Daily GK and Current Affairs Quiz – 18th June 2021

Correct Answer: A. Policybazaar

Explanation: Policybazaar has got approval from regulator IRDAI to undertake insurance broking, a development that will help the company augment business and expand its bouquet of services. With this development, the company will surrender its web aggregator licence to the Insurance Regulatory and Development Authority of India (IRDAI) and undertake business including insurance aggregation under the broking umbrella. The broking licence will allow the company to venture into segments which it could not do in the past like claims assistance, offline services, and establish Points of Presence network. Policybazaar has a market share of 25 per cent in the life insurance segment while 10 per cent in health insurance.

Important Points:

• Policybazaar CEO: Yashish Dahiya;
• Policybazaar Founded: June 2008;
• Policybazaar HQ: Gurugram, Haryana.

Correct Answer – A. Project O2 for India

Explanation: The government of India has launched ‘Project O2 for India’ to step up production of medical oxygen to meet the potential increase in demand due to further waves of the pandemic. ‘Project O2 for India’, an initiative of the Office of Principal Scientific Adviser, Government of India (GoI), aims to help stakeholders working to augment the country’s ability to meet the rise in demand for medical oxygen.Under the project, a ‘National Consortium of Oxygen’ is enabling the supply of critical raw materials such as zeolites, setting up of small oxygen plants, manufacturing compressors, final products such as oxygen plants, concentrators, and ventilators. Besides, the consortium is also working to strengthen the manufacturing ecosystem for long-term preparedness.

Correct Answer – D. ICICI Bank

Explanation: ICICI Bank has announced the launch of ‘ICICI STACK for Corporates’, a comprehensive set of digital banking solutions for corporates and their entire ecosystem including promoters, group companies, employees, dealers, vendors and all other stakeholders. The wide range of 360-degree solutions enables corporates to seamlessly meet all banking requirements of their ecosystem in an expeditious and frictionless manner.With this launch, ICICI Bank aims to be the preferred banking partner for companies and their entire ecosystem. The environment in which corporate customers operate is becoming increasingly dynamic and competitive with accelerated digital adoption transforming every business. In this ever-changing environment, a banking partner, which can serve not only the corporates but also the entire ecosystems where they operate, adds significant value to corporate customers.

The four main pillars of the ‘ICICI STACK for Corporates’ are:

• Digital banking solutions for companies;
• Digital banking services for channel partners, dealers and vendors;
• Digital banking services for employees;
• Curated services for promoters, directors and signatories.

Important Points:

• ICICI Bank Headquarters: Mumbai, Maharashtra.
• ICICI Bank MD & CEO: Sandeep Bakhshi.
• ICICI Bank Tagline: Hum Hai Na, Khayal Apka.

Correct Answer – A. Telangana

Explanation: Telangana government has launched the Telangana AI Mission (T-AIM) powered by Nasscom and as part of the T-AIM, an accelerator programme called “Revv Up” has been launched to enable and empower AI startups. The programme that will begin its first cohort in July is another step towards making Telangana and Hyderabad a global destination for AI and other emerging technologies.

About the programme:

The accelerator programme, exclusively designed for growth-stage AI startups, will cover various sectors.Telangana Industries and IT principal secretary Jayesh Ranjan stated, “Telangana is committed to its vision of positioning the State as the leader in AI.After becoming the first state in India to launch an actionable policy framework for Artificial Intelligence in June 2020, now set in motion the first edition of the Revv Up accelerator programme to hone innovative AI ideas under T-AIM.

Important Points:

• Telangana Capital: Hyderabad;
• Telangana Governor: Tamilisai Soundararajan;
• Telangana Chief minister: K. Chandrashekar Rao.

Correct Answer – D. All of the above

Explanation: Stockholm International Peace Research Institute(SIPRI) has released the SIPRI Yearbook 2021. The report assesses the current state of armaments, disarmament and international security. China is in the middle of significant modernisation and expansion of its nuclear weapon inventory, and India and Pakistan also appear to be expanding their nuclear arsenals.

What are the key findings of the SIPRI Yearbook 2021?

According to the yearbook, India possessed an estimated 156 nuclear warheads at the start of 2021 compared to 150 at the start of last year, while Pakistan had 165 warheads, up from 160 in 2020.China’s nuclear arsenal consisted of 350 warheads up from 320 at the start of 2020.The nine nuclear-armed states – the U.S., Russia, the U.K., France, China, India, Pakistan, Israel and North Korea – together possessed an estimated 13,080 nuclear weapons at the start of 2021.Russia and the U.S. together possessed over 90% of global nuclear weapons and have extensive and expensive modernisation programmes underway.

Important Points: 

• Sipri Headquarters: Oslo, Norway.
• Sipri Founded: 6 May 1966.
• Sipri Director: Dan Smith.

Correct Answer – C. 43rd

Explanation: India maintained 43rd rank in the annual World Competitiveness Index 2021.The report was compiled by the Institute for Management Development (IMD).Top three nation in the 64-nation list are: 1. Switzerland; 2. Sweden; 3. Denmark.BRICS Nations rank order is China, India, Russia, Brazil and South Africa.India has maintained its position for the past three years.

Correct Answer – D. Aashish Chandorkar

Explanation: The govt has appointed Aashish Chandorkar as Counsellor in India”s Permanent Mission in the WTO.For the first time, a private person has been appointed at the Mission.Chandorkar is director of Bengaluru-based policy think tank Smahi Foundation of Policy and Research.The WTO is a 164-member multi-lateral body, which deals with global trade.

Correct Answer – C. Montek Singh Ahluwalia

Explanation: Montek Singh Ahluwalia was named as a member of a High-Level Advisory Group formed by the World Bank and IMF.He was former Deputy Chairman of the Planning Commission and distinguished fellow at the Centre for Social and Economic Progress (CSEP).The group will be jointly led by Mari Pangestu, Managing Director for Development Policy and Partnerships, World Bank; Ceyla Pazarbasioglu, Director, Strategy, Policy and Review Department, International Monetary Fund; and Lord Nicholas Stern of the London School of Economics.The group will also include Gita Gopinath, Economic Counsellor and Director of the Research Department at the IMF, among others.

Correct Answer – D. England

Explanation: British lawyer Karim Khan was sworn in as the new chief prosecutor for the International Criminal Court.He has years of experience in international lawyer as a prosecutor, investigator and defense attorney.He takes over from Fatou Bensouda of Gambia.Most recently, Khan led a United Nations team investigating atrocities in Iraq.

Correct Answer – D. 18th June

Explanation: Every year, Autistic Pride Day is observed on June 18 globally to create awareness about autism among people and recognise the importance of pride for autistic people and its role in bringing about positive changes in the broader society.The day is represented by a rainbow infinity symbol which denotes the infinite possibilities that autistic people have.Autistic Pride Day was first celebrated in Brazil in 2005, at the initiative of an organisation named Aspies for Freedom.

Correct Answer – C. Maheshtala Waste Water Management Private Limited

Explanation:A tripartite concession agreement between National Mission for Clean Ganga (NMCG), Kolkata Metropolitan Development Authority (KMDA), and Maheshtala Waste Water Management Private Limited was signed on 17 June 2021.It has been signed for the development of a 35 MLD sewage treatment plant for Maheshtala.The contract was awarded at the total cost of Rs 273.52 cr.

Correct Answer – C. 135

Explanation: 135 Indian and 103 Sri Lankan peacekeepers serving with the United Nations Mission in South Sudan (UNMISS) received medals of recognition from the UN Force Commander in Bor, South Sudan in June 2021.Indian peacekeepers are mainly stationed in Bor, Pibor, and at a temporary operating base in Akobo in South Sudan.Medal winners from Sri Lanka are from the Blue Berets aviation unit.

Correct Answer – B. Rubina Francis

Explanation:- Madhya Pradesh shooter, Rubina Francis won the gold in the 10-metre air pistol para women event at the World shooting Para Sport Cup in Peru on 16 June 2021.Rubina scored 238.1 points and beat the world record of Aysegul Pehlivanlar of Turkey in 10m air pistol shooting.She has also secured the Paralympic quota for India at Tokyo Olympic 2020.

Correct Answer: C. 112

Explanation: The Central Board of Indirect Taxes and Customs (CBIC) has reduced tariff value for the import of edible oil by up to $112 (around ₹8,300) per tonne.It cut the tariff import value of crude palm oil by $86 (around ₹6,400) per tonne and of crude palmolein by $112 (around ₹8,300) per tonne.It also reduced crude soyabean oil’s base import price by $37 (around ₹2,750) per tonne.