AffairsCloud brings you the complete and important daily Current Affairs 27 February 2020 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 2020 updates.
- Name the Indian Ministry, which is going to organize the 1st Artificial intelligence summit, RAISE 2020- ‘Responsible Artificial intelligence (AI) for Social Empowerment’ between 11-12 April in New Delhi.
1) Ministry of Human Resource Development
2) Ministry of Science and Technology
3) Ministry of Information and Broadcasting
4) Ministry of Electronics and Information Technology
5) Ministry of Earth Sciences
Answer & ExplanationAnswer-4) Ministry of Electronics and Information Technology
The Government of India announced India’s 1st Artificial intelligence summit, RAISE 2020- ‘Responsible Artificial intelligence (AI) for Social Empowerment’, a ‘First-of-its kind’ summit organized by the Government of India in partnership with Industry & Academia & Ministry of Electronics and Information Technology to be held between April 11 & 12, 2020 in New Delhi.
- The Union Cabinet has approved the bill to give Institute of National Importance (INI) status to which of the following institutions?
1) National Institutes of Food Technology at Kundli, Haryana
2) National Institutes of Food Technology at Thanjavur, Tamil Nadu
3) National Institutes of Food Technology at Indore, Madhya Pradesh
4) Both 1) and 2)
5) Both 2) and 3)
Answer & ExplanationAnswer-4) Both 1) and 2)
The Union Cabinet has approved a bill to give the status of Institute of National Importance (INI) to 2 National Institutes of Food Technology at Kundli, Haryana and Thanjavur, Tamil Nadu(TN). The cabinet amended National Institutes of Food Technology, Entrepreneurship & Management (NIFTEM) Bill, 2019 to give status of national importance to the 2 food institutions.
- The Union Cabinet has approved the National Technical Textiles Mission at the cost of Rs. ______ to lead India in the manufacture of technical fabrics used in specific fields like medical, military.
1) 750 Crore
2) 890 Crore
3) 1,160 Crore
4) 1,480 Crore
5) 2,140 Crore
Answer & ExplanationAnswer-4) 1,480 Crore
The Union Cabinet has approved the National Technical Textiles Mission. It will cost Rs 1,480 crore. The objective of this mission is to lead India in the manufacture of technical fabrics used in specific fields like medical, military. Finance Minister Nirmala Sitharaman proposed the formation of the National Technical Textiles Mission in the budget presented on February 1,2020. It is to be executed during 2020-21 to 2023-24.
- The Union Cabinet gave approval for the exemption of India Ports Global Ltd (IPGL) from the Department of Public Enterprises (DPE) guidelines for the smooth execution of Chabahar project. The Chabahar is a port in which of the following country?
Answer & ExplanationAnswer-2) Iran
The Union Cabinet gave its nod for the exemption of the India Ports Global Ltd (IPGL) from the Department of Public Enterprises (DPE) guidelines. This will help in the smooth execution of the Chabahar project in Iran.
- Which is the 1st Government entity to adopt centralised invoicing platform, TreDS to help smaller MSME vendors to access working capital easily?
1) Ordnance Factory Board
2) Prasar Bharti
3) National Housing Bank
4) Integral Coach Factory
5) All India Radio
Answer & ExplanationAnswer-1) Ordnance Factory Board
Ordnance Factory Board (OFB), an industrial organisation, functioning under the Department of Defence Production of Ministry of Defence, Government of India (GoI), has become the 1st government entity to adopt centralised invoicing platform, TreDS (Trade Receivables electronic Discount System which would help smaller MSME (Micro, Small and Medium Enterprises) vendors access working capital easily.
- Find the Indian state, which tops the list of number of outgoing patients for treatment under Pradhan Mantri Jan Arogya Yojana (PM-JAY) based on the analysis of National Health Authority (NHA).
2) Madhya Pradesh
4) West Bengal
5) Uttar Pradesh
Answer & ExplanationAnswer-2) Madhya Pradesh
According to the analysis carried out by the National Health Authority (NHA) on the portability feature of the Narendra Modi government’s flagship insurance scheme, PM-JAY -Pradhan Mantri Jan Arogya Yojana availed by 81,254 patients, People can seek treatment in other states under the PM-JAY, and MP (Madhya Pradesh) tops the list for outgoing patients at a number of at least 11,765.
- During the 43rd session of United Nations Human Rights Council (UNHRC) Sri Lankan Government withdraws from UNHRC’s resolution on war crimes. The Headquarters of UNHRC located at which of the following Country?
1) Vienna, Austria
2) Shanghai, China
3) Brussels, Belgium
4) Paris, France
5) Geneva, Switzerland
Answer & ExplanationAnswer-5) Geneva, Switzerland
The Government of Sri Lanka has formally notified the United Nations (UN) that it is withdrawing from a United Nations Human Rights Council (UNHRC) resolution that called for accountability to human rights abuses committed during a decades-long conflict with Tamil separatists. This announcement was made by Dinesh Gunawardena, Sri Lanka”s foreign minister during 43rd session of the UNHRC in Geneva, Switzerland.
- Name the company, which is the 1st non-life insurance company in India to use WhatsApp Chabot for services like delivery policy & renewal documents?
1) Apollo Munich Health Insurance
2) Bharti AXA General Insurance
3) Edelweiss General Insurance
4) DHFL General Insurance
5) Bajaj Allianz General Insurance
Answer & ExplanationAnswer-2) Bharti AXA General Insurance
Bharti AXA General Insurance becomes the 1st non-life insurer in India to use Whatsapp chatbot for entire services such as policy documents delivery, renewal notices & claim intimation for its customers. It will soon start to sell private cars, 2 wheelers & Travel insurance through Whatsapp.
- The Finance Secretary Rajiv Kumar has launched ‘Baroda Startup Banking’ service to make Bank of Baroda (BoB) preferred partner for Start-up companies. Who is the present Chairman of BoB?
1) Hasmukh Adhia
2) T. N. Manoharan
3) Rajnish Kumar
4) S. Muhnot
5) Pratap Sharma
Answer & ExplanationAnswer-1) Hasmukh Adhia
Finance Secretary Shri Rajiv Kumar has inaugurated the ‘Baroda Startup Banking’ service across 15 cities with the objective of making Bank of Baroda (BoB) a preferred ally of startup companies and connecting more than 2,000 startups over the next 2- years.
Chairman – Hasmukh Adhia, MD&CEO – Sanjiv Chadha, Headquarters – Baroda, Gujarat.
- The Reserve Bank of India (RBI) has ordered to link all their new floating rate loans to medium enterprises with an external benchmark effective from __________.
1) March 31, 2020
2) January 1, 2021
3) July 1, 2020
4) April 1, 2020
5) June 30, 2020
Answer & ExplanationAnswer-4) April 1, 2020
In a bid to strengthen monetary policy transmission, India’s central bank, the Reserve Bank of India (RBI) has ordered banks to link all their new floating rate loans to medium enterprises with an external benchmark effective from April 1, 2020. The interest rate linked to an external benchmark has to be revised at least once in 3 months.
- The RBI has released a working paper titled “Nowcasting Indian GDP growth using a Dynamic Factor Model” which derived a new method to calculate India’s growth (GDP) using ____ indicators.
Answer & ExplanationAnswer-3) 12
Reserve Bank of India (RBI) has come up with a new method of calculating India’s growth through a Working Paper titled “Nowcasting Indian GDP growth using a Dynamic Factor Model” under the RBI Working Paper Series, introduced in March 2011.The Paper is co-authored by Soumya Bhadury, Saurabh Ghosh and Pankaj Kumar. The paper introduces the Dynamic Factor Model of calculating Gross Domestic Product (GDP), using 12 indicators. It should be noted that the indicators are similar but not the same as the dynamic factor models (DFMs) of Stock and Watson (1989).
- The Government of India (GoI) decided to include non-scheduled urban & District cooperative banks under which scheme to make easy access to finance for MSME sector.
1) Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE)
2) Credit Linked Capital Subsidy Scheme (CLCSS)
3) Interest subvention scheme
4) only 1) and 2)
5) All the 1), 2) and 3)
Answer & ExplanationAnswer-5) All the 1), 2) and 3)
The Governmentof India(GOI) has decided to include non-scheduled urban & district central cooperative banks in 3 schemes namely Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE), Credit Linked Capital Subsidy Scheme (CLCSS) & Interest Subvention Scheme to make easy access to finance for the Ministry of Micro, Small & Medium Enterprises.
- Name the Public Sector Bank which displayed Shishu e-Mudra app (providing instant sanction of working capital up to Rs. 50,000 to existing small business customers) at an event in New Delhi.
1) State Bank of India
2) Bank of Baroda
3) Bank of Maharashtra
4) Canara Bank
5) Indian Bank
Answer & ExplanationAnswer-1) State Bank of India
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman unveiled EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking, and the PSB EASE Reforms Annual Report 2019-20 in during an event in New Delhi. The State Bank of India has showcased Shishu e-Mudra app-based lending for instant sanction of working capital up to Rs. 50,000 to existing small business customers in the event.
- As per PSB Ease reform report Annual Report 2019-20 the Gross Non-Performing Assets (G-NPA) reduced from Rs. 8.96 lakh crore in March 2018 to Rs. _______lakh crore in December 2019.
Answer & ExplanationAnswer-4) 7.17
As per PSB Ease reform report Annual Report 2019-20 the Gross Non-Performing Assets (G-NPA) reduced from Rs. 8.96 lakh crore (14.6%) in March 2018 to Rs. 7.17 lakh crore (11.3%) in December 2019.
- Name the Non-Banking Finance Company (NBFC), which launched an SME (Small and medium-sized enterprises) lending product “UDAAN” for women entrepreneurs to provide secured loans upto Rs.40 lakhs.
1) Muthoot Finance Limited
2) Edelweiss Finance & Investments Limited
3) Capri Global Capital Limited
4) Religare Finvest Limited
5) Capital First Limited
Answer & ExplanationAnswer-3) Capri Global Capital Limited
The Non-Banking Financial Company (NBFC) Capri Global Capital Limited (CGCL) has launched an SME (Small and medium-sized enterprises) lending product “UDAAN” for women entrepreneurs to provide secured loans upto Rs.40 lakhs only for Business purpose with the loan repayment period of 10years to 15 years at a competitive interest rate after conducting due diligence.
- The Department for Promotion of Industry and Internal Trade (DPIIT) has amended the Foreign Direct Investment (FDI) policy to allow 100% FDI for insurance Intermediators. The DPIIT comes under which Ministry?
1) Ministry of Labour and Employment
2) Ministry of Corporate Affairs
3) Ministry of Statistics and Programme Implementation
4) Ministry of Commerce and Industry
5) Ministry of Finance
Answer & ExplanationAnswer-4) Ministry of Commerce and Industry
The Department for Promotion of Industry and Internal Trade (DPIIT) (under Ministry of Commerce and Industry) has amended the Foreign Direct Investment (FDI) policy to allow 100% FDI (earlier it was 49%) for insurance Intermediators like insurance brooking, insurance companies, third party administrators, surveyors and loss assessors. 100% FDI is allowed in insurance intermediaries under automatic approval route.
- Name the Public Sector Company, which signed MoU with Central Pollution Control Board (CPCB) to set up air quality monitoring stations at 6 states & 3 UTs.
1) Brahmaputra Cracker and Polymer Limited (BCPL)
2) Bharat Petroleum
3) National Thermal Power Corporation (NTPC)
4) Indian Oil Corporation Limited (IOCL)
5) Airports Authority of India (AAI)
Answer & ExplanationAnswer-3) National Thermal Power Corporation (NTPC)
State run power-giant NTPC (National Thermal Power Corporation Limited) signed an MoU with CPCB (Central Pollution Control Board) to provide financial support for installation & commissioning of Continuous Ambient Air Quality Monitoring Stations (CAAQMS) at 6 states (10 centers) and 3 UTs (3 centers).
States –Madhya Pradesh, Jharkhand, Bihar, Uttar Pradesh, Maharashtra and Tamil Nadu.
UTs – Andaman & Nicobar Islands, Dadra & Nagar Haveli and Daman & Diu.
- The Cabinet has approved 3 MoUs (on combating timber trafficking, conservation of tigers & other wildlife, and in the fields of petroleum products and communications) between Indian and which of the Asian country?
Answer & ExplanationAnswer-2) Myanmar
The Union Cabinet approved 3 MoU (Memorandum of Understanding) for cooperation between India and Myanmar on combating timber trafficking, conservation of tigers & other wildlife, and in the fields of petroleum products and communications.
- Name the person, who has won the Sahitya Akademi’s Translation Prize for 2019 in the category of translation into English for the translation of Kannada novel Kusumabale to English?
1) C.T Indra
2) Rita Kothari
3) Pramod K. Nayar
4) Nila Shah
5) Susan Daniel
Answer & ExplanationAnswer-5) Susan Daniel
Chandrashekar Kambar, President of Sahitya Akademi, announced a total of 23 awards for Sahitya Akademi’s Translation Prize for 2019. In the category of translation into English has been awarded to Kannada novel Kusumabale by Devanur Mahadeva, translated into English by Susan Daniel.
- The two Days Conference on Enhancing Energy Cooperation in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region, held at which of the following country?
1) Kathmandu, Nepal
2) Bangkok, Thailand
3) New Delhi, India
4) Dhaka, Bangladesh
5) Naypyitaw, Myanmar
Answer & ExplanationAnswer-4) Dhaka, Bangladesh
The Two Days Conference on Enhancing Energy Cooperation in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region held at Bangladesh capital Dhaka between February 25-26, 2020.
- As per the report titled “prospect of regional energy cooperation and cross-border energy trade in the BIMSTEC region” released in 2- day Conference on Enhancing Energy Cooperation in the BIMSTEC region. Which country tops in all the energy resources?
5) Sri Lanka
Answer & ExplanationAnswer-3) India
The report titled “prospect of regional energy cooperation and cross-border energy trade in the BIMSTEC region” released in 2- day Conference on Enhancing Energy Cooperation in the BIMSTEC region held at Dhaka, Bangladesh. India tops on all energy resources by having 319,020 MT of coal, 600 MT oil, 45.5 TCF gas, 4,150 MT biomass and 145 GW hydro and 1,000 GW renewable energy respectively.
- The Union Cabinet has approved the Surrogacy (Regulation) Bill, 2020. The draft of the new bill has included the recommendations of 23-member Committee of the Rajya Sabha. Who is the Head of the committee?
1) Subramanian Swamy
2) Roopa Ganguly
3) Bhupender Yadav
4) Suresh Gopi
5) Swapan Dasgupta
Answer & ExplanationAnswer-3) Bhupender Yadav
The Union Cabinet has approved the Surrogacy (Regulation) Bill, 2020. According to the proposed bill, any woman can become a surrogate mother by her own will. Apart from childless Indian couples, widows and divorced women will also get the benefit. The draft of the new bill has included the recommendations of 23-member Committee of the Rajya Sabha headed by BJP MP Bhupender Yadav.
- Name the portal, which was launched by food processing ministry under the operation greens (OG) scheme to monitor the price of TOP (Tomato, Onion & Potato) crops?
Answer & ExplanationAnswer-3) MIEWS
Union Food Processing Industries(FPI) Minister Harsimrat Kaur Badal Launched Market Intelligence & Early Warning System (MIEWS) at Delhi. MIEWS portal is a ‘First-of -its-kind’ platform that monitors the prices of TOP Crops (Tomato,Onion & Potato) & generates alert for timely market intervention under the terms of Operation Greens(OG) scheme for price stabilization during glut situations.
- Tennis Player Maria Sharapova who announced retirement recently (Feb 2020) belongs to which of the following nation?
5) United States
Answer & ExplanationAnswer-1) Russia
Russian tennis star and 5-time Grand Slam winner Maria Yuryevna Sharapova, 32 years old, announced her retirement. She became the World No.1 in 2005 and as a Grand Slam winner with 2 titles in French Open (2012, 2014), an Australian Open (2008), a US [United States] Open (2006) and Wimbledon Open (2004). She won 36 singles titles and netted prize money of $ 38.8 million and the 3rd youngest player to conquer the All England Club’s hallowed grass courts.
- As per International Cricket Council’s (ICC) latest test ranking released on February 26, 2020, who is the No.1 Test Batsman?
1) Virat Kohli
2) Kane Williamson
3) Rohit Sharma
4) Cheteshwar Pujara
5) Steve Smith
Answer & ExplanationAnswer-5) Steve Smith
India’s Cricket Team Captain Virat Kohli slipped to No.2 position in the ICC (International Cricket Council) test rankings for Test batsman with 906 points while Australia’s Steve Smith (911 points) leads Kohli by 5 points to become No. 1 test batsman.
- Mr. K P P Samy who passed away recently (Feb 2020) is the former minister of which Indian state?
1) Andhra Pradesh
4) Tamil Nadu
Answer & ExplanationAnswer-4) Tamil Nadu
Former Tamil Nadu Fisheries Minister and Dravida Munnetra Kazhagam’s (DMK) present Thiruvottiyur (state assembly constituency) Member of Legislative assembly (MLA) Mr. K P P Samy, passed away at age of 57 in Chennai, Tamil Nadu, due to Kidney related illness.
- Right to Protein, a national-level public health initiative, has launched India’s 1st (in 2020) Protein Day with the theme “ProteinMeinKyaHai” on __________ to raise awareness about the health benefits of protein.
1) July 4
2) February 27
3) January 29
4) September 8
5) May 30
Answer & ExplanationAnswer-2) February 27
Right to Protein, a national-level public health initiative, has launched India’s 1st Protein Day on February 27, 2020 to raise awareness about the health benefits of protein. Theme of the Protein Day 2020: ProteinMeinKyaHai. The theme aims to include proteins in our every meal.
STATIC GK based on Current Affairs
- Van vihar national park is located in which Indian state?
Answer & ExplanationAnswer-Madhya Pradesh
As per recent news, Bhopal’s Van Vihar National Park will get A tiger and a tigress (2 new tigers) from Bandhavgarh Tiger Reserve (BTR) in Madhya Pradesh.
- Which is the Nodal agency for the implementation of PM-JAY?
Answer & ExplanationAnswer-National Health Authority (NHA)
National Health Authority (NHA) is the apex body responsible for implementing India’s flagship public health insurance/assurance scheme called “Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.”
- Who is the present president of Myanmar (Feb 2020)?
- Where is the Headquarters of Ordnance Factory Board (OFB) located at?
AnswerAnswer-Kolkata, West Bengal
- Where is the Headquarters of BIMSTEC located at?
- The ‘A’ in CRAR denotes?
Answer & ExplanationAnswer-Assets
CRAR – Capital to Risk (Weighted) Assets Ratio.
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