1. ‘Amrut Mahotsav’, which was seen in the news recently, is the celebration of which event?
[A] 125th birth anniversary of Netaji
[B] 75th year of India’s Independence
[C] 50th year of 1971 War
[D] 50th year of Kargil War
Show Answer
Correct Answer: B [75th year of India’s Independence]
Notes:
The Budget Session of Parliament recently began with the address of President Ram Nath Kovind to the joint sitting of both Houses of Parliament.
During the address, the President mentioned that the ‘Amrut Mahotsav’ will be observed in the country from this year, to mark commencement of the celebrations towards the 75th year of India’s Independence.
2. As per a report released by Alvarez & Marsal India, what is the average time taken for resolution in India under IBC, as on Sep’20?
[A] 330 days
[B] 360 days
[C] 400 days
[D] 440 days
Show Answer
Correct Answer: D [440 days]
Notes:
As per a recent report by Alvarez & Marsal India, as at September 2020, it took an average of 440 days for resolving 277 cases approved by the NCLT under the IBC.
The report stressed on the need for time-bound resolution of stressed assets and enhancing the resolution processes under Insolvency and Bankruptcy code as recovery percentages fell sharply to 15-25 % whenever there is an increase in time taken for resolution.
3. The Government of India has approved the closure of which state-owned company recently?
[A] Wheels India Limited
[B] Brakes India Limited
[C] Scooters India Limited
[D] Hindustan Automobiles
Show Answer
Correct Answer: C [Scooters India Limited]
Notes:
The central government has recently announced the closure of the government owned Scooters India Limited, on account of persistent losses posted by the company. The company was incorporated in the year 1972 and is headquartered at Lucknow.
The company has presently 100 employees and has been manufacturing three wheelers in the name of Vijai Super, Vikram and Lambro.
4. NaBFID, the new bank which is proposed to be set up, is to finance which sector?
[A] Agriculture
[B] Infrastructure
[C] MSMEs
[D] Fishery
Show Answer
Correct Answer: B [Infrastructure]
Notes:
The National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 is to be introduced in the Budget session.
The government is set up a National Bank for Financing Infrastructure and Development (NaBFID), which will facilitate the infrastructure financing of the country. The developmental financial institution (DFI) will act as a principal financial institution and development bank to support infrastructure projects.
5. Which country is to introduce a bill to ban all private cryptocurrencies and create a sovereign digital currency?
[A] China
[B] India
[C] Japan
[D] New Zealand
Show Answer
Correct Answer: B [India]
Notes:
The Indian Government is to introduce a bill in Parliament to ban all private cryptocurrencies and create a sovereign digital currency by the Reserve Bank of India.
The bill is to allow certain exceptions to promote the underlying technology of cryptocurrency and its uses. A legislative framework on official digital currency is also expected to be created.
6. Which Indian company is to launch a new COVID-19 vaccine under the brand name Covovax?
[A] Dr Reddys
[B] Serum Institute of India
[C] Biocon
[D] Sun Pharma
Show Answer
Correct Answer: B [Serum Institute of India]
Notes:
Serum Institute of India has announced that it would launch a new COVID-19 vaccine under the brand name Covovax.
It would be developed in partnership with American vaccine developer Novavax, by the month of June. The company’s Covishield has been developed in partnership with the Oxford University and British-Swedish firm AstraZeneca.
7. What is the expansion of “OPC”, which is seen in the Union Budget 2021-22?
[A] Over the Port Counter
[B] One Person Company
[C] On Port Company
[D] On the go Private Company
Show Answer
Correct Answer: B [One Person Company]
Notes:
As per the Union Budget 2020-21, the government would be incentivizing the incorporation of One Person Companies (OPC) in order to boost the ease of doing business.
The Government has reduced the time limit for Indian citizen to start an OPC from 182 days to 120 days. This move allows NRIs to incorporate OPCs in India.
8. What is the name of the Global conference being hosted by Kerala State Planning Board?
[A] Global Keralites
[B] Kerala Looks Ahead
[C] Kerala Vision 2021
[D] New Kerala
Show Answer
Correct Answer: B [Kerala Looks Ahead]
Notes:
Kerala Chief Minister Pinarayi Vijayan inaugurated the ‘Kerala Looks Ahead,’ a three-day virtual global conclave.
The conference aims to frame the roadmap for long-term development of the state by reaping opinions from top economists, industry leaders and administrators. Star speakers include Nobel laureate Amartya Sen, WHO Scientist Soumya Swaminathan and top industry leaders.
9. The ‘ASEAN-INDIA Hackathon’ is an initiative taken by which Union Ministry?
[A] Ministry of External Affairs
[B] Ministry of Education
[C] Ministry of Culture
[D] Ministry of Science and Technology
Show Answer
Correct Answer: B [Ministry of Education]
Notes:
The ‘ASEAN-INDIA Hackathon’ is an initiative taken by the Union Ministry of Education. This year’s edition has been inaugurated and is being organised online from 1st -3rd February 2021.
The event enables India and all the 10 ASEAN countries collaborate in the fields of education, science and technology. The countries also revive their economic and cultural ties under the event. This year the broad themes of the Hackathon are ‘Blue Economy’ and ‘Education’.
10. RBI has appointed an external firm to audit HDFC Bank under the provisions of which act?
[A] RBI Act
[B] Banking Regulation Act
[C] Negotiable Instruments Act
[D] Information Technology Act
Show Answer
Correct Answer: B [Banking Regulation Act]
Notes:
The Reserve Bank of India (RBI) has appointed an external professional IT firm to carry out a special audit of the entire IT infrastructure of the bank
Earlier, the RBI had penalised the HDFC bank for repeated service failures in internet banking, mobile banking, and payment utilities. This step has been taken by the RBI using the powers conferred under the Banking regulation act, 1949.