General Awareness Quiz for Bank Mains Exams 2024-02nd March

Q1. Which bank was honoured (In February 2024) with the title of Best Technology Bank of the Year Award at the 19th IBA Annual Banking Technology Conference, Expo, & Citations, securing a total of six prestigious awards including emerging as the winner in three categories, the runner-up in one, and receiving special mentions in two others?
(a) HDFC Bank
(b) ICICI Bank
(c) Kotak Mahindra Bank
(d) South Indian Bank
(e) Axis Bank

Q2. According to the 2023 Burgundy Private Hurun India 500 released by Axis Bank’s Burgundy Private and Hurun India, which company has emerged (In February 2024) as India’s most valuable company for the 3rd consecutive year, with a value of Rs 15,64,663 crore?
(a) Tata Consultancy Services (TCS)
(b) Infosys
(c) Hindustan Unilever Limited (HUL)
(d) Reliance Industries Limited (RIL)
(e) Bharti Airtel

Q3. The Insurance Regulatory and Development Authority of India (IRDAI) has recently (In February 2024) granted in-principle approval for the upgrade of a license from a direct insurance broker (Life and General) to a composite insurance broker. Which entity received this approval?
(a) HDFC Life Insurance Company Limited
(b) ICICI Prudential Life Insurance Company Limited
(c) Policybazaar Insurance Brokers Private Limited
(d) Coverfox Insurance Broking Pvt. Ltd.
(e) Acko General Insurance Limited

Q4. The 58th Jnanpith Award 2023, India’s highest literary honor established in 1961 for outstanding contributions to Indian literature, has been conferred upon two distinguished individuals. One is a renowned Urdu poet and the other a revered Sanskrit scholar. Who have been named (In February 2024) the recipients of this prestigious award?
(a) Josh Malihabadi and A.K. Ramanujan
(b) Vikram Seth and Shankha Ghosh
(c) Faiz Ahmed Faiz and M.T. Vasudevan Nair
(d) Javed Akhtar and Gopinath Mohanty
(e) Gulzar and Jagadguru Rambhadracharya

Q5. The Government of India has recently revised the authorized capital of the state-run Food Corporation of India (FCI) to bolster its operational capabilities. To what amount has the authorized capital been increased from the previous ₹10,000 crore?
(a) ₹11,000 crore
(b) ₹15,000 crore
(c) ₹18,000 crore
(d) ₹20,000 crore
(e) ₹21,000 crore

Q6. Union Minister Sarbananda Sonowal recently (In February 2024) launched the ‘Sagar Aankalan’ guidelines. What is the primary purpose of these guidelines?
(a) To standardize cargo handling procedures across all Indian ports
(b) To reduce the carbon footprint of maritime activities in Indian waters
(c) To enhance the efficiency and competitiveness of Indian ports through a performance index
(d) To increase the number of ports in India eligible for international trade
(e) To facilitate the privatization of select port operations in India

Q7. Arunachal Pradesh, located in the northeastern part of India, celebrates its Foundation Day every year on February 20th. This day commemorates its attainment of full statehood. In which year did Arunachal Pradesh achieve full statehood?
(a) 1972
(b) 1975
(c) 1980
(d) 1987
(e) 1992

Q8. In a notable effort to enhance voter engagement and participation in the upcoming Lok Sabha elections, the Punjab Chief Electoral Officer’s office has appointed (In February 2024) which Indian cricketer as the new “state icon” for Punjab?
(a) Virat Kohli
(b) Harbhajan Singh
(c) Arshdeep Singh
(d) Yuvraj Singh
(e) Shubman Gill

Q9. The Indian Renewable Energy Development Agency (IREDA) signed a Memorandum of Understanding (In February 2024) with which bank to focus on co-lending and loan syndication of Renewable Energy (RE) projects across India?
(a) State Bank of India
(b) Punjab National Bank
(c) HDFC Bank
(d) ICICI Bank
(e) Axis Bank

Q10. The United Nations (UN) observes World Day of Social Justice annually on 20 February to raise awareness about the need for social justice. The theme for the United Nations (UN)’s World Day of Social Justice in 2024 was __________.
(a) Empowering People, Ensuring Inclusiveness and Equality
(b) A Call to Action to Combat Social Inequalities
(c) Promoting Social Justice through Inclusive Development
(d) Global Coalition for Social Justice: Bridging Gaps, Building Alliances
(e) Strengthening Social Justice through Community Empowerment

Solutions

S1. Ans. (d)
Sol. South Indian Bank was honored with the title of Best Technology Bank of the Year at the 19th IBA Annual Banking Technology Conference, Expo, & Citations, showcasing its outstanding performance in leveraging technology for banking services.
The bank’s innovative approach and commitment to utilizing technology effectively were recognized with a total of six prestigious awards.
This included emerging as the winner in three different categories, securing the runner-up position in one category, and receiving special mentions in two others, highlighting its leadership and excellence in banking technology.

S2. Ans. (d)
Sol. Reliance Industries Limited (RIL) has been recognized as India’s most valuable company for the 3rd consecutive year, according to the 2023 Burgundy Private Hurun India 500 report, released by Axis Bank’s Burgundy Private and Hurun India.
With a staggering value of Rs 15,64,663 crore, RIL continues to lead the Indian corporate sector, demonstrating its dominant position and significant impact on the country’s economy.
RIL is followed by Tata Consultancy Service (TCS) with a value of Rs 12,36,229 crore and HDFC Bank with Rs. 11,25,975 crores at 2nd and 3rd spot.

S3. Ans. (c)
Sol. Policybazaar Insurance Brokers Private Limited (Policybazaar) received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) to upgrade its license from a direct insurance broker (Life and General) to a composite insurance broker.
With this approval, Policybazaar is allowed to sell reinsurance products besides being a pure play platform focused on insurance buying.Top of Form
The approval also deepens the insurance penetration in the country by bringing more technology, process control, and data analytics-based innovation into reinsurance capacity. Policybazaar is a wholly-owned subsidiary of Gurugram-based PB Fintech Limited.

S4. Ans. (e)
Sol. Gulzar, a celebrated Urdu poet, and Jagadguru Rambhadracharya, a distinguished Sanskrit scholar, have been named the recipients of the 58th Jnanpith Award 2023. This award, one of the most prestigious in Indian literature, recognizes their exceptional contributions to the rich tapestry of Indian literature.
The Jnanpith Award not only honors their literary achievements but also celebrates their profound impact on Indian culture and literature through their works in Urdu and Sanskrit, respectively.
The award includes a prize money of Rs 21 lakh, a statue of Vagdevi, and a citation, marking a significant recognition of their lifelong dedication to literature.

S5. Ans. (e)
Sol. The authorized capital of the state-run Food Corporation of India (FCI) has been increased from ₹10,000 crore to ₹21,000 crore by the Government of India.
FCI is the central government’s nodal agency that undertakes the procurement of foodgrains at a minimum support price (MSP) to protect the interest of farmers.
It also maintains strategic stocks and distributes the grains under different welfare schemes.
The increase in the authorized capital will reduce the interest burden, decrease the economic cost and ultimately affecting the government subsidy positively.

S6. Ans. (c)
Sol. The ‘Sagar Aankalan’ guidelines were introduced with the primary purpose of enhancing the efficiency and competitiveness of Indian ports.
Union Minister Sarbananda Sonowal spearheaded the launch of the ‘Sagar Aankalan’ guidelines for Indian port performance index, signaling a concerted effort towards port efficiency enhancement.
Enforced nationwide, these guidelines for National Benchmarking of Indian Ports Performance are set to revitalize the country’s maritime infrastructure. Top of Form

S7. Ans. (d)
Sol. Arunachal Pradesh attained full statehood on February 20th, 1987.
This significant milestone in the history of the state is celebrated annually as its Foundation Day, marking its transition from a Union Territory to a full-fledged state within the Indian Union.
This occasion commemorates the region’s transition from the North-East Frontier Agency (NEFA) to a distinct state within the Indian union.

S8. Ans. (e)
Sol. Shubman Gill, an Indian cricketer, has been appointed as the new “state icon” for Punjab by the Punjab Chief Electoral Officer’s office.
This appointment aims to encourage greater voter engagement and participation in the upcoming Lok Sabha elections, leveraging Shubman Gill’s popularity and influence to inspire the youth and the general populace of Punjab to actively participate in the democratic process.

S9. Ans. (b)
Sol. The Indian Renewable Energy Development Agency (IREDA) and Punjab National Bank (PNB) have entered into a Memorandum of Understanding (MoU) aiming at co-lending and loan syndication for Renewable Energy projects throughout India.
Through this MoU and prior agreements with other financial institutions, IREDA is set to fund large-scale RE projects, in line with India’s effort to achieve a 500 GW Non-Fossil-based electricity generation capacity by 2030.

S10. Ans. (d)
Sol. The theme for the United Nations (UN)’s World Day of Social Justice in 2024 was “Global Coalition for Social Justice: Bridging Gaps, Building Alliances.”
This theme emphasizes the critical need for collective action and collaboration across different sectors and communities to address social injustices, including poverty, gender inequality, lack of employment opportunities, and barriers to accessing education, healthcare, and social services.