Sunday, June 23, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: June 1, 2024

  1. Which institution recently collaborated with the Defence Research and Development Organisation (DRDO) to establish a DRDO-Industry-Academia Centre of Excellence (DIA CoE) for interdisciplinary research in next-generation defence technologies?
    A) Indian Institute of Technology Bombay (IITB)
    B) Indian Institute of Science (IISc)
    C) Indian Institute of Technology Kanpur (IITK)
    D) Indian Institute of Technology Madras (IITM)
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Indian Institute of Technology Kanpur (IITK), in collaboration with the Defence Research and Development Organisation (DRDO), has established a DRDO-Industry-Academia Centre of Excellence (DIA CoE) on its campus for interdisciplinary research in next-generation defence technologies.
  2. Which university secured the top position in the Times Higher Education’s Asia University Rankings 2024?
    A) Tsinghua University
    B) Peking University
    C) National University of Singapore
    D) Indian Institute of Science
    E) None of the above
    View Answer
    Option A
    Explanation:

    According to the latest release of Times Higher Education’s (THE) Asia University Rankings 2024, Indian universities have made significant progress in some areas while facing some setbacks in others. The Indian Institute of Science is leading the way for Indian universities at 32nd position.
    THE’s Asia University Rankings are highly competitive, with Tsinghua University in China retaining its top position for the sixth consecutive year. Peking University follows closely, maintaining its second place ranking, while the National University of Singapore secures the third spot.
  3. What is the objective of Bank of Maharashtra’s Maha Krishi Samriddhi Yojana (MKSY)?
    A) Providing financial support for housing projects
    B) Supporting healthcare initiatives in rural areas
    C) Offering financial assistance for food and agro-based industries
    D) Promoting tourism development in agricultural regions
    E) None of the above
    View Answer
    Option C
    Explanation:

    Bank of Maharashtra has launched Maha Krishi Samriddhi Yojana (MKSY), which provides financial assistance for agri-infrastructure projects involved in food and agro-based industries, processing activities and development of agricultural infrastructure facilities.
  4. According to CRISIL Ratings, what is the expected bank credit growth rate for FY25?
    A) 12%
    B) 14%
    C) 16%
    D) 18%
    E) None of the above
    View Answer
    Option B
    Explanation:

    Bank credit growth in FY25 is expected to moderate 200 basis points (bps) to 14% from an estimated growth of 16% in FY24 due to a high base effect, a revision in risk weights and a somewhat slower pace of gross domestic product (GDP) growth, CRISIL Ratings said in a report.
  5. Albert S Ruddy, the renowned film producer who recently passed away, was honored with Oscars for his contributions to which movies?
    A) The Shawshank Redemption and Titanic
    B) The Godfather and Million Dollar Baby
    C) Pulp Fiction and Forrest Gump
    D) Jurassic Park and Avatar
    E) None of the above
    View Answer
    Option B
    Explanation:

    Canadian-American film and TV producer Albert S Ruddy, who won Oscars for The Godfather and Million Dollar Baby, has passed away at the age of 94. Ruddy, celebrated for his contributions to film and television, leaves behind a rich legacy that has left an indelible mark on the entertainment world.
  6. Who has been approved by the Insurance Regulatory and Development Authority of India (IRDAI) as the Chairman of the Board of Directors of ICICI Prudential Life Insurance Company?
    A) M S Ramachandran
    B) Sandeep Batra
    C) Anil Ambani
    D) Ratan Tata
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Insurance Regulatory and Development Authority of India (IRDAI) has granted approval for the appointment of Sandeep Batra as the Chairman of the Board of Directors of ICICI Prudential Life Insurance Company,effective from June 30,2024. He will replace M S Ramachandran.
  7. What aid is Sweden providing to Ukraine to enhance its defense capabilities?
    A) Two fighter jets
    B) Two radar surveillance and command aircraft
    C) Military training personnel
    D) Financial assistance
    E) None of the above
    View Answer
    Option B
    Explanation:

    Sweden will donate two radar surveillance and command aircraft to Ukraine to boost its defences in the war with Russia, the Swedish government said, its largest aid package to Ukraine so far, worth about 13.3 billion Swedish crowns (US$1.3 billion).
  8. After how many years is Russia planning to remove the Taliban from its list of banned terrorist organizations?
    A) One year
    B) Two years
    C) Three years
    D) Four years
    E) None of the above
    View Answer
    Option C
    Explanation:

    Russia is set to remove the Taliban from its list of banned terrorist organizations, three years after the group regained power in Afghanistan. This move comes after years of Russia fostering relations with the Taliban, including holding multiple rounds of talks and boosting trade despite international sanctions.
  9. Which Indian companies have been recognized as some of the world’s most influential companies by TIME magazine for 2024?
    A) Infosys and Wipro
    B) Reliance Industries Limited (RIL) and Tata Group
    C) Hindustan Unilever Limited (HUL) and Mahindra & Mahindra
    D) Flipkart and Paytm
    E) None of the above
    View Answer
    Option B
    Explanation:

    Mukesh Ambani-led Reliance Industries Limited (RIL), along with the Tata Group and Adar Poonawalla-led Serum Institute of India (SII), have been recognized as some of the world’s most influential companies by TIME magazine for 2024. For Reliance, this marks its second appearance in the TIME 100 list.
  10. According to a new analysis, Venus is found to be more volcanically active than previously known. Which organization claimed to have discovered evidence of eruptions at two additional sites on Venus’ surface?
    A) NASA
    B) European Space Agency (ESA)
    C) Italy’s International Research School of Planetary Sciences
    D) Japan Aerospace Exploration Agency (JAXA)
    E) None of the above
    View Answer
    Option C
    Explanation:

    Venus appears to be more volcanically active than previously known, according to scientists whose new analysis of decades-old radar images has spotted evidence of eruptions at two additional sites on the surface of Earth’s inhospitable planetary neighbour.
    Italy’s International Research School of Planetary Sciences has claimed to have known the details about the changes related to the planet’s surface. These images captured by the researchers were then tallied with the earlier images of the planet’s surface taken between 1990-1992.
  11. Which international institutions hold more than half of the Reserve Bank of India’s gold reserves?
    A) World Bank and International Monetary Fund
    B) Bank of England and Bank of International Settlements
    C) European Central Bank and Federal Reserve System
    D) Asian Development Bank and African Development Bank
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Reserve Bank of India (RBI) has moved approximately 100 tonnes (1 lakh kilograms) of gold from the United Kingdom to its vaults in India. This is the first time since 1991 that India has undertaken such a large-scale transfer of gold reserves.
    More than half of the RBI’s gold reserves are held overseas in secure custody with the Bank of England and the Bank of International Settlements, while approximately a third is stored domestically. This move is expected to help the RBI save on storage costs currently paid to the Bank of England.
  12. Which educational institutions have come together to introduce an elective in the Executive MBA (EMBA) program?
    A) Indian Institute of Management Raipur (IIM Raipur) and Stanford University
    B) Indian Institute of Technology Delhi (IIT Delhi) and University of Cambridge
    C) Indian Institute of Management Bangalore (IIM Bangalore) and London School of Economics
    D) Indian Institute of Management Raipur (IIM Raipur), Birmingham City University (BCU), and Ronkel Media Education and Research Institute
    E) None of the above
    View Answer
    Option D
    Explanation:

    In collaboration, the Indian Institute of Management Raipur (IIM Raipur), Birmingham City University (BCU), and Ronkel Media Education and Research Institute have introduced an elective in the Executive MBA (EMBA) programme.
  13. Which two organizations have partnered to accelerate the adoption of Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs)?
    A) Google and Amazon
    B) Google Cloud and EkStep Foundation
    C) Microsoft and Apple
    D) IBM and Facebook
    E) None of the above
    View Answer
    Option B
    Explanation:

    Google Cloud and Bengaluru-based EkStep Foundation have collaborated to expedite the adoption of Digital Public Infrastructure (DPI) and Digital Public Goods (DPGs) across different domains and sectors, according to a joint statement.
  14. What is the latest feature introduced by Truecaller to combat spam and scams?
    A) Truecaller AI Chat
    B) Truecaller Spam Blocker
    C) Truecaller AI Call Scanner
    D) Truecaller Fraud Alert
    E) None of the above
    View Answer
    Option C
    Explanation:

    Truecaller, the world’s leading global communications platform, announced the latest salvo in its arsenal of spam and scam fighting abilities: the AI Call Scanner.AI Call Scanner is trained to detect and differentiate between human voices and AI-synthesized voices, empowering people to safeguard themselves against potential scams and fraudulent activities.

  15. What strategic action has the Reserve Bank of India (RBI) taken to promote the internationalization of the Indian Rupee?
    A) Allowing foreign banks to operate in India
    B) Permitting foreign investment in Indian stocks
    C) Opening rupee accounts outside India
    D) Issuing new denominations of Indian currency
    E) None of the above
    View Answer
    Option C
    Explanation:

    The RBI aspires to promote the internationalization of the Indian Rupee to facilitate bilateral trade in local currencies. As a part of its strategic action plan, the RBI allowed the opening of rupee accounts outside India.
    In its Annual Report, RBI said rationalization of various guidelines will be a priority, with an emphasis on continuous synchronization of the Foreign Exchange Management Act (FEMA) operating framework with the evolving macroeconomic environment.
  16. According to the RBI’s annual report, what was the percentage change in the amount involved in bank frauds from FY23 to FY24?
    A) Increased by 46.7%
    B) Increased by 166%
    C) Decreased by 46.7%
    D) Decreased by 166%
    E) None of the above
    View Answer
    Option C
    Explanation:

    As many as 36,075 frauds were reported in banks in the financial year 2023-24 (FY24), growing nearly 166 per cent from the 13,564 cases reported in FY23.
    The amount involved in the bank frauds decreased 46.7 percent year-on-year (Y-o-Y) in FY to Rs 13,930 crore, according to the Reserve Bank of India’s (RBI) annual report released The amount in FY23 was Rs 26,127 crore.
  17. Who launched the cybersecurity training programme called Cyber Sainik to train 25,000 students across India?
    A) Data Security Council of India (DSCI) and Google
    B) National Cyber Security Centre (NCSC) and Amazon
    C) Data Security Council of India (DSCI) and Kyndryl
    D) Cybersecurity and Infrastructure Security Agency (CISA) and Microsoft
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Data Security Council of India (DSCI), a not-for-profit industry body on data protection, in partnership with the IT infrastructure services provider Kyndryl launched a cybersecurity training programme – Cyber Sainik, which will train 25,000 students in three years across India.
  18. What additional coverage does Reliance General Insurance’s new accident policy, Reliance Personal Accident 360Shield, offer?
    A) Coverage for travel expenses
    B) Coverage for property damage
    C) Coverage for loan liabilities and EMIs
    D) Coverage for legal expenses
    E) None of the above
    View Answer
    Option C
    Explanation:

    Reliance General Insurance has launched a new accident policy Reliance Personal Accident 360Shield which will cover an individual’s financial liabilities like loans and EMIs in addition to expenses related to hospitalisation and aftercare in the event of an incident.
  19. What was the growth rate of Real GDP estimated for the Financial Year 2023-24 compared to the previous year?
    A) 6.7%
    B) 7.0%
    C) 8.2%
    D) 9.6%
    E) 8.6%
    View Answer
    Option C
    Explanation:

    Real GDP has been estimated to grow by 8.2% in FY 2023-24 as compared to the growth rate of 7.0% in FY 2022-23. Nominal GDP has witnessed a growth rate of 9.6% in FY 2023-24 over the growth rate of 14.2% in FY 2022-23.
  20. What was the percentage increase in the combined Index of Eight Core Industries (ICI) in April 2024 compared to April 2023?
    A) 4.1%
    B) 6.2%
    C) 7.6%
    D) 8.2%
    E) None of the above
    View Answer
    Option B
    Explanation:

    The combined Index of Eight Core Industries (ICI) increased by 6.2 per cent (provisional) in April, 2024 as compared to the Index in April, 2023. The production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil and Cement recorded positive growth in April 2024.
    The final growth rate of the Index of Eight Core Industries for January 2024 is revised to 4.1 per cent. The cumulative growth rate of ICI during 2023-24 reported 7.6 per cent (provisional) as compared to the corresponding period of last year.
  21. Which institution has been awarded the Nelson Mandela Award for Health Promotion for 2024 by the World Health Organization (WHO)?
    A) Indian Institute of Technology Bombay (IIT Bombay)
    B) National Institute of Mental Health & Neuro Sciences (NIMHANS)
    C) All India Institute of Medical Sciences (AIIMS)
    D) Tata Memorial Hospital
    E) None of the above
    View Answer
    Option B
    Explanation:

    National Institute of Mental Health & Neuro Sciences (NIMHANS), Bengaluru, an Institute of National Importance under the Ministry of Health and Family Welfare, Government of India has been awarded with the Nelson Mandela Award for Health Promotion for 2024 by the World Health Organization (WHO).
  22. Which financial institution has received clearance from the Competition Commission of India (CCI) to acquire an 11% stake in HDFC Credila Financial Services?
    A) ICICI Bank
    B) Axis Bank
    C) Shinhan Bank
    D) State Bank of India
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Competition Commission of India (CCI) has cleared South Korea-based Shinhan Bank’s proposed acquisition of an 11 per cent stake in HDFC Credila Financial Services.Part of the Shinhan Financial Group, Shinhan Bank Co Ltd is a multinational bank, which commenced operations in India in 1996.
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