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Banking QuizCA Quizzes (English)

Current Affairs Quiz: May 10, 2024

  1. Which organization recently forged a strategic partnership with the Indian Chamber of Commerce (ICC) to enhance economic and trade relations between the UAE and India?
    A) United Nations Development Programme (UNDP)
    B) World Trade Organization (WTO)
    C) The UAE-India CEPA Council (UICC)
    D) International Monetary Fund (IMF)
    E) None of the above
    View Answer
    Option C
    Explanation:

    The UAE-India CEPA Council (UICC) signed a Memorandum of Understanding (MoU) with the Indian Chamber of Commerce (ICC), commencing a strategic partnership to bolster economic and trade ties between the UAE and India.
  2. Which initiative has the Indira Gandhi Medical College and Research Institute (IGMCRI) recently undertaken to address the increasing need for pain relief among patients in advanced stages of various medical conditions?
    A) Establishment of a new research facility
    B) Launch of a palliative care clinic
    C) Introduction of a wellness program
    D) Implementation of a fitness center
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Indira Gandhi Medical College and Research Institute (IGMCRI) has launched a palliative care clinic to absorb a part of the burgeoning demand for pain relief in patients in an advanced stage of a variety of debilitating medical conditions.
  3. In the context of ongoing forest fires in Uttarakhand, which recent action by the Indian Air Force demonstrates the effectiveness of aerial firefighting operations in challenging terrains near Nainital?
    A) Deployment of ground-based firefighting teams
    B) Introduction of new legislation to address forest fire prevention
    C) Utilization of a Mi-17 V5 helicopter equipped with a Bambi Bucket
    D) Establishment of emergency shelters for affected wildlife
    E) None of the above
    View Answer
    Option C
    Explanation:

    Despite the Uttarakhand government’s submission to the Supreme Court that the emergency situation regarding forest fires is now over, the State Forest department reported 40 fresh cases of fire. This contradictory situation highlights the ongoing challenges faced in controlling the raging wildfires in the region.
    The Indian Air Force recently utilized its Mi-17 V5 helicopter equipped with a Bambi Bucket to combat forest fires near Nainital, showcasing the versatility and effectiveness of aerial firefighting operations in challenging terrains.
  4. What action has India recently taken to demonstrate its dedication to supporting multilateral efforts in combating terrorism on a global scale?
    A) Pledging $500,000 to the United Nations Counter-Terrorism Trust Fund
    B) Establishing a national task force to combat terrorism
    C) Hosting an international summit on counter-terrorism
    D) Signing a bilateral agreement with neighboring countries to combat terrorism
    E) None of the above
    View Answer
    Option A
    Explanation:

    India has contributed $500,000 to the U.N. Counter-Terrorism Trust Fund, underscoring its unwavering commitment to support multilateral efforts in the global fight against the scourge of terrorism.
  5. South Indian Bank recently solidified a strategic partnership with which financial institution by signing a Memorandum of Understanding (MOU), emphasizing their commitment to a mutually beneficial alliance?
    A) HDFC Bank
    B) State Bank of India (SBI)
    C) Indian Banks’ Association (IBA)
    D) Northern Arc Capital
    E) Axis Bank
    View Answer
    Option D
    Explanation:

    South Indian Bank has entered into an alliance with Northern Arc Capital. This association has been formalized through the signing of a Memorandum of Understanding (MOU) underscoring the commitment of both institutions to a mutually beneficial partnership.
  6. According to recent guidelines issued by the National Payments Corporation of India (NPCI), which entity is responsible for verifying merchant details for BHIM Aadhaar Pay?
    A) Government of India
    B) Individual merchants themselves
    C) NPCI directly
    D) Acquiring member banks
    E) None of the above
    View Answer
    Option D
    Explanation:

    The National Payments Corporation of India (NPCI), in a circular, has issued guidelines that put the onus of verifying merchant details on acquiring banks for BHIM Aadhaar Pay. “The obligation to acquire, manage, and monitor merchants for BHIM Aadhaar Pay rests with acquiring member banks. Acquiring member banks shall continue to be responsible for merchants onboarded by them directly or through aggregators/partners,” said NPCI in the circular.
  7. Which fintech company has partnered with Yes Bank to facilitate cross-border e-commerce payments from India?
    A) Paytm
    B) Razorpay
    C) Ebanx
    D) PhonePe
    E) None of the above
    View Answer
    Option C
    Explanation:

    Yes Bank has partnered with Ebanx – a fintech focused on cross-border e-commerce payments to enable payments from India.
  8. ICICI Bank has introduced a new feature allowing NRI customers to utilize what to make instant UPI payments in India?
    A) Email address
    B) Passport number
    C) International mobile number
    D) Social security number
    E) None of the above
    View Answer
    Option C
    Explanation:

    ICICI Bank announced that it has enabled NRI customers to use their international mobile number to make UPI payments instantly in India, thereby significantly enhancing their convenience of making everyday payments.
  9. Investments through participatory notes (P-notes) in the Indian capital markets surged to what amount at the end of February, marking the highest level in nearly six years?
    A) Rs 1.0 lakh crore
    B) Rs 1.2 lakh crore
    C) Rs 1.5 lakh crore
    D) Rs 1.8 lakh crore
    E) Rs 2.5 lakh crore
    View Answer
    Option C
    Explanation:

    Investments through participatory notes (P-notes) in the Indian capital markets reached Rs 1.5 lakh crore at the end of February, making it the highest-level in nearly six years, driven by a strong performance of the domestic economy.
  10. What new feature has been introduced by L&T Finance Ltd (LTF) in their ‘The Complete Home Loan’ offering, besides a digitized process and a dedicated relationship manager?
    A) Educational loan assistance
    B) Investment advisory services
    C) Optional home décor finance
    D) Health insurance coverage
    E) None of the above
    View Answer
    Option C
    Explanation:

    L&T Finance Ltd (LTF) has launched ‘The Complete Home Loan’, offered through a digitised process, along with a dedicated relationship manager and optional home décor finance.
  11. What functionality does the newly launched Google Wallet app in India primarily focus on, according to the announcement by Google?
    A) Saving credit cards and debit cards for on-tap payments
    B) Providing investment management services
    C) Storing travel tickets, gift cards, and event passes
    D) None of these
    E) Offering peer-to-peer money transfer services
    View Answer
    Option C
    Explanation:

    Tech giant Google announced the launch of the Google Wallet app in India, enabling users to save their travel tickets, gift cards and event passes in one place. It however does not support payment features such as saving credit cards or debit cards in the wallet for on-tap payments.
  12. Bajaj Auto, a prominent manufacturer of two- and three-wheelers in India, is gearing up to introduce what groundbreaking innovation in the motorcycle industry, as announced by the company’s Managing Director, Rajiv Bajaj?
    A) Electric motorcycle with AI integration
    B) Hydrogen fuel cell-powered motorcycle
    C) World’s first compressed natural gas (CNG) motorcycle
    D) Solar-powered motorcycle with regenerative braking
    E) None of the above
    View Answer
    Option C
    Explanation:

    India’s two- and three-wheeler major Bajaj Auto is set to launch the world’s first compressed natural gas (CNG) motorcycle on June 18, 2024, as revealed by the company’s Managing Director, Rajiv Bajaj.
  13. According to the report by Accel, Fireside Ventures, and Redseer Strategy Consultants, what is the projected value of India’s retail market by 2030?
    A) $1.5 trillion
    B) $2.2 trillion
    C) $3.0 trillion
    D) $2.5 trillion
    E) None of the above
    View Answer
    Option B
    Explanation:

    India’s retail market is poised to cross $2.2 trillion by 2030, with approximately 90% of sales expected to occur offline, according to the report by Accel, Fireside Ventures and Redseer Strategy Consultants. The report also finds that a substantial portion of all purchases are to be influenced by what consumers see online across categories.
  14. According to a report by the economic think tank GTRI, what was the trend in India’s toy exports for the financial year 2023-24, and how did it fare compared to the previous year?
    A) Toy exports increased by 1.5% compared to the previous year.
    B) Toy exports decreased marginally from USD 153.89 million to USD 152.34 million.
    C) Toy exports remained stagnant at USD 153.89 million.
    D) Toy exports experienced a significant decline to USD 152.34 million from USD 153.89 million.
    E) None of the above
    View Answer
    Option B
    Explanation:

    India’s toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI. The Global Trade Research Initiative (GTRI) said that India’s toy exports did not benefit much from the mandatory quality control orders.
  15. According to the Global Electricity Review 2024 by Ember, what milestone did India achieve in 2023 in terms of solar power generation, and what additional resource was unveiled alongside this report?
    A) India became the world’s third-largest solar power generator, alongside the release of a detailed analysis of global energy consumption.
    B) India exceeded Japan in solar power generation, alongside the release of an open dataset on electricity generation covering 80 countries.
    C) India emerged as a leader in wind power generation, alongside the release of a comprehensive dataset on electricity generation.
    D) India surpassed China in solar power generation, alongside the release of an open dataset on electricity generation covering 80 countries.
    E) None of the above
    View Answer
    Option B
    Explanation:

    India has overtaken Japan to become the world’s third-largest solar power generator in 2023, according to a report by the global energy think tank, Ember.
    The Global Electricity Review 2024, released, offers a detailed analysis of power generation systems worldwide in 2023. It was published alongside the world’s first open dataset on electricity generation in 2023, covering 80 countries representing 92% of global electricity demand.
  16. Indian Renewable Energy Development Agency Ltd. (IREDA) has recently established a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat. What is the name of this newly incorporated subsidiary?
    A) IREDA Financial Services IFSC Ltd.
    B) IREDA Green Energy IFSC Pvt. Ltd.
    C) IREDA Global Green Energy Finance IFSC Limited
    D) IREDA Renewable Energy Services IFSC Pvt. Ltd.
    E) None of the above
    View Answer
    Option C
    Explanation:

    Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.
    IREDA Global Green Energy Finance IFSC Limited was officially incorporated, after receiving the no objection letter from the Reserve Bank of India (RBI) in February 2024, to set up the finance company in IFSC GIFT City, IREDA said.
  17. What recent announcement did Zee Media Corporation Ltd make regarding its CEO, Abhay Ojha, effective May 4, 2024?
    A) Abhay Ojha was appointed as the new CEO.
    B) Abhay Ojha resigned from his position.
    C) Abhay Ojha’s contract was extended.
    D) Abhay Ojha was terminated from his position as CEO.
    E) None of the above
    View Answer
    Option D
    Explanation:

    Zee Media Corporation Ltd said its CEO Abhay Ojha has been terminated with effect from May 4, 2024.
  18. Who has recently been appointed as the Country Manager for India by Visa, effective immediately, as part of its commitment to India’s growing digital payments landscape?
    A) Sujai Raina
    B) Rajesh Sharma
    C) Ananya Patel
    D) Rahul Kapoor
    E) None of the above
    View Answer
    Option A
    Explanation:

    Visa recently announced a leadership change in India, underscoring its dedication to the country’s booming digital payments landscape. Sujai Raina has been named Country Manager for India, effective immediately.
  19. At the Civil Investiture Ceremony-II held at the Rashtrapati Bhawan, how many Padma Vibhushan, Padma Bhushan, and Padma Shri Awards were presented by the President of India, Smt. Droupadi Murmu, for the year 2024?
    A) 5 Padma Vibhushan, 10 Padma Bhushan, and 60 Padma Shri Awards
    B) 2 Padma Vibhushan, 9 Padma Bhushan, and 56 Padma Shri Awards
    C) 3 Padma Vibhushan, 8 Padma Bhushan, and 50 Padma Shri Awards
    D) 4 Padma Vibhushan, 11 Padma Bhushan, and 55 Padma Shri Awards
    E) None of the above
    View Answer
    Option B
    Explanation:

    The President of India, Smt. Droupadi Murmu presented 2 Padma Vibhushan, 9 Padma Bhushan and 56 Padma Shri Awards for the year 2024 at the Civil Investiture Ceremony-II held with grandeur in Darbar Hall of the Rashtrapati Bhawa.
  20. What recent development has Google DeepMind announced in the field of artificial intelligence, and what is the primary purpose of this new version of their model?
    A) Unveiling of the third major version of “AlphaFold,” an AI model designed to predict the structure and interactions of all life’s molecules, including proteins and DNA.
    B) Launching of “BetaFold,” an AI model focused on generating 3D models of proteins.
    C) Introduction of “GammaFold,” an AI model tailored for predicting RNA structures.
    D) None of these
    E) Release of “DeltaFold,” an AI model designed for predicting the structure of inorganic molecules.
    View Answer
    Option A
    Explanation:

    Google Deepmind has unveiled the third major version of its “AlphaFold” artificial intelligence model, designed to help scientists design drugs and target disease more effectively. This artificial intelligence model can predict the structure and interactions of all life’s molecules, including proteins and DNA.
  21. Where was the recent discovery of the world’s deepest blue hole made, capturing the attention of geologists, marine biologists, and adventurers?
    A) South China Sea
    B) Caribbean Sea
    C) Chetumal Bay, Mexico
    D) Indian Ocean
    E) None of the above
    View Answer
    Option C
    Explanation:

    The discovery of the world’s deepest blue hole in Mexico’s Chetumal Bay has captivated the attention of geologists, marine biologists, and adventurers alike. This underwater sinkhole, known as the Taam Ja’ Blue Hole, plunges at least 1,380 feet (420 meters) below sea level, surpassing the previous record holder, the Dragon Hole in the South China Sea.
  22. Where did the world’s largest facility for removing carbon dioxide from the atmosphere, named “Mammoth,” commence operations?
    A) Norway
    B) Switzerland
    C) Iceland
    D) None of these
    E) Canada
    View Answer
    Option C
    Explanation:

    The world’s largest facility designed to remove carbon dioxide from the atmosphere started operations in Iceland. Dubbed “Mammoth,” this plant is Climeworks’ second commercial direct air capture (DAC) facility in the nation and is significantly larger than its predecessor, Orca, which began in 2021.
  23. Which institution’s researchers recently discovered a new species of marine tardigrade, commonly referred to as water bears?
    A) Harvard University
    B) University of Cambridge
    C) Stanford University
    D) Cochin University of Science and Technology (CUSAT)
    E) Massachusetts Institute of Technology (MIT)
    View Answer
    Option D
    Explanation:

    Researchers from the Department of Marine Biology, Cochin University of Science and Technology (CUSAT) have discovered a new species of marine tardigrade, colloquially known as water bears – a phylum of eight-legged segmented micro-animals.
  24. Who recently passed away at the age of 83 in Navi Mumbai, after battling a prolonged illness, and was known for their contributions to Urdu literature, including being a recipient of the Sahitya Akademi award?
    A) Abdul Rahman Khan
    B) Fatima Begum
    C) None of these
    D) Ahmed Ali
    E) Salam Bin Razzaq
    View Answer
    Option E
    Explanation:

    Sahitya Akademi award-winning Urdu litterateur Salam Bin Razzaq passes away at 83 in Navi Mumbai after a prolonged illness.
  25. Which popular film director, known for making Malayalam and Hindi films, recently passed away at the age of 61 in Mumbai, after being unwell for some time?
    A) Sangeeth Sivan
    B) Priyadarshan
    C) Adoor Gopalakrishnan
    D) Mani Ratnam
    E) None of the above
    View Answer
    Option A
    Explanation:

    Popular film director Sangeeth Sivan (61), who made Malayalam and Hindi films and was unwell for some time, passed away at a private hospital in Mumbai.

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