Current Affairs Questions and Answers 04th May 2024

04th May Current Affairs 2024 Quiz

Q1. What is the minimum investment amount required for the FRB 2034?

(a) Rs 500

(b) Rs 1,000

(c) Rs 5,000

(d) Rs 10,000

(e) Rs 50,000

Q2. Which of the following banks is NOT part of the consortium providing the $400 million finance package to AGEL?

(a) Cooperative Rabobank U.A.

(b) DBS Bank Ltd

(c) Barclays Bank PLC

(d) Intesa Sanpaolo S.p.A.

(e) Sumitomo Mitsui Banking Corporation

Q3. What is the strategic goal of the NPCI-Bank of Namibia collaboration regarding payment interoperability?

(a) To decrease payment interoperability.

(b) To ensure full interoperability of payment instruments by 2025.

(c) To limit payment options.

(d) To create barriers for underserved populations.

(e) To reduce financial access for rural areas.

Q4. Which legal firms served as the borrower’s counsel for Adani Green Energy in this financing transaction?

(a) Latham & Watkins LLP and Saraf & Partners

(b) Linklaters and Cyril Amarchand Mangaldas

(c) Allen & Overy and Khaitan & Co

(d) Baker McKenzie and AZB & Partners

(e) Clifford Chance and Trilegal

Q5. Which sectors are highlighted as the primary recipients of chips packaged at Micron’s Sanand unit?

(a) Agriculture and Hospitality

(b) Pharmaceuticals and Textiles

(c) Data Centers and Smartphones

(d) Construction and Retail

(e) Energy and Entertainment

Q6. In which sectors does Eternal Capital plan to focus its investments?

(a) Automotive and manufacturing

(b) Hospitality and tourism

(c) Financial services and banking

(d) SaaS and clean tech

(e) Healthcare and pharmaceuticals

Q7. Where is the standalone merchant power project of 250 MW capacity being implemented by AGEL?

(a) Delhi

(b) Mumbai

(c) Chennai

(d) Bengaluru

(e) Khavda, Gujarat

Q8 . What was the primary factor contributing to inflation in India’s manufacturing sector in April 2024?

(a) Decreased production costs

(b) Decreased demand

(c) Decreased labor costs

(d) Increased raw material and labor costs

(e) Government subsidies

Q9. Which co-operative bank received the highest monetary penalty among the ones mentioned?

(a) Rajkot Nagarik Sahakari Bank

(b) The Kangra Co-operative Bank (New Delhi)

(c) Rajdhani Nagar Sahkari Bank (Lucknow)

(d) Zila Sahakari Bank, Garhwal (Kotdwar, Uttarakhand)

(e) District Co-operative Bank (Dehradun)

Q10. How often does the interest rate on the FRB 2034 reset?

(a) Monthly

(b) Annually

(c) Every two years

(d) Every four years

(e) Every six months

Solutions

S1. Ans. (b)

Sol. The FRB 2034 has a minimum investment requirement of Rs 1,000, making it accessible to a wide range of investors.

S2. Ans.(c)

Sol. The consortium of lenders includes Cooperative Rabobank U.A., DBS Bank Ltd, Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation.

S3. Ans.(b)

Sol.  The strategic goal of the collaboration is to ensure full interoperability of payment instruments by 2025, as stated by Bank of Namibia Governor Johannes Gawaxab.

S4. Ans.(a)

Sol. Latham & Watkins LLP and Saraf & Partners served as the borrower’s counsel for Adani Green Energy in this financing transaction, as mentioned in the announcement.

S5. Ans.(c)

Sol. The chips packaged at Micron’s Sanand unit are primarily intended for utilization across sectors such as data centers and smartphones, reflecting the diverse applications of semiconductor technology in modern industries.

S6. Ans.(d)

Sol . Eternal Capital plans to focus its investments in sectors such as SaaS (Software as a Service) and clean tech, along with other areas like sports tech and consumer/D2C startups.

S7. Ans.(e)

Sol. AGEL’s standalone merchant power project of 250 MW capacity is situated in Khavda, Gujarat, within the world’s largest renewable energy cluster.

S8. Ans.(d)

Sol. Inflation in India’s manufacturing sector in April 2024 was primarily driven by increased raw material and labor costs. This led to upward pressure on prices, despite efforts by manufacturers to pass on these costs to consumers.

S9. Ans.(a)

Sol. It received a penalty of Rs 43.30 lakh, the highest among the mentioned banks, for non-compliance with various RBI directions.

S10. Ans.(e)

Sol. The interest rate on the FRB 2034 adjusts every six months based on the average yields of recent short-term government debt auctions.