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Current Affairs Quiz 19th May 2024

Directions for the quiz:

1. This quiz, that is the Current Affairs Quiz 19th May 2024, is meant to be a check for your learning and is meant to serve as a tool for assessment.

2. Current Affairs Quiz 19th May 2024 is designed to check your Current Affairs General Knowledge and provide you with an assessment of the same.

3. Each question in Current Affairs Quiz 19th May 2024 followed by 4 options. Select the most appropriate option for the question.

4. Before you take this quiz, we would recommend to you to go through the article, Daily Current Affairs Today 19th May, 2024

 

Question 1:
Which countries are in talks to finalize a Free Trade Agreement (FTA)?

A) USA and Canada
B) UK and Germany
C) India and UK
D) Australia and New Zealand

Answer and Explanation

Answer: C) India and UK

  • Explanation: India and the UK are working towards finalizing a Free Trade Agreement as part of their strategic dialogue.

 

Question 2:
What is the scheduled round for the next discussion on the UK-India FTA?

A) 12th
B) 13th
C) 14th
D) 15th

Answer and Explanation

Answer: C) 14th

  • Explanation: The 14th round of discussions for the UK-India FTA is scheduled for January 2024.

 

Question 3:
Which bank recently increased interest rates on short-term retail fixed deposits?

A) HDFC Bank
B) State Bank of India
C) ICICI Bank
D) Kotak Mahindra Bank

Answer and Explanation

Answer: B) State Bank of India

  • Explanation: The State Bank of India has increased the rates on short-term retail fixed deposits by 25 to 75 basis points.

 

Question 4:
What was the percentage increase in India’s merchandise exports in April?

A) 0.5%
B) 1%
C) 1.5%
D) 2%

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Answer and Explanation

Answer: B) 1%

  • Explanation: India’s merchandise exports increased by a slight 1% in April.

 

Question 5:
Which sectors drove the growth in India’s merchandise exports?

A) Textiles and Handicrafts
B) Electronics and Pharmaceuticals
C) Agriculture and Dairy
D) Automotive and Machinery

Answer and Explanation

Answer: B) Electronics and Pharmaceuticals

  • Explanation: The growth was driven by strong performance in sectors such as electronics, chemicals, petroleum products, and pharmaceuticals.

 

Question 6:
What is the Open Network for Digital Commerce (ONDC)?

A) A private sector initiative to boost online sales
B) A government-supported initiative to democratize digital commerce
C) A new digital currency introduced by the RBI
D) A cybersecurity protocol for digital transactions

Answer and Explanation

Answer: B) A government-supported initiative to democratize digital commerce

  • Explanation: ONDC is a government-supported initiative that has attracted significant interest from startups and unicorns to democratize digital commerce in India.

 

Question 7:
What is the goal of ISRO’s Mangalyaan-2 mission?

A) To orbit Venus
B) To send a spacecraft to the Sun
C) To land a rover and a helicopter on Mars
D) To explore the asteroid belt

Answer and Explanation

Answer: C) To land a rover and a helicopter on Mars

  • Explanation: ISRO’s Mangalyaan-2 aims to land a rover and a helicopter on Mars, advancing India’s capabilities in interplanetary exploration.

 

Question 8:
What was the outcome of India’s trade deficit in April?

A) It remained the same
B) It decreased
C) It widened to a five-month high
D) It turned into a surplus

Answer and Explanation

Answer: C) It widened to a five-month high

  • Explanation: Despite a slight increase in exports, the trade deficit widened due to a significant increase in imports, especially in gold and crude oil.

 

Question 9:
Who are some of the unicorns that joined the ONDC initiative?

A) Flipkart, Amazon, and Snapdeal
B) Zerodha, EaseMyTrip, and Cars24
C) Ola, Uber, and Lyft
D) Paytm, PhonePe, and Google Pay

Answer and Explanation

Answer: B) Zerodha, EaseMyTrip, and Cars24

  • Explanation: Unicorns like Zerodha, EaseMyTrip, and Cars24 have joined the ONDC initiative, reflecting a substantial movement toward democratizing digital commerce in India.

 

Question 10:
What is the main focus of the 2030 Roadmap discussed in the UK-India Strategic Dialogue?

A) Military cooperation
B) Educational exchanges
C) Economic cooperation across various sectors
D) Cultural exchange programs

Answer and Explanation

Answer: C) Economic cooperation across various sectors

  • Explanation: The 2030 Roadmap established in 2021 aims to boost cooperation across various sectors between India and the UK.

 
Question 11:
What significant imports contributed to India’s widened trade deficit in April?

A) Textiles and garments
B) Gold and crude oil
C) Electronics and machinery
D) Agricultural products

Answer and Explanation

Answer: B) Gold and crude oil

  • Explanation: The trade deficit widened significantly due to a 10.25% increase in imports, with notable rises in gold and crude oil imports.

 

Question 12:
Which significant milestones are part of India’s 2030 Roadmap with the UK?

A) Increasing military exports
B) Reducing carbon emissions
C) Boosting educational collaborations
D) Enhancing economic ties and cooperation

Answer and Explanation

Answer: D) Enhancing economic ties and cooperation

  • Explanation: The 2030 Roadmap focuses on enhancing economic ties and cooperation across various sectors between India and the UK.

 

Question 13:
What effect is expected from SBI’s increase in interest rates on short-term deposits?

A) Decrease in loan interest rates
B) Increase in the stock market activity
C) Influence other banks to offer better returns
D) Reduce the number of depositors

Answer and Explanation

Answer: C) Influence other banks to offer better returns

  • Explanation: SBI’s increase in rates is expected to influence other banks to offer better returns to depositors, reflecting changes in economic conditions.

 

Question 14:
What new technologies will ISRO’s Mangalyaan-2 mission include?

A) Only a rover
B) A rover and a satellite
C) A rover and a helicopter
D) Only a helicopter

Answer and Explanation

Answer: C) A rover and a helicopter

  • Explanation: ISRO’s Mangalyaan-2 mission plans to include both a rover and a helicopter to advance India’s capabilities in Mars exploration.

 

Question 15:
Which organizations have joined the ONDC to democratize digital commerce in India?

A) Traditional retailers
B) Startups and unicorns
C) Government agencies
D) International corporations

Answer and Explanation

Answer: B) Startups and unicorns

  • Explanation: 125 startups and several unicorns like Zerodha, EaseMyTrip, and Cars24 have joined the ONDC initiative, reflecting a substantial movement toward democratizing digital commerce in India.

 

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