Daily Current Affairs Quiz 27 August 2021
Daily Current Affairs Quiz 27 August 2021: Based on the Current Affairs and Important News of 27 August 2021 we have framed important current affairs questions for banking and competitive exams. These current affairs quiz questions will be helpful for upcoming competitive exams. Give our online current affairs test every day to be prepared for all Current Affairs Quiz 27 August 2021.
- Government has recently replaced the Unmanned Aircraft Systems (UAS) Rules, 2021 with liberalized Drone Rules, 2021. What is the maximum penalty for violation of liberalized Drone Rules, 2021?
A) Rs 1 lakh
B) Rs 2 lakh
C) Rs 3 lakh
D) Rs 5 lakh
View answer
Option A
Explanation: Ministry of Civil Aviation has repealed the Unmanned Aircraft Systems (UAS) Rules, 2021 and replace the same with the liberalized Drone Rules, 2021. Maximum penalty for violations reduced to INR 1 lakh.
- Which bank has topped the EASE Reforms Index Award 2021 (EASE 3.0 Awards)?
A) Union Bank of India
B) Bank of Baroda
C) State Bank of India
D) Indian Bank
View answer
Option C
Explanation:State Bank of India is the Overall winner of the EASE Reforms Index Award 2021 (EASE 3.0 Awards). Bank of Baroda is second and Union Bank of India is third.
- RBI has recently announced to include the beneficiaries of which scheme from tier-1 and tier-2 centres under PIDF Scheme?
A) PM Ujjwala Yojana
B) Saubhagya Scheme
C) PM KISAN
D) PM SVANidhi Scheme
View answer
Option D
Explanation:The Reserve Bank of India has announced to include street vendors of tier-1 and tier-2 centres, identified as part of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) as beneficiaries under the Payments Infrastructure Development Fund (PIDF) Scheme.
- Indian government has approved an increase in the family pension of bank employees to what percent of the last salary drawn?
A) 40%
B) 30%
C) 20%
D) 50%
View answer
Option B
Explanation:Central Government has approved the Indian Banks’ Association’s (IBA) proposal to increase the family pension to 30% of the last salary drawn.
- Carol Furtado has recently been named as the interim CEO of which bank?
A) ESAF Small Finance Bank
B) Equitas Small Finance Bank
C) Ujjivan Small Finance Bank
D) Utkarsh Small Finance Bank
View answer
Option C
Explanation:Ujjivan Small Finance Bank has named Carol Furtado as the interim CEO of the bank after the whole time CEO Nitin Chugh resigned recently.
- The DRDO is showcasing its 11 products at the International Military and Technical Forum ‘ARMY 2021’. The annual exhibition of armament and military equipment is organised by which country?
A) Australia
B) United States
C) France
D) Russia
View answer
Option D
Explanation:The International Military and Technical Forum ‘ARMY 2021’ has been organised in Moscow, Russia from August 22 to 28, 2021, at Patriot Expo, Kubinka Air Base and Alabino military training grounds.
- The Ministry of Finance has notified the Enhanced Access & Service Excellence, EASE-4.0 for 2021-22. What is the theme of the latest edition of EASE?
A) Technology-enabled, simplified, and collaborative banking
B) Smart, Tech-enabled Banking for Aspiring India
C) CLEAN and SMART banking
D) Roadmap for Banking of the Future
View answer
Option A
Explanation:Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman has unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22. The major theme for EASE 4.0 is “Technology-enabled, simplified, and collaborative banking.” EASE stands for- Enhanced Access & Service Excellence (EASE).
- Who is the author of the book ‘Accelerating India: 7 Years of Modi Government’?
A) K. K. Shailaja
B) K J Alphons
C) Pinarayi Vijayan
D) M. K. Stalin
View answer
Option B
Explanation:Prime Minister, Shri Narendra Modi received a book titled ‘Accelerating India: 7 Years of Modi Government’, on August 26, 2021, by former Union Minister, Shri K J Alphons.
- The Women Entrepreneurship Platform “WEP Nxt” has been launched by NITI Aayog in partnership with which company?
A) IBM
B) Microsoft
C) Cisco
D) Infosys
View answer
Option C
Explanation: NITI Aayog in partnership with Cisco has launched the next phase of the Women Entrepreneurship Platform (WEP) titled “WEP Nxt” to foster women entrepreneurship in India.
- How much amount has been approved by India as Line of Credit (LoC) to be funded for the Greater Male Connectivity project (GMCP) in Maldives?
A) USD 300 million
B) USD 400 million
C) USD 200 million
D) USD 100 million
View answer
Option B
Explanation:The Government of India and Maldives inked the contract for the mega Greater Male Connectivity project (GMCP), on August 26, 2021. The Government of India is funding the implementation of GMCP through a USD 400 million Line of Credit (LoC) and USD 100 million grant. The USD 400 million LoC will be provided by Export-Import Bank of India (Exim Bank). The project will be developed by Indian construction and engineering firm, AFCONS, based in Mumbai, Maharashtra.
- RBI has extended the scope of tokenization to consumer devices like laptops, desktops, wearables, IoT devices, etc. The ultimate responsibility for the card tokenization services is rendered with _____________?
A) Clearing Corporation of India Ltd.
B) NPCI
C) RBI
D) Authorized card payment networks
View answer
Option D
Explanation: In 2019, RBI had permitted authorized card payment networks to offer card tokenisation services to any token requestor (i.e., third-party app provider) through mobile phones and tablets. Now RBI has extended the scope of tokenization to include consumer devices – laptops, desktops, wearables (wrist watches, bands, etc.), Internet of Things (IoT) devices, etc. The ultimate responsibility for the card tokenization services rendered rests with the authorized card networks.
- Hitendra Dave has been appointed as the Chief Executive Officer (CEO) of which bank?
A) Citibank India
B) IndusInd Bank
C) HSBC India
D) DBS India
View answer
Option C
Explanation:The Reserve Bank of India (RBI) has approved the appointment of Hitendra Dave as the Chief Executive Officer (CEO) of HSBC India.
- The International Military-Technical Forum ARMY 2021 is which edition of the annual event?
A) 7th
B) 5th
C) 4th
D) 8th
View answer
Option A
Explanation: The ARMY 2021 is the 7th edition of the annual International Military-Technical Forum.
- As per the government data, Public Sector Banks reported a profit in FY21 for the first time, after facing five years of continuous losses. What was the amount of profit gained by banks in FY21?
A) Rs. 43,847 crore
B) Rs. 24,984 crore
C) Rs. 52,638 crore
D) Rs. 31,817 crore
View answer
Option D
Explanation:Public Sector Banks have reported a profit of Rs. 31,817 crore in FY21 as compared to a loss of Rs. 26,016 crore in FY20. This is the first year when PSBs have reported profit after five years of losses.
- What is the present corpus of the Payments Infrastructure Development Fund (PIDF) Scheme launched by RBI?
A) Rs. 345 crore
B) Rs. 250 crore
C) Rs. 400 crore
D) Rs. 525 crore
View answer
Option A
Explanation: PIDF presently has a corpus of Rs. 345 crore.
