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Current Affairs CSEET

1. Which company has recently partnered with the Union Ministry of Housing and Urban Affairs for the implementation of DAY-NULM scheme?

Ebay

Walmart

Flipkart

Microsoft

Correct Answer: C

Notes:

A Memorandum of Understanding (MoU) was signed between Flipkart and the Union Ministry of Housing and Urban Affairs for the implementation of Deendayal Antyodaya Yojana — National Urban Livelihoods Mission (DAY-NULM). Under the partnership, Flipkart will join hands with the state missions of DAY-NULM to implement its flagship ‘Samarth’ programme and provide market access to the local weavers, craftsmen and small businessmen.

2. What is India’s projected growth rate as per first advance estimates of gross domestic product (GDP) growth for 2019-20?

5%

5.7%

6.3%

3.5%

Correct Answer: A [ 5% ]

Notes:

In first week of January, 2020 the government has released the first advance estimates of gross domestic product (GDP) growth for 2019-20. The economy will grow at 5% this year, a massive downgrade from the 7% projected by the Economic Survey last year and much lower than the 6.8% growth in the previous year.

3. Which bank has recently announced the Residential Builder Finance with Buyer Guarantee (RBBG) scheme?

National Housing Bank

State Bank of India

HDFC Bank

Punjab National Bank

Correct Answer: B [ State Bank of India ]

Notes:

India’s country’s largest public sector bank, State Bank of India has announced a ‘residential builder finance with buyer guarantee’ (RBBG) scheme. It aims at giving a push to residential sales and improve homebuyers’ confidence. Under this scheme, SBI will issue a guarantee for completion of select residential projects to customers who have availed home loans from it. The scheme will focus on affordable housing projects priced up to 2.50 crore rupee in 10 cities initially.

5. The ‘World Employment and Social Outlook: Trends 2020’ (WESO) report was recently released by which international organisation?

United Nations

The Organisation for Economic Co-operation and Development

International Labour Organization

World Trade Organisation

Correct Answer: C

Notes:

Geneva-based International Labour Organization recently released its flagship report titled ‘World Employment and Social Outlook: Trends 2020’ (WESO).

As per the report, unemployment is estimated to increase by nearly 2.5 million in 2020. In addition to the 188 million unemployed people around the world, 165 million people don’t have enough paid work and 120 million have either given up job-search or lack access to the labour market. The report assessed that more than 470 million people are affected worldwide.

6. National Pension System (NPS) subscribers are to be allowed partial withdrawal for covering expenses for COVID-19 treatment. Which organisation manages NPS?

Insurance Regulatory and Development Authority (IRDAI)

Pension Fund Regulatory and Development Authority of India (PFRDA)

Reserve Bank of India (RBI)

Securities and Exchange Board of India (SEBI)

Correct Answer: B

Notes:

The Pension Fund Regulatory and Development Authority of India (PFRDA) recently announced that the National Pension System (NPS) subscribers will be allowed partial withdrawal for covering expenses related to COVID-19 treatment.

It also announced that COVID-19 would be declared as a critical illness which is life threatening in nature. PFRDA also announced that there is no provision for partial withdrawal for Atal Pension Yojana (APY) customers at present. Both NPS and APY are managed and run by PFRDA.

7. Ajay Tyagi is the Chairman of which regulatory body of India?

NAFED

RBI

SEBI

IRDA

Correct Answer: C

Notes:

Recently, the government has approved a six-month extension to the present Chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi.

The Chairman’s term was ending on February 29, which has now been extended to six months from the date or until further orders. Ajay Tyagi replaced the previous Chairman of the Markets Regulator- U K Sinha in 2017.

8. Which e-commerce company has partnered with Aegon Life Insurance to sell insurance solutions for customers?

Amazon

Flipkart

Snapdeal

AJIO

Correct Answer: B

Notes:

E-commerce firm Flipkart recently partnered with Aegon Life Insurance, to sell wide-ranging insurance solutions.

It aims to provide solutions for customers who are looking for instant digital policies with a sum assured of up to Rs 10 lakh. This agreement is aimed at making life insurance available to customers in a convenient and transparent manner.

9. The Cabinet Committee on Economic Affairs (CCEA) recently approved Rs 1,340-cr recapitalisation for which category of banks?

Private Banks

Public Sector Banks

Regional Rural Banks

Payment Banks

Correct Answer: C

Notes:

The Cabinet Committee on Economic Affairs (CCEA) approved a Rs 1,340-crore recapitalisation plan for the weak regional rural banks (RRBs).

This recapitalisation will help them to improve their capital to risk weighted assets ratio (CRAR) during the financial year 2020-21, as they are stipulated to maintain a minimum CRAR of 9 per cent. The Centre and the respective sponsor banks provide the funds in the ratio 50:50, as they fund Rs. 670 Cr each.

10. Japanese government funding agency JICA has signed Rs 15,295 crore loan agreements with India, for projects in which sector?

Railway Infrastructure

River Development

Water Management

Roadway Infrastructure

Correct Answer: A [ Railway Infrastructure]

Notes:

Japanese government funding agency JICA has signed Rs 15,295 crore loan agreements with India, for three mega rail infrastructure projects.

By these agreements, Rs 8,553 crore of the loan is proposed to be used for phase-1 of the Dedicated Freight Corridor, Rs 4,262 crore for Mumbai Trans Harbour Link Project (II) and Rs2,480 crore for the Mumbai Metro Line 3 Project (III).

11. TLTRO route, which was making news recently, is associated with which institution of India?

Securities and Exchange Board of India

Insurance Regulatory and Development Authority of India.

Reserve Bank of India

Airport Authority of India

Correct Answer: C

Notes:

The Reserve Bank of India has recently announced that the banks that have availed funds under the first tranche of the targeted long-term repo operations (TLTRO) route, will have to deploy the funds raised within 30 days.

If the banks fail to deploy funds within the stipulated time from the auction, they shall have to pay a penal interest of an additional 200 basis points (bps)in the policy repo rate, for the number of days these funds are not deployed.

12. The term, ‘West Texas Intermediate (WTI)’, which was recently in news, is associated with which sector?

Export Sanctions

Crude Oil Market

Business Process Outsourcing

H1B VISA

Correct Answer: B

Notes:

West Texas Intermediate (WTI), which is a particular grade of crude oil, is the underlying commodity of oil futures contract of the New York Mercantile Exchange (NYMEX).

Brent Crude, Dubai Crude and WTI Crude are the three major benchmarks in the pricing of oils in the global market. It was recently seen in news, as for the first time in history, the price of the May futures contract of WTI crude fell to a negative price of -$37.63 per barrel. This was due to the low demand of oil amid the Covid-19 crisis.

13. Which country is the largest borrower of Asian Development Bank, as of 2020?

China

India

Pakistan

Uk

Correct Answer: B

Notes:

India is the largest borrower of Asian Development Bank and the fourth largest shareholder of ADB. The institution has approved nearly $30 billion to India.

Recently, the Asian Development Bank has announced a $1.5 billion Covid-19 package for India to help funding the country’s response to tackle Covid-19. This is a part of the Covid Support program of ADB, under which the lender has provided nearly $20 bn to the Asian countries to revamp their economies.

14. Export-Import Bank of India (Exim Bank) has extended a line of credit (LOC) worth USD 215.68 million to which country?

Burundi

Malawi

Malaysia

Singapore

Correct Answer: B

Notes:

The Export-Import Bank of India (Exim Bank) has extended a line of credit (LOC) worth USD 215.68 million to the Malawi government for drinking water supply schemes and other development projects.

With this recent agreement, EXIM bank has extended five LOCs to Malawi, with the total value of LOCs being USD 395.68 million. Under this LOC, the projects covered are supply of irrigation network, cotton processing plant, green belt initiative, construction of water supply system, among others.

15. Who has been appointed as the Chairman of National Institute of Public Finance and Policy (NIPFP)?

Raghuram Rajan

Urjit Patel

U K Sinha

Anil Tyagi

Correct Answer: B

Notes:

Former Reserve Bank of India Governor Urjit Patel has been appointed as Chairman of the economic think tank, the National Institute of Public Finance and Policy (NIPFP).

Urjit Patel will be the Chairperson of NIPFP for a four-year term from June 22, 2020. He will replace Vijay Laxman Kelkar, who had been the Chairman of the think-tank since 2014. Urjit Patel served as the Deputy Governor of RBI in 2013 and Governor of RBI from 2016 to 2018.

16. As per the National Statistical Office (NSO), what is the rank of India as the world’s largest economy, in terms of purchasing power parity (PPP) for 2017?

Three

Seven

Eighteen

Six

Correct Answer: A

Notes:

The National Statistical Office (NSO) has recently announced that India has retained its position as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017.

The government quoted the World Bank data and said that India accounted for 6.7 per cent (USD 8,051 billion out of the total of USD 119,547 billion) of global GDP in terms of PPP. India is also third-largest economy in terms of its PPP-based share in global actual individual consumption and global gross capital formation.

17. Which organisation has signed a Memorandum of Understanding with Central Board of Direct Taxes (CBDT), for mutual data exchange?

Reserve Bank of India

Securities and Exchange Board of India

NITI Aayog

CBDT

Correct Answer: B

Notes:

The Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) has signed a Memorandum of Understanding (MoU), for mutual data exchange.

Both the organisations will share the required information available in their respective databases on an automatic and regular basis. Moreover, a Data Exchange Steering Group has been constituted for the initiative, that will review of data exchange status.

18. India became the second largest source of Foreign Direct Investment of which country in 2019?

United Arab Emirates

China

United Kingdom

Singapore

Correct Answer: C

Notes:

India has become the second largest source of foreign direct investment (FDI) for the United Kingdom in 2019.

As per the UK government figures recently released, India is up from its third position in 2018 and it is second only to the United States. India has invested in 120 projects and created above 5000 new jobs in the UK. India is followed by Germany, France and China.

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