Daily GK and Current Affairs Quiz – 28th April 2023

Correct Answer:  B. IIT Bombay

Explanation:  Indian Institute of Technology (IIT) Bombay’s SHUNYA (Sustainable Housing for Urbanizing Nation by its Young Aspirants) team secured second place in Solar Decathlon Build Challenge in the United States for their innovative zero-energy house designed to address air quality challenges in Mumbai’s hot and humid climate. SHUNYA is a student-driven technical team of IIT Bombay working to build a sustainable future. It was the only team representing India in this competition out of 32 teams from across the world.

The house developed by the team has a 14-kW solar PV Plant with an advanced in-house automation system. The Automation system controls the in-house developed dehumidifier system designed especially for the climatic conditions of coastal regions.  This house consumes nearly 80% less water than the regular house with its water efficiency fixtures, recycling system, and rainwater harvesting system.  The team includes more than 50 students with engineering, architectural, and management backgrounds from more than 16 departments of IIT Bombay.

Correct Answer:  B. Reliance General Insurance

Explanation:  Reliance General Insurance has become the first general insurance company to accept RBI’s Central Bank Digital Currency (CBDC) e-Rupee (e₹) for premium payments. The insurer has tied up with YES Bank to facilitate the collection of premiums in digital mode using the bank’s e-rupee platform. Customers who have an active e-rupee wallet with any bank can scan Reliance General Insurance’s CBDC QR code to make easy, safe, instant, and green payments.

e-rupee is a digital token, equivalent to a banknote, and is legal tender or sovereign currency backed by the RBI. It removes all the issues of handling physical cash and offers the same anonymity as a banknote. Moreover, since all transactions are done through an RBI-regulated entity, it reduces banknote-related risks such as anti-money laundering, the counterfeiting of currency, etc, the company said in a release.

Correct Answer:  D. Power Grid Corporation of India Ltd.

Explanation:  Power Grid Corporation of India Limited (PGCIL), a Maharatna CPSU of the Ministry of Power, Government of India, has been conferred with the Global Gold Award by The Green Organisation. The award was given on 25 April at the Green World Awards 2023 ceremony held in Miami, USA. Dr. V.K. Singh, Director (Personnel), POWERGRID received the award on behalf of the organization. The award has been given to POWERGRID for improving agricultural productivity and rural livelihoods through watershed management, community participation and better crop management practices in 10 villages of Jayapatna block of Kalahandi district in Odisha. It is a 60-month farmer centric project which started in late October 2019.

POWERGRID lays emphasis on getting involved in several CSR programs for the community and the environment. With a well-optimized exit policy for its CSR projects, POWERGRID values community participation through effective collaboration, capacity building and sustainability in line with the United Nations Sustainable Development Goals.

Correct Answer:  A. Zimbabwe

Explanation:  To combat the falling value of the Zimbabwean currency, the Reserve Bank of Zimbabwe (RBZ) has announced plans to introduce a gold-backed digital currency. The digital gold tokens will be a form of electronic money, backed by gold held at the RBZ. This will enable holders of small amounts of Zimbabwean dollars to exchange their money for tokens and protect themselves against exchange rate fluctuations. The Zimbabwean economy operates on a dual currency structure, with the Zimbabwean dollar and the U.S. dollar in use. The U.S. dollar currently dominates and accounts for about 70% of domestic transactions, according to the RBZ. In an effort to halt the collapse of the Zimbabwean dollar and reduce the demand for the U.S. dollar, the RBZ introduced gold coins in July 2022.

Correct Answer:  D. Australia

Explanation:  The upcoming Quad Summit in Sydney is set to mark a significant milestone in the growing cooperation between the four democracies of the Indo-Pacific region. The Quad, comprising the United States, Japan, India, and Australia, has been seeking to promote a free and open Indo-Pacific, with a focus on maritime security, infrastructure development, and economic integration.

The third in-person Quad Summit, which will be held on May 24, will see the participation of US President Joe Biden, Japanese Prime Minister Fumio Kishida, Indian Prime Minister Narendra Modi, and Australian Prime Minister Anthony Albanese. The leaders are expected to discuss a range of issues related to regional security, economic development, and pandemic recovery.

Correct Answer:  B. Hari Hara Mishra

Explanation:  Hari Hara Mishra has been appointed as the new Chief Executive Officer (CEO) of the Association of Asset Reconstruction Companies (ARCs). The ARCs are the voice of all Asset Reconstruction Companies in India and have been active for over eight years. Currently, there are 28 ARCs registered with the Reserve Bank of India. Hari Hara Mishra is an experienced professional in the field of asset reconstruction. He began his career with the State Bank of India in 1982 and worked there until 2004. Since then, he has been associated with the asset reconstruction sector in various executive and director level roles.

Asset Reconstruction Companies (ARCs) are financial institutions that specialize in the acquisition and resolution of non-performing assets (NPAs). NPAs are loans and other financial assets that are in default, or in danger of default, and are considered a major problem for banks and other financial institutions.

Correct Answer:  C. 4.41%

Explanation:  Indian banks have stayed resilient and bad loans have fallen substantially, according to Reserve Bank of India. The gross non-performing assets ratio of banks have fallen to 4.41% at end-2022. This is the lowest since March 2015 and compares with 5.8% in end-March 2022 and 7.3% as of March 31, 2021. The capital adequacy ratio of banks stood at 16.1% at the end of December, well above the regulatory requirement.

Correct Answer:  B. Arun Kashyap

Explanation:  SpiceJet, one of India’s leading airlines, has announced the appointment of Arun Kashyap as its new Chief Operating Officer (COO) in April 2023. This is his second stint at SpiceJet, having previously served as chief program and transformation officer at the airline. He has previously also worked with flydubai, Jet Airways and Oman Air.

Kashyap is an experienced industry veteran with 25 years of experience and has previously worked with Air India, flydubai, Jet Airways and Oman Air. As COO, Kashyap will play a key role in the growth of the airline and will report to Ajay Singh, the Chairman and Managing Director of SpiceJet. SpiceJet operates a fleet of Boeing 737s and Q-400s and is one of the country’s largest regional players operating multiple daily flights under the Regional Connectivity Scheme.​

Correct Answer:  B. Boxing

Explanation:  Asian Games gold medallist Indian boxer Kaur Singh, who once fought the legendary Muhammad Ali in an exhibition bout, died at a hospital in Kurukshetra, Haryana. He  fought a 4-round exhibition match with Ali in January 1980. He won the heavyweight boxing gold medal at the 1982 Asian Games in New Delhi. He was conferred with the Arjuna Award in 1982 and Padma Shri in 1983. Punjab Chief Minister Bhagwant Mann expressed grief over Kaur Singh’s death and praised his contributions to Indian boxing. Kaur Singh’s life story will be included in the physical education textbooks of classes 9 and 10 in Punjab.

Correct Answer:  B. Rajkumar Rao

Explanation:  The 68th edition of the Hyundai Filmfare Awards in association with Maharashtra Tourism were announced. The 68th edition of the Hyundai Filmfare Awards with Maharashtra Tourism was held recently in Mumbai. Some of the biggest names in the Hindi film industry attended the event which was hosted by Salman Khan for the first time. Gangubai Kathiawadi won 10 awards, including Best Actor (Female) for Alia Bhatt’s performance as a sex-worker-turned-brothel-owner. Badhaai Do won 5 awards, including Best Actor (Male) for Rajkummar Rao’s performance. The event was held at the Jio World Conventional Centre in Mumbai and was a star-studded affair. Here’s a list of winners of the Filmfare Awards 2023:

History of Filmfare Awards

• The Filmfare Awards are one of the oldest and most prestigious film awards in India, presented annually by The Times Group to honor both artistic and technical excellence in the Hindi film industry.
• The awards were first introduced in 1954, making them one of the oldest film awards in India.
• The inaugural ceremony was held in Mumbai, and the awards were presented to honor films released in the year 1952 and 1953.
• The first Filmfare Award for Best Film went to “Do Bigha Zamin”, directed by Bimal Roy.
• Dilip Kumar won the Best Actor award for his performance in the film “Daag”, and Meena Kumari won Best Actress for her role in the film “Baiju Bawra”. Naushad Ali won Best Music Director for “Baiju Bawra”.

Correct Answer:  B. Dr N. Kamakodi

Explanation:  RBI has approved his reappointment for another three years with effect from 01 May, 2023. He has been serving as MD & CEO of City Union Bank since May 2011. City Union Bank is an Indian bank headquartered in Kumbakonam, Tamil Nadu. It is a Private Sector Bank. Shreekant M Bhandiwad has assumed charge as the new Chairman of Karnataka Vikas Grameena Bank (KVGB). Bhandiwad was earlier heading the Patna circle of Canara Bank. Karnataka Vikas Grameena Bank is an Indian Regional Rural Bank sponsored by Canara Bank. It is headquartered in Dharwad, Karnataka.

Correct Answer:  B. Promoting Millets in Diets

Explanation:  NITI Aayog (National Institution For Transforming India) released a report titled “Promoting Millets in Diets: Best Practices across States/UTs of India” which presents a collection of good and innovative practices adopted by state governments and organisations in various aspects of the millet value chain. Suman K. Bery Vice Chairman of NITI Aayog unveiled the report in the presence of Member (Health) Dr. V.K. Paul, Member (Agriculture) Dr. Ramesh Chand and B. V. R. Subrahmanyam, Chief Executive Office(CEO) of NITI Aayog. The report discusses the best practices across various aspects, especially production, processing and consumption and serves as a guiding repository to revive and mainstream millets in our diets. This report covers different themes

• State Missions and initiatives to promote millets.
• Inclusion of millets in Integrated Child Development Scheme(ICDS).
• Research and development and use of technology for innovative practices.

Correct Answer:  C. Germany

Explanation:  The Department of Consumer Affairs, under the Ministry of Consumer Affairs, Food & Public Distribution, and the German Federal Ministry for Economic Affairs and Climate Action signed the new Work Plan for 2023 during the 9th Annual Meeting of the Indo-German Working Group on Quality Infrastructure (QI) in Berlin, Germany. This year’s Annual Meeting marks the 10th anniversary of the Working Group. It was signed by Nidhi Khare, Additional Secretary, Department of Consumer Affairs and Dr. Daniela Broenstrup, Director General, Digital and Innovation Policy, Federal Ministry for Economic Affairs and Climate Action.

• Both sides emphasised the important role of the Working Group in reducing technical barriers to trade and promoting innovation and consumer protection.
• The technical dialogues of the Working Group address key areas of economic cooperation between the two countries, and also promote systemic harmonization of QI at an international level.
• iThe Stakeholders from QI bodies and industry provided insights on current QI developments in Germany and India. These included the Standards National Action Plan for India, and German Standardization Roadmaps Circular Economy and Industries 4.0.
• The Work Plan 2023 is structured along the key elements of QI, including standardisation, accreditation, conformity assessment, legal metrology, product safety and market surveillance. It addresses cross-cutting topics like harmonised global solutions as well as sector-specific cooperation topics, such as digitalisation (Industry 4.0, Artificial Intelligence, cyber security), circular economy, smart farming and machinery safety.

Correct Answer:  C. 184 million

Explanation:  According to the World Bank’s (WB) annual report ‘World Development Report 2023: Migrants, Refugees, and Societies’, there are 184 million people (i.e. 2.3 % of the world’s population) are migrants (i.e. they lack citizenship in the country in which they live) in which the largest share of 43% of them was living in low- and middle-income countries. The report provides a comprehensive analysis of international migration and its potential to serve as a force for growth and shared prosperity in all countries and it proposes policies to better manage migration in destination, transit, and origin countries. As per the report, the faster ageing of economies will increase dependence on migration.

• Out of the 184 million migrant people, 37 million are refugees, a number that has tripled over the last decade.
• Demographic changes are making migration increasingly necessary for countries at all income levels.
• In the coming decades, the share of working-age adults would be expected to drop sharply in many countries.
• Spain, with a population of 47 million, is projected to reduce by more than one-third by 2100, with those above age 65 increasing from 20% to 39% of the population. As the population of Countries like Mexico, Thailand, Tunisia and Türkiye are not growing they may soon need more foreign workers.
• The report suggested stronger international development efforts requirements in origin countries to reduce the need for migration prompted by economic distress.
• The origin countries needed to make labour migration an explicit part of their development strategy and work to lower the cost of remittances to families back home.
• The destination countries are needed to encourage migration from populations where their skills are in high demand, adding that new financing instruments be developed multilaterally to help countries care for non-citizens in a predictable manner.