AffairsCloud brings you the complete and important daily current affairs March 5 2018 Quiz to achieve more marks in Banking , Insurance, UPSC, SSC, CLAT , Railway  and all other competitive Exams. We have prepared the current affairs quiz from our current affairs today updates.

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  1. President Tran Dai Quang was on an official visit to India from 2nd – 4th March 2018. Which country’s president is he?
    1. Norway
    2. Italy
    3. Canada
    4. Vietnam
    5. Germany
    Answer – 4. Vietnam
    Explanation :
    Vietnam President Tran Dai Quang was on an official visit to India from 2nd – 4th March 2018. Tran Dai Quang visited India at the invitation of Indian President Ram Nath Kovind. Vietnam is an important pillar in India’s Act East Policy and is currently the country coordinator for India with the Association of Southeast Asian Nations (ASEAN).India, Vietnam to take steps to achieve USD 15 billion trade target. After the signing of above stated MoUs, a joint statement was issued mentioning that India and Vietnam will take concrete measure to achieve the bilateral trade target of USD 15 billion by 2020. In context of this news, it is to be noted that, for 2016-17, India-Vietnam trade stood at $6.24 billion. As per the joint statement, India and Vietnam have agreed to hold the next Meeting of the Joint Sub-Commission on Trade in Vietnam’s capital city Hanoi in 2018.

  2. In which Indian city, the Union Information and Broadcasting Minister, Smiriti Irani inaugurated 2018 edition of FICCI Frames, which was athree-day global convention covering the entire gamut of Media and Entertainment Industry?
    1. Kolkata
    2. Mumbai
    3. Darjeeling
    4. Pune
    5. Patna
    Answer – 2. Mumbai
    Explanation :
    Union Information and Broadcasting Minister, Smiriti Irani inaugurated 2018 edition of FICCI Frames in Mumbai. 2018 edition of FICCI Frames, the Federation of Indian Chambers of Commerce and Industry’s (FICCI’s) annual convention on the film and entertainment market is a three-day global convention covering the entire gamut of Media and Entertainment Industry viz. films, broadcasts (TV & Radio), Print Media etc. Nearly 2000 Indian and 800 foreign delegates from Media and Entertainment sector will be attending this event. 35 knowledge sessions will be conducted during the course of this event and 200 high profile speakers from across the world will share their views.

  3. Which state Government inaugurated the week-long 29th edition of annual International Yoga Festival (IYF)?
    1. Odisha
    2. Mizoram
    3. Punjab
    4. Bihar
    5. Uttarakhand
    Answer – 5. Uttarakhand
    Explanation :
    Uttarakhand Chief Minister Trivendra Singh Rawat inaugurated the week-long 29th edition of annual International Yoga Festival (IYF) at Parmarth Niketan ashram in Rishikesh. However, 29th International Yoga Festival was officially inaugurated by Vice President, Venkaiah Naidu on March 3, 2018. The International Yoga Festival has been organised by Parmarth Niketan Ashram in association with Union Ministry of AYUSH, Uttarakhand Tourism Development Board and Garhwal Mandal Vikas Nigam Ltd. In addition to daily yoga classes, 200 sessions on topics such as Ashtanga yoga, Bhakti yoga, Kundalini yoga and Ganga yoga will be conducted during the course of this event. More than 80 saints, yogacharyas, presenters and experts from nearly 20 countries will take part in these sessions. Over 1500 yoga practitioners from 94 countries have gathered in Rishikesh for this week-long festival.

  4. India holds which rank in Global Firepower (GFP) list 2017?
    1. 1st
    2. 2nd
    3. 3rd
    4.4th
    5. 5th
    Answer – 4.4th
    Explanation :
    In terms of military prowess, India has ranked 4th out of 133 countries on the Global Firepower (GFP) list 2017. Ranking in Global Firepower List is based on Country’s Power Index Score, which is arrived at by assessing the countries on 50 parameters. Available manpower is the most important parameter and thus countries with large population tend to rank higher. Geographical factors, natural resources, logistical efficiency and local industry also affect the final ranking. Although nuclear stockpiles are not taken into consideration, recognised/suspected nuclear weapons possession fetches a bonus. More importantly, ranking does not solely rely on number of weapons available, rather it focuses on weapons diversification.

  5. Which country has announced that, it will launch its own cryptocurrency and it will be circulated as legal tender along with the U.S. dollar?
    1. Nauru
    2. Palau
    3. Marshall Islands
    4. Tuvalu
    5. Fiji
    Answer – 3. Marshall Islands
    Explanation :
    Marshall Islands has announced that, it will launch its own cryptocurrency and it will be circulated as legal tender along with the U.S. dollar. This cryptocurrency is named SOV. Its legal tender status has been approved by the parliament of Marshall Islands. It has been said that, the SOV will be issued to the public through an initial coin offering. Marshall Islands has limited the SOV supply at 24 million tokens to prevent inflation. SOV will function like regular money. Marshall Islands has tied up with Neema, an Israeli financial technology startup, for issuing SOV. The launch date of SOV has not yet been decided. SOV functions on “Yakwe framework”. This system mandates users to identify themselves on the blockchain. This will eliminate the anonymity problem that affected bitcoin.

  6. Central Government has constituted a Steering Committee to consider various issues relating to development of Financial Technology (Fintech) space in India. This committee will be headed by _____________________?
    1. Prime Minister
    2. President
    3. Secretary of Corporate Affairs
    4. Secretary of NABARD
    5. Secretary of Department of Economic Affairs(DEA)
    Answer – 5. Secretary of Department of Economic Affairs(DEA)
    Explanation :
    Central Government has constituted a Steering Committee to consider various issues relating to development of Financial Technology (Fintech) space in India. This committee will be headed by Secretary of Department of Economic Affairs(DEA) under Ministry of Finance. Objective of this committee is to come up with measures aimed to make Fintech related regulations in India, more flexible and generate enhanced entrepreneurship. While considering various related issues, the Steering Committee will focus on how Fintech can be leveraged to enhance financial inclusion of Micro, Small and Medium Enterprises (MSMEs). Idea to constitute such committee for Fintech related issues was first announced by Union Finance Minister, Arun Jaitley while presenting the Union Budget 2018.

  7. In a bid to increase the importance of services sector and to encourage banks to lend more to this sector, Reserve Bank of India (RBI) has decided to remove the per borrower loan limits for ________________ involved in services, for classification under priority sector lending?
    1. IT Companies
    2. MSME’s
    3. Agricultural Companies
    4. Film Industry
    5. All the above
    Answer – 2. MSME’s
    Explanation :
    The Reserve Bank of India (RBI) has decided to remove the per borrower loan limits to Micro/ Small and Medium Enterprises (Services) for classification under priority sector lending. This has been done in a move to increase importance of the services sector and to encourage banks to lend more to the services sector. Loans to Micro/ Small and Medium Enterprises (Services) up to Rs 5 crore and Rs 10 crore, respectively, was considered priority sector lending (PSL) previously. Now the per borrower loan limits to Micro/ Small and Medium Enterprises (Services) have been removed. Hence all bank loans to MSMEs that are involved in services as specified in terms of investment in equipment under the MSMED Act, 2006,will be considered priority sector lending without any credit limit.

  8. Which Bank introduced a new variable interest rate mortgage product that will be linked to the 90-day Treasury bills and will change every quarter?
    1. Axis Bank
    2. HDFC Bank
    3. Union bank of India
    4. Citibank
    5. IDBI Bank
    Answer – 4. Citibank
    Explanation :
    Citibank introduced a new variable interest rate mortgage product that will be linked to the 90-day Treasury bills and will change every quarter. Citibank will charge a spread above the 90-day Treasury bill rate based on the borrower profile. Changes will be made in the rates once in every quarter on March 1, June 1, September 1 and December 1. Citibank will take the t-bill rate on 12th of February, May, August and November from Financial Benchmarks India Pvt Ltd to fix the benchmark rate. Citibank has chosen 90 day treasury bills since it provides better accuracy on local rates. Also, resetting the rates every quarter, makes sure that, the rates are in line with market reality.

  9. Who is the first Hindu woman to be elected to Pakistan’s Senate?
    1. Fathima Beevi
    2. Kamala Harris
    3. Thahira S
    4. Krishna Kumari Kohli
    5. Suhaina Beham
    Answer – 4. Krishna Kumari Kohli
    Explanation :
    Krishna Kumari Kohli became Pakistan’s first Hindu woman to be elected to Senate. Krishna Kumari Kohli contested on behalf of Pakistan People’s Party (PPP) from a constituency reserved for women candidates in Tharparkar district. She has won the election conducted on 3rd March 2018 and has become the first Hindu woman of Pakistan to be elected to Senate. Krishna Kumari Kohli was born in 1979 in a poor family. She was married off when she was in ninth class. She continued her education as husband and family supported her education. She completed her master’s degree in sociology from University of Sindh in 2013.

  10. Who was made the brand ambassador of Dream11, a gaming platform?
    1. Hardik Pandya
    2. Sachin Tendulkar
    3. MS Dhoni
    4. Amir Khan
    5. Priyanka Chopra
    Answer – 3. MS Dhoni
    Explanation :
    Mahendra Singh Dhoni was named the brand ambassador of Dream11, a gaming platform. Mahendra Singh Dhoni will be the new face of Dream11’s multi-channel marketing campaigns and brand engagement activities. Dream11 has a user base of 2 crore players currently. Its main products are related to cricket, football, kabaddi and basketball.

  11. 90th Academy Awards ceremony, popularly referred to as Oscars 2018, honouring the best films of 2017 was held in Los Angeles, California, United States. Which movie won the maximum number of awards?
    1. Darkest Hour
    2. Call Me by Your Name
    3. A Fantastic Woman
    4. The Shape of Water
    5. Blade Runner 2049
    Answer – 4. The Shape of Water
    Explanation :
    90th Academy Awards ceremony, popularly referred to as Oscars 2018, honouring the best films of 2017 was held in Los Angeles, California, United States. The ceremony was hosted by comedian Jimmy Kimmel. Fantasy drama film, ‘The Shape of Water’ got the most awards (in 4 categories) including the Best Picture Award. ‘The Shape of Water’ was also credited with most nominations (in 13 categories).

  12. Who won the rapid event at the 11th Tal Memorial chess in Moscow, Russia?
    1. Viswanathan Anand
    2. Garry Kasparov
    3. Anatoly Karpov
    4. Bobby Fischer
    5. Shakhriyar Mamedyarov
    Answer – 1. Viswanathan Anand
    Explanation :
    Viswanathan Anand won the rapid event at the 11th Tal Memorial chess in Moscow, Russia. Viswanathan Anand completed the rapid event with 6 points and emerged as the winner. Shakhriyar Mamedyarov finished second with 5 points. It was a 10-player event. It was played as a single round-robin competition. Players should make all of their moves in 25 minutes.

  13. i) He was a disability rights activist
    ii) He also held the position of Global Chair of Disabled People International (DPI)
    iii) He was born in Aligarh, Uttar Pradesh. He had worked for the welfare for disabled people.
    iv) He had lead protests that urged the passing of the Persons with Disabilities Act in 1992.
    Name the person.
    1. Viktor Korchnoi
    2. Javed Abidi
    3. Emanuel Lasker
    4. Boris Spassky
    5. Judit Polgar
    Answer – 2. Javed Abidi
    Explanation :
    On 4th March 2018, Javed Abidi, a disability rights activist, died due to chest infection. Javed Abidi was 53 years old. He was the Director of the National Centre for Promotion of Employment for Disabled People (NCPEDP). He also held the position of Global Chair of Disabled People International (DPI). He was born in Aligarh, Uttar Pradesh. He had worked for the welfare for disabled people. He had lead protests that urged the passing of the Persons with Disabilities Act in 1992.

  14. Sarat Mohanty passed away recently. Who was he?
    1. Dietician
    2. Comedian
    3. Wrestler
    4. Horse Racer
    5. Bike Racer
    Answer – 2. Comedian
    Explanation :
    On 3rd March 2018, Sarat Mohanty died following a long term illness, at a hospital in Odisha. Sarat Mohanty was 88 years old. He was a comedian. He had acted in several Odia movies. He had also acted in various TV serials. His popular works are: Laxmi, Amadabata, Kaa, Stree, Puja Phula, Bhulihuena, Malhajanha, etc.

STATIC GK based on Current Affairs

  1. Which is the capital of Vietnam?
     Hanoi

  2. ‘We Understand Your World’ is the tagline of which bank?
     HDFC Bank

  3. RBI Commenced Operations on?
     1st April 1935

  4. Where is the headquarters of Citibank located?
     New York City

  5. Oscar was First awarded in?
     1929