Current Affairs Quiz: 26 February 2022

AffairsCloud brings you the complete and important daily Current Affairs 26 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.

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Top 10 Questions Based on Current Affairs 26 February 2022

1. In February 2022, the government of India approved the continuation of the Immigration Visa Foreigners Registration Tracking (IVFRT) Scheme till _____________ with an outlay of 1,364.88 crores.
   1) 30th April, 2025
   2) 31st March, 2026
   3) 30th June, 2024
   4) 31st January, 2026
   5) 30th, March 2024

   Answer & Explanation

   Answer-2) 31st March, 2026
   Explanation:
   The Government of India (GoI) has approved for the continuation of the Immigration Visa Foreigners Registration Tracking (IVFRT) Scheme for a period of five years from April 1, 2021 to March 31, 2026 with an outlay of ₹1,364.88 crores.
   i. In order to Modernize and upgrade the Immigration services, “Immigration, Visa and Foreigners Registration & Tracking (IVFRT)” has been identified and included as one of the MMPs to be undertaken by the Ministry of Home Affairs under the National e-Governance Plan (NeGP).
   Aim And Objective of IVFRT:
   • The aim is to provide a secure and integrated service delivery framework that facilitates legitimate travellers by strengthening national security.
   • The main objective for the continuation of IVFRT is the modernization and up-gradation of Immigration and Visa services.
   
   
2. Which of the following points are correct with respect to the Delhi cabinet approval in February 2022?
   1) The Delhi Cabinet has approved to set up India’s 1st ‘electronic-waste eco-park’ which will recycle, refurbish and dismantle e-waste in a scientific and safe way.
   2) Delhi Government also announced the framing of Delhi Film Policy 2022 to make the city a brand for shooting locations and to promote tourism.
   3) The government is to create an ‘e-Film Clearance Portal’ and provide an aid of Rs.3 crores for film production.
   4) Both 1 & 2
   5) All 1, 2 & 3

   Answer & Explanation

   Answer-5) All 1, 2 & 3
   Explanation:
   The Delhi Cabinet has approved to set up India’s 1st ‘electronic-waste eco-park’ which will recycle, refurbish and dismantle e-waste in a scientific and a safe way.
   i. Delhi Government also announced the framing of Delhi Film Policy 2022 to make the city a brand for shooting locations and to promote tourism.
   ii. The government is to create an ‘e-Film Clearance Portal’ and provide an aid of Rs.3 crores for film production.
   Four objectives of Delhi Film policy 2022–
   • Association of the people of Delhi with the policy,
   • Making the national capital a brand for shooting location,
   • Turning the city into a hub for the production of domestic &
   • international films Create jobs for the people.
   
   
3. In February 2022, the Securities and Exchange Board of India (SEBI) extended the deadline for Client Level Segregation of Funds and Monitoring of Collateral at Stock Brokers to ___________ from February 28, 2022.
   1) 2nd July, 2022
   2) 30th June, 2022
   3) 1st April, 2022
   4) 2nd May, 2022
   5) 30th March, 2022

   Answer & Explanation

   Answer-4) 2nd May, 2022
   Explanation:
   The Securities and Exchange Board of India (SEBI) extended the deadline for the implementation of Client Level Segregation of Funds and Monitoring of Collateral at Stock Brokers to May 2, 2022 from February 28, 2022.
   i. This is the second time SEBI has extended the deadline for these rules. Earlier, it was supposed to be implemented from December 1, 2021.
   ii. The guidelines on client-level segregation were notified in 2021 by SEBI amid instances of misuse of client collateral by brokers.
   
   
4. Which bank recently (in Feb’22) signed an agreement with National Hydropower Generation Company (NHPC) to Monetise RoE of 540 MW Chamera-I Power Plant in Himachal Pradesh for 10 years?
   1) HDFC Bank
   2) IndusInd Bank
   3) YES Bank
   4) Axis Bank
   5) ICICI Bank

   Answer & Explanation

   Answer-1) HDFC Bank
   Explanation:
   National Hydropower Generation Company (NHPC) limited signed a facility agreement with HDFC bank to secure return on equity (RoE) of its 540 MegaWatt (3 X 180 MegaWatt) Chamera-I Power Plant in Himachal Pradesh for 10 years.
   i. The facility agreement complies with the Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015
   ii. The amount of securitization facility has arrived Rs. 1,016.39 crore at 5.24% per annum and the discounting rate is linked with 3 months Treasury bills (T-Bills).
   
   
5. Name the bank that recently (in Feb’22) entered into Bancassurance Partnership with Star Health and Allied Insurance Ltd. to Offer Health Insurance to its customers.
   1) Axis Bank
   2) South Indian Bank
   3) CSB Bank
   4) ICICI Bank
   5) YES Bank

   Answer & Explanation

   Answer-2) South Indian Bank
   Explanation:
   South Indian Bank (SIB) has joined hands with Star Health and Allied Insurance Company Limited as a corporate agent to provide innovative health insurance products for the SIB’s ~6.5 million customers spread over 923 branches across India.
   i. The partnership will enable the South Indian Bank customers to financially safeguard themselves from rising healthcare costs.
   
   
6. Which company’s certificate of registration was recently (in Feb’22) cancelled by RBI due to complaints against usurious rate of Interest and unfair recovery practices by digital lenders?
   1) PC Financial Services Pvt. Ltd.
   2) Anik Financial Services Pvt. Ltd.
   3) South India Finvest Pvt. Ltd.
   4) G U Financial Services Pvt. Ltd.
   5) Prayas Financial Services Pvt. Ltd.

   Answer & Explanation

   Answer-1) PC Financial Services Pvt. Ltd.
   Explanation:
   The Reserve Bank of India (RBI) announced that it had cancelled the certificate of registration that was issued to PC Financial Services Private Limited, Delhi which uses an app called Cashbean to carry out the lending operations.
   i. The action was taken under Section 45-IA (6) (iv) of the Reserve Bank of India Act, 1934.
   ii. The regulatory action has been taken due to an increase in complaints against usurious rate of interest and unfair recovery practices being followed by several digital lenders.
   iii. The company has also violated Know Your Customer (KYC) norms and was also found to be charging usurious rates of interest and other charges to its borrowers in an illegal manner and it was also using the RBI and the Central Bureau of Investigation (CBI) logos for recovery from borrowers in violation of the Fair Practices Code.
   
   
7. Who recently (in Feb’22) got reappointed as the Managing Director and Chief Executive Officer (MD&CEO) of IDBI Bank for the term of 3 years with an effect from 19th March, 2022?
   1) M R Kumar
   2) Rakesh Sharma
   3) Samuel Joseph Jebaraj
   4) Meera Swarup
   5) Anshuman Sharma

   Answer & Explanation

   Answer-2) Rakesh Sharma
   Explanation:
   The IDBI Bank reappointed Rakesh Sharma as the Managing Director and Chief Executive Officer (MD&CEO) of the bank for the term of three years, effective March 19, 2022.
   i. He was initially appointed as the MD&CEO of the bank in October 2018.
   ii. The re-appointment is based on the approval of the Reserve Bank of India.
   
   
8. Who recently (in Feb’22) got elected to the Board of Directors of the National Cooperative Dairy Federation of India (NCDFI)?
   1) Meenesh Shah
   2) Mangal Jit Rai
   3) Vinayakrao D Patil
   4) Rajesh N Parjane
   5) K S Mani

   Answer & Explanation

   Answer-5) K S Mani
   Explanation:
   K S Mani, Chairman of Kerala Co-operative Milk Marketing Federation (KCMMF), known by its brand name ‘Milma’ has been elected to the Board of Directors of the National Cooperative Dairy Federation of India (NCDFI) based at Anand, Gujarat.
   i. NCDFI is the apex body of dairy and edible oil cooperatives in India. The election was held at the Special General Body meeting of the NCDFI, held at Anand, Gujarat
   
   
9. Name the company that recently (in Feb’22) got approved by CCI to acquire a stake in ISMT Limited under the Section 5(a) of the Competition Act, 2002.
   1) Aamvi Global Ferrous Private Ltd
   2) Hindalco Industries Ltd
   3) Shubh Ferrous Private Ltd
   4) Hindustan Zinc Ltd
   5) Kirloskar Ferrous Industries Ltd

   Answer & Explanation

   Answer-5) Kirloskar Ferrous Industries Ltd
   Explanation:
   The Competition Commission of India (CCI) has approved the acquisition of stakes in ISMT Limited by Kirloskar Ferrous Industries Limited, a flagship company of Kirloskar Group.
   i. The Proposed Combination is notifiable under Section 5(a) of the Competition Act, 2002.
   ii. Under this combination, Kirloskar Ferrous Industries seeks to acquire up to 51.25% of the EmergingVoting Capital of the ISMT and will acquire up to 76.3% of the Emerging Voting Capital of the ISMT.
   
   
10. Which ministry recently (in Feb’22) developed the ‘Ombudsperson App’ for MGNREGA to ensure transparency of e-governance?
    1) Ministry of Skill Development & Entrepreneurship
    2) Ministry of Health & Family Welfare
    3) Ministry of Rural Development
    4) Ministry of Housing & Urban Affairs
    5) Ministry of Labour & Employment

    Answer & Explanation

    Answer-3) Ministry of Rural Development
    Explanation:
    Union Minister for Rural Development and Panchayati Raj Giriraj Singh launched the ‘Ombudsperson App’ for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), a step towards e-governance for ensuring transparency and accountability.
    i. The Ombudsperson App has been developed by the ‘Ministry of Rural Development.
    ii. The app has been developed for smooth reporting and categorization of grievances by Ombudsperson based on complaints from various sources viz. physical, digital and mass media, related to the implementation of the MGNREGA scheme in the States/ Union Territories (UTs).