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Current Affairs Quiz: 3 April 2021

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AffairsCloud brings you the complete and important daily Current Affairs 3 April 2021 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.

Our Current Affairs April 2021 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.

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Top 10 Questions Based on Current Affairs 3 April 2021

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  1. In March 2021, the Finance Ministry introduced the Emergency Credit Line Guarantee Scheme (ECLGS) 3.0 and extended the validity of ECLGS 1.0, 2.0 & 3.0 till they reach a targeted line of Credit of ______________.
    1) Rs. 3 Lakh crore
    2) Rs. 20 Lakh crore
    3) Rs. 10 Lakh crore
    4) Rs. 7 Lakh crore
    5) Rs. 2 Lakh crore
    Answer-1) Rs. 3 Lakh crore
    Explanation:
    The Ministry of Finance has extended the validity of Emergency Credit Line Guarantee Scheme (ECLGS) by another 3 months till June 30, 2021 or till such time that an amount of INR 3 Lakh crore (Target Credit Line) is sanctioned under the Scheme.
    · The extension of validity is applicable for ECLGS 1.0, 2.0 & 3.0.
    · ECLGS 3.0 scheme was introduced covering business enterprises in Hospitality, Travel & Tourism, Leisure & Sporting Sector.
    · Tenor of Loans under ECLGS 3.0 – 6 years including a moratorium period of 2 years.

  2. In April 2021, India & US agreed to revise the India-US Strategic Energy Partnership (SEP). Which is NOT one among the 4 preliminary pillars of cooperation under the SEP?
    1) Renewable Energy
    2) Food and Nutrition Security
    3) Oil and Gas
    4) Sustainable Growth
    5) Power and Energy Efficiency
    Answer-2) Food and Nutrition Security
    Explanation:
    India and the United States have agreed to revise the India-US Strategic Energy Partnership (SEP). The revised SEP will have a greater focus on promoting clean energy with low-carbon pathways.
    i. India-US SEP was established in April 2018.
    ii. SEP organizes interagency engagement across 4 primary pillars of cooperation. They are
    Power and Energy Efficiency
    Oil and Gas
    Renewable Energy
    Sustainable Growth

  3. What is the total financial outlay of the ‘Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)’ that facilitates Manufacturing, Branding & Marketing of 4 food products?
    1) Rs. 14075 crores
    2) Rs. 7,650 crores
    3) Rs. 10,900 crores
    4) Rs. 18,500 crores
    5) Rs. 5650 crores
    Answer-3) Rs. 10,900 crores
    Explanation:
    On March 31, 2021, the Union Cabinet chaired by Prime Minister Narendra Modi approved the Central Sector Scheme – ‘Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)’ with a total outlay of INR 10, 900 Crores.
    The scheme has 2 major components – Incentivising the manufacturing of 4 Major Food Products and Branding & Marketing of Indian Products Abroad.
    Ready to Cook (RTC) / Read to Eat foods (RTE)
    Processed Fruits & Vegetables
    Marine Products
    Mozzarella Cheese

  4. What was the Key point discussed by External Affairs Minister, S. Jaishankar in the 17th BIMSTEC Ministerial Meeting?
    1) Creation of Travel Bubble
    2) Free Trade Agreement
    3) Master Connectivity Plan
    4) Vaccine Delivery Outlay
    5) Green Energy Commitments
    Answer-3) Master Connectivity Plan
    Explanation:
    On 1st April 2021 External Affairs Minister, S. Jaishankar virtually addressed the 17th BIMSTEC (The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Ministerial Meet held in Colombo, Sri Lanka. He highlighted the strategic importance of the master connectivity plan among the South and Southeast Asian countries.
    · Free movement of People & Goods between BIMSTEC countries is proposed in the plan.
    · 2 agreements – Coastal Shipping Agreement & Motor Vehicles Agreement, will be signed in the 5th BIMSTEC Leaders Summit.

  5. As per the Finance Ministry, all businesses with turnover more than _______ should mandatorily furnish 6-digit HSN code from April 1, 2021.
    1) Rs. 10 crore
    2) Rs. 1.5 crore
    3) Rs. 2.5 crore
    4) Rs. 15 crore
    5) Rs. 5 crore
    Answer-5) Rs. 5 crore
    Explanation:
    Starting from April 1, 2021, the Finance Ministry has made it mandatory for Businesses with turnover of more than INR 5 Crore to furnish 6-Digit HSN/SAC (Harmonised System of Nomenclature Code/Service Accounting Code) on invoices issued for supplies of taxable goods and services.
    · Businesses with Turnover of up to INR 5 Crore in the Financial Year 2020-21 would be required to furnish 4-digit HSN code on B2B invoices.
    · HSN code was introduced by the World Customs Organization (WCO) in 1988.

  6. ________ with __________ transactions have the highest number of real-time transactions in Digital Payments in the world in 2020 as per the ‘Prime-Time for Real Time-2021’ report.
    1) India, 25.5 Billion
    2) USA, 12.7 Billion
    3) China, 25.5 Billion
    4) China, 25.5 Billion
    5) India, 12.7 Billion
    Answer-1) India, 25.5 Billion
    Explanation:
    According to the report ‘Prime-Time for Real Time’-2021 launched by ACI Worldwide and GlobalData, India with 25.5 Billion transactions topped the list of countries with most number of real-time transactions in Digital Payments in 2020. It was followed by China (15.7 Billion) & South Korea (6.0 Billion).
    · The report further states that Digital Payments will account for 71.7% of all Transactions in India by 2025.

  7. _________ announced the inflation rate of 4% with a +/- 2% tolerance band for the next _____ years.
    1) Govt. of India, 2 years
    2) Reserve Bank of India, 2 years
    3) Govt. of India, 5 years
    4) Reserve Bank of India, 5 years
    5) Govt. of India, 8 years
    Answer-3) Govt. of India, 5 years
    Explanation:
    On April 1,2021, Government of India has decided to continue the existing inflation-targeting framework which fixed the inflation target (price stability) of 4% with a +/- 2% tolerance band (in the range of 2% – 6%) for the next 5 fiscal years i.e. FY22 to FY26.
    · Indian Govt. has allocated ₹12.05 trillion as the total Gross borrowing target for FY22, of which 60% will be borrowed by the 1st half (September) of the year.

  8. Name the newly formed (in Apr’21) company, a wholly-owned subsidiary of National Payments Corporation of India (NPCI).
    1) NPCI Aadhaar Enabled Payment System Ltd
    2) NPCI Bharat BillPay Ltd
    3) NPCI BHIM Aadhaar Ltd
    4) NPCI National Financial Switch Ltd
    5) NPCI Immediate Payment Service Ltd
    Answer-2) NPCI Bharat BillPay Ltd
    Explanation:
    On April 01, 2021, The National Payments Corporation of India (NPCI) formed its wholly-owned subsidiary firm called NPCI Bharat BillPay Limited (NBBL) to offer recurring payment services. NPCI transferred all its Bharat Bill Payment System (BBPS) transaction mandates to the newly formed subsidiary.
    · It has a paid-up capital of Rs 5 lakh and a Share capital of Rs 1 crore.

  9. Who is set to receive the 51st Dadasaheb Phalke Award for the notable contribution to the film industry?
    1) Mammootty
    2) Kamal Haasan
    3) Ilayaraja
    4) Mohanlal
    5) Rajinikanth
    Answer- 5) Rajinikanth
    Explanation:
    On 1st April 2021, Prakash Javadekar, Union Minister, Ministry of Information and Broadcasting announced that Rajinikanth will be honoured with the 51st Dadasaheb Phalke Award for the year 2019 as a recognition of his contribution to the film industry.
    · He received Padma Vibhushan in 2016 for arts.
    · the 50th Dadasaheb Phalke Award was presented to Amitabh Bachchan in 2019.

  10. Who was appointed (in Apr’21) as the Director General of Employees’ State Insurance Corporation (ESIC)?
    1) Mukhmeet S Bhatia
    2) P.C. Chaturvedi
    3) Inderjeet Arora
    4) Ajay Bhushan Pandey
    5) N. K. Singh
    Answer-1) Mukhmeet S Bhatia
    Explanation:
    On 1st April 2021, Mukhmeet S Bhatia assumed the charge as the Director General(DG) of Employees’ State Insurance Corporation (ESIC), under the Ministry of Labour and Employment, Government of India.