Monday, June 24, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: June 2 and 3, 2024

  1. Which institutions have collaborated with the Indian Institute of Management (IIM) Raipur to offer the elective course “Bringing Humanities and Innovation Management and Creative Entrepreneurial Leadership” in their Executive MBA program?
    A) Harvard University and Ronkel Media Institute
    B) Birmingham City University and Ronkel Media Institute
    C) Oxford University and Ronkel Media Institute
    D) None of these
    E) Stanford University and Ronkel Media Institute
    View Answer
    Option B
    Explanation:

    The Indian Institute of Management (IIM) Raipur and Birmingham City University (BCU) have collaborated to launch an elective course “Bringing Humanities and Innovation Management and Creative Entrepreneurial Leadership.”
  2. Which bank has Maruti Suzuki India Ltd. (MSIL) signed a Memorandum of Understanding (MoU) with for dealer inventory funding, benefiting over 3,863 sales outlets across India?
    A) HDFC Bank
    B) ICICI Bank
    C) DBS Bank India Ltd.
    D) State Bank of India
    E) None of the above
    View Answer
    Option C
    Explanation:

    Maruti Suzuki India Ltd. (MSIL) has signed a Memorandum of Understanding (MoU) with DBS Bank India Ltd. for dealer inventory funding. This will help dealers operating more than 3,863 Maruti Suzuki sales outlets across India, the automaker said.
  3. Which Indian healthcare AI startup, co-founded by Ankur Jain and GV Sanjay Reddy, has ranked number one on the Open Medical LLM (Large Language Model) Leaderboard?
    A) CureAI
    B) Jivi
    C) HealthTech Innovations
    D) MedAI Solutions
    E) None of the above
    View Answer
    Option B
    Explanation:

    Jivi, an Indian healthcare AI startup, co-founded by former BharatPe Chief Product Officer Ankur Jain, and GV Sanjay Reddy, Chairman, Reddy Ventures, has ranked number one on the Open Medical LLM (Large Language Model) Leaderboard.
  4. Which financial services arm of Reliance Industries Limited (RIL) has launched the beta version of the ‘JioFinance’ app, offering UPI and digital banking services?
    A) Jio Pay
    B) Jio Financial Services
    C) Reliance Money
    D) JioBank
    E) None of the above
    View Answer
    Option B
    Explanation:

    To take on competitors like Google and Amazon, RIL’s financial services arm Jio Financial Services announced the launch of a pilot version of ‘JioFinance’ app to offer UPI, digital banking and other services.
  5. Which organizations are planning to expand the Unified Payments Interface (UPI) to 20 countries by FY29, starting their work in FY25?
    A) RBI and NITI Aayog
    B) RBI and NPCI International Payments (NIPL)
    C) NPCI and Ministry of Finance
    D) RBI and Ministry of External Affairs
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Reserve Bank of India(RBI) , along with NPCI International Payments (NIPL), will in FY25 begin work towards taking UPI to 20 countries with a completion timeline of FY29, the central bank said in its annual report for FY24.
  6. What amount of monetary penalty has the Reserve Bank of India (RBI) imposed on SBM Bank (India) for non-compliance with regulatory norms?
    A) Rs 50.45 lakh
    B) Rs 75.56 lakh
    C) Rs 88.70 lakh
    D) Rs 100.30 lakh
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Reserve Bank of India (RBI) said it has imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with certain regulatory norms. The central banks said the penalty has been imposed for non-compliance with licensing conditions imposed by the RBI, and specific directions to stop undertaking Liberalised Remittance Scheme (LRS) transactions with immediate effect.
  7. Which bank held the highest market share in the debit cards market in India in April 2024?
    A) HDFC Bank
    B) ICICI Bank
    C) State Bank of India
    D) Axis Bank
    E) None of the above
    View Answer
    Option C
    Explanation:

    India’s largest public sector lender, the State Bank of India, remained the front runner in the Debit cards market, holding a whopping 24 per cent market share in April 2024, revealed latest data by 1Lattice.
  8. Why has England paceman Brydon Carse been banned from all cricket for three months?
    A) Doping violations
    B) Match-fixing
    C) Betting violations
    D) Breach of contract
    E) None of the above
    View Answer
    Option C
    Explanation:

    England paceman Brydon Carse has been banned from all cricket for three months for betting violations.
  9. Which bank has partnered with Mastercard to introduce the NFC Soundbox, allowing merchants to accept various payment methods including Bharat QR, UPI, Tap & Pay, and Tap + Pin payments?
    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, one of the largest private sector banks in India, announced the launch of NFC Soundbox in collaboration with Mastercard.An industry-first proposition for the merchant community, the new soundbox will act as an all-in-one solution allowing the users to accept Bharat QR, UPI, Tap & Pay and Tap + Pin payments.With this launch, Axis Bank will be the first bank in India to introduce a Soundbox that can accept Tap + Pin payments, enabling merchants to accept transactions greater than ₹5000 via card instruments.
  10. Who claimed victory in the Scripps National Spelling Bee, securing success with an impressive 29-word streak in the tiebreaker?
    A) Maya Patel
    B) Ethan Johnson
    C) Olivia Nguyen
    D) Bruhat Soma
    E) None of the above
    View Answer
    Option D
    Explanation:

    Bruhat Soma, a 12-year-old Indian-American seventh-grade student from Florida, has won the Scripps National Spelling Bee after he spelt 29 words correctly in the tiebreaker, maintaining the dominance of the children from the small ethnic community in the prestigious competition.
  11. Which organizations have partnered to manufacture a 3D-printed rocket engine, named PS4, intended to power the fourth stage of the Polar Satellite Launch Vehicle (PSLV)?
    A) NASA and SpaceX
    B) ISRO and Infosys
    C) ISRO and Wipro 3D
    D) ESA and Boeing
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Indian Space Research Organisation (ISRO) and Wipro 3D have successfully manufactured a 3D-printed rocket engine, the PS4, set to power the fourth stage of the Polar Satellite Launch Vehicle (PSLV).
  12. Which Indian state has introduced Artificial Intelligence (AI) learning in school textbooks for class VII students from this academic year?
    A) Karnataka
    B) Kerala
    C) Tamil Nadu
    D) Maharashtra
    E) None of the above
    View Answer
    Option B
    Explanation:

    From this academic year, around 4 lakh students in class VII in the Kerala state syllabus schools will get to learn Artificial Intelligence (AI) with its introduction in the revised Information & Communication Technology (ICT) textbook.
  13. Who has been designated as the brand ambassador for Tobacco Control by the Ministry of Health and Family Welfare, Government of India?
    A) PV Sindhu
    B) Saina Nehwal
    C) Kidambi Srikanth
    D) P. Gopichand
    E) None of the above
    View Answer
    Option A
    Explanation:

    The Ministry of Health and Family Welfare, Government of India, organized an event to observe World No Tobacco Day 2024 on May 31,2024. This year’s theme, “Protecting Children from Tobacco Industry Interference,” highlights the urgent need to shield youth from the detrimental influences of tobacco consumption.In a significant move to motivate young children and youth to steer clear of tobacco in all forms, Indian badminton maestro Ms. PV Sindhu was designated as the brand ambassador for Tobacco Control.
  14. What is the fiscal deficit as a percentage of GDP for the fiscal year 2023-24, as per official data released?
    A) 5.8%
    B) 6.0%
    C) 5.63%
    D) 6.21%
    E) 5.24%
    View Answer
    Option C
    Explanation:

    The government’s fiscal deficit for 2023-24 stood at 5.63 per cent of the GDP, marginally better then the 5.8 per cent estimated in the Union Budget, as per official data released. In actual terms, the fiscal deficit, or gap between expenditure and revenue, was at Rs 16.53 lakh crore.
  15. Canara Bank has approved the initiation of the process to dilute its stake in which subsidiary through an initial public offering (IPO)?
    A) Canara HSBC Life Insurance
    B) Canara Bank Securities Ltd
    C) Canara Wealth Management Ltd
    D) Canara General Insurance Company Ltd
    E) None of the above
    View Answer
    Option A
    Explanation:

    Canara Bank granted an approval for initiating the process of diluting its 14.50 per cent stake in its subsidiary Canara HSBC Life Insurance Company Ltd through an initial public offering (IPO).
  16. What was the growth rate of India’s core sector output in April 2024, as per government data?
    A) 4.6%
    B) 6.0%
    C) 6.2%
    D) 5.2%
    E) 7.2%
    View Answer
    Option C
    Explanation:

    Aided by a strong show from electricity generation, coal and natural gas sectors, the output of eight core industries hit a three-month high of 6.2 per cent in April 2024, higher than the upward revised output growth of 6 per cent in March 2024.
  17. What was the gross Goods and Services Tax (GST) revenue for the month of May 2024?
    A) ₹1.73 trillion
    B) ₹1.73 lakh crore
    C) ₹1.73 crore
    D) ₹1.73 billion
    E) None of the above
    View Answer
    Option B
    Explanation:

    The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%).
  18. What is Moody’s projection for India’s GDP growth in the current year?
    A) 6.5%
    B) 6.8%
    C) 7.0%
    D) 6.0%
    E) 5.0%
    View Answer
    Option B
    Explanation:

    Moody’s Ratings projected India to grow 6.8 per cent in the current year, followed by 6.5 per cent in 2025, on the back of strong economic expansion, along with post-election policy continuity.
  19. Which organizations have launched a USD 135 million initiative aimed at supporting 15 Small Island Developing States (SIDS) to combat environmental degradation?
    A) World Bank and International Monetary Fund (IMF)
    B) United Nations Development Programme (UNDP) and Global Environment Facility (GEF)
    C) International Monetary Fund (IMF) and Global Environment Facility (GEF)
    D) World Bank and United Nations Development Programme (UNDP)
    E) None of the above
    View Answer
    Option B
    Explanation:

    United Nations Development Programme (UNDP) and Global Environment Facility (GEF) has launched a USD 135 million initiative targeted at 15 Small Island Developing States (SIDS) including the Maldives, to combat environmental degradation.
  20. In which stadium did Real Madrid win their record-extending 15th UEFA Champions League title by defeating Borussia Dortmund 2-0 in the final?
    A) Santiago Bernabéu Stadium
    B) Camp Nou
    C) Allianz Arena
    D) Wembley Stadium
    E) None of the above
    View Answer
    Option D
    Explanation:

    Real Madrid became the UEFA Champions League holders for the record-extending 15th time as they beat Borussia Dortmund 2-0 in the final at the Wembley Stadium in London.
  21. Who has reclaimed the title of Asia’s richest person with a net worth of $111 billion, according to the Bloomberg Billionaires Index?
    A) Ratan Tata
    B) Mukesh Ambani
    C) Gautam Adani
    D) Azim Premji
    E) None of the above
    View Answer
    Option C
    Explanation:

    Gautam Adani, chairman of multinational conglomerate the Adani Group, has reclaimed the title of the richest person in Asia with a net worth of $111 billion, according to the Bloomberg Billionaires Index. This came after the group’s shares rallied up to 14 per cent.
  22. Which Swiss bank completed the historic acquisition of its former rival Credit Suisse, leading to the formal end of Credit Suisse’s legal existence?
    A) UBS Group AG
    B) Julius Baer Group
    C) Credit Agricole
    D) Credit Suisse Group AG
    E) None of the above
    View Answer
    Option A
    Explanation:

    UBS Group AG completed the historic acquisition of its former rival Credit Suisse, marking a new chapter for the Swiss financial sector as the defunct bank’s legal existence has formally ended.
  23. Which space agency successfully landed the Chang’e-6 spacecraft on the far side of the Moon to collect samples?
    A) NASA
    B) European Space Agency (ESA)
    C) China National Space Administration (CNSA)
    D) Roscosmos
    E) None of the above
    View Answer
    Option C
    Explanation:

    A Chinese spacecraft Chang’e-6 successfully touched down on the far side of the Moon, in the first endeavour of its kind to collect samples from this rarely explored terrain. Chang’e-6 consists of an orbiter, a returner, a lander and an ascender.
    The Chang’e-6 landed at the designated landing area in the South Pole-Aitken (SPA) Basin for the first time in human history, the China National Space Administration (CNSA) announced.
  24. As per the Andhra Pradesh Reorganisation Act, 2014, which city ceased to be the common capital of Telangana and Andhra Pradesh, effective from June 2?
    A) Visakhapatnam
    B) Vijayawada
    C) Hyderabad
    D) Amaravati
    E) None of the above
    View Answer
    Option C
    Explanation:

    Hyderabad, one of the bustling metropolitan cities of the country, ceased to be the common capital of Telangana and Andhra Pradesh as per the Andhra Pradesh Reorganisation Act, 2014.
    Beginning June 2, Hyderabad will be the capital city of Telangana only.Hyderabad was made the capital city of the two states for 10 years when the bifurcation of undivided Andhra Pradesh was carried out in 2014. Telangana came into existence on June 2, 2014.
  25. In May, the Unified Payments Interface (UPI) network processed a record number of transactions worth how much in terms of value?
    A) Rs 20.45 trillion
    B) Rs 19.64 trillion
    C) Rs 14.04 trillion
    D) Rs 13.3 trillion
    E) None of the above
    View Answer
    Option A
    Explanation:

    Marking a record surge in the month of May, the Unified Payments Interface (UPI) network set a new record by processing 14.04 billion transactions, up from 13.3 billion in April.The data released by NPCI said that in terms of value, the UPI transactions amounted to Rs 20.45 lakh crore in May, compared to Rs 19.64 lakh crore in April. Notably in April, the network saw a 1% decline to 13.3 billion transactions from 13.44 billion in March.
  26. Which cricketer recently announced his retirement from all formats of cricket after participating in the Indian Premier League 2024?
    A) Rohit Sharma
    B) Dinesh Karthik
    C) Virat Kohli
    D) MS Dhoni
    E) None of the above
    View Answer
    Option B
    Explanation:

    India and Tamil Nadu wicketkeeper-batter Dinesh Karthik announced his retirement from competitive cricket. The Indian Premier League 2024, where Karthik turned out for Royal Challengers Bengaluru, was his last tournament as a player.
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