Daily GK and Current Affairs Quiz – 12th February 2021

Correct Answer: B. 2nd Monday of February

Explanation: The International Epilepsy Day is observed on the second Monday of February every year across the world.In 2021, the International Epilepsy Day was observed on February 08. The day is organised jointly by the International Bureau for Epilepsy (IBE) and the International League Against Epilepsy (ILAE) to raise awareness about epilepsy and highlight the kinds of problems faced by victims, their friends and family.Epilepsy is a neurological disorder which makes a person go through sudden and recurrent episodes of sensory disturbances.

Correct Answer – A. Women Scientists at the forefront of the fight against COVID-19

Explanation: International Day of Women and Girls in Science is observed globally on 11 February. International Day of Women and Girls in Science to recognize the critical role of women and girls play in science and technology. In December 2015, the United Nations adopted a resolution to celebrate February 11 as the International Day of Women and Girls in Science. The Day is implemented by UNESCO and UN-Women in collaboration with institutions and civil society partners that aim to promote women and girls in science.The 2021 theme of the Day is “Women Scientists at the forefront of the fight against COVID-19”.

Correct Answer – E. UAE

Explanation: The United Arab Emirates (UAE) has put a probe called Hope in the orbit around the MARS. UAE has become the fifth country to launch the spacecraft into the orbit of MARS after United States, Soviet Union, Europe and India. With the successful launch of spacecraft in orbit, UAE scientists can now study the planet’s atmosphere. The space mission will carry the study on daily and seasonal weather cycles and weather events such as dust storm in the lower atmosphere. It will study how the weather varies in different regions on the MARS.

About the mission:

The spacecraft had left the Earth seven months ago.The spacecraft carries three instruments with it to observe how neutral atoms of Oxygen and Hydrogen leak into space. The hydrogen and oxygen came into the MARS’ atmosphere are the remnants from Mars’ once abundant water.The Hope spacecraft will bring the spectacular, high-resolution, full-disk images of MARS.The spacecraft also seeks to study why the planet is losing the hydrogen and oxygen into space.

Correct Answer – A. Rs 20,000 crores

Explanation:  Reserve Bank of India (RBI) has announced that it will purchase four government securities (G-Secs) that amount to ₹20,000 crores. The central bank will purchase it on February 10, 2021, under the open market operations (OMOs). This move was announced in aftermath of the yields that were moving up to touch the intra-day high of 6.1634 per cent recently. The RBI was concerned about the higher government borrowing.After the announcement of the OMO purchase was made, the yield on the benchmark 10-year G-Sec slowed down by 3-4 basis points. It now carries a coupon rate of 5.77 per cent as opposed to its previous closing yield of 6.1283 per cent.

What is the Open Market Operation?

Open Market Operations are the purchase and sale of the Government securities (G-Secs) by RBI from and to the market. The Open Market Operations are conducted with the objective of adjusting the rupee liquidity conditions in the economy. In such operations, when RBI sells the government security in the market banks use to purchase them. When the banks purchase the Government securities, their ability to lend money to the industries, households and other commercial sector gets reduced. Following the reduced surplus cash, the liquidity of the rupee also contracts. This results in contraction of the credit creation or the credit supply. On the other hand, when the RBI purchases the securities, commercial banks find gets surplus cash and this in turn creates more credit in the system.

What are government securities or G-Sec?

Government securities are the debt instruments which are issued by the government to borrow money. It is divided into two categories namely,Treasury bills are short-term instruments. They get mature in 91 days, 182 days, or 364 days.Dated securities which are the long-term instruments. They get mature in between 5 years to 40 years.

Correct Answer – B. State Bank of India

Explanation: Meghalaya Police has signed a Memorandum of Understanding (MoU) with SBI Bank for implementation of e-Challan in the jurisdiction of Shillong Traffic Police (STP).e-Challan system is a digital traffic enforcement solution through which penalties for violators of traffic rules & generation of challans will be carried out digitally.The e-Challan system has been integrated with VAHAN & SARATHI, which are the flagship applications of MoRTH (Ministry of Road Transport & Highways).The Integration with VAHAN & SARATHI will help traffic officials in gathering the information of traffic violations such as Vehicle & Driver’s details.Traffic violators can pay fines using instant card payments by swiping at Point of Sale (PoS) machines or by producing e-Challan at the respective Traffic Unit.

Correct Answer – C. 20%

Explanation: The book titled ‘Making of a General –The Central Government is all set to sell 20% stake in National Fertilizers Ltd (NFL) out of its shareholding of 74.71% through an Offer For Sale (OFS) method of shares, which can fetch about Rs 400 crore.To initiate the sale process, the Department of Investment and Public Asset Management (DIPAM) has invited tenders from merchant banks.It should be noted that NFL is the second largest producer of Urea in the country with a share of about 15% of total Urea production in the country.

Correct Answer – A. Indian Navy

Explanation:  Indian Navy’s Largest War Game – the Biennial ‘Theatre Level Operational Readiness Exercise (TROPEX 21)’ is currently taking place at the Indian Ocean Region (IOR). Operational assets of the Indian Navy as well as Indian Army, Indian Air Force and Coast Guard were participating in the Exercise.The exercise started in early January 2021 and is expected to end by the Third Week of February, 2021.The main objective of the exercise is to validate the Navy’s Offensive-Defence capabilities, safeguarding national interests in the Maritime domain and promoting stability and peace in the IOR.It will help in honing the warfighting skills of the force and help in keeping with the theme of being a ‘Combat Ready, Credible and Cohesive Force’.

Correct Answer – B. Stand Up India Scheme

Explanation: The Small Industries Development Bank of India (SIDBI) and Confederation of Women Entrepreneurs of India (COWE) have launched “Swavalamban Sashakt- Mega campaign” to encourage and to create awareness about the Stand Up India (SUI) scheme of Central Government.The Swavalamban Sashakt is a 20 webinar series to give a fillip to ‘Stand Up India’ scheme.The scheme was launched in 2016 and has been extended up to 2025.The scheme is a flagship programme launched by Prime Minister Narendra Modi to facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one SC or ST borrower and at least one woman borrower per bank branch.The loan will be provided for setting up greenfield enterprise in manufacturing, services or the trading sector.

Correct Answer – C. RP Gupta

Explanation: Jual Oram, Member of Parliament and the chairman of the standing committee on defence released the RP Gupta’s new book on creating awareness among masses. The book was published by Himalaya Publishing House.Along with a number of parliamentarians, Soma Mondal, the chairperson of Steel Authority of India Limited (SAIL) participated in the event.The book explains the economic history of India which enables it to identify the strengths and weaknesses and helps to take the required corrective actions.This is an intimate narrative of the experiences and journey of RP Gupta towards achieving success through hard work and determination.The book highlights the modes and strategies required to transform India into a vibrant economy among the developed nations.

Correct Answer – C. NVIDIA

Explanation:  NVIDIA and SoftBank Group Corp. (SBG) announced a definitive agreement under which NVIDIA will acquire Arm Limited from SBG and the SoftBank Vision Fund (together, SoftBank) for USD 40 billion in September 2020. This will be the largest-ever deal in the semiconductor industry.Under the deal, NVIDIA will pay Softbank USD 21.5 billion in common stock and USD 12 billion in case, USD 2 billion of which will be payable at signing.Another USD 5 billion in cash or stock may also be given to Softbank, depending on Arm’s performance.NVIDIA will also issue USD 1.5 billion in equity to Arm employees.

Correct Answer – B. Nitin Gadkari

Explanation: India’s first-ever diesel tractor converted to CNG was formally launched by the Union Minister for Road Transport and Highways Nitin Gadkari on 12 February 2021.The conversion, carried out jointly by Rawmatt Techno Solutions and Tomasetto Achille India will help farmers increase their income, by lowering costs.Farmers will be to save more than Rs 1 lakh annually on fuel costs.

Correct Answer – A. Goa

Explanation: Goa has become the 6th State in the country to successfully undertake Urban Local Bodies reforms stipulated by the Department of Expenditure.It has now become eligible to mobilize additional financial resources of Rs 223 crore through Open Market Borrowings.Goa has joined five other states – Andhra Pradesh, MP, Manipur, Rajasthan, and Telangana, who have completed Urban Local Bodies reforms.

Correct Answer – C. Morocco

Explanation: Morocco received the second batch of 4 million doses of the AstraZeneca vaccines, manufactured by India’s Serum Institute, on 11 February 2021.The latest batch of vaccines follows 2 million doses received in Jan 2021.The country has ordered enough vaccines for 33 million people and aims to inoculate 80% of the population.

Correct Answer: A. Narendra Modi

Explanation: Prime Minister Narendra Modi will inaugurate the Maritime India Summit-2021 on 2 March 2021.It will be held from 2-4 March 2021.It is being organized by the Ministry of Ports, Shipping, and Waterways jointly with the Federation of Indian Chambers of Commerce & Industry (FICCI) as the industrial partner.The entire summit will be held on virtual platform www.maritimeindiasummit.in.