Current Affairs Questions and Answers 28th May 2024

28th May May Current Affairs 2024 Quiz

Q1. Which public sector bank holds the highest value of unclaimed deposits?

(a) Punjab National Bank

(b) State Bank of India

(d) HDFC Bank

(e) DBS Bank

Q2. What was Hero FinCorp required to show cause for, according to the RBI’s notice?

(a) Misreporting financial statements

(b) Engaging in fraudulent activities

(d) Not paying taxes

(e) Violating customer privacy laws

Q3. Which company led the $1 billion funding round in which Google is participating?

(a) Amazon

(b) Reliance JioMart

(d) Walmart

(e) SoftBank

Q4. Which of the following companies benefitted from the Production-Linked Incentive (PLI) scheme in India?

(a) Google

(b) Xiaomi

(d) Huawei

(e) LG

Q5. Which state emerged as the top performer in adding transmission lines in the fiscal year 2023-24, according to the Central Electricity Authority’s data?

(a) Gujarat

(b) Tamil Nadu

(d) Uttar Pradesh

(e) Rajasthan

Q6. What initiative did the RBI launch to help users search for unclaimed deposits across multiple banks?

(a) UPI

(b) Bharat Bill Payment System

(d) Pradhan Mantri Jan Dhan Yojana

(e) National Financial Switch

Q7. Which of the following is a recommendation provided by the World Bank for achieving inclusive water security?

(a) Ignoring early warning systems

(b) Investing in pro-poor water information systems

(d) Disregarding nature-based solutions

(e) Eliminating water accounting methods

Q8. What is L&T Technology Services’ plan for the Simulation Centre of Excellence in Bengaluru in the next two years?

(a) Closing down the center

(b) Scaling up the center

(d) Relocating the center to another city

(e) Decreasing investments in aerospace

Q9. What strategic move is Disney focusing on after selling its stake in Tata Play?

(a) Expanding in Europe

(b) Entering the Chinese market

(d) Launching a new streaming service

(e) Acquiring another media company

Q10. When did Microsoft introduce the ‘Copilot+’ PCs?

(a) June 18

(b) May 20

(d) July 10

(e) March 30

Solutions

S1. Ans. (b)

Sol. The State Bank of India (SBI) holds the highest value of unclaimed deposits among public sector banks, with 2.16 crore accounts worth ₹8,069 crore as of December 2022.

S2. Ans.(c)

Sol. The notice issued by the RBI required Hero FinCorp to show cause as to why a penalty should not be imposed for its failure to comply with the RBI’s directions.

S3. Ans.(d)

Sol. Walmart led the $1 billion funding round in which Google is participating. Walmart has been a significant investor in Flipkart, having acquired a major stake in the company in 2018 and continuing to support it through various funding rounds.

S4. Ans.(c)

Sol. Apple’s vendors, including Foxconn, Wistron India (now Tata Electronics), and Pegatron, are among the beneficiaries of India’s PLI scheme.

S5. Ans.(d)

Sol. The Central Electricity Authority’s data for 2023-24 indicates that Uttar Pradesh stood out as the leading state in adding transmission lines. This information is supported by the addition of 1,460 ckm of transmission lines of 220kV or above by the Uttar Pradesh Power Transmission Corporation Ltd (UPPTCL). The state’s consistent performance in this regard underscores its pivotal role in strengthening the nation’s power transmission infrastructure.

S6. Ans.(c)

Sol. To tackle the issue of unclaimed deposits, the RBI launched the UDGAM (Unclaimed Deposits-Gateway to Access Information) online portal. This initiative helps users search for unclaimed deposits across multiple banks in a centralized manner, aiming to simplify the process of reclaiming these funds.

S7. Ans.(b)

Sol. Reforming water information systems to ensure they target the most vulnerable populations, alongside other measures such as early warning systems and sustainable infrastructure.

S8. Ans.(b)

Sol. L&T Technology Services plans to substantially scale up the Simulation Centre of Excellence in Bengaluru over the next two years. This reflects the company’s commitment to fostering innovation and excellence in aerospace engineering, as well as its intention to further support Airbus’s technology needs and expand its capabilities in the aerospace sector.

S9. Ans.(c)

Sol. After selling its stake in Tata Play, Disney is focusing on merging its Indian unit with Viacom 18 Media Pvt, creating an $8.5 billion entertainment giant.

S10. Ans.(b)

Sol. Microsoft unveiled the ‘Copilot+’ PCs on May 20 during an event at its Redmond, Washington campus. This launch is part of Microsoft’s strategy to integrate advanced AI capabilities into its products and compete with industry giants Alphabet and Apple.