ORION COMPETITIVE EXAMS SOLUTION

Current Affairs
16th May, 2024
Details Point
➢ India VIX, which is an indicator of the market’s expectation of volatility over the near term,
surged past the 21 mark on Tuesday (May 14). The rise shows that fear among traders or
market participants on the expected volatility is more now, as compared to 15 days earlier.
Currently, the fear among the market players is coming from the outcome of the ongoing Lok
Sabha elections. Volatility is often described as the ‘rate and magnitude of changes in prices’
and in finance often referred to as risk. Usually, during periods of market volatility, the market
moves steeply up or down and the volatility index tends to rise. As volatility subsides, the
Volatility Index declines. The Volatility Index is a measure of the amount by which an
underlying index is expected to fluctuate in the near term, (calculated as annualised volatility,
denoted in percentage e.g. 20 per cent) based on the order book of the underlying index
options. The Chicago Board of Options Exchange (CBOE) was the first to introduce the volatility
index for the US markets in 1993 based on S&P 100 Index option prices. In 2003, the
methodology was revised and the new volatility index was based on S&P 500 Index options.
VIX’ is a trademark of the CBOE, and Standard & Poor’s has granted a license to NSE, with
permission from the CBOE, to use such a mark in the name of the India VIX and for purposes
relating to the India VIX.
➢ The new coronavirus variant called KP.2 — nicknamed FLiRT — that has been linked to rising
cases of Covid-19 in the United States, United Kingdom, and South Korea, has been in
circulation in India since November 2023, genomic surveillance data show. About 250 KP.2
sequences have been reported so far by INSACOG, the country’s genome sequencing
consortium.
➢ The Supreme Court ruled on Tuesday that advocates cannot be held liable under the
Consumer Protection Act of 1986 for deficiency in service. The court ruled that a complaint to
this effect against an advocate was not maintainable before a consumer forum. The Supreme
Court overturned a 2007 ruling by the National Consumer Disputes Redressal Commission
(NCDRC) which said services provided by lawyers fell under the Consumer Protection Act. The
Act was enacted on August 9, 2019, and came into force in July 2020, replacing the previous
Consumer Protection Act, 1986. It was introduced in response to the evolving needs of
consumers in the digital age, and aims to provide timely and effective administration and
settlement of consumer disputes. Defining “E-commerce” and expanding the scope of
“Consumer”: As compared to CPA 1986, the definition of “Consumer” has been broadened
under CPA 2019 .E-commerce has been specifically mentioned and is defined as buying and
selling of goods/services/digital products online.
➢ The Union Home Ministry on Tuesday extended the ban on the LTTE by five more years for
fostering a separatist tendency among the masses and enhancing the support base for it in the
country, particularly in Tamil Nadu, besides threatening the territorial integrity of India. The
Centre has imposed the ban invoking the sub-sections (1) and (3) of section 3 of the Unlawful
Activities (Prevention) Act, 1967.
➢ The Smart Cities Mission (SCM), a flagship programme of the NDA-1 government, has taken a
back seat in this year’s list of poll promises and achievements. SCM was announced in June
2015. The SCM had two main aspects: area-based development consisting of three
components — redevelopment (city renewal), retrofitting (city improvement), and green field
projects (city extension); and pan-city solutions based on ICT. These further comprised some

Page 1|8
ORION COMPETITIVE EXAMS SOLUTION

six categories that would include e-governance, waste management, water management,
energy management, urban mobility, and skill development. Around ₹2 lakh crore was kept
aside for the mission, with public-private partnerships (PPP) an important driver of the same.
The mission that was to be completed in 2020, was given two extensions till June 2024.
Additionally, to make the mission effective, a business model of governance was adopted
bypassing the existing models of city governance in the country. An SPV (special purpose
vehicle) led by a bureaucrat or a representative of an MNC, and other major stakeholders was
created and registered under the Companies Act. The elected council, thus, had little role in
the governance structure.
➢ India’s renewed focus on developing the Andaman and Nicobar Islands (ANI) underscores their
strategic significance in the Indo-Pacific region. The transformation of India’s Look East policy
into a robust Act East policy, a realisation of the critical importance of ocean power, and the
rapid enhancement in the capabilities of the Chinese People Liberation Army (PLA) Navy, have
brought a degree of seriousness to the imperative of developing Indian island territories in
general, and the Andaman and Nicobar group in particular. It is located 700 nautical miles
southeast of the Indian mainland, the Andaman and Nicobar Islands add 300,000 sq. km to
India’s exclusive economic zone, with the potential for undersea hydrocarbon and mineral
deposits.
➢ Inauguration of the Bharat Pavilion, formerly known as the India Pavilion, marked a significant
moment at the 77th Cannes Film Festival.
➢ Defence Secretary Giridhar Aramane unveiled a commemorative Rs 250 coin during the
celebration of the 250th anniversary of Mazagon Dock Limited (MDL) in New Delhi on May 14,
2024. The event, hosted by MDL, commemorated its evolution from a dry dock in 1774 to a
premier naval shipyard under the Ministry of Defence.
➢ The grand commencement of India Skills 2024 took place at Yashobhoomi, Dwarka, New Delhi
on 15 May 2024. Over the span of four days, this esteemed competition will assess the
proficiency of students across 61 diverse categories, providing a platform for showcasing talent
at both national and international levels.
➢ The Indian Air Force recently conducted a test in Agra for the BHISHM portable hospital, a
crucial component of “Project BHISHM” aimed at providing rapid and comprehensive medical
assistance during emergencies. These portable cubes, part of a broader initiative, can cater to
up to 200 casualties, emphasizing swift response and extensive care.
➢ The 22nd Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office
(NSSO) revealed that the unemployment rate among individuals aged 15 years and above in
urban areas of India decreased to 6.7% in the January-March 2024 period. The survey offers
insights into various labor force indicators, including unemployment rate, worker population
ratio (WPR), and labor force participation rate (LFPR) based on the Current Weekly Status
(CWS) approach.
➢ In a move aimed at granting additional time to Life Insurance Corporation (LIC) of India to meet
regulatory requirements, the Securities and Exchange Board of India (Sebi) has extended LIC’s
deadline to achieve a minimum 10% public shareholding. LIC, a state-owned insurance giant,
now has until May 16, 2027, to fulfill this obligation.
➢ In a significant move, PhonePe has joined forces with LankaPay to introduce UPI payments in
Sri Lanka. This collaboration allows PhonePe users to seamlessly utilize UPI for transactions
across LankaPay QR merchants, providing them with familiarity and security while traveling.
The partnership aims to enhance the payment experience for Indian tourists and business
travelers in Sri Lanka, while also offering a cost-effective solution for merchants. The initiative

Page 2|8
ORION COMPETITIVE EXAMS SOLUTION

received commendation from key figures including PhonePe’s CEO, Ritesh Pai, LankaPay CEO
Channa de Silva, and Sri Lankan Central Bank Governor Nandalal Weerasinghe.
➢ In a momentous occasion, the eminent author Ruskin Bond has been bestowed with the
Sahitya Akademi Fellowship, the highest honour conferred by India’s premier literary
organization, the Sahitya Akademi. Due to Bond’s ill health, the prestigious award was
presented to him at his Mussoorie home by Sahitya Akademi President Madhav Kaushik and
Secretary K. Sreenivasarao, in the presence of his son.
➢ NASA has given a new role to David Salvagnini as the agency’s Chief Artificial Intelligence (AI)
Officer. This is an addition to his current job as Chief Data Officer. The appointment shows
NASA’s commitment to using AI technology responsibly.
➢ Sunil Chhetri, India’s most decorated footballer, has announced his retirement from
international football. The FIFA World Cup Qualifier game against Kuwait in Kolkata on June 6
will be his last appearance for the national team.
➢ The International Day of Living Together in Peace is an annual observance held on 16 May
every year. Established by the United Nations General Assembly, this day aims to support
global efforts in promoting peace, unity, and solidarity among nations and individuals.
➢ The International Day of Light is an annual celebration established by UNESCO to recognize the
significance of light and light-based technologies in revolutionizing our society and various
aspects of our daily lives.
➢ The Indian political landscape mourns the loss of a pioneering figure, Kamla Beniwal, who
breathed her last on Wednesday, May 15, 2024, at the age of 97. Beniwal, a veteran Congress
leader and former governor of Gujarat, Tripura, and Mizoram, left an indelible mark on the
nation’s political arena with her unwavering commitment and decades-long service.
➢ The ongoing conflict in Gaza has claimed the life of Colonel (Retd.) Waibhav Anil Kale, a former
Indian Army officer who was serving as a staff member of the United Nations Department of
Safety and Security (DSS) in the region. The tragic incident occurred on May 13, 2024, when
Kale’s vehicle came under attack in Rafah, Gaza, marking the first international casualty since
the latest escalation of hostilities between Israel and Hamas....
➢ On May 13 and 14, 2024, the 4th National Workshop on Technology Innovation in Cyber-
Physical Systems, or TIPS 4.0, took place. The event was organized by the Department of
Science and Technology (DST) as part of the National Mission on Interdisciplinary Cyber-
Physical Systems (NM-ICPS). The National Mission on Interdisciplinary Cyber-Physical Systems
(NM-ICPS) project aims to foster collaboration among stakeholders from business,
government, science, and international partners. Its primary objective is to cultivate a
conducive environment for entrepreneurship and facilitate the marketability of CPS (Cyber-
Physical Systems) products.
➢ The Income Tax Department has introduced a valuable addition to the Annual Information
Statement (AIS), enabling taxpayers to verify the confirmation status of their financial data.
This enhancement aims to foster transparency and accuracy in the tax filing process. The
Annual Information Statement (AIS) serves as a comprehensive compilation of a taxpayer’s
financial transactions throughout the tax year. It consolidates data from various sources,
including banks and mutual funds, providing insights into an individual’s business activities.
Serving as an upgraded version of Form 26AS, AIS offers expanded information, encompassing
details such as interest, dividends, securities trades, and mutual fund purchases. This
enhanced version streamlines voluntary compliance and facilitates transparent tax
assessment.
➢ New studies indicate a worsening trend in India’s heatwaves, signaling alarming
consequences. Particularly in April 2023, regions in the east and south experienced extreme
Page 3|8
ORION COMPETITIVE EXAMS SOLUTION

weather events, with climate change significantly amplifying their likelihood. The
intensification of heatwaves in India is strongly correlated with climate change. Traditional
methods of assessing heatwaves, solely based on high temperatures, prove inadequate.
➢ China’s recent road construction activities in the Himalayas, highlighted by researcher Nature
Desai on X social media platform, have brought the construction to within 30 miles of the
strategically significant Siachen Glacier. The proximity of the constructed road to the Siachen
Glacier has sparked concerns among Indian journalists and defense experts, who perceive
potential threats from China and Pakistan. India’s Ministry of External Affairs (MEA) has
formally protested, reiterating its disagreement with the 1963 border agreement that ceded
the Shaksgam Valley to China. This protest underscores the ongoing tension and sensitivity
surrounding territorial disputes in the region. Situated in the eastern Karakoram range of the
Himalayas, the Siachen Glacier holds the distinction of being the highest battlefield globally.
Since 1984, both India and Pakistan have maintained military presence in the region. Spanning
76 kilometers, it is the second-largest non-polar glacier in the world. Despite its extreme
conditions, including temperatures plummeting to -61°C and altitudes exceeding 6,000
meters, the glacier supports diverse wildlife, including rare species such as the snow leopard
and the brown bear.

Practice Mcqs
1. Manika Batra, recently seen in the news, 5. Indian Cyber Crime Coordination Centre
is associated with which sports? (I4C), recently seen in news, is operated
[A] Table Tennis under which ministry?
[B] Badminton [A] Ministry of Defence
[C] Football [B] Ministry of Power
[D] Chess [C] Ministry of Home Affairs
2. IndiaSkills Competition 2024, the [D] Ministry of Urban Development
country’s biggest skilling program, 6. Consider the following statements about
recently started at which place? the Consumer Protection Act 2019:
[A] Hyderabad 1. The Act applies to all goods and
[B] Kolkata services, covering all sectors whether
[C] New Delhi they are private, public, or cooperative.
[D] Chennai 2. The act provides for an Alternate
3. Recently, where was the second round of Dispute Resolution Mechanism through
the India-US dialogue on Africa held? mediation.
[A] California 3. It has no provision covering misleading
[B] Washington DC advertisements.
[C] New Delhi How many of the statements given above
[D] Varanasi are correct?
4. Recently, the government of India has a. Only one
announced humanitarian assistance b. Only two
worth $ 1 million to which country? c. All three
[A] Rwanda d. None
[B] Somalia 7. The word FLiRT recently seen in news is :
[C] Kenya a. A new coronavirus variant.
[D] Uganda b. A cyber attack through Social media
platforms

Page 4|8
ORION COMPETITIVE EXAMS SOLUTION

c. An early warning system for fire 11. The Indian Army is procuring another set
hazards of Russian Igla-S very short-range air
d. A type of Suicide drone defence systems (VSHORAD) system.
8. Consider the following statements about Which one of the following types of
India Volatility Index (VIX) missile system is the Igla-S classified as?
1. India VIX is a volatility index computed a. Surface-to-surface missile
by the SEBI based on the order book of b. Surface-to-air missile
NIFTY Options. c. Air-to-air missile
2. It is a measure of the market’s d. Man-portable air-defense missile
expectation of volatility over the long. system (MANPADS)
3. India VIX typically subsides ahead of 12. Consider the following statements
events like elections that could have a regarding the internet shutdowns in
major impact on the market’s trajectory. India:
How many of the statements given above 1. Information Technology Act, 2000 is
are correct? the primary legal framework governing
a. Only one internet shutdowns in India.
b. Only two 2. In Navtej Singh Johar v. Union of India,
c. All three the Supreme Court provided guidelines
d. None to regulate internet shutdowns in India.
9. Consider the following pairs: 3. India has witnessed the highest
Article------------------------Provisions number of internet shutdowns in the
1. Article 22(1) -------------Right to be world in 2023.
informed of grounds of arrest. How many of the statements given above
2. Article 22(2) -------------Right to consult are correct?
and be defended by a legal practitioner. a. Only one
3. Article 22(3) ------------ Right to be b. Only two
produced before a magistrate within 24 c. All three
hours. d. None
4. Article 22(4) --------------Exceptions for 13. Genome-Wide Association Studies
enemy aliens and those detained under (GWAS) involve analyzing vast amounts
preventive detention laws. of genetic data. Which one of the
How many of the above pairs are following is the primary objective of a
correctly matched? GWAS?
a. Only one a. Sequence the entire genome of an
b. Only two individual.
c. Only three b. Identify genetic variants associated
d. All four with a specific trait or disease.
10. Which of the following countries border c. Analyze how genes interact with
Slovakia? environmental factors to influence
a. Germany, Austria, Poland, Ukraine, health.
Hungary d. Modify genes to treat or cure genetic
b. Czech Republic, Austria, Hungary, diseases.
Ukraine, Poland 14. Which one of the following metals is NOT
c. Poland, Ukraine, Romania, Hungary, commonly extracted through biomining?
Austria a. Copper
d. sCzech Republic, Germany, Poland, b. Gold
Ukraine, Hungary c. Uranium
d. Aluminium
Page 5|8
ORION COMPETITIVE EXAMS SOLUTION

15. Consider the following products: 17. With reference to Soil Nailing, consider
1. Paper the following statements:
2. Cardboard 1. It is a geotechnical engineering
3. Organic food waste technique that involves the insertion of
4. Non-recyclable plastics reinforcing elements into the soil in a
Which of the above materials are specified area to strengthen it.
included in Refuse-Derived Fuel (RDF) 2. It involves drilling steel tendons into
production? the soil and grouting them in place to
a. 1, 2 and 3 only form a composite structure akin to a
b. 2, 3 and 4 only gravity wall.
c. 1, 2 and 4 only Which of the statement(s) given above
d. 1, 2, 3, and 4 is/are correct?
16. In the context of international trade, a. 1 only
what could be a long-term economic b. 2 only
impact of the continuous widening of the c. Both 1 and 2
trade deficit? d. Neither 1 nor 2
a. Improved international credit rating 18. The Strait of Gibraltar connects:
b. Increased dependency on foreign a. The Red Sea to the Mediterranean Sea
capital b. The Atlantic Ocean to the
c. Enhanced domestic industrial base Mediterranean Sea
d. Greater accumulation of foreign c. The Indian Ocean to the Pacific Ocean
exchange reserves d. The Black Sea to the Aegean Sea

Answers and Explanation

1. A Table Tennis - Manika Batra, India’s top women’s table tennis player, achieved a historic
milestone by entering the world’s top 25 in Women’s singles rankings, reaching a career-high
of 24. She matched G. Sathyan’s record for the highest rank achieved by an Indian in singles
table tennis. Following her performance in the Saudi Smash tournament, she climbed 15 spots,
reaching the quarterfinals. Batra, a gold medallist at the 2018 Commonwealth Games,
continues to shine on the global stage.
2. C New Delhi - India Skills 2024, the nation’s largest skill competition, kicked off in New Delhi
on May 15, 2024, at Yashobhoomi, Dwarka. Organized by NSDC under MSDE, it spans 61
categories, testing skills nationwide until May 18. This biennial event enjoys broad support
from state governments, industry, SSCs, SSDMs, corporates, and partner institutes. It provides
a crucial platform for youth to exhibit their talents nationally and internationally.
3. B Washington DC - The second round of the India-US Dialogue on Africa convened in
Washington DC on May 14-15, 2024. Shri Puneet R. Kundal and Shri Sevala N. Mude led the
Indian delegation, while Ms. Mary Catherine Phee headed the US team. The dialogue fosters
collaboration on developmental projects in Africa, aligning with African priorities. This marks
the first dialogue since the African Union’s inclusion in the G20 during India’s presidency.
4. C Kenya - India pledges $1 million in humanitarian aid to Kenya to alleviate the aftermath of
deadly floods, claiming 267 lives and displacing over 380,000 people. The assistance includes
22 tons of supplies like tents, blankets, and hygiene kits, dispatched via an Indian Air Force
plane. Additionally, 18 tons of medical aid, including life-saving drugs and surgical equipment,
aim to address urgent healthcare needs of flood-affected Kenyans.
5. C Ministry of Home Affairs - The Indian Cyber Crime Coordination Centre (I4C), with support
from Microsoft, blocked over 1,000 Skype IDs involved in cybercrimes like blackmail and

Page 6|8
ORION COMPETITIVE EXAMS SOLUTION

extortion. I4C operates under the Ministry of Home Affairs to address cybercrime nationwide,
enhancing coordination among law enforcement agencies. Located in New Delhi, it aims to
combat cyber threats and protect citizens, emphasizing collaboration between stakeholders
and LEAs for a comprehensive approach to cybersecurity.
6. C
7. A
8. A
9. A Explanation – Only 1 is correctly matched.
Article 22(2) – Every person who is arrested and detained in custody shall be produced before
the nearest magistrate within a period of twenty-four hours.
Article 22(3) - Exceptions for enemy aliens and preventive detention from Clauses 1 and 2.
Article 22(4) - Conditions for extending preventive detention.
10. B – Slovakia shares borders with the Czech Republic to the northwest, Austria to the
southwest, Hungary to the south, Ukraine to the east, and Poland to the north. It is a
landlocked country in Central Europe. Slovakia shares its longest border with Hungary
11. D - The Igla-S is a Russian-made man-portable air-defense missile system (MANPADS). It is
designed to engage and destroy low-flying aircraft, helicopters, and unmanned aerial vehicles
(UAVs).
12. A - Statements 1 and 2 are incorrect. The primary legal framework governing internet
shutdowns in India is the Temporary Suspension of Telecom Services (Public Emergency or
Public Safety) Rules, 2017, under the Indian Telegraph Act, 1885. In Anuradha Bhasin v. Union
of India (2020), the Supreme Court provided guidelines to regulate internet shutdowns in
India. Statement 3 is correct. According to the Keep It On coalition, India witnessed the highest
number of internet shutdowns globally in 2023, with 116 instances. This marks the sixth
consecutive year that India has held this record.
13. B - The primary objective of a Genome-Wide Association Study (GWAS) is to identify genetic
variants, such as single nucleotide polymorphisms (SNPs), that are associated with a specific
trait, condition, or disease. It involves rapidly scanning markers across the complete sets of
DNA, or genomes, of many people to find genetic variations associated with a particular
disease.
14. D – Aluminium is not commonly extracted through biomining. Biomining is a technique that
uses microorganisms to extract metals from ores and other materials. This process is also
known as bioleaching or bio-oxidation. Commonly extracted metals through biomining include
copper, gold, and uranium, among others.
15. C – Refuse derived fuel (RDF) is made from household and commercial garbage, which includes
both biodegradable materials and plastics. It is typically composed of biodegradable waste,
non-recyclable plastics, paper, and other combustibles. RDF is produced from combustible
components and which are mainly non-recyclable. Materials that are suitable for recycling,
such as metals, glass, high-grade plastics, organic food waste and Hazardous Waste are
typically excluded from RDF production. Material included in RDF production are: Paper and
Cardboard, Non-Recyclable Plastics, Textiles, Rubber and Tires. Moreover, organic food waste
is generally excluded from RDF production as it is biodegradable and can be processed through
composting or anaerobic digestion to produce organic fertilizers or biogas.
16. B – A continuous trade deficit means that a country is importing more than it is exporting,
leading to a negative balance of trade. To finance this deficit, the country often relies on
foreign capital, either through borrowing or attracting foreign investment. This increased
reliance on foreign capital can make the country more vulnerable to changes in global financial
markets, interest rates, and the economic conditions of its lending partners
Page 7|8
ORION COMPETITIVE EXAMS SOLUTION

17. C – Statements 1 and 2 are correct. Soil nailing is a geotechnical engineering technique that
involves the insertion of reinforcing elements into the soil to strengthen it. It is commonly used
for slope stabilization, retaining walls, and excavation support. The process of soil nailing
involves drilling steel tendons (also known as nails) into the soil and grouting them in place to
create a composite structure. This structure functions similarly to a gravity wall, as the nails,
and the grout act together with the soil to form a stable and reinforced mass.
18. B – The Strait of Gibraltar is a narrow strait that separates the European continent (Iberian
Peninsula) from North Africa (Maghreb region) and connects the Atlantic Ocean to the
Mediterranean Sea. It is approximately 14 kilometers wide at its narrowest point and has great
strategic and economic importance, as it serves as a vital shipping route between the two
bodies of water.

Page 8|8