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Current Affairs Quiz: 15 May 2020

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AffairsCloud brings you the complete and important daily Current Affairs 15 May 2020 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 2020 updates.

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Questions Based on Current Affairs 15 May 2020

  1. What is the amount that was allocated from PM CARES Fund Trust to fight COVID-19 pandemic?
    1) Rs. 1500 Crore
    2) Rs. 3100 Crore
    3) Rs. 2000 Crore
    4) Rs. 2500 Crore
    5) Rs. 2700 Crore
    Answer-2) Rs. 3100 Crore
    Explanation:
    PM CARES (Prime Minister’s Citizen Assistance and Relief in Emergency Situations) Fund Trust has allocated Rs 3100 crores to fight against COVID-19 pandemic. Out of the total amount around Rs 2000 crores will be allocated for the purchase of ventilators, Rs 1000 crores to care migrant labourers and Rs 100 crores to support vaccine development.

  2. The ICMR has launched the fast-tracked the roll out of the global ‘Solidarity’ trial launched by WHO to help find an effective treatment for COVID-19. Name the ICMR institute which act as national coordination site for the trial in India.
    1) National Institute of Pathology
    2) National Institute of Virology
    3) National AIDS Research Institute
    4) Vector Control Research Centre
    5)National Institute of Epidemiology
    Answer-3) National AIDS Research Institute
    Explanation:
    The Indian Council for Medical Research (ICMR) has fast-tracked the roll out of the global ‘Solidarity’ trial launched by the World Health Organisation (WHO) to help find an effective treatment for COVID-19. The ICMR-National AIDS Research Institute(NARI) is the national coordination site for the trial in India. So far, 9 states have been approved to conduct randomised controlled clinical trials under Solidarity Trial.

  3. Central government has set up a new body Rice Export Promotion Forum (REPF) to promote rice export. The REPF will function under aegis of which body?
    1) CCI
    2) SFEC
    3) APEDA
    4) TRIFED
    5) FICCI
    Answer-3) APEDA
    Explanation:
    Centre set up a new body Rice Export Promotion Forum to give impetus to rice exports under the aegis of Agricultural and Processed Foods Export Promotion Development Authority(APEDA).

  4. Name the Indian state/UT which has planned to provide tap connection to supply water to all rural families by December 2022 under the Jal Jeevan Mission (JJM).
    1) Haryana
    2) Chhattisgarh
    3) Jammu & Kashmir
    4) Both 1) and 2)
    5) Both 1) and 3)
    Answer-5) Both 1) and 3)
    Explanation:
    The Union Territory (UT) Jammu & Kashmir (J&K) and the state Government of Haryana have planned to provide tap connection to supply water to all rural families by December 2022 under the Jal Jeevan Mission (JJM).While the national target has been set for the year 2024-25.

  5. What will be the criteria for “Medium” units as per New definition set for MSME (in terms of investment & turnover)?
    1) 10 crore & 50 crore
    2) 15 crore & 75 crore
    3) 25 crore & 150 crore
    4) 25 crore & 100 crore
    5) 20 crore & 100 crore
    Answer-5) 20 crore & 100 crore
    Explanation:
    Micro Units: Companies with Investments up to Rs 1 crore & Turnover of below Rs 5 crore. Small Units: Companies with investment below Rs 10 crore and turnover under Rs 50 crore. Medium Units: Companies having investment under Rs 20 crore and turnover below Rs 100 crore. As per the proposal, amendments will need to be made in the MSME Development Act of 2006.

  6. Finance Minister Nirmala Sitharaman has announced how much amount of collateral-free emergency credit lineto MSME?
    1) 3 Lakh crore
    2) 2 Lakh crore
    3) 1 Lakh crore
    4) 5 Lakh crore
    5) 10 Lakh crore
    Answer-1) 3 Lakh crore
    Explanation:
    The Government of India is providing Additional working capital finance of 20% of the outstanding credit as on 29 February 2020, in the form of a Term Loan at a concessional rate of interest will be provided. In this regard, 100% guaranteed collateral-free emergency credit line of Rs 3 lakh crore to the micro, small and medium enterprises (MSMEs) with upto Rs 25 crore outstanding and Rs 100 crore turnover, benefitting 45 lakh MSME units. The scheme can be availed till 31st October 2020. Credit line tenor: 4 years Moratorium: 12 months on principal repayment.

  7. The EPF contribution is reduced for businesses and workers for three months to from the existing 12% to ____% for all establishments covered by EPFO.
    1) 11
    2) 10
    3) 9
    4) 8
    5) 6
    Answer-2) 10
    Explanation:
    To provide more take home salary for employees and to give relief to employers, the EPF or Employee Provident Fund contribution is being reduced for businesses and workers for three months to 10% each from the existing 12% for all establishments covered by EPFO. This will provide liquidity of about Rs.2250 Crore per month and Rs 6,750 crores for 3 months. This will provide liquidity relief to 3.67 lakh establishments and for 72.22 lakh employees. Central public sector enterprises (CPSEs) and State PSUs will however continue to contribute 12% as employer contribution. It should be noted that this scheme will be applicable for workers who are not eligible for 24% EPF support under PM Garib Kalyan Package and its extension.

  8. As per the latest report of United Nations World Tourism Organization (UNWTO), what will be the decline % (approx) in international tourism compared to 2019?
    1) 30-60%
    2) 80-90%
    3) 10-15%
    4) 40-50%
    5) 60-80%
    Answer-5) 60-80%
    Explanation:
    According to the latest data of the United Nations World Tourism Organization(UNWTO) the international tourism could decline by 60-80% in 2020 when compared with 2019 figures, due to COVID-19 pandemic outbreakwhich will result in loss of USD 910 billion to USD 1.2 trillion and places millions of livelihoods at risk and threatens to curtail the progress made in advancing the Sustainable Development Goals(SDGs).

  9. According to World Health Organization (WHO)’s Global Nutrition Report 2020, India is one among 88 countries to miss global nutrition targets set by ______.
    1) 2024
    2) 2021
    3) 2022
    4) 2023
    5) 2025
    Answer-5) 2025
    Explanation:
    According to World Health Organization(WHO)’s Global Nutrition Report 2020, India is one among 88 countries to miss global nutrition targets by 2025 & is with highest rates of domestic inequalities in malnutrition. India along with Nigeria & Indonesia are worst in disparities in stunting & the levels varied four-fold across communities.

  10. As per Global Forest Resources Assessment (FRA) 2020, the forest loss rate in 2015-2020 has declined to an estimated 10 million hectares (mha) from 12 mha in 2010-15. Name the organisation which released FRA 2020.
    1) Food and Agriculture Organization
    2) Organization for Economic Cooperation and Development
    3) World Trade Organization
    4) World Health Organization
    5) International Labour Organization
    Answer-1) Food and Agriculture Organization
    Explanation:
    According to the Global Forest Resources Assessment(FRA) 2020 released by the United Nations Food and Agriculture Organization(FAO), the forest loss rate in 2015-2020 has declined to an estimated 10 million hectares(mha), down from 12 mha in 2010-2015.

  11. In which region of the world the largest annual rate of net forest loss in 2010–2020 reported (Net gain highest in Asia)?
    1) Europe
    2) Oceania
    3) Africa
    4) North America
    5) South America
    Answer-3) Africa
    Explanation:
    Among the world’s regions, Africa has the largest annual rate of net forest loss in 2010–2020, at 3.9 mha, followed by South America, at 2.6 mha, whereas Asia has the highest net gain of forest area in 2010–2020, followed by Oceania and Europe.

  12. Name the Indian state which has launched ‘Matir Smristi’ scheme to utilise 50,000-acre barren land in 6 districts for income generating activities.
    1) Jharkhand
    2) Bihar
    3) West Bengal
    4) Odisha
    5) Assam
    Answer-3) West Bengal
    Explanation:
    The West Bengal (WB) Government (govt) launched ‘Matir Smristi’ scheme to utilise 50,000 acres of barren land in 6 districts for income-generating activities like horticulture and pisciculture involving the locals. Chief Minister (CM) Mamata Banerjee also added that the scheme will benefit around 2.5 lakh people in rural Bengal.

  13. Reserve Bank of India has extended the interest subsidy period for exporters under ‘Interest Equalisation Scheme for pre and post shipment Rupee Export Credit’ to which date?
    1) March 31, 2021
    2) December 31, 2020
    3) January 1, 2021
    4) April 1, 2021
    5) June 30, 2020
    Answer-1) March 31, 2021
    Explanation:
    In a bid to provide a considerable relief to the exporters, India’s central bank, the Reserve Bank of India (RBI) has extended the interest subsidy period by one year to 31 March 2021 on export credit received before and after shipment of goods to exporters. Exporters get the subsidy under the ‘Interest Equalisation Scheme for pre and post shipment Rupee Export Credit’, which was ended on March 31, 2020.

  14. Name the private sector bank which has partnered with MoneyGram Payment System for direct-to-bank deposits in India.
    1) IndusInd Bank
    2) UCO Bank
    3) Federal Bank
    4) Axis Bank
    5) ICICI Bank
    Answer-3) Federal Bank
    Explanation:
    MoneyGram Payment System, a subsidiary of MoneyGram International, global leader in P2P payments tied up with Federal Bank Limited, a private bank in India to provide the customers a cost-effective way to receive deposits directly in their bank accounts in India.

  15. What is the United Nations’ estimation of India’s economic growth for Calendar Year 2020?
    1) 3.2%
    2) 0.6%
    3) 0.5%
    4) 1.2%
    5) 1.1%
    Answer-4) 1.2%
    Explanation:
    In the United Nations(UN) World Economic Situation and Prospects(WESP) mid -year report forecast that the COVID-19 pandemic situation will shrink the world economy by 3.2% in 2020 this is the sharpest contraction since the 1930’s Great Depression and India’s economy to grow at 1.2% in 2020.

  16. Name the person who has been awarded with the Vice Admiral G.M. Hiranandani Memorial Rolling Trophy for the year 2020.
    1) A.K. Chawla
    2) Akshay Kumar
    3) Karambir Singh
    4) Ashok Kumar Gupta
    5) Mohit Kumar
    Answer-2) Akshay Kumar
    Explanation:
    Lieutenant Commander Akshay Kumar of the Anti-Submarine Warfare School of the Southern Naval Command (SNC) in Kochi was awarded the Vice Admiral G.M. Hiranandani Memorial Rolling Trophy for the year 2020 by Vice Admiral A.K. Chawla, Flag Officer Commanding-in-chief (FOC-in-C) of the SNC. The award ceremony was held at the Maritime Warfare Centre, Kochi, Kerala.

  17. External Affairs Minister Jaishankar has attended the foreign ministers meet of Shanghai Cooperation Organisation (SCO) hosted by Russia. Where is the HQ of SCO located?
    1) Tokyo
    2) Shanghai
    3) Moscow
    4) Beijing
    5) New Delhi
    Answer-4) Beijing
    Explanation:
    External Affairs Minister(EAM) S.Jaishankar participated in a virtual conference of foreign ministers hosted by Russia from Shanghai Cooperation Organisation(SCO) member states and insisted on the collective action against the terrorism and the security challenges. SCO Headquarters- Beijing,China.

  18. Former Lok Sabha MP, Raja Rangappa Nayak who passed away recently associated with which political party?
    1) INC
    2) JDS
    3) BJP
    4) DMK
    5) TMC
    Answer-2) JDS
    Explanation:
    Former JDS (Janata Dal [Secular]) MP (Member of Parliament), Raja Rangappa Nayak, passed away at the age of 61 in Bengaluru, Karnataka. He had represented the Raichur constituency, Karnataka, & was elected in the Lok Sabha elections held in 1996.

STATIC GK based on Current Affairs

  1. Naku La pass is located in which state?
    1) Punjab
    2) Meghalaya
    3) Nagaland
    4) Arunachal Pradesh
    5) Sikkim
    Answer-5) Sikkim
    Explanation:
    Troops of India and China were involved in a fierce face-off near Naku La Pass in the Sikkim sector of the Sino-India border.

  2. Where is ICMR – National AIDS Research Institute (NARI) located?
    1) Pune
    2) Mumbai
    3) Kolkata
    4) Chennai
    5) Bengaluru
    Answer-1) Pune
    Explanation:
    The National AIDS Research Institute is a research institute, run by Indian Council of Medical Research, the apex body in India for the formulation, coordination and promotion of biomedical research. It was founded in 1992 with the purpose to provide leadership in biomedical research on HIV/AIDS in India. It is located in Pune, Maharashtra.

  3. Where is the HQ of United Nations World Tourism Organization (UNWTO)?
    1) Helsinki
    2) Amsterdam
    3) Tokyo
    4) Bern
    5) Madrid
    Answer-5) Madrid
    Explanation:
    The World Tourism Organization (UNWTO) is the United Nations specialized agency responsible for the promotion of responsible, sustainable and universally accessible tourism. The HQ of UNWTO is located in Madrid, Spain.

  4. Who is the Director General of Food and Agriculture Organisation (FAO)?
    1) Vladimir Norov
    2) Zurab Pololikashvili
    3) QU Dongyu
    4) Tedros Adhanom
    5) Guy Ryder
    Answer-3) QU Dongyu
    Explanation:
    Qu Dongyu is the FAO’s ninth Director-General since the Organization was founded on October 16, 1945. The term of the new Director-General, who will succeed Brazil’s José Graziano da Silva, will start on 1 August 2019 and run to 31 July 2023.

  5. Fund of Funds was first announced in the Union Budget on February 1, 2020 based on the recommendations of which Committee?
    1) Nandan Nilekani
    2) Upendra Kumar Sinha
    3) Usha Thorat
    4) Tapan Roy
    5) UK Sinha
    Answer-2) Upendra Kumar Sinha
    Explanation:
    Government will set up a Fund of Funds (FoF) with a corpus of Rs 10,000 crore that will provide equity funding support for MSMEs. FoF will be operated through a Mother and a few Daughter funds. The fund structure will help leverage Rs 50,000 crore at daughter-fund levels. FoF was first announced in the Union Budget on February 1, 2020 based on the recommendations of Upendra Kumar Sinha Committee. An investment of Rs. 10,000 crore was proposed in the Budget for the scheme. The fund is meant to address the problem of shortage in growth capital for MSMEs The FoF scheme proposes to buy up to 15% equity in MSMEs, with a high credit rating. The scheme was approved by the finance ministry in April, pending Cabinet approval.