Daily GK and Current Affairs Quiz – 16th March 2023

Correct Answer:  B. 18

Explanation:  Recently, the Government announced that the Reserve Bank of India (RBI) has authorized banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) for settling payments in Indian rupees. SVRAs could be set up by banks of partner countries by approaching Authorized Dealer (AD) banks in India that may get permission from the RBI after the due procedure. The RBI had granted approval to “domestic and foreign AD Banks in 60 cases for opening SRVAs of banks from 18 nations — Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and the United Kingdom. Of the 18 countries mentioned, Russia has been vociferous in employing commerce in local currency for the broader goal of “de-dollarisation”.

Special Vostro Rupee Accounts (SVRAs)?

• SVRA is an account that domestic banks hold for foreign banks in the former’s domestic currency, the rupee, allowing domestic banks to provide international banking services to their clients who have global banking needs without having to be physically present abroad.
• It is a supplement to the existing system that employs freely convertible currencies.

• They are used by domestic banks to gain wider access to financial markets and provide international banking services to clients without being physically present.
• It is an integral component of correspondent banking, which involves a bank or intermediary conducting transactions, facilitating wire transfers, accepting deposits and gathering documents on behalf of the other bank.

Correct Answer:  C. Singapore

Explanation:  Operation Bold Kurukshetra, a bilateral armour training exercise, was held from March 6–13, 2023, in Jodhpur Military Station in India. It was the 13th iteration, and the Singapore Army and Indian Army both took part. Both armies participated in the first command post exercise in the series, which included computer wargaming and planning components at the battalion and brigade levels. Participants in the exercise, which was held by the Indian Army, included members of the 42nd Battalion, Singapore Armoured Regiment, as well as an Indian Army Armoured Brigade.

Joint training, which started on March 5th, promoted a shared understanding of mechanised warfare in regards to new threats and developing technologies. It also developed interoperability through a wargame based on computer simulation that used joint operational and tactical procedures that were managed by a joint command post. In addition to learning about one another’s operating procedures and drills, both contingents also shared ideas and best practises that are used in contemporary combat environments.

Correct Answer:  C. GPT-4

Explanation:  GPT4, the most recent release of OpenAI’s large language model, which powers popular apps like ChatGPT and the new Bing, has been announced. According to San Francisco-based research company OpenAI, GPT-4 is more advanced than the previous version and has been trained on more data, costing more to operate. Generative Pre-trained Transformer (GPT) is a deep learning method that uses artificial neural networks to generate writing that resembles that of a person. “GPT-4” refers to the fourth release of OpenAI’s software, which stands for “generative pre-trained transformer 4”.

• As per the company GPT4“can tackle challenging issues with better accuracy” and is “more creative and collaborative than ever before.”
• In assignments involving creative and technical writing, GPT-4 can generate, revise, and iterate with users. The new launched model can react to both text and graphics.
• GPT-4may produce analyses, classifications, and captions.
• Additionally, GPT-4 can handle 25,000 words of text, allowing for prolonged chats, content creation, and document search and analysis.
• According to San Francisco-based,OpenAI, the newly launched model will generate less factually wrong responses.
• In fact, the business asserts that GPT-4 outperforms humans on numerous benchmark tests.
• For instance, according to OpenAI, GPT-4 scored at the 90th percentile on a mock bar exam, the 93rd percentile on a SAT reading test, and the 89th percentile on a SAT math test.
• The corporation is aware of GPT-4’s drawbacks, such as “social biases,” “hallucinations,” and “adversarial cues,” though.

Correct Answer:  B. 5

Explanation:  A High Level Committee meeting, chaired by Union Home Minister, Amit Shah  approved Rs 1,816.162 crore of additional Central assistance to five States. This additional central assistance has been given under the National Disaster Response Fund (NDRF) to five states affected by floods, landslides, cloud bursts during 2022. This additional assistance is in addition to the funds released by the Center to the states in the State Disaster Response Fund (SDRF). During the financial year 2022-23, the central government has released Rs 15,770.40 crore to 25 states in their SDRF and Rs 502.744 crore to 4 states from NDRF.

Additional central assistance to five states

1. Rs 520.466 crore to Assam
2. Rs 239.31 crore to Himachal Pradesh
3. Rs 941.04 crore to Karnataka
4. Rs 47.326 crore to Meghalaya
5. Rs 68.02 crore to Nagaland

Correct Answer:  C. Bureau of Indian Standards (BIS)

Explanation:  The Bureau of Indian Standards (BIS) has announced the launch of ‘Learning Science through Standards‘, a unique initiative for students to learn science through standards. The initiative focuses on a range of lesson plans aimed at using scientific concepts, principles and rules. It helps the students to understand their practical applications in manufacturing, working and testing the quality characteristics of various products as stated in the respective Indian Standards. The topics of the lesson plans are largely related to products used in daily life and are selected on the basis of their relevance to education as part of the curriculum as well as industrial applications. BIS officials and resource personnel will administer the lesson plans to the students for an interactive learning experience. Bureau of Indian Standards is the national standards body of India under the Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution, Government of India.

Correct Answer:  D. Reliance Industries Ltd

Explanation:  Competition Commission of India said that it has cleared Reliance Industries Ltd’s Rs 2,850 crore acquisition of the Indian business of German retailer Metro AG. The deal, announced nearly three months ago, will help Reliance strengthen its wholesale format and cement its position as the biggest player in India’s burgeoning retail industry with stores spanning electronics, groceries and fashion. Metro has been active in the Indian market since 2003 and reported sales of about Rs 7,700 crore for the financial year ended September 2022. It operates 31 stores in 21 cities and is mostly a supplier to restaurants and smaller businesses. The German retailer had said in its first quarter earnings statement that it sees a transaction gain in EBITDA terms of around 150 million euros ($160.49 million) from the deal.

• Retail Ventures Ltd (RRVL), a subsidiary of the oil-to-telecom conglomerate, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India Pvt Ltd for a total cash consideration of ₹2,850 crore as the conglomerate run by billionaire Mukesh Ambaniseeks to strengthen its dominant position in India’s mammoth retail sector.
• RIL is the country’s biggest brick-and-mortar retailer with over 16,600 stores, and a strong wholesale unit would further deepen its operations in India.

Correct Answer:  D. Amitava Mukherjee

Explanation:  Amitava Mukherjee, NMDC Director (Finance), has been given the additional responsibility of Chairman-Cum-Managing Director. Mukherjee, an Indian Railway Accounts Service (IRAS) officer from the 1995 batch, has a Master’s in Commerce from Guru Ghasidas Vishwavidyalaya in Bilaspur and is also a Cost Accountant. His leadership enabled the timely completion of NMDC Steel Ltd’s demerger from NMDC Ltd. His areas of expertise are project management, digital initiatives, and policy formulation.

The nation’s largest iron ore producer said in a BSE filing that he has successfully led the Australia operations of NMDC to the pre-production stage (gold) and also finalised a strategic tie-up with a significant international mining giant Hancock. He has also prospected quickly and capitalised on an iron ore mining tenement. He served as Rail Vikas Nigam Ltd.’s General Manager (Finance) before joining NMDC. He worked with IRAS from 1997 to 2016 and held a crucial position with the Eastern Railroad. He spent the years 1994 to 1997 working for Indian Oil Company Ltd. before joining IRAS.

Correct Answer:  C. Rs.9.60 lakh

Explanation:  The Reserve Bank of India (RBI) imposed a monetary penalty of ₹9.60 lakh (Rupees Nine lakh sixty thousand only) on Nuvama Wealth Finance Limited (formerly known as Edelweiss Finance and Investments Limited) (the company) for non-compliance with certain provisions of the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934.

Correct Answer:  B. Sivasankari

Explanation:  Tamil writer Sivasankari has been selected for Saraswati Samman for the year 2022 for her book
“Survya Vamsam”. It is a book of memoirs in Tamil language and was published in 2019. Saraswati Samman instituted by the K.K. Birla Foundation in 1991 is recognized as the most prestigious and the highest literary award in the country. It carries an award money of 15 lakh rupees, a Citation and a Plaque.

Correct Answer:  B. fourth

Explanation:  Delhi ranked fourth on a list of 50 of the world’s most polluted cities in terms of PM2.5 levels in 2022, according to the World Air Quality Report prepared by IQAir. Delhi had an average PM2.5 level of 92.6 μg/m3 in 2022, a little below the average of 96.4 μg/m3 in 2021. The most polluted city in the world was found to be Lahore, followed by Hotan in China, and Bhiwadi in Rajasthan. The report makes a distinction between New Delhi and Delhi, with New Delhi having an annual average PM2.5 level of 89.1 μg/m3. New Delhi is the second most polluted capital city in the world. This is on a list of 116 capital cities, with N’Djamena in Chad topping this list with only a marginally higher PM2.5 level of 89.7 μg/m3.

The 2022 report is based on PM2.5 data from 7,323 cities and 131 countries. A total of 39 Indian cities (including ‘Delhi’ and ‘New Delhi’) are on the list of 50 of the world’s most polluted cities based on annual average PM2.5 levels in 2022. These include cities like Noida, Gurgaon, Bulandshahr, Meerut, Charkhi Dadri, Jind, Ghaziabad, Faridabad, and Greater Noida. IQAir is a Swiss air quality technology company that prepares annual world air quality reports based on data from monitoring stations operated by governments and other institutions and organisations across the world.

Correct Answer:  B. 14th March

Explanation:  Every year on March 14, the International Day of Mathematics, also known as Pi Day, is observed to honour the mathematical constant Pi, which expresses the proportion of a circle’s circumference to its diameter. The value for Pi is 3.14. Every year, all nations are welcome to take part in events that are open to the public and students in schools, museums, libraries, and other locations. At its 205th meeting, the Executive Council of UNESCO declared March 14 to be the International Day of Mathematics. According to the celebration’s official website, the theme for Pi Day 2023 is “Mathematics for Everyone,” which was suggested by Marco Zarco Rotairo of Trece Martires City National High School in the Philippines.

Correct Answer:  C. Aniruddhan Vasudevan

Explanation:  Tamil writer Perumal Murugan’s novel ‘Pyre’ has been selected for the International Booker prize longlist for 2023. This book is a translation of his original Tamil book ‘Pukkuli’ which tells the story of an inter-caste couple who elope, setting in motion a story of terrifying foreboding. Aniruddhan Vasudevan translated this novel into the English language in 2016. Each year a novel or short story collection written in any language that is translated into English and published in the UK or Ireland gets a prize worth £50,000, which is split equally between the author and translator.

Correct Answer:  C. Power Take-off

Explanation:  DRDO has successfully conducted a flight test of the Power Take Off (PTO) Shaft on Light Combat Aircraft (LCA Tejas) Limited Series Production (LSP)-3 aircraft in Bengaluru. The PTO shaft is indigenously designed and developed by the Combat Vehicles Research & Development Establishment (CVRDE), Chennai. The PTO shaft is a critical component in the aircraft. It supports the requirements of future fighter aircraft and their variants and offers competitive costs. It was designed with a unique innovative patented ‘Frequency Spanning Technique’.

Correct Answer:  B. 65 years

Explanation:  Government removed upper age limit to receive deceased donor organs. The government has removed the upper age limit of 65 years for eligibility for registration to receive deceased donor organs. Now, a person of any age can register for receiving deceased donor organs. The government has also cancelled the domicile requirement of the state for registration of patients requiring organ transplantation from deceased donors. The government is working with the aim of “One Nation, One Policy” for organ donation and transplantation.  Government has enacted the Transplantation of Human Organs and Tissues Act 1994.