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Current Affairs Quiz: 31 May 2023

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AffairsCloud brings you the complete and important daily Current Affairs Quiz 31 May 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. In May 2023, Prime Minister (PM) Narendra Modi virtually flagged off the Northeast region’s first Vande Bharat Express which will connect Guwahati, Assam with New Jalpaiguri, __________.
      1) Uttar Pradesh
      2) West Bengal
      3) Jharkhand
      4) Bihar
      5) Uttarakhand
      Answer-2) West Bengal
      Explanation:
      Prime Minister (PM) Narendra Modi virtually flagged off the Northeast region’s first Vande Bharat Express which will connect Guwahati (Assam) with New Jalpaiguri (West Bengal).
      • This is also the first “Made in India ” Vande Bharat Express of Assam and the 3rd Vande Bharat Express connecting West Bengal.
      • It would cover Guwahati to New Jalpaiguri a distance of approximately 411 kilometres within a span of 5 hours and 30 minutes. Earlier, the fastest train on the same route took 6 hours and 30 minutes to cover the distance.
      i. The PM dedicated the New Bongaigaon-Dudhnoi-Mendipather and Guwahati-Chaparmukh newly-electrified sections to the nation. Around 425 kilometres of railway tracks in Assam & Meghalaya have been electrified.

    2. According to the 18th quarterly Periodic Labour Force Survey (PLFS) released by National Statistical Office (NSO) in May 2023, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to _________ during Q4FY23 from 7.2% in Q3FY23.
      1) 7.0%
      2) 6.5%
      3) 6.8%
      4) 6.6%
      5) 6.9%
      Answer-3) 6.8%
      Explanation:
      On May 29, 2023, the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released its 18th quarterly Periodic Labour Force Survey (PLFS) bulletin for January-March 2023 (Q4FY23).
      • As per it, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.8% during Q4FY23 from 7.2% in Q3FY23.
      • The unemployment rate was 8.2% during January-March 2022.
      • The Labour Force Participation Rate (LFPR) in CWS for males was 73.5% from 73.3% in Q3FY23.
      • The Worker Population Ratio (WPR) in % in CWS for males increased to 69.1% as compared to 68.6% Q3FY23.

    3. Which company has recently (in May ‘23) launched India’s fastest one-step UPI (Unified Payments Interface) payment solution ‘Turbo UPI’?
      1) PhonePe
      2) Freecharge
      3) Paytm
      4) BharatPe
      5) Razorpay
      Answer-5) Razorpay
      Explanation:
      Razorpay has launched India’s fastest one-step UPI (Unified Payments Interface) payment solution namely ‘Turbo UPI’ allowing customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout.
      • This Solution was developed in partnership with the National Payments Corporation of India (NPCI) and Axis Bank.
      • Through this app, the payment steps are reduced from 5 to 1.
      i. Aim: To deliver a 5X faster payment experience and to support the businesses to achieve an increase in the success rate of UPI payments by 10%.

    4. In May 2023, the Securities and Exchange Board of India (SEBI) reconstituted a ______ member Intermediary Advisory Committee, chaired by S Ravindran, former SEBI Executive Director (ED).
      1) 18
      2) 21
      3) 10
      4) 15
      5) 25
      Answer-2) 21
      Explanation:
      Securities and Exchange Board of India (SEBI) has reconstituted its intermediary advisory committee, which would suggest it on matters related to changes in the legal framework and enhancing transparency in systems and procedures of market intermediaries including stock brokers, depository participants, and clearing members.
      i. The 21-member intermediary advisory committee would continue to be chaired by S Ravindran, former executive director at SEBI.
      ii. The committee will advise SEBI on matters relating to the regulation of stock brokers, depository participants, clearing members, non-mutual fund Registrar and Transfer Agents (RTAs), Investments Advisors (IAs), Research Analysts (RAs), and KYC Registration Agency (KRAs).

    5. Name the Small Finance Bank Limited (SFB) that has recently (in May ‘23) collaborated with IBM Consulting to design and build a digital banking platform.
      1) Equitas SFB
      2) ESAF SFB
      3) Suryoday SFB
      4) AU SFB
      5) Utkarsh SFB
      Answer-1) Equitas SFB
      Explanation:
      Equitas Small Finance Bank Limited (SFB) collaborated with IBM Consulting, the professional services and consulting arm of IBM (International Business Machines Corporation), to design and build a digital banking platform that delivers a modern and highly secure experience to the bank’s customers and partners.
      i. Objective: The collaboration was made to boost the digital products offered by Equitas as well as its service offerings and
      ii. IBM Consulting became the consulting partner and technology collaborator of Equitas SFB to simplify and transform the banking experience of customers.

    6. Which bank has recently (in May ‘23) unveiled a new logo and integrated campaign with the tagline ‘Life Ko Banao Rich’?
      1) ICICI Bank
      2) Axis Bank
      3) YES Bank
      4) IndusInd Bank
      5) HDFC Bank
      Answer-3) YES Bank
      Explanation:
      YES Bank, headquartered in Mumbai (Maharashtra) has unveiled a new logo and brand identity. The new identity is designed to resonate with the evolving needs and aspirations of customers and enable people to live each day to the fullest.
      • The tick has been transformed into a soaring bird, representing the Bank’s current position of ‘soaring’.
      • The red and blue have been given an electric tone, representing the high energy and innovation of the bank.
      i. The bank also launched an integrated campaign with the tagline – ‘Life Ko Banao Rich’ which represents its core focus of being a complete solution provider.

    7. According to the Department for Promotion of Industry and Internal Trade (DPIIT) data released in May 2023, the Foreign Direct Investment (FDI) into India declined by ____________ to USD 46.03 billion in FY23.
      1) 20%
      2) 15%
      3) 10%
      4) 22%
      5) 30%
      Answer-4) 22%
      Explanation:
      According to the Department for Promotion of Industry and Internal Trade (DPIIT) data, the Foreign Direct Investment (FDI) into India declined by 22% to USD (United States Dollar) 46.03 billion in FY23 as compared to USD 58.77 billion during FY22.
      i. Singapore emerged as the top investor with USD 17.2 billion in FDI. It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the United Arab Emirates (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), United Kingdom (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million)
      ii. The FDI inflows have contracted in FY23 from Mauritius, the United States (US), the Netherlands, the Cayman Islands, and Germany.
      iii. Maharashtra continued to be the most favoured destination for investors. It received USD 14.8 billion worth of investments, although inflows declined from USD 15.44 billion in FY22.
      iv. It is followed by Karnataka at 2nd with around USD 10.43 billion in FY23, up from USD 22.01 billion in FY22.

    8. Name the bank that has recently (in May ‘23) re-appointed Sandeep Batra as the Executive Director (ED) for 2 years with effect from 23rd December 2023.
      1) ICICI Bank
      2) Axis Bank
      3) HDFC Bank
      4) IndusInd Bank
      5) YES Bank
      Answer-1) ICICI Bank
      Explanation:
      The board of directors of ICICI Bank has approved the re-appointment of Sandeep Batra as Executive Director (ED) of ICICI Bank for 2 years with effect from 23rd December 2023 to 22nd December 2025.
      i. The current tenure of Sandeep Batra as ED is set to end on 22nd December 2023.
      ii. In December 2020, Reserve Bank of India approved the appointment of Batra as the ED of ICICI Bank for a period of 3 years.

    9. Who authored the book, “NTR-A Political Biography”?
      1) Pulagam Chinnarayana
      2) Ramachandra Murthy Kondubhatla
      3) Katta Shekar Reddy
      4) Devulapalli Amar
      5) Umarji Anuradha
      Answer-2) Ramachandra Murthy Kondubhatla
      Explanation:
      Journalist, editor and writer, Ramachandra Murthy Kondubhatla, has authored a new book titled “NTR-A Political Biography” which presents a realistic picture of Nandamuri Taraka Rama Rao (NTR), the star figure in the discourse on cinema and politics in the two Telugu States (Andhra Pradesh and Telangana).
      • The book, published by HarperCollins India, commemorates the centenary year of NTR.

    10. What was the theme of World Digestive Health Day (WDHD) 2023 that was observed across the globe on 29th May 2023?
      1) Obesity: An Ongoing Pandemic
      2) Gut Microbiome – A Global Perspective
      3) Your Digestive Health: A Healthy Gut From the Start
      4) Early Diagnosis and Treatment of GI Cancer
      5) Colorectal Cancer Prevention: Getting Back on Track
      Answer-3) Your Digestive Health: A Healthy Gut From the Start
      Explanation:
      World Digestive Health Day (WDHD) 2023 was observed across the globe on 29th May 2023 with the theme of “Your Digestive Health: A Healthy Gut From the Start“.
      i. The day was observed to raise awareness and underline the significance of digestive disorders and emphasise the importance of timely diagnosis, prevention and treatment for gastrointestinal (GI) diseases or disorders including cancer.
      ii. WDHD on 29th May 2023 marks the 64th anniversary of the World Gastroenterology Organisation (WGO) foundation.
      iii. The first ever World Digestive Health Day was observed on 29th May 2004.