Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 24th 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) The Reserve Bank of India (RBI) has decided to withdraw the Rs 2000 denomination banknotes from circulation.Under which section of the RBI Act 1934, RBI has the sole authority to issue banknotes in India?

(a) Section 21

(b) Section 22

(c) Section 35

(d) Section 42

(e) Section 19

2) Consider the following statement regarding the RBI report on Public sector banks' (PSB) cumulative profit. Which of the following statement is incorrect?

(a) Public sector banks' (PSB) cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023.

(b) These 12 PSBs witnessed 57%  increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.

(c) Bank of Maharashtra (BoM) had the highest net profit growth with 126% to Rs 2,602 crore, followed by UCO with 100% rise to Rs 1,862 crore and Bank of Baroda (BoB) with 94% increase to Rs 14,110 crore.

(d) SBI has reported an annual profit of Rs 50,232 crore in 2022-23, showing an increase of 59% over the preceding financial year.

(e) PNB posted a 17% decline in annual net profit from Rs 3,457 crore in 2021-22 to Rs 2,507 crore in the year ended March 2023.

3) Which of the following company has introduced the CVV free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or web page?

(a) NPCI

(b) VISA

(c) RuPay

(d) Mastercard

(e) American Express

4) Where was the International Museum Expo 2023 inaugurated by Prime Minister Narendra Modi?

(a) Bengaluru

(b) Chennai

(c) Mumbai

(d) Lucknow

(e) New Delhi

5) As per the data from the Bureau of Energy Efficiency (BEE), Ministry of Power, for split Room Air-Conditioners (RACs), the overall energy efficiency improvement is ____ for the 5-Star level.

(a) 58%

(b) 61%

(c) 46%

(d) 66%

(e) 73%

6) The Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar launched the 3rd Semicon India Future Design roadshow at which IIT?

(a) IIT Kanpur

(b) IIT Mandi

(c) IIT Bombay

(d) IIT Madras

(e) IIT Delhi

7) What is the name of the MoHUA’s mega campaign that was launched by the Minister for Housing and Urban Affairs Hardeep Singh Puri?

(a) Meri LiFE, Hamara Swachh Shehar

(b) Meri Save, Mera Swachh Shehar

(c) Meri LiFE, Mera Swachh Shehar

(d) HamaraLiFE, Mera Swachh Shehar

(e) HamariLiFE, Hamara Swachh Shehar

8) Under Azadi ka Amrit Kaal, Jal Jeevan Mission (JJM) celebrated a new milestone of ensuring safe and clean drinking water through taps to more than _______ rural households of India.

(a) 12 Crore

(b) 21 Crore

(c) 11 Crore

(d) 15 Crore

(e) 26 Crore

9) The Union Minister of Communications recently launched a citizen-centric ____________ portal to provide various reforms and services related to mobile connections and telecommunications.

(a) Clander Saathi

(b) Manthar Saathi

(c) Vidhar Saathi

(d) Sanchar Saathi

(e) Mahila Saathi

10) As per the new regulations by the National Medical Commission, Doctors will now have to get a UID to be able to practice medicine in India. What does ‘U’ denote in ‘UID’?

(a) User

(b) Ultimate

(c) Unique

(d) Universal

(e) Uniform

11) Which of the following organization has launched a global network to help swiftly detect the threat from infectious diseases (like COVID-19) and share the information to prevent their spread?

(a) UNEP

(b) UNESCO

(c) WEF

(d) UNICEF

(e) WHO

12) Recently, Telangana Home Minister Mohamood Ali launched________, an initiative towards making workplaces safer for women.

(a) VIKAS

(b) MAHAS

(c) BAKAS

(d) SAHAS

(e) LIGAS

13) Which bank has appointed Jayakumar S. Pillai as its Deputy Managing Director (DMD) for 3 years?

(a) RBL Bank

(b) YES Bank

(c) IDBI Bank

(d) ICICI Bank

(e) Federal Bank

14) Who has been appointed as the Minister of State (MoS) in the Health and Family Welfare Ministry?

(a) T.N. Manoharan

(b) Kiren Rijiju

(c) R.P. Vaishnaw

(d) Arjun Ram Meghwal

(e) S.P. Singh Baghel

15) Which of the following company has been selected as the kit sponsor for the Indian cricket team by the Board of Control for Cricket in India (BCCI)?

(a) Nike

(b) Puma

(c) Adidas

(d) Reebok

(e) None of the above

16) The ______ Scorpene Submarine of Project-75, Yard 11880, Indian Navy’s Kalvari class, ‘Vaghsheer’ commenced her sea trials.

(a) 4^th

(b) 7^th

(c) 5^th

(d) 6^th

(e) 3^rd

17) The Union Cabinet approved an MoU between the Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the __________.

(a) Argentina

(b) Oman

(c) UAE

(d) Maldives

(e) Norway

18) The Competition Commission of India (CCI) has recently approved the proposed merger of Credit Suisse Group AG with UBS Group AG.UBS Group AG based on which country?

(a) Australia

(b) Canada

(c) Norway

(d) Switzerland

(e) Hungary

19) Every year, Commonwealth Day has been celebrated on which of the following day?

(a) 21 May

(b) 22 May

(c) 24 May

(d) 23 May

(e) 25 May

20) The 'IFSC Code' is an alphanumeric code comprising 11 characters that facilitates electronic fund transfer in the country. What does “I” denote in IFSC?

(a) Intercontinental

(b) Inter-bank

(c) Institutional

(d) International

(e) Indian

Answers :

1) Answer: B

The Reserve Bank of India (RBI) has decided to withdraw the Rs 2000 denomination banknotes from circulation.

It asked all to exchange these notes by September 30, 2023.

The withdrawal is similar to a previous withdrawal of notes in 2013-2014 (and not the demonetization).

RBI’s 19 regional offices and other banks will start taking ₹ 2,000 notes for exchange with lower denomination one from May 23, 2023 to on or before Sep 30, 2023 (4 months).

In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of Rs 2,000 notes into notes of other denominations can be made up to a limit of Rs 20,000 at a time at any branch.

Reason behind its Withdrawal :

A majority (89%) of the ₹2000 denomination notes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years.

The total value of these banknotes in circulation has declined from ₹6.73 lakh crore at its peak of March 31, 2018 (37.3% of Notes in Circulation) to ₹3.62 lakh crore, constituting only 10.8% of Notes in Circulation on March 31, 2023.

Key Highlights :

The Clean Note Policy seeks to give the public good-quality currency notes and coins with better security features, while soiled notes are withdrawn out of circulation.

Clean Note Policy is a policy adopted by RBI to ensure availability of good quality banknotes to the members of the public.

The RBI had earlier decided to withdraw from circulation all banknotes issued prior to 2005 as they have fewer security features as compared to banknotes printed after 2005.

However, the notes issued before 2005 continue to be legal tender.

As per Section 22 of the RBI Act 1934, RBI has the sole authority to issue banknotes in India.

2) Answer: E

Public sector banks' (PSB) cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings.

Key Highlights :

From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results.

These 12 PSBs witnessed 57%  increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.

In percentage terms Pune-based Bank of Maharashtra (BoM) had the highest net profit growth with 126% to Rs 2,602 crore, followed by UCO with 100% rise to Rs 1,862 crore and Bank of Baroda (BoB) with 94% increase to Rs 14,110 crore.

However, in absolute terms, SBI has reported an annual profit of Rs 50,232 crore in 2022-23, showing an increase of 59% over the preceding financial year.

Except for the Punjab National Bank (PNB), other PSBs have reported impressive annual increases in their profit after tax.

PNB posted a 27% decline in annual net profit from Rs 3,457 crore in 2021-22 to Rs 2,507 crore in the year ended March 2023

The PSBs which reported an annual profit in excess of ₹10,000 crore are Bank of Baroda (₹14,110 crore) and Canara Bank ( ₹10,604 crore).

Other lenders like Punjab and Sind Bank posted an annual profit growth 26% ( ₹1,313 crore), Central Bank of India 51% ( ₹1,582 crore), Indian Overseas Bank 23% ( ₹2,099 crore), Bank of India 18% ( ₹4,023 crore), Indian Bank 34% ( ₹5,282 crore) and Union Bank of India 61% ( ₹8,433 crore)

3) Answer: C

RuPay has introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or web page.

RuPay is a home-grown card network developed by National Payments Corporations of India (NPCI).

Tokenization is a simple technology to secure card transactions without sharing clear or real card details with the merchants.

VISA has also launched CVV-free tokenized transactions for domestic payments in India adhering to the guidelines issued by the RBI.

About CVV :

Card Verification Value (CVV) is a three or four-digit number located on the back of a physical debit or credit card.

4) Answer: E

The Prime Minister, Shri Narendra Modi inaugurated the International Museum Expo 2023 at Pragati Maidan in New Delhi.

He also inaugurated a virtual walkthrough of the upcoming National Museum at the North and South Blocks.

The International Museum Expo is being organized as part of Azadi ka Amrit Mahotsav to celebrate the 47th International Museum Day.

The International Museum Expo is being organized as part of Azadi ka Amrit Mahotsav to celebrate the 47th International Museum Day (IMD).

 The IMD theme for this year is ‘Museums, Sustainability and Well Being’.

The Museum Expo is designed to initiate a holistic conversation on Museums with museum professionals to enable them to evolve as cultural centers that play a pivotal role in India’s cultural diplomacy.

The Mascot of the International Museum Expo is a contemporized version of the Dancing Girl made of wood in the Chennapatnam art style.

The Prime Minister also unveiled the Mascot of the International Museum Expo, the Graphic Novel – A Day at the Seum, the Directory of Indian Museums, the Pocket Map of Kartavya Path, and Museum Cards.

5) Answer: B

India’s energy efficiency policies have not only led to improvement in overall energy efficiency of Air-Conditioners but also accelerated the deployment of highly Energy Efficient inverter technology.

As per the data from the Bureau of Energy Efficiency (BEE), Ministry of Power, for split Room Air-Conditioners (RACs), the overall energy efficiency improvement is 43% for 1-Star and 61% for the 5-Star level. On the other hand, the overall energy efficiency improvement for window RACs is 17% for 1-Star and 13% for 5-Star level.

The Bureau of Energy Efficiency (BEE) launched the Star Labelling program for fixed-speed Room Air Conditioners (RACs) in 2006 as a voluntary initiative, and the program became mandatory in 2009.

BEE revised the energy performance thresholds (Minimum Energy Performance Standard-MEP) for RACs covered under the program on a biennial basis from 2009 - 2018.

In 2015, BEE launched a voluntary labelling program for inverter RACs, and made the program mandatory in January, 2018.

6) Answer: E

Union Minister of State for Electronics and Information Technology Shri Rajeev Chandrasekhar launched the 3rd Semicon India Future Design roadshow at IIT Delhi, with an aim to encourage innovation, facilitate investment and catalyse the Startups ecosystem in the semiconductor design and manufacturing space. 

The primary objective of this initiative is to attract investments from across the world and help build a vibrant semiconductor design and manufacturing ecosystem.

PM Modi ji has announced Rs 76,000 crores as outlay for semiconductor sector to fulfil the vision of AtmaNirbhar Bharat.

Already there are 27 semicon startups and the number will soon go up to 100.

These include setting up an Indian Semiconductor research center (ISRC) that will work in collaboration with top institutions like the IITs for coming up with cutting-edge semiconductor research.

The MeitY has set up ChipIN Centre at C-DAC Bangalore to dedicate its services to semiconductor design community of the country.

The facility acts as one-stop centre to provide semiconductor design tools, fab access, virtual prototyping hardware lab access to fabless chip designers from Startups and Academia.

The MoU s exchanged between C-DAC Bangalore and Ansys to nurture chip design using Ansys EDA tools hosted at ChipIN Centre.

7) Answer: C

Minister for Housing and Urban Affairs, Shri Hardeep S. Puri launched MoHUA’s mega campaign ‘Meri LiFE, Mera Swachh Shehar’.

Reuse and upcycling of common household goods has been an integral part of Indian culture.

Taking a cue from this shared habit, the Ministry of Housing and Urban Affairs (MoHUA)’s campaign titled – ‘Meri LiFE, Mera Swachh Shehar’ is launched to champion the RRR’s of waste management- Reduce, Reuse, and Recycle.

8) Answer: A

Under Azadi ka Amrit Kaal, Jal Jeevan Mission (JJM) celebrates a new milestone of ensuring safe and clean drinking water through taps to more than 12 Crore rural households of the country.

At the time of the announcement of launch of JJM by Prime Minister, Shri Narendra Modi from the ramparts of the Red Fort on 15th August 2019, only 3.23 Crore (16.64%) households in villages had access to piped water connection.

As on date, 5 States (Goa, Telangana, Haryana, Gujarat and Punjab) and 3 UTs (Puducherry, D&D and D&NH and A&N Islands), have reported 100% coverage.

Himachal Pradesh at 98.35%, followed by Bihar at 96.05%, are also poised to achieve saturation in the near future.

Goa, Haryana, Punjab, A&N Islands, Puducherry, D&NH and D&D are ‘Har Ghar Jal certified States/ UTs i.e., in these states/ UTs, the villagers have confirmed through Gram Sabhas that ‘all households and public institutions’ in the village are getting adequate, safe and regular supply of water.

In the 112 aspirational districts of our country, at the time of the launch of the Mission, only 21.64 lakh (7.84%) households had access to tap water which has now increased to 1.67 Crore (60.51%).

Working on the motto of Sabka Saath, Sabka Vikas, Sabka Vishwas aur SabkaPrayas, Jal Jeevan Mission is marching towards achieving SDG 6, i.e., safe and affordable water to all, through the provision of safe water through taps to all households, schools, anganwadis and other public institutions, in rural areas.

9) Answer: D

The Union Minister of Communications recently launched a citizen-centric Sanchar Saathi portal.

The portal aims to provide various reforms and services related to mobile connections and telecommunications.

It has been developed by C-DoT under the Department of Tele-communications (DoT) to prevent frauds such as identity theft, forged KYC, banking frauds etc.

The three reforms are being introduced as part of the portal's framework:

CEIR (Central Equipment Identity Register): It enables the tracking and blocking of lost or stolen phones anywhere in the country.

Know your mobile connections: It allows users to check the number of mobile connections issued in their name by logging in using their mobile number.

This feature helps identify any unauthorized or unwanted connections, which can be blocked immediately.

10) Answer: C

Doctors will now have to get a Unique Identification Number (UID) to be able to practice medicine in the country, as per the new regulations by the National Medical Commission (NMC).

NMC has been constituted by an act of Parliament known as the National Medical Commission Act, 2019.

It has replaced the Medical Council of India (MCI), constituted under the Indian Medical Council Act, 1956).

NMC regulates medical education and medical professionals.

The Commission grants recognition of medical qualifications gives accreditation to medical schools, grants registration to medical practitioners, monitors medical practice and assesses the medical infrastructure in India.

Headquarters: New Delhi ,

National Medical Commission consists of 33 members including Chairman (medical professionals only), 10 ex-officio members and 22 partime members.

11) Answer: E

The World Health Organization (WHO) has launched a global network to help swiftly detect the threat from infectious diseases, like COVID-19, and share the information to prevent their spread.

The International Pathogen Surveillance Network (IPSN) will provide a platform for connecting countries and regions, improving systems for collecting and analysing samples.

About IPSN :

The IPSN is a global network of pathogen genomic actors.

It is hosted by the WHO Hub for Pandemic and Epidemic Intelligence.

Aim :

To help ensure infectious disease threats are swiftly identified and tracked and the information shared and acted on to prevent catastrophes like the Covid pandemic.

The IPSN supports ongoing disease surveillance and will help detect and fully characterize new disease threats before they become epidemics or pandemics.

The network will rely on pathogen genomics to analyse the genetic code of viruses, bacteria and other disease-causing organisms to understand how infectious and deadly they are and how they spread.

COVID-19 highlighted the critical role pathogen genomics plays when responding to pandemic threats.

As pointed out by the WHO, without the rapid sequencing of the SARS CoV-2 virus, vaccines would not have been as effective and would not have become available as quickly.

12) Answer: D

Telangana Home Minister Mohammed Mahmood Ali launched the initiative called ‘Sahas’ in the presence of Director General of Police Anjani Kumar, Additional Director General of Police (DGP), Women Safety Wing Shikha Goel, Femina Miss India Manasa Varanasi and senior representatives from industry.

SAHAS, is the first of its kind initiative in the country, involving collaboration.

About SAHAS :

SAHAS, which means Courage, is a programme that aims at strengthening the support ecosystem for women who face workplace sexual harassment.

Under the initiative, the Sahas Microsite, SahasSathi Chatbot, SahasWhatsapp Number, Forum and online support facilities were launched.

13) Answer: C

The Board of Directors of IDBI Bank approved the appointment of Jayakumar S. Pillai as Deputy Managing Director (DMD) on the Bank’s Board for 3 years.

IDBI Bank has two Deputy Managing Director (DMD) positions.

It currently has one DMD -Suresh Khatanhar.

The other DMD - Samuel Joseph Jebaraj moved to the National Bank for Financing Infrastructure and Development (NaBFID) as Deputy Managing Director (Lending & Project Finance) in early April 2023.

14) Answer: E

Prof. S.P. Singh Baghel has been assigned as Minister of State (MoS ) in the Health and Family Welfare Ministry.

According to the Rastrapati Bhavan communique, the President as advised by the Prime Minister has allocated the portfolio.

Previously he was serving as MoS in the Law and Justice Ministry.

Earlier, MoS for Parliamentary Affairs and Culture, Arjun Ram Meghwal was assigned the independent charge as Minister of State in the Ministry of Law and Justice in addition to his existing portfolios.

Union Minister Kiren Rijiju who was serving as Union Minister for Law and Justice will hold the portfolio of the Ministry of Earth Sciences.

15) Answer: C

The Board of Control for Cricket in India (BCCI) has roped in German sportswear major Adidas as the kit sponsor for the Indian cricket team.

A kit sponsor offers money required for jerseys, pads, and helmets, among other things.

The current contract with kit partner, Kewal Kiran Clothing Ltd, maker of Killer Jeans, is set to expire by the month-end.

Killer Jeans had stepped in as an interim sponsor after Mobile Premier League Sports (MPL Sports) pulled out of the contract.

The deal with Adidas will take effect and reportedly the sports brand will sign a deal for 5 years.

India is scheduled to host the ICC Cricket World Cup in 2023 from October to November, which means fans will get to see the new Adidas kit soon.

The ICC Men's ODI World Cup 2023 is said to start from October 5 and end on November 19, 2023.

A total of 12 venues have been selected for the marquee event, with the final scheduled to be played in Ahmedabad, Gujarat.

 

16) Answer: D

The 6th Scorpene Submarine of Project-75, Yard 11880, Indian Navy’s Kalvari class, ‘Vaghsheer’ commenced her sea trials.

The submarine was launched on 20 Apr 22 from the KanhojiAngre Wet Basin of Mazagon Dock Shipbuilders Limited (MDL).

Vaghsheer is scheduled for Delivery to the Indian Navy in early 2024 after completion of these trials.

MDL has ‘Delivered’ three submarines of the Project – 75 in 2 years (24 months) & the commencement of sea trials of the 6th submarine is a significant milestone.

This is indicative of the boost towards AatmaNirbharBharat.

The submarine will now undergo intense trials of all its systems at sea, these include propulsion systems, weapons and sensors.

17) Answer: D

The Union Cabinet, chaired by the Hon'ble Prime Minister Shri Narendra Modi approved the signing of the Memorandum of Understanding between the Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the Maldives (CA Maldives).

ICAI and CA Maldives aim to establish mutual co-operation for the advancement of Accounting Knowledge, Professional and Intellectual Development, Advancing the interests of their respective members and positively contributing to the development of the Accountancy Profession in the Maldives and India.

18) Answer: D

Fair-trade regulator Competition Commission of India (CCI) approved the proposed merger of Credit Suisse Group AG with UBS Group AG.

The proposed combination relates to the proposed acquisition of Credit Suisse by UBS through an absorption merger and UBS will be the surviving legal entity thereafter.

Following the transaction, all assets, liabilities and contracts of Credit Suisse will be transferred entirely to UBS.

The proposed transaction was necessitated by Credit Suisse's financial difficulties.

About UBS Group AG (UBS) :

The UBS Group AG (UBS) is a multinational investment bank and financial services company founded and based in Switzerland, and active globally.

19) Answer: C

Commonwealth Day is celebrated every year on May 24.

The theme for Commonwealth Day 2023 was 'Forging a sustainable and peaceful common future'.

This day is observed as a holiday in parts of the Commonwealth of Nations.

Commonwealth Day is celebrated to remind the Birth Anniversary of Queen Victoria

Empire Day was first observed in the UK in 1904 by Reginald Brabazon.

This day is observed on the birth anniversary of Queen Elizabeth.

In the era of 1977, Commonwealth Day was observed on the second Monday in March.

This day was observed by the Commonwealth of Nations.

In 1898, Canadian leader Clementina Trenholme introduced an Empire Day to Ontario schools on Queen Victoria’s birthday.

British Empire League promoted this Commonwealth Day formerly known as Empire Day as a holiday.

Usually, all over the world, Commonwealth Day is observed on the second Monday of March every year.

20) Answer: E

IFSC is an acronym for Indian Financial System Code. IFSC code is a unique eleven-digit number which is a combination of alphabets and numerals. It is used to transfer funds online for NEFT, IMPS and RTGS transactions. Usually, this code can be found on the chequebook provided by the bank.