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Current Affairs Quiz : February 17 2017

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  1. Which company has been placed at the top position in the list of 2017 World’s Most Admired Companies by FORTUNE?
    A.Apple
    B.Amazon.com
    C.Disney
    D.Berkshire Hathaway
    Answer – A.Apple
    Explanation :
    Apple has been awarded the number one spot on Fortune’s annual list of the “World’s Most Admired Companies.” The 2017 list marks Apple’s tenth consecutive win as the most admired company in the world according to Fortune, which collected the data from 3,800 executives, analysts, directors, and industry experts to end up with the final ranking. After Apple, the top five slots are rounded out by Amazon, Starbucks, Berkshire Hathaway, and Disney. Last year, Alphabet ranked in second place but the company has fallen down to sixth in 2017. One of Apple’s direct rivals in the hardware and software space, Microsoft, has been placed in the ninth spot in a tie with Facebook.

  2. Which bank has signed an MoU with the Ministry Human Resource Development (HRD) on February 17, 2017 to operationalize the Higher Education Financing Agency (HEFA)?
    A.Andhra Bank
    B.Allahabad Bank
    C.Bank of India
    D.Canara Bank
    Answer – D.Canara Bank
    Explanation :
    Bangalore based Public sector Canara Bank has signed a Memorandum of Understanding (MoU) with the Human Resource Development (HRD) Ministry on February 17, 2017 to operationalize the Higher Education Financing Agency (HEFA). The establishment of the Higher Education Financing Agency (HEFA) was approved by the Union Cabinet in September 2016. Through this MoU, HRD Ministry and Canara Bank will jointly promote the HEFA with an authorised capital of Rs. 2,000 crore. The objective behind the establishment of HEFA is to enhance and create high quality capital assets and infrastructure in the premier educational institutions.

  3. Which bank has been awarded with ISO 27001: 2013 certification for its Information Security Management System (ISMS) on February 16, 2017?
    A.Karur Vysya Bank
    B.Lakshmi Vilas Bank
    C.South Indian Bank
    D.Karnataka Bank
    Answer – C.South Indian Bank
    Explanation :
    Thrissur based South Indian Bank (SIB)’s MD and CEO of the bank, V.G. Mathew  has received the ISO 27001: 2013 certification from Venkataram Arabolu, Managing Director, BSI Group India for Information Security Management System (ISMS) of SIB on February 16, 2017. SIB  had already received ISO 9001 Quality Management certification for its Credit Department, Personnel Department and Data Centre. The bank received this certification for security best practices with international standards.

  4. Which payment and technology firm has collaborated with the Airtel Payments Bank to provide payments processing solution for various banking services?
    A.Visa
    B.Master Card
    C.UnionPay
    D.American Express
    Answer – B.Mastercard
    Explanation :
    Leading global payments and technology firm, Mastercard is set to provide payments processing solution to Airtel Payments Bank. The payment processing platform will enable the Airtel Payment Bank in providing various payment services like switching, card management along with support for reconciliation and dispute management processes. As per the announcement by Mastercard on February 17, 2017, Mastercard and Airtel Payments bank have also launched India’s first online debit card along with a prepaid card, both of which is accessible through the Myairtel App. The online debit card will enable Airtel Payments Bank customers to make digital payments at over 100,000 online merchants.

  5. Ace shuttler  PV Sindhu has been placed at ___________position in the Badminton World Federation (BWF) women’s single ranking released on February 15, 2017.
    A.Fourth
    B.Sixth
    C.Third
    D.Fifth
    Answer – D.Fifth
    Explanation :
    Indian ace shuttler PV Sindhu achieved her career best Badminton World Federation (BWF) women’s single ranking by being placed at 5th spot on February 15, 2017. Previously the top seeded player was placed at sixth position. She has moved a place ahead of Akane Yamaguchi of Japan, to attain her career best ranking. The only second Indian to be placed among the top 10 spots is Saina Nehwal who has been placed at No. 9.

  6. Which electrical equipment companies made an announcement on February 17, 2017 to acquire Lloyd Electric & Engineering for around Rs 1200 -1500 crore? 
    A.Techno Electric
    B.Havells India
    C.HBL Power
    D.Bharat Bijlee
    Answer – B.Havells India
    Explanation :
    An electrical equipment company, Havells India has announced to acquire Lloyd Electric & Engineering for its consumer durables business for around Rs 1200 -1500 crore on February 17, 2017. Lloyd’s other business divisions includes heat exchangers, original equipment manufacturing and packaged AC business.

  7. Who has been appointed as the Executive Director of Indian Overseas Bank on February 17, 2017?
    A.M K Bhattacharya
    B.S Harishankar
    C.K Swaminathan
    D.P Ramana Murthy
    Answer – C.K Swaminathan
    Explanation :
    Eight Executive Directors (EDs) have been appointed in various public sector banks on the recommendations of Banks Board Bureau on February 17, 2017. Initially, they have been appointments for a three-year period. Neelam Damodharan and Atanu Kumar Das have been appointed as EDs in Bank of India. K Swaminathan has been appointed as ED in Indian Overseas Bank. Ashok Kumar Pradhan has been appointed as the ED in United Bank of India. P Ramana Murthy will be Executive Director of Central Bank of India. Fareed Ahmed Khan has been appointed as the ED in Punjab and Sind Bank. M K Bhattacharya has been appointed as the EDs of Indian Bank. S Harishankar has been appointed EDs of Allahabad Bank.

  8. Which bank has won the 2017 National MSME Excellence Award on February 10, 2017?
    A.Canara Bank
    B.Corporation Bank
    C.Dena Bank
    D.Andhra Bank
    Answer –B.Corporation Bank 
    Explanation :
    Mangalore based public sector lender Corporation Bank was awarded the 2017 National MSME Excellence Award on February 10, 2017 at a function in New Delhi. D V Subramanya Varma, General Manager of Corporation Bank received the award from Union Minister of State for Micro Small and Medium Enterprises, Haribhai P Choudhary. The award is instituted by the Federation of Industry, Trade and Services (FITS).

  9. The 2017 Global Investors’ Summit (GIS) was held in which city of Jharkhand on February 16-17, 2017?
    A.Ranchi
    B.Jamshedpur
    C.Dhanbad
    D.Bokaro Steel City
    Answer – A.Ranchi
    Explanation :
    The two day Global Investors’ Summit (GIS) 2017 was held at Khelgaon in Ranchi, Jharkhand from February 16-17, 2017 with the brand name ‘Momentum Jharkhand’.
    Aim: To promote industrial activity in Jharkhand and establish the state as one of the prime investment destination of Eastern India. The Summit was inaugurated by the Union Finance Minister Arun Jaitley while Prime Minister Narendra Modi addressed the summit through video-conferencing. On the concluding day of the 2017 Global Investors Summit on February 17, 2017, 209 MoUs were signed between nine departments of the Jharkhand  government worth Rs 3,03,987 crore with different companies.

  10. Which renowned Hindi scholar has been named for the 2016 Vyas Samman?
    A.Surendra Verma
    B.Vishwanath Tripathi
    C.Kamal Kishore Goyenka
    D.Sunita Jain
    Answer – A.Surendra Verma 
    Explanation :
    Renowned Hindi litterateur and playwright Surendra Verma has been selected for 2016 Vyas Samman for his novel Kaatna Shami Ka Vriksha Padma Pankhuri Ki Dhar Se. This novel was published in the year 2010. Mr Verma would be presented a cash prize of Rs. 3.50 lakh a citation and a logo for the prestigious award instituted by K K Birla Foundation. Surendra Verma will be the 26th recipient of the honor.

  11. Malaysia based AirAsia has signed an MoU with which Indian state on February 17, 2017 to provide direct two way international flights from the state’s capital city to Kuala Lumpur?
    A.Karnataka
    B.Goa
    C.Odisha
    D.Madhya Pradesh
    Answer – C.Odisha
    Explanation :
    Malaysia-based low-cost airline AirAsia has signed a Memorandum of Understanding (MoU) with the Odisha government on February 17, 2017 to start two-way direct international flights from Bhubaneswar to Kuala Lumpur. The agreement was signed between Nitin Bhanudas Jawale, Director of Tourism Department in Odisha and AirAsia Chief Executive Officer (CEO) Aireen Omar. The airline will begin its flight service from the Biju Patnaik International Airport by end of March 2017.

  12. Which aluminum manufacturing firm has signed an MoU with The Energy and Resources Institute (TERI) on February 16, 2017 for sustainable rehabilitation in the area of mining?
    A.Indian Aluminium Company Limited (IACL)
    B.HINDALCO
    C.Bharat Aluminium Company Limited (BACL)
    D.National Aluminium Company Limited(NALCO)
    Answer – D.National Aluminium Company Limited(NALCO)
    Explanation :
    Odisha based National Aluminium Company Limited(NALCO) has signed Memorandum of Understanding (MoU) with The Energy and Resources Institute (TERI) in New Delhi on February 16, 2017. Objective of the agreement: Scientific, technological and educational activities in the area of mining rehabilitation. The agreement will further strengthen initiatives being undertaken under Sustainable Development Framework (SDF). It will will cover mining rehabilitation methods and technologies, sustainable rehabilitation on red mud areas, capacity building, workshops and preparation knowledge documents on mining rehabilitation.

  13. The National Pension System (NPS) has been launched by which bank on February 16, 2017 to provide financial security in the form of pension to senior citizens?
    A.Catholic Syrian Bank
    B.South Indian Bank
    C.Karnataka Bank Limited
    D.Federal Bank
    Answer –
    C.Karnataka Bank Limited
    Explanation :
    Mangaluru based private sector lender Karnataka Bank Ltd launched National Pension System (NPS) at its corporate office in Mangaluru on February 16, 2017.  Aim: To provide financial security at old age by giving regular income in the form of pension. Under the scheme, one can contribute to NPS while earning and eventually start receiving pension on his/her attaining the age of 60 years to meet their financial needs.

  14. The government has increased the Cash Credit limit for Micro, Small and Medium Enterprises (MSMEs) from 20 percent of turnover to ___________ percent to encourage them to conduct transaction digitally.
    A.30 percent
    B.25 percent
    C.35 percent
    D.22 percent
    Answer – A.30 percent
    Explanation :
    The Union government has increased the Cash Credit (CC) limit for Micro, Small and Medium Enterprises (MSMEs) to 30 percent of turnover from the existing 20 percent to encourage them to conduct businesses digitally.  Through digital means of conducting the business, the balance sheet of companies would be clean and this would help MSMEs to get loans from banks and promote Ease of Doing Business. Presently the taxes for MSMes are calculated at 8 percent for revenue of up to Rs 2 crore. With digital transaction, tax liability will be reduced from 8 percent to 6 percent.

  15. How many MoUs have been signed by the Jharkhand government with different companies at the 2017 Global Investors Summit on February 17, 2017?
    A.219
    B.225
    C.209
    D.250
    Answer – C.209
    Explanation :
    On the concluding day of the 2017 Global Investors Summit on February 17, 2017, 209 MoUs were signed between nine departments of the Jharkhand government worth Rs 3,03,987 crore with different companies. Of the nine departments, the highest amount of MoU was signed by the Department of Industries, Mines and Geology worth Rs 2,10,505 crore. The second highest amount of MoU was signed by the Department of Urban Development and Housing worth Rs 38,320 crore. The Department of Energy signed proposals worth Rs 37,150 crore. Department of Agriculture, Animal Husbandry and Cooperative worth Rs 1,900 cores. Department of Health, Medical Education and Family Welfare worth Rs 2,060 crore. Department of Higher and Technical Education worth Rs 3,231 crore. Department of IT and e-Governance worth Rs 8,499 crore

  16. Which express train has been flagged off by the Government of India on February 17, 2017 on a seven-month journey covering 68 stations across the country to spread awareness about climate change?
    A Science Express Climate Change Rail
    B Science Express Climate Change Journey
    C.Science Express Climate Action Special
    D.Science Express Climate Change Awareness
    Answer – C.Science Express Climate Action Special
    Explanation :
    A ‘Science Express’ train named ‘Science Express Climate Action Special’ was flagged off from Safderjung Railway Station in New Delhi on February 17, 2017 on a seven-month journey to spread awareness about climate change. The Science Express is on a seven-month journey and will cover 68 stations across the country, including Agartala and Lumding in the northeast. The journey will conclude at Gandhinagar station on September 8. The 16 coach express is a collaborative effort of Ministries of Railways, Environment and Science and Technology and will travel to Tripura and to the north bank of the Brahmaputra initially. Three coaches are fitted with solar panels on the roofs. The train will stop at each station for students and others to visit the exhibitions in coaches.

  17. Scientists for the first time have developed the world’s strongest material “Graphene” using the natural material____________ to make it commercially more viable.
    A.Buckwheat
    B.Soybean
    C.Rice
    D.Quinoa
    Answer – B.Soyabean
    Explanation :
    A team of Scientists at Commonwealth Scientific and Industrial Research Organisation (CSIRO) in Australia have developed the world’s strongest material, Graphene  using soybean to make it commercially more viable. Till now graphene production was very costly process. It required highly controlled environment with explosive compressed gases and long hours of operation at high temperatures and extensive vacuum processing for its production. However, the CSIRO scientist used a novel “GraphAir” technology which eliminated the need for such a highly-controlled environment thus making the process of the production very cost effective.

  18. What was the mascot of the 2017 Global Investors’ Summit (GIS)?
    A.Blossoming Palash Flower
    B.Standing Tiger
    C.Flying Red Elephant
    D.Dancing Koel
    Answer – C.Flying Red Elephant 
    Explanation :
    A Flying Red Elephant was the mascot for the Jharkhand’s Global Investors Summit (GIS) 2017. It was designed by AdFactor, a public relation and advertising company based in Mumbai. The elephant was chosen as the mascot since it was the state animal and also represents strength, youthfulness and dreams to be fulfilled. The mascot has green wings and also Sohrai art work on the body. The red colour represents minerals, green wings symbolize forest cover while Sohrai art depicts the fact that Jharkhand doesn’t want to ignore its indigenous art forms and customs.

  19. Which country unveiled its plan on February 14, 2017 to build the first city on Mars by 2117?
    A.Russia
    B.Germany
    C.China
    D.United Arab Emirates (UAE)
    Answer – D.United Arab Emirates (UAE) 
    Explanation :
    The United Arab Emirates (UAE) has unveiled plans to build the first city on Mars by 2117. The announcement was made by Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and Sheikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces on the sidelines of the World Government Summit in Dubai on February 14, 2017. As a part of the long term Mars Plan, the UAE engineers presented a virtual presentation depicting a preliminary concept for the city on Mars for guests to explore which is expected to be about the size of Chicago. For the 100-year national project, the UAE government would collaborate with specialised international organisations and scientific institutes.

  20. RBI has planned to reimburse banks MDR charges on debit cards used by citizens for payment with effect from which date?
    A.February 1, 2017
    B.January 1, 2017
    C.January 31, 2017
    D.January 30, 2017
    Answer – B.January 1, 2017
    Explanation :
    The Reserve Bank of India has decided to reimburse banks Merchant Discount Rate (MDR) charges on debit cards used by citizens for payment with effect from January 1, 2017. In December 2016, the government had decided to absorb the merchant discount rate (MDR) charges in respect of debit card transactions for making payments to it to encourage people to use digital payments post demonetisation. RBI has directed the banks to forward their claim for reimbursement of MDR along with statutory auditor’s certificate to RBI’s Nagpur office on a quarterly basis. For the quarter ending March 2017, the banks have been asked to file claim by April 30. Also, the banks will have to certify that MDR charges for transaction amounts up to Rs 1 lakh have not been collected from the payer.

  21. The Vyas Samman is awarded annually by the K.K. Birla Foundation for which field ?
    A.Literature
    B.Science
    C.Culture
    D.Cinema
    Answer – A.Literature
    Explanation :
    The Vyas Samman is a literary award in India, first awarded in 1991 . It is awarded annually by the K.K. Birla Foundation and includes a cash payout of Rs 250,000 (as of 2005)

  22. What is the scientific name of Soybean ?
    A.Phaseolus vulgaris
    B.Zea mays
    C.Vitis vinifera
    D.Glycine max
    Answer – D.Glycine max
    Explanation :
    Glycine max, commonly known as soybean in North America or soya bean, is a species of legume native to East Asia, widely grown for its edible bean which has numerous uses.