Tuesday, May 28, 2024
Banking QuizCA Quizzes (English)

Current Affairs Quiz: May 4, 2024

  1. What is the purpose of the Memorandum of Understanding (MoU) signed between Girish Chandra Murmu, the Comptroller and Auditor General of India (CAG), and Toyam Raya, Auditor General of Nepal?
    A) Enhance collaboration in auditing between India and Nepal
    B) Facilitate trade agreements between India and Nepal
    C) Strengthen military cooperation between India and Nepal
    D) To facilitate collaboration in the field of education and research.
    E) To establish a framework for cultural exchange between India and Nepal.
    View Answer
    Option A
    Explanation:

    Girish Chandra Murmu, the Comptroller and Auditor General of India (CAG), has signed a Memorandum of Understanding (MoU) with Toyam Raya, Auditor General of Nepal.The agreement aims to enhance collaboration and exchange of expertise in the field of auditing between the two countries’ Supreme Audit Institutions (SAIs).
  2. What collaborative initiative has the Council of Scientific and Industrial Research (CSIR) – Advanced Materials and Processes Research Institute (AMPRI) undertaken along with the Knowledge and Awareness Mapping Platform (KAMP)?
    A) Joint research on renewable energy sources
    B) Organization of a scientific conference on climate change
    C) Conducting Scientific Excursion at Bhopal, Madhya Pradesh
    D) Establishment of a new industrial park in collaboration with local authorities
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Council of Scientific and Industrial Research (CSIR) – Advanced Materials and Processes Research Institute (AMPRI), in collaboration with the Knowledge and Awareness Mapping Platform (KAMP), conducts Scientific Excursion at Bhopal, Madhya Pradesh.
  3. What is the primary objective of the Indian Space Situational Assessment Report (ISSAR) released by the Indian Space Research Organisation (ISRO) for 2023?
    A) To evaluate the financial viability of space missions undertaken by ISRO.
    B) To assess the feasibility of establishing human colonies on other celestial bodies.
    C) To analyze the vulnerability of space assets to environmental hazards such as asteroids, comets, and artificial objects.
    D) To determine the potential for extraterrestrial resource extraction in the coming years.
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Indian Space Research Organisation (ISRO) has indeed released the Indian Space Situational Assessment Report (ISSAR) for 2023. This report assesses the vulnerability of space assets to various environmental hazards such as asteroids, comets, and artificial objects, with the aim of ensuring safe and sustainable space operations.
  4. In the latest annual World Press Freedom Index released by Reporters Without Borders (RSF), what was India’s ranking among 180 countries?
    A) 159
    B) 160
    C) 161
    D) 158
    E) 169
    View Answer
    Option A
    Explanation:

    India ranked 159 among 180 countries in the latest annual World Press Freedom Index released by Reporters Without Borders (RSF, short for Reporters sans frontières in French), an international non-profit organization. India had ranked 161 in the 2023 list.
    Meanwhile, Pakistan ranked seven spots above India at 152. It had ranked 150 in 2023. Norway topped the ranking , while Denmark was on the second rank in World Press Freedom Index. Sweden ranked third on the list.
  5. Which region will benefit from the replenishment of the Asian Development Fund (ADF) with USD 5 billion?
    A) Europe
    B) Africa
    C) Asia Pacific
    D) North America
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Asian Development Fund (ADF) will be replenished with USD 5 billion to support most vulnerable sections in the Asia Pacific region.
  6. What recent action has the Reserve Bank of India (RBI) taken regarding banks’ exposure to the capital markets?
    A) Issued directives on agricultural loans.
    B) Released a report on cybersecurity measures.
    C) Provided recommendations on interest rate policies.
    D) Issued directives on Issue of Irrevocable Payment Commitments (IPCs)”.
    E) None of the above
    View Answer
    Option D
    Explanation:

    The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the capital markets, emphasizing compliance with prescribed guidelines. The latest circular, pertains specifically to the “Banks’ Exposure to Capital Market – Issue of Irrevocable Payment Commitments (IPCs)”.
  7. What action has the Reserve Bank of India (RBI) taken against The Satara Sahakari Bank Limited, Mumbai, Maharashtra?
    A) Imposed a fine of Rs 1 lakh for violating foreign exchange regulations.
    B) Issued a warning for non-compliance with income tax regulations.
    C) Imposed a monetary penalty of Rs 2 lakh for non-compliance with certain provisions of the Banking Regulation Act, 1949 (BR Act) and RBI directions.
    D) Initiated legal proceedings for violation of environmental regulations.
    E) None of the above
    View Answer
    Option C
    Explanation:

    The Reserve Bank of India (RBI) has taken stringent action against The Satara Sahakari Bank Limited, Mumbai, Maharashtra, by imposing a monetary penalty of Rs 2 lakh for non-compliance with certain provisions of the Banking Regulation Act, 1949 (BR Act) and RBI directions on ‘Prudential Norms on Capital Adequacy – Primary (Urban) Co-operative Banks (UCBs)’.
  8. What is the focus of HDFC Life’s latest campaign, ‘No Jhanjhat Life Insurance Fatafat’?
    A) Promoting long-term investment plans for retirement.
    B) Offering discounted premiums for existing policyholders.
    C) Providing a seamless and swift life insurance purchasing experience.
    D) Advocating for health and wellness through insurance policies.
    E) None of the above
    View Answer
    Option C
    Explanation:

    HDFC Life, a leading insurer in India, has unveiled its latest campaign, ‘No Jhanjhat Life Insurance Fatafat’. This campaign promises a seamless and swift life insurance purchasing experience, tailored for today’s fast-paced world.
  9. A) Surpassed Rs 10 lakh crore mark
    B) Crossed Rs 5 lakh crore mark
    C) Achieved Rs 2 lakh crore mark
    D) None of these
    E) Exceeded Rs 8 lakh crore mark
    View Answer
    Option E
    Explanation:

    The market capitalisation (m-cap) of ICICI Bank Ltd’s, India’s second-largest private lender, surged past Rs 8 lakh crore mark after its shares rallied over 4 per cent to a fresh 52-week high of Rs 1,155.65 on the NSE.
  10. What recent approval has been granted to Bengaluru-based fintech startup Cred by the Reserve Bank of India (RBI)?
    A) Permission to operate as a non-banking financial company (NBFC)
    B) Authorization to issue its own digital currency
    C) License to offer microfinance services
    D) In-principle approval to venture into the payment aggregation (PA) business
    E) None of the above
    View Answer
    Option D
    Explanation:

    Bengaluru-based fintech startup Cred has received in-principle approval from the Reserve Bank of India (RBI) to venture into the payment aggregation (PA) business. This approval allows Cred to intensify its presence in the merchant payments domain, positioning itself alongside industry players like Razorpay and Cashfree.
  11. Where does Micron India intend to launch the first set of packaged chips?
    A) Bangalore, Karnataka
    B) Chennai, Tamil Nadu
    C) Sanand, Gujarat
    D) Mumbai, Maharashtra
    E) None of the above
    View Answer
    Option C
    Explanation:

    Micron India hopes to roll out the first batch of chips packaged at its Sanand unit in Gujarat early next year and most of these semiconductor chips will be for exports, the company’s India managing director Anand Ramamoorthy said.
  12. What is the target corpus of the maiden VC fund launched by former BharatPe COO Dhruv Dhanraj Bahl?
    A) ₹240 crore
    B) ₹60 crore
    C) ₹120 crore
    D) ₹180 crore
    E) ₹140 crore
    View Answer
    Option C
    Explanation:

    Former BharatPe COO Dhruv Dhanraj Bahl has launched his maiden VC fund, Eternal Capital, with a target corpus of ₹120 crore. The fund also includes a green-shoe option of another ₹120 crore, bringing its total capacity to ₹240 crore.
  13. What recent initiative has been announced by startup incubator T-Hub to bolster the domestic defense and aerospace sector?
    A) Launch of a new mentorship program
    B) Establishment of a research institute
    C) Introduction of a funding program in collaboration with SIDBI
    D) Formation of a skill development center
    E) None of the above
    View Answer
    Option C
    Explanation:

    Startup incubator T-Hub announced a significant boost for the domestic defense and aerospace sector with the launch of the SIDBI-T-Hub Funding Programme and the signing of several strategic memorandums of understanding (MoUs) with prominent industry players.
  14. What are the revised growth forecasts for India according to the Organisation for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF)?
    A) OECD: 7.8%, IMF: 6.6%
    B) OECD: 6.6%, IMF: 7.8%
    C) OECD: 7.6%, IMF: 6.4%
    D) OECD: 6.4%, IMF: 7.6%
    E) None of the above
    View Answer
    Option B
    Explanation:

    The Organisation for Economic Co-operation and Development (OECD) raised its growth forecast for India by 40 basis points to 6.6 per cent for 2024-25, holding that buoyant public investment and improved business confidence are expected to propel India’s gross domestic product (GDP) growth.
    Additionally, the IMF has raised its outlook for India’s FY24 growth to 7.8%, surpassing the government’s estimate of 7.6%. The IMF report highlighted that “India and the Philippines have been the source of repeated positive growth surprises, supported by resilient domestic demand.”
  15. Which organizations have recently gone live with C2FO’s platform to address liquidity challenges faced by MSMEs?
    A) HDFC Bank and Tata Group
    B) State Bank of India and Dabur India
    C) ICICI Bank and Reliance Industries
    D) Axis Bank and Hindustan Unilever Limited
    E) None of the above
    View Answer
    Option B
    Explanation:

    C2FO, a leading on-demand working capital platform, said one of its platform, that addresses liquidity challenges faced by MSMEs, has gone live with State Bank of India and Dabur India, as inaugural participants.
  16. Fship, a tech-driven logistics platform, has partnered with which organization to enhance last-mile delivery services specifically for Direct-to-Consumer (D2C) startups, small and medium businesses (SMBs), and MSMEs in India?
    A) Amazon India
    B) India Post
    C) Flipkart
    D) Blue Dart
    E) None of the above
    View Answer
    Option B
    Explanation:

    Fship, a tech-driven logistics platform, has partnered with the postal service India Post which is the backbone of the country’s communication network.
    This collaboration aims to benefit Direct-to-Consumer (D2C) startups, small and medium businesses (SMBs), and MSMEs across India by enhancing last-mile delivery services for e-commerce products. The integration of these two entities promises to reshape the landscape of last-mile delivery.
  17. In the latest Men’s team rankings update by the International Cricket Council (ICC), what position does India hold in ODIs and T20Is?
    A) Top position in both ODIs and T20Is
    B) Second position in both ODIs and T20Is
    C) Top position in ODIs and second position in T20Is
    D) Second position in ODIs and top position in T20Is
    E) None of the above
    View Answer
    Option A
    Explanation:

    The International Cricket Council (ICC) issued the annual Men’s team rankings update, with India retaining its top position in ODIs and T20Is but slipping to the second position in the Test Team Rankings.
  18. Where will the BWF World Junior Championships 2025 be hosted, as announced by the Badminton World Federation (BWF)?
    A) New Delhi
    B) Kolkata
    C) Guwahati
    D) Mumbai
    E) None of the above
    View Answer
    Option C
    Explanation:

    India will host the BWF World Junior Championships 2025 at the National Centre of Excellence in Guwahati, the Badminton World Federation (BWF) announced.
  19. What penalty did West Indies cricketer Devon Thomas receive after admitting to seven charges, including match-fixing, in various cricket leagues?
    A) Suspension from playing for two years
    B) Lifetime ban from all cricket activities
    C) 5-year ban from cricket
    D) A fine of $100,000
    E) None of the above
    View Answer
    Option C
    Explanation:

    West Indies cricketer Devon Thomas was handed a 5-year ban after he was found guilty of fixing matches in the Caribbean Premier League, Lankan Premier League and the franchise-based league in the UAE. Thomas admitted to seven charges, including those related to match-fixing.
  20. What position has Pratima Singh, an Indian Revenue Service (IRS) officer, been selected for under the Central Staffing Scheme?
    A) Commissioner of Income Tax
    B) Director in the Department of Promotion of Industry and Internal Trade (DPIIT)
    C) Deputy Secretary in the Ministry of Finance
    D) Chief Commissioner of Customs
    E) None of the above
    View Answer
    Option B
    Explanation:

    Pratima Singh, an Indian Revenue Service (IRS) officer of the 2009 batch, has been selected for the position of Director in the Department of Promotion of Industry and Internal Trade (DPIIT) under the Central Staffing Scheme.
  21. Ujjivan Small Finance Bank recently appointed Carol Furtado as Executive Director to enhance its operational and strategic direction. Who approved this appointment?
    A) Securities and Exchange Board of India (SEBI)
    B) Ministry of Finance, Government of India
    C) None of these
    D) Ujjivan Small Finance Bank’s Board of Directors
    E) Reserve Bank of India (RBI)
    View Answer
    Option E
    Explanation:

    Ujjivan Small Finance Bank has appointed Carol Furtado as executive director for three years with effect from May 1. The decision was approved by the Reserve Bank of India (RBI), marking a strategic move for the bank as it seeks to enhance its operational prowess and strategic direction.
  22. Who has been appointed as the President of the GST Appellate Tribunal (GSTAT) for a four-year term, as approved by the Appointment Committee of Cabinet?
    A) Ramesh Chandra Mishra
    B) Priya Gupta
    C) Anand Patel
    D) Kavita Sharma
    E) Sanjaya Kumar Mishra
    View Answer
    Option E
    Explanation:

    The Appointment Committee of Cabinet has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice of Jharkhand High Court, as the President of the GST Appellate Tribunal (GSTAT) for a four-year term.
  23. Who has been re-appointed as the part-time Chairman of HDFC Bank for a three-year term, approved by the Reserve Bank of India (RBI)?
    A) Atanu Chakraborty
    B) Raghuram Rajan
    C) Nirmala Sitharaman
    D) Shaktikanta Das
    E) None of the above
    View Answer
    Option A
    Explanation:

    The Reserve Bank of India has approved the re-appointment of Atanu Chakraborty as part-time Chairman of HDFC Bank for three years with effect from May 5.
  24. Who recently passed away at the age of 77, known for his inventive narratives and meta-narratives such as The New York Trilogy and 4 3 2 1?
    A) Paul Auster
    B) Salman Rushdie
    C) Haruki Murakami
    D) Margaret Atwood
    E) None of the above
    View Answer
    Option A
    Explanation:

    Paul Auster, a prolific, prize-winning man of letters and filmmaker known for such inventive narratives and meta-narratives as The New York Trilogy and 4 3 2 1, has died. He was 77.
  25. Who, at the age of 72, recently passed away in Chennai, known for her work as a playback singer, predominantly in Tamil?
    A) Uma Ramanan
    B) K. S. Chithra
    C) S. Janaki
    D) P. Susheela
    E) None of the above
    View Answer
    Option A
    Explanation:

    Renowned playback singer Uma Ramanan, who predominantly sang in Tamil, passed away at 72 in Chennai.

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