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Banking QuizCA Quizzes (English)

Current Affairs Quiz: May 2, 2024

  1. Where was the country’s first Constitution Park, developed jointly by the Indian Army and Punit Balan Group, inaugurated?
    A) Mumbai
    B) Pune
    C) Delhi
    D) Kolkata
    E) None of the above
    View Answer
    Option B
    Explanation:

    The country’s first Constitution Park, developed jointly by the Indian Army and Punit Balan Group, was inaugurated by GOC-in-C, Southern Command, Lt Gen Ajai Kumar Singh in Pune.
  2. Which initiative was undertaken by the Systematic Voters’ Education and Electoral Participation Cell (SVEEP) of Kamrup Election District in collaboration with the Indian Institute of Technology (IIT) Guwahati?
    A) Development of an electronic voting machine
    B) Conducting voter registration drives
    C) Creating a 3D-printed dummy ballot unit
    D) Implementing voter ID card distribution
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Systematic Voters’ Education and Electoral Participation Cell (SVEEP) of Kamrup Election District along with the Indian Institute of Technology (IIT) Guwahati developed a 3D-printed dummy ballot unit to enhance voter awareness and engagement.
  3. In response to the dearness allowance reaching 50 per cent in January this year, what change did the Centre implement regarding children’s education allowance and hostel subsidy for its employees?
    A) It decreased the allowances.
    B) It eliminated the allowances.
    C) It raised the allowances.
    D) It introduced new allowances.
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Centre has increased the children’s education allowance and hostel subsidy for its employees. This change comes after the dearness allowance reached 50 per cent in January this year.
  4. Which naval vessel from the Royal Netherlands Navy participated in a Maritime Partnership Exercise with the Indian Navy’s guided missile frigate INS Trishul, as announced by the Ministry of Defence in an official statement?
    A) HNLMS De Zeven Provinciën
    B) HNLMS De Ruyter
    C) None of these
    D) HNLMS Tromp
    E) HNLMS Van Speijk
    View Answer
    Option D
    Explanation:

    The Royal Netherlands Navy Ship HNLMS Tromp engaged in a Maritime Partnership Exercise with the Indian Navy’s guided missile frigate INS Trishul, Ministry of Defence said in an official statement.
  5. What significant construction project has Dubai initiated, aiming to create the “world’s largest airport terminal,” according to an official announcement from the Dubai Government?
    A) New Terminal at Dubai International Airport
    B) Expansion of Dubai World Central Airport
    C) None of these
    D) New Terminal at Al Maktoum International Airport
    E) Redevelopment of Sharjah International Airport
    View Answer
    Option D
    Explanation:

    Dubai has started the construction for what will become the “world’s largest airport terminal”. As per an official announcement from the Dubai Government, construction work for the new terminal at Al Maktoum International Airport.
  6. In a recent report, India was ranked as the third-largest country globally for phishing attacks. Which sector in India faced nearly 33 per cent of all such attacks, making it the most targeted industry?
    A) Healthcare
    B) Finance
    C) Technology
    D) Education
    E) None of the above
    View Answer
    Option C
    Explanation:

    India ranked as the third-largest country globally for phishing attacks after the US and UK, with its technology sector facing nearly 33 per cent of all such strikes, marking it as the most targeted industry, according to a report.
  7. In recent news, Worldline ePayments India obtained authorization from the Reserve Bank of India (RBI) to function as what?
    A) Mobile wallet provider
    B) Payment gateway
    C) Online Payment Aggregator (PA)
    D) Digital currency exchange
    E) None of the above
    View Answer
    Option C
    Explanation:

    Worldline ePayments India, a player in digital payments, on Tuesday said it received authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA) under the Payment and Settlement Systems Act of 2007.
  8. In April 2024, how did the value of Unified Payments Interface (UPI) transactions compare to the record high observed in March 2024?
    A) It was 0.7% higher.
    B) It was 0.7% lower.
    C) It remained the same.
    D) It increased by 40%.
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Unified Payments Interface (UPI) saw both the number and value of transactions moderating by about 1 per cent on month from the record high seen in March 2024.
    Transactions worth ₹19.64 lakh crore were processed during April 2024, 0.7 per cent lower than the record of ₹19.78-lakh crore seen in the previous month. The value of transactions was 40 per cent higher compared with April 2023, as per data by the National Payments Corporation of India (NPCI).
  9. According to the latest data by 1Lattice, which bank held the highest market share in the Debit cards market in March 2024?
    A) Bank of Baroda
    B) Canara Bank
    C) Union Bank
    D) State Bank of India
    E) None of the above
    View Answer
    Option D
    Explanation:

    India’s largest public sector lender, the State Bank of India, remained the front runner in the Debit cards market, holding a 24 per cent share in March 2024, revealed latest data by 1Lattice.
    Top banks followed the list like Bank of Baroda which held about 10 per cent market share, followed by Canara Bank, Union Bank and HDFC Bank with approximately 6 per cent market share each and Bank of India with a 5 per cent market share.
  10. Where did American Express recently inaugurate its expansive nearly one-million-square-feet campus?
    A) Mumbai, Maharashtra
    B) Bangalore, Karnataka
    C) Gurugram, Haryana
    D) None of the above
    E) Chennai, Tamil Nadu
    View Answer
    Option C
    Explanation:

    American Express, a global payments company, has announced the inauguration of its expansive, nearly one-million-square-foot campus in Gurugram, Haryana. The new campus will serve as a hub for American Express operations in India and will be the largest campus opened by the company to date.
  11. With which entity has NPCI International Payments Limited (NIPL) signed an agreement to support the development of an instant payment system similar to India’s Unified Payment Interface (UPI) for Namibia?
    A) Reserve Bank of India (RBI)
    B) Bank of Namibia (BoN)
    C) South African Reserve Bank (SARB)
    D) Central Bank of India (CBI)
    E) None of the above
    View Answer
    Option B
    Explanation:

    NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) to support them in developing an instant payment system like Unified Payment Interface (UPI) for Namibia. By leveraging technology and experiences from India’s UPI, the partnership seeks to help Namibia modernize its financial ecosystem.
  12. What regulatory approval has Groww Pay, the UPI payments platform of broking firm Groww, received from the Reserve Bank of India (RBI)?
    A) Authorization to issue credit cards.
    B) Permission to operate as a Payments Aggregator (PA).
    C) License to provide insurance services.
    D) Approval to offer investment advisory services.
    E) None of the above
    View Answer
    Option B
    Explanation:

    Groww Pay, the UPI payments platform of broking firm Groww, has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA).
  13. Who has projected that economic growth in the Asia Pacific region will slow from 5 percent in 2023 to 4.5 percent in 2024?
    A) The World Bank
    B) The United Nations
    C) The International Monetary Fund (IMF)
    D) The Asian Development Bank (ADB)
    E) None of the above
    View Answer
    Option C
    Explanation:

    Economic growth in the Asia Pacific region is better than previously projected but is expected to slow from 5 per cent in 2023 to 4.5 per cent in 2024, according to IMF’s Regional Economic Outlook for Asia and Pacific.
  14. How much does Indian Oil Corp (IOCL) plan to invest in building 1 gigawatt (GW) of renewable energy capacity?
    A) Rs 1,000 crore
    B) Rs 5,215 crore
    C) Rs 10,000 crore
    D) Rs 3,000 crore
    E) Rs 5,000 crore
    View Answer
    Option B
    Explanation:

    Indian Oil Corp (IOCL) plans to invest Rs 5,215 crore in building 1 gigawatt (GW) of renewable energy capacity including standalone ground mounted solar projects or standalone onshore wind or wind-solar hybrid projects.
  15. What was the rate of growth of India’s core sector in March, according to government data?
    A) 5.2%
    B) 8.5%
    C) 4.0%
    D) 6.8%
    E) None of the above
    View Answer
    Option A
    Explanation:

    India’s core sector growth eased to 5.2% in March, after five of eight industries experienced a slowdown in March, according to government data released.
  16. What specific measure is the Securities & Exchange Board of India (SEBI) mandating for Asset Management Companies (AMCs) to deter potential market abuse, including front-running?
    A) Implementing stricter compliance protocols
    B) Hiring additional market surveillance personnel
    C) Establishing an institutional mechanism
    D) Conducting regular audits of trading activities
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Securities & Exchange Board of India (SEBI) is making it mandatory for Asset Management Companies (AMCs) to have an institutional mechanism for deterrence of potential market abuse, including front-running.
  17. Despite a slowdown in output growth, what was the trend observed in the manufacturing-related Purchasing Managers’ Index (PMI) for April, and what was the accompanying observation regarding job creation?
    A) The PMI decreased to 58.8, and job creation was moderate.
    B) The PMI increased to 59.1, and job creation was good.
    C) The PMI decreased to 59.1, and job creation was moderate.
    D) The PMI decreased to 58.8, and job creation was good.
    E) None of the above
    View Answer
    Option D
    Explanation:

    As the output growth slowed, manufacturing-related Purchasing Managers’ Index (PMI) dropped to 58.8 in April as against 59.1 in March. However, the good news is that job creation was good.
  18. Who recently became the third Indian female Grandmaster after being awarded the title by FIDE, the International Chess Federation?
    A) Tania Sachdev
    B) Mary Ann Gomes
    C) Vaishali Ramesh Babu
    D) Padmini Rout
    E) Harika Dronavalli
    View Answer
    Option C
    Explanation:

    Indian Chess Prodigy, Vaishali Ramesh Babu, has officially been awarded the title of Grandmaster by FIDE, the International Chess Federation. This remarkable achievement makes Vaishali the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
  19. Who has received approval from the Corporate Affairs Ministry (MCA) for the position of Managing Director and CEO of Jio Financial Services for a three-year term starting from November 15, 2023?
    A) Hitesh Kumar Sethia
    B)Priya Singhania
    C) Rajesh Sharma
    D) Anjali Patel
    E) None
    View Answer
    Option A
    Explanation:

    The Corporate Affairs Ministry (MCA) has given its nod for appointment of Hitesh Kumar Sethia as Managing Director and CEO of Jio Financial Services for three years period from November 15,2023.
  20. Who has recently resigned from the position of joint Managing Director at Kotak Mahindra Bank and is expected to join Federal Bank, as per reports?
    A) Uday Kotak
    B) KVS Manian
    C) Aditya Puri
    D) Shikha Sharma
    E) None of the above
    View Answer
    Option B
    Explanation:

    KVS Manian, joint MD at Kotak Mahindra Bank, has stepped down from his position with immediate effect, the bank informed the exchanges. He is now likely to join Federal Bank, according to reports.
  21. Who recently assumed the position of Director General of Akashvani News?
    A) Maushumi Chakravarty
    B) Uday Kotak
    C) Aditya Puri
    D) Shikha Sharma
    E) None of the above
    View Answer
    Option A
    Explanation:

    Senior Indian Information Service officer, Maushumi Chakravarty assumed the charge of Director General of Akashvani News.
  22. Who was honored by the Vice President of India, Jagdeep Dhankar, for her ‘Outstanding Contribution to the cause of Corporate Social Responsibility’?
    A) Nita Ambani
    B) Priya Patel
    C) Dr. Bina Modi
    D) Anjali Sharma
    E) Neeta Gupta
    View Answer
    Option C
    Explanation:

    Dr. Bina Modi, Chairperson and Managing Director of Modi Enterprises – KK Modi Group, was honoured by the esteemed Vice President of India, Jagdeep Dhankar, for her ‘Outstanding Contribution to the cause of Corporate Social Responsibility’.
  23. Who has been honored with the prestigious Goldman Environmental Prize for his efforts and exemplary community campaign in safeguarding the forests in Chhattisgarh?
    A) Alok Shukla
    B) Amitabh Bachchan
    C) Narendra Modi
    D) Sundar Pichai
    E) None of the above
    View Answer
    Option A
    Explanation:

    Chhattisgarh-based environment and forest activist Alok Shukla has been honoured with the prestigious Goldman Environmental Prize for his efforts and exemplary community campaign in safeguarding the forests in the mineral-rich state.
  24. Which report, released recently, reveals that Indian bird species, particularly carnivores, insectivores, and granivores, are declining at a faster rate than omnivores and nectar eaters?
    A) State of India’s Wildlife Report 2023
    B) State of India’s Forests Report 2023
    C) State of India’s Birds Report 2023
    D) State of India’s Biodiversity Report 2023
    E) None of the above
    View Answer
    Option C
    Explanation:

    Indian bird species, particularly carnivores, insectivores, and granivores, are declining at a faster rate than omnivores and nectar eaters, indicating the impact of diet on the avian population, reveals the State of India’s Birds Report 2023, released recently.

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