Daily Current Affairs Quiz – 27th June 2020

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2020 of 27th June 2020. 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 2020 & other competitive exams can make use of these Current Affairs Quiz.

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1) World MSME Day is observed on which of the following dates?

A) June 20

B) June 25

C) June 27

D) June 15

E) June 18

2) The Tamil Nadu Chief Minister and Petroleum Minister have inaugurated a compressed biogas plant. It is a joint venture between Germany’s Oil tanking GmbH and which Indian company?

A) Essar

B) IOCL

C) HPCL

D) ONGC

E) BP

3) What is the amount which will be raised by the Uttar Pradesh government for working on the 340-km Purvanchal Expressway?

A) 1,250 crore

B) 2,000 crore

C) 850 crore

D) 1,500 crore

E) 1,000 crore

4) The government of which state has announced the Maha Parwana plan to attract fresh investments in industries?

A) Kerala

B) Haryana

C) Maharashtra

D) Uttar Pradesh

E) Madhya Pradesh

5) Which company has launched the InstaCash facility to solve the liquidity challenge for MSMEs?

A) RazorPay

B) Instamojo

C) PayTm

D) PayU

E) Cashfree

6) PhonePe has partnered with which bank on the UPI multi-bank model giving its users the option to create and use multiple UPI IDs?

A) Yes Bank

B) Bandhan Bank

C) SBI

D) HDFC

E) ICICI

7) DGFT is all set to launch a new digital platform for delivery of services like issuance of Import-Export code which is aimed to promote ease of doing business. The IEC comprises  how many digits?

A) 9

B) 8

C) 10

D) 12

E) 11

8) Which of the following poets has released an anthology “The Yogini Poems: Love and Life”?

A) Dr. Gulshan Saxena

B) Dr Ramesh Kumar

C) Dr Abha Das

D) Dr Sundar Nigam

E) Dr. Adyasha Das

9) What is India’s current rank in terms of the money parked in Swiss banks at the end of 2019?

A) 47th

B) 87th

C) 77th

D) 57th

E) 67th

10) The cricket board of which country has launched an app to track Covid-19 symptoms among its players?

A) Australia

B) Bangladesh

C) New Zealand

D) Sri Lanka

E) India

11) World Athletics has launched the ‘Road to Tokyo’ qualification tracking tool. The games will now be held in which of the following year?

A) 2025

B) 2022

C) 2024

D) 2021

E) 2023

12) Which of the following athletes is all set to receive the Arjuna award after IWF has dropped its doping charges?

A) Priya Devi

B) Kunjarani Devi

C) Sanjita Chanu

D) Mirabai Chanu

E) Poonam Yadav

13) Sqn Ldr Parvez Jamasji who passed away recently, participated in which of the following wars?

A) 1999, Indo-Pakistan War

B) 1948, Indo-Pakistan War

C) 1962, Sino-India War

D) 1965, Indo-Pakistan War

E) 1971 Indo-Pakistan War

14) Name the indigenously developed Torpedo system adding to the warfare capability of the Indian Navy. 

A) Derby

B) Varunastra

C) Mareech

D) Harpoon

E) Sagarika

15) Who among the following has launched the web portal of Garib Kalyan Rojgar Abhiyaan?

A) Narendra Modi

B) Amit Shah

C) Nirmala Sitharaman

D) Narendra Singh Tomar

E) G Kishan Reddy

16) ‘Surakshit Dada-Dadi, Nana-Nani Abhiyan’ launched to ensure the well-being of Senior Citizens amid COVID-19 pandemic has been started by which organisation in collaboration with Piramal Foundation?

A) NDC

B) ASSOCHAM

C) Niti Aayog

D) CII

E) FICCI

17) The government of which state is all set to launch the Adarsh police station scheme?

A) Haryana

B) Uttar Pradesh

C) Bihar

D) Madhya Pradesh

E) Chhattisgarh

18) The Government of which state has decided to form a dedicated force for industrial security of courts, metro and airports?

A) Bihar

B) Haryana

C) Uttar Pradesh

D) Rajasthan

E) Madhya Pradesh

19) The Petroleum Minister has inaugurated a Battery Swapping Facility along with Quick Interchange Service in which of the following cities?

A) Patna

B) Chandigarh

C) Delhi

D) Lucknow

E) Raipur

20) The Central government has decided to set up a task force for the ‘Golden Hour’ accident claims. Which of the following will be the nodal agency for coordinating payments made to the hospitals?

A) National Health mission

B) National Health authority

C) National Health Portal

D) Niti Aayog

E) National Health agency

21) Which bank has launched a full-service digital savings account to eliminate the need for a branch visit?

A) HDFC

B) ICICI

C) Yes bank

D) Axis bank

E) SBI

22) SOLV, a digital platform,has partnered with Bank to launch credit cards for MSMEs?

A) Yes Bank

B) HDFC

C) SBI

D) ICICI

E) Standard Chartered

23) The President has promulgated the Banking Regulation (Amendment) Ordinance, 2020. It has amended which section of the Banking Regulation Act, to enable the making of a scheme of reconstruction or amalgamation of a banking company?

A) Section 36

B) Section 45

C) Section 40

D) Section 35

E) Section 38

24) Which company has decided to pick up a 20 per cent stake in the Piramal pharma business for $490 million?

A) TPG Capital

B) Blackstone Group

C) Apollo Global

D) Carlyle Group

E) KKR & Co

25) According to S&P Global Ratings, India’s economy may contract by _______ per cent in FY21.

A) 2.5

B) 3

C) 5

D) 4.5

E) 3.5

Answers :

1) Answer: C

Every Year on June 27th is observed as World MSME day.

The day was established in 2017 by the United Nations to put Micro, Small and Medium Enterprises in the spotlight for their contribution to inclusive and sustainable development both locally and globally.

2) Answer: B

Chief Minister Edappadi K. Palaniswami and Union Minister for Petroleum and Natural Gas Dharmendra Pradhan inaugurated a Compressed Bio Gas Plant (CBG) at Namakkal and five CBG fuel stations in Pudhuchattiram and Rasipuram.

The CBG plant has been set up by IOT Infrastructure and Energy Services, a joint venture between Indian Oil Corporation Ltd. and Germany’s Oil tanking GmbH at a cost of Rs.25 crore.

The plant will be able to manufacture 15 tonne CBG and 20 tonne bio-manure everyday.

This was the first time that an alternative to natural gas was being sold by oil marketing companies and the number of such projects were to increase manifold in the coming years.

3) Answer: D

UP Expressway Industrial Development Authority (UPEIDA), of total loans worth Rs 1,500 crore, Rs 1,000 crore and Rs 500 crore will be sourced from Bank of India and Central Bank of India respectively.

This is to expedite the work on its flagship 340-km Purvanchal Expressway project post lockdown.

The work on the various ongoing expressway projects, including Purvanchal Expressway, Bundelkhand Expressway and Gorakhpur Link Expressway, had come to a standstill in March following the imposition of the pan-India covid-19 lockdown.

With the fresh loan tranche of Rs 1,500 crore, total loans sanctioned by the different banks for Purvanchal Expressway, which is estimated to cost Rs 23,000 crore, has touched Rs 10,500 crore.

4) Answer: C

Maharashtra, the state government announced a new plan called ‘Maha Parwana’, which will offer several incentives and offer a single-window clearance system for project execution.

The government has decided that henceforth companies investing in a project costing Rs 50 crore or more would not be burdened with getting clearances from several departments. Such companies would be given an assurance letter (Maha Parwana).

All that these companies need to do is to apply at the Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI), a single-window system, and if there is no lacunae in the application, then online permission would be given within 48 hours.

The state has assured that under the Maha Parwana system, such industries would get all the 25 odd statutory permissions and clearances from other state departments within a prescribed time (30 days). In case, these industries don’t get these clearances within the stipulated time, it would be deemed cleared automatically.

5) Answer: B

Instamojo, has launched ‘InstaCash’ to enable merchants to gain access to working capital. Merchants can avail loans for upto Rs 1 lakh, for a period of 7–14 days.

Instamojo will transfer the amount to the customer once the request has been placed.

The MSMEs have faced cash-flow and access to loans challenges owing to lack of sufficient data on credit worthiness. The coronavirus pandemic has left micro-businesses reeling  under pressure to source funds for procuring raw materials, production, pay wages etc.

Through InstaCash they aim to empower micro businesses through digitization.

Presently, Instamojo enables more than one million MSMEs to build, manage and grow their business.

6) Answer: E

Flipkart-owned PhonePe has partnered with ICICI Bank on UPI multi-bank model, giving its users the option to create and use multiple UPI IDs with ICICI and Yes Bank’s handles.

Giving its users the option to create and use multiple UPI IDs with ICICI Bank’s ‘@ibl’ handle and YES Bank’s ‘@ybl’ handle on the PhonePe app.

This addition, in partnership with ICICI Bank, enables quick and contactless payments to over 200 million registered PhonePe users.

7) Answer: C

The commerce ministry’s foreign trade arm DGFT is launching a digital platform for delivery of services like issuance of Import-Export Code (IEC), a move aimed at promoting ease of doing business for traders.

The platform will be rolled out in phases and the first phase is scheduled to go live on July 13.

In the first phase, the website will be catering to the services related to IEC issuance, modification, amendment process along with a Chatbot (a virtual assistant) catering to queries of users.

Other online modules relating to Advance Authorisation, EPCG (Export Promotion Capital Goods), and exports obligation discharge, which are part of the next phase will be rolled out subsequently after the first phase stabilises.

The IEC applications and modification process would be suspended from July 10-13 for system integration related works. A person looking to start an export import business needs IEC number. It is issued by DGFT. IEC is a 10-digit code which has lifetime validity.

8) Answer: E

Dr. Adyasha Das, well-known poet from Odisha has released her fourth book of poems, “The Yogini Poems: Love and Life”, based on the Chausathi Yoginis of Hirapur.

Her first non-fiction book on the Yoginis , “The Chausathi Yoginis of Hirapur: from Tantra to Tourism” went on to earn the tag of Amazon Bestseller and remained among the top ten for four consecutive months.

The book carries many photographs along with the poems. The book has been published by Black Eagle Books, Ohio USA, the publisher of Adyasha’s first book as well.

The Director, Satya Pattanaik timed the global release of this book on the occasion of the completion of one year of the first book.

9) Answer: C

India has moved down three places to 77th rank in terms of money parked by its citizens and enterprises with Swiss banks at the end of 2019, while the UK has retained its top position, as per the latest data from Switzerland’s central bank.

India was ranked 74th in the previous year.

Accounting for just about 0.06 per cent of the aggregate funds parked by all foreign clients of Switzerland-based banks.

Funds parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by 5.8 per cent in 2019 to 899 million Swiss francs (Rs 6,625 crore).

Among the top-ranked jurisdictions, the UK is followed by the US, West Indies, France and Hong Kong in the top five.

10) Answer: B

The Bangladesh Cricket Board (BCB) has come up with an app ‘Covid-19 well-being app’ to help its players track symptoms related to a contagious disease.

This app will help the players maintain their fitness and for the board to keep their records and track of their fitness and health status.

Former captain Mashrafe Mortaza and two other former Bangladesh cricketers, Nazmul Islam and Nafees Iqbal have so far tested positive for the dreaded coronavirus and in its bid to help the players.

This is basically to bring the players under one umbrella and the BCB has introduced it primarily for the contracted players (Men, women and Under-19 team).

11) Answer: D

World Athletics has launched ‘Road to Tokyo’, an online tool to track the qualification process for next year’s Olympic Games.

The tool will provide a real-time view of each event over the course of the Tokyo 2020 qualification period which ends on June 29, 2021.

The Games will now be held from July 23 to August 8, 2021.

However, the qualification principles remain unchanged with athletes able to qualify through entry standards and then the World Athletics World Rankings.

Athletes who have already met the entry standard since the start of the qualification period in 2019 remain qualified and will be eligible for selection by their respective member federations and national olympic committees, together with the other athletes who will qualify within the extended qualification period.

12) Answer: C

Two-time Commonwealth Games gold medal-winning weightlifter K. Sanjita Chanu, who was recently exonerated from doping charges, will get the Arjuna award for 2018.

Sanjita, who fought a long battle for over two-and-a-half years before seeing her name being cleared of doping charges by the International Weightlifting Federation (IWF).

13) Answer: E

Sqn Ldr Parvez Jamasji (retd), who was awarded the Vir Chakra for gallantry during the 1971 Indo-Pakistan war, has passed away. He was 77.

The former pilot was commissioned in 1965 and retired in 1985.

14) Answer: C

The Anti-Submarine Warfare capability of the Indian Navy received a major boost with the induction of the Advanced Torpedo Decoy System Maareech capable of being fired from all frontline warships.

Design and Development of this anti-torpedo decoy system has been undertaken indigenously by DRDO labs-(NSTL and NPOL). The Bharat Electronics Limited, a Defence PSU, would undertake the production of this decoy system.

15) Answer: D

Minister for Rural Development Narendra Singh Tomar launched the web portal of the Garib Kalyan Rojgar Abhiyaan through video conferencing from New Delhi. The Garib Kalyan Rojgar Abhiyaan is the massive employment generation-cum-rural infrastructure creation programme of the Government of India which was inaugurated by Prime Minister Narendra Modi . Its objective is to provide employment to returnee migrant workers at their native places for next four months, because of the situation arising out of the Covid-19 pandemic.

Mr Tomar expressed happiness at the launch of the portal which will provide information to the public about the various district-wise and scheme-wise components of the Abhiyaan.

It will also help to monitor the progress of completion of the works being undertaken with a fund outlay of 50 thousand crore rupees in 116 districts of 6 states, where there are more than 25000 returnee migrant workers per district.

He stated, Ministry of Rural Development is the nodal Ministry for Garib Kalyan Rojgar Abhiyaan and it is working in close coordination with 12 other Ministries for the 25 categories of works which are to be completed in the identified districts in 125 days. Mr Tomar stated that these ongoing works which were progressing at a normal pace as per schedule, have now been fast-tracked to transform the challenge presented by the pandemic into an opportunity to create infrastructure in rural areas in a short duration.

The launch of the web portal was followed by a workshop for the Central Nodal Officers of the 116 identified districts.

16) Answer: C

Surakshit Dada-Dadi, Nana-Nani Abhiyan is a collaborative effort between NITI Aayog, Piramal Foundation, and 25 Aspirational Districts to ensure the well-being of 2.9 million Senior Citizens during the COVID-19 pandemic. NITI Aayog has launched this campaign following the appeal by Prime Minister Narendra Modi to take care of senior citizens.

Piramal foundation with the help of social welfare department and district administration is implementing this campaign in Surendranagar district. More than 150 volunteers are engaged in this campaign. They are contacting about 25000 senior citizens of the district through phone calls by taking the contact details from the district administration.

They inquired about the health of old persons and gave them information on Coronavirus. They also helped them to fulfill their essential requirements like medicines, ration or work related to ration cards.

17) Answer: E

In Chhattisgarh, efforts will be made to develop all police stations in the state as Ideal police stations. The  Chhattisgarh government will launch Adarsh police station scheme from July 1. Certain parameters have been fixed and those police stations meet the set criteria will be rewarded.

These parameters include the conduct of the police station in-charge and other staff with the general public, the environment of the police station should be such that victims, women and children can speak out their problems at police stations without fear as well as maintenance of records in the police station should be up to the mark.

Moreover, the state government has also decided to review and withdraw petty cases registered against tribal people in Bastar region of the state.

The Director General of Police has instructed officials that those tribal persons who do not have serious cases registered against them, should immediately be released.

18) Answer: C

Uttar Pradesh government has decided to form a dedicated force for security of courts, metro rail, airports, industrial establishments, banks and other organizations in the state. Chief Minister Yogi Adityanath has directed officials to constitute the Uttar Pradesh Special Security Force (UPSSF) for this purpose.

Highlighting  the need of the dedicated force Chief Minister Yogi Adityanath stated that there is demand for a special security force for district courts, metro rail, airports, industrial institutions, banks and other financial institutions, and for this the UPSSF should be constituted which can work professionally and ensure security.

The force will be given special training and will be provided with security equipment. It can be placed at important establishments including religious places.

In the first phase, five battalions of such force will be constituted and the chief minister has directed the officials to present a detailed plan in this regard. Earlier Allahabad high court had also directed the state government to form an exclusive Force for security on court premises in December last year.

19) Answer: B

Punjab Governor and Administrator of Chandigarh V P Singh Badnore along with Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan inaugurated Battery Swapping Facility, Quick Interchange Service (QIS) at Chandigarh in a function organised online.

Battery swapping technology offers the best alternative to slow charging and helps the drivers to make optimum use of the operational hours. The battery swapping model is initially targeted at the commercial segment-electric autos, rickshaws and the electric vehicle which is either factory fitted or retrofitted.

Indian Oil has signed a non- binding Strategic cooperation document with M/s Sun Mobility to explore setting up of Energy infrastructure for Electric vehicles through Battery Swapping model across Indian Oil Retail outlets in select cities covering New Delhi, Gurugram, Bengaluru, Chandigarh, Amritsar and others.

20) Answer: B

The Ministry of Road Transport and Highways (MoRTH) will set up a ten-member task force to work out the modalities of funding motor accident victims’ treatment during the crucial ‘Golden Hour’.

The decision was taken at a meeting chaired by officials from MoRTH, with officials from the National Health Authority (NHA) and general insurance companies in attendance.

The NHA will be the nodal agency for co-ordinating payments made to the hospitals that treat such patients.

Sources stated that the immediate response mechanism for road accidents on national highways (which accounts for the maximum number of deaths every year) will be decided by the task force. Nodal officers for dealing with such incidents could also be appointed.

For insured vehicles, a committee that will be in charge of collecting funds will be set up. The funds would be handed over the NHA for disbursement,” stated a top insurance official with direct knowledge of the meeting.

The proposed task force will be assigned the responsibility of working out the modalities of claim settlement in such cases. Members of the insurance regulatory body, road ministry, insurance companies as well as NHA will be part of the task force.

21) Answer: C

Private sector lender Yes Bank has launched a full service digital savings account which would ensure physical distancing and eliminate the need for a branch visit, physical documentation or any in-person interaction in times of the current pandemic.

It will also help the lender to cater to a diverse customer base, especially in tier 1 and tier 2 cities, in line with its strategy of building a transformed ‘Digital Bank’.

Yes Bank’s digital savings account comes with a virtual debit card, unlocking over 100 features on mobile through YES Mobile and web including transactions, fund transfers and online shopping using the virtual debit card, it stated in a release, adding that the account will offer six per cent interest.

22) Answer: E

SOLV, a B2B digital platform for Micro, Small and Medium Enterprises (MSMEs), has launched a credit card tailor-made for the MSME segment, in partnership with Standard Chartered Bank, India.

SOLV, registered as Standard Chartered Research & Technology India Pvt. Ltd., is a fully-owned entity of the London-headquartered Standard Chartered Group.

The digital platform, stated the SOLV MSME Credit Card provides business owners with a ready means to meet ongoing business expenses including supplier payments, fuel, logistics, purchase of raw material, utility payments and working capital outlays.

The  SOLV platform will help small businesses trade goods with each other and expand their customer base across India.

The platform stated MSMEs are not charged any credit card joining fee, and the card comes with cashback, including 5 per cent cashback on fuel transactions, and reward features.

Nitin Mittal, CEO, SOLV, stated, This credit card will help small business owners’ tide over immediate crises such as paying for daily expenses and logistics costs with ready access to funds from a reputed, reliable partner at an affordable rate.

23) Answer: B

President Ram Nath Kovind has promulgated the Banking Regulation (Amendment) Ordinance, 2020.

The  Finance Ministry stated that, The Ordinance amends the Banking Regulation Act, 1949 as applicable to Cooperative Banks. The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital.

It further added: The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws. The amendments do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the word “bank” or “banker” or “banking” and do not act as drawees of cheques.

The Ordinance also amends Section 45 of the Banking Regulation Act, to enable making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system.

24) Answer: D

The Carlyle Group has agreed to pick up 20 per cent stake in Ajay Piramal’s pharma business for 490 million dollars (about Rs 3,698 crore), making it one of the largest private equity deals in the Indian pharmaceutical sector.

The deal is expected to close this year, subject to customary closing conditions and regulatory approvals, Piramal Enterprises stated in a statement.

The transaction values Piramal Pharma at an enterprise value of 2.7 billion dollars with an upside component of up to 360 million dollars depending on the company’s FY21 performance. Carlyle will make the investment through CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd.

Piramal Pharma will include Piramal Pharma Solutions — an end-to-end contract development and manufacturing business, Piramal Critical Care — a complex hospital generics business selling specialised products across over 100 countries, Consumer Products Division — a consumer healthcare business selling over-the-counter products in India, Piramal Enterprises’ investment in the joint venture with Allergan India — a leader in ophthalmology in the domestic market — and Convergence Chemicals Pvt Ltd.

Piramal Enterprises stated it has demonstrated a three-decade track record of growth and re-invention in pharma. Following the sale of its domestic pharma business to Abbott in 2010 for 3.8 billion dollars, the company has demonstrated its ability to build a solid and resilient pharma business over the last 10 years.

Carlyle has invested more than 2.5 billion dollars in India as of March 31, 2020. Notable investments in India include SBI Life, SBI Card, HDFC, India Infoline, Delhivery and PNB Housing Finance.

25) Answer: C

S&P Global Ratings stated that Indian economy is in deep trouble with growth expected to contract by 5 per cent in the current financial year 2020-21.

India’s economy is in deep trouble. Difficulties in containing the virus, an anemic policy response and underlying vulnerabilities — especially across the financial sector — are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021, it stated.

The pandemic remains the key driver of the country’s prospects. “Even though lockdowns have eased in less populated areas, urban growth engines are still held back by rising infections, severe mitigation policies and consumer risk aversion.”

S&P projected that Asia Pacific’s economy will contract by 1.3 per cent in 2020 but show 6.9 per cent growth in 2021, implying 2.7 trillion dollars of lost output over these two years, even assuming broad containment of the coronavirus.

It saw China’s economy expanding by 1.2 per cent in 2020 before growth surpasses 7 per cent next year. The largest downward revision of our growth estimates is for Japan where we now expect a 5 per cent contraction in 2020 as consumers save more.

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