Daily GK and Current Affairs Quiz - 10th May 2023
Daily GK and Current Affairs Quiz - 10th May 2023

Daily GK and Current Affairs Quiz – 10th May 2023

Today’s Current Affairs Quiz. Important Current Affairs Questions – May 2023. Monthly Current Affairs PDF. Latest Current Affairs Questions for Banking and Insurance Exams 2023. Welcome to the Let’s Study Together (LST) online Current Affairs section. If you are preparing for Banking & Insurance, SSC, Railways, and other competitive exams, you will come across a section on Current Affairs. Here we are providing you with the “Current Affairs Quiz – 10th May 2023″ in PDF format based on the current events for your daily practice.

This “Current Affairs Quiz –10th May 2023″ is also important for other banking exams such as LIC AAO, IBPS PO, IBPS Clerk, SBI PO/Clerk, IBPS RRB Officer, IBPS RRB Office Assistant, IBPS SO, SBI SO, SSC, Railways and other competitive exams.

Current Affairs Quiz –  10th May 2023

In all Sarkari Exams/Govt Exams, Current Affairs Quiz which is asked generally framed on International News, National News, State News, Sports, Awards, Summits, Schemes, Books & Authors, Ranks & Reports, Important Days, Economy, Defence, Science & Technology, etc. To excel in the Current Affairs section of the competitive examinations you are required to cover Current Affairs Quiz in the above areas.

1. According to the ‘Half Yearly Report on Management of Foreign Exchange Reserves: October 2022 – March 2023’, what are the total foreign currency assets, at the end of March 2023?

  1. USD 555.34 billion
  2. USD 509.69 billion
  3. USD 411.65 billion
  4. USD 569.31 billion
  5. None of these

Show Correct Answers

Correct Answer:  B. USD 509.69 billion

Explanation:  According to the latest half-yearly report on foreign exchange management, as of end-March 2023, the RBI’s total foreign currency assets stood at $509.69 billion, with $411.65 billion invested in securities. This represents a significant increase in the share of securities, which has gone up by nearly 4 percentage points to 80.76% over the past six months. The remaining portion of the RBI’s foreign currency assets is deployed as deposits with other central banks, the Bank for International Settlements (BIS), and commercial banks.

  • US Treasuries and other sovereign securities are considered among the safest and most stable investments in the world. As such, they are a popular choice for central banks and other financial institutions looking to manage their foreign currency assets.
  • In addition to providing a stable source of income, investments in US Treasuries and other sovereign securities also help to diversify the RBI’s portfolio and reduce its exposure to risk.

2. According to the committee’s report, India should ban the use of diesel-powered four-wheelers in cities with over 10 lakh population by 2027. This committee is headed by _________.

  1. Rasaal Dwivedi
  2. Tarun Kapoor
  3. Rameswar Teli
  4. Chandra Mohan Sharma
  5. None of these

Show Correct Answers

Correct Answer:  B. Tarun Kapoor

Explanation:  The Ministry of Petroleum and Natural Gas said that the report by Energy Transition Advisory Committee (ETAC) which recommended a ban on diesel four-wheelers by 2027 is yet to be accepted by the government. Headed by former petroleum secretary Tarun Kapoor, the oil ministry panel in its report titled ‘The Green Shift’, said that India should ban the use of diesel-powered four-wheelers by 2027 in cities with over 10 lakh population and switch to electric and gas-fuelled vehicles.

India is among the top emitters of green house gases. Diesel accounts for about two-fifths of refined fuel consumption in India with 80 per cent of that being used in the transport sector. The country aims at producing 40 per cent of its electricity from renewables to achieve its 2070 net zero goal. For city buses, ETAC said no diesel city buses addition be allowed in urban areas. Long-distance buses in India will have to be powered by electricity in the long-term, it said, adding that gas can be used as a transition fuel for 10-15 years.

3. The Reserve Bank of Indi imposed a monetary penalty of ₹1.73 crores on which of the following banks for furnishing incorrect credit information?

  1. DBS Bank
  2. HSBC Bank
  3. HDFC Bank
  4. Axis Bank
  5. None of these

Show Correct Answers

Correct Answer:  B. HSBC Bank

Explanation:  The Reserve Bank has imposed a monetary penalty of ₹1.73 crore on HSBC for contravention of Credit Information Companies Rules, 2006 (CIC Rules). The Hongkong and Shanghai Banking Corporation Ltd (HSBC) furnished incorrect credit information in respect of a number of expired credit cards with nil dues to all four credit information companies.

  • “The examination of the Risk Assessment Report and all related correspondences pertaining to the same revealed, inter alia, contravention of the aforesaid rules by the bank to the extent that it furnished incorrect credit information in respect of a number of expired credit cards with nil dues, to all the four Credit Information Companies,” the RBI release said.
  • “The Statutory Inspection for Supervisory Evaluation (lSE) of the bank was conducted by RBI with reference to its financial position as on March 31, 2021, and the examination of the Risk Assessment Report and all related correspondences pertaining to the same revealed, inter alia, contravention of the aforesaid rules by the bank,” the central bank said.

4. According to the Fitch Ratings, what would be India’s GDP growth forecast for 2023-24?

  1. 6.9%
  2. 6.6%
  3. 6.0%
  4. 6.2%
  5. None of these

Show Correct Answers

Correct Answer:  C. 6.0%

Explanation:  Fitch  Ratings has lowered its 2023-24 GDP growth forecast for India to 6% from 6.2%, citing headwinds from elevated inflation and interest rates along with subdued global demand, with the economy expected to rebound to 6.7% in 2024-25 as opposed to 6.9% projected earlier. The rating firm has also re-affirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable outlook. A ‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity.

While India will be one of the fastest-growing sovereigns rated by Fitch, bolstered by “resilient investment prospects”, the firm said this year’s growth will be slower than the 7% expected in 2022-23, as pent-up domestic demand induced by the pandemic will fade along with faltering global demand.

5. Under the Atal Pension Yojana (APY), a subscriber would receive the guaranteed a minimum monthly pension at the age of ______.

  1. 62 years
  2. 55 years
  3. 60 years
  4. 50 years
  5. None of these

Show Correct Answers

Correct Answer:  C. 60 years

Explanation:  Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana completed eight years. These schemes are playing an instrumental role in providing social security net and affordable insurance to the people. These three schemes were launched by Prime Minister Narendra Modi on this day in 2015 from Kolkata in West Bengal. Under the Atal Pension Yojana, the subscribers would receive the guaranteed minimum monthly pension ranging from one thousand to five thousand after the age of 60 years, based on the contributions made by the subscriber.

6. ___________ has topped the ranking in the Everest 2023 PEAK Matrix Service Provider of the Year Awards for Information Technology (IT) services.

  1. Cognizant
  2. Infosys
  3. IBM
  4. Accenture
  5. None of these

Show Correct Answers

Correct Answer:  D. Accenture

Explanation:  Global IT research firm Everest Group has released its annual PEAK Matrix Service Provider of the Year Awards for Information Technology (IT) services. The rankings recognise large IT service providers with over $2 billion in annual revenue who have demonstrated superior capabilities and service strategies. For the seventh year in a row, Accenture has secured the number one spot in the rankings, followed by Tata Consultancy Services (TCS), Capgemini, Wipro, and HCLTech. TCS climbed to second place, while Capgemini and Wipro each rose three positions in the rankings over last year. The 2023 ITS rankings saw major ups and downs, with Capgemini moving up to third place from sixth, while Wipro moved up to fourth place from seventh. On the other hand, Infosys slipped to seventh from second, while HCL dropped to fifth from fourth and Cognizant to sixth from fifth. Newcomers to the ITS leaderboard this year include LTIMindtree (No. 10), EY (No. 18), Orange Business Services (No. 19), and EPAM (No. 20). Meanwhile, UST Global and EXL exited the list in 2023.

ITS Top 10 for 2023:

  1. Accenture has retained the top spot for the seventh consecutive year.
  2. TCS climbed up to the second position, improving from its third position last year.
  3. Capgemini moved up three spots to take the third position.
  4. Wipro rose to the fourth position from its seventh position last year.
  5. HCL Tech slipped to the fifth position, from its fourth position in the previous year.
  6. Cognizant dropped a position to take the sixth spot.
  7. Infosys experienced the biggest decline, slipping from the second position last year to the seventh position this year.
  8. NTT Corporation and IBM swapped positions, with NTT taking the eighth spot and IBM coming in ninth.
  9. LTIMindtree secured the tenth spot in the ITS Top 10 for 2023, as a new entrant.

7. Which card payments company has launched CVV-free payments for tokenized credit, debit cards?

  1. Helcim
  2. Visa
  3. Mastercard
  4. American Express
  5. None of these

Show Correct Answers

Correct Answer:  B. Visa

Explanation:  Visa, the pioneer in digital payments, has come up with a revolutionary solution to make online transactions smoother and safer. The company has launched CVV-free tokenized transactions for domestic payments in India, adhering to the guidelines issued by the Reserve Bank of India. This move will simplify online transactions, making them faster and more secure for Visa users. Being the first payment network to introduce this feature, Visa is leading the way toward a hassle-free and secure online payment experience for its customers.

  • CVV, which stands for card verification value, is a three or four-digit number located on the back of a physical debit or credit card. It is used as an additional security measure to ensure that the person making the transaction is a legitimate cardholder. When making an online transaction, the user is typically asked to enter the CVV along with the card number and expiration date.
  • CVV-free tokenisation allows customers to make online transactions without the need to enter their CVV every time. When a card is tokenised, the CVV is collected during the initial token provisioning, but merchants and acquirers can stop collecting CVV during subsequent token-based domestic CNP transactions.

8. International Day of Argania is observed on _________  to promote awareness and understanding of the argan tree’s environmental importance worldwide.

  1. 9th May
  2. 8th May
  3. 10th May
  4. 7th May
  5. None of these

Show Correct Answers

Correct Answer:  C. 10th May

Explanation:  Every year on May 10, the International Day of Argania or International Day of the Argan Tree is observed to promote awareness and understanding of the argan tree’s environmental importance worldwide. This holiday was established by UNESCO in 2021. In 1988, UNESCO declared the Arganeraie Biosphere Reserve, which is the endemic production area of the argan tree, as a designated area. Additionally, in 2014, UNESCO inscribed all the knowledge and know-how regarding the argan tree on the Representative List of the Intangible Cultural Heritage of Humanity.

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9. The Reserve Bank of India (RBI) has increased its gold reserves by _________ to 794.64 metric tonnes in the fiscal year that ended on March 31, 2023.

  1. 4.0%
  2. 4.2%
  3. 4.5%
  4. 4.7%
  5. None of these

Show Correct Answers

Correct Answer:  C. 4.5%

Explanation:  The Reserve Bank of India (RBI) has increased its gold reserves by 4.5% to 794.64 metric tonnes in the fiscal year that ended on March 31, 2023. The bank added 34.22 metric tonnes of gold during this period, which brought its total gold reserves up from 760.42 metric tonnes at the end of the previous fiscal year. The RBI has been building up its gold reserves for the last five to six years. As of March 31, 2023, the RBI’s gold reserves were valued at $45.2 billion, representing 7.81% of the country’s total foreign exchange reserves, up from 7% at the end of the previous fiscal year. The country’s foreign exchange reserves were valued at $578.449 billion as of March 31, 2023.

Of the RBI’s total gold reserves, 437.22 metric tonnes are held overseas in safe custody with the Bank of England and the Bank of International Settlements, while 301.10 metric tonnes are held domestically, according to the RBI’s half-yearly report on Management of Foreign Exchange Reserves-October 2022-March 2023. Gold deposits of 56.32 metric tonnes are also included in the total gold reserves.

10. Union Minister Sarbananda Sonowal has inaugurated Sittwe Port in which state, recently?

  1. Mizoram
  2. Sikkim
  3. Myanmar
  4. Arunachal Pradesh
  5. None of these

Show Correct Answers

Correct Answer:  C. Myanmar

Explanation:  Union Minister for Ports, Shipping and Waterways and AYUSH Sarbananda Sonowal and Deputy Prime Minister of Myanmar Admiral Tin Aung San jointly inaugurated Sittwe Port in Myanmar. Admiral Tin Aung San also received the first Indian cargo ship which was flagged off from Syama Prasad Mookerjee Port, Kolkata. The development of Sittwe port will reduce the cost and time of movement of goods between Kolkata and Agartala and Aizawl by 50 per cent. It will promote trade links and people-to-people ties between India and Myanmar and the wider region and help boost the economic development of the northeastern states.

Sittwe port

  • The project was envisaged to provide alternative connectivity of Mizoram with HaldiaKolkata or any Indian port through Kaladan River in Myanmar.
  • Sittwe Port has been developed as a part of the Kaladan Multi-Modal Transit Transport Project (KMTTP) funded under grant-in-aid assistance from the Indian government.
  • Once the waterway and road components of the KMTTP are fully operational, the east coast of India will be connected to the north-eastern states through the Sittwe port.
  • The commissioning of Sittwe port will increase bilateral and regional trade as well as boost the local economy of Myanmar’s Rakhine state.
  • The greater connectivity provided by the Port will lead to employment opportunities and enhanced growth prospects in the region.

 

11. The book titled “Made in India: 75 Years of Business and Enterprise” is authored by _________.

  1. Michael Bar-Zohar
  2. Amitabh Kant
  3. OP Manocha
  4. Sharmishtha Shenoy
  5. None of these

Show Correct Answers

Correct Answer:  B. Amitabh Kant

Explanation:  The book “Made in India: 75 Years of Business and Enterprise” is written by Amitabh Kant and published by Rupa Publications India. The book coincides with India becoming the 5th largest economy in the world, overtaking the United Kingdom after 75 years of independence. This book presents a multidimensional survey of India’s business heritage and culture to understand the country’s remarkably strong and resilient growth story of Indian business and enterprise. Through the book, Amitabh Kant aims to provide insight into the success of Indian businesses and enterprises and how they can move forward in the future. Amitabh Kant is a retired Indian Administrative Service (IAS) officer who served as the Chief Executive Officer (CEO) of the National Institution for Transforming India (NITI Aayog) from 2016 to 2022.

12. 9th May 2023 marks the _________ anniversary of the three major social security (Jan Suraksha) schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY).

  1. 6th
  2. 7th
  3. 8th
  4. 9th
  5. None of these

Show Correct Answers

Correct Answer:  C. 8th

Explanation:  9th May 2023 marks the 8th anniversary of the three major social security (Jan Suraksha) schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY). Union Minister of Finance Nirmala Sitharaman stated that till 26th April 2023, 16.2 crore, 34.2 crore and 5.2 crore enrolments have been done under PMJJBY, PMSBY & APY respectively.  The total enrollment under all three schemes are 55.6 crore. The two low-cost insurance schemes of PMJJBY and PMSBY and the guaranteed pension scheme of APY were launched by Prime Minister Narendra Modi on May 9, 2015, from Kolkata, West Bengal.

About the Schemes in Brief:

  • PMJJBY is an insurance scheme of the Ministry of Finance, offering life insurance cover for death due to any reason.  It is a one-year cover, renewable from year to year. All individual account holders of participating banks/ Post offices in the age group of 18 to 50 years are entitled to join.  It offers a renewable one-year term life cover of Rs 2 Lakh
  • PMSBY is an Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident. Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enrol under the scheme.
  • APY is an old-age income security scheme to addresses the longevity risks among workers in the unorganized sector and encourages the workers to voluntarily save for their retirement.

13. Who among the following was honoured with the Laureus World Sportsman Of The Year 2023 at the 2023 Laureus World Sports Awards?

  1. Lionel Messi
  2. Cristiano Ronaldo
  3. Kylian Mbappe
  4. Robert Lewandowski
  5. None of these

Show Correct Answers

Correct Answer:  A. Lionel Messi

Explanation:  Lionel Messi, Argentine professional footballer and forward of Ligue 1 club Paris Saint-Germain(PSG), was honoured with the Laureus World Sportsman Of The Year 2023 at the 2023 Laureus World Sports Awards. Shelly-Ann Fraser-Pryce, Jamaican track and field sprinter, won the Laureus World Sportswoman Of The Year 2023. This is the 2nd time that Lionel Messi has been honoured with the Laureus World Sportsman Of The Year Award. The winners of the 2023 Laureus World Sports Awards, the most prestigious honours in sport, were honoured in the ceremony held on 8th May 2023 in Paris, France. Laureus Awards 2023 marks the 24th edition of the Laureus World Sports Awards. The 2023 Awards will honour the most memorable sporting performances of 2022.

14. Samaresh Majumdar, who passed away recently, was a veteran ___________.

  1. Actor
  2. Author
  3. Film-maker
  4. Comedian
  5. None of these

Show Correct Answers

Correct Answer:  B. Author

Explanation:  Samaresh Majumdar passed away at the age of 79 in Kolkata, West Bengal. He was born on March 10, 1944 in Jalpaiguri, West Bengal. SamareshMajumdar made his writing debut with the novel titled “Dour” (Run), which was Published in “Desh” (a Bengali literary magazine) in 1976. The Dour novel was later made into a film in 1979. His famous Animesh quartet (a series of four novels) of Uttoradhikar, Kalbela, Kalpurush, and Mousalkal is now considered a modern classic. He won the Sahitya Akademi Award for the second novel of the series, ‘Kalbela’, in 1984, which was set against the backdrop of the Naxalite movement of West Bengal in 1960s and 1970s. It was later made into a film in the same name by director Gautam Ghosh in 2009. He was also credited for his creative character ‘Arjun’ (a detective cum science fiction character) in the detective novels “Adventures of Detective Arjun”. The 2013 film “Arjun – Kalimpong E Sitaharan” is based on Sitaharan Rahasya and Khunkharapi by Samaresh Majumdar. He published a Novel titled ‘BunoHaansh’ in PujabarshikiAnondolok, which was later made into a Bengali film named Buno Haansh in 2014.

15. Who among the following has won the ICC Men’s Player of the Month award for April 2023?

  1. Harry Brook
  2. Babar Azam
  3. Fakhar Zaman
  4. Shakib Al Hasan
  5. None of these

Show Correct Answers

Correct Answer:  C. Fakhar Zaman

Explanation:  The International Cricket Council (ICC) announced the winners of the ICC Player of the Month awards for April 2023. Fakhar Zaman of Pakistan wins the ICC Men’s Player of the Month award, and Thailand skipper Naruemol Chaiwai secures the ICC Women’s Player of the Month after both produced dominant match-winning performances for their countries in the One-Day International (ODI) format.

Daily GK and Current Affairs Quiz – 9th May 2023


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