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Current Affairs Quiz: 26 August 2020

AffairsCloud brings you the complete and important daily Current Affairs 26 August 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 26 August 2020

  1. Union minister for Road Transport and Highways, Nitin Gadkari has inaugurated 45 new highway projects in which state recently?
    1) Maharashtra
    2) Madhya Pradesh
    3) Uttar Pradesh
    4) Gujarat
    5) West Bengal
    Answer-2) Madhya Pradesh
    Explanation:
    Nitin Jairam Gadkari, Union Minister for Road Transport and Highways inaugurated and laid foundation stones for 45 highway projects in Madhya Pradesh (MP) during a virtual event. He also announced that Rs.700 crores from the Central Road Fund (CRF) will be utilised for the road sector of Madhya Pradesh.

  2. Name the person who headed the NITI Aayog task force which recommended linking of Sugarcane prices to sugar rate.
    1) Padmavathi Ravi
    2) Ravindra Pratap Singh
    3) V.K. Saraswat
    4) Ramesh Chand
    5) V.K. Paul
    Answer-4) Ramesh Chand
    Explanation:
    The final report of the NITI (National Institution for Transforming India) Aayog Task Force headed by Ramesh Chand, NITI Aayog Member(Agriculture), “Sugarcane and Sugar Industry” recommended linking of Sugarcane prices to sugar rate to maintain the financial state and stability of the industry and to clear the arrears of the sugarcane farmers. This report of the task force was finalized in March 2020 and published on August 20. To support the sugar mills with the cost of production, including the interest and maintenance cost the report recommends a onetime increase in the minimum sugar price to Rs.33 per kilogram.

  3. Indian government has signed $500 million loan agreement with which bank to improve quality & safety of Mumbai’s suburban railway system?
    1) Asian Infrastructure Investment Bank (AIIB)
    2) New Development Bank (NDB)
    3) Asian Development Bank (ADB)
    4) World Bank (WB)
    5) None of these
    Answer-1) Asian Infrastructure Investment Bank (AIIB)
    Explanation:
    A loan agreement was inked between the Government of India, the Government of Maharashtra, Mumbai Railway Vikas Corporation (MRVC) and the Asian Infrastructure Investment Bank (AIIB) for Mumbai Urban Transport Project-III. The agreement aims to improve the network capacity, reduction in journey time and fatal accidents of commuters, service quality and safety of the suburban railway system in Mumbai, Maharashtra. The total estimated cost of the project is $997 million, of which $500 million will be financed by the AIIB, $310 million by the Government of Maharashtra and $187 million by the Ministry of Railways. The loan from the AIIB has a 5-year grace period and a maturity of 30 years.

  4. Find the organization which has launched a debt and credit guarantee product ‘Structured Finance and Partial Guarantee Programme to NBFC-MFIs’ (signed a pact with Vivriti Capital and Ujjivan Small Finance Bank).
    1) Reserve Bank of India (RBI)
    2) Insurance Regulatory Development Authority of India (IRDAI)
    3) Competition Commission of India (CCI)
    4) National Bank for Agriculture & Rural Development (NABARD)
    5) Securities and Exchange Board of India (SEBI)
    Answer-4) National Bank for Agriculture & Rural Development (NABARD)
    Explanation:
    The National Bank for Agriculture and Rural Development (NABARD) has introduced, ‘Structured Finance and Partial Guarantee Program for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)’, a dedicated debt and credit guarantee product to ensure uninterrupted flow of credit to the last mile in rural areas hit by the COVID-19 pandemic. NABARD has signed a pact with Vivriti Capital and Ujjivan Small Finance Bank on 14 August 2020 to introduce the initiative, which will enhance sustainable finance access to microenterprises and low-income households.

  5. Which is 1st bank in India to use satellite data to access credit worthiness of farmers?
    1) ICICI Bank
    2) Indian Bank
    3) HDFC Bank
    4) State Bank of India
    5) Canara Bank
    Answer-1) ICICI Bank
    Explanation:
    ICICI Bank uses satellite data (imagery from Earth observation satellites) to assess credit worthiness of farmers. ICICI Bank has become the 1st bank in India to use such a technique to measure an array of parameters related to the land, irrigation and crop patterns and use it in combination with demographic and financial parameters to make quick lending decisions for farmers.

  6. Name the company which has partnered with Goals101.ai to create targeted and personalized offers for customers.
    1) Chase
    2) Visa
    3) Mastercard
    4) Rupay
    5) American Express
    Answer-3) Mastercard
    Explanation:
    Mastercard has entered into an alliance with Goals101.ai, the leading bank-tech and Artificial Intelligence(AI) company. Through this alliance, Goals101.ai connects merchants and issuers using big data, AI and automation to create targeted and personalized offers for Bank cardholders. This helps banks to improve their communications performance and makes the banking experience more personalized, real-time and relevant for their customers. Through this partnership, Mastercard and Goals101.ai will launch a section within the platform called ‘For You’ which will unify all the bank channels and properties into one.

  7. Which general insurance company has launched the first of its kind ‘Shagun – Gift an Insurance’ policy recently?
    1) IFFCO Tokio General Insurance Company
    2) HDFC ERGO General Insurance Company
    3) United India General Insurance Company
    4) Oriental Insurance Company
    5) SBI General Insurance Company
    Answer-5) SBI General Insurance Company
    Explanation:
    SBI General Insurance Co Ltd launched a 1st of its kind offering, ‘Shagun – Gift an Insurance’, a unique gift of Personal Accident policy which provides complete financial protection to the insured person against uncertainties such as accidental death and partial or total disabilities, and permanent & temporary disabilities resulting from an accident.

  8. Which company has partnered with NITI Aayog’s Women Entrepreneurship Platform (WEP) to support women entrepreneurs in India?
    1) Mphasis
    2) Tech Mahindra
    3) Tata Consultancy Services
    4) HCL Technologies
    5) MindTree
    Answer-2) Tech Mahindra
    Explanation:
    IT (Information Technology) services major Tech Mahindra joined hands with NITI (National Institution for Transforming India) Aayog’s Women Entrepreneurship Platform (WEP) to support Indian women entrepreneurs. In this regard, Tech Mahindra has partnered with the winners of Women Transforming India (WTI) Awards, to provide mentorship. WTI awards is an initiative of the WEP to recognise women leaders in entrepreneurship across various sectors like healthcare and life sciences, agritech and education, among others.

  9. Multi-Commodity Exchange of India (MCX) has launched India’s first real-time bullion index named MCX iCOMDEX Bullion or Bulldex. Where is the HQ of MCX located?
    1) Kolkata
    2) Gurugram
    3) New Delhi
    4) Mumbai
    5) Bengaluru
    Answer-4) Mumbai
    Explanation:
    Multi-Commodity Exchange of India Ltd (MCX), India’s first listed, national-level, electronic exchange, launched futures trading on the country’s first tradeable real-time bullion index, MCX iCOMDEX Bullion, or Bulldex. The index will track the real-time performance of the gold (1kg) and silver (30kg) futures contracts, the flagship future products on the Exchange. Multi-Commodity Exchange of India Ltd: Headquarters-Mumbai, Maharashtra.

  10. Which organization has signed MoU with AFC India and National Cooperative Union of India (NCUI) for cooperation in interest of agriculture sector?
    1) Tribal Cooperative Marketing Development Federation of India (TRIFED)
    2) Indian Farmers Fertiliser Cooperative (IFFCO)
    3) Confederation of Indian Industry (CII)
    4) Agricultural and Processed Food Products Export Development Authority (APEDA)
    5) Federation of Indian Chambers of Commerce and Industry (FICCI)
    Answer-4) Agricultural and Processed Food Products Export Development Authority (APEDA)
    Explanation:
    Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, has signed two MoUs (Memorandum of Understanding) one each with AFC ((formerly Agricultural Finance Corporation Ltd) India Limited, and National Cooperative Union of India (NCUI), Delhi for working together in the interest of agriculture and allied sectors.

  11. Which state government has signed MoU with Micro Tek new technologies to set up electronics manufacturing unit in the state (August 2020)?
    1) Himachal Pradesh
    2) Arunachal Pradesh
    3) Maharashtra
    4) Gujarat
    5) Chhattisgarh
    Answer-1) Himachal Pradesh
    Explanation:
    The Government of Himachal Pradesh (HP) has signed a Memorandum of Understanding (MoU) worth Rs110 Crores with Micro Tek New Technologies Private Ltd for setting up an Electronics Manufacturing Unit at Baddi, Solan District, Himachal Pradesh. The MoU was signed by Director of Industries, Himachal Pradesh, Hans Raj Sharma and Subodh Gupta, Chairman of MicroTek New Technologies Private Ltd.

  12. ReNew power has collaborated with which organization to increase access to clean energy?
    1) United Nations Environment Programme (UNEP)
    2) International Labour Organization (ILO)
    3) United Nations Industrial Development Organization (UNIDO)
    4) United Nations Development Programme (UNDP)
    5) United Nations Educational, Scientific and Cultural Organization (UNESCO)
    Answer-1) United Nations Environment Programme (UNEP)
    Explanation:
    ReNew Power and the United Nations Environment Programme (UNEP) have signed a partnership agreement to promote increased access to renewable energy and improved energy efficiency. This Memorandum of Understanding (MoU) is a part of progressive strategies that India has adopted to realize its Nationally Determined Contributions (NDC) under the Paris Agreement.

  13. G Satheesh Reddy has got 2-year extension as the chairman of which organization?
    1) Centre for Development of Advanced Computing (CDAC)
    2) Defence Research and Development Organisation (DRDO)
    3) Indian Space Research Organisation (ISRO)
    4) National Informatics Centre (NIC)
    5) National Development Centre (NDC)
    Answer-2) Defence Research and Development Organisation (DRDO)
    Explanation:
    Renowned Aerospace Scientist G. Satheesh Reddy was given a two-year extension as Chairman of the Defence Research and Development Organisation (DRDO) & as Secretary of the Department of Defence Research & Development(DoDRD) by the Appointments Committee of the Cabinet. G Satheesh Reddy was appointed to the post in August 2018 for a tenure of two years.

  14. Who has been resigned from the post as MD & CEO of Indian Energy Exchange (IEX)?
    1) Ajay Tyagi
    2) Girish Chandra Chaturvedi
    3) Sethurathnam Ravi
    4) Satyanarayan Goel
    5) Rajiv Srivastava
    Answer-5) Rajiv Srivastava
    Explanation:
    Board of Directors of Indian Energy Exchange(IEX) accepted the resignation of its Managing Director(MD) and Chief Executive Officer(CEO) Rajiv Srivastava. He was relieved from his position as MD & CEO with immediate effect from 24th August 2020. Satyanarayan Goel was given additional charge as the interim MD&CEO of IEX.

  15. Name the Indian who has bagged the first-ever gold for India in Mental Calculation World Championship (August 2020).
    1) Neelakantha Bhanu Prakash
    2) Granth Thakkar
    3) Rhea Shah
    4) Priyanshi Somani
    5) None of the Above
    Answer-1) Neelakantha Bhanu Prakash
    Explanation:
    Neelakantha Bhanu Prakash Jonnalagadda of Hyderabad has bagged the first ever Gold Medal for India in Mental Calculations (MC) World Cup (MCWC) held on August 15, 2020 by Mind Sports Olympiad (MSO). Neelakantha Bhanu Prakash is a student of Mathematics (Honors) at Delhi University’s St Stephen College and holds 4 World Records and 50 Limca records for being the fastest human calculator in the world.

  16. Axis bank plans to acquire _____ equity share capital in Max Life Insurance.
    1) 12%
    2) 13%
    3) 15%
    4) 17%
    5) 16%
    Answer-4) 17%
    Explanation:
    Axis Bank Ltd (Axis Bank) to acquire 17% (17.002%) of the equity share capital in Max Life Insurance (Max Life), instead of 29%. After the transaction, the total ownership of Axis bank in Max Life will be 18%. The parties have executed definitive agreements. Axis Bank and Max Life will approach the respective regulatory authorities, with revised applications for their consideration and approval.

  17. India’s first multi-wavelength satellite observatory, ‘ASTROSAT’ has detected an UV light from “AUDFs01” galaxy recently. The study was published in which journal?
    1) New Astronomy
    2) Journal Nature
    3) Astronomy and Astrophysics
    4) Astrophysical Journal
    5) Nature Astronomy
    Answer-5) Nature Astronomy
    Explanation:
    In accordance with the Inter-University Centre for Astronomy and Astrophysics (IUCAA) in Pune, Maharashtra, India’s first multi- wavelength satellite observatory, ASTROSAT, has detected an extreme ultraviolet (UV) light from a galaxy called “AUDFs01” which is 9.3 billion light-years away from Earth. The galaxy is located in the Hubble Extreme Deep field (XDF). The study is published in “Nature Astronomy”.

  18. Which railway station has introduced baggage sanitization and wrapping machine recently?
    1) Mangalore Railway station
    2) Kanpur Railway station
    3) Ahmedabad Railway station
    4) Chennai Railway station
    5) Mumbai Railway station
    Answer-3) Ahmedabad Railway station
    Explanation:
    Ahmedabad Railway Division launched the Baggage Sanitization and Wrapping Machine at the Ahmedabad Railway station to ensure safe travel for the passengers during the Pandemic. The Ahmedabad Railway Division has introduced the machine after considering the increase in transport and travel services after Unlock-1 Phase.

  19. The students of which IIT has discovered ‘2020 QG’, the closest known asteroid to fly by Earth?
    1) IIT Delhi
    2) IIT Madras
    3) IIT Bombay
    4) IIT Guwahati
    5) IIT Calcutta
    Answer-3) IIT Bombay
    Explanation:
    On August 16, an SUV-sized asteroid soared just 2,950 km above the surface of Earth. IIT Bombay students Kunal Deshmukh and Kritti Sharma, working on a research project, discovered this object just hours later using data from the robotic Zwicky Transient Facility (ZTF) in California. Designated 2020 QG, it is the closest-known asteroid to fly by Earth without impacting the planet. The previous known record-holder is asteroid 2011 CQ1, discovered by the Catalina Sky Survey in 2011.

  20. Who authored the book titled ‘Running Toward Mystery: The Adventure of an Unconventional Life’?
    1) Tenzin Priyadarshi
    2) Zara Houshmand
    3) Monika Arora
    4) Both 1) and 2)
    5) Both 1) and 3)
    Answer-4) Both 1) and 2)
    Explanation:
    The book ‘Running Toward Mystery: The Adventure of an Unconventional Life’ authored by Tenzin Priyadarshi and co-written by Zara Houshmand released. The book provides an account of how the Dalai Lama traced his Spiritual Teacher Khunu Lama in India.

  21. Pascal Lissouba who passed away in August 2020 is the former president of which country?
    1) Burundi
    2) Rwanda
    3) Congo
    4) Ethiopia
    5) Zambia
    Answer-3) Congo
    Explanation:
    Pascal Lissouba, former President of Republic of Congo, which is also known as Congo-Brazzaville passed away at the age of 88 in Southern France due to illness. He was born in Tsinguidi, Republic of Congo. He belonged to the Pan-African Union for Social Democracy (UADS) party.

  22. World Gujarati day was observed annually on August 24 to commemorate the birth anniversary of whom?
    1) Raghuveer Chaudhari
    2) Dinkar Joshi
    3) Dhumketu
    4) Ashwini Bhatt
    5) Narmadashankar Dave
    Answer-5) Narmadashankar Dave
    Explanation:
    24th August is celebrated as World Gujarati Day to commemorate the birth anniversary of the famous Gujarati poet and social reformer, Narmadashankar Dave popularly known as Veer Narmad. The world Gujarati day is dedicated to the Gujarati language and literature.

  23. Name the mobile app which was launched by Indian Air Force?
    1) Proud IAF
    2) IAF Duty
    3) My IAF
    4) Bharat IAF
    5) None of the Above
    Answer-3) My IAF
    Explanation:
    Indian Air Force (IAF) Chief of the Air Staff (CAS) Air Chief Marshal (ACM)Rakesh Kumar Singh Bhadauria, launched the mobile application “My IAF”, to provide career related information and details in IAF to the aspirants. The application was launched as a part of the ‘Digital India Initiative’. It was developed in association with the Centre for Development of Advanced Computing (C-DAC).

STATIC GK based on Current Affairs

  1. Modhera sun temple is located in which state?
    1) Haryana
    2) Punjab
    3) Maharashtra
    4) Gujarat
    5) Uttar Pradesh
    Answer-4) Gujarat
    Explanation:
    Prime Minister Narendra Modi on 26th August, 2020 shared mesmerizing visuals of the iconic Sun Temple in Gujarat’s Modhera. Taking to Twitter, Modi posted the video of the “splendid” view. Dedicated to the solar deity Surya, located in Modhera village of Mehsana, the temple is situated on the bank of the river Pushpavati.

  2. Dal Lake is located in which state/UT?
    1) Gujarat
    2) Himachal Pradesh
    3) Meghalaya
    4) Jammu & Kashmir
    5) Chandigarh
    Answer-4) Jammu & Kashmir
    Explanation:
    With an aim to increase the speed of cleaning of Dal Lake, the Jammu & Kashmir Lakes and Waterways Development Authority (LAWDA) has procured new high-tech machines through the Delhi Metro Rail Corporation (DMRC). The indigenous machines have been procured on the advice of a committee of experts. The equipments, worth around Rs 4 crore, include a high capacity de-weeding machine to extract and remove up to 500 tons of lily weeds daily.

  3. Pin Valley national park is located in which state?
    1) Himachal Pradesh
    2) Arunachal Pradesh
    3) Maharashtra
    4) Gujarat
    5) Chhattisgarh
    Answer-1) Himachal Pradesh
    Explanation:
    Pin Valley National Park is a National park of India located within the Lahaul and Spiti district, in the state of Himachal Pradesh.

  4. Where is the headquarters of Indian Energy Exchange (IEX) located?
    1) Hyderabad
    2) Mumbai
    3) New Delhi
    4) Kochi
    5) Patna
    Answer-3) New Delhi
    Explanation:
    The headquarters of Indian Energy Exchange (IEX) located at New Delhi.

  5. The headquarters of Ujjivan Small Finance Bank is located at which city?
    1) Bengaluru
    2) Chennai
    3) Jaipur
    4) Jodhpur
    5) Surat
    Answer-1) Bengaluru
    Explanation:
    The headquarters of Ujjivan Small Finance Bank is located at Bengaluru, Karnataka.