Current Affairs Quiz Questions and Answers 2020
14 SEPT 2020
(Q.01) The Union Cabinet approved amendments to the Labour code on social security, code on industrial relations, and code on occupational safety and health recently. Who is the present Labour & Employment minister of India (MoS I/C)?
1) Santosh Kumar Gangwar
2) Kiren Rijiju
3) Rao Inderjit Singh
4) Raj Kumar Singh
Ans. :-(1)Santosh Kumar Gangwar
The Union Cabinet led by Prime Minister Narendra Modi approved amendments to the Labour Code on Social Security, Code on Industrial Relations (IR), and Code on Occupational Safety and Health (OSH). The codes will now be moved in the Monsoon Session of Parliament, which starts from September 14, 2020. The Codes includes benefits like pension, medical benefits to gig workers (Independent contractors, online platform workers, contract workers, on-call workers and temporary workers), and will allow states to introduces significant changes to their labour laws framework, such as rules for retrenchment (act of cutting down or reduction) through notifications. Ministry of Labour & Employment: Minister of State (MoS) (Independent Charge) – Santosh Kumar Gangwar.
(Q.02) Union minister Nitin Gadkari targets to increase MSME contribution to GDP from 30% to ______.
Ans. :-(4) 50%
Union Minister for MSME, Nitin Gadkari aims to enhance the MSME contribution to GDP from 30% to 50% and in exports from 49% to 60%.
(Q.03) Union Home ministry has approved to rename the Hubbali railway station in ‘which’ state as Shree Siddharoodha Swamiji railway station?
Ans. :-(3) Karnataka
The Ministry of Home Affairs approved the long pending demand to rename the Hubbali Railway Station as Shree Siddharoodha Swamiji Railway Station, Hubbali in Karnataka after Sri Siddharoodha Swami. The government of Karnataka has to formally issue a Gazette notification for the proposed name change with the spelling of the new name in Devnagri (Hindi), Roman(English) and Regional language.
(Q.04) Which country signed an agreement with India on reciprocal provision of supplies and services?
3) United States
4) North Korea
Ans. :-(2) Japan
India and Japan signed an Agreement concerning Reciprocal Provision of Supplies and Services or Acquisition and Cross-Servicing Agreement (ACSA) between the Armed Forces of India and the Self-Defense Forces of Japan. It establishes a framework for closer cooperation between the Armed Forces of India and Japan in bilateral training activities, United Nations Peacekeeping Operations, Humanitarian International Relief and other mutually agreed activities.
(Q.05) NITI Aayog’s Atal Innovation Mission (AIM) launched Aatmanirbhar Bharat ANIC-ARISE Challenges recently. Who is the mission director of AIM?
1) Ramesh Chand
2) V.K. Saraswat
3) Ramanan Ramanathan
4) None of the Above
Ans. :-(3) Ramanan Ramanathan
Atal Innovation Mission (AIM), NITI Aayog launched Aatmanirbhar Bharat ANIC-ARISE Challenges (Atal New India Challenges in Applied Research and Innovation for medium and Small Enterprises) to stimulate applied research and innovation in Indian Micro, Small & Medium Enterprises (MSMEs) and startups. It will be driven by Indian Space Research Organization (ISRO) and four ministries namely Ministry of Defence, Ministry of Food Processing Industries, Ministry of Health and Family Welfare and Ministry of Housing and Urban Affairs to facilitate innovative solutions to sectoral problems. Atal Innovation Mission (AIM): Mission Director – Ramanan Ramanathan.
(Q.06) India’s GDP to contract by _______ in FY21 as per estimation of Nomura.India, Australia along with which country participated the 1st trilateral dialogue on economic, strategic challenges in Indo-Pacific recently?
Ans. :-(2) France
The first trilateral dialogue between foreign secretaries from India, France and Australia was held virtually to discuss geo-strategic challenges, enhancing cooperation and to build strong bilateral relations between the trio to ensure a peaceful, secure, prosperous and rules-based Indo-Pacific Region. The meeting was co-chaired by India’s foreign Secretary Harsh Vardhan Shringla, Secretary-General of the Ministry of Europe and Foreign Affairs of France, Francois Delattre; Australian Department of Foreign Affairs and Trade Secretary, Frances Adamson.
(Q.07) World Health Organization (WHO) has set a target to achieve a world free of industrially produced trans fats by which year?
Ans. :-(4) 2023
In accordance with the report titled, “Countdown to 2023: WHO report on global trans-fat elimination 2020” released on September 8, 2020, so far 58 countries have introduced laws that will protect 3.2 billion people from the harmful substance by the end of 2021. Meanwhile more than 100 countries still need to take actions to remove these harmful substances from their food supplies including India, the country with most coronary heart disease deaths due to trans fats. To achieve a world free of industrially produced trans fats by 2023, WHO recommended that countries should set mandatory limits for industrially produced trans fats to 2% of oils and fats in all foods or to ban partially hydrogenated oils (PHO). WHO recommends that trans-fat intake be limited to less than 1% of total energy intake, which translates to less than 2.2 g/day with a 2,000-calorie diet.
(Q.08)According to the World Wildlife Fund (WWF)’s Living Planet Report 2020, the global vertebrate population declined to an average of ______ between 1970 and 2016?
Ans. :- (2) 68%
In accordance with the World Wildlife Fund’s (WWF) Living Planet Report 2020, the global vertebrate population declined to an average of 68% between 1970 and 2016. The reasons behind this decline is changes in land and sea use, overexploitation of species, high pollution levels, climate change, habitat loss and degradation, including deforestation, driven by humanity.
(Q.09) Which state government has relaunched Deendayal Antyodaya Rasoi scheme?
3) Tamil Nadu
4) Madhya Pradesh
Ans. :-(4) Madhya Pradesh
Madhya Pradesh Government during its 5th virtual cabinet meeting decided to reintroduce Deendayal Antyodaya Rasoi Scheme to provide nutritious and quality food to underprivileged people at a subsidised rate. The scheme will be implemented by the Departments of Food and Civil Supplies and Urban Development. The funds for the scheme will be raised through Department of Industrial Policy and Investment Promotion under Corporate Social Responsibility (CSR)?
(Q.10) The gross Non Performing Assets in public sector banks was reduced to _______ in March 2020 from Rs 8.96 lakh crore in March 2018.
1) Rs 9.24 lakh crore
2) Rs 6.78 lakh crore
3) Rs 7.25 lakh crore
4) Rs 8.96 lakh crore
Ans. :-(2) Rs 6.78 lakh crore
The Gross NPAs reduced from Rs 8.96 lakh crore in March-2018 to Rs 6.78 lakh crore in March-2020. Asset quality has improved significantly, with the net NPA ratio reduced from 7.97% in March 2018 to 3.75% in March 2020. There is a sharp decline in fraud occurrence from 0.65% of advances during FY10-FY14 to 0.06% in FY19-20. Record recovery of Rs 2.27 lakh crore in FY19-FY20 due to newly setup dedicated stressed account management verticals in PSBs. Number of PSBs under Prompt Corrective Action (PCA) reduced to three. The provision coverage ratio of 80.9% is highest in eight years.
(Q.11) Which bank ranked top in EASE 2.0 awards for FY19-20 in top performing banks category?
1) Oriental Bank of Commerce
2) State Bank of India
3) Bank of Baroda
4) Central Bank of India
Ans. :-(3) Bank of Baroda
The EASE 2.0 awards for FY19-20 were presented in 3 categories viz. Category 1: Theme-Wise Winners, Category 2: Top Improvers, and Category 3: Top Performing Banks The awardees in these categories are Bank of Baroda (BoB), State Bank of India (SBI), Oriental Bank of Commerce (OBC), Bank of Maharashtra, Central Bank of India, Corporation Bank, Punjab National Bank (PNB), Union Bank of India (UBI), and Canara Bank.
Top Performing Banks(Ease Reforms Index 2.0):
Rank Bank 1 Bank of Baroda 2 State Bank of India 3 Oriental Bank of Commerce
(Q.12) Which company launches Central Bank Digital Currencies (CBDCs) testing platform?
1) American Express
Ans. :-(2) Mastercard
Mastercard launched Central Bank Digital Currencies (CBDCs), a Virtual Testing Environment for Central Banks to Assess and Explore National Digital Currencies.
(Q.13) Which insurance company partnered with NSDL payments bank to offer insurance products?
1) Life Insurance Corporation of India
2) Max Life Insurance Company
3) HDFC Life Insurance Company
4) ICICI Prudential Life Insurance Company
Ans. :-(4) ICICI Prudential Life Insurance Company
ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) has entered into a corporate agency agreement with NSDL Payments Bank, a subsidiary of NSDL(National Securities Depository Ltd), the 1st and largest depository in India. ICICI Prudential Life will offer its customer centric protection and savings products to the customers of NSDL Payments Bank under the agreement.
(Q.14) Which company has launched service named ‘Cash Advance’, a collateral free line of credit to increase MSME cash flow?
Ans. :-(3) Razorpay
Razorpay, leading financial solutions company launched its tech-enabled services “Cash Advance” – a collateral free line of credit for businesses to support and recover the cash flow of the capital of Micro, Small, and Medium Enterprises(MSMEs).
(Q.15) Name the company which collaborated with NITI Aayog to launch ‘SheCodes’ innovation challenge.
2) Tata Consultancy Services
3) Dell Technologies
Ans. :-(3) Dell Technologies
Dell Technologies in association with Atal Innovation Mission, an initiative of government think-tank Niti Aayog, launched the ‘SheCodes’ Innovation Challenge aimed to encourage girls to create, tinker, sustain and innovate.
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