Current Affairs Quiz 05th May 2023 For Bank Exam

Table of Contents

05th May Current Affairs Quiz: Here, we are providing the Current Affairs Quiz. These types of topics are important for candidates who prepare for Bank Exam 2023. In this article, we are covering the following topics Headlines:

National SC-ST Hub Scheme
Arabian Travel Market
Airtel Payments Bank
National Manufacturing Innovation Survey

05th May Current Affairs Quiz

The Current Affairs section constitutes a major part of the General Awareness section in a competitive examination and plays an instrumental role. To supplement your preparation for the General Awareness Section of the upcoming exams like IBPS PO/Clerk Mains, SBI PO Mains and SEBI Grade A Prelims, we are providing you Current Affairs Quiz of 05th May 2023 covering the following topics Headlines: National SC-ST Hub Scheme, Arabian Travel Market, Airtel Payments Bank, National Manufacturing Innovation Survey.

Q1. The National SC-ST Hub Scheme has received praise from Prime Minister Narendra Modi for crossing over one lakh beneficiary registrations. Which implementing body is responsible for the National SC-ST Hub Scheme?
(a) National Bank for Agriculture and Rural Development (NABARD)
(b) Small Industries Development Bank of India (SIDBI)
(c) National Small Industries Corporation (NSIC)
(d) Khadi and Village Industries Commission (KVIC)
(e) National Institute for Micro, Small and Medium Enterprises (NI-MSME)

Q2. Who launched the National SC-ST Hub Scheme?
(a) Ministry of Finance
(b) Ministry of Commerce and Industry
(c) Ministry of Micro, Small and Medium Enterprises
(d) Ministry of Social Justice and Empowerment
(e) Ministry of Tribal Affairs

Q3. The Ministry of Tourism, Govt of India, is participating in the Arabian Travel Market (ATM) 2023 to promote inbound travel to India from the Middle East and North Africa (MENA) region. How much did Indian nationals spend on overseas travel in the first nine months of 2022?
(a) $10 million
(b) $10 billion
(c) $42 million
(d) $42 billion
(e) None of the above

Q4. India’s first undersea tunnel, which is set to open by November 2023, is a 2.07-kilometer twin tunnels run 17-20 meters below sea level. The Mumbai Coastal Road Project connects Marine Drive to the ___.
(a) Bandra-Worli Sea Link
(b) Nariman Point
(c) Gateway of India
(d) Worli Seaface
(e) Juhu Beach

Q5. According to Bain and Company’s Future of India Retail Payments report, merchant payments over the Unified Payments Interface (UPI) are expected to expand by _____ to $1 trillion by FY26.
(a) 10 to 20 percent
(b) 20 to 30 percent
(c) 30 to 40 percent
(d) 40 to 50 percent
(e) 50 to 60 percent

Q6. As per the report, government payments and subsidies are expected to decrease over the next three to five years, ultimately resulting in _____ for merchant payments.
(a) government controlling pricing
(b) banks controlling pricing
(c) market forces controlling pricing
(d) fintech companies controlling pricing
(e) none of the above

Q7. What is the new feature that Airtel Payments Bank has introduced in collaboration with NPCI?
(a) Fingerprint authentication for AePS
(b) Voice authentication for AePS
(c) Face authentication for AePS
(d) OTP authentication for AePS
(e) None of the above

Q8. When was Airtel Payments Bank launched?
(a) 2015
(b) 2016
(c) 2017
(d) 2018
(e) 2019

Q9. Payments Banks can accept deposits only up to a maximum of _____ per customer.
(a) Rs. 1 lakh
(b) Rs. 2 lakh
(c) Rs. 5 lakh
(d) Rs. 10 lakh
(e) Rs. 50,000

Q10. Microsoft India has announced two new initiatives aimed at supporting small and medium-sized businesses (SMBs) in their digital transformation journey. The tech giant has launched a dedicated helpline and a comprehensive website. What is the Digital Transformation Helpline?
(a) A helpline for small and medium-sized businesses to navigate their technological adoption and deployment journey
(b) A helpline for individuals seeking technical support for their Microsoft products
(c) A helpline for businesses seeking financial assistance for their digital transformation journey
(d) A helpline for businesses seeking marketing support for their digital transformation journey
(e) None of the above

Q11. What is the name of the new insurance scheme for toddy tappers introduced by the Telangana government?
(a) Geetha Karmikula Bhima
(b) Rythu Bhima
(c) Telangana Karmikula Bhima
(d) Farmers Insurance Scheme
(e) None of the above

Q12. What is the name of the initiative that will provide a monthly incentive of Rs 1,500 to eligible women in the Spiti Valley?
(a) Indira Gandhi Mahila Vikas Yojana
(b) Indira Gandhi Mahila Sahayata Nidhi
(c) Indira Gandhi Mahila Samman Nidhi
(d) Indira Gandhi Mahila Udyam Nidhi
(e) Indira Gandhi Mahila Shakti Nidhi

Q13. Which state has been ranked as the most innovative state in the National Manufacturing Innovation Survey (NMIS) 2021-22?
(a) Telangana
(b) Karnataka
(c) Tamil Nadu
(d) Assam
(e) Bihar

Q14. Who has been confirmed as the next President of the World Bank( April 2023)?
(a) Ajay Banga
(b) Sundar Pichai
(c) Satya Nadella
(d) Indra Nooyi
(e) Mukesh Ambani

Q15. What is the Vivad se Vishwas scheme?
(a) A scheme to offer assistance to Micro, Small, and Medium Enterprises (MSMEs)
(b) A scheme to provide relief to farmers affected by natural disasters
(c) A scheme to promote renewable energy
(d) A scheme to provide free healthcare to the poor
(e) None of the above

Solutions

S1. Ans.(c)
Sol. The National Small Industries Corporation (NSIC) is the implementing body responsible for the National SC-ST Hub Scheme. NSIC is a public sector undertaking under the administrative control of the Ministry of MSME.

S2. Ans.(c)
Sol. The National SC-ST Hub Scheme was launched by the Ministry of Micro, Small and Medium Enterprises on October 18th, 2016. The aim is to create a conducive environment that fosters and supports SC/ST entrepreneurs in meeting the mandated 4% procurement by Central Public Sector Enterprises (CPSEs) as specified in the Government’s Public Procurement Policy for Micro and Small Enterprises.

S3. Ans.(b)
Sol. According to data from the Reserve Bank of India (RBI), Indian nationals spent $10 billion on overseas travel in the first nine months of 2022.

S4. Ans.(a)
Sol. The Mumbai Coastal Road Project connects Marine Drive to the Bandra-Worli Sea Link.

S5. Ans.(d)
Sol. The report by Bain and Company predicts that merchant payments over UPI will increase by 40 to 50 percent to $1 trillion by FY26.

S6. Ans.(c)
Sol. The report predicts that government payments and subsidies will decrease over the next three to five years, resulting in market forces controlling pricing for merchant payments.

S7. Ans.(c)
Sol. Airtel Payments Bank has collaborated with NPCI to introduce face authentication for the Aadhaar-enabled Payment System (AePS) at its banking points. Until now, transactions were being authenticated using the customer’s Aadhaar number and fingerprint or iris match in the UIDAI records. The new facility will enable customers to validate the transaction by undertaking face authentication along with the Aadhaar number.

S8. Ans.(c)
Sol. Airtel Payments Bank was launched in India in 2017 as the country’s first payments bank.

S9. Ans.(a)
Sol. Payments Banks can accept deposits only up to a maximum of Rs. 1 lakh per customer. This is to ensure that the deposits are safe and the bank can manage the risks associated with them effectively.

S10. Ans.(a)
Sol. A helpline for small and medium-sized businesses to navigate their technological adoption and deployment journey. The Digital Transformation Helpline offers dedicated support to help SMBs navigate their digital transformation journey seamlessly. The helpline provides expert guidance and assistance in leveraging technology solutions that best address their business challenges, improve operations, increase efficiency, and drive growth.

S11. Ans.(a)
Sol. The new insurance scheme for toddy tappers introduced by the Telangana government is called ‘Geetha Karmikula Bhima.’

S12. Ans.(c)
Sol. Indira Gandhi Mahila Samman Nidhi. The initiative will provide a monthly incentive of Rs 1,500 to all eligible women in the Spiti Valley, including Buddhist nuns, above the age of 18 years.

S13. Ans.(b)
Sol. Karnataka ranked the most ‘innovative’ State A survey on the degree of innovation among manufacturing firms found that Karnataka, overall, is the most “innovative” State, followed by Telangana, and Tamil Nadu.

S14. Ans.(a)
Sol. The 25-member executive board of the World Bank has officially selected Ajay Banga as the new President of the organization. He will assume the position for a period of five years, starting from June 2. Ajay Banga is of Indian origin and previously served as the CEO of Mastercard.

S15. Ans.(a)
Sol. The Vivad se Vishwas scheme is a scheme announced in the Union Budget 2023-24 by the Ministry of Finance to offer assistance to Micro, Small, and Medium Enterprises (MSMEs) during the COVID-19 pandemic.