Daily GK and Current Affairs Quiz – 2nd October 2020

Correct Answer: C. Indian Bank

Explanation: Indian Bank has launched another green initiative, IB-eNote that enables a totally paperless working environment. The IB e-Note is a tool that enables processing and tracking of notes put up by various offices digitally. This green initiative is expected to improve Turnaround Time considerably, besides saving on the cost of paper, printing and other administrative expenses.

Correct Answer – B. Gujarat

Explanation: Gujarat Government has announced 25% cut in school fees for the current academic year. This decision is termed as a big relief for the parents in view of the Coronavirus pandemic. 25 per cent cut in tuition fees will be effective to all school boards including CBSE. There will be a 100 per cent fee waiver on all other activities including transportation, sports, library and computer.

Correct Answer – C. 36.16%

Explanation: The govt will borrow Rs 4,34,000 cr in the 2nd half of the current fiscal, which is 36.16% of total borrowing to meet its expenditure requirement. Earlier, the govt had announced borrowing of 7.8 lakh crore rupees in the budget. Due to COVID borrowing target was increased to 12 lakh crore rupees. Out of the total 12 lakh crore rupees, the govt has already borrowed 7.66 lakh crore rupees.

Correct Answer – C. Dhanlaxmi Bank

Explanation: RBI has appointed its General Manager D K Kashyap on the board of Dhanlaxmi Bank. D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office has been appointed as the Additional Director on the board of the bank. The appointment is for a period of two years with effect from September 28, 2020, to September 27, 2022, or till further orders, whichever is earlier.

Correct Answer – B. IDBI Bank

Explanation: Industrial Development Bank of India (IDBI) become the first to implement the new feature of document embedding facility with Letter of Credit (LC) / Bank Guarantee (BG) messages over SFMS (Structured Financial Messaging System) platform of Indian Financial Technology and Allied Services (IFTAS). The process would be conducted via a middleware application “i@Connect-SFMS (CSFMS) developed by IDBI Intech.

This new feature of “document embedding” provides banks with the functionality of transmitting a “pdf” document up to 1MB size along with the LC / BG messages. Through this feature, there will be the transmission of digitally signed documents which ensure the reliability of the transaction. The objective of this new feature is to further digitise the trade finance transactions and to secure the financial communication system.

Correct Answer – C. Kerala

Explanation: Kerala Tourism’s ‘Human by Nature Print Campaign’ bagged the Prestigious Pacific Asia Travel Association (PATA) Grand Title Winner 2020 for Marketing. The awards were announced during a presentation ceremony of Virtual PATA Travel Mart 2020 in Beijing. The PATA Awards are supported and sponsored by Macao Government Tourist Office (MGTO). ‘Human by Nature’ was a marketing strategy to revive tourism that was hit by the 2018 floods and the Nipah outbreak. Showcasing culture and daily life of the people, it was conceptualised and scripted by Stark Communications. The campaign had helped Kerala Tourism achieve record growth of 17.2% in tourism arrivals in 2019, the highest in 24 years.

Correct Answer – B. Bajaj Allianz General Insurance

Explanation: E-commerce marketplace, Flipkart and Bajaj Allianz General Insurance have launched a cyber insurance cover for online financial frauds. The product, ‘Digital Suraksha Group Insurance’, will help customers who want to cover themselves against financial losses caused as a result of cyber attacks, cyber frauds, or other such malicious activities across various online platforms.

Correct Answer – D. South Eastern Railways (SER)

Explanation: The South Eastern Railways (SER) has launched the project, “Operation my Saheli” to enhance the security of women passengers in the train throughout the entire journey from the originating point to their destinations. Since 18th September 2020, The pilot version of the project “Operation my Saheli” has been introduced in 3 trains: Howrah-Yesvantpur Duronto Special, Howrah- Ahmedabad Special and Howrah-Mumbai Special. ”Operation my Saheli” is executed under the Framework of “Nirbhaya Fund” and no additional expenditure is provided by the Head of Railways.

Correct Answer – D. Vakrangee Ltd

Explanation:  The Reserve Bank of India (RBI) has granted in-principle approval to Vakrangee Ltd to set up Bharat Bill Payment Operating Unit (BBPOU) to handle payment services related to bills. With in-principle authorisation from RBI, Vakrangee Ltd will set up and operate BBPOU under the Payment and Settlement Systems Act, 2007 and will now be able to directly handle payment and aggregation of payment services relating to bills under the scope of BBPS (Bharat Bill Payment System).

The company offers banking, insurance, money transfer services, e-commerce, e-governance and other digital services on behalf of its partner banks, insurers, government agencies, e-commerce players among others through its branches mostly located in rural and semi-urban areas.

Correct Answer – B. Karnataka

Explanation: The National Bank for Agriculture and Rural Development will begin a Sanitation Literacy Campaign (SLC) in Karnataka to promote literacy on ‘WASH’ (Water, Sanitation and Hygiene) in 2,000 villages covering one lakh rural population. The objective of the campaign is to focus on inculcating significant behavioural changes towards adapting good hygiene and sanitation practices. The campaign will start from October 2 and continue till January 26, 2021. In the past, NABARD also supported the construction of 3.29 crore household toilets disbursing 27,298 crore rupees across the country.

Correct Answer – B. 2025

Explanation: ISRO is scheduled to launch its Venus mission in 2025 and France will participate in it. The VIRAL (Venus Infrared Atmospheric Gases Linker) instrument co-developed with the Russian federal space agency Roscosmos and the LATMOS atmospheres, environments and space observations laboratory attached to the French national scientific research centre has been selected by the ISRO.

Correct Answer – C. Krishna Saksena

Explanation: Defence Minister Rajnath Singh has launched a book titled ‘A bouquet of flowers’ written by Dr Krishna Saksena. Dr Krishna Saksena is the first lady to get a PhD, in 1955 from Lucknow in Uttar Pradesh. The book has been designed to allow the readers to travel their own journey and arrive at their own very personal realization and be inspired by it.

Correct Answer – B. Critic

Explanation:  Veteran writer and critic Dr G S Amur passed away. He was proficient in Kannada and English languages. He had won many awards including Sahitya Akademi Award, Rajyotsava Award and Bharatiya Bhasha Award.

Correct Answer: B. Sunil Sethi

Explanation: The Khadi and Village Industries Commission has appointed Sunil Sethi as its Advisor. Sunil Sethi is the Chairman of the Fashion Design Council of India. He has been appointed for a period of one year. He will succeed fashion designer Ritu Beri. Sunil Sethi will advise the Commission on latest design interventions in the readymade garments segment as well as promotion of Khadi in India and abroad. Sustainable growth of Khadi in the fashion industry, both locally and internationally, is the key idea behind the appointment.