Current Affairs Quiz: May 23, 2024

May 23, 2024 CA Team

What was the approximate average price per share at which HDFC Bank sold its stake in Protean eGov Technologies?
A) Rs 1,100.50
B) Rs 1,120.75
C) Rs 1,160.15
D) Rs 1,180.90
E) None of the above

View Answer
Option C
Explanation:
Private sector lender HDFC Bank sold its entire 3.20 per cent stake in Protean eGov Technologies for Rs 150 crore through an open market transaction. According to the bulk deal data available with the BSE, HDFC Bank sold 12,94,326 shares, amounting to a 3.20 per cent stake in Protean eGov Technologies.The shares were offloaded at an average price of Rs 1,160.15 apiece, taking the transaction value to Rs 150.16 crore.
What is the primary purpose of NMDC’s newly launched Vendor Invoice Management and Self-Service Portal?
A) To increase the company’s profits
B) To streamline the procurement life cycle and enhance transparency
C) To reduce the number of vendors
D) To promote NMDC’s corporate social responsibility activities
E) None of the above

View Answer
Option B
Explanation:
Steel Secretary Nagendra Nath Sinha launched NMDC’s Vendor Invoice Management and Self-Service Portal at the company’s Corporate Office in Hyderabad. The facility has been set up to provide a seamless interface for the vendors to engage with the company, towards streamlining the procurement life cycle and to enhance transparency and business harmony.
What new role will Klaus Schwab assume at the World Economic Forum (WEF) by next January?
A) CEO
B) Executive chairman
C) Chairman of the Board of Trustees
D) Chief Operating Officer
E) President

View Answer
Option C
Explanation:
Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), will step back from his current role and become chairman of the board of trustees by next January, the organization said.
What percentage of outsourced government contract jobs has the Karnataka state government reserved for women?
A) 25%
B) 30%
C) 27%
D) 33%
E) 35%

View Answer
Option D
Explanation:
Karnataka staye government issued an order mandating reservations for outsourced govt contract jobs across all its departments, with 33% of these posts reserved for women.
Who has been appointed as the Vice-Chairman of the International Aluminium Institute (IAI)?
A) Klaus Schwab
B) Sumit Deb
C) Nagendra Nath Sinha
D) John Slaven
E) None of the above

View Answer
Option D
Explanation:
Vedanta Aluminium has announced the appointment of its CEO, John Slaven, as Vice-Chairman of the International Aluminium Institute (IAI).
In the World Economic Forum’s Travel & Tourism Development Index 2024, which country topped the list, while India climbed to the 39th position?
A) India
B) Spain
C) Japan
D) United States
E) None of the above

View Answer
Option D
Explanation:
India has climbed to the 39th position in the World Economic Forum’s Travel & Tourism Development Index 2024, while US topped the list. India also ranks the highest in South Asia among the lower-middle-income economies. Earlier, India was ranked 54th in 2021 published index.
Which finance company has partnered with Tata Motors’ passenger vehicles and passenger electric mobility subsidiaries to provide financing to their dealers?
A) Muthoot Finance
B) Aditya Birla Capital
C) Bajaj Finance
D) Indiabulls Housing Finance
E) L&T Finance

View Answer
Option C
Explanation:
Tata Motors said its passenger vehicles and passenger electric mobility subsidiaries have tied up with Bajaj Finance for providing supply chain finance solutions to their respective dealers.
What is the estimated percentage of net financial savings as a proportion of GDP for FY24 according to Goldman Sachs?
A) 4.5%
B) 5.1%
C) 6.0%
D) 6.6%
E) 5.6%

View Answer
Option C
Explanation:
A faster increase in household deposit growth likely pushed net financial savings to 6% of GDP in FY24 from 5.1% in the previous year, Goldman Sachs said in a report.
How much dividend will the Reserve Bank of India (RBI) pay to the government for the fiscal year ending March 31?
A) Rs 1.05 lakh crore
B) Rs 1.50 lakh crore
C) Rs 2.01 lakh crore
D) Rs 2.11 lakh crore
E) None of the above

View Answer
Option D
Explanation:
The Reserve Bank of India(RBI) will pay a record Rs 2.1 lakh crore dividend to the government for the fiscal ended March 31, more than double of what was budgeted expectation, helping shore up revenue ahead of a new government taking office. The RBI board approved the transfer of surplus, the central bank said.
At the ATD BEST Awards 2024, NTPC (National Thermal Power Corporation), a public sector company, achieved global recognition by securing the third position in which category?
A) Innovation
B) Sustainability
C) Talent Development
D) Leadership
E) None of the above

View Answer
Option C
Explanation:
The public sector company NTPC(National Thermal Power Corporation), was awarded the third rank in the world for the Talent Development category at the ATD BEST Awards 2024.
What license has Mahindra & Mahindra Financial Services received from the insurance regulator IRDAI?
A) Brokerage license
B) Corporate agency license
C) Underwriting license
D) Reinsurance license
E) None of the above

View Answer
Option B
Explanation:
Mahindra & Mahindra Financial Services said it has received corporate agency licence from insurance regulator IRDAI, which will enable it to sell life and general insurance policies offered by various insurers. The registration shall be valid from May 21, 2024 to May 20, 2027.
What is one of the key aspects of the new corporate governance regulations introduced by IRDAI for insurers?
A) Allowing conflicts of interest in key management positions
B) Mandating a single individual to hold both business and control functions
C) Requiring prior approval for the appointment of Board Chairperson
D) Permitting Chairpersons to hold multiple control positions
E) None of the above

View Answer
Option C
Explanation:
The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurance companies to seek prior approval for the appointment of their Board Chairperson, effective immediately. Existing Chairperson have been given until March 31, 2026, or the end of their current terms, whichever comes first, to comply with the new regulations.
How many times has POWERGRID received the ATD Best Awards for its Learning & Development initiatives?
A) Two
B) Three
C) Four
D) Five
E) None of the above

View Answer
Option B
Explanation:
Power Grid Corporation of India Limited (POWERGRID), a Maharatna Central Public Sector Enterprise under the Ministry of Power, Government of India, has been conferred the prestigious ATD BEST Awards 2024 for its strategic approach to talent development driving business results.
What was the main focus of Exercise Cyber Suraksha – 2024, which CDS Gen Anil Chauhan attended?
A) Enhancing nuclear capabilities
B) Strengthening cyber defence capabilities
C) Improving air force strategies
D) Expanding naval operations
E) None of the above

View Answer
Option B
Explanation:
Chief of Defence Staff (CDS) Gen Anil Chauhan attended ‘Exercise Cyber Suraksha – 2024’, and underscored the importance of strengthening India’s cyber defence capabilities.
Which AI platform has Swiggy recently partnered with to enhance its capabilities in identifying and preventing fraudulent activities?
A) PALANTIR
B) DARKTRACE
C) None of these
D) SHIELD
E) FORTINET

View Answer
Option D
Explanation:
Swiggy has recently collaborated with SHIELD, an AI platform prioritizing device-first risk assessment, to enhance its capabilities in identifying and preventing fraudulent activities.

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