Union Government Establishes 6 Sector-Specific Working Groups to Boost Domestic Manufacturing

1. Who has been appointed as the new Executive Director of the World Bank for a tenure of three years, succeeding Parameswaran Iyer?

Explanation: Neelkanth Mishra, Chief Economist at Axis Bank, has been appointed as the Executive Director of the World Bank for a tenure of 3 years, succeeding Parameswaran Iyer.

2. Which wetland was recently designated as India's 100th Ramsar Site, becoming the 13th such site in Uttar Pradesh?

Explanation: The Jai Prakash Narayan Bird Sanctuary, widely known as Surha Tal, situated in the Ballia district of Uttar Pradesh, has been declared as India's 100th Ramsar Site.

3. In the 61st MPC meeting, the Reserve Bank of India maintained the Repo Rate at 5.25%. What is the corresponding Standing Deposit Facility (SDF) rate?

Explanation: Following the decision to keep the Repo Rate unchanged at 5.25%, the Standing Deposit Facility (SDF) remains at 5.00%, which is typically 25 basis points below the repo rate.

4. With reference to the recently constituted 6 sector-specific working groups by the Indian Government, consider the following statements: 1. They aim to identify around 100 products to boost domestic manufacturing. 2. These groups will be chaired by the Secretary of DPIIT. Which of the statements given above is/are correct?

Explanation: Both statements are correct. The six sector-specific working groups have been set up under the chairmanship of the DPIIT secretary to identify around 100 key products to enhance domestic production and achieve self-reliance.

5. Who became the first-ever Indian chess grandmaster to win the prestigious Norway Chess title in Oslo?

Explanation: Grandmaster R Praggnanandhaa scripted history in Oslo by becoming the first Indian player to win the Norway Chess title after defeating Germany's Vincent Keymer.