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Current Affairs Quiz: 29 May 2020

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AffairsCloud brings you the complete and important daily Current Affairs 29 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 29 May 2020

  1. What is the interest rate of savings bonds scheme (RBI Bonds or GOI bonds) that was withdrawn by government due to declining interest rates?
    1) 8%
    2) 8.15%
    3) 6.90%
    4) 7.75%
    5) 7.40%
    Answer-4) 7.75%
    Explanation:
    Government has ceased the 7.75% Savings (Taxable) Bonds scheme commonly known as RBI (Reserve Bank of India) Bonds or GOI (Government of India) bonds for subscription due to the declining interest rates as RBI has lowered the short-term lending (repo) rate which is currently at 4%. It should be noted that these bonds offered a higher interest rate as compared to bank fixed deposits and other financial investment instruments offering equal degree of safety.

  2. Central Institute of Plastics Engineering & Technology (CIPET) under Ministry of Chemicals and Fertilizers was renamed as Central Institute of Petrochemicals Engineering and Technology recently. Where is HQ of CIPET located?
    1) Bengaluru
    2) Chennai
    3) Mumbai
    4) Kolkata
    5) New Delhi
    Answer-2) Chennai
    Explanation:
    Central Institute of Plastics Engineering & Technology (CIPET) was renamed as Central Institute of Petrochemicals Engineering and Technology. CIPET is a premier national institution under the Ministry of Chemicals and Fertilizers, Government of India (GOI). About CIPET: Headquarters– Guindy, Chennai, Tamil Nadu (TN).

  3. The 1st Solar Lift Irrigation Plant of Kargil was inaugurated recently. The Kargil is located in which state/UT?
    1) Jammu & Kashmir
    2) Ladakh
    3) Himachal Pradesh
    4) Mizoram
    5) Arunachal Pradesh
    Answer-2) Ladakh
    Explanation:
    Ladakh’s Director of Animal, Sheep Husbandry and Fisheries Mohammad Raza inaugurated the 1st Solar Lift Irrigation Plant of Kargil with five-kilowatt(KW) Solar Plant and 3 Horsepower(HP) Submersible Pump(installed by Kargil Renewable Energy Agency- KREDA) at Yak Breeding Farm, Bodh Kharboo.

  4. Which state has modified Scheduled tribes and other traditional forest dwellers (Recognition of Forest Rights) Act, 2006 recently?
    1) West Bengal
    2) Arunachal Pradesh
    3) Maharashtra
    4) Gujarat
    5) Karnataka
    Answer-3) Maharashtra
    Explanation:
    Maharashtra Governor Bhagat Singh Koshyari has made certain modifications in Section 6 of the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, (also called as Forest Rights Act-FRA) in its application to the Scheduled Areas of the State of Maharashtra.

  5. According to the reporttitled “Children in monetary poor households and COVID-19: Technical Note” released by UNICEF & Save the children, how many children will be trapped in to poverty by the end of 2020?
    1) 212 million
    2) 578 million
    3) 672 million
    4) 426 million
    5) 714 million
    Answer-3) 672 million
    Explanation:
    According to the report “Children in monetary poor households and COVID-19: Technical Note” released jointly by the UNICEF (United Nations Children’s Fund) & Save the Children, a United Kingdom (UK) based non-profit organization which works for child rights, the economic crisis caused by the coronavirus (COVID-19) epidemic may increase the number of children living in poor households in low- and middle-income countries by 86 million (or an increase of 15%) to reach 672 million by the end of 2020.

  6. The Asian Development Bank and Government of India has signed loan agreement of $177 million to upgrade roads in which state?
    1) West Bengal
    2) Arunachal Pradesh
    3) Maharashtra
    4) Gujarat
    5) Karnataka
    Answer-3) Maharashtra
    Explanation:
    The Asian Development Bank(ADB) and the Government of India signed a USD 177 million loan to upgrade 11 state highways & 2 major district roads with a combined length of 450 km, to 2-lane standard across seven districts of Maharashtra.

  7. RBI to raise 80,000 crores through CMBs. CMB is abbreviated as Cash ________ Bills.
    1) Market
    2) Money
    3) Management
    4) Mutual
    5) Medium
    Answer-3) Management
    Explanation:
    The Reserve Bank of India will raise Rs 80,000 crore by selling Cash Management Bills (CMBs) or shorter duration sovereign debt instruments as the government would be requiring money to meet immediate debt obligations amid coronavirus outbreak. Those securities will mature in the next 84 days on August 20, 2020.

  8. What will be the contraction in India’s GDP rate in FY21 as per estimation of Fitch ratings?
    1) 5%
    2) 4%
    3) 3%
    4) 2%
    5) 1%
    Answer-1) 5%
    Explanation:
    S&P Global Ratings (previously Standard & Poor’s) has projected India’s GDP (Gross Domestic Product) growth for the current fiscal year FY 21( 2020-21) to contract by 5 % from 1.8 % growth projected in April 2020, due to the lockdown imposed for the prevention of the coronavirus (COVID-19) pandemic, which severely affected economic activity in the country.Earlier this week, rating agency Fitch &Crisil also forecast a negative growth of 5 % in the Indian economy.

  9. Name the company which entered into partnership with LIC to distribute the micro insurance products.
    1) BTI Payments Limited
    2) Hitachi Limited
    3) Indicash Limited
    4) Vakrangee Limited
    5) Communications solutions Limited
    Answer-4) Vakrangee Limited
    Explanation:
    Tech firm Vakrangee Limited (VL) has entered into the Corporate Agency (Registration Code CA0249) partnership with Life Insurance Corporation of India (LIC) to distribute latter’s micro insurance products in unserved and underserved areas through its Nextgen Vakrangee Kendra network spread across India.

  10. HIL (India) to supply 25 tons of pesticides to which country to control locust attack?
    1) Malaysia
    2) Bangladesh
    3) Pakistan
    4) Afghanistan
    5) Iran
    Answer-5) Iran
    Explanation:
    HIL, (India) Limited (Formerly- Hindustan Insecticides Limited) a Public sector undertakings(PSU) under Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers is in process to produce & supply 25 tonnes Malathion Technical to Iran for the Locust Control Program under government arrangements.

  11. Anil Kishora has been appointed as the vice president of New Development Bank (NDB) recently. Who was appointed as the new president of NDB replacing KV Kamath?
    1) Prado Troyjo
    2) Paulo Guedes
    3) Anton Siluanov
    4) Xiao Jie
    5) Tito Mboweni
    Answer-1) Prado Troyjo
    Explanation:
    The New Development Bank of the BRICS countries has designated Brazil’s Marcos Prado Troyjo as its President. He will succeed eminent Indian banker KundapurVaman Kamath who took over as the first president of the bank in 2015. The decision regarding appointment was taken during the special virtual meeting of the Board of Governors. The Board also appointed Anil Kishora of the State Bank of India (SBI), as the vice president of the NDB to assist the emerging economies in infrastructure development loans.

  12. Narinder Dhruv Batra was appointed as a member of the Olympic Channel Commission recently. He is the president of International federation of which sport?
    1) Cricket
    2) Tennis
    3) Football
    4) Hockey
    5) Badminton
    Answer-4) Hockey
    Explanation:
    Indian Olympic Association (IOA) President Dr Narinder Dhruv Batra, 63 years old, was appointed as a member of the Olympic Channel Commission. Badra also heads the International Hockey Federation (FIH).

  13. Who was appointed as the new chairman of JP Morgan, south and south east Asia recently?
    1) Madhav Kalyan
    2) Leo Puri
    3) Murli Maiya
    4) Kalpana Morparia
    5) KV Kamath
    Answer-2) Leo Puri
    Explanation:
    Leo Puri, the former Managing Director(MD) and Chief Executive Officer(CEO) of UTI Mutual Fund, will take charge as the chairman of JP Morgan, South and Southeast Asia after Kalpana Morparia(70 years old) retirement in 2021. She will stay in the company till Q1 of 2021. Leo Puri will report to Filippo Gori, CEO, Asia-Pacific.

  14. Mohit Gupta has been elevated as the co-founder of which company?
    1) Uber
    2) Zomato
    3) Swiggy
    4) Dominos
    5) Foodpanda
    Answer-2) Zomato
    Explanation:
    Deepinder Goyal, Founder and (CEO) Chief Executive Officer of food ordering platform Zomato has virtually- appointed Mohit Gupta, the CEO- of its food delivery business as one of its co-founder.

  15. Vishwas Mehta has been appointed as the Chief secretary of which state?
    1) Telangana
    2) Andhra Pradesh
    3) Tamil Nadu
    4) Karnataka
    5) Kerala
    Answer-5) Kerala
    Explanation:
    He State Cabinet of Kerala appointed Additional Chief Secretary (Home) Vishwas Mehta as Chief Secretary (CS) of Kerala and will continue to hold the office till February 28, 2021. He will be the successor of Tom Jose, who retires on May 31, 2020.

  16. IAF operationalised its 2nd squadron No. 18 ‘Flying Bullet’ equipped with LCA Tejas (Mk-1) recently. Name the agency which designed this squadron.
    1) Aircraft Development Agency
    2) Aircraft Design Agency
    3) Aircraft Manufacturing Agency
    4) Aircraft Operating Agency
    5) Aircraft Managing Agency
    Answer-1) Aircraft Development Agency
    Explanation:
    The Indian Air Force(IAF) operationalised its 2nd squadron(Sqn) No. 18 ‘Flying Bullet’ equipped with Light Combat Aircraft (LCA) Tejas(Mk-1)Final Operational Clearance(FOC) at its Sulur Air Force Station in Coimbatore, Tamil Nadu. It was operationalised by Chief of the Air Staff(CAS), Air Chief Marshal (ACM) Rakesh Kumar Singh(R.K.S.) Bhadauria. This Sqn is designed by the Aircraft Development Agency(ADA) under the Defence Research and Development Organisation(DRDO) and manufactured by Hindustan Aeronautics Limited(HAL), Bengaluru & is the only Param Vir Chakra Sqn of the IAF.

  17. ISRO has received patent for method of manufacturing _____ soil recently.
    1) Sun
    2) Venus
    3) Star
    4) Earth
    5) Moon
    Answer-5) Moon
    Explanation:
    Indian Space Research Organisation (ISRO) has received a patent for its method of manufacturing highland lunar soil simulant or moon soil which was prepared to create an artificial moon surface as a part of 2019’s Moon landing mission Chandrayaan-2 so that the Vikram lander and Pragyaan rover could be tested. This soil simulant represents the regolith (loose unconsolidated rock and dust that sits atop a layer of bedrock) of lunar highland region.

  18. When was world hunger day observed annually?
    1) August 6
    2) June 14
    3) March 19
    4) July 17
    5) May 28
    Answer-5) May 28
    Explanation:
    World Hunger Day (WHD) is observed every year on May 28 globally. The objective of this day is to raise awareness about more than 820 million people living in chronic hunger worldwide. The day seeks sustainable solutions to hunger and poverty and to inspire everyone to be a part of the solution.

STATIC GK based on Current Affairs

  1. MirabaiChanu who is in news recently is associated with which sport?
    1) Wrestling
    2) Weightlifting
    3) Shooting
    4) Archery
    5) Rowing
    Answer-2) Weightlifting
    Explanation:
    The Indian Weightlifting Federation (IWLF) has nominated former World champion S. MirabaiChanu for the prestigious Arjuna Award.

  2. Gugamal NP is located in which state?
    1) Uttar Pradesh
    2) Odisha
    3) Bihar
    4) Madhya Pradesh
    5) Maharashtra
    Answer-5) Maharashtra
    Explanation:
    Gugamal National Park has an area of 1673.93 square kilometers. Built in 22 February 1974, this park is located in Chikhaldara and Dharni Tehsils of Amravati District, Maharashtra, India. It is part of Melghat Tiger Reserve.

  3. Where is the HQ of ISRO located?
    1) Bengaluru
    2) Chennai
    3) Hyderabad
    4) Cochin
    5) Ahmedabad
    Answer-1) Bengaluru
    Explanation:
    The Secretariat of Department of Space and Indian Space Research Organisation Headquarters are located at Antariksh Bhavan in Bengaluru, Karnataka.

  4. Where is the HQ of New Development Bank located?
    1) Shanghai
    2) Moscow
    3) New Delhi
    4) Rio
    5) Johannesburg
    Answer-1) Shanghai
    Explanation:
    The New Development bank (NDB) is headquartered in Shanghai, China.

  5. Who is the current Defence minister of India?
    1) Narendra Modi
    2) Jaishankar
    3) Amit Shah
    4) Nirmala Sitharaman
    5) Rajnath Singh
    Answer-5) Rajnath Singh
    Explanation:
    Rajnath Singh is the present defence minister of India.