Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 16th May 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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1) RBI has announced a ‘100 Days 100 Pays’ campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days. Which of the followingstatement/s about unclaimed deposits is/are correct?

(i) Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as "unclaimed deposits".

(ii) The amounts in unclaimed deposits are transferred by banks to the "Depositor Education and Awareness" (DEA) Fund maintained by the Government of India.

(iii) Depositor Education and AwarenessFund maintained by the Indian Banks Association (IBA).

(a) Only (i)

(b) Only (i) and (iii)

(c) Only (ii)

(d) Only (ii) and (iii)

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

2) RBI has issued an advisory to banks and other RBI-regulated entities, emphasizing the need to take steps to ensure a complete transition from the LIBOR from July 1, 2023.Which of the followingorganizationpublishes LIBOR?

(a) Basel Committee on Banking Supervision

(b) Intercontinental Exchange Inc

(c) Bank for International Settlement

(d) S&P Global Ratings

(e) International Finance Corporation

3) EXIM Bank is expected to operationalize its proposed GIFT City subsidiary for trade finance by the third quarter (Q3) of the current financial year (FY24). What is the name of the proposed subsidiary?

(a) India EXIM Finserv Private Ltd.

(b) EXIM Finserv IFSC Private Ltd.

(c) IFSC EXIM India Finserv Private Ltd.

(d) India EXIM Finserv IFSC Private Ltd.

(e) IFSC EXIM Finserv Private Ltd.

4) In May 2023, Profectus Capital Private Limited received the Certificate of Registration (CoR) from RBI to provide factoring services to the MSMEs. Which of the following acts deals with factoring services in India?

(a) Reserve Bank of India Act, 1934

(b) Negotiable Instruments (Amendment) Act, 2015

(c) Payment and Settlement Systems (Amendment) Act, 2015

(d) Banking Regulation Act, 1949

(e) None of the above

5) Which of the following category of people are the targets for Kotak Mahindra Bank Limited’s newly launched Privy League programme?

(a) Person of Indian Origin

(b) Non-Resident Indians

(c) High-net-worth people

(d) Salaried People

(e) All of the above

6) In May 2023, World Bank approved $82 million as a loan to India towards the adoption of global best practices for animal health management.Which of the following statement/s about this financial assistanceis/are incorrect?

(i) The loan amount of$82 million is provided by the International Bank for Reconstruction and Development (IBRD).

(ii) This loan uses the program-for-results (PforR) financing instrument that links the disbursement of funds directly to the achievement of specific program results.

(iii) The loan has a maturity of 10 years with a grace period of 4.5 years.

(a) Only (i)

(b) Only (i) and (iii)

(c) Only (iii)

(d) Only (ii) and (iii)

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

7) The RBI’s report on Currency and Finance (RCF) for the year 2022-23 states that India’s green financing requirement is estimated to be at least 2.5% of GDP annually till 2030. What is the theme of the report?

(a) Greener India Cleaner India

(b) Towards Cleaner and Greener India

(c) Towards a Greener Cleaner India

(d) Towards a Cleaner Greener India

(e) Cleaner India Greener India

8) In May 2023, Home Ministry announced that the comprehensive ‘Model Prisons Act, 2023’ has been finalized. Which of the following organization has assigned the task of revision of the Prisons Act, 1894?

(a) NITI Aayog

(b) National Human Rights Commission of India

(c) Sardar Vallabhbhai Patel National Police Academy

(d) Bureau of Police Research and Development

(e) None of the above

9) As of May 2023, the Ministry of Railways has covered 728 railway stations across the country with more than 700 One Station One Product (OSOP) outlets. Which of the following designs OSOP outlets?

(a) Integral Coach Factory, Tamil Nadu

(b) National Academy of Indian Railways, Gujarat

(c) Modern Coach Factory, Uttar Pradesh

(d) Indian Railway Institute of Civil Engineering, Maharashtra

(e) None of the above

10) What is the name of the portal developed by the Department of Telecom that allows users to block and track their lost or stolen mobile phones across India?

(a) Sarkar Sakthi

(b) Sarkar Saathi

(c) Sanchar Saathi

(d) Sanchar Sakthi

(e) None of the above

11) In May 2023, Pakistan, China and Afghanistan agreed to forge closer economic ties by extending the China-Pakistan Economic Corridor (CPEC) to Afghanistan.When was China-Pakistan Economic Corridor (CPEC) established?

(a) 2010

(b) 2012

(c) 2013

(d) 2015

(e)2017

12) In May 2023, Assam Chief Minister ceremonially dedicated ‘Digitizing Asom,”. Which of the following foundation’s initiative is Digitizing Asom?

(a) Mannat Foundation

(b) Raman Kant Munjal Foundation

(c) Jindal Stainless foundation

(d) Nanda Talukdar Foundation

(e) Ramanbhai foundation

13) In which of the following state will Mitsubishi Electric India (MEI) invest ₹1,891 crores in a new air-conditioner and compressor factory project?

(a) Gujarat

(b) Rajasthan

(c) Haryana

(d) Punjab

(e) Tamil Nadu

14) Agritech firm Rukarthas tied up with which of the following banks to help potential customers in getting easy loan options to buy the product?

(a) Canara Bank

(b) Bank of Baroda

(c) Union Bank of India

(d) State Bank of India

(e) UCO Bank

15) Which of the following company currently owns Alliance Air?

(a) Air India

(b) Air Asia

(c) Tata Sons

(d) AI Assets Holding

(e) Spice Jet

16) To which of the following countries has India extended a $1 billion credit line by one year, in May 2023?

(a) Myanmar

(b) Nepal

(c) Sri Lanka

(d) Bhutan

(e) Pakistan

17) Which of the following countries’ Senate has confirmed Dr Geeta Rao Guptafor the position of Ambassador-at-Large for the Office of Global Women's Issues in the State Department?

(a) England

(b) Canada

(c) Spain

(d) USA

(e) Australia

18) What is the name of the world’s first integrated machine installed by CML Biotech Ltdfor manufacturing blood collection tubes?

(a) Husty –Icoll

(b) Husky –Ion

(c) Husty –Iron

(d) Husky –Ichor

(e) Husty –Ichor

19) In May 2023, Indian boxers Deepak Kumar, Mohammed Hussamuddin and Nishant Dev won bronze medals at the IBA Men's World Boxing Championship 2023 held in Tashkent, Uzbekistan. Which of the following is the currency of Uzbekistan?

(a) Peso

(b) Pound

(c) Dinar

(d) Som

(e) Yuan

20) Jayant Naralikar conferred the first Govind Swarup Lifetime Achievement Award instituted by the Astronomical Society of India (ASI).When was the Astronomical Society of India established?

(a) 1942

(b) 1952

(c) 1962

(d) 1972

(e) 1982

Answers :

1) Answer: A

The Reserve Bank of India (RBI) announced a ‘100 Days 100 Pays’ campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days.The banks will commence the campaign from June 1, 2023.

Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as "unclaimed deposits".

These amounts are transferred by banks to the "Depositor Education and Awareness" (DEA) Fund maintained by the RBI.

The issues related to unclaimed deposits were also discussed during the meeting of the high-powered Financial Stability and Development Council (FSDC) headed by finance minister Nirmala Sitharaman.

2) Answer: B

The Reserve Bank of India (RBI) has issued an advisory to banks and other RBI-regulated entities, emphasising the need to take steps to ensure a complete transition from the London Interbank Offered Rate (LIBOR) from July 1, 2023.

RBI has advised the "Banks/financial institutions (FIs) are advised to ensure that no new transactions undertaken by them or their customers rely on or are priced using the US$ LIBOR or the Mumbai Interbank Forward Outright Rate (MIFOR).

RBI has advised the banks/FIs to take all necessary steps to ensure insertion of fallbacks at the earliest in all remaining legacy financial contracts that reference US$ LIBOR.

RBI stated that Financial Benchmarks India Pvt. Ltd. (FBIL) will stop publishing the MIFOR after June 30, 2023.

The London Interbank Offered Rate (LIBOR) is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. The rate is calculated and published each day by the Intercontinental Exchange (ICE), but due to recent scandals and questions around its validity as a benchmark rate, it is being phased out.

3) Answer: D

EXIM (Export-Import) Bank is expected to operationalise its proposed GIFT City subsidiary for trade finance by the third quarter (Q3) of the current financial year (FY24).

The proposed subsidiary is set to be named India EXIM Finserv IFSC Private Ltd. Initially, the subsidiary arm will focus on international export factoring.EXIM Bank plans to raise $4 billion via overseas debt.It plans to raise ₹40.000-45,000 crore in the domestic market in FY24, against ₹52,000 crore in FY23.

4) Answer: E

Non-banking financial company (NBFC) Profectus Capital Private Limited has received the Certificate of Registration (CoR) under the Factoring Regulations Act, 2011 from the Reserve Bank of India (RBI) to provide factoring services to Micro, Small and Medium Enterprises (MSMEs).Profectus Capital plans to offer timely and efficient factoring services to improve their working capital management, boost their businesses, and receive short-term finance to fund operations.Profectus will continue to focus on select manufacturing and service sectors based on its cluster-based lending approach.

Found in 2017, Profectus Capital, backed by global private equity firm Actis, provides financial solutions to MSMEs in select manufacturing and services sector and has catered to enterprises in education, pharmaceuticals, healthcare, food processing, engineering and machine tools, printing and packaging, textiles, chemicals, and plastics.

5) Answer: C

Kotak Mahindra Bank Limited (KMBL) announced the launch of its all-new Privy League programme, an exclusive premium banking programme with unique lifestyle benefits and bespoke financial solutions tailored to high-net-worth people (HNI).

Privy League, was designed to honour their customers’ achievements by providing them with unrivalled lifestyle experiences and superior banking services.

The Premium Metal Debit Card for the Privy League black tier, designed by famous artist Arunanshu Chowdhury, allows clients to enjoy premium bargains, complimentary airport lounge access, and many other privileges.

6) Answer: C

The World Bank has approved $82 million as a loan to India towards the adoption of global best practices for animal health management. The objective is to develop systems to prevent, detect, and respond to endemic zoonotic, transboundary, and emerging infectious diseases. The funding will strengthen India’s ‘One Health’ approach, which recognises that people and animals are connected with their shared environment.

The $82 million loan from the International Bank for Reconstruction and Development (IBRD) uses the program-for-results (PforR) financing instrument that links disbursement of funds directly to the achievement of specific program results.

The loan has a maturity of 11.5 years with a grace period of 4.5 years.

7) Answer: C

The RBI has released a report on Currency and Finance (RCF) for the year 2022-23. The report’s theme is “Towards a Greener Cleaner India”. The Report covers four major dimensions of climate change to assess future challenges to sustainable high growth in India, namely, the unprecedented scale and pace of climate change; its macroeconomic effects; implications for financial stability; and policy options to mitigate climate risks.

The Reserve Bank of India’s (RBI’s) report on Currency and Finance (RCF) for the year 2022-23 states that India’s green financing requirement is estimated to be at least 2.5% of Gross domestic product (GDP) annually till 2030.

8) Answer: E

With the objective of holistically providing guidance and addressing the gaps in the existing Prisons Act, MHA under the able guidance of Home Minister Shri Amit Shah, finalises a comprehensive ‘Model Prisons Act, 2023’, which may serve as a guiding document for the States.

The new Prisons Act will lay more emphasis on the safety of women & transgender prisoners and bring about transparency in prison management and provide for the correction and rehabilitation of prisoners.

The Ministry of Home Affairs assigned the task of revision of the Prisons Act, 1894 to the Bureau of Police Research and Development. The Bureau, after holding wide ranging discussions with State Prison authorities, correctional experts etc. prepared a draft.

9) Answer: D

The Ministry of Railways has covered 728 railway stations across the country with more than 700 One Station One Product (OSOP) outlets. The move aims to promote ‘Vocal for Local’ vision and to provide a market to sell local or indigenous products. This will boost the economic growth of the region as well as create employment opportunities for the marginalised sections of society.

The pilot of the OSOP scheme was started on March 25, 2022. As on May 01, 2023, a total of 785 outlets have been opened at 728 stations in 21 states and 3 Union Territories (UTs). The OSOP stalls have been designed by the National Design Institute for uniformity.

10) Answer: C

Department of Telecom has launched the Sanchar Saathi portal that allows users to block and track their lost or stolen mobile phones across India. People will also be able to check the genuineness of a used device before buying.

The Sanchar Saathi facilities have been developed by C-DoT. The technology development arm under the Department of Telecom has been able to add feature to check use of cloned mobile phones across all telecom networks.

11) Answer: D

Pakistan, China and Afghanistan have agreed to forge closer economic ties by extending the Beijing-backed China-Pakistan Economic Corridor (CPEC) to Afghanistan.

Pakistan Foreign Minister Bilawal Bhutto Zardari, his Chinese counterpart Qin Gang and Afghanistan’s Taliban-appointed acting Foreign Minister Mawlawi Amir Khan Muttaqi held the 5th China-Afghanistan-Pakistan Foreign Ministers’ Dialogue.During the dialogue, foreign ministers of 3 countries underlined the need to prevent any group from using their territories for terror activities.The 3 foreign ministers emphasised the importance of current initiatives, including CASA-1000, TAPI, and Trans-Afghan Railways etc., to improve regional connectivity.

This was the first foreign ministers’ dialogue between Pakistan, China and Afghanistan since the Taliban returned to power in Afghanistan in 2021.

China-Pakistan Economic Corridor (CPEC) was established  in 20 April 2015. CPEC is officially regarded as the flagship project of China’s Belt and Road Initiative (BRI).

12) Answer: D

Assam Chief Minister Shri HimantaBiswa Sarma ceremonially dedicated ‘Digitizing Asom,” a community project aimed at digitization of rare Assamese journals and books published between 1813 and 1970, for public use at an event organised at the Janata Bhawan in Guwahati, Assam. Digitizing Asom is an initiative of the Nanda Talukdar Foundation and is supported by the Assam JatiyaBidyalay Educational and Socio-Economic Trust.

It seeks to digitize every possible rare Assamese language book and journal, regardless of their location, and make them available to the public through the website www.assamarchive.org.

It can be accessed free of cost.

13) Answer: E

Mitsubishi Electric India (MEI), a part of the $37 billion Japanese major Mitsubishi Electric, will invest ₹1,891 crore in a new air-conditioner and compressor factory project near Chennai, Tamil Nadu (TN).

The foundation stone was laid by Chief Minister Shri M K Stalin.

This is the company’s first such plant in India to be set up to meet the rising demand for air conditioners in the country.

Top officials of Mitsubishi Electric India entered into a memorandum of understanding (MoU) with Guidance Tamil Nadu (TN), an investment promotion agency of the state of TN, to set up the factory.

14) Answer: D

Agritech firm Rukart, which sells 'Subjee Cooler' to enhance shelf life of fruits and vegetables, has tied up with SBI to help potential customers in getting easy loan options to buy the product.

It increases the shelf life of fruits, flowers and vegetables by 4-6 days.The cost of the product is Rs 50,000 each and one Subjee Cooler has a storage capacity of 100 kg.Founded in May 2019, Rukart manufactures Subjee Cooler, a cold chain storage system that requires only 20 liters of water a day to function.

15) Answer: D

The government is all set to make an equity infusion of Rs 300 crore in Alliance Air. Alliance Air, which earlier was a part of Air India, is currently owned by AI Assets Holding Ltd (AIAHL), a special-purpose vehicle formed by the central government.

The government's move might help the company to fade the impact of the financial headwinds that it has been facing.The finance ministry has approved an equity infusion of Rs 300 crore into Alliance Air.Flights under 'Alliance Air' brand are operated by Airline Allied Services, which changed its name to Alliance Air Aviation Ltd.

16) Answer: C

India has extended a $1 billion credit line for Sri Lanka by one year,giving the crisis-hit country a backup funds to pay for essential imports. The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka's financial crisis early last year, was scheduled to end in March.

Post-negotiations, the credit line was extended until March 2024.There is about $350 million left of the credit line that can be utilised as needed.

17) Answer: D

The US Senate confirmed Dr Geeta Rao Gupta, an Indian-American, for the position of Ambassador-at-Large for the Office of Global Women's Issues in the State Department.President Joe Biden nominated Gupta for this role, and she received confirmation with a vote of 51 to 47 earlier this week.She will promote women's and girl child's rights keeping in mind the US foreign policy.

18) Answer: D

Angamaly-based CML Biotech Ltd., one of the largest manufacturers of blood collection tubes in India, has installed the world’s first integrated machine ‘Husky –Ichor’, for manufacturing blood collection tubes.

The integrated machine comprises machine mould, hot runner, dowser, dehumidifier, chiller, temperature controller and dryer. Normally, these functions are carried out in different machines. The machine is manufactured by Canada-based Husky Technologies, a global leader in injection moulds and moulding machines. The machine, set up at a cost of ₹12 crore, is capable of manufacturing 8 lakh blood collection tubes per day.

19) Answer: D

Indian boxers Deepak Kumar, Mohammed Hussamuddin and Nishant Dev made the country proud by winning bronze medals at the IBA Men's World Boxing Championship 2023 held in Tashkent, Uzbekistan.

India scripted history when Deepak Bhoria in 51kg, Mohammad Hussamuddin in 57kg, and Nishant Dev in 71kg won their respective quarterfinal bouts.

This is the first time that Indian men’s boxers will bring home three medals from a World Championship.

In the first quarter-final, Deepak defeated DyushebaevNurzhigit of Kyrgyzstan.

Two-time Commonwealth Games bronze medalistHasamundin won a close contest against Bulgaria's J Diaz Ibanez.

Nishant Dev defeated Jorge Cuellar of Cuba 5-0.

Som is the currency of Uzbekistan.

and other similar activities.

20) Answer: D

Veteran astronomer Jayant Naralikar was conferred the first Govind Swarup Lifetime Achievement Award instituted by the Astronomical Society of India (ASI).

Naralikar, a past president of ASI, was the founding director of the Inter-University Centre for Astronomy and Astrophysics (IUCAA) and amongst the first to initiate cosmology research in the country.

The Astronomical Society of India was established in 1972 and has grown to become the prime association of professional astronomers in India. The society has close to 1000 members. The objectives of the society are the promotion of Astronomy and related branches of science in India. The society organizes scientific meetings and supports the popularization of Astronomy