Daily GK and Current Affairs Quiz – 11th & 12th October 2020

Correct Answer: B. US

Explanation: In order to boost its economic ties with Bangladesh, the US will open its Foreign Commercial Service Office in Dhaka. Bangladesh and the US agreed to implement reforms to improve the investment climate for US-sourced Foreign Direct Investment (FDI) in Bangladesh. The US agreed to ask the American companies to invest in key sectors like energy, IT, pharmaceutics and agriculture.

Correct Answer – E. Both B & C

Explanation: IRCTC will restart the first set of private Tejas Express, Lucknow-New Delhi and Ahmedabad-Mumbai trains from 17th of October 2020. The operation of these two Tejas Trains was suspended from 19th of March 2020 due to spread of COVID-19 pandemic. Every alternate seat will be kept vacant following the social distancing norms for the initial period.

Correct Answer – B. Canada

Explanation: The Union Cabinet has approved an MoU between India’s Zoological Survey of India (ZSI) and Canada’s not-for-profit organization International Barcode of Life (iBOL). The MoU was signed in June 2020 between ZSI, a subordinate organisation under Ministry of Environment, and iBOL. The MoU will enable ZSI to participate in global level programmes like Bioscan and Planetary Biodiversity Mission.

Correct Answer – C. Japan

Explanation:  The Union Cabinet has given its approval for signing a Memorandum of Cooperation (MoC) in the field of cybersecurity between India and Japan. It is aimed at enhancing cooperation in emerging technologies, protection of critical infrastructure, cyberspace and to mitigate threats to communication networks. It will also strengthen the security of ICT infrastructure.

Correct Answer – C. SatSure Analytics

Explanation: Reliance General Insurance Company Ltd. (RGICL) has partnered with SatSure Analytics for satellite-based crop monitoring and predictive analytics support. It will help in better risk management and improving the efficiency of its crop insurance business operations. RGICL will supply extensive ground observation data and generate timely reports through SatSure’s SAGE platform.

Correct Answer – C. Louise Glück

Explanation: The Nobel Prize in Literature for 2020 is awarded to the American poet Louise Glück “for her unmistakable poetic voice that with austere beauty makes individual existence universal”. The Nobel Prize in Literature is awarded by The Swedish Academy, Stockholm, Sweden. The American poet Louise Glück was born in 1943 in New York and lives in Cambridge, Massachusetts.

Correct Answer – B. Kuwait

Explanation: The Kuwaiti government, headed by Prime Minister(PM) Sabah Al Khalid Al Sabah submitted its resignation to Emir Nawaf Al Ahmed Al Jaber Al Sabah in anticipation of the upcoming general elections that are due to be held in November 2020. He took charge as the PM in 2019. He started his career in 1978, joining the ministry of foreign affairs, where he worked at various capacities, including being a member of Kuwait’s permanent mission to the United Nations (1983-1989).

Correct Answer – C. 10th October

Explanation: World Migratory Bird Day is observed globally on 9 May or 10th October. The Day will celebrate the biannual migration. The aim of the day is to raise awareness of migratory birds and the importance of international cooperation to conserve them. This time the theme of World Migratory Bird Day 2020 is “Birds Connect Our World”. The theme highlights the importance of conserving and restoring the ecological connectivity and integrity of ecosystems that support the natural cycles that are essential for the survival and well-being of migratory birds.

This day is organized by a collaborative partnership among two UN treaties the Convention on Migratory Species (CMS) and the African-Eurasian Migratory Waterbird Agreement (AEWA) and the Colorado-based non-profit organization, Environment for the Americas (EFTA). This day is a global campaign dedicated to raising awareness of migratory birds and the need for international cooperation to conserve them.

Correct Answer – B. Axis Bank

Explanation:  Axis Bank in partnership with India’s full-service carrier, Vistara launched a Co-Branded Forex Card, ‘Axis Bank Club Vistara Forex Card’ to cater to the needs of international travellers. This is the 1st-ever collaboration by a bank and an Indian airline for a co-branded forex card. The multi-currency forex card enables customers to travel to international destinations in a cashless and hassle-free manner.

Correct Answer – A. Nityanand Nayak

Explanation: Noted Odia poet, Nityanand Nayak will be conferred the prestigious Sarala Puraskar for his poetry work ‘Setebelaku Nathiba’, published in 2017. The poet will be felicitated with a cash award of `5 lakh and a citation. Two other eminent personalities from the State – Ranjit Kumar Nag and Shyamsundar Pattanaik – will be felicitated for their contribution to fields of music and art respectively. While Nag will be awarded the Ila Panda Sangeet Samman, Pattanaik would be felicitated with Ila Panda Chitrakala Samman. The awards comprise a cash award of `1,50,000 and a citation.

Correct Answer: A. 9.6%

Explanation: The World Bank projected India’s GDP to contract by 9.6% this FY-21, which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic. The World Bank earlier in June had estimated the Indian economy to shrink by 3.2% in the current fiscal. The World Bank recently released its report titled ‘South Asia Economic Focus’, noting that the country’s economic situation is much worse than ever seen before. The report also forecasted a sharper than expected economic slump across the South Asian region, with regional growth expected to contract by 7.7% in 2020, after topping 6% annually in the past five years. Regional growth is projected to rebound to 4.5% in 2021.

Explanation: Amazon India has partnered with ‘Indian Railway Catering and Tourism Corporation’ (IRCTC), to provide its customers with the facility to book reserved train tickets on Amazon. With this launch, the e-commerce company’s digital payments arm Amazon Pay adds another travel category, thereby offering its customers a one-stop-shop for booking flights, bus and train tickets.

Correct Answer – B. State Bank of India

Explanation:  National Bank for Agriculture and Rural Development (NABARD) has inked three Memorandum of Understanding (MoU) with State Bank of India (SBI) to extend credit support for various NABARD projects. The MoUs were inked by D. K. Mishra, Chief General Manager of NABARD in Gujarat and Dukhbandhu Rath, Chief General Manager, SBI Ahmedabad Circle in the presence of NABARD Chairman G. R. Chintala.

Correct Answer: A. 9.5%

Explanation: The Monetary Policy Committee of the Reserve Bank of India met on 7th, 8th and 9th October for its third meeting of 2020-21. Reserve Bank of India (RBI) governor Shaktikanta Das has announced crucial policy decisions at the Bank’s 3rd bi-monthly monetary policy.

• The repo rate under the liquidity adjustment facility (LAF) has been kept unchanged at 4.00%.
• The reverse repo rate under the LAF has been kept unchanged at 3.35%.
• The marginal standing facility (MSF) rate and the Bank Rate have been kept unchanged at 4.25%.
• The Reserve Bank of India (RBI) will introduce on-tap targeted long-term repo operations (TLTRO) for banks to borrow up to Rs 1 trillion from the window and invest in corporate bonds and other debt instruments of certain sectors. The on-tap TLTROs will have tenors of up to three years at a floating rate linked to the policy repo rate and the scheme will be available up to 31 March 2021.
• Real GDP growth is expected to be negative. The RBI’s MPC has pegged the real GDP growth for FY21 to contract by 5%.