Current Affairs Quiz 29 June 2020: Based on the Current Affairs and Important News of 29 June 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 29 June 2020. Attempt our daily current affairs quiz on our mobile app too.
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- RBI has extended the timeline of enhanced borrowing facility provided to scheduled banks under the marginal standing facility (MSF) scheme to meet their liquidity shortages till September 2020. What is the new borrowing limit?
A) 3%
B) 2%
C) 4%
D) 5%
View answer
Option A
Explanation: In March 2020, the Reserve Bank of India, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 percent to 3 percent of their Net Demand and Time Liabilities (NDTL) as a temporary measure to deal with cash crunch caused by coronavirus pandemic. This relaxation was effective from March 27, 2020 and was granted till June 30, 2020. Now, RBI has decided to extend this enhanced borrowing facility provided to the banks to meet their liquidity shortages till September 30, 2020.
- How much amount has been approved by the World Bank under the Strengthening Teaching-Learning and Results for States Program (STARS) of India to improve quality of education system in 6 Indian States?
A) USD 400 million
B) USD 500 million
C) USD 200 million
D) USD 100 million
View answer
Option B
Explanation: The World Bank has approved loan worth $500 million (about Rs 3,700 crore) for Strengthening Teaching-Learning and Results for States Program (STARS) on June 24, 2020, to improve quality and governance of school education in six Indian states.
- The Swavalamban Crisis Responsive Fund has been launched by which organisation?
A) RBI
B) SIDBI
C) SEBI
D) NABARD
View answer
Option B
Explanation: The Small Industries Development Bank of India (SIDBI) has set up ‘Swavalamban Crisis Responsive Fund’ to support free onboarding for micro, small and medium enterprises (MSMEs) on trade receivables discounting system (TReDS). The initiative aims to offer relief to the MSMEs from severely crunched cash flow, during these challenging times. The free onboarding of MSMEs would be available till September 2000. It is an open-ended fund with the target to onboard 10,000 MSMEs during this period.
- When is the National Statistics Day celebrated in India?
A) 28 June
B) 29 June
C) 27 June
D) 26 June
View answer
Option B
Explanation: The Government of India celebrates Statistics Day on June 29 every year since 2007 to popularize the use of Statistics in everyday life and sensitize the public as to how Statistics helps in shaping and framing policies. The day marks the birth anniversary of Father of Indian Statistics, Prof. P C Mahalanobis, in recognition of his invaluable contribution in establishing the National Statistical System.
- Name the indigeneously developed Advanced Torpedo Decoy System recently inducted by the Indian Navy?
A) Karaal
B) Bheeshma
C) Maareech
D) Keshari
View answer
Option C
Explanation: The Indian Navy has inducted the Advanced Torpedo Decoy System ‘Maareech’ in its fleet on 26 June 2020, to further enhance the Anti-Submarine Warfare capability of the Indian Navy. Maareech is capable of being fired from all frontline warships.
- RBI has extended the last date of relaxation on the minimum daily maintenance of the Cash Reserve Ratio (CRR) by the scheduled banks till 25 September 2020. What is the relaxed rate of CRR that banks are required to maintain?
A) 60%
B) 90%
C) 70%
D) 80%
View answer
Option D
Explanation: Central Bank has extended the relaxation on the minimum daily maintenance of the Cash Reserve Ratio (CRR) at 80 percent for a further period of three months till September 25, 2020. On March 27, the minimum daily maintenance of the CRR was reduced from 90 percent of the prescribed CRR to 80 percent till June 26, 2020 due to the hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements.
- India is among the top three nations to get detailed information from Swiss Bank about the bank accounts of its residents. Which are the other two countries?
A) Ireland and Australia
B) United Kingdom and Brazil
C) Germany and France
D) China and Denmark
View answer
Option C
Explanation: India is among the top-three countries to get detailed information from Switzerland on request about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation, as per the latest study by Organisation for Economic Cooperation and Development’s (OECD’s) Global Forum on transparency and exchange of information for tax purposes. The other two countries were France and Germany.
- PhonePe has recently partnered with which bank on UPI multi-bank model, to enable the users use multiple UPI IDs?
A) Kotak Mahindra Bank
B) State Bank of India
C) Axis Bank
D) ICICI Bank
View answer
Option D
Explanation: Flipkart-owned PhonePe has partnered with ICICI Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI and Yes Bank”s handles. The ‘@ibl’ handle for ICICI Bank users and ‘@ybl’ handle for YES Bank users will enable easy, quick and contactless payment services to over 200 million registered PhonePe users.
- What is the theme of the 2020 National Statistics Day?
A) SDG- 1 & SDG- 7
B) SDG- 4 & SDG- 6
C) SDG- 3 & SDG- 5
D) SDG-3 & SDG- 8
View answer
Option C
Explanation: The theme of Statistics Day, 2020 is SDG- 3 (Ensure healthy lives and promote well-being for all at all ages) & SDG- 5 (Achieve gender equality and empower all women and girls).
- TReDS is an electronic platform for facilitating the financing of trade receivables of MSMEs through multiple financiers. What does TReDs stands for?
A) Trade Receivables Discounting System
B) Trade Receipt Depreciation System
C) Trade Regulatory Distribution System
D) Trade Return Demand System
View answer
Option A
Explanation: Trade Receivables Discounting System (TReDS)
