Daily GK and Current Affairs Quiz – 5th January 2021

Correct Answer: D. USD 231 million

Explanation: The Asian Development Bank (ADB) has signed a $231 million loan with the Government of India to augment electricity generation capacity in the state of Assam. This is the third tranche loan for the ‘Assam Power Sector Investment Programme’ that was approved by the ADB Board in July 2014. Under the project, 120 megawatts (MW) hydroelectric power plant would be constructed. The programme focuses on enhancing the capacity and efficiency of the energy generation and distribution systems in Assam to improve the availability of electricity service to end-users. The programme, including its two previous tranches, focuses on enhancing capacity and efficiency of the energy generation and distribution systems in Assam to improve electricity service to end-users.

Correct Answer – A. Umesh Sinha

Explanation: Umesh Sinha has been named as the deputy election commissioner in the Election Commission of India. Sinha, a 1986-batch IAS officer (retired) is at present serving as secretary-general in the commission. The Appointments Committee of the Cabinet cleared the extension in the term of reemployment of Sinha as deputy election commissioner on contract basis for a period of six months beyond December 31, 2020. His term will end on June 30, 2021. At present Sinha is also part of a committee set up by the Election Commission to look into the issue of revising the election expenditure of candidates during campaigning.

Correct Answer – D. Alfredo Covelli

Explanation: Alfredo Covelli, an Italy based author has launched his new book Vahana Masterclass for children and Young Audience. The books will be illustrated and published by Scholastic India. Alfredo had a keen interest in our Indian culture and mythology which inspired him to write a story on Lord Ganesh for children.

Correct Answer – B. Bajaj Auto

Explanation:  Bajaj Auto has become the first two-wheeler company across the globe to cross a market capitalisation of ₹1-lakh crore (around $13.6 billion). Bajaj Auto is the world’s third-largest manufacturer of motorcycles and the largest manufacturer of three-wheelers. The company has its manufacturing facilities at Chakan near Pune, Waluj (Aurangabad) and Pantnagar (Uttrakhand).

Correct Answer – D. Bharti AXA General Insurance Company

Explanation: Insurance Regulatory and Development Authority (IRDAI) has imposed a total penalty of ₹15 lakh on Bharti AXA General Insurance Company. It has been fined in two different cases for violation of various provisions concerning motor insurance. IRDAI imposed a penalty of ₹10 lakh on it for non-compliance with minimum obligations under regulations concerning third-party motor insurance business.

Correct Answer – B. SEBI

Explanation: SEBI has extended the date for implementation of framework for uniformity in the applicability of net asset value (NAV) across various schemes on the realisation of funds to February 1, 2021. The change in NAV calculation rule was supposed to be implemented from January 1, 2021. Currently, for investment below ₹2 lakh, allotment of units is based on time of receipt of the application within the cut-off time. SEBI is the regulator of the securities and commodity market in India owned by the Government of India.

Correct Answer – C. Northern Arc Capital Limited

Explanation: The Asian Development Bank has signed a USD 40 million loan to Northern Arc Capital Limited (NACL) to support the livelihoods of microfinance borrowers and MSMEs in India. The loan is disbursed to NACL as part of ADB’s ongoing COVID-19 response. NACL will on-lend the loan proceeds and provide guarantees to financial institutions and individual borrowers. NACL will also on-lend to affordable housing finance companies.

Correct Answer – B. Shakti Sinha

Explanation: Shakti Sinha has authored the book titled “Vajpayee: The Years that Changed India”. The new book on former PM was released on his 96th birth anniversary. Shakti Sinha has worked with Vajpayee as the secretary to the leader of the Opposition (1996-97) and as his private secretary (1998-99). The book published by Penguin Random House India narrates the political philosophy of Vajpayee and provides the insights of his thoughts and how he worked. The book of 10 chapters portrays the struggles and difficulties faced by him during his term as PM of India.

Correct Answer – B. Mumbai

Explanation:  Indian Renewable Energy Development Agency (IREDA) has opened its third branch office in Mumbai for facilitation of its customer, borrowers and other stakeholders. It already has branch offices in Chennai and Hyderabad.  IREDA: It works under Ministry of New and Renewable Energy (MNRE) established as a Non-Banking Financial Institution in 1987 with motto: ‘ENERGY FOR EVER’. IREDA’s corporate and registered office is in New Delhi.

Correct Answer – D. Siddharth Chatterjee

Explanation: UN Secretary-General Antonio Guterres has appointed senior UN official Siddharth Chatterjee of India as the United Nations Resident Coordinator in China. Resident Coordinators are the UN Secretary-General’s representatives for development at the country level. They lead UN teams supporting countries to recover better from the COVID-19 pandemic through the Sustainable Development Goals (SDGs). Guterres appointed Chatterjee as the Resident Coordinator in China, with the host government’s approval.

Correct Answer – D. Bharat Electronics Limited

Explanation: The Indian Navy has signed a contract with the Bharat Electronics Limited (BEL), to procure Light Amplification by Stimulated Emission of Radiation Dazzlers (Laser Dazzlers). Initially, agreement has been signed for 20 Laser Dazlers. The Laser dazzler technology has been developed by Defence Research and Development Organisation (DRDO) and would be manufactured by BEL, Pune plant. It is the first time that this unique product is indigenously designed and developed for the Armed Forces.

They are used as a non-lethal method for warning and stopping suspicious vehicles/boats/aircraft/UAVs/pirates etc. from approaching secured areas during both day and night. It is capable of dazzle and thereby suppress the person’s/optical sensor’s action with disability glare in case of non-compliance to orders. While this technology can disorient/ confuse/blind a person temporarily, it can also dazzle and distract aircraft/UAVs.

Correct Answer – C. March 2018

Explanation: Reserve Bank of India has launched a Digital Payments Index (DPI) to capture the extent of digitization of digital/electronic payments across the country. This RBI-Digital Payments Index (DPI) has 5 broad parameters that will be used for the measurement of deepening and penetration of digital payments.

These parameters and their weightage are as under:

• Payment Enablers (weight 25%),
• Payment Infrastructure – Demand-side factors (10%),
• Payment Infrastructure – Supply-side factors (15%),
• Payment Performance (45%) and
• Consumer Centricity (5%).

The base period for RBI-DPI is March 2018. This means that the DPI score for March 2018 is set at 100. RBI has calculated the DPI for March 2019 and March 2020 at 153.47 and 207.84 respectively, indicating appreciable growth. RBI-DPI shall be published on a semi-annual basis from March 2021 onwards with a lag of 4 months.

Correct Answer – B. Kurukshetra

Explanation:  Himachal Pradesh chief minister (CM) Jai Ram Thakur inaugurated the International Gita Mahotsav at Haryana’s Kurukshetra. The international festival was held from 17th to 25th December, 2020. In view of the pandemic, the celebrations are subdued this time. While earlier, the extravaganza used to continue throughout the month, this time the celebrations was last for only a week.

Correct Answer: C. Politics

Explanation: Former Union Minister and senior Rajasthan Congress leader Buta Singh passed away. The veteran politician Buta Singh served as Home Minister of India in the Rajiv Gandhi government from 1986 to 1989. Buta Singh had also served as the Minister of Agriculture and Rural Development. He was a four-time MP from Jalore-Sirohi Lok Sabha constituency. He served as the Chairperson of the National Commission For Scheduled Cast from 2007 to 2010.