Friday, December 20, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: April 28 & 29, 2024

  1. Where is the “Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities” scheduled to take place in April 2024?
    A) Mumbai, Maharashtra
    B) Chennai, Tamil Nadu
    C) Hyderabad, Telangana
    D) New Delhi, India
    E) None of the above
    View Answer
    Option D
    Explanation:

    The Ministry of Mines, along with partners like the Shakti Sustainable Energy Foundation, Council on Energy, Environment and Water, and the Indian Institute of Sustainable Development, is gearing up to host the “Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities” from April 29 to April 30, 2024. The summit rtake place at the India Habitat Centre in Lodhi Estate, New Delhi.
  2. Which government initiative has disbursed Rs 147.82 crore in interest subsidy to street vendors as of March 31, since its inception in 2020?
    A) PM CARES Fund
    B) PM Kisan Samman Nidhi Yojana
    C) PM SVANidhi scheme
    D) PM Garib Kalyan Yojana
    E) None of the above
    View Answer
    Option C
    Explanation:

    The central government has paid Rs 147.82 crore in interest subsidy to street vendors under PM SVANidhi scheme since it began in 2020 and till March 31, the Ministry of Housing and Urban Affairs said.
  3. Which organization has inaugurated its office in Mumbai to bolster bilateral trade between Russia and India, particularly to assist numerous Russian entrepreneurs seeking partnerships in India?
    A) Mumbai Chamber of Commerce and Industry
    B) Indian Chamber of Commerce and Industry
    C) Russian Chamber of Commerce and Industry
    D) Indo-Russian Chamber of Commerce
    E) None of the above
    View Answer
    Option C
    Explanation:

    Russian Chamber of Commerce and Industry has opened its office in Mumbai to give a boost to the bilateral trade between Russia and India amid big number of Russian entrepreneurs seeking partners in the country.
  4. In the context of expanding ties in the Middle East, which country is set to sign a trade deal with India in the upcoming months, as confirmed by two Indian government officials?
    A) Saudi Arabia
    B) United Arab Emirates
    C) Oman
    D) Qatar
    E) None of the above
    View Answer
    Option C
    Explanation:

    India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk.
  5. What is the primary objective of the draft circular issued by the Reserve Bank of India regarding the aggregation of loan products by lending service providers (LSPs)?
    A) To promote opacity in the credit intermediation process
    B) To discourage transparency for borrowers
    C) To propose a framework for increasing interest rates on loans
    D) To ensure complete transparency for borrowers
    E) None of the above
    View Answer
    Option D
    Explanation:

    The Reserve Bank of India has issued a draft circular proposing the framework for aggregation of loan products by lending service providers (LSPs) in order to ensure complete transparency for borrowers in the credit intermediation process.
  6. The Reserve Bank of India (RBI) has issued criteria for small lenders to meet in order to become universal banks. What is the primary purpose of these criteria?
    A) To limit the services provided by small lenders
    B) To encourage small lenders to merge with larger banks
    C) To facilitate the provision of comprehensive services to retail and corporate clients
    D) None of these
    E) To restrict the expansion of banking services to certain regions
    View Answer
    Option C
    Explanation:

    The Reserve Bank of India (RBI) released a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients.
  7. What is the main objective of the draft guidelines introduced by the Reserve Bank of India regarding digital lending?
    A) To complicate the loan application process
    B) To ensure anonymity of lenders
    C) To bring transparency to loan aggregation
    D) To limit access to loan products
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Reserve Bank of India (RBI) has come out with draft guidelines for ‘Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders.’
  8. The Reserve Bank of India (RBI) has directed which company to refund the prepaid funds held in the wallets of its customers due to issuing Prepaid Payment Instruments (Wallets) without proper authorization from the central bank?
    A) TalkCharge
    B) PhonePe
    C) MobiKwik
    D) Paytm
    E) None of the above
    View Answer
    Option A
    Explanation:

    The Reserve Bank of India (RBI) on directed Gurugram-based company TalkCharge to refund the prepaid funds held in the wallets of its customers. This directive comes as TalkCharge has been issuing Prepaid Payment Instruments (Wallets) without proper authorisation from the central bank.
  9. Which small finance bank is currently the only one among 11 small finance banks to meet the eligibility criteria set by the Reserve Bank of India (RBI) to apply for a universal banking license?
    A) AU Small Finance Bank
    B) Ujjivan Small Finance Bank
    C) Equitas Small Finance Bank
    D) ESAF Small Finance Bank
    E) None of the above
    View Answer
    Option A
    Explanation:

    Due to the stringent asset quality norms set by the Reserve Bank of India (RBI), only one, AU Small Finance Bank, out of 11 small finance banks meets the eligibility criteria to apply for a universal banking licence. The remaining banks will likely need to wait for at least a few more quarters.
  10. Which bank overtook Kotak Mahindra Bank to become India’s third most valued private lender?
    A) HDFC Bank
    B) ICICI Bank
    C) Axis Bank
    D) State Bank of India (SBI)
    E) None of the above
    View Answer
    Option C
    Explanation:

    Axis Bank overtook Kotak Mahindra Bank to become India’s third most valued private lender after a rout in the latter’s stock.
  11. HDFC Life, a prominent insurer in India, has formed a corporate agency tie-up with which organization to distribute its life insurance products to customers?
    A) Peerless Financial Products Distribution Ltd. (PFPDL)
    B) ICICI Prudential Life Insurance
    C) SBI Life Insurance
    D) Max Life Insurance
    E) None of the above
    View Answer
    Option A
    Explanation:

    HDFC Life, one of India’s leading insurers, and Peerless Financial Products Distribution Ltd. (PFPDL) have entered into a corporate agency tie-up. This partnership would enable PFPDL to distribute life insurance products of HDFC Life to its customers.
  12. What factor has led to the surge in issuances of commercial papers (CP) to touch a four-year high of Rs 1.2 lakh crore, according to a Crisil report?
    A) Mandate from the Securities and Exchange Board of India (SEBI)
    B) RBI’s directive to increase risk weights on bank loans to higher-rated NBFCs
    C) Government’s stimulus package for corporate funding
    D) Decrease in interest rates by the Reserve Bank of India (RBI)
    E) None of the above
    View Answer
    Option B
    Explanation:

    Issuances of commercial papers (CP) have hit a four-year high, touching Rs 1.2 lakh crore, a level seen last in July-Sept 2019, as companies seek to diversify funding sources. Higher CP issuances follow RBI’s November mandate to increase risk weights on bank loans given to higher rated NBFCs, said a Crisil report.
  13. What is the estimated GDP growth rate for the current fiscal year, as projected by the National Institute of Public Finance and Policy (NIPFP) using high-frequency models?
    A) 6.5%
    B) 7.1%
    C) 7.5%
    D) 8.0%
    E) None of the above
    View Answer
    Option B
    Explanation:

    Economic think-tank National Institute of Public Finance and Policy (NIPFP) said it has estimated India’s GDP growth at 7.1 per cent for the current fiscal, using high-frequency models.

  14. Who has been appointed as the ICC Men’s T20 World Cup 2024 Ambassador by the International Cricket Council (ICC)?
    A) Sachin Tendulkar
    B) Virat Kohli
    C) Yuvraj Singh
    D) MS Dhoni
    E) None of the above
    View Answer
    Option C
    Explanation:

    The International Cricket Council (ICC) has announced India legend Yuvraj Singh as an ICC Men’s T20 World Cup 2024 Ambassador, with just 36 days to go until the pinnacle global event for T20 cricket gets underway.
  15. Following the retirement of Chairman and Non-Executive Director A. Vellayan, who has been appointed as the Executive Chairman of Coromandel International Ltd. (CIL)?
    A) Arun Alagappan
    B) K. V. Krishnamurthy
    C) S. P. Vasudevan
    D) N. R. Narayana Murthy
    E) Mukesh Ambani
    View Answer
    Option A
    Explanation:

    Coromandel International Ltd. (CIL) has appointed and re-designated Executive Vice Chairman Arun Alagappan as Executive Chairman following the retirement of Chairman and Non-Executive Director A. Vellayan.
  16. What is the estimated GDP growth rate for the current fiscal year, as projected by Deloitte India in its economic outlook report?
    A) 5.5%
    B) 6.6%
    C) None of these
    D) 7.0%
    E) 8.0%
    View Answer
    Option B
    Explanation:

    Deloitte India said it estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India’s economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.
  17. Which port has recently received approval from the shipping ministry to operate as India’s first transshipment port?
    A) Jawaharlal Nehru Port
    B) Chennai Port
    C) Vizhinjam Port (Adani Group)
    D) Kolkata Port
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Adani Group’s Vizhinjam Port has received the shipping ministry’s approval for operating as India’s first transshipment port. The recommendation for declaring it a customs-notified port was made earlier this week, according to people aware of the details.
  18. Which leading industry body has introduced a Corporate Governance Charter specifically tailored for startups to serve as a self-governing code for compliance?
    A) Federation of Indian Chambers of Commerce and Industry (FICCI)
    B) Associated Chambers of Commerce and Industry of India (ASSOCHAM)
    C) Confederation of Indian Industry (CII)
    D) National Association of Software and Service Companies (NASSCOM)
    E) None of the above
    View Answer
    Option C
    Explanation:

    Confederation of Indian Industry (CII), a leading industry body, has come up with a Corporate Government Charter for startups to serve as a self-governing code for them in their compliance journey.
  19. Who has appointed two new members, A Ganesh Kumar and Debasis Kundu, to India’s National Statistical Commission after a one-year gap?
    A) Ministry of Finance
    B) Ministry of Statistics and Programme Implementation
    C) Ministry of External Affairs
    D) None of these
    E) Ministry of Home Affairs
    View Answer
    Option B
    Explanation:

    India’s National Statistical Commission is back to full capacity with the appointment of two new members after a one-year gap.
    The Ministry of Statistics and Programme Implementation (MoSPI) has appointed A Ganesh Kumar and Debasis Kundu as members of the commission, which is mandated to strengthen the country’s statistical system and firm up surveys to be undertaken to provide administrative statistics.
  20. What is the name of the long-range supersonic air-to-ground missile recently inducted by the Indian Air Force?
    A) Spice-2000
    B) Rampage
    C) High-Speed Low Drag-Mark 2
    D) Balakot
    E) None of the above
    View Answer
    Option B
    Explanation:

    In a major boost for firepower of its fighter aircraft fleet, the Indian Air Force has inducted the Rampage long-range supersonic air-to-ground missiles which can hit targets at around 250 Km. The missiles have a longer range than the Spice-2000s used in the Balakot air strikes in 2019.
  21. What is the name of the class of submarines that China has launched for its ally Pakistan, as part of a military cooperation agreement?
    A) Karachi-class
    B) WSIG-class
    C) ToT-class
    D) None of these
    E) Hangor-class
    View Answer
    Option E
    Explanation:

    China has launched the first of the eight Hangor-class submarines to be built for its all-weather ally Pakistan to provide it with state-of-the-art warships, adding a new dimension to their growing bilateral military cooperation.
  22. Subrahmanya Dhareshwar, known for his scintillating voice in Yakshagana, passed away at the age of 67 in Bengaluru. What title did he earn for his contributions to Yakshagana?
    A) Yakshagana Ratna
    B) Bhagavata Shrestha
    C) Yakshagana Prabhakara
    D) Bhagavata Nataka Bhushana
    E) None of the above
    View Answer
    Option B
    Explanation:

    Yakshagana thespian Subrahmanya Dhareshwar (67), who had earned the fame of ‘Bhagavata Shrestha’ for his scintillating voice, passed away in Bengaluru.
  23. Who received a copy of the book ‘India’s Nuclear Titans’, edited by Soumya Awasthi and Shrabana Barua, and emphasized the importance of recognizing the contributions of nuclear titans by emerging generations?
    A) Prime Minister Narendra Modi
    B) Defense Minister Rajnath Singh
    C) External Affairs Minister S Jaishankar
    D) Finance Minister Nirmala Sitharaman
    E) None of the above
    View Answer
    Option C
    Explanation:

    External Affairs Minister S Jaishankar received a copy of the book ‘India’s Nuclear Titans’ edited by Soumya Awasthi and Shrabana Barua. He said it is important that the contributions of nuclear titans is recognised by the emerging generations.
  24. Where did the Council of Scientific & Industrial Research (CSIR)-Indian Institute of Petroleum (IIP) celebrate its 65th Foundation Day on April 27, 2024?
    A) New Delhi
    B) Hyderabad
    C) Dehradun
    D) Mumbai
    E) None of the above
    View Answer
    Option C
    Explanation:

    Council of Scientific & Industrial Research(CSIR)-Indian Institute of Petroleum(IIP), Dehradun,celebrated its 65th Foundation Day on its campus on 27th April, 2024.
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