scale of cybersecurity challenges within the country.
•  Enterprises in India are increasingly recognizing the importance of cybersecurity. One of the responses to this challenge has been the growing trend of outsourcing security functions. This suggests a shift in how businesses are approaching the need for enhanced cybersecurity measures.

The correct answer is M. R. Kumar

In News

•  M. R. Kumar has been appointed by the Appointments Committee of the Cabinet (ACC) as the non-executive chairman for the Bank of India (BOI) in Feb 2024.

Key Points

• The Appointments Committee of the Cabinet (ACC) is involved in the high-level appointments in public sector organizations, in this case, appointing non-executive chairmen for several banks
• M. R. Kumar, who is the former Chairman of the Life Insurance Corporation of India (LIC), has been appointed as the non-executive chairman of the Bank of India (BOI). This is a significant appointment aiming to bring experienced leadership to the bank
• The role of a non-executive chairman is typically to provide governance oversight, strategic direction without being involved in the day-to-day management of the organization.
• Aravamudan Krishna Kumar named non-executive Chairman of UCO Bank, also for a 3-year term, conditions apply regarding prior board memberships.

The correct answer is ₹19,000 crore

In News

•  The mega deal approved by the Cabinet Committee on Security for acquiring BrahMos missiles for the Indian Navy in Feb 2024 is valued ₹19,000 crore.

Key Points

• The Cabinet Committee on Security approved a significant defense deal valued at ₹19,000 crore.
• The deal focuses on equipping the Indian Navy with BrahMos missiles, a critical enhancement for India's maritime defense capabilities.
• BrahMos missiles are known for their supersonic speeds and precision striking capabilities, making them a strategic asset for the Navy.
• This move underscores India's commitment to strengthening its naval force and ensuring robust maritime security through advanced technology.

The correct answer is Maritime Technology Exchange 2024 (MTEX-24)

In News

•  Defence Minister Rajnath Singh inaugurated the Maritime Technology Exchange 2024 (MTEX-24), an event dedicated to showcasing the latest advancements in naval technology.

Key Points

•  The key points of MTEX-24 include:
  • Focus on the exhibition and demonstration of new and emerging naval technologies.
  • Intended to foster collaboration between defense sectors, technology innovators, and industry leaders.
  • Supports the goal of enhancing the operational capabilities and efficiency of the Indian Navy through technological innovation.
  • Aims to contribute towards achieving the broader defense self-reliance under the Atmanirbhar Bharat initiative.
• This initiative demonstrates the government's commitment to modernizing the defense forces and securing maritime interests with advanced technological support.

The correct answer is Ashish Vijayakar

In News

•  Ashish Vijayakar has been appointed as the Managing Director and Chief Executive Officer of SBM Bank India in Feb 2024.

Key Points

• Ashish Vijayakar has been appointed as the Managing Director and Chief Executive Officer of SBM Bank India, marking a significant leadership change in the bank.
• With a career spanning approximately three decades in the banking and financial services sector, Vijayakar brings a wealth of experience and expertise to his new role at SBM Bank India.
• The appointment is set for three years starting from February 17, indicating the bank's confidence in Vijayakar's abilities to steer the institution towards its goals.