Daily Current Affairs MCQs : 28 February 2024 - CUET Commerce MCQ

U.S. tech giant IBM Inc. has tied up with the Ministry of Electronics and Information Technology to advance and accelerate innovation in AI, semiconductor and quantum technology.

National Rural Livelihood Promotion Society (NRLPS), an autonomous body under the Ministry of Rural Development (MoRD) signed an MOU with BRAC International, a Global South-led organisation with a mission to empower people and communities.

• The MoU has been signed for inclusion of the poorest of the poor under Deendayal Antyodaya Yojana National Rural Livelihoods Mission (DAY-NRLM), a flagship programme under MoRD.
• The MoU was formalised by Additional Secretary and CEO of NRLPS, Charanjit Singh and Country lead for India, BRAC International, Ms. Shweta S Banerjee .

• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and leading NBFC, has signed agreements worth Rs. 588 crores with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region.
• The agreements aim to strengthen the cooperation between REC and DVC for the development of tubed coal mines, and include a Term Loan agreement, an Escrow agreement, and Hypothecation deeds.
• The agreements signed underscore the collaborative efforts of both organizations in promoting sustainable development and leveraging resources for the greater benefit of the community.

Zomato Payments Private Limited, the subsidiary of popular food delivery platform Zomato, has obtained the much-coveted payment aggregator (PA) license from the Reserve Bank of India (RBI). The approval, dated January 24, 2024, empowers Zomato Payments to facilitate ecommerce transactions through its platform.

The bulk deposit limit for scheduled commercial and small finance banks is Rs 2 crore and above. For RRBs, the limit has been increased from Rs 15 lakh to Rs 1 crore. The move is expected to provide a more level playing field for banks.

The world's first wooden satellite, named LignoSat, is set to be launched by NASA and the Japan Aerospace Exploration Agency (JAXA) in 2024.

'Swayam' is a government scheme aimed at creating self-employment for youth. Under this scheme, eligible rural and urban youths in the age group of 18-35 years will receive interest-free loans of up to Rs 1 lakh for starting a new business or expanding an existing one.

Urban co-operative banks must maintain a Capital to Risk Weighted Asset Ratio of at least 3% and should be devoid of major regulatory and supervisory concerns to be considered for inclusion.

Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year, from April 1 to March 31. This statement is called the annual financial statement.

The film 'Jawan' won the Best Film award at the Dadasaheb Phalke International Film Festival Awards 2024.