Daily GK and Current Affairs Quiz – 31st March 2023

Correct Answer:  C. 1.1%, Rs.2000

Explanation:  National Payments Corporation of India notified that an interchange fee of up to 1.1% will be applicable on merchant UPI (Unified Payments Interface) transactions done using prepaid payment instruments (PPIs)–wallets or cards–with effect from April 1. Charge will be levied on UPI payments of over Rs.2,000 made to online merchants, large merchants and small offline merchants. In the card payment industry, interchange fee is the charge that merchants pay to issuer banks for every credit and debit card transaction. The fee covers costs related to authentication, verification and processing systems at different levels of debit and credit cards transactions.

Correct Answer:  B. Larry Summers and NK Singh

Explanation:  Under the aegis of India’s G20 Presidency, a 11-member expert group has been set up to suggest measures to strengthen multilateral development banks (MDBs). The G20 expert group on strengthening multilateral development banks (MDBs), such as the World Bank, has been constituted and given until June 30 to submit its report. The group, co-chaired by former US Secretary of Treasury Larry Summers and India’s NK Singh, chairman of the 15th Finance Commission, will have seven other members. The decision to set up the expert group was taken last month in the meeting of finance ministers and central bank governors in Bengaluru.

Correct Answer:  B. Ajay Singh

Explanation:  Boxing Federation of India (BFI) president Ajay Singh was elected as the International Boxing Association (IBA) vice-president following the body’s board of directors meeting in New Delhi. The Indian boxing official, who also serves as Spicejet’s managing director, will be serving as the third vice president of the board. The International Boxing Association (IBA) is a non-profit international organization that succeeded the former Fédération Internationale de Boxe Amateur in 1946. IBA is the sole worldwide governing body for the sport of boxing in all its forms, with more than 200 Member Federations. IBA: Headquarters:Lausanne, Switzerland; President:Umar Nazarovich Kremlev.

Correct Answer:  C. Krishna Prakash

Explanation:  As part of the ‘Drowning Prevention Awareness’ campaign, Indian Police Service (IPS) officer Krishna Prakash swam from Gateway of India to Elephanta Caves, Mumbai. He completed the expedition of 16.20 kms in just 5 hours 26 minutes and became the first person in history to do so. This is far from the first time the IPS officer broker broke records in sporting competitions. In 2017, he completed the Ironman Triathlon, one of the most challenging sports events in the world. This is a three-day event that requires the participants to complete a 3.8-kilometre swim, a 180.2-kilometer bicycle ride, and a 42.2 km run in 16–17 hours. This achievement earned Prakash the ‘Iron Man’ title and a mention in the World Book of Records. He was the first Indian Government Servant, Civil Servant, and Uniformed Services Officer, including Armed Forces and Paramilitary Forces, to earn this title!

Correct Answer:  C. Dr Praveer Sinha

Explanation:  Tata Power has re-appointed Dr Praveer Sinha as the company’s Chief Executive Officer (CEO) and Managing Director. His re-appointment to the top post is for a period of four years from May 1, 2023, to April 30, 2027, subject to the approval of members of the company, Tata Power said in a regulatory filing. His present tenure as CEO and MD is scheduled to conclude on April 30, 2023. Under his leadership, Tata Power is at the forefront of transforming itself from a century-old power utility company into a new-age sustainable, technology-oriented and customer-centric green energy solutions company. A PhD from the Indian Institute of Technology, Delhi, Sinha is a visiting Research Associate at the Massachusetts Institute of Technology (MIT), Boston, USA.

Correct Answer:  A. UK

Explanation:  Britain has signed a deal to join a trade deal with 11 Asia and Pacific countries on 31 March 2023, three years after officially leaving the European Union. According to the government’s own estimates, joining the bloc would increase the size of the UK economy by only 0.08 per cent. The trade area covers a market of around 500 million people. The UK said it is the country’s biggest post-Brexit trade deal and is the first European country to join the CPTPP since it came into force in 2018. The agreement is expected to be formally signed by the end of this year following approval by Parliament and 11 member states. The deal would cut tariffs on exports of food, drink and cars, and provide access to a market of some 500 million people. The UK will be worth 15% of global GDP once it joins the trade bloc.

 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) 

• It was established in 2018.
• It includes 11 countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
• Membership of the CPTPP lowers restrictions on trade between members and also lowers customs duties on goods.

Correct Answer:  A. Aravindh Chithambaram

Explanation:  Aravindh Chithambaram won the Delhi International Open chess title on 30 March 2023. Georgia’s Luka Paichadze took the second spot with nine points. Aravindh Chithambaram Veerappan is an Indian chess grandmaster. He won the Indian chess championships twice, in 2018 and 2019. He earned his international master title in 2014 and his grandmaster title in 2015.

Correct Answer:  B. 31st March

Explanation:  The International Day of Drug Checking is an annual event that has been observed since 2017 on March 31st. The purpose of the day is to educate people about drugs and their effects and to promote harm reduction initiatives to reduce the risks associated with drug use. The main objective is to raise public awareness about the availability of drug checking services and organizations worldwide. The day emphasizes the importance of harm reduction actions related to drugs and aims to decrease drug-related risks.

According to the World Health Organization (WHO), drug abuse was linked to approximately 11.8 million deaths in 2017. Recently, more and more adolescents are becoming victims of substance abuse. The International Day of Drug Checking is an effort to collectively reduce drug abuse and create a drug-free world.

Correct Answer:  D. Sheikh Khaled bin Mohammed bin Zayed Al Nahyan

Explanation:  Sheikh Mohammed bin Zayed Al Nahyan, the president of the UAE and the ruler of Abu Dhabi, has announced his eldest son Sheikh Khaled bin Mohammed bin Zayed Al Nahyan as the crown prince of Abu Dhabi. Sheikh Mansour bin Zayed Al Nahyan has been appointed as the country’s new vice president. Sheikh Tahnoon bin Zayed and Sheikh Hasbin Zayed, were announced as deputy rulers of Abu Dhabi.

Correct Answer:  B. Hero Motocorp

Explanation:  The Board of Hero MotoCorp announced the appointment of Niranjan Gupta as the new Cheif Executive Officer (CEO) of the company, effective from May 1. Gupta, who currently serves as the CFO and Head of Strategy and M&A, will be elevated to the new role. Meanwhile, Pawan Munjal will remain the Executive Chairman and Whole-time Director on the Board. Niranjan Gupta has been instrumental in ensuring the financial stability of Hero MotoCorp amidst a highly competitive and ever-changing business landscape. His efforts have also helped the company form crucial partnerships with global brands like Harley Davidson and Zero Motorcycles. Gupta brings over 25 years of leadership experience in various sectors such as consumer goods, metals and mining, and automobiles, with expertise in finance, M&A, supply chain, and strategy. Apart from his role in Hero MotoCorp, he also serves as a board member for Ather Energy, HMC MM Auto Private Limited, and HMCL Colombia. Prior to joining Hero MotoCorp, Gupta spent 20 years at Unilever in various global roles and three years at Vedanta Limited.

Correct Answer:  C. $100 million

Explanation:  The World Bank has approved a $100 million loan to help Odisha strengthen its early forecasting systems for improved response to disasters and enhance its social protection coverage for poor and vulnerable households amid its technical assessment that the rate of poverty among the tribals in Odisha, 63%, is the highest in the country. According to an assessment by the World Bank, Odisha’s human development indicators remain among the worst in India. Tackling poverty among tribals has been much slower than the statewide average, as evidenced by a poverty rate of 63% among tribal populations compared to 33% for the state overall.

Correct Answer:  D. Sheikh Mujibur Rahman

Explanation:  The Foundation of SAARC Writers and Literature (FOSWAL) presented a unique literary award to Bangabandhu Sheikh Mujibur Rahman of Bangladesh for his trilogy of books, which includes The Unfinished Memoirs, The Prison Diaries, and the New China 1952. FOSWAL acknowledged Bangabandhu Sheikh Mujibur Rahman’s exceptional literary skills and awarded him for his outstanding literary excellence in the trilogy, according to the citation provided by the organization.

During the ceremony, Ramendu Majumdar and Mofidul Haque, Bangladeshi writers and researchers, received the award from Ajit Kaur, a prominent Punjabi novelist and the founder president of FOSWAL. In a citation issued by the Foundation of SAARC Writers and Literature, Bangabandhu Sheikh Mujibur Rahman is compared to Mahatma Gandhi and Martin Luther King, and it is stated that no force on the planet can erase him from history.

Correct Answer:  C. T S Sivagnanam

Explanation:  Justice T.S. Sivagnanam was appointed as the Acting Chief Justice of the Calcutta High Court with effect from 31 March. He will take over as the Acting Chief Justice after the retirement of the current Chief Justice Prakash Srivastava. Justice Sivagnanam is a senior judge in the Indian Judiciary, born on June 10, 1961 in Tamil Nadu. He specialised in Constitutional Law, Commercial Law, Civil Law and Criminal Law. He served as a permanent judge in the Madras High Court for over a decade before being transferred to the Calcutta High Court in 2018.

Correct Answer:  D. 31st March

Explanation:  Transgender Day of Visibility is an annual holiday observed on March 31st to celebrate the accomplishments and contributions of transgender people, as well as to raise awareness of the discrimination and violence faced by the transgender community worldwide. Transgender Day of Visibility is an important opportunity to celebrate the diversity of gender identities and expressions and to promote understanding and acceptance of the transgender community.

The day was first observed in 2009 and was created by transgender activist Rachel Crandall as a way to recognize and celebrate the achievements of transgender people. Unlike Transgender Day of Remembrance, which is observed on November 20th and honors the memory of those who have lost their lives to anti-transgender violence, Transgender Day of Visibility focuses on the living members of the transgender community and their contributions to society.