Friday, November 1, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: March 27, 2024

  1. What is the primary objective of TRAI’s amendment to the MNP(Mobile Number Portability) regulations regarding SIM porting?
    A) To increase mobile network coverage
    B) To promote SIM swap activities
    C) To reduce and prevent fraudulent SIM swaps
    D) To raise tariffs for mobile services
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Telecom Regulatory Authority of India (TRAI) has amended new regulations related to SIM porting, also known as Mobile Number Portability (MNP), to reduce and prevent fraudulent SIM swap activities.Under the new guideline, which will come into effect from July 1.
  2. Which regulatory body has directed the Association of Mutual Funds to halt inflows into overseas exchange-traded funds due to nearing the RBI’s overall limit of $1 billion?
    A) Reserve Bank of India (RBI)
    B) Securities and Exchange Board of India (SEBI)
    C) Ministry of Finance
    D) Association of Mutual Funds
    E) None of the above
    View Answer
    Option B
    Explanation:

    Capital market regulator SEBI has directed the Association of Mutual Funds to stop inflows into overseas exchange traded funds from April 1 as it is approaching the overall limit of $1 billion set by the RBI.
  3. Which entity has announced the launch of ‘ABHFL-Finverse’, a unified digital lending platform aimed at transforming the home loan experience for customers?
    A) Aditya Birla Group
    B) Aditya Birla Capital Limited
    C) Reserve Bank of India
    D) ICICI Prudential
    E) Aditya Birla Housing Finance Limited (ABHFL)
    View Answer
    Option E
    Explanation:

    Aditya Birla Housing Finance Limited (“ABHFL”), a fully owned subsidiary of Aditya Birla Capital Limited, India’s leading, diversified financial services company, has announced the launch of ‘ABHFL- Finverse’, a unified digital lending platform aimed at re-imagining the home loan experience for customers.
  4. Which renowned athlete, known for winning gold at the Olympics and Asian Games in Javelin Throw, recently became the brand ambassador of Eveready, joining Bollywood celebrities such as Akshay Kumar and Amitabh Bachchan?
    A) Neeraj Chopra
    B) Hima Das
    C) PV Sindhu
    D) Mary Kom
    E) None of the above
    View Answer
    Option A
    Explanation:

    Reigning Olympic and Asian Games gold medalist in Javelin Throw, Neeraj Chopra joined Bollywood bigwigs like Akshay Kumar and Amitabh Bachchan as he was named the newest brand ambassador of Eveready.
  5. Which organization achieved the milestone of practically zero orbital debris with its POEM-3 mission?
    A) NASA
    B) ESA (European Space Agency)
    C) ISRO (Indian Space Research Organisation)
    D) CNSA (China National Space Administration)
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Indian Space Research Organisation (ISRO) said that it has achieved another milestone as the PSLV Orbital Experimental Module-3 (POEM-3) met its fiery end through a re-entry into the Earth’s atmosphere. The PSLV-C58/XPoSat mission has practically left zero debris in orbit.
  6. In which sport did Sreeja Akula secure the women’s singles title, while Manav Thakar and Manush Shah triumphed in the men’s doubles event at the WTT Feeder Beirut II in Beirut, Lebanon?
    A) Tennis
    B) Badminton
    C) Table Tennis
    D) None of these
    E) Squash
    View Answer
    Option C
    Explanation:

    Indian paddler Sreeja Akula clinched the women’s singles title while Manav Thakar and Manush Shah reigned supreme in the men’s doubles event at the WTT Feeder Beirut II in Beirut, Lebanon.
  7. What regulatory approval has Innoviti Payment Solutions recently obtained from the Reserve Bank of India?
    A) Approval to launch a new cryptocurrency
    B) Permission to acquire a competitor company
    C) ‘In-principle approval’ to operate as a payment aggregator
    D) Authorization to expand its services internationally
    E) None of the above
    View Answer
    Option C
    Explanation:

    Innoviti Payment Solutions has received ‘in-principle approval’ from the Reserve Bank of India (RBI) to operate as a payment aggregator.
  8. Which regulatory body has imposed monetary penalties on five cooperative banks, including Mathura Jilla Sahkari Bank and Solapur Janata Sahakari Bank, for rule violations?
    A) Securities and Exchange Board of India (SEBI)
    B) Reserve Bank of India (RBI)
    C) Insurance Regulatory and Development Authority of India (IRDAI)
    D) Competition Commission of India (CCI)
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Reserve Bank of India (RBI) said it has imposed monetary penalty on five co-operative banks viz., Mathura Jilla Sahkari Bank, Solapur Janata Sahakari Bank, The Janalaxmi Co-operative Bank, Chikkamagaluru District Cooperative Central Bank, and The Dindigul Urban Co-operative Bank, for rule violations.
  9. Which renowned Tamil actor, also known as Lollu Sabha Seshu, has recently passed away at the age of 60?
    A) Vijay Sethupathi
    B) Suriya
    C) Kamal Haasan
    D) Lakshmi Narayanan Seshu
    E) None of the above
    View Answer
    Option D
    Explanation:

    Popular Tamil actor Lakshmi Narayanan Seshu, also known as Lollu Sabha Seshu, has passed away at the age of 60.
  10. What is the forecast made by S&P Global Ratings regarding rate adjustments by India’s central bank for the financial year 2024-25?
    A) Increase in rates by 75 basis points
    B) No change in interest rates
    C) Decrease in rates by 75 basis points
    D) Increase in rates by 50 basis points
    E) None of the above
    View Answer
    Option C
    Explanation:

    S&P Global Ratings forecast rate cuts of up to 75 basis points (100 basis points is equal to 1 percentage point) in India by its central bank in the financial year 2024-25.
  11. Who has been appointed as the new ambassador to Myanmar, succeeding Vinay Kumar?
    A) Narendra Modi
    B) Abhay Thakur
    C) Vinay Kumar
    D) None of these
    E) Manmohan Singh
    View Answer
    Option B
    Explanation:

    Veteran diplomat Abhay Thakur, a key member of the team that guided negotiations during India’s G20 presidency last year, was named the new ambassador to Myanmar.He will replace Vinay Kumar who was appointed the new ambassador to Russia last week.

  12. Which of the following statements accurately describes India’s current account balance in Q3 of the financial year 2023-24?
    A) India’s current account balance recorded a surplus of US$ 10.5 billion.
    B) India’s current account balance recorded a deficit of US$ 10.5 billion.
    C) India’s current account balance remained unchanged in Q3.
    D) India’s current account balance improved by US$ 10.5 billion in Q3.
    E) None of the above
    View Answer
    Option B
    Explanation:

    India’s current account balance records deficit of US$ 10.5 billion in Q3:2023-24
  13. Which insurance company is regarded as the strongest insurance brand, according to the Brand Finance Insurance 100 2024 report?
    A) HDFC Life Insurance
    B) ICICI Prudential Life Insurance
    C) Life Insurance Corporation of India (LIC)
    D) Max Life Insurance
    E) None of the above
    View Answer
    Option C
    Explanation:

    Life Insurance Corporation of India (LIC) is termed as the strongest insurance brand with a steady brand value of $9.8 billion, a brand strength index score of 88.3, and an associated AAA brand strength rating, notes a report by Brand Finance Insurance 100 2024.
  14. Which company recently introduced a groundbreaking Unified Shipping API Software Platform?
    A) FedEx
    B) DHL
    C) UPS
    D) Blue Dart
    E) None of the above
    View Answer
    Option D
    Explanation:

    Blue Dart, South Asia’s premier express air and integrated transportation & distribution company, is pleased to announce the launch of a ground breaking Unified Shipping API Software Platform.
  15. Which global brokerage firm has revised its GDP growth forecast for the financial year 2024-25 to 6.8 percent, up from the previous estimate of 6.5 percent?
    A) Goldman Sachs
    B) Morgan Stanley
    C) JPMorgan Chase
    D) Citigroup
    E) None of the above
    View Answer
    Option B
    Explanation:

    Global brokerage firm Morgan Stanley has revised its gross domestic product (GDP) growth forecast for the financial year 2024-25 (FY25) to 6.8 per cent, up from the previous estimate of 6.5 per cent. The firm also revised its growth forecast for the ongoing financial year (FY24) to 7.9 per cent.
  16. Which countries have experienced a decline in GDP (PPP) rankings over the years, while India has notably increased its share, according to a recent report?
    A) China, Brazil, Russia
    B) India, China, United States
    C) Germany, Japan, United Kingdom
    D) France, Italy, Canada
    E) None of the above
    View Answer
    Option C
    Explanation:

    As countries like Germany, Japan and the UK continue to drop down in GDP (PPP) rankings over the years, India has achieved significant gains in GDP and the country’s share has been significantly increasing, a latest report has revealed.

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