Daily GK and Current Affairs Quiz – 11th May 2021

Correct Answer: C. Italy

Explanation: Bajaj Finance is all set to join the likes of Paytm and Amazon in the prepaid payment segment with the Reserve Bank of India (RBI) approving the non-bank lender’s foray with perpetual validity.The move is part of Bajaj Finance’s broader strategy to expand its digital offerings. RBI has granted authorization to the Company for issuance and operation of semi-closed Prepaid Payment Instruments with perpetual validity.

About the Prepaid payment instrument: 

• A semi-closed PPI is effectively a digital wallet but one through which transactions can flow to merchants and establishments other than the one offering the wallet services.
• The wallet will become a part of Bajaj Pay, which is the company’s bid to provide an integrated platform for all payments solutions.
• Semi-closed System PPIs allow you to make payments to multiple merchants through the platform.
• Cash withdrawal services, however, still remain prohibited.

Important Points:

• Bajaj Finance Headquarters: Pune, Maharashtra;
• Bajaj Finance CEO: Sanjiv Bajaj.

Correct Answer – E. Dost for Life

Explanation: Central Board of Secondary Education (CBSE) has launched a new mobile app for students and parents. The new app ‘Dost for Life’ is an exclusive psychological counselling app for students and parents of CBSE-affiliated schools. The new App will simultaneously cater to students and parents from CBSE-affiliated schools in different geographies across the world.

About the app

The app will also provide students with other resource material such as suggestive course guides for after senior secondary education, tips on mental health and well being, and a ‘corona guide’ with information on daily safety protocol, learning from home and self-care.The counselling sessions shall be provided to students of classes 9-12 by 83 volunteer counsellors and school principals.The sessions will be free of cost and provided on Mondays, Wednesdays and Fridays.Students and parents will be able to choose the time slot for the sessions, either between 9:30 am and 1:30 pm or between 1:30 pm and 5:30 pm.

Important Points:

• CBSE Chairman: Manoj Ahuja;
• CBSE Head Office: Delhi;
• CBSE Founded: 3 November 1962.

Correct Answer – D. NITI Aayog

Explanation: The NITI Aayog has released a report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’. NITI Aayog has released the report in collaboration with Mastercard. The report identifies the various challenges faced in accelerating digital financial inclusion in India and also provides recommendations for making digital services accessible to its 1.3 billion citizens.

Key recommendations in the report

• The report includes strengthening the payment infrastructure to promote a level playing field for NBFCs and banks;
• Digitizing registration and compliance processes and diversifying credit sources to enable growth opportunities for MSMEs;
• Building information-sharing systems, including a ‘fraud repository’, and ensuring that online digital commerce platforms carry warnings to alert consumers to the risk of frauds;
• Enabling agricultural NBFCs to access low-cost capital and deploy a ‘physical (physical + digital) model for achieving better long-term digital outcomes.
• Digitising land records will also provide a major boost to the sector and to make city transit seamlessly accessible to all with minimal crowding and queues, leveraging existing smartphones and contactless cards, and aim for an inclusive, interoperable, and fully open system such as that of the London ‘Tube’.

Important Points:

• NITI Aayog Formed: 1 January 2015.
• NITI Aayog Headquarters: New Delhi.
• NITI Aayog Chairperson: Narendra Modi.
• Mastercard Headquarters: New York, United States.
• Mastercard President: Michael Miebach.

Correct Answer – C. Shakoor Rather

Explanation: “Life in the Clock Tower Valley” is the debut book of Press Trust of India (PTI) journalist Shakoor Rather. The book is published by Speaking Tiger, it talks about Kashmir’s pristine past, its grievous present and always-uncertain future. It also includes historical and political information about Kashmir as well as environmental issues that are seldom talked about. Besides talking about various aspect of life in the Valley, the author also describes in detail how different characters pop up in its streets during different seasons: “life-size scarecrows during summers to frighten the unrelenting birds hovering over the paddy fields, and the ceremonial snowmen that delight the neighbourhood children celebrating the much-awaited snowfall”.

Correct Answer – D. Ujjwala Singhania

Explanation: Ujjwala Singhania has been appointed as the National President of FICCI Ladies Organization (FLO), the oldest women-led & women-centric business chamber of Southeast Asia. As the 38th National President of FLO Singhania will focus on empowering women by facilitating an enabling environment that promotes entrepreneurship, industry participation and economic development of women.Under her leadership, FLO will carry out many interventions towards fostering larger contributions of women in India’s Industrial and economic growth story.

FICCI FLO

• FLO was established in 1983.
• As a division of the Federation of Indian Chambers of Commerce and Industry (FICCI).
• Aims: Women’s economic participation along with their increased ownership and control of productive assets will speed up the development of India and Women-led development will pave the way for self-reliant India in true sense”.

Correct Answer – D. 11th May

Explanation: National Technology Day is celebrated every year on May 11 to highlight the achievements of engineers and scientists in the field of technology and science.The day acts as a reminder of the country’s technological advancements. It was first observed on May 11, 1999, and aims to commemorate the scientific and technological achievements of Indian scientists and engineers.National Technology Day holds great importance because on this particular day in 1998, India achieved multiple notable technological progressions.Every year since 1999, the Technology Development Board (TDB) commemorates the day by honouring technological innovations that have added to the national growth.The theme of the National Technology Day 2021 is “Science and Technology for a Sustainable Future”.

Correct Answer – A. Arun Kumar Singh

Explanation: The Public Enterprises Selection Board (PESB), the government’s head-hunter, has picked Arun Kumar Singh as the chairman and managing director of state-run oil refining and marketing firm Bharat Petroleum Corporation Ltd (BPCL).Arun Kumar Singh is currently director, marketing at BPCL and holding additional charge of Director, Refineries.

Correct Answer – B. SpaceX

Explanation: Elon Musk-owned SpaceX is set to launch the “DOGE-1 Mission to the Moon”, the first-ever commercial lunar payload, paid entirely in the cryptocurrency Dogecoin.The satellite is scheduled to be launched in the first quarter of 2022 onboard the Falcon 9 rocket. The dogecoin-funded mission is led by the Canadian company Geometric Energy Corporation (GEC).SpaceX will carry a 40-kilogram cube satellite dubbed as DOGE-1, as rideshare on a Falcon 9 rocket.The payload will obtain lunar-spatial intelligence from sensors and cameras on board with integrated communications and computational systems.This launch will make DOGE the first crypto in space as well as the first meme in space.

Correct Answer – B. 32nd

Explanation: London-based property consultant Knight Frank has ranked New Delhi and Mumbai in 32nd and 36th positions respectively in the Global Prime Residential Index.While Bengaluru moved down by four places in Q1 2021 and is ranked 40; Delhi and Mumbai dipped one place each in the same period.Three Chinese cities – Shenzhen, Shanghai and Guangzhou lead the index this quarter. Shenzhen recorded the strongest performing world region with a growth of 18.9%, while New York was the weakest performing market with negative 5.8% growth. Some of the world’s top metropolises, New York, Dubai, London, Paris and Hong Kong are seeing prices soften. New York was the weakest-performing global city during the period.

Correct Answer – B. Tokyo

Explanation:  The 3rd Arctic Science Ministerial (ASM3) 2021 held in Tokyo, Japan from May 8-9, 2021, it was jointly organized by Iceland & Japan.The ASM3 2021 is the 1st meeting to be held in Asia.The theme for 2021 is ‘Knowledge for a Sustainable Arctic’.ASM is a global platform for discussing research and cooperation in the Arctic region, it is an event initiated by the Arctic Council, a high-level intergovernmental forum.Union Minister for Earth Science Dr Harsh Vardhan virtually represented India in the meeting.

Correct Answer – D. 45

Explanation: Renewable energy grew at its fastest pace in two decades in 2020, led by China, and will continue to grow in the next two years.This was stated in a report by the International Energy Agency (IEA).New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) in 2020, the largest year-on-year increase since 1999, even though there were supply chain disruptions.

Correct Answer – A. 20

Explanation: India’s cold chain sector is expected to grow at over 20 percent CAGR by 2025, according to JLL (Jones Lang LaSalle Incorporated).This is due to its transformation from conventional cold storage to modern storage space.As per JLL, there is an opportunity for organized cold storage or ‘palettized’ cold storage in tier-I cities like Mumbai, Delhi-NCR, Bengaluru, Chennai, Pune, Kolkata, and Hyderabad.

Correct Answer – A. Flipkart

Explanation: Flipkart will strengthen its grocery supply chain infrastructure across the country and add over 800,000 sq. ft of space through five new fulfillment centers over the next three months.With this additional infrastructure, the marketplace will bring ease of online grocery shopping to more users across the country.Flipkart Grocery offers over 7,000 products across 200 categories.

Correct Answer: A. Bank of Baroda

Explanation: Bank of Baroda has launched a micro-website that will serve as an emergency networking platform for all employees amid the 2nd wave of COVID-19.The microsite will offer vital data, including a network of plasma donors to employees.Recovered employees can also enroll themselves voluntarily as donors.The site is also hosting external links for suppliers of oxygen cylinders and Remdesivir.