Current Affairs Quiz 08 August 2020: Based on the Current Affairs and Important News of 08 August 2020 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 08 August 2020. Attempt our daily current affairs quiz on our mobile app too.
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- What is the new permissible loan to value ratio (LTV) for loans against pledge of gold ornaments and jewellery for non-agricultural purposes?
A) 70%
B) 90%
C) 80%
D) 100%
View answer
Option B
Explanation: RBI has increased the permissible loan to value ratio (LTV) for loans against pledge of gold ornaments and jewellery for non-agricultural purposes from 75 per cent to 90 per cent. This relaxation shall be available till March 31, 2021.
- What is the rank of Reliance Industries Limited in the FutureBrand Index 2020?
A) 6th
B) 10th
C) 2nd
D) 4th
View answer
Option C
Explanation: Billionaire Mukesh Ambani owned oil-to-telecom conglomerate Reliance Industries has been ranked as second biggest brand in the world in the FutureBrand Index 2020. The 2020 index is topped by technology giant Apple.
- The first ever Kisan Rail, launched by the Indian Railways, will travel between which states of the country?
A) Maharashtra- Bihar
B) Rajasthan-Madhya Pradesh
C) Punjab-Haryana
D) Gujarat-Maharashtra
View answer
Option A
Explanation: Indian Railways’ first Kisan Rail, exclusively meant to transport farm produce, was flagged off by Union Minister of Agriculture Narendra Singh Tomar and Railway Minister Piyush Goyal via videoconferencing on 7 August 2020.. The train will run on weekly basis, between Deolali in Maharashtra to Danapur in Bihar, covering a distance of 1,519 kilometres in 32 hours.
- How much amount of additional standing liquidity facility (ASLF) has been announced by RBI for NABARD and NHB each, during the recent MPC meet held from August 4 to 6, 2020?
A) Rs 2000 crore
B) Rs 5000 crore
C) Rs 3000 crore
D) Rs 1000 crore
View answer
Option B
Explanation: National Housing Bank (NHB) and National Bank for Agriculture and Rural Development (NABARD) will be provided with an additional standing liquidity facility (ASLF) of Rs 5,000 crore each.
- Defence Institute of Advanced Technology (DIAT) has won the first position in Smart India Hackathon (SIH)-2020. Where is the DIAT located?
A) Mumbai
B) New Delhi
C) Hyderabad
D) Pune
View answer
Option D
Explanation: The Pune-based Defence Institute of Advanced Technology (DIAT), an autonomous organization under the Department of Defence Research & Development (DRDO) has won the first prize in Smart India Hackathon (SIH)-2020, which was held from 1-3 August 2020, at Noida Institute of Engineering & Technology (NIET), Uttar Pradesh.
- Dipankar Ghose is the winner of 2020 Prem Bhatia Award. The award is presented annually for extraordinary contribution in which field?
A) Film & Television
B) Sports
C) Journalism
D) Literature
View answer
Option C
Explanation: The 2020 Prem Bhatia Awards, given for outstanding journalism, have been given to Dipankar Ghose, Special Correspondent of Indian Express and non-profit journalism website People’s Archive of Rural India (PARI) for their coverage of COVID-19 and its impact across the country.
- RBI has formed an expert panel on Resolution Framework for Covid19-related Stress. Who is the head of this panel?
A) K.V. Kamath
B) Kalpana Morparia
C) Nandan Nilekani
D) Hasmukhbhai Parekh
View answer
Option A
Explanation: The Reserve Bank of India has announced the constitution of an Expert Committee to make recommendations on the required financial parameters to be factored in the Resolution Framework for Covid19-related Stress’. The committee will be headed by Shri K.V. Kamath. (President of New Development Bank)
- When is the National Handloom Day celebrated in India?
A) 5 August
B) 7 August
C) 8 August
D) 6 August
View answer
Option B
Explanation:The National Handloom Day is observed annually on 7 August in India, to honour the handloom weavers in the country and highlight the contribution of handloom industry towards the socioeconomic development of the country and increase income of the weavers. 2020 marks the 6th National Handloom Day.
- Shirley Ann Grau, was a renowned _________
A) Actress
B) Sportswomen
C) Novelist
D) Singer
View answer
Option C
Explanation: Shirley Ann Grau, a Pulitzer Prize-winning fiction writer from America, whose stories and novels were based primarily in the Deep South, has passed away. She was 91. Grau won the 1965 Pulitzer Prize for her fourth book, “The Keepers of the House.”
- RBI has announced to launch a new mechanism named Positive Pay to stop frauds related to _______
A) KYC
B) Digital Transaction
C) Mortgage Loan
D) Cheques
View answer
Option D
Explanation: The RBI shall soon launched a mechanism named Positive Pay for all cheques of value ₹50,000 and above to further augment customer safety in cheque payments and reduce instances of fraud occurring on account of tampering of cheque leaves.
- Quit India Day is observed every year on which day?
A) 8 August
B) 7 August
C) 6 August
D) 5 August
View answer
Option A
Explanation: Every year, the Quit India Day (or August Kranti Day) is observed on 8 August to commemorate the anniversary of Quit India Movement, launched by Father of Nation, Mohandas Karamchand Gandhi, on 8 August 1942 at the All-India Congress Committee session in Bombay.
- WTF Sports is a newly launched fantasy sports gaming platform. Who among these has been roped in as the first global brand ambassador of the brand?
A) Smriti Mandhana and Shikhar Dhawan
B) Shafali Verma and Rohit Sharma
C) Mithali Raj and Virat Kohli
D) Harmanpreet Kaur and Suresh Raina
View answer
Option D
Explanation: Fantasy sports gaming platform WTF Sports-India and Global, has been officially launched on 6 August 2020. The WTF Sports has appointed famed Indian cricketers, Harmanpreet Kaur, the captain of the Indian squad at the ICC Women’s T20 World Cup in 2020 and Suresh Raina, the IPL superstar as global brand ambassadors.
- 2020 is the _________ anniversary of Quit India Movement
A) 76th
B) 78th
C) 75th
D) 77th
View answer
Option B
Explanation: In 2020, we are celebrating the 78th anniversary of Quit India Day.
- RBI has introduced the ODR system to deal with which issue?
A) NPA
B) Large overdue advances to farmers
C) Money Laundering
D) Failed Digital Payment Disputes
View answer
Option C
Explanation: The Reserve Bank of India has announced the introduction of an Online Dispute Resolution (ODR) system for resolving customer disputes and grievances pertaining to digital payments.
- Who has been appointed as the new Chairman of the Union Public Service Commission (UPSC)?
A) Pradeep Kumar Joshi
B) Bharat Bhushan Vyas
C) Sujata Mehta
D) Bhim Sain Bassi
View answer
Option A
Explanation: Pradeep Kumar Joshi, an Educationist Professor, has been appointed as the new Chairman of the Union Public Service Commission (UPSC) on 7 August 2020.
- Which is the topmost brand globally in the FutureBrand Index 2020?
A) Microsoft
B) Apple
C) Amazon
D) Samsung
View answer
Option B
Explanation: The 2020 index is topped by technology giant Apple. Samsung is ranked third, followed by Nvidia, Moutai, Nike, Microsoft, ASML, PayPal and Netflix among top 10 global brands.
- In 2020, we are celebrating ___________ edition of the National Handloom Day
A) 4th
B) 8th
C) 5th
D) 6th
View answer
Option D
Explanation: 2020 marks the 6th National Handloom Day.
- RBI has introduced a pilot scheme for small value payments in offline mode, under which the maximum limit set for single transaction is __________
A) Rs 500
B) Rs 700
C) Rs 200
D) Rs 1000
View answer
Option C
Explanation: The Reserve Bank of India has launched pilot scheme for small value payments in offline mode. The pilot scheme shall be undertaken till March 31, 2021 only. Maximum limit of a payment transaction will be Rs 200. (For a single transaction.) The total limit for offline transactions on an instrument shall be Rs 2,000, at any point of time.
