AffairsCloud brings you the complete and important daily Current Affairs 3 May 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 2022 updates.
Our Current Affairs March 2022 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.
- The Ministry of Ports, Shipping and Waterways (MoPSW) is set to build India’s first indigenous hydrogen-fuelled electric vessels at __________.
1) Mishra Dhatu Nigam
2) Cochin Shipyard Limited
3) Garden Reach Shipbuilders & Engineers
4) Hindustan Shipyard
5) Mazagon Dock Shipbuilders
Answer & Explanation
Answer-2) Cochin Shipyard Limited
Explanation:
The Ministry of Ports, Shipping and Waterways (MoPSW) is set to build India’s first indigenous hydrogen-fuelled electric vessels at Cochin Shipyard Limited(CSL) cochin, Kerala.
i. The hydrogen fuel cell vessel based on Low-Temperature Proton Exchange Membrane Technology (LT-PEM) called Fuel Cell Electric Vessel (FCEV) is expected to cost around Rs 17.50 crore.
ii. CSL has partnered with KPIT Technologies Limited and Indian developers in the areas of Hydrogen Fuel cells, power trains and the Indian Register of Shipping to develop rules and regulations for such vessels.
- Which Indian Navy Ship (INS) recently (in April ’22) delivered critical medical aid to Sri Lanka under Mission SAGAR IX?
1) INS Guldar
2) INS Shardul
3) INS Magar
4) INS Kesari
5) INS Gharial
Answer & Explanation
Answer- 5) INS Gharial
Explanation:
India as part of Mission SAGAR IX (Security And Growth for All in the Region) provided Critical Medical Aid through its Indian Navy Ship (INS) Gharial to Sri Lanka, which is going through a medical emergency situation with many life-saving drugs out of stock, forcing doctors to delay major surgeries.
i. The consignment arrived at Colombo, Sri Lanka on April 29, 2022 and delivered over 760 KiloGrams (kgs) of 107 types of critical life saving medicines, which was received by the Health Minister of Sri Lanka – Channa Jayasumana.
- Which state’s ‘Miyan Ka Bada’ railway station was renamed “Mahesh Nagar Halt”?
1) Madhya Pradesh
2) Rajasthan
3) West Bengal
4) Uttar Pradesh
5) Punjab
Answer & Explanation
Answer-2) Rajasthan
Explanation:
In an official name-changing ceremony held on April 30, 2022, The ‘Miyan Ka Bada’ railway station in the Balotra area of Rajasthan’s Barmer district was renamed “Mahesh Nagar Halt.”
i. In 2021, the name of the railway station was changed from Mian Ka Bada to Mahesh Nagar Halt after the proper procedures were followed, but the inauguration was postponed owing to the COVID-19 pandemic. The renamed station was finally inaugurated on April 30, 2022.
- In April 2022, the Ministry of MSME inaugurated the “Enterprise India” under Azadi Ka Amrit Mahotsav.
Who is the current (as of May’22) Union ministry of MSME?
1) Narayan Tatu Rane
2) Kiren Rijiju
3) Ramchandra Prasad Singh
4) Mukhtar Abbas Naqvi
5) Piyush Goyal
Answer & Explanation
Answer-1) Narayan Tatu Rane
Explanation:
Union Minister of Micro, Small and Medium Enterprises (MSME) Narayan Tatu Rane, inaugurated the “Enterprise India” under Azadi Ka Amrit Mahotsav.
i. The series of commemorative entrepreneurship, development events and activities were organised from April, 2022 to May, 2022. The event is aimed at ‘Jan Bhagidari’.
ii. It also promotes MSMEs in entrepreneurship and importance of Industry associations in making the country a “Manufacturing Hub” and increasing India’s economy to 5 trillion dollars.
- Which of the following points are “correct” with respect to the recent Guidelines/Norms issued by the Reserve Bank of India (RBI) in April 2022?
A) The RBI has issued guidelines on compensation of Key Managerial Personnel (KMPs) and senior management in NBFCs under Scale Based Regulatory (SBR) framework w.e.f. April 1, 2023.
B) RBI modified norms for banks to claim the amount of interest subvention provided to farmers under the short-term crop loan scheme through Kisan Credit Card (KCC) during FY22.
C) In order to provide short term crop loans up to Rs 3 lakh to farmers at an interest rate of 10 % per annum, the government offers interest subvention of 4% annually to lending institutions (LIs).
1) Only A
2) Only C
3) Only A & B
4) Only B & C
5) All A, B & C
Answer & Explanation
Answer-3) Only A & B
Explanation:
The RBI has issued guidelines on compensation of Key Managerial Personnel (KMPs) and senior management in NBFCs under Scale Based Regulatory (SBR) framework w.e.f. April 1, 2023.
i. RBI modified norms for banks to claim the amount of interest subvention provided to farmers under the short-term crop loan scheme through Kisan Credit Card (KCC) during FY22.
ii. In order to provide short term crop loans up to Rs 3 lakh to farmers at an interest rate of 7 % per annum, the government offers interest subvention of 2% annually to lending institutions (LIs).
iii. An additional 3% interest subvention is provided to farmers who pay their loans promptly. For such farmers, the effective interest rate is 4%.
- Name the Indian Insurance company that recently (in April’22) became Signatory to the United Nations – Supported Principles for Responsible Investment (PRI).
1) HDFC Life Insurance
2) Life Insurance Corporation of India
3) ICICI Prudential Life Insurance
4) Max Life Insurance
5) Bajaj Allianz Life Insurance
Answer & Explanation
Answer-1) HDFC Life Insurance
Explanation:
HDFC Life Insurance Company Limited (HDFC Life) recently joined the United Nations (UN) -backed Principles for Responsible Investment (PRI), affirming its commitment to long-term value creation and sustainable growth.
i. The PRI’s partnership with HDFC Life will allow it to streamline its responsible investment strategy.
- In May 2022, The Insurance Regulatory and Development Authority of India (IRDAI) increased the investment limit by insurance companies to invest in the financial sector to _____ from 25%.
1) 35%
2) 40%
3) 50%
4) 30%
5) 45%
Answer & Explanation
Answer-4) 30%
Explanation:
The Insurance Regulatory and Development Authority of India (IRDAI) in exercise of its powers conferred under Regulation 14(2) of the IRDAI (Investment) Regulations, 2016, has increased the investment limit of all insurance companies to invest in the Financial and Insurance activities (as per section K of NIC classification) to 30% of investment assets from 25%.
i. This rise in the limit will increase the exposure of insurance companies in this sector.
- In May 2022, Anshul Swami was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of which Small Finance Bank (SFB)?
1) Ujjivan SFB
2) Janalakshmi SFB
3) Suryoday SFB
4) Equitas SFB
5) Shivalik SFB
Answer & Explanation
Answer-5) Shivalik SFB
Explanation:
Anshul Swami was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of the Shivalik Small Finance Bank with effect from 26th April 2022.
i. He replaces Suveer Kumar Gupta the co-founder of the bank who led its transition from an urban co-operative bank to a small finance bank. Now, Suveer Kumar Gupta will act as the advisor to the Board of Directors at Shivalik Small Finance Bank.
- When was the 1st International Labour Day observed across the globe?
1) 1st May 1919
2) 1st May 1886
3) 1st May 1890
4) 1st May 1996
5) 1st May 1923
Answer & Explanation
Answer-3) 1st May 1890
Explanation:
International Labour Day/May Day /Antarrashtriya Shramik Diwas 2022 was observed across the globe on 1st May 2022 to create awareness about labour rights and to recognize the efforts of the working class. The first May day celebration focused on workers was observed on 1st May 1890.
i. May 1 was chosen as the day to celebrate International Workers Day to commemorate the Haymarket Riot Chicago in 1886 and the origin of the International Labour Day is associated with the struggle for a shorter workday, “The 8-hour day movement”.
ii. On the occasion of the International Labour Day 2022, Yogi Adityanath, Chief Minister(CM) of Uttar Pradesh(UP) inaugurated the e-Pension Portal in Lucknow, UP.
- The Ministry of Petroleum and Natural Gas recently (in May’ 22) decided to observe _______ as the “Ujjwala Diwas” to celebrate the achievements of the Pradhan Mantri Ujjwala Yojana (PMUY).
1) 1st May 2022
2) 30th April 2022
3) 2nd May 2022
4) 29th April 2022
5) 3rd May 2022
Answer & Explanation
Answer-1) 1st May 2022
Explanation:
The Ministry of Petroleum and Natural Gas (MoPNG) has decided to celebrate the 1st May 2022 as Ujjwala Diwas to celebrate the achievements of Pradhan Mantri Ujjwala Yojana (PMUY).
i. The PMUY was launched by Prime Minister(PM) Narendra Modi on 1st May 2016 at Ballia, Uttar Pradesh(UP) as a step toward providing Free LPG (Liquefied Petroleum Gas) connection to every Below Poverty Line (BPL) household.
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