Daily GK & Current Affairs Quiz – 9th July 2020

Correct Answer– E. All of the above

Explanation– The USMCA enters into force on July 1st 2020 bringing major change. As one of the most modern Trade Agreements in the world it is focused on implementing international standards while seeking to promote best practices for all industries.The Agreement between the United States of America, Mexico, and Canada (USMCA), is a free trade agreement between the north American countries. Rather than a wholly new agreement, it has been characterized as “NAFTA 2.0”.

Correct Answer– C. Sports Ministry

Explanation– The Union Minister of Youth Affairs and Sports Kiren Rijijuannounced that the government will launch Target Olympic Podium Scheme (TOPS) for junior athletes (besides the already existing TOPS senior, for grooming the potential juniors as well for the 10-12 years old) to groom them for 2024 and 2028 Olympics.

Correct Answer– B. Rs 14,000 crore

Explanation– Edelweiss Asset Management Company (AMC), a subsidiary of Edelweiss Capital Limited (ECL) has decided to bring the second instalment of the Bharat Bond ETF (Exchange Traded Fund) with two new series to raise Rs 14,000 crore in July 2020.Through the launch of these two new ETF series, which have maturities of 5 years and 11 years, Edelweiss aims to raise an initial amount of Rs. 2,000 crores from institutional players with a greenshoe option of Rs. 6,000 crores 5-year maturity period (April 2025) and initial amount of Rs. 1,000 crores with a green shoe option of Rs. 5,000 crores in 11 years (April 2031).

Correct Answer– A. RailTel

Explanation– The Indian Railways and RailTel signed a Memorandum of Understanding (MoU) for installation of an IP-based video surveillance system at 6,049 railway stations across the country.

Correct Answer– C. 1.7 MWp

Explanation– Piush Goyal-led Indian Railways has set up a solar power plant in Bina, located in the state of Madhya Pradesh to directly power the Railway Overhead Line. This project is unique because, for the first time in the world, the power generated by the solar power plant will be directly fed to the overhead power lines of the national transporter to power the traction system of the electric locomotives to run trains. The pilot project of 1.7 mega watt solar power plant has been set up by Indian Railways in collaboration with Bharat Heavy Electrical Limited (BHEL) on railway land.

Correct Answer– B. Rajeeva Swarup

Explanation– The Rajasthan Government appointed Rajeeva Swarup the current Additional Chief Secretary (Home) as the new Chief Secretary (CS) of Rajasthan replacing incumbent D.B. Gupta in the bureaucratic reshuffle amid COVID-19 pandemic.

Correct Answer– A. Injeti Srinivas

Explanation– A 1983-batch IAS officer, Injeti Srinivas has been appointed as 1st chairman of the International Financial Services Centres Authority (IFSCA) for a period of three years. The Appointments Committee of the Cabinet has approved his appointment. Besides the Chairman, IFSCA has a member each nominated from RBI, IRDAI, SEBI and PFRDA. There are also two members from the Central Government and full-time or part-time members in the Authority.

The IFSCA was recently established by the finance ministry on April 27 as the unified authority to regulate all financial services in International Financial Services Centres (IFSCs) in the country. The main function of the authority will be to regulate financial products such as securities, deposits or contracts of insurance, financial services, and financial institutions which have been previously approved by any appropriate regulator in an IFSC.

Correct Answer– D. YES Bank

Explanation–  YES Bank has launched a digital solution, “Loan in Seconds” for instant disbursement of retail loans. The account holders identified by the bank can avail this quick loan disbursal facility without any document. The solution aims to provide customers, completely paperless and hassle-free loans to help them meet their immediate financial needs. Eligible customers under ‘Loan in Seconds’ will receive communication from the bank with the link to apply for the loan.

Correct Answer– A. Sanskrit Saptahiki

Explanation– The All India Radio (AIR) has broadcasted a programme titled “Sanskrit Saptahiki“. It is the first ever ‘News Magazine’ programme in Sanskrit which constitutes news from the world of Sanskrit including the prominent developments of the week. Sanskrit Saptahiki is a weekly programme comprising various components such as Sukti, Prasang, Saptahiki, Sanskrit Darshan, Gyan Vigyan, Bal Vallari, Ek Bharat-Shreshtha Bharat and Anvikshiki. The programme will also give voices to the children and the youth about the great Indian tradition and culture. The programme will also explain about the humane values embodied in the Sanskrit literature, philosophy, history, art, culture and tradition.

Correct Answer– B. Rs 23,848 crore

Explanation– Over the period of next six financial year (2020-21 to 2025-26), an amount of Rs 23,848 crore for the Panchayati Raj Institutions (PRIs) and Urban Local Bodies (ULBs) in the state of Odisha has been recommended by the 5th State Finance Commission of Odisha on. These funds allocated will be for strengthening the ULBs and PRIs in the state financially so that various developmental projects and maintenance of existing assets can be taken up by these institutes and bodies. Projects on which the funds will be invested by PRIs and ULBs: drainage networks, sanitation, drinking water, solid waste management, maintenance of public Health Sub Centers and Anganwadis, construction of roads, etc.

Correct Answer– C. 34th

Explanation– India improved its rank to 34th in the biennial Global Real Estate Transparency Index (GRETI). The Index was released by the United States-based property and investment management services firm- Jones Lang LaSalle Incorporated (JLL). Since, sustainability initiatives and regulatory reforms have enhanced higher levels of transparency in the real estate industry of India as a result of which India improved its ranking. GRETI was first released in the year 1999. This year marked the 11th edition of GRETI. A total of 163 cities and 99 countries have been covered in the 11th edition of GRETI.

Correct Answer– D. Facebook

Explanation– The Union Minister for Human Resource Development (HRD) Ramesh Pokhriyal ‘Nishank’ made an announcement on the partnership of Central Board of Secondary Education (CBSE) and Facebook to launch a curriculum on Digital Safety and Online well-being and Augmented Reality (AR) for students and educators.As part of the collaboration, Facebook will support CBSE in its first-ever initiative to introduce AR as a curriculum.

Correct Answer–  B. Afghanistan

Explanation– In order to strengthen the bilateral development partnership, the Government of India has inked 5 Memorandums of understanding (MoUs) with Afghanistan under the former’s high impact community development projects (HICDP) programme. The objective behind these MoUs is the development of educational infrastructure in four Afghan provinces namely Nooristan, Farah, Badakhshan and Kapisa.

Correct Answer– B. Ladakh

Explanation– Radha Krishna Mathur, Lieutenant Governor of Ladakh launched Mission Organic Development Initiative(M.O.D.I) and Greenhouse Project, to lead the Union Territory on a sustainable path, over a virtual platform from Raj Niwas, Ladakh.