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Current Affairs Quiz – 23rd May 2023
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1. Which of the following company has recently launched a new mobile trading platform “FLIP” to provide traders and investors with a flexible and all-encompassing trading experience?
Correct Answer: B. Geojit Financial Services Limited
Explanation: Leading broking firm Geojit Financial Services Limited has introduced FLIP, its newest mobile trading platform in an aim to replace the current platform SELFIE and provide traders and investors a flexible and all-encompassing trading experience supported by a number of cutting-edge features.
One Cancel Other Order, Bracket Orders, Basket Orders, Option Chain, Option Greeks, Single Click Multi-Leg Orders, and Exit All Positions in Just One Click are just a few of the broad order features that FLIP offers.
Additionally, it has a dashboard that lists transactions and investments, Portfolio Insights, Technical and Fundamental Research, Stock Analysis Page, and Advanced Charting (TradingView).
FLIP users will benefit from additional features set to be introduced over the next 3 months, including Split Order for Options, Roll Over for Futures, and Conditional Orders, Trading from Charts, Events Calendar, Market Overview, and Apply for IPO.
2. State Bank of India (SBI) reported an _____ year-on-year (yoy) jump in net profit at ₹16,694.51 crore for the fourth quarter of 2022-23 fiscal on higher interest income and low provisioning.
Explanation: The State Bank of India (SBI), the country’s largest public-sector lender, has reported impressive financial results for the fourth quarter ended March 31, 2023. The bank’s net profit witnessed a significant surge of 83 percent, reaching a record high of Rs 16,694 crore. SBI recorded a remarkable 83 percent year-on-year (YoY) increase in net profit, surpassing market estimates. The bank’s net profit rose from Rs 9,113 crore in the corresponding quarter of the previous financial year to Rs 16,694 crore. Additionally, for the entire financial year 2022-23, SBI achieved a profit of Rs 50,232 crore, a substantial rise from Rs 31,675 crore in 2021-22. This marks SBI’s highest-ever quarterly and yearly profit. SBI’s deposits experienced a healthy YoY growth of 9.19 percent. Notably, current account and savings account (CASA) deposits grew by 4.95 percent YoY. As of March 31, 2023, the CASA ratio stood at 43.80 percent.
3. Which country has recently announced 2.7 billion euros ($3.0 billion) of military aid to Ukraine?
Explanation: Germany announced 2.7 billion euro ($3.0 billion) of military aid to Ukraine, its biggest such package yet since Russia’s invasion, and pledged further support for Kyiv for as long as necessary. The package will include 30 Leopard 1 tank, 15 Gepard anti-aircraft tanks, over 200 reconnaissance drones and 4 Iris-T anti-aircraft systems. Germany was initially reluctant to provide heavy arms to Ukraine to help it counter Russia’s invasion, fearing it might escalate the fight. But in January, 2023 Berlin agreed to send Leopard tanks and would work with allies to send more.
4. During the visit to Japan, PM Narendra Modi unveiled the bust of Mahatma Gandhi in which city of Japan?
Explanation: The honourable Prime Minister of India, Shri Narendra Modi, was present at the unveiling ceremony of the bust of Mahatma Gandhi in Hiroshima, Japan. Other esteemed guests in attendance included H.E Mr. Nakatani Gen, Special Advisor to the Prime Minister and Member of Parliament; Mr. Kazumi Matsui, Mayor of Hiroshima City; Mr. Tatsunori Motani, Speaker of the Hiroshima City Assembly; Members of Parliament from Hiroshima and senior government officials; members of the Indian community; and followers of Mahatma Gandhi in Japan.
The Mahatma Gandhi bust serves as a gift from the Government of India to the city of Hiroshima, signifying a meaningful and significant symbol of friendship and goodwill between India and Japan.
The presentation of the bust took place during the Prime Minister’s visit to the G-7 summit from the 19th to the 21st of May 2023.
Created by the renowned Padma Bhushan awardee Shri Ram Vanji Sutar, the triumphant statue stands tall at 42 inches, crafted from durable bronze material.
It has been positioned beside the Motoyasu River, which is situated near the iconic A-Bomb Dome. The A-Bomb Dome is a well-known site that attracts thousands of people daily, including tourists and locals alike.
The selected location for the Mahatma Gandhi bust was specifically chosen to symbolize solidarity concerning peace and non-violence.
5. Name the first Arab woman astronaut to travel to the International Space Station (ISS) as part of the private Ax-2 mission.
Explanation: In a groundbreaking moment for Saudi Arabia, the country’s first astronauts in decades have embarked on a journey to the International Space Station (ISS). Sponsored by the Saudi Arabian government, a female stem cell researcher named Rayyanah Barnawi and a Royal Saudi Air Force fighter pilot named Ali al-Qarni joined a crew led by a retired NASA astronaut from Kennedy Space Center. The mission was organized by Axiom Space, a Houston-based company, and executed by SpaceX. This article explores this historic event, highlighting the significance of the mission and its participants.
6. Who among the following has won the Men’s singles title at the Italian Open 2023?
Explanation: The world’s number three tennis player, Daniil Medvedev (from Russia) has clinched his maiden Italian Open 2023 title, after beating Holger Rune (Denmark). It is Medvedev’s fifth title of 2023 and victory lifts him above Novak Djokovic to second in the world rankings.
Overall he captured 20 career titles. He will also be the second seed at the French Open, which starts at Roland Garros on 28th of this month.
The men’s doubles title has been captured by Hugo Nys and Jan Zielinski in Rome. The Monegasque-Polish duo defeated Robin Haase and Botic van de Zandschulp 7-5, 6-1 in the men’s doubles final to won their maiden ATP Masters 1000 title.
Australian-Belgian pair of Storm Hunter and Elise Mertens have become the women’s doubles champions after defeating top-seeded Americans Coco Gauff and Jessica Pegula 6-4 6-4 .
Earlier, Kazakhstan’s Elena Rybakina clinched her fourth WTA title with victory in the women’s singles final as Ukraine’s Anhelina Kalinina retired with a injury when Rybakina was leading 6-4, 1-0.
7. The Monpa Handmade Paper of which state has been revived by Khadi and Village Industries Commission (KVIC)?
Explanation: The Khadi and Village Industries Commission (KVIC) played an important role in conserving and reviving the Handmade Paper-making art of Tawang, Arunachal Pradesh. The Monpa Handmade Paper of Arunachal Pradesh has been revived with the committed efforts of the Khadi and Village Industries Commission (KVIC). The art of making Monpa handmade paper started around 1000 years ago. It gradually becomes an integral part of local customs and culture in Tawang in Arunachal Pradesh. This handmade paper was the source of living for the local people of Tawang. This handmade paper was almost disappeared in the last 100 years.
KVIC implemented its revival plan and this paper has become functional since 2020.
KVIC Chairman Mr Manoj Kumar said that there is good demand for traditional handmade Monpa papers in the international markets.
KVIC revival plan helped Monpa handmade paper to get recognition in the international market. It will also help in generating more employment.
KVIC is also executing other activities for the growth of various village industries like pottery, chemical-based polymer, bee-keeping, etc.
8. India’s First Commercial Flight Powered By Indigenous Sustainable Aviation Fuel Flies from Pune To Delhi. It was operated by ______
Explanation: India’s first commercial passenger flight using indigenously produced Sustainable Aviation Fuel (SAF) blend was successfully flown. An Air Asia flight powered by SAF blended aviation turbine fuel (ATF) flew from Pune to Delhi. The special flight was received by Union Petroleum Minister Hardeep Singh Puri at the airport. The SAF blended aviation turbine fuel (ATF) was produced by Praj Industries Ltd by using indigenous feedstock, supplied by Indian Oil Corporation Ltd (IOCL) and used by Air Asia.This would be the First domestic commercial passenger flight with SAF blending up to 1 per cent as demonstration mode”.“By 2025, if we target to blend 1 per cent SAF blending in Jet fuel, India would require around 14 crore litre of SAF/annum. More ambitiously, if we target for 5 per cent SAF blend, India required around 70 crore litre of SAF/ annum”.
Explanation: During the last nine years, India’s total coal production has increased by 47 percent to 893.08 million tonnes (MT) and supply has reached 877.74 million tonnes, registering a growth of 45.37 percent. In FY2023, the country has made a huge jump in the history of coal production with 893.08 MT. As per the action plan for 2023-24 of the Ministry of Coal, there is a target of 1012 million tonnes of coal production in the financial year 2023-24 by increasing overall production, efficiency, stability and adoption of new technologies. During the financial year 2022-23, the Ministry of Coal has signed agreements for a total of 23 coal mines with a cumulative peak rated capacity (PRC) of 33.224 MT per annum. It is expected that 25 coal blocks will be allotted for commercial mining during the financial year 2023-24.
Mission ‘Coking Coal’
Mission ‘Coking Coal’ has been launched by the government in August 2021 with a roadmap that will suggest ways to increase production and utilization of domestic coking coal in India by 2030.
In this mission, mainly recommendations related to new exploration, increasing production, increasing washing capacity, auction of new coking coal mines have been made.
Objective of Mission ‘Coking Coal’
To increase coking coal production from 52 million tonnes (MT) in FY2022 to 140 MT in FY2030.
To increase coking coal washing capacity from 23 MT in FY2022 to 61 MT in FY2023.
Use of Coking Coal
It is mainly used in the manufacture of steel through the blast furnace route.
Domestic coking coal generates very high ash content (mostly between 18%-49%) which is not suitable for direct use in blast furnaces.
To reduce the ash percentage, the coking coal is washed and Indian prime and medium coking coal (<18% ash) is blended with imported coking coal (<9% ash) before use in the blast furnace.
10. International Day to End Obstetric Fistula 2023 observed on-
Explanation: On May 23, is the International Day to End Obstetric Fistula, Obstetric fistula is a hole in the birth canal that can develop when a woman experiences prolonged, obstructed labor without medical intervention. It is a devastating childbirth injury that can cause lifelong physical and social problems for women. The International Day to End Obstetric Fistula aims to raise awareness about this preventable and treatable condition and to mobilize support for affected women. The day provides an opportunity to advocate for increased investment in maternal healthcare, access to quality obstetric care, and the eradication of obstetric fistula.
11. India is the_____ largest fish-producing country with about 8% share in global fish production.
Explanation: From a mere 7.5 lakh tons in 1950-51, India’s total fish production has reached a record 162.48 lakh tons per annum in 2021-22, with a 10.34% growth in fish production in 2021-22 in comparison to 2020-21. Today, India is the 3rd largest fish producing country with about 8% share in global fish production. It stands 2nd in aquaculture production. The growth of inland fish production, predominantly propelled by aquaculture, has been even more spectacular. From mere 28.23 lakh tons per annum in 2000-01, the inland fish production stood at 121. 21 lakh tons per annum in 2021-22, a staggering 400 percent increase. In fact, the inland fisheries and aquaculture production of the country has almost doubled since 2014.
12. Global private equity giant Blackstone, announced the acquisition of the International Gemological Institute (IGI) at an enterprise value of over _________.
Explanation: International Gemological Institute (IGI), the world’s largest certification player for lab grown diamonds and the second largest certification player for natural diamonds, has been fully acquired by global private equity firm Blackstone. The $525 million (Rs 4,352.54 crore) deal sees Blackstone taking over the 80% stake held by China-based investment firm Fosun, as well as the 20% stake held by Roland Lorie, a member of the founding family.
IGI has pioneered the certification of lab-grown diamonds, as well as that of natural diamonds and colored stones, providing confidence to manufacturers, retailers, and consumers globally.
The deal will enable Blackstone to bring its operational expertise and technological capabilities to IGI’s global footprint of 29 laboratories and 18 schools of gemology across 10 countries.
Industry estimates suggest that the global lab grown diamonds retail market is currently valued at $7 billion, and has experienced a Compound Annual Growth Rate (CAGR) of 15% between CY19-22.
Comparatively, global natural diamond jewellery retail sales stand at around $80 billion, with a CAGR of 3%. It is notable that 90% of rough diamonds are polished in India.
However, since June 2020 and the start of a geopolitical standoff with China which resulted in Chinese firms withdrawing their investments in India, Fosun has been divesting its portfolio in the country.
This latest move represents one of the final investments from Fosun’s decade-long portfolio, following the sale of stakes in companies like Ixigo, Kissht, and Delhivery. Fosun is also currently seeking exits from Trell, Gland Pharma, and other investments.
13. Prime Minister Narendra Modi was conferred the Companion of the Order by ____and _____.
Explanation: Prime Minister Narendra Modi received the highest honours of Papua New Guinea and Fiji, an unprecedented acknowledgement of a non-resident in the two Pacific island nations. During his maiden visit to Papua New Guinea, Modi hosted a significant summit between India and 14 Pacific island countries to bolster bilateral ties. Governor-General of Papua New Guinea, Sir Bob Dadae, awarded Modi with the Grand Companion of the Order of Logohu (GCL), which is the country’s highest civilian award.
This rare award is limited to a select group of “Chief” titleholders, which includes former US President Bill Clinton.
Papua New Guinea granted this award to Modi for his outstanding contribution towards promoting the unity of Pacific Island nations and spearheading the cause of the Global South.
In receiving the accolade, Modi gave credit to the people of India and the generations of the Fiji-Indian community for playing a crucial role in cementing a special and enduring bond between the two countries.
Throughout his tenure, Modi has received various international awards from many countries, including Russia, Saudi Arabia, Afghanistan, the United Arab Emirates, and the Maldives.
14. Recently, Which of the following state has started Tree Ambulance Service?
Explanation: To protect Udaipur’s biodiversity ‘Tree Ambulance service has turned into a mission as more than five thousand trees have been planted and getting care of with the help of the vehicle. The ‘Tree Ambulance’ service in Udaipur is a mission dedicated to protecting the city’s biodiversity by planting and caring for over five thousand trees. The initiative was started by Namokar Seva Sanstha, and over the past five years, it has grown from 35 members to a family of 750 members.
The ‘Tree Ambulance’ is a customized vehicle equipped with insecticides, water tanks, and drilling machines to provide necessary care and protection for dying trees. A crew of six people operates the ‘Tree Ambulance’ and responds to information about plants in need of treatment or rescue. The organization follows a schedule where five days are dedicated to plantation activities, and two days are reserved for the maintenance and care of the trees.
15. The Board of Control for Cricket in India (BCCI) announced its partnership with _______to be Indian cricket team’s new kit sponsor.
Explanation: The Board of Control for Cricket in India (BCCI) announced that Adidas will be the new kit sponsor of the Indian team. Adidas will replace Kewal Kiran Clothing Ltd, maker of Killer Jeans, which came in as interim sponsor after the then-sponsor Mobile Premier League Sports (MPL Sports) pulled out of the deal midway. Adidas is a German multinational corporation that designs and manufactures athletic shoes, apparel, and equipment. The company is headquartered in Herzogenaurach, Germany, and is the largest sportswear manufacturer in the world. Adidas has been involved in cricket for many years, and is the current kit sponsor for the England and Wales Cricket Board (ECB) and the Australian Cricketers’ Association (ACA).
The deal is reportedly worth ₹350 crore.
The deal will run for a period of 8 years.
Adidas will design and manufacture the team’s kits for all formats of the game.
The first time Team India will wear the Adidas kit will be in the upcoming World Test Championship Final against Australia.
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