Questions on General Knowledge and Current affairs SMGKQ001

1.Recently, NITI Aayog has entered into an MoU with which Union Territory to support its administration?
[A] New Delhi
[B] Puducherry
[C] Ladakh
[D] Lakshadweep
Correct Answer: C [Ladakh]
Notes: In key move to promote development and improve the key infrastructure of the newly constituted Union Territory of Ladakh, an MoU has been signed between NITI Aayog and the UT of Ladakh, recently. By this MoU, NITI Aayog would support the UT’s administration through its initiative named D3S-i (i.e) ‘Development Support Services to States for Infrastructure Projects’.
The MoU has a focus on identification of priority projects and to ensure their faster implementation. A team of professionals is expected to be stationed at Ladakh for identification and development of tourism and infrastructure projects in the UT.

2.Which major technology firm recently became the fourth US company to touch $1 trillion valuation?
[B] Samsung
[C] Alphabet
[D] Facebook
Correct Answer: C [Alphabet]
The parent company of Google, Alphabet led by Indian-American Sundar Pichai, touched the milestone of $1 trillion valuation and joined the elite US companies in the list, which includes Apple, Microsoft and Amazon. Apple was the first US company to touch the $1 trillion mark, when it achieved the feat in 2018. During the month of December last year, the founders of Alphabet Larry Page and Sergey Brin stepped down from their leadership roles and announced the then CEO of Google Sundar Pichai as the CEO of both Google and Alphabet.

3.What is the minimum investment limit by clients in a Portfolio Management Service (PMS), as per the directions of Securities and Exchange Board of India?
[A] Rs. 10 Lakhs
[B] Rs. 20 Lakhs
[C] Rs. 25 Lakhs
[D] Rs. 50 Lakhs
Correct Answer: D [Rs. 50 Lakhs]
The Securities and Exchange Board of India (SEBI) had increased the minimum investment limit by clients in a Portfolio Management Service (PMS) to Rs 50 lakh, from the earlier limit of Rs 25 lakh. The base net worth requirement of portfolio managers was raised to Rs 5 crore from the earlier Rs 2 crore. SEBI also directed that more than 25 per cent of the Portfolio Manager’s assets under management cannot be invested in unlisted securities.
The Government has recently released a gazette notification, with these directions of SEBI, which were released in November 2019. The existing Portfolio Managers are given three years’ time to meet the revised norms.

4.Which Private sector bank launched ‘card-less cash withdrawal’ facility from its ATMs, recently?
[A] HDFC Bank
[B] Axis Bank
[C] ICICI Bank
[D] Kotak Mahindra Bank
Correct Answer: C [ICICI Bank]
India’s leading Private sector bank recently launched card-less cash withdrawal’ facility from its ATMs. The facility will be available throughout the day, across all ICICI Bank ATMs, which count to nearly 15000.
For availing the card-less service, the customer needs to log into the ICICI mobile app – ‘iMobile’ and generate a temporary PIN. The customer then can withdraw cash by entering the OTP received and the PIN, without the need of carrying any card. The daily transaction limit and limit per transaction is ₹20,000.

5. The Reserve Bank of India recently cancelled the authorisation certificate of which famous Payment System Operator?
[A] Tata Communications Payment Solutions
[B] Vodafone m-pesa Limited
[C] Infibeam Avenues Limited
[D] Muthoot Finance Ltd.
Correct Answer: B [Vodafone m-pesa Limited]
The Reserve Bank of India (RBI) recently cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa after it voluntarily surrendered its authorisation. RBI authorises the Payment System Operator to set up and operate in India under the Payment and Settlement Systems Act, 2007.
After the closure of Aditya Birla Idea Payments Bank Ltd (ABIPBL), with which Vodafone m-pesa was merged, the company decided to apply for voluntary surrender of authorisation. After the cancellation, the company cannot transact business of issuance and operation of Prepaid payment Instruments but the customers or merchants with a valid claim on the company as a PSO, can approach it till September 30, 2022.

6.The Union Cabinet of India recently approved amendments to bring which category of banks under the regulation of Reserve Bank of India?
[A] Multi-state cooperative banks
[B] Land Development Banks
[C] Primary agricultural societies
[D] Nidhi companies
Correct Answer: A [Multi-state cooperative banks]
The Union Cabinet of India recently approved amendments to the Banking Regulation Act, which will bring multi-state cooperative banks under the regulation of the Reserve Bank of India. This amendment in regulation is expected to prevent malpractices in the co-operative banks and ensure better regulation. The administrative role of the banks will be managed by the cooperative registrars. This decision is taken at the backdrop of the collapse of Punjab and Maharashtra Co-operative (PMC) Bank last year. The banks would also be audited according to the norms stipulated by RBI.

7.What is the objective of the ‘CREDAI Awaas’ mobile application, recently launched by CREDAI?
[A] Redressal of Consumer Grievance
[B] Ease of purchase of Residential properties
[C] Geo-tagging of Residential properties
[D] Approval for Residential properties
Correct Answer: B [Ease of purchase of Residential properties]
Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body of Private Real Estate Developers Associations. It has launched a mobile application called ‘CREDAI Awaas’, which aims to facilitate ease of purchase of residential properties by homebuyers.
Through this application, a credible platform is created for prospective home buyers so that they identify suitable Residential properties and contact their developers directly. The details of the CREDAI member developers are displayed in the application.

8.EASE 3.0, an initiative which was in news recently, is associated with which field?
[A] Customs Clearance
[B] Ease of Banking
[C] Clearance for Industries
[D] Machine Learning
Correct Answer: B [Ease of Banking]
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman recently unveiled the initiative of Public Sector Banks named ‘EASE 3.0’.
The initiative aims to enhance Ease of banking in all customer experiences, using information technology. The EASE agenda was initially launched in 2018 by Public Sector Banks, for providing smart and effective banking to customers.

9.Ajay Tyagi is the Chairman of which regulatory body of India?
Correct Answer: C [SEBI]
Recently, the government has approved a six-month extension to the present Chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi. The Chairman’s term was ending on February 29, which has now been extended to six months from the date or until further orders. Ajay Tyagi replaced the previous Chairman of the Markets Regulator- U K Sinha in 2017.

10.‘More Together’, a multi-lingual ad campaign is launched in India by which technological company?
[A] Google
[B] Microsoft
[C] Facebook
[D] Amazon
Correct Answer: C [Facebook]
Tech Giant Facebook has recently launched its first grand advertising campaign ‘More Together’ in India. India is the biggest market with the largest user base and it is also the first country in the Asia Pacific region, in which the campaign is being launched.
The aim of the campaign is to reveal the potential of the users about how they can perform more things together by using their contacts on the platform. The series of campaigns will be tele-casted in eight languages over the next few weeks.