AffairsCloud brings you the complete and important daily Current Affairs 25 February 2022 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.
- The Government of India celebrated the 3rd anniversary of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme on 24th February 2022.
PM-KISAN scheme comes under which ministry?
1) Ministry of Skill Development & Entrepreneurship
2) Ministry of MSME
3) Ministry of Agriculture & Farmers Welfare
4) Ministry of Health & Family Welfare
5) Ministry of Labour & EmploymentAnswer-3) Ministry of Agriculture & Farmers Welfare
24th February 2022, marks the 3rd anniversary of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme. It was launched on 24th February 2019 by Prime Minister Narendra Modi at Gorakhpur, Uttar Pradesh.
i. It is 100% Funded by the central government under the Ministry of Agriculture and Farmers Welfare (MoAFW) to provide income support to all landholding farmer’s families irrespective of the land size in order to meet their expenses related to agriculture and domestic needs.
ii. Under the Scheme, Farmers will receive an amount of Rs.6000 per year in 3 equal installments of Rs.2000 directly into their bank accounts.
Note- So far, ~1.80 lakh crore rupees have been transferred directly into the bank accounts of the farmer families under the PM -KISAN Scheme.
- In February 2022, Indian Railways and Bharat Heavy Electricals Ltd. commissioned India’s 1st Solar Photovoltaic Plant with a capacity of 1.7MW in ______________.
1) Nagpur, Maharashtra
2) Bina, Madhya Pradesh
3) Amritsar, Punjab
4) Noida, Uttar Pradesh
5) Jodhpur, RajasthanAnswer-2) Bina, Madhya Pradesh
Indian Railways along Bharat Heavy Electricals Limited (BHEL), has successfully commissioned India’s first Solar Photovoltaic Plant of 1.7-MegaWatt (MW) at Bina, Madhya Pradesh. The plant is under extensive testing and will be in operation for Indian Railways.
The solar plant will be directly connected to the overhead traction system and will produce approximately 25 lakh units of energy annually.
i. The installation of the solar plants is to achieve conversion of Indian Railways to ‘Net Zero’ Carbon Emission and ‘Go Green’ by 2030.
ii. Aiming to reduce 2,160 tonnes of carbon dioxide emission every year. iii. Aims to save around Rs 1.37 crore every year.
- Under which portal the Defence Accounts Department (DAD) recently (in Feb ’22) signed an MoU with CSC e-Governance Services India Limited-SPV to onboard pension services across India?
5) DAKSHAnswer-3) SPARSH
Defence Accounts Department (DAD) under the Ministry of Defence has signed an MoU with CSC e-Governance Services India Limited, a special purpose vehicle (SPV) under the Ministry of Electronics and Information Technology(MeitY) to onboard pension services under the System for Pension Administration (SPARSH)-(Raksha) –Initiative across more than 4 lakh CSCs across India.
i. Under this MoU, the last mile connectivity to pensioners, particularly for the pensioners who live in remote areas of India and those who do not have the means or technical resources to log on to SPARSH, will be provided.
ii. SPARSH, an online pension disbursing model, is an initiative of the Defence Ministry that aims to provide a comprehensive solution to the administration of pension to the Defence pensioners.
Note- DAD has also signed an MoU with Kotak Mahindra Bank to set up service centres across 14 branches in the region with high ex-servicemen density.
- In which state the Indian Railway is constructing India’s 1st cable-stayed railway bridge called ‘Anji Khad bridge’ over anji river under Udhampur-Srinagar-Baramulla Rail Link (USBRL) project?
1) Arunachal Pradesh
2) Jammu & Kashmir
4) Himachal Pradesh
5) SikkimAnswer-2) Jammu & Kashmir
India’s first cable-stayed railway bridge called ‘Anji Khad bridge’ (Rs 21,653-crore) is being constructed in Reasi, Jammu and Kashmir (J & K).
i. The under-construction Anji Khad bridge, situated over Anji river, part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project, will connect Katra and Reasi areas through rail links.
ii. The bridge will stand at a height of 331 metres above the river bed – higher than the Eiffel Tower in Paris. The total length of the bridge is 473.25 metres and it is supported by 96 cables.
- Which state/UT became India’s millionaire capital with 20,300 millionaire households according to Hurun India Wealth Report 2021?
1) Bengaluru, Karnataka
2) Hyderabad, Telangana
3) Mumbai, Maharashtra
4) Kolkata, West Bengal
5) Delhi, New DelhiAnswer-3) Mumbai, Maharashtra
According to Hurun India Wealth Report 2021, Maharashtra’s Mumbai became India’s millionaire capital, with 20,300 millionaire’s households. It is followed by Delhi and Kolkata with 17,400 and 10,500 millionaire households, respectively.
i. The number of dollar-millionaire households in India increased by 11% to 4,58,000 households compared to 2020. The report was released by Hurun Report.
ii. The number of Indian dollar millionaire households is estimated to increase by 30% over the next five years and the number will reach up to 6,00,000 households by 2026.
iii. The Hurun Research Institute surveyed 350 Indian ‘millionaires’, individuals with a personal wealth of $1 million (or about Rs 7 crore).
- Which of the following points are not correct with respect to the Core Financial Services Solution (CFSS) as of February 2022?
1) RBI directed certain NBFCs to mandatorily implement CFSS by 30th September 2025.
2) NBFCs Middle Layer & Upper-Layer with 10 & more ‘fixed point service delivery units’ as of 1st October 2022 to implement CFSS by 30th September 2025.
3) NBFC – Upper Layer should implement CFSS at least in 40 percent of ‘fixed point service delivery units’ on or before 30th March 2023.
4) The implementation of CFSS is not mandatory in NBFC – Base Layer and NBFC – Middle and Upper Layers with fewer than 10 fixed point service delivery units.
5) CFSS will provide a customer interface in digital offerings and transactions relating to products and services by enabling integration of NBFC functions.Answer-3) NBFC – Upper Layer should implement CFSS at least in 40 percent of ‘fixed point service delivery units’ on or before 30th March 2023.
RBI directed certain NBFCs to mandatorily implement CFSS by 30th September 2025.
• NBFCs – Middle Layer & Upper-Layer with 10 and more ‘fixed point service delivery units’ as of 1st October 2022 to implement CFSS by 30th September 2025.
• NBFC – Upper Layer should implement CFSS at least in 70 percent of ‘fixed point service delivery units’ on or before September 30, 2024.
• The implementation of CFSS is not mandatory in NBFC – Base Layer and NBFC – Middle and Upper Layers with fewer than 10 fixed point service delivery units.
• CFSS is similar to the Core Banking Solution adopted by banks and to provide customer interface in digital offerings and transactions relating to products and services by enabling integration of NBFCs’ functions
Note- In October 2021, RBI introduced the ‘Scale Based Regulation’ (SBR) framework for NBFCs and mandated NBFCs with 10 and more branches to adopt Core Banking Solution with effect from October 01, 2022.
- As per the India Ratings and Research (Ind-Ra), India’s GDP growth was revised downwards to __________ from the consensus 9.2% earlier for FY22.
5) 8.4%Answer-2) 8.6%
India Ratings and Research (Ind-Ra) has revised downwards its GDP (Gross Domestic Product) growth forecast of the Indian economy for 2021-22 to 8.6% from the consensus 9.2% projected earlier.
i. IRR estimates Q1 and Q2 of FY22 may decline by 90-110 basis points than estimated earlier and the Q3 and Q4 may come in at 5.6% and 5.1%, respectively, down from 6% and 5.7% estimated earlier.
ii. The major reason for this downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022.
iii. As per it, the National Statistical Organization (NSO) will likely peg the FY22 real GDP growth at Rs 147.2 lakh crore i.e. 8.6% in its second advance estimate of national income. NSO forecasted 9.2% in the first advance estimate released on January 7, 2022.
- In February 2022, Moody’s Investors Service raised India’s GDP growth forecast to______ from an earlier projection of 7% for FY 22.
5) 8.5%Answer-4) 9.5%
Moody’s Investors Service raised India’s Gross Domestic Product (GDP) growth forecast to 8.4 percent for FY23 and 9.5 percent for 2022 though higher oil prices and supply issues will reflect in growth.
i. It also estimated that the GDP growth forecast for 2023 stands at 5.5 percent and 6.5 percent for FY24 (1st April 2023 – 31st March 2024).
ii. Earlier they had projected the growth for 2022 as 7 percent.
Other projections – Moody’s collective estimation of the G-20 economies shows reduced estimates of 4.3 percent in 2022 from 5.9 percent in 2021.
- Which Institute recently (in Feb ’22) tested India’s 1st Quantum Key Distribution (QKD) Technology in Prayagraj & Vindhyachal of Uttar Pradesh along with Defence Research and Development Organisation (DRDO)?
5) IIT-MadrasAnswer-4) IIT-Delhi
The Defence Research and Development Organisation (DRDO), in collaboration with the Indian Institute of Technology (IIT), Delhi for the 1st time successfully demonstrated India’s indigenous technology, Quantum Key Distribution (QKD) link between Prayagraj, Uttar Pradesh (UP) and Vindhyachal, UP, a distance of more than 100 kilometres (km).
i. It is developed by the Centre for Artificial Intelligence and Robotics (CAIR), Bengaluru, and Mumbai-based DRDO Young Scientists’ Laboratory– Quantum Technology (DYSL-QT).
- Every year Central Excise Day is observed across India on ____________ to honour the contributions of the Central Board of Indirect Taxes and Customs.
1) 22nd February
2) 20th February
3) 24th February
4) 21st February
5) 23rd FebruaryAnswer-3) 24th February
The Central Excise Day is annually observed across India on 24th February to honour the contributions of the Central Board of Indirect Taxes and Customs (CBIC), a part of the Department of Revenue under the Ministry of Finance.
i. The day also commemorates the anniversary of the enactment of the Central Excise and Salt Act on 24th February 1944.
ii. The day is annually organized and celebrated by the CBIC.