Current Affairs One - Liner : 28th June 2024

• National:
• Indian shipyard GRSE inked a deal with a German firm to build four multi-purpose cargo ships for around $54 million. The vessels will be 120 meters long and capable of carrying 7,500 tons of cargo each. There's also an option for the German company to order four more ships in the future.

• YEIDA and Bebu Project LLP joined forces to develop a film city in Greater Noida. This ambitious project, valued at approximately 1,510 crore rupees, is expected to be completed within eight years. The initial phase will prioritize establishing core film infrastructure and a film institute, aiming to make it a premier destination for filmmakers.
• Banking:
• In March 2024, the gross non-performing asset (NPA) ratio of scheduled commercial banks (SCBs) fell to a 12-year low of 2.8%, according to the Reserve Bank of India's (RBI) Financial Stability Report.
• SEBI recently constituted a 15-member working group to review derivative trading norms. The group will focus on investor protection and risk management in the derivatives market.
• Science & Technology:
• Dendrophthoe longensis (Andaman & Nicobar Islands) - parasitic plant found on mango trees. Petrocosmea arunachalense (Arunachal Pradesh) - cave-dwelling herb, second of its genus in India.
• Defence:
• India's DRDO completed six consecutive developmental trials for their high-speed aerial target "Abhyas" in June 2024. This achievement marks the completion of 10 total developmental tests for Abhyas, paving the way for a reliable training target for the Indian Armed Forces.
• Appointments:
• SEVENTEEN made history on June 26th, 2024! They became the very first K-Pop group to be named UNESCO Goodwill Ambassador for Youth. This role allows them to champion important issues for young people globally.
• Naveen Chandra Jha was appointed as the new Managing Director and Chief Executive Officer of SBI General Insurance on June 26, 2024. He was nominated for the position by the parent company, State Bank of India, and he succeeded Kishore Kumar Poludasu.
• Indian cricket legend Kapil Dev has taken charge as the president of the Professional Golf Tour of India (PGTI). The 1983 Cricket ODI World Cup-winning captain became a PGTI board member in 2021 and now succeeds HR Srinivasan in this role.
• Awards & Honours:
• Mazagon Dock Shipbuilders, a warship builder, became India's first shipyard to get Navratna status on June 25, 2024. This recognizes their financial strength. Central Electronics Limited (CEL) also received Mini Ratna (Category-1) status on the same day for their achievements in electronics manufacturing.
• Doon School Srinagar won the "Award for Transformative Education Excellence" at the Indo-Norway Education Summit 2024. The ceremony was held on June 5, 2024, recognizing the school's innovative approach to education.

Questions:

1 What was the gross non-performing asset (NPA) ratio of scheduled commercial banks (SCBs) in March 2024, according to the RBI's Financial Stability Report?

• A) 5%
• B) 3.5%
• C) 2.8%
• D) 1.2%

Answer: C) In March 2024, the gross non-performing asset (NPA) ratio of scheduled commercial banks (SCBs) fell to a 12-year low of 2.8%, according to the Reserve Bank of India's (RBI) Financial Stability Report.

2 Who was appointed as the new Managing Director and Chief Executive Officer of SBI General Insurance?

• A) Kishore Kumar Poludasu
• B) Naveen Chandra Jha
• C) State Bank of India
• D) None of the above

Answer: B) Naveen Chandra Jha was appointed as the new Managing Director and Chief Executive Officer of SBI General Insurance on June 26, 2024.