Daily GK and Current Affairs Quiz – 5th January 2022

Correct Answer: C. 7.1%

Explanation: The interest rates on the small savings schemes will remain the same for the fourth quarter of 2021-2022 (January – February – March 2022) as they were in the third quarter of 2021-22 (October-December 2021). It must be noted that West Bengal is the highest contributor to the small saving schemes while Uttar Pradesh is the second top contributor. Also remember, the government notifies the Interest rates for small savings schemes on a quarterly basis.

Various Interest Rates for Quarter-4 (Jan-March) of 2021-22:

Correct Answer – E. Tony Blair

Explanation: Former British Prime Minister Tony Blair, the Duchess of Cornwall, and Baroness Amos are to be appointed as members of the Order of the Garter, England’s oldest and most senior order of chivalry. The former prime minister now will be known as ‘Sir Tony’. The appointments are the personal choice of the Queen, who has up to 24 “knight and lady companions”. The ceremonial order, founded in 1348, is a recognition of significant public service and made without prime ministerial advice.Under Sir Tony’s leadership, the UK joined the US-led invasions of Iraq and Afghanistan – an official inquiry into the 2003 Iraq war was strongly critical of his government and UK military chiefs. He famously referred to Diana, Princess of Wales, as the “people’s princess” after her death.

Correct Answer – C. 50%

Explanation: Information Technology Minister Ashwini Vaishnaw has launched the India Semiconductor Mission (ISM) to attract large investments for setting up semiconductor wafer fabrication facilities in India. The companies that are interested are invited by the Centre for the development of the semiconductors and display manufacturing ecosystem in India. ISM is a specialised and independent business division within the Digital India Corporation.

About the mission:

• The financial support of up to 50 per cent of the project cost (ceiling of Rs 12,000 crore per fab) will be provided for the scheme for setting up display fabs.
• Fiscal support will be provided on ‘pari-passu’ basis for a period of six years from the date of approval both for semiconductor fabs and display fabs.

Correct Answer – D. Tesla

Explanation:  Tesla founder and CEO Elon Musk, who has been using social media to recruit people, has disclosed that Indian-origin Ashok Elluswamy was the first employee to be hired for his electric vehicle company’s Autopilot team. Before joining Tesla, Mr Elluswamy was associated with Volkswagen Electronic Research Lab and WABCO Vehicle Control System.

Ashok Elluswamy holds a bachelor’s degree in Electronics and Communication Engineering from the College of Engineering Guindy, Chennai and a Master’s degree in Robotics System Development from Carnegie Mellon University.

Correct Answer – C. Pakistan

Explanation: Pakistani all-rounder, Mohammad Hafeez has announced his retirement from international cricket on January 03, 2022, to end his career spanning more than 18 years. The 41-year-old Hafeez retired from Test cricket in December 2018. He has played 55 Tests, 218 ODIs and 119 T20Is for Pakistan, scoring 12,780 runs across formats. He is nicknamed “The Professor”.

Correct Answer – A. CryptoWire

Explanation: Crypto Superapp, CryptoWire has launched India’s first crypto index titled ‘IC15’ , which will track the market capitalization and liquidity of top 15 global digital currencies.Crypto assets like Bitcoin, Ethereum, Binance coin, Solana, Cardano, Ripple, Terra, Dogecoin and Shiba inu will be monitored by this platform.CryptoWire’s index governance committee will maintain, monitor and administer the index.Base value of the index is set at 10,000 and base date is 1 April 2018.

Correct Answer – B. Ministry of Power

Explanation: The Power Ministry successfully completed seven years of distributing and selling LED lights under its flagship UJALA programme.The initiative evolved into the world’s largest zero subsidy domestic lighting programme with more than 36.78 crore LEDs distributed across the country.Launched in 2015, the Unnat Jyoti by Affordable LEDs for All (UJALA) succeeded in bringing down the retail price of LED bulbs from ₹300-350 a bulb to ₹70-80.Under the programme, the government ensured transparency and encouraged competition by e-procurement of goods and services resulting in a significant decline in transaction cost and time, enhancing process efficiency.With UJALA, the cost of LED bulb has come by down by 85 per cent.

Correct Answer – B. South Indian Bank

Explanation: The Kerala-based lender South Indian Bank has won the UiPath Automation Excellence Awards 2021 for Best Automation under Crisis for Business Continuity.The award was bestowed upon the Bank for its exceptional use of Robotic Process Automation capabilities under difficult times for solving severe operational constraints, thereby ensuring business continuity.The UiPath Automation Excellence Awards aim to recognise the change-makers of automation. In the 2021 Edition of the UiPath Automation Excellence Awards, the individuals and organisations across India and South Asia (Sri Lanka, Bangladesh and Nepal), who have solved some of the greatest challenges through transformative automation projects were recognised.The Bank was awarded the UiPath Automation Excellence Award for tackling a situation strategically using Robotic Process Automation.

Correct Answer – C. State Bank of India (SBI), ICICI Bank and HDFC Bank

Explanation: According to a statement by the Reserve Bank of India, the State Bank of India (SBI), ICICI Bank and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as in the 2020 list of D-SIBs.RBI places D-SIBs in appropriate buckets depending upon their Systemic Importance Scores (SISs).The central bank’s current update on D-SIBs is based on the data collected from banks as on March 31, 2021.Based on the bucket in which a D-SIB is placed, an additional common equity requirement is applied to it.Under RBI’s ‘Framework for dealing with D-SIBs’, SBI is placed in the third bucket, whereby it is required to maintain Additional Common Equity Tier 1 (CET1) at 0.60 per cent of its Risk Weighted Assets (RWAs).ICICI Bank and HDFC Bank are placed in the first bucket, whereby they are required to maintain Additional CET1 at 0.20 per cent of their RWAs.

Correct Answer – B. SBI General Insurance

Explanation: SBI General Insurance has announced the launch of a campaign to increase awareness of Indians around the need to buy health insurance to save tax.The campaign #BahaneChhodoTaxBachao will also underline other benefits of opting for health insurance.The campaign has a humorous tone to bring out the barriers people have for not buying or procrastinating to buy health insurance.

Correct Answer – A. Harpreet Chandi

Explanation: Captain Harpreet Chandi, an Indian-origin British Sikh Army officer, and physiotherapist also known as Polar Preet, has created history by becoming the ‘first woman of colour’ to complete a solo unsupported trek to the South Pole. Chandi made history at the end of Day 40 after travelling 700 miles (1,127 km) and battling temperatures of minus 50 degrees Celsius and wind speeds of around 60mph.

Additional Information

Former British Prime Minister Tony Blair, the Duchess of Cornwall, and Baroness Amos are to be appointed as members of the Order of the Garter, England’s oldest and most senior order of chivalry on 04 January 2022. The former prime minister now will be known as ‘Sir Tony’. India displaces the United Kingdom to be third in the list of countries that are home to such enterprises valued at over $1 billion each or unicorns.French fashion house Chanel named Indian origin British citizen, Leena Nair, an executive from Unilever, as its new global CEO.  British comedian Sean Lock has passed away. He was one of Britain’s finest comedians. Lewis Hamilton (Mercedes-Great Britain), won the British Grand Prix 2021, for a record-extending eighth time.

Correct Answer – D. Sanjay Bhargava

Explanation: Sanjay Bhargava, the head of Elon Musk-led Starlink’s India operation, has resigned in the backdrop of the Department of Telecommunications (DoT). He resigned after the government stated that Starlink Internet Services is not licensed to offer satellite-based internet services in India. Bhargava had taken charge of Starlink’s India operation on October 1 as its country director.

Additional Information

Important Current Affairs based on resignation in 2021-22. K V Subramanian resigned as Chief Economic Adviser. The government of India accepts RN Ravi’s resignation as interlocutor for Naga peace talks.Uttarakhand Governor Baby Rani Maurya has announced her resignation from the position on September 08, 2021, almost two years before completing her term. The Prime Minister of Malaysia, Muhyiddin Yassin and his cabinet resigned after losing a confidence vote in parliament in August 2021.

Correct Answer – B. Social Worker

Explanation:  Renowned social worker Sindhutai Sapkal, known as orphan children’s mother, died on 4 Jan 2022. She had received the Padma Shri in 2020.  She adopted and took care of more than one thousand orphan kids in 40 years. She received more than 750 awards. She used the award money to build shelters for orphans. PM Narendra Modi said ”Dr. Sindhutai Sapkal will be remembered for her noble service to society”.

Correct Answer: A. Apple Inc

Explanation: Apple Inc on January 3 became the first US company to hit $3 trillion in market capitalization. On the first day of trading in 2022, the company’s shares hit a record of $182.88 in mid-day trading. The world’s most valuable company is the first to reach the milestone. Tim Cook is the current CEO of Apple company. Apple shared the $2 trillion market value club with Microsoft Corp.

Additional Information

Microsoft Corp. has surpassed Apple Inc. to become the world’s most valuable publicly-traded company by market capitalisation. Apple’s co-creator Steve Wozniak has launched a new space start-up called Privateer Space, bringing potential competition to a field dominated by billionaires Elon Musk, Jeff Bezos, and Richard Branson.Apple is the world’s most valuable company (USD 2,443 billion) according to the Hurun Global 500 Most Valuable Companies list 2021.