Current Affairs Questions and Answers 30th April 2024

30th April Current Affairs 2024 Quiz

Q1. Which of the following entities is NOT a requirement for Small Finance Banks (SFBs) seeking conversion into Universal Banks, as per RBI’s guidelines?

(a) Listed status on a recognized stock exchange

(b) Minimum net worth of ₹1,000 crore

(c) Scheduled status

(d) Gross NPA ratio of 5%

(e) Diversified loan portfolio

Q2. Which countries recently imposed sanctions targeting Iran’s drone production and export efforts?

(a) United States, United Kingdom, France

(b) United States, Russia, China

(c) United States, United Kingdom, Canada

(d) United States, Israel, Saudi Arabia

(e) United States, Israel, Iraq

Q3. Before the recent legislation, what was the maximum penalty for same-sex acts in Iraq?

(a) 2 years in prison

(b) 5 years in prison

(c) 7 years in prison

(d) 10 years in prison

(e) There was no explicit penalty for same-sex acts

Q4. Which category of goods accounts for half of India’s imports from China?

(a) Consumer goods

(b) Raw materials

(c) Capital goods and machinery

(d) Intermediate goods

(e) Finished products

Q5. What is the minimum net worth required for Small Finance Banks (SFBs) seeking voluntary transition to Universal Banks according to RBI’s guidelines?

(a) ₹500 crore

(b) ₹750 crore

(c) ₹1,000 crore

(d) ₹1,250 crore

(e) ₹1,500 crore

Q6. What previous innovation did Hitachi Payment Services introduce in September 2023?

(a) UPI-enabled ATMs

(b) Contactless payment cards

(c) Biometric authentication for ATM withdrawals

(d) Mobile banking application

(e) Cash withdrawal kiosks

Q7. What type of loan portfolio preference is given to SFBs intending to convert into Universal Banks?

(a) Specialized

(b) Limited

(c) Diversified

(d) Targeted

(e) Non-existent

Q8 . Which entity is spearheading the initiative to combat OTP frauds alongside the government and telcos?

(a) Google

(b) Reserve Bank of India (RBI)

(c) Facebook

(d) Amazon

(e) Apple

Q9. What factor primarily contributes to the surge in commercial paper (CP) issuances by NBFCs in January-March 2024?

(a) Increased liquidity in the market

(b) Reduction in regulatory requirements

(c) RBI’s elevated risk weights on bank loans to NBFCs

(d) Decrease in investor confidence

(e) Rise in interest rates

Q10. Which military entity in Iran is credited with the development of the new kamikaze drone?

(a) Iranian Army

(b) Iranian Air Force

(c) Iranian Navy

(d) Iranian Islamic Revolutionary Guard Corps (IRGC)

(e) Iranian Cyber Defense Forces

Solutions

S1. Ans. (d)

Sol. RBI’s guidelines specify various requirements for SFBs transitioning into Universal Banks, including listed status, minimum net worth, scheduled status, and a diversified loan portfolio. However, a gross NPA ratio of 5% is not a requirement; instead, the permissible limit is 3% or less.

S2. Ans.(c)

Sol. The US, UK, and Canada recently imposed sanctions targeting Iran’s drone production and export endeavors, making option c the correct choice. These sanctions were enacted following Iranian air attacks on Israel.

3. Ans.(e)

Sol.  Iraq did not explicitly outlaw gay sex before the recent legislation, although vague morality clauses in its penal code had been used to target LGBT individuals.

S4. Ans.(c)

Sol. Half of India’s imports from China consist of capital goods and machinery, underscoring the critical need for focused research and development in this area to reduce dependency on Chinese imports.

S5. Ans.(c)

Sol. According to RBI’s guidelines, SFBs aiming to transition into Universal Banks must have a minimum net worth of ₹1,000 crore. This criterion ensures that the bank has a robust financial base to support its expanded operations and comply with regulatory requirements.

S6. Ans.(a)

Sol . Hitachi Payment Services introduced the first-of-its-kind UPI ATM on the Android platform for card-less cash withdrawals in September 2023.

S7. Ans.(c)

Sol. RBI guidelines suggest that preference will be given to SFBs with a diversified loan portfolio when considering their transition into Universal Banks.

S8. Ans.(b)

Sol. The Reserve Bank of India (RBI) is actively involved in promoting cybersecurity measures, including initiatives to combat OTP frauds.

S9. Ans.(c)

Sol. Reserve Bank of India’s decision to increase risk weights on bank loans to NBFCs, particularly the higher-rated ones, has spurred the issuance of commercial papers by NBFCs.

S10. Ans.(d)

Sol. IRGC is responsible for the development of the new kamikaze drone, making option d the correct choice. The IRGC is known for its role in Iran’s military operations and strategic developments.