Home » Daily Current Affairs Quiz – 04th May 2023

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 04th 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) As per the recent (May 2023) data from the Insurance Regulatory and Development Authority (IRDAI), Market share of PSU general insurers dropped by______in 5 years.

(a) 300 bps

(b) 800 bps

(d) 600 bps

(e) 500 bps

2) Which of the following company has bought First Republic Bank as the third major US bank fails in two months?

(a) Citigroup

(b) Goldman Sachs

(d) Wells Fargo

(e) American Express

3) Which Payment Bank has collaborated with the National Payments Corporation of India (NPCI) to roll out Face Authentication for AePS at its 500,000 banking points?

(a) India Post Payments Bank

(b) Fino Payments Bank

(d) Paytm Payments Bank

(e) Airtel Payments Bank

4) According to the Asian Development Bank (ADB) Annual Report 2022, Which country became the largest recipient of the ADB-funded programs/projects?

(a) India

(b) Russia

(d) Pakistan

(e) Afghanistan

5) Name the app that was recently launched by the Union Minister of Rural Development & Panchayati Raj during the National Panchayat Awards Week.

(a) PM PANTRA

(b) GS NIRNAY

(d) NP VINAY

(e) RD BINDRA

6) Where was India & Asia’s first mobile biosafety level-3 (BSL-3) laboratory displayed at the second Group of 20 (G20) Health Working Group Meeting held?

(a) Tripura

(b) Goa

(d) Punjab

(e) Mizoram

7) India’s Clean Hydrogen Mission Gets a Boost with Hydrogen Valley Project in which of the following state?

(a) Uttarakhand

(b) Meghalaya

(d) Uttar Pradesh

(e) Gujarat

8) Which state government has launched its first flight on a non-UDAN route under a viability gap funding provision?

(a) Assam

(b) Karnataka

(d) Kerala

(e) Maharashtra

9) Which organization has released the Future of Jobs Report 2023, that 69 million jobs will be created by 2027 while 83 million will be eliminated?

(a) UNEP

(b) World Bank

(d) WEF

(e) ILO

10) Which of the following organization has signed an MoU with Business Russia to promote trade and investments between the two countries?

(a) FICCI

(b) ASSOCHAM

(d) SIDBI

(e) EXIM

11) Who has been appointed as the Chairman of the Atomic Energy Commission and the secretary of the Department of Atomic Energy?

(a) Prashant Kishor

(b) Hardik Patel

(d) Sanjit Narwekar

(e) Ajit Kumar Mohanty

12) Which of the following organisation along with Indian Navy have conducted the successful maiden test trial of ‘ADC-150’ from IL 38SD aircraft off the coast of Goa?

(a) Hindustan Aeronautics Limited

(b) Bharat Heavy Electricals Limited

(d) Garden Reach Shipbuilders and Engineers

(e) Indian Space Research Organisation

13) Where was the first-ever ASEAN-India maritime exercise (AIME-2023) held?

(a) Cambodia

(b) Thailand

(d) Singapore

(e) Indonesia

14) Which of the following IITs has developed a Machine Learning-based computational tool Named ‘GBM Driver’?

(a) IIT Madras

(b) IIT Guwahati

(d) IIT Mandi

(e) IIT Kharagpur

15) Which company has announced that it will set up the First Green Hydrogen Microgrid Project in Leh Region for one of India’s major hydro-power companies?

(a) 3D Technologies

(b) Ace Technologies

(d) Uneecops Technologies

(e) Genomics Technologies

16) CoRover has collaborated with the Life Insurance Corporation of India (LIC) to launch the conversational Artificial Intelligence (AI)-powered chatbot named _____________.

(a) LIC Amar

(b) LIC Bantra

(d) LIC CoRov

(e) LIC Rev

17) Which company has inaugurated India’s first commercial lithium-Ion (Li-ion) cell manufacturing facility on its campus in Jakkur, Bengaluru, Karnataka?

(a) Technova System

(b) Connect8 Materials

(d) Nano Technologies

(e) Log9 Materials

18) Who became China’s first male world chess champion after beating Russian grandmaster Ian Nepomniachtchi in the final rapid tiebreak game of the FIDE World Championship 2023?

(a) Li Chao

(b) Ding Liren

(d) Wei Yi

(e) Tan Zhongyi

19) Who is the author of the new book titled “Made In India: 75 Years of Business and Enterprise”?

(a) Amitabh Kant

(b) Arundhati Roy

(d) Vikram Sampath

(e) Kiran Desai

20) Every year, Coal Miners Day has been celebrated on which of the following day?

(a) 3 May

(b) 5 May

(d) 2 May

(e) 6 May

Answers :

1) Answer: B

The 4 public sector general insurance companies – New India Assurance, United India Insurance, Oriental Insurance, and National Insurance Company have lost 800 basis points (bps) in market share in the last 5 years to their private counterparts, the data from the Insurance Regulatory and Development Authority (IRDAI) revealed.

In 2018-19, the 4 had a cumulative market share of 40.04%, with New India Assurance having a market share of 14% and United India Insurance with a market share of 9.63%.

But, gradually in the past 5 years, these state-backed firms have lost their market share to private sector players, due to the declining health of their business.

The latest data shows that at the end of FY23, the market share of these firms cumulatively declined to 32.37% a drop of 803 bps.

Key Highlights :

Among the 4 insurers, New India Assurance witnessed a marginal fall in its market share, of just 64 bps and maintained its position as India’s leading general insurer.

The other 3, witnessed a considerable erosion in their market standing. Kolkata-based National Insurance Company saw the most erosion in market share of over 300 bps, followed by United India Insurance (276 bps), and Oriental Insurance (171 bps).

2) Answer: C

United States (US) regulators stated that First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co, in what is the third major U.S. institution to fail in 2 months.

The banking giant will take $173 billion of loans and about $30 billion of securities from First Republic Bank, including $92 billion of deposits.

The California Department of Financial Protection and Innovation announced that it had taken possession of First Republic and that the Federal Deposit Insurance Corporation (FDIC) would act as its receiver.

The rescue comes less than 2 months after Silicon Valley Bank and Signature Bank failed amid a deposit flight from U.S. lenders, forcing the Federal Reserve to step in with emergency measures to stabilize markets.

Those failures came after crypto-focused Silvergate voluntarily liquidated.

The failed bank’s 84 offices in 8 states will reopen as branches of JPMorgan Chase Bank.

JPMorgan has been on an acquisition spree since 2021, acquiring more than 30 companies in deals worth more than $5 billion combined.

3) Answer: E

Airtel Payments Bank (APB) has collaborated with the National Payments Corporation of India (NPCI) to roll out Face Authentication for AePS (Aadhaar-enabled Payment System) at its 500,000 banking points.

Airtel Payments Bank is amongst the first 4 banks to offer Face Authentication for AePS in the country.

Key Highlights :

NPCI’s AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account.

4) Answer: D

According to the Asian Development Bank (ADB) Annual Report 2022, Pakistan became the largest recipient of ADB-funded programs/projects, receiving loans of USD 5.58 billion out of total loans of USD 31.8 billion to 40 countries.

Pakistan is facing a deep economic crisis and it received concessional funding of USD 2.67 billion from the bank.

Key Highlights :

The report highlighted the region’s vulnerability to climate change as Pakistan was also hit by devastating floods that killed more than 1,700 people, directly affected 33 million people, caused damages in billions of dollars, and worsened an already fragile economic situation.

ADB committed $3.7 billion from the program in 2022, including essential food assistance for those in need, including women and girls, in Afghanistan (using UN systems), Pakistan and Sri Lanka.

Afghanistan and Pakistan were severely impacted by rising food and energy prices.

5) Answer: B

The GS NIRNAY app was recently launched by the Union Minister of Rural Development & Panchayati Raj during the National Panchayat Awards Week.

It stands for Gram Sabha National Initiative for Rural India to Navigate, InnovAte and Resolve PanchaYat

The recordings made through this app will provide a means of verification of facts in case of queries that may arise regarding the resolutions undertaken during the Gram Sabha.

It will also serve as a valuable repository of information for future reference.

National Panchayat Awards Week Theme: Panchayaton ke Sankalpon ki Siddhi ka Utsav.

6) Answer: B

India’s & Asia’s first mobile biosafety level-3 (BSL-3) laboratory was displayed at the second Group of 20 (G20) Health Working Group Meeting which began in Goa.

The lab, which has been named RAMBAAN (Rapid Action Mobile BSL3+ Advanced Augmented Network), is a mobile clinic, country’s first state-of-the-art health infrastructure for pandemic preparedness.

Key Highlights :

The made-in-India mobile clinic RAMBAAN can be used to reach remote regions to carry out testing.

The GPS-enabled technology allows the bus to transfer the test report instantly.

G20 countries can collaborate with common concerns.

This bus can be a boon in tackling health situations.

All chemical waste is treated so there’s no chance of any infection.

The lab is equipped with a -20 degree and a -80 degree refrigerator, bio-safety cabinets, an automatic ribonucleic acid (RNA) extractor, and a real-time PCR machine.

7) Answer: E

India’s Clean Hydrogen Mission Gets a Boost with Hydrogen Valley Project in Gujarat.

Aim :

To develop a localized hydrogen value chain where it can serve more than one end-sector or application in mobility, industry, and energy.

The meeting was jointly organized by iCreate in collaboration with the Department of Science and Technology, Government of India, and the Office of the Principal Scientific Adviser to the Government of India.

Sunil Parekh, a Board Member of the FICCI National Executive Council, served as one of the co-chairs for the event.

Key Highlights :

The Hydrogen Valley Innovation Cluster in Gujarat will be a part of India’s efforts to develop clean Hydrogen Valleys by 2030.

8) Answer: A

The first flight on a non-UDAN route under viability gap funding provided by the Assam government was launched with starting service on the Guwahati-Dibrugarh-Guwahati sector.

It is the first route on which flight service has been launched by Assam Tourism Development Corporation (ATDC) in the non-UDAN routes, with the Assam government providing viability gap funding.

The inaugural flight was flagged off by Assam Tourism Minister Jayanta Mallabaruah from Lokpriya Gopinath Bordoloi International Airport.

It will leave Guwahati in the morning and return from the eastern town of Dibrugarh on a daily basis.

The ticket price for flights under the scheme has been capped at ₹4,500 per ticket and the state government will pay the viability gap.

9) Answer: D

The World Economic Forum (WEF) has released the Future of Jobs Report 2023.

In the report presents data related to jobs in the next five years worldwide.

As per the report, around a quarter of jobs known will get wiped out by 2027.

It shows that 69 million jobs will be created by 2027 while 83 million will be eliminated. 14 million jobs will get lost during this period.

This report is based on a survey conducted across 45 countries on 803 companies.

673 existing jobs in the companies have been considered for the study.

The report suggests that the fastest-growing jobs will be available for AI and machine learning specialists, sustainability specialists, business intelligence analysts and information security specialists.

The job growth will be witnessed in the field of education, agriculture and digital commerce.

Big data specialists, AI machine learning specialists and cybersecurity professionals are expected to grow on average by 30% by 2027.

10) Answer: C

Apex exporters body Federation of Indian Export Organisations (FIEO) has signed an MoU with Business Russia to promote trade and investments between the two countries.

It said the two organizations will cooperate to arrange exhibitions, buyers-sellers’ meetings, workshops, seminars and encourage enterprises to work in tandem with their counterparts for joint ventures.

The Memorandum of Understanding (MoU) was inked during a visit of a 50-member delegation of the agro and food processing sector to Moscow.

N K Kagliwal is leading the business delegation.

Federation of Indian Export Organisations is the apex trade promotion organisation in India set up by the Ministry of Commerce, the Government of India, and the private trade and industry segment in 1965.

11) Answer: E

Renowned physicist and Director of the Bhabha Atomic Research Centre (BARC) Ajit Kumar Mohanty has been appointed as the chairman of the Atomic Energy Commission and the secretary of the Department of Atomic Energy.

Mohanty succeeds K N Vyas to the posts that oversee India’s nuclear programme and forays into harnessing atomic power for civilian needs.

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Mohanty till the age of 66 years i.e. up to 10.10.2025 or until further orders, whichever is earlier.

Mohanty was appointed as BARC director in March 2019.

12) Answer: C

The Defence Research & Development Organisation (DRDO) and Indian Navy (IN) conducted the successful maiden test trial of ‘ADC-150’ from IL 38SD aircraft off the coast of Goa.

The trial was conducted to enhance the naval operational logistics capabilities by providing quick response to meet the requirement of critical engineering stores to ships (under distress), which are deployed more than 2,000 kms from the coast.

It reduces the requirement of ships to come close to the coast to collect spares and stores.

About ADC-150 :

ADC-150 is an indigenously designed and developed Air Droppable Container with 150 kg payload capacity.

3 DRDO laboratories – Naval Science & Technological Laboratory (NSTL), Visakhapatnam; Aerial Delivery Research & Development Establishment (ADRDE), Agra and Aeronautical Development Establishment (ADE), Bengaluru – have been involved in the development of ADC-150 container.

13) Answer: D

India sent two frontline warships to take part in the first-ever ASEAN-India maritime exercise (AIME-2023).

The maiden exercise will be conducted off the coast of Singapore and will feature harbor and at-sea events off the coast of Singapore.

The week-long drills (May 2-8, 2023) aimed at “enhancing interoperability and exchange of best practices among participating navies” is expected to be inaugurated by Indian Chief of Naval Staff Admiral R Hari Kumar.

From May 2-4 the Harbour Phase of the exercise will be conducted at Changi Naval Base and followed by the Sea Phase to be conducted from May 7-8, in the South China Sea.

About AIME-2023 :

AIME-2023 is the first time India has been involved in exercises with the ASEAN though there have been exercises with ASEAN nations separately.

14) Answer: A

Indian Institute of Technology Madras (IIT Madras) researchers have developed a Machine Learning-based computational tool Named ‘GBMDriver’

(GlioBlastoma Mutiforme Drivers) for better detection of cancer-causing tumours in the brain and spinal cord.

Prof. M. Michael Gromiha of the IIT Madras Department of Biotechnology functioned as the project’s lead researcher.

Key Highlights :

The GBMDriver, a freely accessible web server, was developed primarily to identify driver mutations and passenger mutations (neutral mutations) in Glioblastoma, a rapidly and aggressively proliferating tumor in the brain and spinal cord, as well as other types of Cancer.

15) Answer: D

Delhi-based green hydrogen and solar developer, Uneecops Technologies Ltd, has announced that it will set up the First Green Hydrogen Microgrid Project in Leh Region for one of India’s major hydro-power companies.

The company will help in the engineering, procurement, and construction (EPC) for setting up a green hydrogen-based fuel cell microgrid 25kWe for the guest house at Power Station, Alchi, Leh.

The microgrid project aims to demonstrate the viability of green hydrogen-based fuel cells as a reliable source of energy for remote and off-grid locations, making it a sustainable and cost-effective solution.

The electricity generation will be 200 units per day from the fuel cell (14 KG of hydrogen per day).

This groundbreaking initiative is a major leap forward in sustainable energy and will be developed at a very high altitude of 3200 feet, making it the world’s first project of its kind.

Uneecops Technologies will provide 3 years of Operations & Maintenance service, ensuring smooth and uninterrupted operation of the microgrid.

16) Answer: C

CoRover, a Bengaluru-based startup, has collaborated with the Life Insurance Corporation of India (LIC) to launch the conversational Artificial Intelligence (AI)-powered chatbot LIC Mitra and take the country’s largest insurance company’s digital transformation to another level.

Features of LIC Mitra :

CoRover.ai has developed LIC Mitra, which is available on LIC’s website and mobile app.

It is powered by technologies such as Artificial Intelligence (AI), Machine Learning(ML), and Natural Language Processing (NLP) to understand and respond to users’ queries in multiple languages.

The technology allows users to interact with LIC Mitra even with voice.

With LIC Mitra, users can now know about LIC products, past premiums paid, upcoming premiums, policy maturity date, and much more in addition to answers to insurance-related general queries.

17) Answer: E

Bengaluru (Karnataka)-based Log9 Materials, an advanced battery-technology and deep-technology startup, inaugurated India’s first commercial lithium-Ion (Li-ion) cell manufacturing facility on its campus in Jakkur, Bengaluru, Karnataka.

The facility will produce batteries for electric vehicles.

Key Highlights :

Log9’s commercial Li-ion cell manufacturing line has an initial capacity of 50 Megawatt hours (MWh).

Log9’s commercial Li-ion cell manufacturing line has an initial capacity of 50 MWh and the facility will cater to lithium-titanium-oxide (LTO) and lithium iron phosphate (LFP) cell manufacturing.

On the five-year cell production roadmap, Log9’s LTO TiB cells will contribute to a carbon emission reduction of 90T per vehicle with a total CO2 reduction of 147 kT every year.

The startup also launched its indigenously developed battery management system-Charvik, incorporated with state-of-the-art power control mechanisms and its academic engagement programme named Log9 Rise to support talent pool creation in battery technologies in the country.

18) Answer: B

Grandmaster Ding Liren of China is the new world champion after beating Russian grandmaster Ian Nepomniachtchi in the final rapid tiebreak game of the FIDE World Championship 2023.

Ding won the rapid chess playoff by 2.5 points to 1.5, capitalizing on Nepomniachtchi’s mistakes in time trouble in the final rapid clash, following a 7-7 tie after 14 thrilling classical games.

Now China holds both the men’s and women’s world titles as Ju Wenjun, the current women’s champion, is set to defend her title against compatriot Lei Tingjie in July.

Grandmaster Ding takes the crown from five-time world champion Magnus Carlsen who defeated Nepomniachtchi in 2021 but announced in July he would not defend the title again this year.

Carlsen had held the World Chess Championship title since 2013 and will remain the world’s top-rated player.

Ding ranks third in the FIDE rating list behind Nepomniachtchi.

19) Answer: A

Amitabh Kant, a retired member of the Indian Administrative Service (IAS), has written a new book titled “Made In India: 75 Years of Business and Enterprise” published by Rupa Publications India.

Amitabh served as the Chief Executive Officer (CEO) of the National Institution for Transforming India (NITI Aayog) from 2016 to 2022.

Amitabh Kant, our G-20 Sherpa, has had an illustrious career as an excellent civil servant, constantly arguing for positive changes, some liberal as well.

His latest book, under review, Made in India – 75 Years of Business and Enterprise, begins with an interesting narrative of how India, once a leader in the global economy, later lost this role and from a position of net exporter became a net importer.

Mr Amitabh Kant is presently G20 Sherpa of India during its Presidency year.

He was CEO, NITI Aayog (National Institution for Transforming India), the Govt of India’s premier policy Think Tank & prior to that Secretary, Department of Industrial Policy & Promotion.

20) Answer: C

Every year Coal Miners Day is celebrated on May 4.

This day is celebrated by the miners who are working in the field.

Coal Mining was begun in India in 1774.

Coal Miners became easily significant during the period of the industrial revolution between 1760 and 1840.

In that period, coal was significantly used for many purposes like heating the building.

In the 19th Century, Coal was highly used in both government and management.

The highly coal-rich producing countries are Odisha, Jharkhand, Chattisgarh, West Bengal, and some central parts of the country.

The first Coal mining began in Raniganj Coalfields which is located on the banks of the Damodar River.

Daily Current Affairs Quiz – 04th May 2023

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