Friday, May 24, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: May 1, 2024

  1. Which of the following statements accurately describes the recent development regarding the Pension Fund Regulatory and Development Authority (PFRDA)?
    A) PFRDA has initiated a system for arbitrary regulation adjustments, enhancing flexibility in pension management.
    B) PFRDA has established a transparent framework for formulating and evaluating regulations, promoting clarity and predictability in rule-making.
    C) PFRDA has abolished its regulatory oversight, allowing pension fund managers complete autonomy in decision-making.
    D) PFRDA has introduced a randomized approach to regulation formulation, aiming to increase regulatory complexity for better market adaptability.
    E) None of the above
    View Answer
    Option B
    Explanation:

    Pension regulator PFRDA has now implemented a mechanism for making and reviewing regulations, bringing more transparency and certainty in the rule-making process.
  2. Which port in the Northern part of Sri Lanka is set to undergo renovation with the support of an Indian financial grant?
    A) Hambantota Port
    B) Colombo Port
    C) Galle Port
    D) Kankesanthurai Port
    E) None of the above
    View Answer
    Option D
    Explanation:

    Sri Lanka’s Cabinet has approved the plan to renovate the Kankesanthurai port in the Northern part of the island. The project will be executed under an Indian financial grant.
  3. Which city has been identified as the most polluted in the world according to IQAir’s real-time pollution measurements?
    A) New Delhi
    B) Kathmandu
    C) Chiang Mai
    D) Hanoi
    E) None of the above
    View Answer
    Option B
    Explanation:

    According to IQAir, an organization that measures the real-time pollution of 101 cities in the world, Kathmandu was found to be the most polluted city in the world. In terms of pollution, Kathmandu, New Delhi, Chiang Mai in Thailand, Hanoi in Vietnam, Bangkok in Thailand and Dhaka in Bangladesh are ranked first, second, third, fourth and fifth respectively.
  4. What is a significant change introduced by the revised guidelines regarding Real Estate (RE) investments in Alternative Investment Funds (AIFs)?
    A) AIFs are now prohibited from making any downstream investments in RE’s debtor companies.
    B) The revised guidelines allow for a split deduction between Tier 1 and Tier 2 capital for RE investments in AIFs.
    C) AIFs are required to make a 100% provision against their entire investment in RE’s debtor companies.
    D) The definition of “downstream investment” has been clarified to exclude equity shares held by AIFs in RE’s debtor companies.
    E) None of the above
    View Answer
    Option D
    Explanation:

    Earlier guidelines prohibited RE investments in AIFs with any downstream investments (direct or indirect) in the RE’s debtor companies. The revised definition clarifies “downstream investment” to exclude equity shares held by the AIF in the RE’s debtor company. However, all other investments, including hybrid instruments, are now considered downstream investments.
  5. What recent initiative has the Reserve Bank of India (RBI) announced, aimed at providing key inputs for its bi-monthly monetary policy?
    A) The launch of a survey to assess consumer spending patterns across various cities.
    B) The introduction of a scheme to incentivize household savings through fixed deposits.
    C) The implementation of a program to monitor industrial production in major urban centers.
    D) The initiation of ‘Inflation Expectations Survey of Households’ and ‘Consumer Confidence Survey’ across 19 cities.
    E) None of the above
    View Answer
    Option D
    Explanation:

    The Reserve Bank of India (RBI) announced the launch of ‘Inflation Expectations Survey of Households’ and ‘Consumer Confidence Survey’ which will provide key inputs for the bi-monthly monetary policy. The next bi-monthly monetary policy is scheduled during June 5-7, 2024.
  6. What decision has the Reserve Bank of India (RBI) recently announced regarding foreign portfolio investors’ (FPIs) investment limits in various types of securities for the fiscal year 2024-25?
    A) The limits for FPIs’ investment in government securities have been increased to accommodate higher foreign investment.
    B) The limits for FPIs’ investment in state development loans have been reduced to encourage domestic investors’ participation.
    C) The limits for FPIs’ investment in corporate bonds have been revised to stimulate corporate borrowing from domestic sources.
    D) The RBI has maintained the existing investment limits for FPIs in government securities, state development loans, and corporate bonds for the upcoming fiscal year.
    E) None of the above
    View Answer
    Option D
    Explanation:

    The Reserve Bank of India (RBI) said the limits for FPIs’ (foreign portfolio investors) investment in government securities, state development loans and corporate bonds will remain unchanged at 6%, 2% and 15%, respectively, of outstanding stocks of securities for 2024-25
  7. According to the Asian Development Bank’s Annual Report for 2023, what portion of its financial commitment was dedicated to climate action initiatives?
    A) USD 9.8 billion
    B) USD 13.8 billion
    C) USD 23.6 billion
    D) USD 33.4 billion
    E) None of the above
    View Answer
    Option A
    Explanation:

    The Asian Development Bank (ADB) committed USD 23.6 billion from its own resources in 2023, including USD 9.8 billion for climate action, to help Asia and the Pacific progress on sustainable development.)
  8. Which company has partnered with the State Bank of India for its digital transformation?
    A) TCS (Tata Consultancy Services)
    B) Infosys
    C) HCLSoftware (HCLTech’s software business unit)
    D) None of these
    E) Wipro
    View Answer
    Option C
    Explanation:

    The country’s largest lender, the State Bank of India, partnered with HCLSoftware, the software business unit of HCLTech, for the bank’s digital transformation.
  9. Which organizations have announced a two-year strategic partnership to drive innovation in Mobile Financial Services (MFS) and Fintech solutions?
    A) Ericsson and Indian Institute of Technology (IIT) Kanpur
    B) Ericsson and Fintech Solutions Development Institute
    C) Ericsson and Foundation for Innovation & Research in Science & Technology (F.I.R.S.T)
    D) None of these
    E) Ericsson and Fintech Solutions Development Institute
    View Answer
    Option C
    Explanation:

    Ericsson and the Foundation for Innovation & Research in Science & Technology (F.I.R.S.T) at Indian Institute of Technology (IIT) Kanpur have announced a two-year strategic partnership to drive innovation in Mobile Financial Services (MFS) and Fintech solutions.
    This collaboration comes at a pivotal moment as the digital wallet market is predicted to surpass $16 trillion in transactions by 2028.
  10. NHPC Limited, India’s largest organization for hydropower development, has signed a Memorandum of Understanding (MoU) with which company for technology provision to the floating solar industry?
    A) M/s Ocean Wave
    B) M/s Ocean Wind
    C) SunRise Energy
    D) Ocean Solar Technologies
    E) M/s Ocean Sun
    View Answer
    Option E
    Explanation:

    NHPC Limited, the largest organization for hydropower development in India, has signed a Memorandum of Understanding with M/s Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry.
  11. Which organization was granted Navratna Status by the Department of Public Enterprises (DPE), allowing it to operate more independently and efficiently?
    A) Housing & Urban Development Corporation (HUDCO)
    B) Indian Renewable Energy Development Agency (IREDA)
    C) National Housing Bank (NHB)
    D) Urban Development Corporation (UDC)
    E) None of the above
    View Answer
    Option A
    Explanation:

    The Department of Public Enterprises (OPE) granted the Navratna Status to Housing & Urban Development Corporation (HUDCO). This status allows IREDA to operate more independently and efficiently.
  12. Who recently became the first player in the history of the IPL (Indian Premier League) to be part of 150 victories?
    A) Virat Kohli
    B) Rohit Sharma
    C) MS Dhoni
    D) David Warner
    E) None of the above
    View Answer
    Option C
    Explanation:

    MS Dhoni scripted a new IPL record as he became the first player in the history of the T20 tournament to be part of 150 victories. Dhoni achieved the feat after the Super Kings hammered SunRisers by 78 runs, bowling out the batting powerhouses for just 134 runs at the MA Chidambaram Stadium in Chennai.
  13. At the Archery World Cup Stage-1, which team did the Indian men’s recurve team defeat to win a historic gold medal?
    A) China
    B) Japan
    C) South Korea
    D) United States
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Indian men’s recurve team won a historic gold medal at the Archery World Cup Stage-1 by defeating the world-champion South Korean team for the first time ever. The gold medal ended a 14-year gold medal drought at the men’s recurve team event at the Archery World Cup.
  14. Which event has EaseMyTrip partnered with as the presenting partner, starting on July 3, 2024, at Edgbaston Stadium in Birmingham, UK?
    A) FIFA World Cup
    B) ICC Cricket World Cup
    C) None of these
    D) World Championship of Legends (WCL)
    E) Wimbledon Tennis Championships
    View Answer
    Option D
    Explanation:

    EaseMyTrip has announced its partnership as the presenting partner of the World Championship of Legends (WCL), set to commence on July 3, 2024 at Edgbaston Stadium in Birmingham, UK.
  15. Who was appointed as the president of the Indian Vaccine Manufacturers Association (IVMA) for a two-year term from April 2024 to 2026?
    A) Adar C Poonawala
    B) Krishna M Ella
    C) Dr. Soumya Swaminathan
    D) None of these
    E) Dr. Randeep Guleria
    View Answer
    Option B
    Explanation:

    Bharat Biotech co-founder Krishna M Ella was appointed president of the Indian Vaccine Manufacturers Association (IVMA) for a two-year term from April 2024 to 2026. Krishna M Ella has taken over from Adar C Poonawala.
  16. Who resigned as Scotland’s first minister, triggering a leadership contest within the governing Scottish National Party?
    A) Nicola Sturgeon
    B) Alex Salmond
    C) Humza Yousaf
    D) Angus Robertson
    E) None of the above
    View Answer
    Option C
    Explanation:

    Scotland’s first minister, Humza Yousaf, resigned, triggering a leadership contest as the governing Scottish National Party seeks to heal internal divisions and strengthen its position ahead of U.K.-wide parliamentary elections expected later this year.
  17. Who was appointed as Pakistan’s deputy prime minister?
    A) Imran Khan
    B) Shah Mehmood Qureshi
    C) Ishaq Dar
    D) Asad Umar
    E) None of the above
    View Answer
    Option C
    Explanation:

    In a surprise move, Pakistan’s Foreign Minister Ishaq Dar was appointed as the country’s deputy prime minister.
  18. Who has been appointed as Director in the Department of Land Resources by the Department of Personnel & Training (DoPT)?
    A) Sarvadanand Barnwal
    B) Ramesh Sharma
    C) Anjali Patel
    D) Rajesh Singh
    E) None of the above
    View Answer
    Option A
    Explanation:

    Sarvadanand Barnwal, an Indian Statistical Service (ISS) officer of the 2010 batch, has been appointed as Director in the Department of Land Resources. The appointment was made through an order issued by the Department of Personnel & Training (DoPT).
  19. Who among the following noted personalities from the fields of art and culture will be honored with the prestigious Pandit Lacchu Maharaj Award?
    A) Hema Malini
    B) Saira Banu
    C) Both Hema Malini and Saira Banu
    D) Other prominent personalities
    E) None of the above
    View Answer
    Option C
    Explanation:

    Noted Hindi film superstars Hema Malini and Saira Banu as well as other prominent personalities from the fields of art and culture, will be honoured with the prestigious Pandit Lacchu Maharaj Award.
  20. Which news anchor from the India Today Group won the International News Media Association (INMA)’s 2024 Global Media Award for AI-led newsroom transformation?
    A) Sana
    B) Rahul
    C) Neha
    D) Akash
    E) None of the above
    View Answer
    Option A
    Explanation:

    India Today Group’s AI news anchor, Sana, has won the International News Media Association (INMA)’s 2024 Global Media Award for AI-led newsroom transformation.The awards ceremony was held at the Victoria and Albert Museum in London.
  21. Which institution conferred an honorary doctorate upon KV Kamath, the Chairman of National Bank for Financing Infrastructure and Development (NaBFID) and Chairman of Jio Financial Services Ltd.?
    A) Indian Institute of Technology (IIT), Bombay
    B) Manipal Academy of Higher Education (MAHE)
    C) Jawaharlal Nehru University (JNU)
    D) Indian Institute of Management (IIM), Ahmedabad
    E) None of the above
    View Answer
    Option B
    Explanation:

    Manipal Academy of Higher Education (MAHE) held a special convocation in Manipal to confer an honorary doctorate upon KV Kamath, Chairman of National Bank for Financing Infrastructure and Development (NaBFID) and Chairman of Jio Financial Services Ltd.
  22. Which rare butterfly species, commonly known as long-streak sailor, has been discovered for the first time in India in the Tale Valley Wildlife Sanctuary in Lower Subansiri district of Arunachal Pradesh?
    A) Danaus plexippus
    B) Papilio demoleus
    C) Neptis philyra
    D) Morpho peleides
    E) None of the above
    View Answer
    Option C
    Explanation:

    A rare butterfly species named Neptis philyra, commonly known as long-streak sailor, has been discovered for the first time in India in Tale Valley Wildlife Sanctuary in Lower Subansiri district of Arunachal Pradesh, by a team of butterfly enthusiasts.
  23. Which department launched the first synchronised estimation of the Nilgiri Tahr, the State animal of Tamil Nadu?
    A) Department of Wildlife Conservation
    B) Department of Environment and Climate Change
    C) Forest Department
    D) Department of Natural Resources
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Forest Department launched the first synchronised estimation of the Nilgiri Tahr, the State animal of Tamil Nadu. The synchronised survey will also cover the Eravikulam and the Silent Valley National Parks of Kerala that are contiguous with the tahr habitats in Tamil Nadu.
  24. Who, at the age of 76, recently succumbed to age-related ailments in a private hospital in Bengaluru, was a veteran politician, BJP MP, and former Union Minister?
    A) V Sreenivasa Prasad
    B) Narendra Modi
    C) Amit Shah
    D) Arun Jaitley
    E) None of the above
    View Answer
    Option A
    Explanation:

    Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died due to age-related ailments in a private Bengaluru hospital. He was 76.

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