Daily GK and Current Affairs Quiz – 4th April 2023

Correct Answer:  C. Private Equity

Explanation:  The Securities and Exchange Board of India (SEBI) has allowed private equity (PE) funds to sponsor Mutual Fund schemes. The decision comes in the backdrop of IDFC Mutual Fund getting acquired by a consortium comprising Bandhan Financial Holdings Ltd, Sovereign Wealth Fund GIC, and private equity fund ChrysCapital. It has also permitted the set-up of self-sponsored asset management companies (AMCs).

Correct Answer:  B. Ron Malka

Explanation:  Adani Group appointed Ron Malka, former envoy of Israel to India, as the Executive Chairman of the Haifa Port Company (HPC). A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel’s Gadot Group won the tender in July last year to privatise the strategic Port of Haifa in Israel for USD 1.18 billion. Malka has shared the news on his Twitter handle and said that he has assumed charge as the Executive Chairman of the company.

Malka served as the ambassador of Israel to India from 2018 to 2021. The Port of Haifa is the second largest port in Israel in terms of shipping containers and the biggest in shipping tourist cruise ships. The Adani Group officially took over the Israeli port in January this year at a ceremony attended by Prime Minister Benjamin Netanyahu and other top Israeli officials. Israel expects that the Adani Group’s major entry into the country will lead to more Indian investments, especially in the fields of renewable energy and defence.

Correct Answer:  D. Sanjay Jasjit Singh

Explanation:  Vice-Admiral Sanjay Jasjit Singh assumed the position of Vice-Chief of Naval Staff (VCNS) as part of a series of high-level changes in the Indian Navy. Vice Admiral Singh graduated from the National Defence Academy in Pune and joined the Indian Navy’s executive branch in 1986. Over his 37-year career, he has served on various types of ships and held many leadership roles, including Assistant Chief of Naval Staff (CSNCO), Flag Officer Commanding of the Western Fleet, Commandant Naval War College, and Controller Personnel Services. Prior to his current position as VCNS, he was Deputy Chief of Integrated Defence Staff (Operations). In recognition of his distinguished service, he was awarded the Nao Sena Medal in 2009 and the Ati Vishisht Seva Medal in 2020.

As part of the recent high-level changes in the Indian Navy, Vice-Admiral Suraj Berry has assumed the position of Chief of Personnel (COP), while Vice-Admiral Atul Anand has taken over as Director-General Naval Operations (DGNO). Vice-Admiral Anand joined the Executive Branch of the Navy in 1988 and served as the Flag Officer Commanding of the Maharashtra and Karnataka Naval Areas before being promoted to a three-star officer and assuming the role of DGNO. Vice-Admiral Berry, who specializes in gunnery and missile warfare, was commissioned in 1987 and had previously served as Controller-Personnel Services at naval headquarters before taking up his new role as COP.

Correct Answer:  C. $578.78 billion

Explanation:  According to the Reserve Bank of India (RBI), India’s foreign exchange reserves have continued to increase for the second consecutive week, reaching USD 578.778 billion in the week ending March 24. This indicates a rise of USD 5.978 billion in the week. In the previous week, the forex reserves had gone up by USD 12.8 billion, bringing the total forex reserves to USD 572.8 billion. The increase in reserves is mainly attributed to the rise in foreign currency assets, which surged by USD 6.48 billion to USD 536.99 billion in the week ended March 24.

• It is worth noting that India’s forex reserveshit a record high of USD 645 billion in October 2021, but have since been declining due to the central bank using the reserves to defend the rupee against pressures caused by global developments.
• Gold reservesremained unchanged at USD 39.59 billion. The special drawing rights with the International Monetary Fund (IMF) declined by USD 6 million to USD 1.53 billion, while India’s reserve position with the IMF dipped by USD 47 million to USD 5.71 billion.

Correct Answer:  B. 5th

Explanation:  Recently, the research published in the journal “Scientific Data’ ranked India fifth among the top 10 contributors to global warming. The United States topped the list with its emissions causing 0.28°C (17.3%) of rise in temperature. China stood second and Russia took third place. Since 2005, India climbed to the fifth spot from the 10^th. India is responsible for 0.08 degrees Celsius of warming from the 1850s through 2021. India’s emissions of carbon dioxide (CO₂), methane (CH₄) and nitrous oxide (N₂O) from 1851-2021 have resulted in 0.04°C, 0.03°C and 0.006°C of global warming over pre-industrial levels, respectively. Ranking Of Countries as per their contribution to the Rise in temperature:

Correct Answer:  B. Paradip port

Explanation:  Paradip Port has handled a record annual traffic of 135.36 million metric tonnes against 116.13 million metric tonnes during the last financial year. Addressing a press conference in Odisha capital Bhubaneswar on Sunday, PL Haranadh, Chairman, Paradip Port Authority said that the growth in cargo handling achieved by Paradip Port is the highest among all Ports of the country. He said that while the Port has achieved highest ever coastal shipping traffic of 58.42 million metric tonnes, it has also improved its berth productivity to 31,050 MT which is the highest among all the ports of the country. Stating that Paradip Port is the cheapest in terms of tariff among all the port of the country, Mr Haranadh said that Paradip Port, with 289 million metric tonnes capacity is poised to cross 300 million metric tonnes mark in another 3 years with the commissioning of Western Dock project.

Correct Answer:  B. Rs 1.60 lakh crore

Explanation:  The Goods and Services Tax (GST) revenue collection for March 2023 has increased by 13% to Rs 1.60 lakh crore, according to data released by the Ministry of Finance. This marks the third consecutive month of increase in GST collections and is a positive sign for India’s economy, which has been grappling with the impact of the COVID-19 pandemic. The increase in GST collections can be attributed to a number of factors, including the revival of economic activity and the government’s efforts to improve tax compliance. The government has introduced a range of measures to encourage businesses to comply with GST regulations, including the introduction of a simplified tax filing system and the use of technology to streamline the tax collection process.

Correct Answer:  C. 8.7 billion

Explanation:  Unified Payments Interface (UPI) – ended the financial year (FY23) on a high, with March seeing 8.7 billion transactions being processed on the platform, the highest ever since its inception, amounting to Rs 14.05 trillion. Launched in 2016, it took the platform three years to reach the milestone of processing a billion transactions a month in October 2019. Dilip Asbe: Managing Director & CEO at National Payments Corporation Of India (NPCI).

Correct Answer:  B. Cricket

Explanation:  Salim Durani, a former Indian cricketer known for his striking looks, humor, and ability to hit powerful sixes, passed away at the age of 88. Salim Durani, who was originally from Kabul, Afghanistan, was a talented cricketer known for his explosive batting and left-arm orthodox bowling. He played in 29 Tests for India and played a significant role in India’s 2-0 victory over England in a five-match Test series in 1961-62. Durani was especially influential in India’s victories at Calcutta and Madras, where he took eight and 10 wickets, respectively. He was renowned for his ability to hit the ball out of the park and was considered an all-rounder due to his talent with both bat and ball.

Durani  played 29 Test matches for India and scored 1,202 runs at an average of 25.04, including one century and seven half-centuries. With the ball, he picked up 75 wickets and his best bowling figure was 6/73 in an inning. He also had a century and seven half-centuries in his career. With the ball, Durani picked up 75 wickets and 6/73 remained his best bowling figure in an inning. Once, when he was dropped for a test series, fans chanted slogans like “No Durrani, no Test.” The star cricketer also dabbled in Bollywood, starring opposite renowned actor Praveen Babi in the movie Charitra in 1973.

Correct Answer:  C. 7.5%

Explanation:  The Ministry of Finance has issued gazette notifications for the Mahila Samman Savings Certificates-2023 scheme. The scheme has been made available at all the post offices across the country. The 2-year tenure scheme offers a fixed interest of 7.5% interest compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of Rs. 2 lahks. The scheme was announced in the 2023-24 Budget by the Union Finance Minister to commemorate ‘Azadi Ka Amrit Mahotsav.’ The scheme is valid for two years up to 31st March 2025.

National Savings (Monthly Income Account) Scheme, 2019 has been amended through National Savings (Monthly Income Account) (Amendment) Scheme, 2023. The maximum investment limit has been raised from ₹ 4 lakh fifty thousand to ₹ 9 lakh for a single account and from ₹ 9 lakh to ₹ 15 lakh for a joint account with effect from 1st April 2023. Likewise, the Senior Citizen Savings Scheme, 2019 has been amended through Senior Citizens Savings (Amendment) Scheme, 2023 and the maximum investment limit has been raised from ₹ 15 lakh to ₹ 30 lakh.

Correct Answer:  C. Max Verstappen

Explanation:   Red Bull’s Max Verstappen has claimed his first Australian Grand Prix 2023. Seven-time world champion Lewis Hamilton, who drove superbly in his Mercedes, finished second, while Aston Martin’s Fernando Alonso filled third spot on the podium. Verstappen had appeared to be coasting to victory with an eight-second lead when debris from Kevin Magnussen’s Haas forced the second of three red flags issued in the race with three laps remaining.

Correct Answer:  B. Pune

Explanation:  Bank of Maharashtra (BoM), inaugurated its first dedicated Branch for start-ups in Pune, Maharashtra. The dedicated branch will provide all kinds of support to a startup during its growth journey. During the event Bank of Maharashtra signed an MoU with the Small Industries Development Bank of India (SIDBI) venture capital for proactive financing of start-ups. Bank of Maharashtra is an Indian public sector bank headquartered in Pune.

Correct Answer:  B. Eravikulam National Park

Explanation:  Eravikulam National Park in Munnar, Kerala, which is home to the Nilgiri tahr, now features a new attraction: a fernarium located within the park. This is the first instance of a fern collection being established in the hill station, according to officials. The fern park is located close to the orchidarium and will be accessible to the public starting from April 20th. The Eravikulam National Park is known for its diverse range of flora and fauna, and the introduction of the fernarium is a step towards educating visitors about the park’s biodiversity. Ferns belong to the Epiphytic family and are known to grow naturally in a soilless environment. These plants absorb water and nutrients by leaching them from trees. A significant number of ferns can be found growing on the trees within the park.

Correct Answer:  C. Daniil Medvedev

Explanation:  Russian tennis star Daniil Medvedev claimed his fourth title of the year by defeating Jannik Sinner in a closely-contested final match in Miami Opens 2023. Medvedev, who was once the top-ranked player in the world, has now won 24 out of his last 25 matches, including his latest victory at the prestigious Miami Open. The win marked his first-ever title win at the Miami Open. Medvedev clinched his fifth Masters 1000 title and 19th title overall by beating Sinner, who has also been in impressive form this season, with a scoreline of 7-5, 6-3. Interestingly, Medvedev has won each of his 19 titles in different tournaments. This was also his first Masters 1000 title since winning in Toronto back in 2021.

By winning the Miami Open, Daniil Medvedev has also increased his advantage over Novak Djokovic in the ATP year-end rankings (Race to Turin) by 600 points. On the other hand, Jannik Sinner’s performance in reaching the final has allowed him to climb to his career-best ranking of No. 9 in the men’s singles chart.