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Current Affairs Quiz: August 1 2018

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AffairsCloud brings you the complete and important daily Current Affairs August 1 2018 Quiz to achieve more marks in Banking , Insurance, UPSC, SSC, CLAT , Railways  and all other competitive Exams. We have prepared the current affairs quiz from our current affairs today updates.

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  1. How many amendments of GST Laws were approved in a Cabinet meeting chaired by Prime Minister Narendra Modi on 1st August 2018?
    1.46
    2.35
    3.26
    4.15
    5.None of these
    Answer – 1.46
    Explanation:
    On August 1, 2018, In a Cabinet meeting chaired by Prime Minister Narendra Modi amendments of GST Laws were approved. It has 46 amendments. It includes hiking threshold limit to Rs.1.5 crore, allowance of employers to claim input tax credit on food, transport and insurance provided to employees under any law. It also has modification of reverse charge mechanism, separate registration for companies having different business verticals, cancellation of registration, new return filing norms and issuance of consolidated debit/credit notes covering multiple invoices.

  2. On August 1,2018, the Union Cabinet, chaired by Prime Minister Narendra Modi, cleared the purchase of 51 % controlling stake in IDBI bank by which entity?
    1.Life Insurance Corporation (LIC)
    2.State Bank of India
    3.Reserve Bank of India
    4.Aditya Birla Insurance
    5.None of these
    Answer – 1.Life Insurance Corporation (LIC)
    Explanation:
    On August 1,2018, The Union Cabinet, chaired by Prime Minister Narendra Modi , cleared the purchase of 51 per cent controlling stake in IDBI bank by state-run insurer Life Insurance Corporation (LIC). According to the deal the bank will get Rs 10,000 crore to Rs 13,000 crore depending on the share price. This was done to raise the capital of the IDBI Bank to pay off debts. Earlier LIC had 7-7.5 per cent stake in the bank.

  3. On August 1, 2018, India and Germany signed an agreement on financial and technical cooperation. As per this agreement, Germany will give _____ for development of India?
    1.Rs 8,500 crore
    2.Rs 2,500 crore
    3.Rs 3,786 crore
    4.Rs 4,789 crore
    5.None of these
    Answer – 1.Rs 8,500 crore
    Explanation:
    On August 1, 2018, India and Germany signed an agreement on financial and technical cooperation. According to this agreement, Germany will give nearly Rs 8,500 crore (1,055 million Euros) for development of India. This will focus on sustainable urban development and renewable energy in areas of sanitation, solid waste management and promotion of urban mobility. This cooperation will help reduce the greenhouse gases emission.

  4. Where did Union Minister of State (Independent Charge) for AYUSH Shripad Yesso Naik lay the foundation stone of the 2nd Phase of Construction of North East Institute of Ayurveda & Homeopathy (NEIAH) on 29th July 2018?
    1.Mawdiangdiang, Shillong
    2.Changlang, Itanagar
    3.Kiphire, Kohima
    4.Longleng, Itanagar
    5.None of these
    Answer – 1.Mawdiangdiang, Shillong
    Explanation:
    On July 29, 2018, Union Minister of State (Independent Charge) for AYUSH Shri Shripad Yesso Naik laid the foundation stone of the 2nd Phase of Construction of North East Institute of Ayurveda & Homeopathy (NEIAH) at NEIAH Campus in Mawdiangdiang, Shillong. The estimated cost of the construction is Rs 40.80 crore. The area of the project is : 10481.53 sqm. It will have residential accommodation for students, doctors and staff and guest house.

  5. Named the portal launched by the Inland Waterways Authority of India (IWAI) to connect cargo owners and shippers with real time data on availability of vessels?
    1.FOCAL (Forum of Cargo-Owners and Logistics-Operators)
    2.WConnect
    3.CLAP (Cargo-Owners and Logistics-Operators Association Portal)
    4.VConnect
    5.None of these
    Answer – 1.FOCAL (Forum of Cargo-Owners and Logistics-Operators)
    Explanation:
    To know the availability of vessels in the market. The name of the portal is : Forum of Cargo-Owners and Logistics-Operators (FOCAL). It has been designed and developed by IT Department and the Traffic Wing of IWAI. This would ensure direct interaction among the vessel operators, shippers and cargo owners.

  6. On 10th August 2018, NITI Aayog will host an Investors’ Conference for the Holistic Development of Islands in which city?
    1.Port Blair
    2.Chennai
    3.Panaji
    4.New Delhi
    5.None of these
    Answer – 4.New Delhi
    Explanation:
    This Conference will be inaugurated by Amitabh Kant, CEO, NITI Aayog. It is expected to gain investment for the sustainable development of eco-tourism projects in Andaman & Nicobar and Lakshadweep islands. The Conference is organized by NITI Aayog along with the respective UT Administration. NITI Aayog has been mandated to look over the Holistic Development of Islands program, along with the respective UT administration and State Governments. Under the first phase of this program, 10 Islands in Andaman & Nicobar and Lakshadweep have been considered for holistic development.

  7. ____ that implements Ayushman Bharat-National Health Protection Mission (AB-NHPM) and Common Service Centres (CSC) have signed a MoU to provide information and eligibility validation services to beneficiaries, mainly in remote areas?
    1.National Health Agency (NHA)
    2.Indian Medical Association (IMA)
    3.Rural Welfare Association (RWA)
    4.Rural Health Association (RHA)
    5.None of these
    Answer – 1.National Health Agency (NHA)
    Explanation:
    National Health Agency (NHA) functions under the Ministry of Health and Family Welfare. Its objective is to implement Ayushman Bharat-National Health Protection Mission (AB-NHPM). The MoU was signed by Dr. Indu Bhushan, CEO, National Health Agency (NHA) and Dr. Dinesh Tyagi, CEO, CSC-SPV. More than 3 lakh CSCs in 2.5 lakh Panchayats of India will become the major point of information for potential beneficiaries and help in validating the entitlement of beneficiaries. AB-NHPM aims to cover nearly 10.74 crore poor families. It has identified occupational category of urban workers’ families according to the latest Socio-Economic Caste Census (SECC) data, for both rural and urban India.

  8. Which has become the first state to implement Centre’s ‘Biofuel Policy’?
    1.Rajasthan
    2.Gujarat
    3.Madhya Pradesh
    4.Assam
    5.None of these
    Answer – 1.Rajasthan
    Explanation:
    For this Rajasthan has established a Centre of Excellence in Udaipur to promote research in alternate fuels and energy sources. To expand ethanol production, it has allowed using sugarcane juice and starch containing materials for production of ethanol. The state installed a biodiesel plant of capacity of 8 tonnes a day with the financial assistance of Indian Railways. These steps will help in increase in production of oil seeds and reduce country’s oil import.

  9. Name the smartphone distribution scheme under the Sanchar Kranti Yojna (SKY), launched by Chhattisgarh Chief Minister Raman Singh and actress Kangana Ranaut?
    1.Mobile Vision
    2.Mobile for All
    3.Mobile Tihar
    4.Mobilise the State
    5.None of these
    Answer – 3.Mobile Tihar
    Explanation:
    On 30th July 2018, Chhattisgarh Chief Minister Raman Singh and actress Kangana Ranaut launched ‘Mobile Tihar’, a smartphone distribution scheme under the Sanchar Kranti Yojna (SKY) in Raipur, Chhattisgarh. The scheme has been launched to distribute smartphones to women and students. It will benefit more than 50 Lakh people. As a part of this scheme, 556 new mobile towers will be set up in Chhattisgarh.

  10. Where was the first ‘Nepal-India Think Tank’ Summit held on 31st July 2018?
    1.Kathmandu, Nepal
    2.New Delhi, India
    3.Mumbai, India
    4.Bengaluru, India
    5.None of these
    Answer – 1.Kathmandu, Nepal
    Explanation:
    It was inaugurated by Former Prime Minister of Nepal and Co-Chairman of ruling Nepal Communist Party, Pushpa Kamal Dahal ‘Prachanda’. It was jointly organized by the Asian Institute of Diplomacy and International Affairs and Nehru Memorial Museum Library. It consisted of 4 sessions. The summit will be hosted alternatively in Nepal and India annually.

  11. On August 1, 2018, India imposed safeguard duty on solar panels imported from China and Malaysia for how many years?
    1.5
    2.3
    3.4
    4.2
    5.None of these
    Answer – 4.2
    Explanation:
    This was recommended by the Directorate General of Trade Remedies (DGTR), under the commerce ministry. As per the notice from Finance Ministry,
    • 25 per cent safeguard duty have been imposed for July 30 to July 29, 2019,
    • 20 per cent during July 30, 2019 to January 29, 2020 and
    • 15 per cent during January 30, 2020 to July 29, 2020.
    Solar tariffs are currently at around Rs 2.75 per unit, on par with that of thermal power, but safeguard duty is expected to raise it by at least 50 paise.

  12. What is the current repo rate, as per the 3rd bi-monthly policy, released by RBI on August 1, 2018?
    1.6.50 %
    2.6.25 %
    3.6.00 %
    4.6.75 %
    5.None of these
    Answer – 1.6.50 %
    Explanation:
    [table]

    Policy rates 2nd bi-monthly in June 6th 2018 3rd bimonthly in August 1,2018
    Repo Rate 6.25% 6.50%
    Reverse Repo Rate 6.0% 6.25%
    Marginal Standing Facility (MSF) 6.5% 6.75%
    Bank Rate 6.5% 6.75%
    Reserve Ratios:
    Cash Reserve Ratio (CRR) 4% 4%
    Statutory Liquidity Ratio (SLR) 19.5% 19.5%

    [/table]


  13. To provide financial assistance to commodity traders and farmers, StarAgri Finance signed a MoU with which bank, on August 1, 2018?
    1.Karur Vysya Bank
    2.HDFC Bank
    3.Axis Bank
    4.ICICI Bank
    5.None of these
    Answer – 1.Karur Vysya Bank
    Explanation:
    On August 1, 2018, To provide financial assistance to commodity traders and farmers, StarAgri Finance signed MoU with private lender Karur Vysya Bank. Micro-lending would be provided to traders and farmers in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra. The assistance would be provided against the commodities stored in warehouses of StarAgri Finance.

  14. Who took charge as Director (Finance) of Hindustan Aeronautics Ltd (HAL) on 1st August 2018?
    1.Gopala Krishnan
    2.C B Ananthakrishnan
    3.Ravi Sundaram
    4.Sharad Kumar
    5.None of these
    Answer – 2.C B Ananthakrishnan
    Explanation:
    On 1st August 2018, C B Ananthakrishnan took charge as Director (Finance) of Hindustan Aeronautics Ltd (HAL). Earlier, C B Ananthakrishnan was the Executive Director (Finance) at HAL Corporate Office. He joined HAL as Chief Manager (Finance) at Helicopter Division, Bengaluru, in 2004. He was also HAL nominee Director in the Board of three joint ventures of HAL.

  15. Name the new 3D shape that has been discovered by scientists during a study on how tissues are moulded to form the skin, cavity linings and the building blocks of organs?
    1.scutoid
    2.stelloid
    3.arondum
    4.bromb
    5.None of these
    Answer – 1.scutoid
    Explanation:
    Scutoid has 5 sides on one end and 6 on the other end. It has a triangular surface on one of its longer edges. Scientists refer this as a twisted prism kind of shape. It enables the tissue to mould around organs. The name Scutoid refers to its similarity to the scutellum. Scutellum is the lowest segment of an insect’s midsection. Epithelial cells that cover the surface of various organs as safety shield adopt a certain geometric shape, which was earlier believed to be columnar or bottle-like. Now, the shape has been named ‘Scutoid’.

  16. Who won the Hungarian Grand Prix for the 6th time, at the Hungaroring circuit, in Hungary, on 29th July 2018?
    1.Valterri Bottas
    2.Sebastian Vettel
    3.Lewis Hamilton
    4.Daniel Riccardio
    5.None of these
    Answer – 3.Lewis Hamilton
    Explanation:
    [table]

    Position Driver Team Country
    1 Lewis Hamilton Mercedes United Kingdom
    2 Sebastian Vettel Ferrari Germany
    3 Kimi Raikkonen Ferrari Finland
    4 Daniel Ricciardo Red Bull Australia
    5 Valtteri Bottas Mercedes Finland

    [/table]


  17. The World Junior Squash Championships 2018 was held in Chennai, from 18th to 29th July 2018. Which men’s team emerged as the 2018 World Junior Squash Champions?
    1.England
    2.India
    3.Egypt
    4.Spain
    5.None of these
    Answer – 3.Egypt
    Explanation:
    [table]

    Event Winner Runner-up
    Men’s Individual Mostafa Asal (Egypt) Marwan Tarek (Egypt)
    Women’s Individual Rowan Elaraby (Egypt) Hania El Hammamy(Egypt)
    Men’s Team Egypt England

    [/table]


  18. When was Earth Overshoot Day 2018 observed to commemorate that we all have consumed more from nature than our planet can renew in the entire year?
    1.July 31
    2.August 3
    3.August 2
    4.August 1
    5.None of these
    Answer – 4.August 1
    Explanation:
    Earth Overshoot Day is an initiative of Global Footprint Network. Global Footprint Network is an international research organization that is changing how the world measures and manages its natural resources. The date of Earth Overshoot Day is calculated from data of Global Footprint Network. Earth Overshoot Day marks the date when we all have consumed more from nature than our planet can renew in the entire year.

  19. Which football club has been recognised by the United Nations as the World’s first certified carbon neutral football club?
    1.Forest Green Rovers Football Club
    2.PSG Football Club
    3.Real Madrid Football Club
    4.Liverpool Football Club
    5.None of these
    Answer – 1.Forest Green Rovers Football Club
    Explanation:
    The Forest Green Rovers Football Club announced on being recognised by the United Nations as the World’s first certified carbon neutral football club, after signing up to the UNFCCC Climate Neutral Now initiative for the upcoming season. The UN campaign, launched in 2015, encourages companies, organisations, governments and citizens to reduce their climate footprints, with the aim of achieving a climate neutral world by the middle of this century.

  20. On August 1, 2018, Lucknow Metro Rail Corporation (LMRC) and which telecom service provider signed an MoU for extending benefits in customer services?
    1.Vodafone India
    2.Bharti Airtel
    3.BSNL
    4.Reliance Jio
    5.None of these
    Answer – 3.BSNL
    Explanation:
    On August 1, 2018, Lucknow Metro Rail Corporation (LMRC) and BSNL have signed an MoU for extending benefits in customer services. BSNL will use the smart card services of LMRC for collection of post-paid bills. It will also involve sale of pre-paid products like recharge vouchers and electronic top-up at LMRC Ticket Office Machine (TOM) station counters.

STATIC GK based on Current Affairs

  1. Who is the Chairman of Hindustan Aeronautics Ltd (HAL)?
    T Suvarna Raju

  2. Where is Kanger Ghati National Park located?
    Chhattisgarh

  3. What is the tag line of IDBI Bank?
    Aao Sochein Bada

  4. Who is the President of World Squash Federation (WSF)?
    Jacques Fontaine

  5. Where is Bakhshi Stadium located?
    Srinagar, Jammu & Kashmir