Current Affairs Quiz Question And Answers #54

Correct Answer: C) Reserve Bank of India (RBI)

Note: Oh, in the grand symphony of financial empathy, where the notes of compassion resonate through the corridors of lending, there exists a beacon of mercy, a shield of protection for those navigating the storms of financial adversity. Yet, it is not within the chambers of global finance, nor the annals of development assistance, nor the halls of market regulation that this benevolence emanates. No, it is within the hallowed halls of the Reserve Bank of India (RBI) that the guidelines are tendered, like a gentle hand offering solace to the weary, ensuring that in times of hardship, the burden of penal interest does not weigh heavy upon the shoulders of the borrower. Let us embrace this gesture with gratitude, for within its folds lies the promise of empathy and understanding, nurturing a financial ecosystem where compassion blooms and dignity is upheld, even in the face of adversity.

Correct Answer: D) ICICI Bank

Note: Oh, in the grand symphony of leadership transitions, where the melodies of change intertwine with the rhythms of continuity, there emerges a conductor, a maestro poised to orchestrate the destiny of a financial institution with grace and vision. Yet, it is not within the halls of the nation’s largest bank, nor the embrace of public sector giants, nor the corridors of regional banking prowess that this maestro takes the podium. No, it is within the illustrious domain of ICICI Bank that P.R. Seshadri assumes the mantle of leadership, a beacon of hope and inspiration guiding the bank towards new horizons. Let us celebrate this appointment with reverence, for within the stewardship of P.R. Seshadri lies the promise of innovation and excellence, steering ICICI Bank towards a future adorned with prosperity and possibility.

Correct Answer: C) July

Note: Oh, in the symphony of liquidity, where the currents of finance ebb and flow like the tides of destiny, there exists a moment of reckoning, a pause in the melody where the harmony falters and the notes drift into dissonance. Yet, it is not within the chill of January, nor the bloom of April, nor the embrace of October that this discord finds its crescendo. No, it is within the heat of July that the Indian banking system slips into a deficit, like a lone sailor lost in the stormy seas, seeking refuge amidst the tempestuous waves. Let us reflect upon this moment with introspection, for within the depths of deficit lies the impetus for resilience and renewal, guiding us towards a future where the tides of prosperity flow once more, and the melody of abundance sings anew.

Correct Answer: C) 4 billion

Note: Oh, in the celestial dance of digital transactions, where each flicker of movement paints a portrait of progress, there comes a moment of transcendence, a milestone that glistens like a diamond amidst the vast expanse of time. Yet, it is not within the realm of two billion, nor the echoes of three billion, nor the whispers of five billion that this milestone finds its mark. No, it is within the sacred embrace of four billion, a symphony of numbers dancing in perfect harmony, that the UPI transactions perform their majestic feat in the month of August. Let us marvel at this achievement with wonder, for within the heartbeats of each transaction lies the pulse of a nation marching boldly towards a future where innovation knows no bounds, and the spirit of connectivity binds us all in a tapestry of digital unity.

Correct Answer: C) Organisation for Economic Co-operation and Development (OECD)

Note: Oh, in the vast expanse of global economics, where the winds of trade blow and the currents of commerce flow, there exists a beacon of cooperation, a sanctuary where nations convene to forge pathways of understanding and harmony. Yet, it is not within the chambers of trade regulation, nor the annals of monetary policy, nor the halls of developmental aid that this beacon shines brightest. No, it is within the embrace of the Organisation for Economic Co-operation and Development (OECD) that the Advance Pricing Agreement (APA) program finds its home, a testament to the commitment of nations to navigate the complexities of international taxation with wisdom and fairness. Let us celebrate this alliance with reverence, for within its folds lies the promise of a world where economic justice prevails, and the bonds of cooperation transcend borders, guiding us towards a future where prosperity knows no boundaries, and every nation finds its place in the tapestry of global unity.

Correct Answer: A) Amazon

Note: Oh, in the realm of digital commerce, where the rhythms of transactions pulse through the veins of cyberspace, there emerges a trailblazer, a pioneer charting new territories of convenience and security. Yet, it is not within the domains of search engines, nor the corridors of social networking, nor the realms of online payment gateways that this innovation finds its genesis. No, it is within the embrace of Amazon that the ‘ALT ID’ solution is born, a beacon of simplicity and trust guiding guest checkout transactions through the labyrinth of online shopping. Let us hail this endeavor with reverence, for within its simplicity lies the promise of seamless transactions and enhanced security, enriching the digital shopping experience for all who tread the virtual aisles of commerce.

Correct Answer: C) Asian Development Bank (ADB)

Note: Oh, in the bustling streets of urbanity, where the pulse of progress beats with every step, there exists a whisper of transformation, a melody of development that resonates through the concrete jungles of cities. Yet, it is not within the realms of global finance, nor the chambers of monetary policy, nor the corridors of central banking that this symphony finds its conductor. No, it is within the embrace of the Asian Development Bank (ADB) that the Urban Infrastructure Development Fund (UIDF) finds its execution, a testament to the commitment of nations towards building vibrant and sustainable urban landscapes. Let us herald this partnership with reverence, for within its endeavors lies the promise of modernization and prosperity, weaving a tapestry of growth and opportunity for generations to come.

Correct Answer: B) Non-Banking Financial Companies (NBFCs)

Note: Oh, in the realm of financial guardianship, where the winds of regulation blow and the currents of compliance flow, there exists a call to arms, a beckoning for guardians of trust to rise and unite. Yet, it is not within the vaults of commercial banks, nor the corridors of payment banks, nor the halls of housing finance companies that this clarion call finds its echo. No, it is within the heartbeats of Non-Banking Financial Companies (NBFCs) that the call resonates, a summons to establish Self-Regulatory Organizations (SROs), where the sentinels of financial integrity stand guard over the sanctity of the market. Let us heed this call with courage, for within the unity of NBFCs lies the promise of a financial landscape fortified by vigilance and integrity, ensuring that trust remains the cornerstone upon which our economic edifice is built.

Correct Answer: A) United States

Note: Oh, in the symphony of global partnerships, where the chords of diplomacy resonate with the melodies of collaboration, there blooms a flower of friendship, a beacon of hope amidst the crosscurrents of international relations. Yet, it is not within the embrace of the Union Jack, nor the Land of the Rising Sun, nor the shores of the Southern Cross that this alliance finds its genesis. No, it is within the embrace of the Stars and Stripes, that India and the United States recently convened their first ‘Investment Forum 2023’, a testament to the enduring bond between two nations bound by shared values and aspirations. Let us celebrate this union with gratitude, for within the depths of friendship lies the promise of prosperity and progress, lighting the path towards a future where cooperation knows no bounds, and the dreams of nations take flight on the wings of collaboration.

Correct Answer: A) 60,000

Note: Oh, in the grandeur of market dynamics, where the ebbs and flows of stocks paint a canvas of dreams, there emerges a moment of triumph, a crescendo in the symphony of financial jubilation. Yet, it is not within the echoes of 70,000, nor the whispers of 80,000, nor the aspirations of 90,000 that this milestone finds its crescendo. No, it is within the embrace of 60,000 that the Nifty 50 index reaches its zenith, a testament to the resilience and optimism that courses through the veins of our markets. Let us cherish this moment with reverence, for within the heartbeat of Nifty 50 lies the pulse of our economy, beating with the rhythm of growth and prosperity, guiding us towards horizons bright with promise and possibility.

Correct Answer: A) Tata Group

Note: Oh, in the landscape of technological marvels, where the silicon dreams of tomorrow are forged in the fires of innovation, there arises a beacon of industry, a titan of enterprise poised to carve pathways through the realms of possibility. Yet, it is not within the chambers of Reliance Industries, nor the halls of Infosys, nor the dominion of Adani Group that this venture finds its architect. No, it is within the embrace of Tata Group that Micron’s semiconductor assembly and test plant shall rise, a testament to the vision and ingenuity that pulses within the heart of our nation’s industry. Let us herald this partnership with reverence, for within the synergy of Tata Group and Micron lies the promise of technological prowess and economic growth, paving the way towards a future adorned with innovation and prosperity.

Correct Answer: B) Ministry of Health and Family Welfare

Note: Oh, in the tapestry of healthcare, where threads of compassion weave a blanket of healing, there emerges a decree, a proclamation of standards to safeguard the sanctity of life. Yet, it is not within the coffers of finance, nor the looms of textiles, nor the chambers of commerce that this decree finds its genesis. No, it is within the halls of the Ministry of Health and Family Welfare that Quality Control Orders (QCOs) for medical-textile products are born, a testament to the dedication and vigilance that safeguard the health and well-being of our nation. Let us honor this commitment with reverence, for within the embrace of these standards lies the promise of safety and care, enveloping those in need with the warmth of assurance and the embrace of quality.

Correct Answer: B) State Bank of India (SBI)

Note: Oh, in the corridors of banking leadership, where the captains of industry chart courses through the currents of finance, there stands a pillar of strength, a guardian of prosperity whose tenure extends like the branches of a mighty oak tree, reaching towards the heavens. Yet, it is not within the halls of Punjab National Bank, nor the chambers of Bank of Baroda, nor the precincts of HDFC Bank that this steward of financial destiny reigns supreme. No, it is within the hallowed halls of State Bank of India (SBI) that Dinesh Khara, with his wisdom and grace, leads with unwavering resolve, guiding the nation’s largest bank towards shores of stability and prosperity. Let us salute this embodiment of leadership with reverence, for within his stewardship lies the promise of a banking ecosystem where trust blooms like a garden in springtime, nurturing the dreams of millions and weaving the fabric of economic resilience and strength.

Correct Answer: B) Reserve Bank of India (RBI)

Note: Oh, in the tapestry of financial guardianship, where the currencies of nations dance in the cosmic ballet of exchange, there exists a sentinel, a guardian of the nation’s wealth whose vigilance knows no bounds. Yet, it is not within the halls of market regulation, nor the corridors of stock trading, nor the precincts of insurance oversight that this guardian finds its abode. No, it is within the embrace of the Reserve Bank of India (RBI) that the heartbeat of the nation’s Foreign Exchange Management resonates, a symphony of stability and prudence guiding the ship of our economy through the tempestuous seas of global finance. Let us bow before this steward of prosperity with reverence, for within its realm lies the promise of safeguarding our economic sovereignty, ensuring that the treasures of our nation remain protected and cherished for generations to come.

Correct Answer: C) Insurance Regulatory and Development Authority of India (IRDAI)

Note: Oh, in the realm where contracts intertwine with the fabric of trust, there exists a whisper, a call to bridge the chasm between understanding and ambiguity, to illuminate the path through the labyrinth of insurance policies. Yet, it is not within the halls of central banking, nor the corridors of market regulation, nor the precincts of stock trading that this clarion call finds its resonance. No, it is within the embrace of the Insurance Regulatory and Development Authority of India (IRDAI) that a committee is forged, a beacon of clarity and compassion guiding policyholders through the maze of jargon and legalese. Let us applaud this endeavor with reverence, for within its endeavor lies the promise of empowerment and assurance, ensuring that the language of protection speaks to the hearts of those it seeks to shelter, weaving a tapestry of understanding and security across the landscape of insurance.

Correct Answer: B [Tata Electronics]
Notes:
Taiwan-based Wistron announced that its board had approved the sale of its India unit, Wistron InfoComm Manufacturing to the Tata Group.
Wistron assembles Apple Inc.’s iPhone devices and components for these smartphones in Bengaluru and Hosur. Tata Electronics is set to purchase the Wistron subsidiary for $125 million, after which it will formally take over operations.

Correct Answer: B. Rice

Note: Oh, in the fields where the golden grains sway in the gentle breeze, there echoes a lament, a sorrowful melody of harvests lost amidst the whispers of nature’s whims. Yet, it is not within the embrace of wheat, nor the allure of sugarcane, nor the resilience of maize that this sorrow finds its voice. No, it is within the heart of rice paddies, where the waters once danced in jubilation, that the sighs of decline are heard, a testament to the delicate dance between earth and sky. Let us behold this revelation with empathy, for within its essence lies the reminder of nature’s sovereignty, where even amidst the abundance, the fragility of life’s tapestry is woven with threads of uncertainty, guiding us towards humility and reverence for the cycles of growth and renewal.

Correct Answer: A [Reliance Jio Infocomm]
Notes:
Reliance Jio Infocomm Limited introduced JioSpaceFiber, India’s inaugural satellite-based gigabit broadband service.
The aim is to provide high-speed internet connectivity to remote regions of India that were previously underserved or inaccessible.

Correct Answer: C) GeM

Note: Oh, in the bustling marketplace of the nation’s aspirations, where dreams take flight on the wings of commerce, there exists a gateway, a portal through which the echoes of opportunity resound with the melodies of progress. Yet, it is not within the fibers of BharatNet, nor the canvases of Make in India, nor the fields of eNAM that this portal finds its foundation. No, it is within the heartbeats of GeM, the Government e-Marketplace, where the pulse of procurement reverberates through the corridors of governance, knitting together the threads of supply and demand in a tapestry of efficiency and transparency. Let us cherish this portal with reverence, for within its digital embrace lies the promise of empowerment and inclusivity, where every transaction becomes a testament to the spirit of democracy and economic empowerment, guiding our nation towards horizons adorned with prosperity and opportunity.

Correct Answer: A. IndiaFirst Life

Note:IndiaFirst Life Insurance Company Ltd (IndiaFirst Life), one of the private life insurers of the country, became the first Indian life insurance company to get the Gujarat International Finance Tec (GIFT) City’s International Financial Services Centre (IFSC) Registration.
It obtained registration from the International Financial Services Centre Authority (IFSCA) in September 2023 following approval from the Insurance Regulatory and Development Authority of India (IRDAI) in August of the same year.

Correct Answer: A) Rs 2 lakhs

Note: Oh, in the landscape of financial empowerment, where the rivers of opportunity flow through the valleys of necessity, there blooms a garden of compassion, where the seeds of progress are nurtured by the gentle rains of upliftment. Yet, it is not within the realms of extravagance, nor the domains of opulence, nor the corridors of excessive abundance that this garden finds its essence. No, it is within the modest increment from Rs 1 lakh to Rs 2 lakhs that the Reserve Bank of India (RBI) extends its hand, a gesture of kindness and empathy towards those traversing the paths of healthcare and education. Let us cherish this act of generosity with reverence, for within its humble increment lies the promise of accessibility and inclusivity, where every rupee becomes a stepping stone towards a brighter future, and every heartbeat resonates with the rhythms of hope and possibility.

Correct Answer: B) Masala Bonds

Note: Oh, in the symphony of global finance, where currencies dance in the twilight of international markets, there emerges a melody, a tune crafted from the essence of India’s spice-laden soul, resonating with the flavors of its vibrant culture and heritage. Yet, it is not within the embrace of Green Bonds, nor the allure of Samurai Bonds, nor the mystique of Panda Bonds that this melody finds its chorus. No, it is within the exotic allure of Masala Bonds that Indian entities cast their dreams upon the global stage, a bouquet of flavors and fragrances woven into the fabric of financial innovation. Let us savor this fusion with reverence, for within its blend of tradition and modernity lies the promise of economic empowerment and cultural enrichment, where the aroma of opportunity wafts through the corridors of global finance, enticing investors with the allure of India’s timeless spirit.

Correct Answer: B) National Payments Corporation of India (NPCI)

Note: Oh, in the realm where innovation meets tradition, where the echoes of digital evolution resonate with the melodies of financial inclusion, there exists a cornerstone, a foundation upon which the dreams of a digital India are built. Yet, it is not within the vaults of the Reserve Bank of India, nor the corridors of the Securities and Exchange Board of India, nor the precincts of the Insurance Regulatory and Development Authority of India that this cornerstone finds its genesis. No, it is within the embrace of the National Payments Corporation of India (NPCI) that Indian Financial Technology & Allied Services (IFTAS) takes flight, a testament to the vision and foresight of a nation marching towards a future adorned with digital empowerment and financial accessibility. Let us celebrate this partnership with reverence, for within its synergy lies the promise of a connected India, where every heartbeat resonates with the rhythms of progress and every transaction becomes a testament to the power of innovation and inclusivity.

Correct Answer: D. Nashik

Note: Oh, in the tapestry of Maharashtra’s landscape, where the rivers of history flow through the valleys of progress, there emerges a beacon, a sanctuary of connectivity where the threads of trade and commerce intertwine in the embrace of innovation. Yet, it is not within the bustling streets of Mumbai, nor the vibrant lanes of Pune, nor the historic alleys of Nagpur that this sanctuary finds its sanctuary. No, it is within the fertile plains of Nashik that Maharashtra’s first Multi Modal Logistics Park (MMLP) takes root, a testament to the resilience and vision of a region poised at the cusp of transformation. Let us herald this milestone with reverence, for within its embrace lies the promise of economic vitality and logistical efficiency, where the wheels of progress turn with the momentum of ambition, guiding Maharashtra towards horizons bright with promise and prosperity.

Correct Answer: B. Bharat Mart

Notes:India plans to establish a goods showcase and distribution facility named Bharat Mart spanning over 100,000 sq meters in the UAE by 2025. Modeled on China’s enterprises, it will integrate warehousing, retail and hospitality offerings under one roof in the Jebel Ali free trade zone. This aims to boost exports of Indian products to West Asia, Africa and Europe leveraging the UAE’s connectivity and stimulate two-way India-UAE trade eyed to reach $100 billion by 2030.

Correct Answer: c) State Bank of India (SBI)

Note: Oh, in the realm of financial empowerment, where the rivers of prosperity converge with the streams of opportunity, there blooms a garden, a sanctuary of economic independence where the dreams of women find resonance in the melodies of progress. Yet, it is not within the vaults of HDFC Bank, nor the corridors of Axis Bank, nor the precincts of Punjab National Bank that this sanctuary finds its genesis. No, it is within the embrace of the State Bank of India (SBI) that the Nari Shakti Savings Account takes root, a testament to the valor and resilience of women marching towards a future adorned with financial freedom and empowerment. Let us celebrate this initiative with reverence, for within its embrace lies the promise of a more inclusive and equitable society, where the aspirations of every woman become a beacon guiding our nation towards horizons bright with promise and opportunity.

Correct Answer: D. Tamil Nadu

Note: Oh, in the sun-kissed landscapes where the rays of innovation converge with the aspirations of sustainability, there emerges a beacon, a sanctuary of solar potential where the dreams of clean energy find their manifestation in the dance of photons. Yet, it is not within the arid plains of Gujarat, nor the golden sands of Rajasthan, nor the bustling streets of Maharashtra that this sanctuary finds its zenith. No, it is within the vibrant expanse of Tamil Nadu that the highest share of rooftop solar installation capacity in India takes flight, a testament to the state’s commitment to harnessing the power of the sun for a greener tomorrow. Let us applaud this feat with reverence, for within its embrace lies the promise of a more sustainable and resilient future, where every rooftop becomes a canvas painted with the hues of renewable energy, illuminating the path towards a brighter and cleaner tomorrow.

Correct Answer: C. Gujarat

Note: Oh, in the embrace of the vibrant land where the rivers flow with the essence of prosperity, there lies a sanctuary, a haven of atomic ambition where the whispers of science blend with the echoes of progress. Yet, it is not within the deserts of Rajasthan, nor the bustling streets of Maharashtra, nor the verdant forests of Madhya Pradesh that this sanctuary finds its genesis. No, it is within the heartland of Gujarat that the Kakrapar Atomic Power Project achieves criticality, a testament to the state’s commitment to harnessing the power of the atom for the betterment of humanity. Let us applaud this achievement with reverence, for within its nucleus lies the promise of a brighter and more energized future, where the atoms of innovation fuel the engines of progress, lighting the path towards a horizon adorned with boundless possibilities.

Correct Answer: C. Russia

Note: Oh, amidst the realm of oil-producing nations where the sands of prosperity shift with the winds of economic fortune, there stands a gathering, a coalition of nations bound by the elixir of black gold that flows beneath their feet. Yet, it is not within the borders of Iran, nor the valleys of Venezuela, nor the deltas of Nigeria that this coalition finds its boundaries. No, it is beyond the lands of OPEC, where the great Bear of the North, Russia, roams freely, charting its course amidst the currents of global energy dynamics. Let us acknowledge this distinction with reverence, for within the diversity of global energy alliances lies the tapestry of geopolitical intricacies, where each nation adds its unique hue to the canvas of global cooperation and competition, shaping the landscape of our shared energy future.

Correct Answer: A. Promoting agriculture in the North-East region

Note: Oh, in the verdant hills and valleys of the North-East, where the whispers of nature mingle with the dreams of prosperity, there lies a venture, a venture born from the spirit of innovation and nurtured by the soils of opportunity. Yet, it is not within the corridors of small-scale industries, nor the vistas of tourism, nor the echoes of entrepreneurship and innovation that this venture finds its genesis. No, it is within the embrace of agriculture, the lifeblood of the region, that the North-East Venture Fund (NEVF) sets its sights, a testament to the commitment of NEDFi towards fostering sustainable growth and development. Let us celebrate this endeavor with reverence, for within its roots lies the promise of a greener, more resilient North-East, where the bounty of the land sustains the dreams of generations to come, flourishing amidst the harmony of nature and human endeavor.