General Awareness Quiz for Bank Mains Exams 2024-07th March

Q1. Which bank has approved a $23 million loan to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT) in India.
(a) International Monetary Fund (IMF)
(b) World Bank
(c) Asian Infrastructure Investment Bank (AIIB)
(d) Asian Development Bank (ADB)
(e) United Nations Development Programme (UNDP)
Q2. The Cabinet Committee on Security (CCS) has approved (In February 2024) the procurement of more than 200 BrahMos Extended Range (ER) supersonic cruise missiles for deployment on Indian Navy Warships. What is the worth of this deal?
(a) Rs 5,000 crore
(b) Rs 10,000 crore
(c) Rs 15,000 crore
(d) Rs 19,000 crore
(e) Rs 25,000 crore
Q3. The Fintech startup Paymart India Pvt. Ltd. has partnered (In February 2024) with several Indian banks to introduce India’s 1st Virtual ATM (VATM), offering innovative virtual, cardless, and hardware-less cash withdrawal services. Which of the following banks is NOT a partner in this initiative?
(a) IDBI Bank
(b) Indian Bank
(c) HDFC Bank
(d) Karur Vysya Bank
(e) Jammu & Kashmir Bank
Q4. The Ministry of Ports, Shipping & Waterways (MoPSW) collaborated (In February 2024) with which Indian Institute of Management (IIM) to establish the first ‘Gati Shakti Research Chair’ in India, aiming to enhance academic research in multimodal logistics, especially focusing on the North-East region?
(a) IIM Ahmedabad
(b) IIM Bangalore
(c) IIM Calcutta
(d) IIM Shillong
(e) IIM Lucknow
Q5. ‘Dharma Guardian,’ the 5th edition of the joint annual military training exercise that commenced on 25th February 2024 at Mahajan Field Firing Ranges in Rajasthan, is held between India and which country?
(a) United States
(b) Russia
(c) Japan
(d) Australia
(e) France
Q6. In which state has SJVN Limited, a Mini Ratna, Category-I, and Schedule ‘A’ Central Public Sector Enterprise under the administrative control of the Ministry of Power, Government of India, begun the successful commercial operation of its 50 MW Gujrai Solar Power Station?
(a) Rajasthan
(b) Gujarat
(c) Tamil Nadu
(d) Madhya Pradesh
(e) Uttar Pradesh
Q7. Kalyani Steel Ltd signed an MoU with which state government to set up a manufacturing facility, involving an investment of Rs 11,750 crore, for producing titanium metal, aerospace and automotive components, and advanced speciality steel at Gajamara in Dhenkanal district, expected to create 10,000 job opportunities?
(a) Gujarat
(b) Odisha
(c) Maharashtra
(d) Karnataka
(e) West Bengal
Q8. Zurich Insurance will acquire what percent stake in Kotak Mahindra Bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche?
(a) 50%
(b) 60%
(c) 70%
(d) 80%
(e) 90%
Q9. In February 2024, the book titled “The Great Flap of 1942: How the Raj Panicked over a Japanese Non-invasion” was authored by whom?
(a) Ramachandra Guha
(b) Vikram Seth
(c) Mukund Padmanabhan
(d) Shashi Tharoor
(e) Amitav Ghosh
Q10. Central Excise Day is observed every year to commemorate the establishment of the Central Excise and Salt Act. On which date is this day observed?
(a) 14th February
(b) 24th February
(c) 19th February
(d) 15th February
(e) 25th February

Solutions

S1. Ans. (d)
Sol. The Asian Development Bank (ADB) has approved a loan of USD 23 million to India for the project ‘India: Promoting Research and Innovation through Development of Fintech Institute at Gujarat International Finance Tec-City (GIFT City) Project’.
The project aims to construct an inclusive, sustainable, and climate-resilient International Fintech Institute (IFI) inside GIFT City in Gandhinagar, Gujarat.

S2. Ans. (d)
Sol. This strategic move, aimed at enhancing the operational efficiency and combat readiness of the Indian Navy, involves a substantial deal worth around Rs 19,000 crore, underlining the government’s commitment to strengthening the country’s defense infrastructure.
The Cabinet Committee on Security (CCS) has sanctioned the acquisition of over 200 BrahMos Extended Range (ER) supersonic cruise missiles, along with associated equipment, for the Indian Navy Warships, marking a significant boost to India’s maritime defense capabilities.

S3. Ans. (c)
Sol. HDFC Bank is not listed among the banks that have partnered with Paymart India for this innovative service, making it the correct answer to the question.
Paymart India Pvt. Ltd., a Fintech startup, has entered into partnerships with IDBI Bank, Indian Bank, Axis Bank, Jammu & Kashmir Bank, and Karur Vysya Bank (KVB) to launch India’s first Virtual ATM (VATM) service.
This service aims to provide a novel approach to cash withdrawals, being virtual, cardless, and without the need for physical hardware.

S4. Ans. (d)
Sol. In February 2024, the Ministry of Ports, Shipping & Waterways (MoPSW) collaborated with the Indian Institute of Management (IIM) Shillong to establish the first ‘Gati Shakti Research Chair’ in India. This initiative aims to enhance academic research in multimodal logistics, particularly focusing on the North-East region.
The collaboration between MoPSW and IIM Shillong is expected to contribute significantly to the development of logistics and infrastructure planning, especially in the strategic North-East region, aligning with the objectives of the National Logistics Policy for improving efficiency and reducing logistics costs.

S5. Ans. (c)
Sol. This exercise underscores the deepening strategic ties between India and Japan, focusing on enhancing military cooperation, understanding, and interoperability between the two nations’ armed forces.
‘Dharma Guardian’ is the 5th edition of the joint annual military training exercise between India and Japan, which began on 25th February 2024 at the Mahajan Field Firing Ranges in Rajasthan.
The exercise is scheduled to be conducted from 25th February to 9th March 2024.

S6. Ans. (e)
Sol. SJVN Limited has initiated the successful commercial operation of its 50 MW Gujrai Solar Power Station in Kanpur Dehat, Uttar Pradesh.
With this milestone, the total installed power capacity of SJVN stands at 2,277 MW, with ten power stations currently operational.
The 50 MW Gujrai Solar Power Station has been executed by SJVN through its renewable arm, SJVN Green Energy Limited (SGEL) at a cost of Rs. 281 crores.

S7. Ans. (b)
Sol. Kalyani Steel Ltd has entered into a Memorandum of Understanding (MoU) with the Odisha government to establish a manufacturing facility with an investment of Rs 11,750 crore.
The project, located at Gajamara in Dhenkanal district, will focus on the production of titanium metal, aerospace and automotive components, and advanced speciality steel, aiming to generate 10,000 job opportunities.

S8. Ans. (c)
Sol. Zurich Insurance has agreed to acquire a 70% stake in Kotak Mahindra Bank’s general insurance arm, Kotak Mahindra General Insurance, for a total consideration of Rs 5,560 crore.
This acquisition is planned to be completed in a single tranche, marking a significant investment by Zurich Insurance into the Indian insurance market.
In November 2023, the bank had announced the sale of a 51 percent stake in Kotak Mahindra General Insurance to Zurich Insurance for Rs 4,051 crore through a combination of fresh capital infusion and share purchase, followed by a 19 percent stake sale within a period of three years.

S9. Ans. (c)
Sol. “The Great Flap of 1942: How the Raj Panicked over a Japanese Non-invasion” is a book authored by Mukund Padmanabhan.
The work delves into the historical context of 1942, exploring the British Raj’s reactions and preparations for a Japanese invasion of India that ultimately never occurred.
It is published by Vintage Books.

S10. Ans. (b)
Sol. Central Excise Day is observed every year on 24th February.
This day marks the commemoration of the enactment of the Central Excise and Salt Act in 1944.
The observance of Central Excise Day is significant as it highlights the importance of the role played by the Central Board of Excise and Customs in the collection of excise duties and its contribution to the country’s economy.