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Current Affairs Quiz: 25 February 2023

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AffairsCloud brings you the complete and important daily Current Affairs Quiz 25 February 2023 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 2023 updates.

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  1. As per the Mercom India report, titled ‘2022 Q4 and Annual India solar market update’ released in February 2023, Solar capacity installations in India increased by __________year-on-year to 13 GW in 2022 compared to 10.2 GW installed in 2021.
    1) 23%
    2) 34%
    3) 15%
    4) 36%
    5) 27%
    Answer-5) 27%
    Explanation:
    As per the Mercom India report, titled ‘2022 Q4 and Annual India Solar Market Update’, Solar capacity installations in India increased by 27% year-on-year (y-o-y) to 13 gigawatts (GW) during the calendar year (CY) 2022 compared to 10.2 GW installed in CY 2021.
    i. Solar capacity Installations in 2022 were the highest ever recorded in India. The cumulative solar capacity installed in India was approximately 63 GW at the end of Q4 2022.
    ii. India added 2.6 GW of solar installed in Q4 (October-December) 2022, decreased by 5% from 2.8 GW in 2021, a marginal decrease of 2.5% from 2.7 GW installed in Q3 2022.
    iii. Rajasthan, Karnataka and Gujarat were the top three states for cumulative large-scale solar capacity, accounting for 54% of installations in India as of December 2022.

  2. Which Society of Ministry of Electronics and Information Technology (MeitY) recently (in Feb 23) signed an MoU with CSC Academy to enhance digital literacy and skill development in India?
    1) Centre for Development of Advanced Computing
    2) Centre for Materials for Electronics Technology
    3) National Institute of Electronics and Information Technology
    4) Software Technology Parks of India
    5) Education & Research in Computer Networking
    Answer-3) National Institute of Electronics and Information Technology
    Explanation:
    In February 2023, a Memorandum of Understanding (MoU) has been signed between CSC Academy, a subsidiary of Common Service Centre (CSC) e-Governance Services India Limited, and New Delhi (Delhi)-based National Institute of Electronics and Information Technology (NIELIT) to enhance digital literacy and skill development in India.
    i. NIELIT is affiliated with the Ministry of Electronics and Information Technology (MeitY), and provides training and certification programs in various fields of Information Technology (IT).

  3. The Cabinet Committee on Security (CCS) has recently (in Feb ‘23) approved the construction of the 4.1 km shinkun la tunnel.
    The shinkun la tunnel is the road link of which of the following states/UT?

    1) Ladakh
    2) Himachal Pradesh
    3) Jammu & Kashmir
    4) Both 1 & 2
    5) Both 2 & 3
    Answer-4) Both 1 & 2
    Explanation:
    The Cabinet Committee on Security (CCS) approved the construction of the 4.1 kilometres (km) Shinkun La tunnel on the Nimu (Ladakh) -Padam (Ladakh) -Darcha(Himachal Pradesh) road link to provide all-weather connectivity to the border areas of Ladakh.
    i. The tunnel will be completed at a cost of Rs 1,681 crore by December 2025. An approach will also be built by December 2025.

  4. According to the Associated Chambers of Commerce & Industry of India (ASSOCHAM)-Crisil Ratings report released in February 2023, Assets Under Management (AUM) of Asset Reconstruction Companies (ARCs) is projected to grow __________ in FY23.
    1) 8.2%
    2) 7.9%
    3) 9.8%
    4) 8.0%
    5) 8.9%
    Answer-3) 9.8%
    Explanation:
    According to the Associated Chambers of Commerce & Industry of India (ASSOCHAM)-Crisil Ratings report, Assets Under Management (AUM) of Asset Reconstruction Companies (ARCs) is projected to grow 9.8% in FY23 to Rs 1,19,000 crore after a period of relative stagnation.
    • The AUM stood at Rs 1.09 lakh crore in FY22.
    • The report was released at the ARC seminar organised by ASSOCHAM.
    i. Between fiscal 2014 and 2018, AUM had grown at a steady pace (from Rs 42,000 crore to Rs 95,000 crore), initially driven by the supportive regulatory environment for banks to sell bad assets.

  5. Which of the following Insurance companies has recently (in Feb ‘23) partnered with Policybazaar to launch Unique ‘Health, Wealth and Life Solution’?
    1) HDFC Life Insurance
    2) Niva Bupa Health Insurance
    3) Tata AIA Life Insurance
    4) Both 1 & 2
    5) Both 2 & 3
    Answer-5) Both 2 & 3
    Explanation:
    Policybazaar in partnership with the insurer partners Niva Bupa Health Insurance and Tata AIA Life Insurance Company Limited has developed a new unique solution ‘health, wealth and life solution’ to offer the benefit of health insurance, life insurance as well as return on investment.
    i. The new health + wealth + life offering combines the benefits of ULIP (Unit Linked Insurance Plan) and health insurance, which will provide protection against death and disease as well as enable wealth creation for its customers.

  6. Name the bank that has recently (in Feb ‘23) signed a co-lending agreement with the Moneywise Financial Services Pvt Ltd (MFSPL) for Micro, Small and Medium-Sized Enterprises (MSMEs) loans.
    1) Central Bank of India
    2) Bank of Maharashtra
    3) Union Bank of India
    4) Canara Bank
    5) Punjab National Bank
    Answer-1) Central Bank of India
    Explanation:
    Central Bank of India (CBoI) and Moneywise Financial Services Pvt Ltd (MFSPL), a non-banking financial company, signed a co-lending agreement for lending to micro, small and medium-sized enterprises (MSMEs). The agreement will help both entities to expand their portfolio.
    i. According to the agreement, Moneywise Financial Services will process MSME loan proposals as per jointly formulated credit parameters and eligibility criteria. CBoI will record 80% of the MSME loans on its books under mutually agreed terms.

  7. Name the Indian company that has recently (in Feb ‘23) collaborated with Microsoft Corporation to boost the enterprise cloud transformation journeys worldwide.
    1) HCL Technologies
    2) Tata Consultancy Services
    3) Wipro Limited
    4) Infosys Limited
    5) Larsen & Toubro Infotech Limited
    Answer-4) Infosys Limited
    Explanation:
    Infosys Limited, an Indian multinational information technology company, announced that it will expand its collaboration with Microsoft Corporation, an American multinational technology corporation, to help accelerate enterprise cloud transformation journeys worldwide.
    i. Businesses will benefit from the expanded partnership by receiving the best cloud services from Infosys Cobalt and Microsoft’s cloud computing technologies, headed by Azure, across the business value chain.
    ii. Adopting the cloud improved speed to market and the ability to discover new revenue streams and increased profit growth by up to 11.2% year-over-year (YOY).

  8. Who has been recently (in Feb ‘23) named as the EY Entrepreneur of the Year 2022 India at the 24th EY Entrepreneur of the Year Awards?
    1) Sunil Duggal
    2) Sajjan Jindal
    3) K P Singh
    4) T. V. Narendran
    5) B. L. Agrawal
    Answer-2) Sajjan Jindal
    Explanation:
    Sajjan Jindal, Chairman and Managing Director(CMD) of Mumbai (Maharashtra)-based JSW Group, has been named the EY Entrepreneur of the Year 2022 India at the 24th EY Entrepreneur of the Year™ Awards ceremony held in New Delhi, Delhi.
    i. Sajjan Jindal will now represent India at the EY World Entrepreneur of the Year Award (WEOY) at Monte Carlo, Monaco, in June 2023.
    ii. K P Singh, Chairman Emeritus, DLF Group was honoured with the Lifetime Achievement Award for his pioneering work in architecting the real-estate landscape of India. EY Entrepreneur Of The Year 2022 Category Winners.

  9. When was Central Excise Day 2023 observed across India?
    1) 23rd February 2023
    2) 21st February 2023
    3) 24th February 2023
    4) 20th February 2023
    5) 22nd February 2023
    Answer-3) 24th February 2023
    Explanation:
    The Central Excise Day 2023 observed across India on 24th February 2023 to recognise and acknowledge the efforts and contributions of the Central Board of Indirect Taxes and Customs (CBIC) towards the development of India.
    i. The day also marks the anniversary of the enactment of the Central Excise and Salt Act on 24th February 1944.
    ii. The Objective of Central Excise Day to encourage the CBIC department employees to carry out the duties of central excise across India in a better way in order to prevent corruption in the goods manufacturing business.

  10. In February 2023, Manohar Lal Khattar, Chief Minister of Haryana, presented a tax-free state budget of Rs. ______________ for the Financial Year 2023-24.
    1) Rs 2,78,000 crore
    2) Rs 3,29,600 crore
    3) Rs 4,33,400 crore
    4) Rs 5,20,000 crore
    5) Rs 1,83,950 crore
    Answer-5) Rs 1,83,950 crore
    Explanation:
    Chief Minister of Haryana Manohar Lal Khattar presented a tax-free state budget for financial year 2023-24 (FY24) with an outlay of Rs 1,83,950 crore, an increase of 11.6% from FY23 Budget of Rs 1,64,808 crore.
    • The budget was focused on agriculture, rural development, education, and health. No proposal was imposed for a new tax.
    i. The old-age pension was proposed to be increased from Rs 2,500 to Rs 2,750 per month from April 1, 2023.
    ii. Manohar Lal Khattar announced a proposal of creating a Chief Minister fund for financial support to women startup entrepreneurs or those who come from families with an annual income of up to Rs 1.80 lahks.
    iii. In FY24 for the adoption of natural farming, the government has set a target of 20,000 acres of which demonstrations were planned to be laid out over 6,000 acres.