Current Affairs Quiz: 31 July 2021

AffairsCloud brings you the complete and important daily Current Affairs 31 July 2021 Quiz to achieve more marks in Banking, Insurance, UPSC, SSC, CLAT, Railways and all other competitive Exams. We have prepared the current affairs quiz question from our daily current affairs 2021 updates.

Our Current Affairs July 2021 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.

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Top 10 Questions Based on Current Affairs 31 July 2021

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1. As a boost to the disinvestment of ______________________, Central government (in July’21) allowed 100% FDI under automatic route in ___________ PSUs.
   1) Cement Corporation of India; Construction Sector
   2) Indian Oil Corporation; Oil Refinery Sector
   3) General Insurance Corporation of India; Insurance Sector
   4) Bharat Petroleum; Oil Refinery Sector
   5) Life Insurance Corporation of India; Insurance Sector
   
   Answer & Explanation

   Answer-4) Bharat Petroleum; Oil Refinery Sector
   Explanation:
   Central Government has allowed 100% FDI under the automatic route for oil refiners in case an ‘in-principle’ approval for strategic disinvestment of a Public Sector Undertaking (PSU) has been granted by it.
   i.This comes as a boost to government’s privatization of Bharat Petroleum Corporation Ltd. (BPCL).
   
   
   
2. In July 2021, Union Cabinet approved the amendment of General Insurance Business Nationalisation Act (GIBNA), 1972, to facilitate privatisation of ____ General Insurance Company from the total _______ in public sector.
   1) 2; 4
   2) 2; 6
   3) 2; 5
   4) 1; 5
   5) 1; 4
   
   Answer & Explanation

   Answer-5) 1; 4
   Explanation:
   The Union Cabinet has approved the amendment in the General Insurance Business Nationalisation Act (GIBNA), 1972 to facilitate the privatisation of 1 General Insurance Company in the public sector.
   Currently there are 4 Public sector General Insurance Companies – New India Assurance, UIIC, Oriental Insurance, NICL.
   
   
   
3. As per the “‘Periodic Labour Force Survey (PLFS)” report released by _____________, unemployment rate among Indian Women is at ______ in 2019-20
   1) NITI Aayog; 5.1%
   2) National Statistical Office; 5.1%
   3) NITI Aayog; 4.2%
   4) National Commission for Women; 4.2%
   5) National Statistical Office; 4.2%
   
   Answer & Explanation

   Answer-5) National Statistical Office; 4.2%
   Explanation:
   In accordance with the ‘Periodic Labour Force Survey (PLFS)- Annual Report (July, 2019 – June, 2020)’ conducted by National Statistical Office (NSO), unemployment rate for women fell to 4.2% in 2019-20 from 5.1% in 2018-19.
   
   
   
4. In July 2021, Ministry of Ports set-up a committee to plan on the proposed ferry service between India’s ____________ and Kankesanthurai Port in __________________.
   1) Karaikal; Sri Lanka
   2) Kolkata; Bangladesh
   3) Visakhapatnam; Bangladesh
   4) Karaikal; Myanmar
   5) Visakhapatnam; Sri Lanka
   
   Answer & Explanation

   Answer-1) Karaikal; Sri Lanka
   Explanation:
   The Ministry of Ports, Shipping and Waterways(MoPSW) has set up a committee to define a comprehensive plan to start the ferry service between Karaikal Port, Karaikal, Puducherry, India and Kankesanthurai Port (also known as KKS), Jaffna (Northern Province), Sri Lanka.
   
   
   
5. In July 2021, India & Russia conducted the 12th edition of Naval exercise ‘INDRA’ in ____________, where Indian side was represented by __________.
   1) Baltic Sea; INS Tabar
   2) Baltic Sea; INS Trishul
   3) Andaman Sea; INS Tabar
   4) Andaman Sea; INS Trishul
   5) Arabian Sea; INS Tabar
   
   Answer & Explanation

   Answer-1) Baltic Sea; INS Tabar
   Explanation:
   The 12th Edition of Biennial bilateral maritime Exercise ‘INDRA Navy-21’ was held between the Indian Navy & Russian Federation Navy in the Baltic Sea from July 28-29, 2021. Stealth Frigate INS Tabar represented the Indian Navy.
   
   
   
6. In July 2021, NABARD sanctioned Rs 445 crore loan under its Rural Infrastructure Development Fund to support drinking water projects in which state?
   1) Karnataka
   2) Madhya Pradesh
   3) Odisha
   4) Punjab
   5) Maharashtra
   
   Answer & Explanation

   Answer-4) Punjab
   Explanation:
   NABARD sanctioned Rs 445.89cr for five large surface based drinking water projects in Ferozpur, Fazilka, Hoshiarpur and Rupanagar districts of Punjab.
   i.The funds have been sanctioned under the Rural Infrastructure Development Fund (RIDF).
   
   
   
7. Which bank partnered with LIC Cards Services to launch 2 Credit Cards – ‘Lumine’ Platinum Credit Card & ‘Eclat’ Select Credit Card?
   1) ICICI Bank
   2) Canara Bank
   3) HDFC Bank
   4) Axis Bank
   5) IDBI Bank
   
   Answer & Explanation

   Answer-5) IDBI Bank
   Explanation:
   LIC Cards Services Ltd (LIC CSL) in partnership with IDBI Bank launched 2 variants of co-branded RuPay Credit Cards – LIC CSL ‘Lumine’ Platinum Credit Card & LIC CSL ‘Eclat’ Select Credit Card.
   LIC CSL was Establishment in 2008
   
   
   
8. In July 2021, NASSCOM partnered with the Department for International Trade (DIT) of _______________ to address its Digital Skill Gap
   1) Afghanistan
   2) United Kingdom
   3) Bangladesh
   4) Vietnam
   5) Brazil
   
   Answer & Explanation

   Answer-2) United Kingdom
   Explanation:
   The National Association of Software and Services Companies (NASSCOM), partnered with the UK Government’s Department for International Trade (DIT) and the UK India Business Council (UKIBC) to address the Digital Skill Gap in the United Kingdom.
   
   
   
9. Which Indian state partnered (in July’21) with Afghanistan Chamber of Commerce and Investment (ACCI) to boost trade with the country?
   1) Telangana
   2) West Bengal
   3) Karnataka
   4) Maharashtra
   5) Gujarat
   
   Answer & Explanation

   Answer-1) Telangana
   Explanation:
   Federation of Telangana Chambers of Commerce and Industry (FTCCI) has signed an agreement with the Afghanistan Chamber of Commerce and Investment (ACCI) to promote the business between Afghanistan and Telangana.
   
   
   
10. As per the Banking Regulation Act – 1949, All Banks in India shall maintain a Reserve Fund/Statutory Reserve equivalent to ______ of their annual net profit.
    1) 5%
    2) 25%
    3) 10%
    4) 15%
    5) 20%
    
    Answer & Explanation

    Answer-5) 20%
    Explanation:
    Section 17, under the Banking Regulation Act, 1949, mandates all banks in India to maintain a Sum equivalent to 20% of their annual net profit as a Reserve Fund/Statutory Reserve.