Current Affairs Quiz for CDS and AFCAT: 3rd January



Current Affairs is an important subject in various exams like NDA, CDS, AFCAT, CAPF and other Defence Exams. You cannot master current affairs in one day and so you need to prepare them regularly. Here at Defence Adda, we provide you with the quizzes based on daily event affairs that are important for your exams.

Q1. Who among the following has sworn in as Brazil’s new President?
(a) Luiz InĂ¡cio Lula da Silva
(b) Jair Bolsonaro 
(c) Michel Temer
(d) Dilma Rousseff

Q2. Which of the following organisation releases India's Financial Stability Report?
(a) Finance Ministry
(b) State Bank of India
(c) Reserve Bank of India
(d) International Monetary Fund

Q3. As per the Financial Stability Report, gross non-performing assets (GNPA) ratio of scheduled commercial banks (SCBs) has declined from 11.5% in March 2018 to ______ in September 2018.
(a) 10.3%
(b) 11.1%
(c) 10.8%
(d) 11.3%

Q4. France has introduced its own tax, GAFA Tax on global internet and technology firms. What does F stands for in GAFA?
(a) Fugitive
(b) Farlando
(c) Facebook
(d) Finance

Q5. Up to what amount of existing debt the Reserve Bank has allowed a one-time restructuring for the companies which have defaulted on payment, but the loans given to them have continued to be classified as standard assets?
(a) Rs 20 crore
(b) Rs 25 crore
(c) Rs 15 crore
(d) Rs 10 crore

Q6. Which of the following Payments Bank has been allowed to restart opening new accounts for its consumers after almost six months of the ban by the RBI?
(a) Paytm Payments Bank
(b) Airtel Payments Bank
(c) Fino Payments Bank
(d) India Post Payments Bank

Q7.  Which pair of countries have officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO).
(a) North Korea and Pakistan
(b) China and Russia
(c) The United States and Canada
(d) The United States and Israel

Q8. The MSME ministry has established an export promotion cell to create a sustainable ecosystem and proposed to formulate a governing council. Who will chair this proposed governing council?
(a) Secretary of the Corporate affairs ministry
(b) Minister of MSME
(c) Secretary of the MSME ministry
(d) Minister of Heavy Industries and Public Enterprises

Q9. In which of the following state, Petroleum and Natural Gas Minister, Dharmendra Pradhan launched ‘Ujjwala Sanitary Napkins’ initiative?
(a) Odisha
(b) Maharashtra
(c) Goa
(d) Delhi

Q10. In its ‘Growth Outlook for 2019’, Confederation of Indian Industry (CII) stated that India's GDP growth will be_______ in 2019.
(a) 7.3%
(b) 7.7%
(c)  7.5%
(d) 7.8%

Q11. With which of the following organisation, Allahabad Bank has signed a bancassurance pact to offer a holistic financial planning solution to consumers?
(a) Life Insurance Corporation of India
(b)  SBI Life Insurance
(c) Max Life Insurance 
(d) ICICI Prudential Life Insurance 

Q12. Who has become the highest international wicket-taker across formats in 2018?
(a) Jasprit Bumrah
(b) Ishant Sharma
(c) James Anderson
(d) Dale Steyn

Q13. Who has been appointed the new Railway Board Chairman?
(a) Vikram Bhargava
(b) Sudhir Bhargava
(c) V K Yadav
(d) V S Reddy

Q14. Which country has withdrawn its membership from Organization of the Petroleum Exporting Countries (OPEC)?
(a) Turkey
(b) The United States
(c) Qatar 
(d) Israel

Q15. Who is the new managing director and CEO of the Axis Bank?
(a) Amitabh Chaudhry 
(b) Shikha Sharma
(c) Sandeep Bakhshi
(d) Deepak Parekh



SOLUTIONS

S1. Ans.(b)
Sol. Jair Bolsonaro was sworn in as Brazil’s President in a ceremony at Brazil’s National Congress Building. Bolsonaro is a former Army captain and admirer of the country’s 1964-1985 military dictatorship. 

S2. Ans.(c)
Sol. The Reserve Bank of India releases India's Financial Stability Report (FSR). The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. The Global Financial Stability Report (GFSR) is released by the International Monetary Fund (IMF).

S3. Ans.(c)
Sol. As per the Financial Stability Report, The asset quality of banks showed an improvement with the gross non-performing assets (GNPA) ratio of SCBs declining from 11.5% in March 2018 to 10.8% in September 2018. Under the baseline scenario, the GNPA ratio may decline from 10.8% in September 2018 to 10.3% in March 2019.

S4. Ans.(c)
Sol. France has been pushing hard for a new so-called “GAFA tax” — named after Google, Apple, Facebook and Amazon — to ensure the global giants pay a fair share of taxes on their massive business operations in Europe. 

S5. Ans.(b)
Sol. Reserve Bank allowed a one-time restructuring of existing debt up to Rs 25 crore for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. 

S6. Ans.(a)
Sol. The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban. Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms.

S7. Ans.(d)
Sol. The United States and Israel officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO) with the close of 2018. The countries had announced their decisions in 2017 of withdrawing from the agency, accusing it of bias against Israel. 

S8. Ans.(c)
Sol. The MSME ministry has established an export promotion cell to create a sustainable ecosystem for micro, small and medium enterprises (MSMEs). The ministry has also proposed to formulate a governing council that will be chaired by the secretary of the MSME ministry.

S9. Ans.(a)
Sol. Petroleum and Natural Gas Minister, Dharmendra Pradhan launched ‘Ujjwala Sanitary Napkins’ initiative saying it will go a long way in making Odisha’s 2.25 crore women empowered and self-reliant. Under the novel initiative, which will cover 93 blocks in 30 districts of Odisha, oil marketing companies (OMC) will set up 100 manufacturing units at the Common Service Centres (CSC) at an estimated cost of Rs 2.94 crore.

S10. Ans.(c)
Sol. In its ‘Growth Outlook for 2019’, Confederation of Indian Industry (CII) stated that the GDP growth will be in the range of 7.5% in 2019.

S11. Ans.(b)
Sol. Allahabad Bank and SBI Life Insurance came together and signed a bancassurance pact, to offer a holistic financial planning solution to consumers. 

S12. Ans.(a)
Sol. The 25-year-old fast bowler Jasprit Bumrah became the highest international wicket-taker across formats in 2018. He took a total of 78 wickets in the calendar year. Bumrah surpassed South Africa’s Kagiso Rabada’s tally of 77 wickets to reach the milestone.

S13. Ans.(c)
Sol. General Manager, South Central Railway, V K Yadav has been appointed the national transporter’s senior-most bureaucrat by the Appointments Committee of the Cabinet. Yadav belongs to the 1980 batch of the Indian Railway Service of Electrical Engineers. 

S14. Ans.(c)
Sol. Qatar has withdrawn its membership from Organization of the Petroleum Exporting Countries (OPEC). The country had sent an official notification to the OPEC expressing its wish to pull out and to focus on its liquefied natural gas production in December.

S15. Ans.(a)
Sol. Axis Bank announced its Managing Director and CEO Shikha Sharma has retired from the post and Amitabh Chaudhry is the new managing director and CEO of the bank with effect from January 1, 2019.

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