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- Which company recently (in Feb ‘23) signed a contract with the Ministry of Defense (MoD) to procure 41 indigenous modular bridges for the Indian Army’s Corps of Engineers at a cost of over Rs 2,585 crore?
1) Hindustan Aeronautics Limited
2) Larsen & Toubro Limited
3) Bharat Electronics Limited
4) Hindustan Construction Company Limited
5) Bharat Dynamics LimitedAnswer-2) Larsen & Toubro Limited
Explanation:
The Ministry of Defence (MoD) signed a contract with Larsen & Toubro Limited (L&T) to procure 41 indigenous Modular Bridges for the Corps of Engineers of the Indian Army, a combat support arm which provides combat engineering support, develops infrastructure for armed forces.
• The bridges will be procured at an estimated cost of over Rs 2,585 crore.
i. The Modular Bridges were designed and developed by Defence Research and Development Organisation (DRDO) and will be produced by L&T as a DRDO-nominated production agency.
ii. This will boost the indigenisation of defence equipment, in line with the ‘Aatmanirbhar Bharat’ mission. - Which of the following points is ‘Incorrect’ with respect to the RBI’s Bi-monthly monetary policy of FY23 held in February 2023?
1) India’s real Gross Domestic Product (GDP) growth to 6.4% for FY24 (lower than 7% in FY23)
2) The MPC raised the repo rate by 25 basis points to 6.50% from 6.25%.
3) The Standing Deposit Facility (SDF) Rate adjusted to 6.25% from 6.0% and Marginal Standing Facility (MSF) rate to 6.75% from 6.50%.
4) The Bank Rate remained unchanged at 6.50%.
5) Inflation is projected at 6.5% in FY23.Answer-4) The Bank Rate was unchanged at 6.50%.
Explanation:
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on February 6-8, 2023, and released the Monetary Policy Statement, 2022-23 Resolution of the MPC which projected India’s real Gross Domestic Product (GDP) growth to 6.4% for FY24 (lower than 7% in FY23) with FY24’s Q1 at 7.8%, Q2 at 6.2%, Q3 at 6%, and Q4 at 5.8%.
• The stance is to focus on withdrawal of accommodation.
• Consumer Price Index (CPI) inflation or retail inflation is projected at 5.3% for FY24, with FY24’s Q1 at 5%, Q2 at 5.4%, Q3 at 5.4%, and Q4 at 5.6%.
• Inflation is projected at 6.5% in FY23, with Q4FY23 at 5.7%.
• The MPC raised the repo rate by 25 basis points to 6.50% from 6.25%.Policy rates Previous Rate in December 2022 Revised Rate on February 2023 Repo Rate 6.25% 6.50% Reverse Repo Rate 3.35% 3.35% Standing Deposit Facility (SDF) Rate 6.0% 6.25% Marginal Standing Facility (MSF) Rate 6.50% 6.75% Bank Rate 6.50% 6.75% Cash Reserve Ratio (CRR) 4.50% 4.50% Statutory Liquidity Ratio (SLR) 18.00% 18.00% - In February 2023, Which fintech app was the first in India to support RuPay Credit Cards on the Unified Payments Interface (UPI)?
1) Paytm
2) Razorpay
3) MobiKwik
4) Pine Labs
5) BharatPeAnswer-3) MobiKwik
Explanation:
MobiKwik, payment app of One MobiKwik Systems Limited, has become the first fintech app in India to support RuPay Credit Cards on Unified Payments Interface (UPI). The National Payments Corporation of India (NPCI) has allowed Mobikwik to offer its customers the facility to make UPI payments through the RuPay credit cards.
i. Objective: To make financial services accessible to all Indians and lead the way to financial inclusion. - Name the Small Finance Bank (SFB) that has recently (in Feb ‘23) launched India’s First Voice, Visual, Vernacular Banking App for the “Digitally Challenged”.
1) Ujjivan Small Finance Bank
2) ESAF Small Finance Bank
3) Suryoday Small Finance Bank
4) Equitas Small Finance Bank
5) Utkarsh Small Finance BankAnswer-1) Ujjivan Small Finance Bank
Explanation:
Ujjivan Small Finance Bank (SFB) has launched “Hello Ujjivan,” India’s 1st mobile banking application featuring three Vs—voice, visual, and vernacular-enabled features—to provide banking access to people with limited reading and writing skills.
• The app “Hello Ujjivan” was developed in collaboration with Navana.AI.
i. The ‘Hello Ujjivan’ app is designed to instill banking habits in its micro-banking and rural customers who are digitally challenged.
ii. The app is accessible by voice in 8 regional languages: Hindi, Marathi, Bengali, Tamil, Gujarati, Kannada, Oriya, and Assamese.
• The app engine can also adapt to various dialects. - Name the Insurance company that recently (in Feb ‘23) rebranded itself as Zuno General Insurance Limited.
1) United India Insurance
2) Reliance General Insurance
3) ICICI Lombard General Insurance
4) Edelweiss General Insurance
5) Liberty General InsuranceAnswer-4) Edelweiss General Insurance
Explanation:
Edelweiss General Insurance has rebranded itself as Zuno General Insurance Limited (Zuno GI), a new-age digital insurer with the ambition to reimagine and redefine insurance to make it easy, friendly, and transparent.
i.Zuno GI has also launched a consumer study titled ‘Usage Based Insurance: Decoding Awareness, Perception and Behaviour’.
ii.The study was done to assess Millennials’ and GenZ’s (Generation Z) awareness, understanding, and consideration of usage-based insurance (UBI). - Tata Consultancy Services (TCS) has recently (in Feb ‘23) announced the expansion of its partnership with _________________ for long-term savings.
1) Google
2) Standard Life
3) Zoho
4) Cisco
5) Phoenix GroupAnswer-5) Phoenix Group
Explanation:
Tata Consultancy Services (TCS) has announced an expansion of its partnership with Phoenix Group, the United Kingdom’s (UK) largest long-term savings and retirement provider, through a contract valued at over 600 million British pound sterling (GBP).
i.TCS will use the Bell Administrative Network Communications System (BaNCS)-based platform to digitally transform Phoenix’s ReAssure business, including its administration services, as part of the agreement. - Who has recently (in Feb ‘23) selected for ‘Raja Ram Mohan Roy National Award for excellence in Journalism-2020’?
1) Devdutt Pattanaik
2) N Ram
3) Gulab kothari
4) Amitav Ghosh
5) Dr Anne Bhavani Koteswara PrasadAnswer-5) Dr Anne Bhavani Koteswara Prasad
Explanation:
Veteran journalist Dr Anne Bhavani Koteswara Prasad, popularly known as ABK, has been chosen for the ‘Raja Ram Mohan Roy National Award for excellence in Journalism-2020’ for his outstanding contribution to the field of journalism.
i.The award was conferred by Justice Ranjana Prakash Desai, chairperson of the Press Council of India (PCI).
ii.He served as the chairman of the Official Language Commission from 2004 to 2009 in United Andhra Pradesh.
iii.The award carries a cash award of Rs 1Lakh, a plaque, and a citation. - Which of the following Maharatna Central Public Sector Undertaking (CPSU) has recently (in Feb ‘23) been honoured with the Association for Talent Development (ATD) Best Awards 2023?
1) Indian Oil Corporation Limited
2) NTPC Limited
3) Power Finance Corporation
4) Power Grid Corporation of India Limited
5) Hindustan Petroleum Corporation LimitedAnswer-2) NTPC Limited
Explanation:
NTPC Limited, a Maharatna Central Public Sector Undertaking (CPSU) under the Ministry of Power, Government of India, has been honoured with the Association for Talent Development (ATD) Best Awards 2023 for demonstrating enterprise success in the field of Talent Development by the Association for Talent Development (ATD), United States of America (USA).
i.NTPC has won the ATD Best Awards for the sixth time.
ii. NTPC won the ATD Best Award by the ATD, USA in 2017, 2018, 2019, 2020, and 2022.
iii. ATD has named 72 organisations as Best Awards 2023 winners, including 7 best of the best, organisations that have won the BEST Awards ten times or more. - Which bank has recently (in Feb ‘23) signed an agreement with the Telangana government’s Directorate of Treasury and Accounts to collect online government receipts?
1) Dhanlaxmi Bank
2) South Indian Bank
3) YES Bank
4) IDBI Bank
5) Federal BankAnswer-2) South Indian Bank
Explanation:
South Indian Bank Ltd. (SIB) has signed an agreement with the Telangana government’s Directorate of Treasury and Accounts (DTA)(Cyber Treasury), Hyderabad, Telangana. This agreement authorises SIB to collect government receipts on their behalf.
i.SIB is one of the six private sector banks that Telangana State has designated for the purpose of facilitating payments to the Cyber Treasury.
ii.Under this partnership, residents of Telangana can make payments to the state’s online treasury portal, “Cyber Treasury,” using SIB’s Internet banking platform, “SIBerNet.” - Which state/UT has recently (in Feb ‘23) initiated a programme called “alternate agriculture system for sustainability project” to boost organic food production?
1) Jammu and Kashmir
2) Maharashtra
3) Ladakh
4) Manipur
5) SikkimAnswer-1) Jammu and Kashmir
Explanation:
The Government of Jammu and Kashmir (J&K) has initiated a programme “alternate agriculture system for sustainability project” to boost organic food production and increase economic returns for farmers in the Union Territory (UT).
i.The J&K government has allocated Rs 84 crore to support the programmes over the next 5 years. The project is estimated to create around 12600 jobs and 300 enterprises in the organic agri sector.
ii.The project aims to create six to seven organic clusters per district, covering 2,000 hectares of land and converting another 2,000 hectares into organic production, including niche crops and default organic areas.
- Which company recently (in Feb ‘23) signed a contract with the Ministry of Defense (MoD) to procure 41 indigenous modular bridges for the Indian Army’s Corps of Engineers at a cost of over Rs 2,585 crore?
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