Daily Current Affairs Quiz – 17th February 2023

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 17th February 2023. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2023 & other competitive exams can make use of these Current Affairs Quiz.

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Z1) Which Bank has launched a pilot project under RBI’s Regulatory Sandbox program in partnership with Crunchfish to test offline digital payments for merchants and customers?

(a) Bank of Baroda

(b) IDFC First Bank

(d) HDFC Bank

(e) Axis Bank

2) Which of the following organisation has updated its ‘Alert List’ for the public on unauthorised FOREX trading platforms?

(a) SEBI

(b) IFSCA

(d) BSE

(e) RBI

3) Which company has signed an MoU with South Indian Bank to provide dealer finance options and custom auto retail financing solutions for customers?

a) Hyundai Motor

b) Maruti Suzuki

c) TVS Motor

d) Toyota

e) Bajaj Finserv

4) Recently, Which Bank has launched a wealth management platform in partnership with Geojit Financial Services Limited?

a) TamilNadu Merchantile Bank

b) South Indian Bank

c) Federal Bank

d) State Bank of India

e) HDFC Bank

5) Recently, South Indian Bank signed the agreement with which state government’s Directorate of Treasuries & Accounts (DTA) (Cyber Treasury)?

(a) Haryana

(b) Assam

(d) Manipur

(e) Telangana

6) Where will India’s first waste-to-hydrogen plant is to be set up?

(a) Chennai , Tamil Nadu

(b) Chanduli, Uttar Pradesh

(d) Ghaziabad, Uttar Pradesh

(e) Pune, Maharashtra

7) Which ministry has set up a high-level panel for formulating the guidelines for the operationalisation of Ro-Ro and Ro-Pax ferry services?

(a) Ministry of Ports, Shipping and Waterways

(b) Ministry of Statistics and Programme Implementation

(d) Ministry of Heavy Industries

(e) Ministry of External Affairs

8) Which of the following company has unveiled a new brand identity as it reinforces leadership in providing decarbonisation solutions?

(a) SAIL

(b) NTPC

(d) POWERGRID

(e) BHEL

9) Recently, The Union Government has launched a mobile app named _____________ and a web app Coal Mine Surveillance and Management System (CMSMS) for reporting unauthorized coal mining activities.

(a) Vinay Prahari

(b) Khanan Prahari

(d) Compalint Prahari

(e) Coal Prahari

10) Recently, The Union Cabinet has given approval to the signing of an MoU between India and _________for cooperation in the disability sector.

(a) South Africa

(b) Australia

(d) Canada

(e) France

11) Recently, The four-day National Horticultural Fair (NHF) 2023 was held in Bengaluru. What is the theme of this event?

(a) Invest In Our Planet

(b) End Plastic Pollution

(d) Innovative Horticulture for Self Reliance

(e) None of the above

12) Which of the following country has supplied India with around $13 billion of arms during the past 5 years?

(a) South Korea

(b) Russia

(d) UK

(e) Japan

13) Who has been appointed as an Additional Director and the Managing Director for Drugmaker Pfizer for 5 years?

(a) Meenakshi Nevatia

(b) Malladi Venkat

(d) Vinayak Mudaliyar

(e) Murali Krishna

14) Which of the following companies does Alibaba Group completely sell its 3.16% investment in?

(a) Paytm

(b) PhonePe

(d) GooglePe

(e) PayU

15) Which bankis set to acquire 100% of equity shares of Sonata Finance Pvt Ltd (SFPL) from existing shareholders for a cash consideration of about ₹537 crores?

(a) IDFC FIRST Bank

(b) Kotak Mahindra Bank

(d) YES Bank

(e) Axis Bank

16) HDFC Bank has executed an agreement to sell its entire stake _________ in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crores.

(a) 12.95%

(b) 14.95%

(d) 7.95%

(e) 15.95%

17) Which company has signed an MoU with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia to establish a Data & Artificial Intelligence (AI) and Cloud Center of Excellence (CoE) in Riyadh?

(a) Adani Power

(b) Tech Mahindra

(d) Aditya Birla

(e) Alchemist Group

18) Which of the following has introduced fresh norms for filing statements for equalisation levies by companies that would allow the tax commissioner to reject returns that they deem to be invalid?

(a) Central Board of Indirect Taxes and Customs

(b) NITI Aayog

(d) National Company Law Tribunal

(e) Insolvency and Bankruptcy Board of India

19) Public sector general insurance companies like New India, United India, National Insurance, Oriental Insurance and General Insurance Corporation Re have ________exposure in Adani Group companies.

(a) Rs 246 crore

(b) Rs 535 crore

(d) Rs 754 crore

(e) Rs 348 crore

20) As per the recent report, India’s wheat production during the current crop year (July 2022-June 2023) has been estimated at a record high of ______________.

(a) 88.18 million tonnes

(b) 112.18 million tonnes

(d) 95.18 million tonnes

(e) 107.18 million tonnes

21) Consider the following statement regarding the Master of Business Administration (MBA) 2023 rankings released by the Financial Times. Which of the following statement is incorrect?

(i) IIMs Indore and Lucknow have secured their place in the Master of Business Administration (MBA) 2023 rankings.

(ii) Five Indian business schools have found a place in the Financial Times (FT) Global MBA Ranking 2023.

(iii) The top three weighted salaries in India were earned by graduates of IIM Ahmedabad ($186,420), ISB ($161,331) and IIM Bangalore ($157,514).

(a) Only (i)

(b) Both (i) and (ii)

(d) Both (ii) and (iii)

(e) All (i), (ii) and (iii)

22) As per the recent report, How many bird species were spotted during the first Sundarban Bird Festival?

(a) 123

(b) 167

(d) 113

(e) 152

23) Which of the following country has been awarded the hosting rights for the 2025 World Aquatics Championships?

(a) China

(b) Thailand

(d) South Korea

(e) Malaysia

24) The third edition of the Khelo India Winter Games was recently concluded in Gulmarg, Jammu and Kashmir. Which of the following state has topped the medal tally in this event?

(a) Ladakh

(b) Himachal Pradesh

(d) Maharashtra

(e) Arunachal Pradesh

25) Recently, Lalitha Lajmi passed away at the age of 90. She was a renowned ____________.

(a) Politician

(b) Actor

(d) Cricketer

(e) Journalist

Answers :

1) Answer: D

HDFC Bank has launched a pilot project under the Reserve Bank of India’s (RBI’s) Regulatory Sandbox program in partnership with Crunchfish, to test offline digital payments for merchants and customers.

HDFC is the first bank to launch a digital payment solution in a completely offline mode.

About ‘OfflinePay’ :

OfflinePay’ will enable customers and merchants to make and receive payments even when there is no mobile network

This can boost the adoption of digital payments in smaller towns and rural areas with poor network connectivity.

2) Answer: E

The Reserve Bank of India (RBI) updated its ‘Alert List’ for the public on unauthorised forex trading platformsto include 14 more names of entities/platforms/ websites which appear to be promoting unauthorised entities/Electronic Trading Platform (ETPs), including through advertisements of such unauthorised entities or claiming to be providing training/advisory services

In September,2022 the RBI came out with an ‘Alert List’ containing the names of 34 entities & currently the list has 48 entries.

Key Highlights :

The authorisation status of any person/ETP can be ascertained from the list available in the RBI’s website.

It covers those entities/platforms/websites which are neither authorised to deal in foreign exchange (forex) under the Foreign Exchange Management Act, 1999 (FEMA).

Unauthorised entities are also not authorised to operate electronic trading platforms (ETPs) under the Electronic Trading Platforms (Reserve Bank) Directions, 2018 for forex transactions.

3) Answer: B

South Indian Bank has signed a Memorandum of Understanding (MoU) with Maruti Suzuki to provide dealer finance options and custom auto retail financing solutions for customers.

With this tie-up, South Indian Bank aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to the customers of Maruti Suzuki.

The agreement was signed between the senior management from Maruti Suzuki and South Indian Bank.

4) Answer: B

South Indian Bank has launched a wealth management platform – SIB Wealth in partnership with Geojit Financial Services Ltd

About SIB Wealth :

SIB Wealth is an exclusive value-added service that will help the bank’s high net worth (HNI) customers to invest their money in the best financial instruments available in the market.

Under the platform, SIB will be offering the following products/services: Portfolio management services, Alternative investment fund, Systematic investment plan, Mutual fund, Bond, Real estate funds, Structured products

SIB Wealth will provide integrated services.

Along with managing their financial assets, the company will be creating strategic plans for their current and future needs.

5) Answer: E

South Indian Bank had signed the agreement with Telangana’s government’s Directorate of Treasuries & Accounts (DTA) (Cyber Treasury), Hyderabad, Telangana.

With this arrangement, South Indian Bank is among the 6 private sector banks empanelled by Telangana State to facilitate payments towards Cyber Treasury.

Key Highlights :

The partnership, allows the common public to make payments to Cyber Treasury – the online treasury portal of the state through the Internet Banking platform of South Indian Bank – SIBerNet

SIBerNet’ internet banking platform is a state-of-the-art facility that is focused on providing customer services on the go with added convenience and security.

6) Answer: E

The country’s first solid waste-to-hydrogen plant will be set up in Pune at a cost of over Rs 430 crore.

The plant will be set up by sustainability solutions provider TheGreenBillions Ltd (TGBL), who has entered into a 30-year-long agreement with Pune Municipal Corporation (PMC).

It will treat 350 tonnes of solid garbage every day by next year.

The plant will be set up at the plant at Hadapsar Industrial Estate in Pune.

This is the first attempt in India to extract hydrogen from waste.

The company will invest Rs 350 crore in setting up the plant and an additional Rs 82 crore will be spent to construct the storage facility and logistics support.

The first 10 tonne reactor will be installed by November 2023 and the target to complete the entire plant is November 2024.

For the Pune plant PSU firm Broadcast Engineering Consultants India Ltd (BECIL) will provide the project management consulting and Variate Pune Waste to Energy Pvt Ltd, a wholly-owned subsidiary of TGBL, will implement the project.

7) Answer: A

The Ministry of Ports, Shipping and Waterways (MoPSW)has set up a high-level panel for formulating the guidelines for the operationalisation of Ro-Ro (Roll-on, Roll-off) and Ro-Pax ferry services.

Besides, the committee, chaired by Deendayal Port Authority Chairman, will draft the model concession agreement for Ro-Ro/ Ro-Pax terminal operator and model license agreement for operation of Ro-Ro/ Ro-Pax/ fast passenger ferry.

Generally, Ro-Ro refers to vessels that have the facility to roll-on or roll-off cargo when docked at a port.

Such a system allows for easier movement of cargo.

With Ro-Pax facility, people can travel in their vehicles in a vessel from and to a port.

Last June, the ministry had circulated ‘Draft Guidelines for operationalisation of Ro-Ro and Ro-Pax ferry service along the coast of India’ in June 2022 for stakeholder consultation.

In the Union Budget 2023-24, the government said that coastal shipping will be promoted as the energy-efficient and lower-cost mode of transport, both for passengers and freight, through PPP (Public Private Partnership) mode with viability gap funding which is in line with the country’s focus on green growth.

8) Answer: C

ReNew Power, a pioneer in the renewable energy space, has made a strategic decision to rebrand itself as ReNew.

The new brand identity reflects the company’s transition from being a pure-play renewable Independent Power Producer to an end-to-end provider of solutions across the decarbonisation spectrum.

In line with its strategy to focus on the overall clean energy eco-system, ReNew has been leading the development of emerging decarbonisation solutions like green hydrogen, energy storage, carbon markets, and solar manufacturing, and is poised to further the Net-Zero transition goals of enterprises.

Sumant Sinha, Chairman and CEO, ReNew.

9) Answer: B

Recently, government has launched a mobile app namely ‘Khanan Prahari’ and a web app Coal Mine Surveillance and Management System (CMSMS) for reporting unauthorized coal mining activities.

Its main aim is to use space technology for curbing illegal coal mining activity in the coalfield areas of country.

To detect citizens’ participation against illegal mining by receipt of citizen’s complaints through mobile app – KhananPrahari.

It is developed by the Ministry of Coal in coordination with Bhaskaracharya Institute for Space Application and Geo-informatics (BISAG), Gandhinagar and the Ministry of Electronics & Information Technology (MeitY).

10) Answer: A

Union Cabinet has given approval to the signing of an MoU between India and South Africa for cooperation in the disability sector.

The bilateral MoU will encourage cooperation between the Department of Empowerment of Persons with Disabilities of India and the Government of South Africa.

Union Cabinet has given approval to the signing of an MoU between India and Chile for cooperation in the field of Agriculture and Allied sectors.

Under the MoU, a Chile-India Agricultural Working Group is to be set up.

This Working Group will be responsible for the supervision, review and assessment of the implementation of this MoU.

The meetings of the Working Group will be held once a year alternatively in Chile and India.

The MoU will enter into force upon its signature.

It will remain in force for a period of five years from the date of execution.

Union Cabinet has also given approval to the signing of an MoU between the Institute of Chartered Accountants of India (ICAI) and The Institute of Chartered Accountants in England & Wales (ICAEW).

11) Answer: D

“Innovative Horticulture for Self Reliance” will be the theme of the four-day National Horticultural Fair (NHF) 2023 being organised in Bengaluru from February 22.

The fair, being organised by the ICAR-Indian Institute of Horticultural Research, will showcase and demonstrate the latest technologies for the production and processing of horticultural crops such as fruits, vegetables, flowers and medicinal crops with a focus on import substitution,.

The sixth edition of the NHF 2023 is being organised in collaboration with the Society for Promotion of Horticulture (SPH), BESST-Hort, a technology business incubator of ICAR-IIHR, the ICAR- ATARI, Bengaluru and leading development departments serving for the promotion of horticulture.

Over 50,000 farmers and around 250 exhibitors are expected to participate in NHF 2023, which will also showcase the innovation and value addition in millets, considering that 2023 is being observed as the International Year of Millets.

12) Answer: B

Russia supplied India with around $13 billion of arms during the past 5 years.

As per Russian state news agencies, New Delhi has orders placed with Moscow for weapons and military equipment exceeding $10 billion.

Key Highlights :

India is the world’s biggest buyer of Russian arms, accounting for around 20% of Moscow’s current order book.

Annual arms exports were about $14-15 billion, and the order book has remained steady at around $50 billion.

According to data firm Stockholm International Peace Research Institute (SIPRI), India was the top importer of Russian arms from 2017 to 2021, and Russian equipment made up 46% of India’s arms imports.

Russia will be presenting about 200 samples of weapons and military equipment at the 14th international aerospace exhibition Aero India 2023.

13) Answer: A

Drugmaker Pfizer Limited’s Board of Directors has appointed Ms Meenakshi Nevatia as an Additional Director and the Managing Director (MD) for a period of 5 years with effect from April 3, 2023.

She will succeed Mr S Sridhar, who will be stepping down as MD and board member from March 31, 2023.

The appointment of Meenakshi will be subject to the approval of shareholders through the Postal Ballot and the central government

Meenakshi has 30 years of experience across companies including Mckinsey & Co, Novartis Pharmaceuticals, and more recently Stryker Corporation.

14) Answer: A

Chinese company Alibaba is learnt to have sold 3.16% direct stake or 2.1 crore shares in digital financial services firm One97 Communications Limited (OCL), which operates under Paytm brand, for about Rs 13,600 crore in a block deal.

At the end of December 2022, Alibaba had 6.26% stake in the fintech firm and sold around 3.1% of it in January, 2023.

In November 2022,the Japanese SoftBank Group sold 29 million shares of Paytm, or a 4.5% stake, worth about $200 million through a block deal.

15) Answer: B

Kotak Mahindra Bank Limited (KMBL) has entered into a binding share purchase agreement(s) to acquire 100% of equity shares of Sonata Finance Pvt Ltd (SFPL), a Non-Banking Finance Company – Micro Finance Institution (NBFC-MFI), from existing shareholders for a cash consideration of about ₹537 crore.

The indicative time period for completion of the acquisition is H1 (April-September) FY24.

With this acquisition, SFPL will be a wholly owned subsidiary of KMBL after receiving regulatory and other approvals.

Key Highlights :

As of December 31, 2022, Sonata Finance had an asset under management of Rs 1,903 crore, servicing a customer base of 900,000 through a network of 502 branches across 10 states.

The KMBL last made an acquisition of an NBFC-MFI in 2017, when it acquired 99.49% of equity shares of BSS Microfinance for an aggregate all-cash consideration of ₹139.2 crore.

16) Answer: C

HDFC Bank has executed an agreement to sell its entire stake 9.95% (1,65,731 Equity Shares) in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crore.

In March 2020, HDFC Bank sold 2.05% stake, or 34,150 shares of Softcell Technologies Global, for ₹1.47 crore.

About STGPL :

Founded : September 6, 2018

Softcell sells Information Technology (IT) products and provides software and allied services.

In FY22, the company had a turnover (operating income) of ₹584.42 crore and posted a net profit of ₹11.33 crore.

17) Answer: B

Tech Mahindra has signed a Memorandum of Understanding (MoU) with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia to establish a Data & Artificial Intelligence (AI) and Cloud Center of Excellence (CoE) in Riyadh.

The announcement supports ‘Vision 2030’, a strategic long-term digital-led development of Saudi Arabia which aims to diversify from the oil market to technology and economic development with private players.

The MoU was signed between Ibrahem N Al-Nasser, deputy minister for technology of MCIT, and Ram Ramachandran, head -Middle East & Africa, Tech Mahindra.

The CoE will combine academic and socio-economic goals to build national Hi-tech talent capacity, create high-quality jobs, promote digital innovation and upscale small & medium enterprises (SMEs).

18) Answer: C

Central Board of Direct Taxes has introduced fresh norms for filing statements for equalisation levy by companies that would allow the tax commissioner to reject returns that they deem to be invalid and has said that the personal appearance of assessees for clarifications is not needed.

The provisions are part of the Centralised Processing of Equalisation Levy Statement Scheme, 2023 notified by the CBDT recently.

Equalisation levy or Google tax, as it is often called, was introduced in 2016 to tax the digital economy.

While it was initially levied at 6% of the gross consideration on online advertisements and digital advertising space, its scope was widened in 2020.

19) Answer: E

Public sector general insurance companies like New India, United India, National Insurance, Oriental Insurance and General Insurance Corporation Re have Rs 348-crore exposure in Adani Group companies.

This represents 0.14% of their total assets under management (AUM).

Financial institutions like Exim Bank, SIDBI, NHB, National Bank for Financing Infrastructure and Development (NBFID) and NABARD can’t divulge information under their acts.

The finance ministry’s information comes at a time when state-owned Life Insurance Corporation came under scrutiny for its Rs 36,000-crore exposure in Adani Group companies.

LIC’s +exposure in the Adani Group is 0.975% of LIC’s total AUM.

20) Answer: B

India’s wheat production during the current crop year (July 2022-June 2023) has been estimated at a record high of 112.18 million tonnes (mt) – 5 per cent higher than 106.84 mt last crop year.

The record high production of wheat, rice and coarse cereals has resulted in foodgrains production projected at a new high of 323.55 mt, up 2.5 per cent from the previous record high of 315.62 mt in 2021-22.

The government releases four estimates at quarterly intervals before finalising the production for a crop year.

Normally, there is a revision in each round from the previous one after the first estimate is released.

Last year, traders and others had pegged wheat output below 100 mt after the yield dropped in almost all growing states, including Punjab and Haryana, due to a heatwave sweeping across the country in Marchand April.

However, the Centre has estimated it higher at 107.74 mt in the revised estimates.

21) Answer: C

IIMs Indore and Lucknow have secured their place in the Master of Business Administration (MBA) 2023 rankings released by the Financial Times.

According to the rankings released by the FT, the Indian School of Business (ISB) and Indian Institutes of Management at Ahmedabad, Bangalore, Calcutta Indore and Lucknow make it to the list.

This year, the ISB slipped to 39th rank from 32nd IIM Ahmedabad improved its position to 51 from 62 in 2022.

However, ISB managed to retain its No. 1 position in India.

It is the only Indian B-school in the top 50 worldwide.

The Global MBA Ranking is published annually and ranks MB A programs worldwide based on various factors such as alumni salaries, career progress, and diversity.

Six Indian business schools have found a place in the Financial Times (FT) Global MBA Ranking 2023.

These include the Indian School of Business (ISB) Hyderabad (39th), Indian Institute of Management (IIM) Ahmedabad (51), IIM Bangalore (52), IIM Calcutta (76), IIM Indore (89) and IIM Lucknow (90).

In the 2022 rankings, there were only four Indian B-schools in the top-100 list — ISB (32), IIM Bangalore (53), IIM Ahmedabad (62) and IIM Calcutta (68).

Even though ISB has slipped seven places from last year’s rankings, the B-school said it is the top in India and the only Indian among global top-50.

The maximum weighted salary of graduates was at Stanford ($248,669), Harvard ($235,019) and Columbia ($226,359).

The top three weighted salaries in India were earned by graduates of IIM Ahmedabad ($186,420), ISB ($161,331) and IIM Bangalore ($157,514).

22) Answer: C

Recently, birders, wildlife enthusiasts and forest officials have sighted 145 different bird species during the first Sundarban Bird Festival.

The first-ever festival was organised by the Sundarban Tiger Reserve (STR) division of the West Bengal Forest Department, where six teams visited different areas inside the Sundarban Biosphere Reserve.

The Sundarbans is located on the delta of the Ganga, Brahmaputra and Meghna rivers in the Bay of Bengal.

This Biosphere Reserve includes Sundarban Tiger Reserve, Sundarban National Park (core area), Halliday Island and Lothian Island Wildlife Sanctuaries with Sajnakhali Wildlife Sanctuary forming its buffer area.

It is designated as a UNESCO World Heritage site.

23) Answer: C

Singapore has been awarded the hosting rights for the 2025 World Aquatics Championships, replacing the Russian city Kazan which is hoping to secure the event in 2029.

Kazan was named as host of the 2025 edition in 2019, but the event that features swimming, water polo, diving, artistic swimming, open water swimming and high diving competitions has now been moved to Singapore.

The decision comes after Kazan lost the rights to stage last year’s World Swimming (25m) Championships, with Melbourne in Australia taking the city’s place, due to Russia’s invasion of Ukraine.

24) Answer: C

The third edition of Khelo India Winter Games concluded in Gulmarg with a grand function attended by over 2,000 participants, including players, tourists and officials of different departments.

J&K topped the medal tally, bagging 26 gold medals, 25 silver and 25 bronze medals, followed by Maharashtra that got 13 gold, eight silver and six bronze medals.

The third position was achieved by Himachal Pradesh which won 10 gold, 14 silver and 7 bronze medals while the Army scored 10 gold, 10 silver and 9 bronze medals.

Nisith Pramanik, Union Minister of State, Ministry of Youth Affairs and Sports, was the chief guest for the concluding ceremony.

25) Answer: C

Noted painter & late actor-filmmaker Guru Dutt’s sister, Lalitha Lajmi, Passed away at the age of 90.

About Lalitha Lajmi :

Lalita Lajmi was born in 1932 in Kolkata, West Bengal, India.

She has held several exhibitions in international art galleries in Paris, London and the Netherlands.

An unparalleled water-colourist, through her works she narrates a layered history of the modern Indian woman in the decades that followed Independence.

Her works reflect the hidden tensions that exist between men and women, captured in the different roles they play.

This post was last modified on February 21, 2023 3:19 pm

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Daily Current Affairs Quiz – 17th February 2023

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