Daily GK and Current Affairs Quiz – 10th & 11th January 2021

Correct Answer: B. Rs 50 crore

Explanation: The Reserve Bank of India has introduced Legal Entity Identifier (LEI) for all payment transactions of value Rs 50 crore and above undertaken by entities (non-individuals) via Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) are the Centralised Payment Systems operated by RBI. This instruction shall come into effect from April 01, 2021.

• The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide.
• Reserve Bank has introduced LEI in a phased manner for participants in the over the counter (OTC) derivative and non-derivative markets as also for large corporate borrowers.
• LEI can be obtained from Legal Entity Identifier India Ltd. (LEIL) which is wholly owned subsidiary of Clearing Corporation of India Ltd (CCIL).

Correct Answer – D. Arup Kumar Goswami

Explanation: Justice Jitendra Kumar Maheshwari was sworn in as the new Chief Justice of Sikkim High Court. Governor Ganga Prasad administered the oath of office to Justice Maheshwari during a function held in Raj Bhavan. Chief Justice Arup Kumar Goswami of the Sikkim High Court has now been transferred for appointment as the Andhra Pradesh High Court’s Chief Justice.

Correct Answer – B. Merrick Garland

Explanation: President-elect Joe Biden will nominate federal appeals judge Merrick Garland to be the next U.S. attorney general. He serves as a judge on the U.S. Court of Appeals for the District of Columbia Circuit, one of 13 federal appeals courts. Vanita Gupta, the head of the Leadership Conference on Civil and Human Rights, will be nominated by Biden as the Associate Attorney General, the No. 3 people in the department.

Correct Answer – D. New Development Bank

Explanation:  The New Development Bank (NDB) has signed loan agreements worth USD 646 million with the Government of India for two road projects in Andhra Pradesh. Each project costs USD 323 million. These projects will improve mobility and connectivity to the socioeconomic centres, enhance transport efficiency, improve road safety and riding quality, and provide all-weather accessibility for the State’s road users.

• The first project is the Andhra Pradesh Roads and Bridges Reconstruction Project. It comprises widening 1,600 km of State Highways to double lane and reconstructing dilapidated bridges on the State Highway network.
• The second project is Andhra Pradesh Mandal Connectivity and Rural Connectivity Improvement Project. It comprises widening 1,400 km of district roads to double lane and reconstructing dilapidated bridges on the district road network.

Correct Answer – C. 500 crores

Explanation: German technology firm SAP SE would invest ₹500 crores in India to localize and offer customers the flexibility of a multi-cloud environment. SAP will make available its multiple cloud solutions in India’s data centres. In May 2020, SAP had launched its Commerce Cloud and S/4 HANA Cloud on its India data centre to help domestic enterprises meet end-to-end customer demands.

Correct Answer – B. Justice Hima Kohli

Explanation: Justice Hima Kohli was sworn in as the Chief Justice (CJ) of Telangana High Court on 7 January 2021. Governor Dr Tamilesai Sounderarajan administered the oath of office. Justice Hima Kohli has served as a judge of Delhi High Court and has become the first woman CJ of Telangana High Court. The present CJ of Telangana High Court RS Chauhan has been appointed as CJ of Jharkhand High Court.

Correct Answer – C. K S Vijayanath

Explanation: Arif Mohammed Khan, Governor of Kerala released the book titled “Sabarimala Vijnaanakosham” authored by K S Vijayanath at Raj Bhavan, Thiruvananthapuram, Kerala. He presented the first copy of “Sabarimala Vijnaanakosham” to S Sreejith, Inspector General of Police (Crime Branch) Kerala. He also presented the Limca Book of World Records certificate to Swami Maheswarananda who erected a 111 feet Shiv Linga Sthoopa at Maheswaram Sri Siva parvathi Temple in Chenkal, Thiruvananthapuram, Kerala.

Correct Answer – A. Raj Iyer

Explanation: Indian-American Dr Raj Iyer has taken over as the first Chief Information Officer of the US Army, after the Pentagon created the position in July 2020. One of the highest-ranking Indian-American civilians in the US Department of Defense, Raj Iyer, who holds a Ph.D. in Electrical Engineering, serves as the principal advisor to the Secretary of the Army and directs representation of the secretary in matters relating to information management/information technology (IT). Equivalent in rank to a three-star General, Raj Iyer will supervise an annual budget of USD 16 billion for the US Army’s IT operations. Over 15,000 civilians and military personnel posted across 100 countries work under him.

Correct Answer – B. -7.7%

Explanation:  The GDP of India is expected to contract by 7.7 percent in the current fiscal year 2020-21, as per the first advanced estimates released by the National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MOSPI) on January 07, 2021. The first advance estimates of GDP of a financial year are released before the Union Budget. This data helps in the budget-making process.

Correct Answer – C. N S Viswanathan

Explanation: The Reserve Bank of India (RBI) has set up an academic advisory council called ‘College of Supervisors (CoS)’ to further strengthen supervision over regulated entities. The Cos will be headed by former deputy governor N S Viswanathan and will have five other members. The objective of the council will be to identify areas where skill building/up-skilling are requir­ed, plan and develop curricula of all programmes, benchmark the programmes with international standards/­best practices, and develop appropriate teaching methods, etc.

Correct Answer – C. 10th January

Explanation: The World Hindi Day is celebrated annually on January 10 since 2006 to promote the language at the global stage. The day marks the anniversary of first World Hindi Conference which was inaugurated on January 10, 1975, by the then prime minister Indira Gandhi. However, the celebration of first World Hindi Day was commenced on 10 January 2006 by former Prime Minister Dr Manmohan Singh. It must be noted that the National Hindi Day is celebrated in India on September 14 every year. On that day in 1949, the constituent assembly adopted Hindi, written in Devanagari script, as the official language of the Union.

Correct Answer – C. IDFC Mutual Funds

Explanation: IDFC Mutual Funds has launched its latest pan-India investor awareness campaign titled #PaisonKoRokoMat. With this new campaign, IDFC Mutual Fund aims to shift the conversation regarding wealth creation from the traditional to the contemporary.

• This new campaign of IDFC Mutual Fund urges savers to become investors and explore the smart and modern mutual fund vehicle for their investments.
• The 360-degree campaign focuses on looking beyond the traditional ways of growing your money and using your goals to allocate your money across asset classes and investment solutions.
• The campaign has been conceptualised and created by TBWAIndia.

Correct Answer – C. Pakistan

Explanation:  Pakistan successfully test-launched Fatah-1, the indigenously developed guided multi-launch rocket system. The rocket system is capable of delivering a conventional warhead up to a range of 140 kilometers. The weapon system will give Pakistan Army the capability of precision target engagement deep in enemy territory.

Correct Answer: B. Fashion Designer

Explanation: Ace fashion designer Satya Paul, known for giving the Indian saree a contemporary touch, has passed away at the age of 79. Paul started his journey in the field of retail in the late 60’s and expanded to exports of Indian handloom products to high-end retail stores in Europe and America. In 1980, he launched the first ‘saree boutique’ in India, L’Affaire, and founded the eponymous fashion clothing brand with his son in 1986. The brand soon became synonymous for its sleek sarees.