Tuesday, May 28, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: April 10, 2024

  1. What is the name of the recently introduced comprehensive insurance plan by HDFC ERGO General Insurance, tailored for pet dogs and cats, encompassing coverage for pet diagnostics?
    A) Paws n Claws
    B) Purrfect Protection
    C) PetCare Plus
    D) Furry Friends Coverage
    E) None of the above
    View Answer
    Option A
    Explanation:

    HDFC ERGO General Insurance has introduced Paws n Claws, an extensive insurance policy designed for pet dogs and cats. India’s pet care industry is experiencing a consistent annual growth rate of approximately 13% and is projected to reach $800 million by 2025.
  2. Which London-based company provided the data and analysis regarding the surge of mobile wallet adoption and its projected growth in India?
    A) GlobalTech
    B) Data Analytics Ltd.
    C) GlobalData
    D) London Analytics Group
    E) None of the above
    View Answer
    Option C
    Explanation:

    Mobile wallet adoption is surging in India and swiftly becoming a primary payment option, surpassing traditional methods like cash and cards.Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData – a London-based leading data and analytics company.
  3. Which survey has the Reserve Bank of India (RBI) launched for manufacturing companies, described as a crucial input for monetary policy formulation?
    A) Consumer Confidence Survey
    B) Industrial Output Survey
    C) Quarterly Order Books, Inventories, and Capacity Utilisation Survey
    D) Export Performance Survey
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Reserve Bank has launched the next round of quarterly order books, inventories and capacity utilisation survey of manufacturing companies, a key input for the monetary policy formulation. The 65th round of survey is for the reference period January-March 2024 (Q4:2023-24), the central bank said.
  4. According to India Ratings and Research (Ind-Ra), which state will be the first to achieve a $1 trillion economy?
    A) Karnataka
    B) Gujarat
    C) Maharashtra
    D) Tamil Nadu
    E) None of the above
    View Answer
    Option C
    Explanation:

    India’s eight states will have an over $1 trillion economy as the country moves towards becoming a developed nation by FY47, India Ratings and Research (Ind-Ra) noted in its report. Ind-Ra pointed out that Maharashtra will be the first to hit the $1 trillion mark, followed by Karnataka, Gujarat, and Tamil Nadu. In contrast, Uttar Pradesh will only reach the target by FY42. The states are likely to miss their goals to become a $1 trillion economy.
  5. What was the year-on-year growth rate in gross direct premium underwritten by non-life insurers in FY24?
    A) 16.4%
    B) 12.78%
    C) 14.24%
    D) 2.89%
    E) None of the above
    View Answer
    Option B
    Explanation:

    Non-life insurers posted a 12.78 per cent year-on-year (Y-o-Y) growth in gross direct premium underwritten in 2023-24 (FY24), reaching Rs 2.89 trillion, compared to 16.4 per cent in the previous financial year.
  6. The Singapore Tourism Board (STB) and which Indian fintech firm have joined hands for a two-year strategic partnership to promote the Unified Payments Interface (UPI) for Indian travelers in Singapore?
    A) Paytm
    B) Google Pay
    C) PhonePe
    D) Razorpay
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Singapore Tourism Board (STB) and Bengaluru-based fintech firm PhonePe have entered into a two-year strategic partnership to promote the Unified Payments Interface (UPI) for Indians travelling in Singapore.
  7. Who resigned from the position of MD and CEO of Paytm Payments Bank (PPBL) citing personal reasons and to explore better career prospects?
    A) Vijay Shekhar Sharma
    B) Kunal Shah
    C) Surinder Chawla
    D) Nandan Nilekani
    E) None of the above
    View Answer
    Option C
    Explanation:

    Surinder Chawla, MD and CEO of Paytm Payments Bank (PPBL) has resigned as the head of company, on account of “personal reasons and to explore better career prospects”.
  8. Who successfully completed a 352-day journey, becoming the first person to run the entire length of Africa?
    A) John Smith
    B) Russ Cook
    C) David Johnson
    D) Sarah Brown
    E) None of the above
    View Answer
    Option B
    Explanation:

    Extreme marathon runner Russ Cook completed his run across the entire length of Africa in Tunisia after travelling through 16 countries, with the 352-day odyssey including being robbed at gunpoint and suffering food poisoning.
  9. Which bank has introduced a digital US dollar fixed deposit (FD) scheme for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat, becoming the first bank to offer a digital journey for GIFT City Deposits?
    A) HDFC Bank
    B) ICICI Bank
    C) Axis Bank
    D) State Bank of India
    E) None of the above
    View Answer
    Option C
    Explanation:

    Axis Bank said it has floated a digital US dollar fixed deposit (FD) scheme for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat. The FD scheme is first of its kind, and Axis Bank has become the first bank to offer a digital journey for GIFT City Deposits.
  10. Which digital financial services provider in India recently launched a unique Downpayment EMI solution, allowing customers to make a partial payment upfront and convert the remaining amount into easy EMIs?
    A) Paytm
    B) PhonePe
    C) PayU
    D) Google Pay
    E) none of the above
    View Answer
    Option C
    Explanation:

    PayU, one of India’s leading digital financial services providers, is proud to announce the launch of a first-of-its-kind Downpayment EMI solution that enables customers to make a partial payment upfront while remaining can be converted into easy EMIs, making high-ticket purchases more affordable & accessible.
  11. What was the total amount of finished steel that India imported during the financial year 2023/24, based on provisional government data?
    A) 8.3 million metric tons
    B) 3.81 million metric tons
    C) 31.7 million metric tons
    D) 24.9 million metric tons
    E) None of the above
    View Answer
    Option A
    Explanation:

    India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data seen. The country imported 8.3 million metric tons of finished steel between April and March, up 38.1 per cent from a year earlier, the data showed.
  12. According to the Hurun Global Unicorn Index 2024, which country recorded a decline in unicorn creation for the first time since 2017?
    A) China
    B) India
    C) United States
    D) United Kingdom
    E) None of the above
    View Answer
    Option B
    Explanation:

    According to the Hurun Global Unicorn Index 2024, India for the first time recorded a decline in unicorn creation since 2017. India in 2023 had 67 unicorns, which is one less than 68 such startups last year, according to the latest Hurun Global Unicorn Index.
  13. Which banks recently conducted a Credit Default Swap (CDS) trade worth ₹25 crore, marking the first such transaction after the Reserve Bank of India (RBI) issued new guidelines for the instrument?
    A) HDFC Bank and ICICI Bank
    B) Axis Bank and Punjab National Bank
    C) State Bank of India and Standard Chartered Bank India
    D) Bank of Baroda and Canara Bank
    E) None of the above
    View Answer
    Option C
    Explanation:

    Marking the first such transaction after the Reserve Bank of India (RBI) issued fresh guidelines for the instrument, State Bank of India and Standard Chartered Bank India carried out a Credit Default Swap (CDS) trade worth ₹25 crore. The trade involved a 1-year rupee CDS featuring REC, senior executives at Standard Chartered Bank told.

  14. Which team was honored with the “2024 John L. ‘Jack’ Swigert Jr. Award for Space Exploration” for their contribution to the success of the Chandrayaan-3 mission?
    A) SpaceX
    B) European Space Agency (ESA)
    C) Russian Federal Space Agency (Roscosmos)
    D) Indian Space Research Organisation (ISRO)
    E) None of the above
    View Answer
    Option D
    Explanation:

    The team from the Indian Space Research Organisation (ISRO) responsible for the Chandrayaan-3 mission’s success was honoured with the “2024 John L. ‘Jack’ Swigert Jr. Award for Space Exploration”.
  15. Who recently won the World Literary Prize from the World Organization of Writers (WOW) for her significant contributions to literature?
    A) Arundhati Roy
    B) Mamta G. Sagar
    C) Jhumpa Lahiri
    D) Salman Rushdie
    E) None of the above
    View Answer
    Option B
    Explanation:

    Mamta G. Sagar, a Bengaluru-based Kannada poet, writer, academic and activist, has recently won the World Literary Prize from the World Organization of Writers (WOW) for her contributions to the world of literature.
  16. Who has been appointed as the Chairman and Managing Director (CMD) of SJVN Limited by the Public Enterprises Selection Board (PESB)?
    A) Sushil Sharma
    B) Rakesh Kumar
    C) Sanjay Gupta
    D) Anil Singh
    E) None of the above
    View Answer
    Option A
    Explanation:

    Sushil Sharma, currently serving as Director (Projects) at SJVN Limited (formerly Satluj Jal Vidyut Nigam), has been appointed for the position of Chairman and Managing Director (CMD) by the Public Enterprises Selection Board (PESB).
  17. The European Union (EU) and India launched an Expression of Interest (EoI) for startups working in which specific area related to Electric Vehicles (EVs)?
    A) Battery Manufacturing for EVs
    B) Charging Infrastructure for EVs
    C) Battery Recycling Technologies for EVs
    D) Software Development for EVs
    E) None of the above
    View Answer
    Option C
    Explanation:

    The European Union (EU) and India launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector.
  18. Which Southeast Asian city will host an upcoming investor forum on June 5-6, organized by the Indo-Pacific Economic Framework (IPEF) bloc, offering domestic climate tech entrepreneurs a platform to pitch their innovations to global investors?
    A) Mumbai
    B) Tokyo
    C) None of these
    D) Singapore
    E) Sydney
    View Answer
    Option D
    Explanation:

    The 14-member Indo-Pacific Economic Framework (IPEF) bloc will organise an investor forum meet in Singapore on June 5-6, where domestic climate tech entrepreneurs and companies will showcase and pitch their products to global investors.
  19. Which initiative is NTPC Limited, India’s largest integrated power company, preparing to launch, aimed at addressing gender inequality by nurturing girls’ imaginations and exploring opportunities?
    A) Beti Bachao, Beti Padhao
    B) Women Empowerment Program
    C) Girl Empowerment Mission (GEM)
    D) Gender Equality Initiative
    E) None of the above
    View Answer
    Option C
    Explanation:

    NTPC Limited, India’s largest integrated power company, is gearing up to launch the latest edition of Girl Empowerment Mission (GEM), its flagship Corporate Social Responsibility initiative. The program aligns with the Government of India’s Beti Bachao, Beti Padhao initiative and aims to tackle gender inequality by nurturing girls’ imaginations and fostering their ability to explore opportunities.

  20. What was the total capital expenditure recorded by the Ministry of Roads Transport and Highways in the fiscal year 2023-24?
    A) Rs 2.64 lakh crore
    B) Rs 3.01 lakh crore
    C) Rs 34,805 crore
    D) Rs 3.35 lakh crore
    E) Rs 2.01 lakh crore
    View Answer
    Option B
    Explanation:

    The ministry of roads transport and highways recorded the highest ever capital expenditure of Rs 3.01 lakh crore in 2023-24 with both government and private expenditure at an all-time high at Rs 2.64 lakh crore and Rs 34,805 crore respectively, a senior government official said.
  21. Where is the Pamban railway bridge, India’s first vertical-lift bridge, being constructed, and what challenge does the project face?
    A) The bridge is being constructed between Mumbai and Goa, facing environmental hurdles.
    B) It connects India’s mainland with Rameswaram island, facing the challenge of a sharp curve along its path.
    C) The bridge is being built across the Ganges River in Kolkata, facing structural stability concerns.
    D) It links Chennai with Puducherry, encountering issues related to land acquisition.
    E) None of the above
    View Answer
    Option B
    Explanation:

    A sharp curve in the upcoming Pamban railway bridge, India’s first vertical-lift bridge connecting the country’s mainland with Rameswaram island, has become an additional challenge for the Railways besides its mechanical peculiarity and a rough sea.
    The Rail Vikas Nigam Limited (RVNL), which is constructing this 2.08-km-long bridge, is facing a huge challenge in moving a lift span, which is 72.5-m-long, 16-m-wide and weighs 550 tonne, from the Rameshwaram end to 450 m in the sea to fix it to the bridge.

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