Daily GK and Current Affairs Quiz – 5th August 2021

Correct Answer: B. European Space Agency

Explanation: The European Space Agency (ESA) has planned to launch the world’s first wooden satellite. It is going to be launched from New Zealand. It will be launched from a Rocket Lab Electron rocket by the end of 2021. The satellite is the brainchild of Jari Makinen.

About the Satellite:

The satellite, WISA Woodsat, is a nanosatellite.It is 10cm on each side, length, height, and width.The sensors of the satellite have been developed by the European Space Agency (ESA) and designers have placed the wood in a thermal vacuum chamber to keep it dry.A very thin aluminium oxide layer has been used to minimize the vapour coming from the wood and to protect it from the erosive effects of atomic oxygen. The non-wooden external parts are made up of aluminium rails.

Important Points:

• European Space Agency Headquarters: Paris, France;
• European Space Agency Founded: 30 May 1975, Europe;
• European Space Agency CEO: Johann-Dietrich Worner.

Correct Answer – C. IndusInd Bank

Explanation: The IndusInd Bank has been empanelled by the Reserve Bank of India (RBI) to act as an ‘Agency Bank’.As an Agency Bank, IndusInd becomes eligible to carry out transactions related to all kinds of government-led businesses. This decision is based on the RBI guideline that authorises scheduled private sector banks as agency banks of the regulator for the conduct of government business.IndusInd Bank now joins few other private banks of the country listed as Agency Bank of RBI, to carry out general banking business on behalf of the central and state government, apart from offering its customers the convenience of undertaking routine financial transactions through its banking platform.

As an empanelled ‘Agency Bank’, IndusInd Bank can perform certain transactions such as:

• Handle transactions pertaining to revenue receipts under CBDT, CCBIC and GST on behalf of the state/central government.
• Make transactions for pension payments on behalf of state/central government work related to Small Savings Schemes (SSS).
• Collection of stamp duty charges, and collection of stamp duty from citizens for the franking of documents.
• Undertake the collection of state taxes such as professional tax, VAT, state excise etc. on behalf of various state governments, among other things.

Important Points:

• The IndusInd Bank CEO: Sumant Kathpalia;
• The IndusInd Bank Headquarters: Pune;
• The IndusInd Bank Owner: Hinduja Group;
• The IndusInd Bank Founder: S. P. Hinduja;
• The IndusInd Bank Founded: April 1994, Mumbai.

Correct Answer – D. 7

Explanation: Seven Indian companies have found a place in 2021 Fortune’s Global 500 list. The Fortune Global 500 is an annual ranking of the top 500 enterprises globally, as measured by business revenues. Mukesh Ambani-led Reliance Industries Ltd is the highest-ranked Indian company on the list in terms of revenue, with revenues of nearly $63 billion. It is placed at 155th spot globally.

Globally, Walmart has topped the list in terms of revenue for the eighth consecutive year and the 16th time since 1995. China has dominated this years list for the highest number of companies featuring in the list at 143, including those from Taiwan. This is followed by the U.S. with 122, and Japan with a total of 53, respectively.

Indian Companies in the list:

• Reliance Industries (155)
• State Bank of India (205)
• Indian Oil (212)
• Oil & Natural Gas (243)
• Rajesh Exports (348)
• Tata Motors (357)
• Bharat Petroleum (394)

The top 10 Global Companies in the list:

• Walmart (US)
• State Grid (China)
• com (US)
• China National Petroleum (China)
• Sinopec (China)
• Apple (US)
• CVS Health (US)
• UnitedHealth Group (US)
• Toyota Motor (Japan)
• Volkswagen (Germany)

Correct Answer – A. Walmart

Explanation:  Seven Indian companies have found a place in 2021 Fortune’s Global 500 list. The Fortune Global 500 is an annual ranking of the top 500 enterprises globally, as measured by business revenues. Mukesh Ambani-led Reliance Industries Ltd is the highest-ranked Indian company on the list in terms of revenue, with revenues of nearly $63 billion. It is placed at 155th spot globally.

Globally, Walmart has topped the list in terms of revenue for the eighth consecutive year and the 16th time since 1995. China has dominated this years list for the highest number of companies featuring in the list at 143, including those from Taiwan. This is followed by the U.S. with 122, and Japan with a total of 53, respectively.

Indian Companies in the list:

• Reliance Industries (155)
• State Bank of India (205)
• Indian Oil (212)
• Oil & Natural Gas (243)
• Rajesh Exports (348)
• Tata Motors (357)
• Bharat Petroleum (394)

The top 10 Global Companies in the list:

• Walmart (US)
• State Grid (China)
• com (US)
• China National Petroleum (China)
• Sinopec (China)
• Apple (US)
• CVS Health (US)
• UnitedHealth Group (US)
• Toyota Motor (Japan)
• Volkswagen (Germany)

Correct Answer – C. Rs 3 trillion

Explanation:The government has set the loans disbursement target under the PM Mudra Yojana (PMMY) at Rs 3 trillion for 2021-22 (FY22). This target is lower than the previous year. For FY21, the target was set at Rs 3.21 trillion. Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses.Under PMMY, credit up to Rs 10 lakh is provided by banks and non-banking financial companies for entrepreneurial activities to small business units, including for new enterprises in sectors such as manufacturing, trading, services and activities allied to agriculture. The central government allocates annual targets for sanctioning of loans under the scheme.In FY22, loans worth Rs 3,804 crore have been sanctioned by 13 public sector banks (PSBs) as of June 25.

About the PMMY:

Pradhan Mantri Mudra Yojana (PMMY) is a scheme to extend collateral-free loans by Banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs)   to Small/Micro business enterprises and individuals in the non-agricultural sector to enable them to set up or expand their business activities and to generate self-employment. The maximum limit of the loan is Rs 10 lakh. MUDRA stands for Micro Units Development & Refinance Agency Ltd.

Correct Answer – A. INS Viraat

Explanation: India’s first indigenously designed and built aircraft carrier began sea trials off the coast of Kochi.The landmark achievement puts India in an exclusive list of a handful of nations that have the capability to manufacture these most powerful of naval vessels.The Indigenous Aircraft Carrier (IAC) will carry the name INS Vikrant — the same as the Indian Navy’s first aircraft carrier that was decommissioned in 1997 after more than 35 years of service — once it is commissioned next year.Once it is commissioned, INS Vikrant will join the Russian-origin INS Vikramaditya, at present India’s sole aircraft carrier.

Correct Answer – C. Dogri

Explanation: Noted author and Padma Shri awardee Padma Sachdev, the first modern woman poet of Dogri language, passed away in Mumbai.Sachdev (81), who was born in Purmandal area of Jammu in 1940 in the house of Sanskrit Scholar Prof Jai Dev Badu.She authored many books in Dogri and Hindi, and her poetry collections, including ‘Meri Kavita Mere Geet’, won her the Sahitya Akademi Award in 1971.She received the Padma Shri, the country’s fourth-highest civilian award, in 2001 and was awarded the Kabir Samman for poetry for 2007-08 by the Madhya Pradesh government.

Correct Answer – B. World Bank

Explanation:World Bank has approved USD 250 million project in India titled as Second Dam Rehabilitation and Improvement Project (DRIP-2) agreement for long-term dam safety program and performance of existing dams of India.The agreement was inked between World Bank, Govt of India, Central Water Commission (CWC), and government representatives from 10 participating states.Implementing agency: CWC.At state level, approximately 120 dams will be undertaken across the states.

Correct Answer – C. Uttarakhand

Explanation: Uttarakhand CM Pushkar Singh Dhami has launched earthquake early warning mobile application, titled as ‘Uttarakhand Bhookamp Alert’.It is India’s first earthquake early warning’ app for notifying people about earthquake alerts.It has been developed by IIT Roorkee, in association with Uttarakhand State Disaster Management Authority (USDMA).It can detect the onset of the earthquake and issue warnings regarding an earthquake occurrence in the neighbourhood and the expected time of arrival and intensity at the location to prevent any loss of life.

Correct Answer – C. University of Agricultural Science (UAS), Bangalore

Explanation: Agricultural and Processed Food Products Export Development Authority (APEDA) has signed MoU with University of Agricultural Science (UAS) Bangalore to give boost agricultural and processed food products exports especially from Karnataka.Key areas of cooperation of MoU include developing technologies for advance alertness, efficient & precision farming for enhancing quality exports; diversifying the export basket, destinations and boost high-value Agri-exports.It will also help in strengthening forward and backward linkages, participations in international exhibitions and fairs, branding and marketing, establishment of market intelligence cell, developing traceability systems.

Correct Answer – D. 1023

Explanation: The Cabinet has approved the continuation of Centrally Sponsored Scheme for fast track special courts for a further two years till 31st March 2023.1,023 fast-track special courts have been given get a two-year extension.The central share of the outlay will be funded from the Nirbhaya fund. This will provide speedy justice access to justice to victims of sexual crimes.

Correct Answer – D. 2026

Explanation: The Union Cabinet has approved the continuation of the Samagra Shiksha Scheme for School Education from 1 April 2021-March 31, 2026.With a financial outlay of Rs 2,94,283.04 crore, the scheme will provide access to quality education with an equitable and inclusive classroom environment.Under the National Education Policy 2020 and Samagra Siksha 2.0, formalization of playschool is being done.

Correct Answer – B. Solara Active Pharma Sciences

Explanation:  Former HDFC Bank CEO Aditya Puri has joined the board of pharmaceutical company Solara Active Pharma Sciences as Chairperson.Along with the office of Solara board Chairperson, Puri will also head the nomination and remuneration committee of the board.The Pharma company has also inducted former IAS officer and Revenue Secretary Vineeta Rai as an Independent Director.

Correct Answer: B. Kozhikode

Explanation: Meitra Hospital, Kozhikode announced the launch of the Smith & Nephew CORI robot-assisted joint replacement surgery(RJRS). The innovative technology used by robotic surgical tools helps the surgeons devise a customized plan based on the uniqueness of the case and the patient’s anatomy using a 3-D digital real-time model of the joint and then perform the joint replacement surgery. Innovative robotic joint replacement technology enables accurate and accurate surgery with minimal blood, tissue and bone loss.It is also expected to minimize post-operative trauma to patients and provide faster recovery.