Daily GK and Current Affairs Quiz – 5th February 2022

Correct Answer: C. USD 500 million

Explanation: Export-Import Bank of India (Exim Bank) on behalf of the government of India, extended a line of credit of $500 million to the government of the socialist republic of Sri Lanka for financing the purchase of petroleum products. The fund will be used by the Island nation for the purchase of petroleum products. With the signing of this new LOC agreement, the total LOC extended by Exim Bank to Sri Lanka till date has reached 10, taking the total value of LOCs extended to USD 2.18 billion.

With the signing of this LoC agreement, Exim Bank has now in place 276 lines of credit, covering 61 countries in Africa, Asia, Latin America and the Commonwealth of Independent States (CIS), with credit commitments of around $27.84 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LoCs enable the demonstration of Indian expertise and project execution capabilities in emerging markets.

Important Points:

• Export-Import Bank of India Founded: 1982;
• Export-Import Bank of India Headquarters: Mumbai

Correct Answer – D. China

Explanation: China is celebrating the Spring Festival, it’s the most important annual festival as it entered the Lunar new “Year of the Tiger”. Last year was celebrated as the Lunar Year of the Ox. According to the Chinese Zodiac calendar, the Year of the Ox has ended and the Year of the Tiger has begun from February 1, 2022, and will end on January 21, 2023.

In Chinese culture, the tiger symbolizes bravery, vigor and strength and it is believed that it can lift people from adversity and usher in final auspiciousness and peace. Each year is named after one of 12 signs of the Chinese zodiac in a repeating cycle. This year, Spring Festival celebrations coincide with the Beijing Winter Olympics.

Important Points:

• China Capital: Beijing;
• China Currency: Renminbi;
• China President: Xi Jinping.

Correct Answer – B. Telugu

Explanation: A Telugu short film ‘Street Student’ by Akula Sandeep depicting the story of a street urchin with a strong message on right to education has bagged the first prize in a competition organised by the National Human Rights Commission (NHRC). ‘Street Student’ by Akula Sandeep has been selected for the first prize worth Rs 2 lakh in the seventh Short Film Award Competition. It is in Telugu with subtitles in English. The film shows the story of a street urchin to send across a strong message on right to education and how society needs to support it.

The second prize worth Rs 1.5 lakh goes to, ‘Karfew’ by Romi Meitei. The film, through the story of a child in Manipur, pitches in hope for a better world, wherein people’s right to life, liberty, dignity and equality can be protected against odds including stereotyped fear psychosis. It is in the Meiteilon language with subtitles in English.

Correct Answer – C. J Sai Deepak

Explanation:  A Trilogy book series titled, ‘India, That is Bharat: Coloniality, Civilisation, Constitution’ is authored by J Sai Deepak and published by Bloomsbury India. The 1st part was released on 15th August 2021, is set to launch the 2nd part in June 2022. Whereas, the 3rd and last parts will be released in June 2023.

It is the first part of a comprehensive trilogy, which examines the impact of European ‘colonial consciousness’ (or ‘coloniality’), on Bharat (India). It highlights how colonialism changes the socio-religious culture, history, education, language and racial patterns in India.

The essence of  the book:

India, That Is Bharat, the first book of a comprehensive trilogy, explores the influence of European ‘colonial consciousness’ (or ‘coloniality’), in particular its religious and racial roots, on Bharat as the successor state to the Indic civilisation and the origins of the Indian Constitution.

Correct Answer – B. Nashik

Explanation: The Reserve Bank of India has cancelled the license of Independence Co-operative Bank Ltd., Nashik, Maharashtra w.e.f February 03, 2022. The major reason for the cancellation of the license by RBI is that bank does not have adequate capital and earning prospects. This means that it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.

Now, what will happen to depositors’ money?

The bank has stopped operation from the close of business on February 3, putting depositors of the bank in trouble. They would however receive up to Rs five lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC), after the bank’s liquidation.

RBI has told the Commissioner for Cooperation and Registrar of Cooperative Societies in Maharashtra to issue an order for winding up the bank and appoint a liquidator. As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC.

Important Points:

• DICGC Chairperson: Michael Patra;
• DICGC Founded: 15 July 1978;
• DICGC Headquarters: Mumbai.

Correct Answer – B. Daryl Mitchell

Explanation: New Zealand cricketer, Daryl Mitchell has been named the winner of the International Cricket Council (ICC) Spirit of Cricket Award 2021. This award is given to him for his gesture of refusing to take a single in the high-pressure 2021 ICC Men’s T20 World Cup Semi-Finals against England as he felt he had “obstructed” the way of bowler Adil Rashid at the Sheikh Zayed Stadium in Abu Dhabi. He has become the 4th New Zealand player to win the award after Daniel Vettori, Brendon McCullum and Kane Williamson.

About the ICC Spirit of Cricket Award:

The ICC Spirit of Cricket Award is annually awarded by the ICC to recognise the player most notable for “upholding the ‘Spirit of the Game’”.

Important Points:

• ICC Chairman: Greg Barclay;
• ICC CEO: Geoff Allardice;
• ICC Headquarters: Dubai, United Arab Emirates;
• ICC Founded: 15 June 1909.

Correct Answer – C. China

Explanation: Ping An Insurance of China has emerged as the world’s most valuable insurance brand as per the latest Brand Finance report of 2022.5 Chinese insurance companies are among the top ten ranking.The US has two companies in the top 10, while France, Germany, and India have one each in the list. This has Life Insurance Corporation becoming the only domestic insurer to rank in the top 10 list strongest brands and top 10 most valuable insurance brands.

Correct Answer – B. Hrithik Roshan

Explanation: Games24x7 has announced Hrithik Roshan as the brand ambassador for the online skill gaming platform, RummyCircle.As part of the partnership, Roshan will be seen in multimedia campaigns by RummyCircle, spanning across TV, digital and social media platforms.

Correct Answer – C. North Korea

Explanation: North Korea has confirmed that it test-launched on 30 January its locally developed Hwaseong-12 intermediate‐range ballistic missile (IRBM).The launch was the seventh missile test that Pyongyang has conducted since the start of 2022. It is also the longest-range missile that North Korea has launched since 2017.The launch of the “Hwasong-12-type surface-to-surface intermediate- and long-range ballistic missile” was organised by the Academy of Defence Science (ADS), the Second Economic Committee.

Correct Answer – C. Subhash Chandra Garg

Explanation: Former finance secretary Subhash Chandra Garg will soon make his debut as an author with upcoming book, “The $10 Trillion Dream”.The book claims to explore the critical policy issues that India faces today and suggests reforms for it to become a USD 10 trillion economy by the mid-2030s.The book scheduled to publish by end of Feb 2022.It is published by Penguin Random House India (PRHI).

Correct Answer – A. Rahul Bhatia

Explanation: InterGlobe Aviation has announced the appointment of its Co-founder Rahul Bhatia as the company’s Managing Director with immediate effect. The company is the parent of the country’s largest airline IndiGo. Bhatia is the Co-founder and Promoter of InterGlobe Aviation.Meleveetil Damodaran is the Chairman of IndiGo. The company is headquartered in Gurgaon, Haryana.

Correct Answer – A. Aravalli Biodiversity Park

Explanation: The Aravalli Biodiversity Park has been declared India’s first “other effective area-based conservation measures” (OECM) site. The OECM tag is given by the International Union for Conservation of Nature (IUCN) to areas that are not protected but support rich biodiversity.The park is spread across 390 acres and has semi-arid vegetation, with around 300 native plants, and 101,000 trees.

Correct Answer – A. Swachhta Saarthi

Explanation:  The Office of the Principal Scientific Adviser to the Government of India has announced the “Swachhta Saarthi Fellowship 2022”. It has been launched under its “Waste to Wealth” Mission. It will empower young innovators who are engaged in community work of waste management, waste awareness campaigns, etc. as Swachhta Saarthis and implement actions to reduce waste for a greener planet.

Correct Answer: A. Dinesh Prasad Saklani

Explanation: Professor Dinesh Prasad Saklani has been appointed as the new Director of the National Council of Educational Research and Training (NCERT). He has been appointed for a period of five years or till he attains the age of 65 years, whichever is the earliest. NCERT is an autonomous body, which assists and advises the government on policies for improvement in school education.