Daily GK and Current Affairs Quiz – 9th & 10th August 2020

Correct Answer: . $108.6 billion

Explanation: In accordance with the report by the Asian Development Bank (ADB) published on August 3, 2020, if the economic impact of COVID-19 persists throughout the year then global remittances may fall by $108.6 billion in 2020. As per the report, there is severe continuous impact of pandemic on the global economic systems and employment.

Correct Answer – B. Apple

Explanation: FutureBrand Index 2020 was released, Reliance Industries Limited (RIL), Oil and Gas Company ranked as the Second Biggest Brand for its recognition associated with its growth, innovative products and customer service after Apple which topped the index. RIL ranked 91st in the PricewaterhouseCoopers(PwC) Global Top 100 companies 2020.

Correct Answer – C. Moothon

Explanation: Malayalam film ‘Moothon’ and National Award winning documentary ‘Son Rise’ won awards at the 20th edition of New York Indian Film Festival(NYIFF) of Indo-American Arts Council (IAAC) which was conducted as a virtual event with the celebrities of the film industries and award winners participating from all across India and the United States. The Malayalam film “Moothon” directed by Geetu Mohandas starring Nivin Pauly won the Best Film Award in the 20th NYIFF. For Moothon, Nivin Pauly won the Best Actor Award for his role as Akbar and Sanjana Dipu won the Best Child Actor Awards for her role as Mulla. Son Rise directed by Vibha Bakshi won the 20th NYIFF award under the Best Feature Documentary category. Garggi Ananthan won the Best Actress Award at the 20th NYIFF for the film “Run Kalyani”.

Correct Answer – D. National Skill Development Corporation

Explanation In order to support the continuity of digital skilling of the Indian workforce, Simplilearn, a global provider of digital skills training joined hands with National Skill Development Corporation (NSDC). Under this collaboration, Simplilearn will host more than 1,000 hours of free learning in digital skills and technologies for learners across India under the categories of AI and Machine Learning, Big Data, Data Science & Business Intelligence, Cyber Security, Software Development, Project management, and Digital marketing. This partnership is aligned to the Skill India Mission.

Correct Answer – B. M S Sahoo

Explanation: In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020.MS Sahoo is the chairperson of IBBI.

Correct Answer – B. Mandarin

Explanation: The National Education Policy (NEP) has dropped Mandarin or ‘Chinese’ from its list of examples of foreign languages that can be taught in schools. The language was included in the draft version of the Policy released in May 2019, but was missing from the final Policy document approved by the Union Cabinet.

Correct Answer – C. USD 250 million

Explanation: Export-Import Bank on behalf of Indian Government, extended a Line of Credit of USD 250 million (about Rs. 1,870 Crores) to Mozambique to improve the power supply quality of the country.

Correct Answer – C. USD 200 million

Explanation: The Asian Development Bank (ADB) has signed a USD 200 million financing deal with the Reliance Bangladesh LNG and Power Limited (RBLPL) to build and operate a 718 megawatt combined-cycle gas-fired power plant in Bangladesh. The project will reduce the current energy deficit and lead to more private sector investment in the country’s electricity sector.The financing deal has two components of dollar 100 million each.

Correct Answer – B. KV Kamath

Explanation:  The Reserve Bank of India (RBI) has set up an expert committee under veteran banker KV Kamath to suggest financial parameters for resolution of Covid-19 related stressed assets. The committee will submit its recommendations to the RBI, which will notify them along with modifications, in 30 days. The other members of the committee will be Diwakar Gupta, T N Manoharan and Ashvin Parekh will be strategy advisor and the Indian Banks’ Association CEO will function as member secretary of the panel.

• RBI has announced a ‘Resolution Framework for COVID-19-related Stress’, as a special window under the Prudential Framework on Resolution of Stressed Assets issued on June 7, 2019.
• The resolution framework envisages constitution of an expert committee by the RBI to make recommendations on the required financial parameters to be factored in into the resolution plans, with sector-specific benchmark ranges for such parameters.
• The expert committee will also undertake the process validation for the resolution plans to be implemented under this framework, without going into the commercial aspects, in respect of all accounts with aggregate exposure of Rs 1,500 crore and above at the time of invocation.
• In a major relief to corporate and retail borrowers, the RBI permitted banks to go for the one-time restructuring of loans that are facing stress due to the COVID-19 crisis with a view to mitigating risks to financial stability.

Correct Answer – A. IIT Delhi

Explanation: National Highways Authority of India signed an agreement with Indian Institute of Technology Delhi to set up a Centre of Excellence (CoE) for use of Artificial Intelligence (AI) in data driven decision making and Advance Data Management System for Highways (ADMS Highways). The Memorandum of Understanding (MoU) was signed in the presence of Dr. Sukhbir Singh Sandhu, Chairman NHAI and Dr V Ram Gopal Rao Director, IIT Delhi.

Correct Answer – B. Russia

Explanation: India will take part in the multilateral military “Russian Kavkaz 2020” strategic command-post exercise to be held in Astrakhan, Russia. The Indian contingent includes 150 Army personnel and a smaller number of personnel from the Navy and Air Force. The invitation for participation to Kavkaz 2020, also referred to as Caucasus-2020, has been extended to at least 18 countries including China, Iran, Pakistan and Turkey apart from other Central Asian Republics part of the SCO.

Correct Answer – C. 9th August

Explanation: United Nations observes the International Day of the World’s Indigenous Peoples on 09th August every year. The day is being observed to raise awareness of the needs of indigenous peoples. The theme of International Day of the World’s Indigenous Peoples 2020 is “COVID-19 and indigenous peoples’ resilience”. To commemorate the day, the Indigenous Peoples and Development Branch – Secretariat of the Permanent Forum on Indigenous Issues will organize a virtual event which will feature a panel discussion on the innovative measures to make indigenous peoples continue to demonstrate resilience and strength in the face of the pandemic, while confronting grave threats to their survival.

Correct Answer – D. Politician

Explanation: Former Congress leader and eight-time parliamentarian from Telangana, Nandi Yellaiah passed away. He was first elected to the Lok Sabha from Siddipet in 1979. He was elected to Lok Sabha six times and Rajya Sabha twice from 2002 to 2014. Nandi Yellaiah commenced his political career as a corporator of Hyderabad Municipal Corporation. He was presently serving as the vice-president of the Telangana Pradesh Congress Committee (TPCC).

Correct Answer: C. 4.23%

Explanation: Life Insurance Corporation of India(LIC) has acquired 4.23% Stake(105.98 crore shares) of YES Bank by purchasing from the open market. With this acquisition, the hold of LIC in YES Bank has increased from 0.75%(19 crore shares) to 4.98%(125 crore shares). Period of acquisition is between September 21, 2017, and July 31, 2020.