[Mission 2024] Current Affairs Quiz , 25 October 2023

Solution: d)

The Cauvery Water Management Authority (CWMA) is a regulatory body established by the Indian government to oversee the equitable distribution and management of the Cauvery River’s waters among the riparian states of Karnataka, Tamil Nadu, Kerala, and Puducherry.

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Solution: c)

Option 4 is incorrect.

What is Abraham Accord? 

Brokered by the USA, the Abraham Accord (2020) is a normalization agreement between the UAE and Israel to establish formal diplomatic relations. The accord was later joined by Bahrain, Sudan, and Morocco and in exchange Israel would suspend its plans to annex parts of the occupied West Bank. With this accord, UAE becomes the third Arab nation to recognize Israel after Egypt (in 1979) and Jordan (1994)

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Solution: b)

Statement 2 is incorrect.

Western Australian scientists have connected pink diamond formation to the Earth’s first supercontinent (Vaalbara or Nuna) and events 1.3 billion years ago.

Pink diamonds are a rare and highly coveted type of diamond known for their stunning pink or reddish-pink colour. Pink diamonds are exceptionally rare, and their rarity, combined with their captivating beauty, makes them extremely valuable.

Pink diamonds get their distinct colour from unique structural irregularities in the crystal lattice of the diamond, rather than impurities like nitrogen or boron, which give other coloured diamonds their hues (such as in the case of Yellow and blue diamonds)

Where is it found?

The Argyle diamond mine in Western Australia was one of the primary sources of pink diamonds (over 90% of production), although it ceased production in 2020. Pink diamonds from the Argyle mine were particularly famous for their quality and colour intensity.

What does the study indicate?

Pink diamonds were formed as a result of the breakup of Earth’s first supercontinent, Vaalbara, through intense geological forces from colliding tectonic plates that caused their crystal lattices to twist and bend. The critical event that turned once-colourless diamonds into pink was a monumental collision between Western Australia and Northern Australia.

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Solution: b)

Statement 3 is incorrect.

• The Insurance Regulatory and Development Authority of India (IRDAI) is creating the ‘Bima Sugam’online platform, which is described as a ‘game-changer’ and a ‘UPI moment’ for the insurance sector.
• It will serve as a one-stop destination for insurance-related needs, including policies, portability, agent changes, and claims.
• The platform aims to centralize data, facilitate policy porting, offer a wide range of policy choices, reduce intermediary commissions, and enable the acceptance of new products.
• The launch date for Bima Sugam is set for June 2024, following delays from the original deadlines.
• Ownership: Life insurance and general insurance companies will own a 47.5 per cent stake each, while brokers and agent bodies will own 2.5 per cent each.

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Solution: b)

Statement 2 is incorrect.

The Insurance Regulatory and Development Authority of India (founded 1999; HQ: Hyderabad) is a statutory body (under the IRDA Act 1999) and is under the jurisdiction of the Ministry of Finance and is tasked with regulating and licensing the insurance and re-insurance industries in India.