Daily GK and Current Affairs Quiz – 15th May 2021

Correct Answer: C. Rs 6,000

Explanation: Prime Minister Narendra Modi recently released the eighth instalment of Prime Minister Kisan Samman Nidhi. The Government of India transfers Rs 6,000 to the account of small and marginal farmers. These funds are transferred in three instalments. The first instalment of Rs 2,000 is made between April and June. The second Instalment is made between August and November. The third instalment is made between December and March.

About PMKSN

• The scheme was begun in 2018.
• The scheme provides financial support to farmers who hold land ownership up to two hectares.
• Since its inception, the GoI has provided Rs 75,000 crores.
• It aims to cover 125 million farmers irrespective of their land size.

Correct Answer – E. $83 billion

Explanation: India was the largest recipient of remittances in 2020, as per the report, “Migration and Development Brief “ released by the World Bank. India has been the largest recipient of remittances since 2008. However, the remittance received by India in 2020 was over USD 83 billion, which is a drop of 0.2 per cent from 2019 (USD 83.3 billion). Globally, the remittance flow was USD 540 billion in 2020, which is 1.9% lower as compared to that of 2019, when it was USD 548 billion.

Top Five Countries

The top five remittance recipient countries in 2020, in current US dollar terms, were India, China, Mexico, the Philippines, and Egypt.The top five recipients in 2020, as a share of gross domestic product (GDP), were, by contrast, smaller economies: Tonga, Lebanon, Kyrgyz Republic, Tajikistan, and El Salvador.

Top Source Country For Remittance

The largest remittance-sending country in 2020 was United States (USD68 billion).It was followed by the UAE (USD43 billion), Saudi Arabia (USD34.5 billion), Switzerland (USD27.9 billion), Germany (USD22 billion), and China (USD18 billion).From India, the Remittances outflow in 2020 was USD 7 billion, against USD 7.5 billion in 2019.

Important Points:

• World Bank Headquarters: Washington, D.C., United States.
• World Bank Formation: July 1944.
• World Bank President: David Malpass

Correct Answer – E. Punjab

Explanation: Punjab Chief Minister Amarinder Singh has declared Malerkotla as the 23rd district of the state on May 14, 2021, on the occasion of Eid-ul-Fitr. Malerkotla is a Muslim-dominated area and has been carved out of the Sangrur district of the state. The government had promised that Malerkotla will be declared a district soon in 2017.

Important Points:

• Punjab CM: Captain Amarinder Singh.
• Punjab Governor: V.P.Singh Badnore.

Correct Answer – A. Manchester City

Explanation:  Manchester City has crowned Premier League champions for the third time in four seasons after Manchester United crashed to a 2-1 defeat against Leicester. United started the century dominating English football, now City is the force with five titles in 10 seasons and the biggest spenders on transfers and salaries. City has now won three Premier League titles and eight major trophies under Guardiola, who last year signed a new two-year contract to remain at the club until 2023.

Correct Answer – B. Jacinda Ardern

Explanation:  New Zealand Prime Minister, Jacinda Ardern has topped the ‘World’s 50 Greatest Leaders’ list for 2021, released by Fortune Magazine. The ‘World’s 50 Greatest Leaders’ list for 2021 is the eighth edition of the annual list which celebrates leaders, some well-known and others who aren’t so familiar, who made a difference amid the “truly unprecedented times” of the Covid-19 pandemic.From India, Adar Poonawalla, the chief executive officer (CEO) of Serum Institute of India (SII) is the only Indian among the top 10 names. He is placed in the 10th spot.

List of Top 10 Fortune’s World’s 50 Greatest Leaders 2021

1. Jacinda Ardern, Prime Minister of New Zealand
2. mRNA Pioneers
3. Dan Schulman, CEO of PayPal
4. Dr John Nkengasong, director of Africa Centres for Disease Control and Prevention
5. Adam Silver; Michele Roberts; Chris Paul, NBA Rescuers
6. Jessica Tan, founder of Ping An Group
7. Justin Welby, Archbishop of Canterbury for the Church of England/Anglican Church
8. Stacey Abrams, founder of Fair Fight
9. Reshorna Fitzpatrick, pastor for Proceeding Word Church, Chicago
10. Adar Poonawalla, CEO of Serum Institute of India

Correct Answer – C. Padmakumar M Nair

Explanation: Padmakumar M Nair of State Bank of India (SBI) will be the chief executive of National Asset Reconstruction Company (NARCL).a proposed entity for taking over bad loans of lenders, predominantly public sector banks. NARC, also called a ‘bad’ bank, is expected to be operational in June 2021.Nair, a career banker with SBI, has been chief general manager (CGM) in the stressed assets resolution group (SARG) of the bank since April 2020.Prior to his elevation in 2020, he worked as general manager in the SARG from 2017. He has worked mostly in the corporate banking segment in the last two decades.

Correct Answer – C. Federal Bank

Explanation: Federal Bank has entered into a strategic tie-up with Mashreq Bank of UAE, to facilitate money transfers from the UAE to India.The partnership will support Mashreq’s payment product “QuickRemit”, which was launched in 2017.The agreement made Mashreq bank as the first bank in the UAE to offer instant and same day credit facility to so many places, including the UK, Singapore, Philippines, Australia, Canada, Sri Lanka and majority of European countries.

Correct Answer – B. Tahera Quthbuddin

Explanation: Mumbai born American, Tahera Qutbuddin, Professor of Arabic Literature, Department of NELC, University of Chicago, won the Sheikh Zayed Book Award in 2021 for her book titled “Arabic Oration: Art and Function”. She became the first person from India to win the award.She won the award under the Arab Culture in Other Languages category.The awards under 8 different book categories were announced at the 15th annual Sheikh Zayed Book Award held in Abu Dhabi.The awards will be formally presented to the winners in a digital ceremony in May 2021 in Abu Dhabi.

Correct Answer – B. Muthoot Finance Ltd.

Explanation: The Muthoot Finance Limited collaborated with NIRA, a Bangalore-based fintech start-up to strengthen its digital footprint and enhance the personal loans growth.Loan Benefit under the partnership: The salaried customers could avail personal loan up to Rs 1 lakh from Muthoot Finance through the NIRA app (downloadable from Google’s Play store).NIRA fintech is offering small ticket personal loans to salaried customers of India’s middle class. They offer loans to the low-income salaried class starting with an income of Rs 12,000 per month onwards.

Correct Answer – A. Alexander Zverev

Explanation: Germany’s Alexander Zverev defeated Matteo Berrettini of Italy to win the Men’s Singles Title of the 2021 Madrid Open (19th Edition on ATP).This is the 2nd Madrid Open Title (previous one – 2018) & 4th Masters 1000 Title for Alexander Zverev.In the Women’s Singles Category, Belarus’ Aryna Sabalenka defeated World No.1 Ashleigh Barty (Australia) to clinch her maiden Madrid Open Title. The 2021 Madrid Open is the 20th edition of the Tournament in WTA .The 2021 Madrid Open was held from 30th April 2021 – 9th May 2021 at Manzanares Park Tennis Center (also known as Manolo Santana Stadium), Madrid, Spain.The Madrid Open is a Clay-court event.

Correct Answer – B. Goa

Explanation:The Goa Health Department has introduced the use of Baricitinib medicine in Covid treatment protocols.Baricitinib is generally used to treat rheumatoid arthritis in adults.The use of Baricitinib had prevented patients from reaching the oxygen stage/breathlessness.

Goa:

• Chief Minister – Pramod Sawant.
• Governor – Bhagat Singh Koshyari.
• Lok Sabha seats – 2.
• Rajya Sabha seats – 1.

Correct Answer – B. Arjan Bhullar

Explanation: Arjan Bhullar has become the first Indian-origin fighter to win a world title in a top-level MMA event.He defeated Filipino-American’s Brandon Vera to become the heavyweight world champion in the Singapore-based One Championship.He had also become the first Indian-origin freestyle wrestler to represent Canada at the Olympics.

Correct Answer – B. New Delhi

Explanation:  The National Gallery of Modern Art (NGMA), New Delhi is creating a virtual museum space through its online summer programme NAIMISHA 2021.This unique art fiesta will provide a platform to create and engage with the arts.The current duration of the programme is 17th May to 13th June 2021.The exhibition of selected artworks will be displayed on NGMA’s website.

Correct Answer: B. Amazon India

Explanation: In a global first for Amazon, Amazon India has announced the launch of miniTV.It is a free, ad-supported video streaming service available within the Amazon shopping app.miniTV will offer content from studios like TVF, Pocket Aces; tech expert Trakin Tech; comedians such as Ashish Chanchlani, Amit Bhadana; and food-related content from Kabita’s Kitchen and Gobble.