Home » Daily Current Affairs Quiz – 25th May 2023

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 25th 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) Which finance company has started a one-stop business platform ‘Udyog Plus’ designed for Indian micro, small and medium enterprises (MSME) customers?

(a) ICICI Home Finance

(b) L&T Finance

(d) Aditya Birla Finance

(e) Tata Capital Financial Services

2) The IRDAI has proposed to tighten norms for insurance advertisement. The draft asks insurers to set up proper robust systems to upload advertisements on their website within ____ days of release.

(a) 3

(b) 5

(d) 7

(e) 15

3) The International Financial Services Centre Authority (IFSCA) is considering permitting UDRs for Indian shares. What is the full form of UDR?

(a) Unsponsored Deposit Receipt

(b) Unsponsored Depositary Return

(d) Unsponsored Deficit Receipt

(e) Unsponsored Depositary Receipt

4) The IRDAI has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar number. IRDAI has constituted a 12-member task force headed by __________.

(a) T S Tirumurti

(b) Ayush Banerjee

(d) Debashish Panda

(e) Ashwini Bhatia

5) Which of the following will be organizing the upcoming edition of ‘Wings India 2024’?

(a) Ministry of Civil Aviation(MoCA)

(b) Airport Authority of India(AAI)

(d) All of the above

(e) Only A and B

6) As per the recent(May 2023) report by the Ministry of Statistics and programme implementation (MoSPI), which state has reported the highest output in fruits and vegetables in all these years (2011-12 to 2020-21)?

(a) Karnataka

(b) West Bengal

(d) Uttar Pradesh

(e) Madhya Pradesh

7) Which organisation and Ministry of Education have organised a one of its kind workshops on School-to-Work Transition under the STARS Program in Mumbai, Maharashtra?

(a) ADB

(b) UNESCO

(d) UNICEF

(e) World Bank

8) As per the recent report by the Union Ministry of coal, India’s coal production has achieved ____ growth in the last nine years.

(a) 35%

(b) 52%

(d) 24%

(e) 32%

9) The 2080s of the Bikram Samvat will be marked as ‘ the Visit Nepal Decade’ and the year ________ as the special year for tourism.

(a) 2041

(b) 2030

(d) 2027

(e) 2025

10) Which district in Andhra Pradesh has launched the state’s health insurance scheme “Niramaya Health Insurance Scheme” for Special Children?

(a) Nellore

(b) Guntur

(d) Visakhapatnam

(e) Tirupati

11) Which of the following became India’s first state to provide free air travel to pilgrims?

(a) Madhya Pradesh

(b) Uttar Pradesh

(d) Haryana

(e) Gujarat

12) Which state has inaugurated the Machilipatnam Port works to emphasis its potential for accelerated development and job creation in the state?

(a) Karnataka

(b) Telangana

(d) Maharashtra

(e) Andhra Pradesh

13) Which of the following company has recently announced that it will delist its global depository receipts (GDRs) from the London Stock Exchange and Luxembourg Stock Exchange?

(a) Hindustan Unilever

(b) Tetley

(d) Britannia Industries

(e) ITC Limited

14) According to the United Nations Environment Programme (UNEP) report,by when can be Global plastic pollution reduced by 80 per cent?

(a) 2040

(b) 2030

(d) 2027

(e) 2051

15) Which of the following organisation has released the report titled ‘Born too Soon: Decade of Action on Pre-term Birth’?

(a) World Health Organization (WHO)

(b) United Nations International Children’s Emergency Fund (UNICEF)

(d) All of the above

(e) Only A and C

16) India’s defence production rose more than ______ in FY 2022-2023 and crossed the 1 trillion-rupee ($12 billion) threshold for the first time.

(a) 10%

(b) 7%

(d) 8%

(e) 15%

17) Which country’s Navy and the Royal Saudi Naval Force have collaborated for the first-ever Maiden Afloat Training of Saudi Cadets?

(a) Singapore

(b) India

(d) Malaysia

(e) UAE

18) Which of the following sport has been included in the 37th National Games2023 by the Indian Olympic Association (IOA)?

(a) Aikido

(b) Silambam

(d) Gatka

(e) Kalaripayattu

19) Recently, Martin Amis passed away at the age of 73. Which country does he hail from?

(a) Australia

(b) South Africa

(d) United Kingdom

(e) France

20) Where is the headquarters of the International Financial Services Centre Authority (IFSCA) located?

(a) Gujarat

(b) Haryana

(d) Karnataka

(e) Maharashtra

Answers :

1) Answer: D

Aditya Birla Capital through its lending arm, Aditya Birla Finance has started Udyog Plus, an one-stop business platform designed for Indian micro, small and medium enterprises (MSME) customers.

Udyog Plus”, is a dedicated offering for small businesses, under which it will be providing finance and an array of other services to MSMEs.

This new Business to Business (B2B) digital platform offers solutions for MSMEs, including financing, protection, investments, advisory and value-added services for managing and growing their businesses.

The platform is an open marketplace that can be accessed through the financing section of the Aditya Birla Capital website by both existing as well as new customers of Aditya Birla Finance.

Under the initiative, the company will be giving unsecured loans of up to Rs 10 lakh using digital technology for quicker turnarounds.

2) Answer: A

The Regulator Insurance Regulatory and Development Authority of India (IRDAI) proposed to tighten norms for insurance advertisements by assigning higher responsibility on senior management of insurers in designing and approving media campaigns for product promotion.

In this context, the IRDAI has proposed an amendment in the 2021 regulations on insurance advertisements and disclosure.

Key Highlights :

Under the proposed amendment, each insurer will be required to constitute an advertisement committee comprising at least three members mandatorily from marketing, actuarial and compliance functions of the insurer.

Objective of the amendment :

To assign higher responsibility on the senior management while designing and approving the advertisements for the consumption of the customers.

Product management committee and advertisement committee shall be accountable and fully responsible for releasing the approved advertisements.

The draft also asks insurers to set up proper robust systems to upload advertisements on their website within three days of release.

3) Answer: E

The International Financial Services Centre Authority (IFSCA), the regulatory body overseeing GIFT City’s international financial services centre, is considering permitting unsponsored depositary receipts (UDRs) for Indian shares.

Key Highlights :

This move would offer investors the opportunity to invest in Indian stocks and avail of tax benefits.

By introducing Indian UDRs, the International Financial Services Centre (IFSC) in Gift City aims to boost liquidity, attracting foreign funds seeking offshore alternatives to the Mumbai stock markets

Currently, Gift City offers derivatives, debt products, and UDRs of foreign companies such as Apple and Google.

Depository receipts allow investors exposure to equities of foreign companies, with custodian banks facilitating the transactions by purchasing shares and issuing receipts.

In the past, Indian companies such as Infosys, Wipro and HDFC Bank sold American Depository Receipts (ADRs), which are traded on the New York Stock Exchange.

Currently, investors through IFSC, Gift City, can avail of a number of tax benefits, including exemption from securities transaction tax and stamp duty.

4) Answer: D

The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number.

Among other things, the task force will suggest measures to allow agents and other intermediaries to facilitate both eKYC and physical KYC to onboard new clients.

Presently, the Unique Identification Authority of India (UIDAI) framework allows insurance companies to identify the customer by using his/her Aadhaar with consent management.

In the absence of Unique Customer Identification in the insurance sector, insurance companies are facing various issues while providing the services and claims apart from ease of onboarding the customers, circumventing possible frauds etc.

The insurance regulator has constituted a 12-member task force headed by IRDAI Chairperson Debashish Panda.

5) Answer: D

Ministry of Civil Aviation (MoCA), Airport Authority of India (AAI) and Federation of Indian Chambers of Commerce and Industry (FICCI) are organizing the upcoming edition of ‘Wings India 2024’.

Asia’s largest commercial, general, and business aviation event to be held in January 2024 at Begumpet Airport, Hyderabad, India.

6) Answer: B

A recent report by the Ministry of Statistics and programme implementation (MoSPI) reiterates the growing importance of the livestock and fishing sector in India’s agriculture mix.

Livestock, fishing and aquaculture saw the highest increase in gross value of output (GVO) between 2011-12 to 2020-21.

Livestock and fishing sector is dominated by private players and has little or no government intervention.

Share of GVA of agriculture and allied activities (FY2021): it was 20.3 percent, and it was the highest in a decade in the country’s total GVA.

It can be because of Covid when other sectors fared poorly.

The share of the crop sector dropped from 62.4 per cent to 54.9 per cent in the total GVO between 2011-12 to 2020-21.

Within the crop sector, fruits and vegetables account for the highest share of GVO, followed by cereals.

Among the fruits, output was the highest for mangoes, followed by bananas.

Among the vegetables, potato and tomato together saw the highest production, accounting for about 14 per cent of the group.

West Bengal reported the highest output in fruits and vegetables in all these years (2011-12 to 2020-21).

The GVO of cereals, at 3.36 trillion, was the highest among all crop groups in 2011-12.

Uttar Pradesh (UP) recorded the highest output of cereals in all the years (2011-12 to 2020-21).

7) Answer: E

Ministry of Education and World Bank organised a one of its kind workshop on School-to-Work Transition under the STARS Program in Mumbai.

School-to-Work Transition workshop under the STARS Program was co-chaired by Secretaries of School Education and Skill Development and Entrepreneurship.

Strengthening Teaching-Learning and Results for States (STARS) Project was approved by the Cabinet in October 2020 and to be implemented as a centrally sponsored scheme.

It became effective in 2021 for a period of five years i.e. up to FY: 2024-25.

STARS project would be implemented under the Department of School Education and Literacy, Ministry of Education with the financial support of the World Bank.

It is being implemented in six identified states viz. Himachal Pradesh, Maharashtra, Odisha, Rajasthan, Madhya Pradesh and Kerala.

8) Answer: C

India’s coal supply has reached 877.74 Million tonnes in the last nine years.

It has recorded 45.37% growth in the last nine years.

India’s coal production has achieved 47% growth in the last nine years.

Overall coal production has increased up to 893.08 Million tonnes in Financial Year 2023.

This is the highest in the history of the country.

The Coal Ministry said that according to the Action Plan for 2023-24, the coal production target for the financial year 2023-24 is 1,012 Million tonnes.

The coal Ministry has signed agreements for 23 coal mines having a cumulative peak-rated capacity of 33.224 MT per annum during the Financial Year 2022-23.

The Ministry said it is expected that 25 coal mines will be allocated during Financial Year 2023-24 for commercial mining.

The Ministry focuses on enhancing coking coal production from 52 Million tonnes (MT) in Financial Year 2022 to 140 MT in Financial Year 2030.

The government launched Mission Coking Coal in August 2021.

It was launched with a roadmap suggesting ways to augment the production and utilization of domestic coking coal in India by 2030.

9) Answer: E

The 2080s of the Bikram Samvat will be marked as ‘ the Visit Nepal Decade’ and the year 2025 as the special year for tourism.

Nepal’s President Ram Chandra Poudel announced this while presenting the policies and programs for the fiscal year 2080/81 at a joint sitting of the Federal Parliament.

Previously, the government had announced to observe 2020 as a ‘visit Nepal year’ which was later cancelled in the wake of the COVID crisis.

Key Highlights :

The tourism sector, which has seen huge losses from the COVID crisis, is slowly recovering.

From the beginning of 2023, about one lakh tourists are visiting Nepal every month.

In addition, the President announced that timely amendments would be made in tourism related laws.

10) Answer: D

In a first-of-its-kind initiative in Andhra Pradesh (AP), Visakhapatnam district launched the Niramaya Health Insurance scheme.

Objective :

To provide affordable health insurance for children suffering from autism, cerebral palsy, mental retardation, multiple disabilities, and others .

District collector Dr A Mallikharjuna launched the free health insurance scheme.

Key Highlights :

The beneficiaries can claim up to Rs 1 lakh per year towards medical reimbursement as a part of the scheme initiated by the Central government with the support of the National Trust under the Ministry of Social Justice and Empowerment.

The premium required for the health insurance to the tune of Rs 1.34 lakh in 4 different categories was supported through Sanjeevani Nidhi District Relief Fund

11) Answer: A

Madhya Pradesh (MP) Chief Minister (CM) Shri Shivraj Singh Chouhan flagged off a batch of 32 senior citizens comprising 24 men and 8 women on pilgrimage to Uttar Pradesh’s (UP) Prayagraj from Bhopal, MP via flight under the scheme of ‘Mukhya Mantri Tirath Yatra Yojana’

MP has become the 1st state in India to organise government-funded air travel for pilgrimage purposes.

So far, 7, 82,000 elderly people have undertaken pilgrimage in 782 special trains under the scheme.

Eligibility Criteria for Mukhyamantri Tirth Darshan Yojna:

Applicant must be resident of Madhya Pradesh state

Applicant should be completed 60 years of age

Applicant should not be taxpayer

12) Answer: E

Andhra Pradesh (AP) Chief Minister (CM) Shri YS Jagan Mohan Reddy inaugurated the Machilipatnam Port works, at Manginapudi in Krishna district, AP emphasising its potential for accelerated development and job creation.

With an estimated cost of ₹5,156 crore, this project aims to transform Machilipatnam into a thriving port city, fostering economic growth and connectivity.

Key Highlights :

It is one of the three non-major ports (Ramayapatnam in Nellore and Moolapeta in Srikakulam district are the other two), being developed by the AP Maritime Board (APMB) at an estimated cost of ₹11,465 crore (₹5,253 crore and ₹6,212 crore in the first and second phases respectively), on a total extent of 3,700 acres.

13) Answer: C

Tata Consumer Products recently said that it will delist its global depository receipts (GDRs) from the London Stock Exchange and Luxembourg Stock Exchange.

It is a foreign currency-denominated negotiable financial instrument issued by a depositary bank.

GDRs are certificates issued by a depository bank, which purchases foreign company shares and deposits them in the account.

GDRs are commonly used to raise capital from international investors through public stock offerings or private placement.

Indian companies can only get their shares listed on foreign exchanges through Global Depository Receipts (GDR).

GDRs help Indian companies get foreign funds and gain access to international capital.

Only companies with a three-year sound financial record can get access to GDRs.

14) Answer: A

Global plastic pollution can reduce by 80 per cent by 2040 if countries and companies make deep policy and market shifts using existing technologies and shift to a circular economy, according to a new report launched by United Nations Environment Programme (UNEP).

The report “Turning Off The Tap” was released ahead of the negotiations resuming in Paris seeking a global agreement to beat plastic pollution.

The report highlights the magnitude and nature of changesrequired to end plastic pollution and to create a circular economy to replace the widespread use of single-use plastics and their inappropriate disposal.

According to the report, one million plastic bottles are purchased every minute while up to five trillion plastic bags are used worldwide every year.

In total, half of all plastic produced is designed for single-use purposes, the UNEP confirms.

About 400 million tonnes of plastic waste are generated every year.

15) Answer: D

The report ‘Born too Soon: Decade of Action on Pre-term Birth” was recently released by World Health Organization (WHO), United Nations International Children’s Emergency Fund (UNICEF)and Partnership for Maternal, Newborn and Child Health (PMNCH).

As many as 152 million babies were born too soon in the world over the last decade.

In the pandemic year of 2020, that number was 13.4 million.

That year, India was among the top five countries where babies were born too soon, or preterm – babies born alive before 37 weeks of pregnancy (as opposed to full-term pregnancy that runs to at least 39 weeks) – as per a United Nations-backed report published May 10.

India was at the fourth position in terms of preterm birth rates in 2020.

Almost half (45%) of all preterm babies in that year were born in just five countries: India, Pakistan, Nigeria, China and Ethiopia.

The birth rate of preterm babies in India is 13.

Bangladesh, however, leads this list, with a birth rate of 16.2, followed by Malawi (14.5) and Pakistan (14.4).

The “four Cs” are further adding to the issue of preterm births, the report noted. Conflict, climate change, COVID-19 and the cost-of-living crisis “heighten threats for the most vulnerable women and babies in all countries”.

16) Answer: C

India’s defence production rose more than 12% in FY 2022-2023 and crossed the 1 trillion rupee ($12 billion) threshold for the first time.

Objective :

To promote domestic defence manufacturing and has set a target of achieving a turnover of USD 25 billion (Rs 1.75 lakh crore) in defence manufacturing by 2024-25, including an export target of USD 5 billion (Rs 35,000 crore) worth of military hardware.

The current value stands at Rs 1,06,800 crore and is expected to rise further as data is received from additional private defence industries.

This marks a growth of over 12% compared to the previous year when the value of defence production was Rs 95,000 crore.

Key Highlights :

The government has been working in close collaboration with defence industries and their associations to address challenges and promote defence production in India.

Policy reforms, including the integration of Micro, Small, and Medium Enterprises (MSMEs) and start-ups into the supply chain, have been implemented to enhance the ease of doing business.

17) Answer: B

In a major move aimed at enhancing cooperation between the Indian Navy and the Royal Saudi Naval Force, the Saudi Arabian Armed forces collaborated for the first-ever Maiden Afloat Training of Saudi Cadets.

55 cadets from the King Fahd Naval Academy, Saudi Arabia arrived in Kochi,Kerala, the headquarters of India’s Southern Naval Command, as part of their first-ever training with the Indian Navy.

Along with this 5 Directing Staff from King Fahd Naval Academy, Saudi Arabia arrived onboard First Training Squadron (1TS) ships, Indian Naval Ship (INS) Tir and INS Sujata at Kochi as part of afloat training with the Indian Navy.

The cadets would be undergoing 24 days of afloat training on various aspects of seamanship, navigation, fire fighting and emergency drills onboard.

To provide first-hand experience of life onboard a sailing ship, the cadets would also be attached onboard Sail Training Ship, INS Sudarshini during this period.

The maiden afloat training of cadets from the Royal Saudi Naval Force onboard the Indian Navy’s Training Squadron is a major stride towards mutual cooperation between the two Navies.

18) Answer: D

Indian Olympic Association (IOA) approved the inclusion of Gatka in the 37th National Games-2023.

The traditional game Gatka and Lagori have been included as demonstration sports.

The 37th national game is scheduled to be held in Goa in October 2023.

A total of 43 games will be organized at the national game in collaboration with the Government of Goa.

For the first time, beach football, roll ball, golf, sepaktakraw, sqay martial arts, kalliyarapattu and pencak silat will be medal sports at the 37th National Games.

19) Answer: D

Renowned British novelist Martin Amis has passed away at the age of 73.

About Martin Amis :

Amis was born on 25 August 1949 in Oxford, England, United Kingdom (UK).

He was the son of the well-known novelist Kingsley Amis, who came to fame with his book Lucky Jim.

He was an English novelist, essayist, memoirist, and screenwriter.

He is best known for his novels Money (1984) and London Fields (1989).

Awards & Honors :

He received the James Tait Black Memorial Prize for his memoir Experience and was twice listed for the Booker Prize (shortlisted in 1991 for Time’s Arrow and longlisted in 2003 for Yellow Dog).

20) Answer: A

International Financial Services Centre Authority (IFSCA):

Founded : April 27, 2020

Headquarters : GIFT City, Gujarat

Chairman : Injeti Srinivas (1st Chairman Of IFSCA)

IFSCA is the regulatory body for the Indian special economic zones such as the GIFT International Financial Services Centre for International Financial Services and commodity markets under the ownership of the Government of India (GoI).

Daily Current Affairs Quiz – 25th May 2023

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