General Awareness PYQs

The correct answer is Stockholm.

Important Points

Nobel Prize:

• It is given to only living scientists and can be shared by a maximum of three persons in each category: Chemistry, Physics, Physiology or Medicine, Literature, Economics, and for the work towards World Peace.
• It aims at motivating the younger generation to seek careers in science and technology.
• All efforts are made to project the lifetime achievements of a Nobel laureate who has dedicated to revealing the verifiable truth as the hero of a narrow field of specialization (Upadhye, 2004).
• The Nobel Prize is the best known and prestigious scientific prize in the world.
• Its founder is Alfred Nobel.
• the Nobel Prizes in Physics, Chemistry, Physiology or Medicine and Literature are awarded in Stockholm, Sweden. So, option 4 is correct.
• The Nobel Peace Prize is awarded in Oslo, Norway.

The correct answer is Axis Bank.

In News

• This bank launches India’s first numberless credit card with no CVV, expiry date, or annual fee.

Key Points

• Fibe, India’s leading Fintech and Axis Bank, one of the largest private sector banks in India, partnered to launch India’s first-ever numberless credit card for tech-savvy Gen Zs.
• It aims to foster inclusivity and enhance accessibility for the diverse and growing consumer segment.
• With a numberless credit card, customers get an added level of security as there is no card number, expiry date, or CVV printed on the card plastic.
• This reduces the risk of identity theft or unauthorised access to customers' card details ensuring absolute security and privacy.
• The card is powered by RuPay, which allows the customer to link this credit card to UPI.
• The card is accepted across all offline stores in addition to all digital platforms.
• It also offers the tap-and-pay feature for added convenience.
• Axis Bank
• Establishment year - 1993
• HQ - Mumbai
• MD & CEO - Amitabh Chaudhry

Additional Information

• HDFC Bank
• Establishment year - 1994
• HQ - Mumbai
• MD & CEO - Sashidhar Jagdishan
• ICICI Bank
• Establishment year - 1994
• HQ - Mumbai
• MD & CEO - Sandeep Bakshi
• IndusInd Bank
• Founded in - 1994
• HQ - Pune
• MD & CEO - Sumant Kathpalia
• YES Bank 
• Founded in - 2004
• HQ - Mumbai
• CEO - Prashant Kumar

The correct answer is ​All of the above.

In News

• The Indian Express: PM formally launches Global Biofuels Alliance; 19 countries, 12 global bodies agree to join.

Key Points

The Global Biofuels Alliance (GBA):

• It was formally launched recently by Prime Minister Narendra Modi in the presence of leaders of a number of partner countries on the sidelines of the G20 Summit in New Delhi. Hence statement 3 is correct.
• The GBA has been in the works for some time now and is a key initiative and priority under India’s G20 presidency.
• The alliance is aimed at facilitating international cooperation and intensifying the use of sustainable biofuels, along with facilitating global biofuels trade and technical support for national biofuel programmes. Hence statement 1 is correct.
• The GBA, the effort for which was spearheaded by India, the United States, and Brazil, has been launched with nine initiating members–India, the US, Brazil, Argentina, Bangladesh, Italy, Mauritius, South Africa, and the United Arab Emirates–while Canada and Singapore are observer countries.
• In all, 19 countries and 12 international organizations have already agreed to join the GBA.
• Seven of the 19 countries are from the G20, four are among the G20 invitee countries, while eight are neither G20 members nor invitees.
• The World Bank, Asian Development Bank, World Economic Forum, International Energy Agency, International Energy Forum, International Renewable Energy Agency, and International Civil Aviation Organization are among the organizations that have agreed to join the alliance.
• Modi launched the GBA in the presence of leaders from the US, Brazil, the UAE, Singapore, Italy, Argentina, Bangladesh, and Mauritius.
• “GBA will support worldwide development and deployment of sustainable biofuels by offering capacity-building exercises across the value chain, technical support for national programs and promoting policy lessons-sharing.
• It will place emphasis on strengthening markets, facilitating global biofuels trade, developing concrete policy lesson-sharing, and providing technical support for national biofuels programs worldwide. Hence statement 2 is correct.
• It will facilitate mobilizing a virtual marketplace to assist industries, countries, ecosystem players and key stakeholders in mapping demand and supply, as well as connecting technology providers to end users.
• It will also facilitate development, adoption and implementation of internationally recognized standards, codes, sustainability principles and regulations to incentivize biofuels adoption and trade,” the government said in a release on Saturday.
• After initial hiccups, India has tasted success in its ethanol-petrol blending programme in the past few years.
• India achieved the target of 10 per cent ethanol blending in petrol in June last year, months ahead of the targetted timeline of November 2022.
• The success in the ethanol blending programme prompted the government to advance the deadline for pan-India E20–petrol with 20 per cent ethanol–rollout to 2025-26 from 2030.
• According to the government, the country is well on track to meet the revised E20 petrol timeline. India is also looking at blending diesel with suitable biofuels and natural gas with biogas.

The correct answer is Small Industries Development Bank of India.

In News

• Tata Power Solar and SIDBI collaborate to support MSME solar initiatives.

Key Points

• Tata Power Solar Systems Ltd has signed an MoU with the Small Industries Development Bank of India (SIDBI).
• The partnership aims to provide easier financing options to Micro, Small, and medium Enterprises who are keen on adopting solar energy solutions.
• Tata Power Solar offers solar energy solutions from installation to operational maintenance and has so far provided 11.5 GWp ground-mounted solar capacity, over 1.7 GWp rooftop-mounted solar capacity systems, and more than 1 lakh solar water pumps.
• The initiative has set up an online application process for MSMEs to avail the scheme benefits of the scheme.
• It facilitate the ‘ease of opting’ renewable energy in the MSME sector and powers its quest to become more efficient and globally competitive.”
• Small Industries Development Bank of India
• ​SIDBI is the Financial Institution engaged in the promotion, financing & development of MSMEs.
• Established on April 2, 1990.
• Chairman - Sivasubramanian Ramann

Additional Information

• HDFC Bank
• Establishment year - 1994
• HQ - Mumbai
• MD & CEO - Sashidhar Jagdishan
• Axis Bank
• Establishment year - 1993
• HQ - Mumbai
• MD & CEO - Amitabh Chaudhry
• ICICI Bank
• Establishment year - 1994
• HQ - Mumbai
• MD & CEO - Sandeep Bakshi
• SBI 
• Establishment year - 1955
• HQ - Mumbai
• Chairman - Dinesh Kumar Khara

The correct answer is option 2, i.e. **Offer for sale.**​

• The term capital market refers to facilities and institutional arrangements through which long-term funds, both debt and equity are raised and invested.
• The capital market consists of development banks, commercial banks, and stock exchanges.
• The Capital Market can be divided into two parts:
• Primary Market
• Secondary Market
• The primary market is also known as the new issues market.
• It deals with new securities being issued for the first time.
• The essential function of a primary market is to facilitate the transfer of investible funds from savers to entrepreneurs seeking to establish new

enterprises or to expand existing ones through the issue of securities for the first time.

• There are various methods of floating new issues in the primary market :
• | Private Placement | - Private placement is the allotment of securities by a company to institutional investors and some selected individuals. - It helps to raise capital more quickly than a public issue. - Access to the primary market can be expensive on account of various mandatory and nonmandatory expenses. - Some companies, therefore, cannot afford a public issue and choose to use private placement. | | --- | --- | | Offer through prospectus | - Offer through prospectus is the most popular method of raising funds by public companies in the primary market. - This involves inviting subscriptions from the public through the issue of prospectus. - A prospectus makes a direct appeal to investors to raise capital, through an advertisement in newspapers and magazines. - The issues may be underwritten and also are required to be listed on at least one stock exchange | | Offer for Sale | - Under this method, securities are not issued directly to the public but are offered for sale through intermediaries like issuing houses or stockbrokers. - In this case, a company sells securities enbloc at an agreed price to brokers who, in turn, resell them to the investing public. | | Rights Issue | - This is a privilege given to existing shareholders to subscribe to a new issue of shares according to the terms and conditions of the company. - The shareholders are offered the ‘right’ to buy new shares in proportion to the number of shares they already possess | | e-IPOs | - A company proposing to issue capital to the public through the on-line system of the stock exchange has to enter into an agreement with the stock exchange. This is called an Initial Public Offer (IPO). - SEBI registered brokers have to be appointed for the purpose of accepting applications and placing orders with the company. - The issuer company should also appoint a registrar to the issue having electronic connectivity with the exchange. |

The correct answer is Air India.

In News

• Air India acquired the first aircraft through IFSC.

Key Points

• Air India has achieved a significant milestone by acquiring India’s first Airbus A350-900 aircraft through its leasing unit based in Gujarat International Finance Tec-City (GIFT)-IFSC in Gandhinagar.
• The transaction was made possible through a finance lease provided by HSBC announced by Air India.
• It is the airline's first financing transaction from its record-setting orders for 470 aircraft.
• Air India is the country's first scheduled carrier to have acquired an aircraft from an entity registered in Gujarat International Finance Tec-City (GIFT City).
• Air India’s first A350-900 is also the first widebody aircraft to have been leased through India’s first International Financial Services Centre (IFSC).
• Air India
• ​Air India is the flag carrier of India.
• Headquartered in New Delhi.
• fully-ownedIt is a fully owned subsidiary of Tata Sons.

Additional Information

• IndiGo
• ​It is an Indian low-cost airline.
• Headquartered in Gurgaon, Haryana, India.
• It is the largest airline in India by passengers carried and fleet size, with a 63.4% domestic market share as of July 2023.
• Go First
• ​It was an Indian ultra-low-cost airline based in Mumbai, Maharashtra.
• It was owned by the Indian business conglomerate, Wadia Group.
• It commenced operations on 4 November 2005 and operated a fleet of Airbus A 320 aircraft in an all-economy configuration.
• Vistara
• ​It is an Indian full-service airline, based in Gurugram.
• The airline serves 34 destinations with a fleet of Airbus A320neo, Airbus A 321neo, and Boeing 787-9 aircraft.

The correct answer is DSP Pension Fund Managers.

In News

• PFRDA picks the 11^th fund manager for NPS.

Key Points

• The Pension Fund Regulatory and Development Authority (PFRDA) is in the process of appointing DSP Pension Fund Managers as the 11^th fund manager permitted to manage retirement savings under the National Pension System (NPS) and is looking to tap Regional Rural Banks (RRBs) to enhance its reach to citizens across the country.
• NPS is mandatory for central and state government employees who joined the service after 2004, who account for a bulk of the Rs 10.22 lakh crore assets under its watch.
• Currently, about 31 lakh people have joined the NPS on a voluntary basis, but that number is growing at about 25% a year.
• DSP Pension Fund Managers
• ​It was incorporated on 26 Nov 2012.
• It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai.

Additional Information

• Pension Fund Regulatory and Development Authority (PFRDA)
• Founded in - 2003
• HQ - New Delhi
• Chairperson - Deepak Mohanty

The Manipur-based indigenous "Longpi Hampai pottery" has started gaining prominence in the international markets owing to its intricate designs and technology used to produce them. The ancient art has originated from two Longpi villages in Manipur namely Longpi Khullen and Longpi Kajui near Ukhrul district. It is practised by Tangkhul community residing in the hill district of Manipur.

The Correct answer is  Retailer Centricity.

Key Points

Digital Payment Index (DPI):

• Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitization of payments across the country.
• The RBI-DPI comprises 5 broad parameters that enable the measurement of the deepening and penetration of digital payments in the country over different time periods.
• Payment Enablers (weight 25%)
• Payment Infrastructure – Demand-side factors (10%)
• Payment Infrastructure – Supply-side factors (15%)
• Payment Performance (45%)
• Consumer Centricity (5%)

​

Additional Information

Reserve Bank of India (RBI)

• The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act 1934.
• Since its Nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
• AIM: To regulate the issue of Banknotes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth.
• It is known as Banker's Bank.
• The concept of financial inclusion was first introduced in India in 2005 by the Reserve Bank of India.
• It has the power to provide and cancel the license to other commercials, and scheduled banks.
• Headquarters: Mumbai.
• Governor: Sanjay Malhotra

The correct answer is 'Ministry of Finance'

Key Points

• Finance and Corporate Affairs Minister Nirmala Sitharaman, on Wednesday, launched the fifth edition of Enhanced Access and Service Excellence-EASE 5.0, which spells out the common reforms agenda for public sector banks (PSBs) under the EASENext program.
• It will entail strategic initiatives beyond EASE 5.0. The initiatives will be across diverse themes business growth, profitability, risk, customer service, operations, and capability building. ​​
• The launch event was attended virtually by Managing Directors CEOs and other senior executives of PSBs.
• Under EASE 5.0, PSBs will continue to invest in new-age capabilities and deepen the ongoing reforms to respond to evolving customer needs, changing competition, and the technology environment. EASE 5.0 will focus on digital customer experience, and integrated and inclusive banking, with an emphasis on supporting small businesses and agriculture. Simultaneously,  all PSBs will also create a bank-specific three-year strategic roadmap.

The correct answer is HDFC Pension Management.

In News

• HDFC Pension Management Company launched a first-of-its-kind 'National Pension System (NPS) Preference Index.

Key Points

• HDFC Pension Management Company has launched a first-of-its-kind National Pension System Preference Index on the occasion of the 2^nd edition of NPS Diwas which was observed on 1^st October 2023.
• HDFC Pension also released the NPS Preference Index Study which is the industry's first Spotlight on NPS.
• HDFC Pension commissioned an independent market research specialist, Ipsos for conducting the survey for the NPS Preference Index.
• NPS Preference Index improves with increasing income level of the consumers. North region has the highest NPS preference index (57) compared to other regions.
• HDFC Pension Management
• ​It is a subsidiary of HDFC Life Insurance Company Ltd.
• It is one of the Pension Fund Managers appointed by the Pension Fund Regulatory and Development Authority in India to manage funds for the National Pension System.

Additional Information

• NPS Preference Index 2023
• It is also a kind of index which can be tracked and links consumer behavior and their contribution towards NPS and the concept of retirement.
• The aim of the survey is to access consumers' views on retirement and their awareness, interest, and contemplation of the NPS. This resulted in the framing NPS Preference Index, which can be tracked over time.

The correct answer is Amul.

In News

• Amul Named Official Sponsor for India at Hangzhou Asian Games.

Key Points

• Amul is named as the official sponsor of the Indian Contingent for the 19^th Asian Games 2022 to be held in Hangzhou, China from September 23 to October 8, 2023.
• Amul has partnered with Indian sportspersons through the Indian Olympic Association since the London 2012 Olympics for all Indian contingents to the Olympics, Commonwealth Games and Asian Games and we are pleased to further strengthen our decade-long relationship.
• The India contingent will field 634 athletes at the Asian Games 2022 in Hangzhou across 38 different sports with the largest contingent of 65 in athletics.
• Amul
• Founded in - 1946
• HQ - Gujarat
• MD - RS Sodhi

Additional Information

• OPPO
• ​Founded in - 2004
• HQ - China
• President - Alfa Wang
• MRF
• ​Founded in - 1946
• HQ - Chennai
• Chairman - K.M. Mammen
• ​Paytm
• ​Founded in - 2010
• HQ - Noida
• CEO - Vijay Shekhar Sharma
• ​PUMA
• ​Founded in - 1948
• HQ - Germany
• CEO - Arne Fruendt

The Finance Commission came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. It was formed to define the financial relations between the centre and the state. The Finance Commission Act of 1951 states the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission

The correct answer is Insurance Regulatory and Development Authority (I.R.D.A.).

Key Points

• Insurance Regulatory and Development Authority (I.R.D.A.) was established in the Year: 2000, as an Independent Authority, to Regulate and Develop the Insurance Industry. 
• It is a statutory body formed under an Act of Parliament, i.e., the Insurance Regulatory and Development Authority Act, 1999 (IRDA Act, 1999) for overall supervision and development of the Insurance sector in India.
• The key objectives of the IRDAI include-
• protecting the interest of policyholders
• speedy and orderly growth of the insurance industry
• speedy settlement of genuine claims
• effective grievance redressal mechanism
• promoting fairness, transparency, and orderly conduct in financial markets dealing with insurance, and prudential regulation while ensuring the financial security of the Insurance market.

Additional Information

• The Reserve Bank of India (R.B.I.) is India's central bank that is under the ownership of the Ministry of Finance, Government of India, and is responsible for the regulation of the Indian banking system.
• The Securities and Exchange Board of India (S.E.B.I.) is a regulatory body under the ownership of the Ministry of Finance, Government of India, responsible for the securities and commodity market in India.
• The Association of Mutual Funds in India (A.M.F.I.) is responsible for developing the Indian Mutual Fund Industry on professional, healthy, and ethical lines.
• The Pension Fund Regulatory and Development Authority (P.F.R.D.A.) is the regulatory body under the ownership of the Ministry of Finance, Government of India, responsible for the overall supervision and regulation of pensions in India.

The correct answer is Zerodha, Groww.

Key Points

The correct answer is Indian Bank.

In News

• Indian Bank partners with OneCard to launch mobile-first, premium credit cards.

Key Points

• Indian Bank, a public sector bank in India, has announced its partnership with OneCard to introduce state-of-the-art, mobile-first, contactless, metal co-branded credit cards.
• This partnership will empower users with full digital control over their credit card interactions — from real-time transaction tracking, spending management, EMI conversion, reward redemption, repayments, and monthly budget planning to credit limit adjustments and seamless payments, all in-app, Indian Bank.
• Backed by an intuitive mobile app, this partnership will empower users with complete digital control over their credit card interactions — ranging from real-time transaction tracking, spending management, EMI conversion, reward redemption, repayments, monthly budget planning to credit limit adjustments, and seamless payments, all in-app.
• The card follows the principles of simplicity, transparency, and giving consumers back power by enabling cardholders to monitor/track all of their credit card interactions via the feature-rich app.
• Indian Bank
• Founded in - 1907
• HQ - Madras
• MD & CEO - Shanti Lal Jain

Additional Information

• Bank of Baroda
• Establishment year - 1908
• HQ - Vadodara
• MD & CEO - Debadutta Chand
• Punjab National Bank
• Establishment year - 1894
• HQ - New Delhi
• MD & CEO - Atul Kumar Goel
• Canara Bank 
• Establishment year - 1906
• HQ - Karnataka
• MD & CEO - K. Satyanarayana Raju
• Bank of India
• Founded in - 1906
• HQ - Mumbai
• CEO - Rajneesh Karnatak

The correct answer is Microsoft.

In News

• Meta partners with Microsoft for its latest AI model Llama-2

Key Points

• Meta has announced the release of the commercial version of its open-source AI model Llama.
• The AI model and its new version of Llama 2 will be distributed by Microsoft through its Azure cloud service and will run on the Windows operating system.
• Llama can turn out to be a great alternative for pricy proprietary models sold by OpenAI like ChatGPT and Google Bard.
• The broad availability and free accessibility of the advanced Llama model pose a significant challenge to the existing dominance in the emerging market for generative AI software.
• Moreover, the new version of Llama has undergone training on 40% more data than its predecessor, incorporating over 1 million human annotations to enhance the quality of its outputs, as stated by Zuckerberg.

The correct answer is 12%.

 In News

• India achieves highest ever GST revenue collection of over one lakh 87 thousand crore rupees in April 2023.

Key Points

• The gross Goods and Services Tax (GST) revenue collected in April this year is the highest ever at over one lakh 87 thousand crore rupees.
• Out of the total revenue, Central Goods and Services Tax (CGST) is 38 thousand 440 crore rupees, State Goods and Services tax (SGST) is 47 thousand 412 crore rupees, Integrated Goods and Services Tax (IGST) is 89 thousand 158 crore rupees, and cess is over 12 thousand crore rupees.
• The Finance Ministry reported that the revenues for the month of April this year are 12 per cent higher than the GST revenues in the same month last year.
• The increase in GST revenue collection could be attributed to the resumption of economic activities and higher compliance by taxpayers.
• The GST Council, in its recent meeting, decided to waive the late fee for delayed filing of GST returns for the period of August 2017 to April 2021, which could further boost the compliance rate and revenue collection.​

Additional Information

• GST:
• It is a value-added tax levied on most goods and services consumed in India.
• It was introduced on July 1, 2017, replacing multiple indirect taxes, such as excise duty, service tax, and value-added tax, among others.
• GST is governed by the GST Council, which is chaired by the Union Finance Minister and includes the finance ministers of all the states and union territories of India.
• There are four types of GST rates: 5%, 12%, 18%, and 28%, depending on the type of goods or services being taxed.

Some goods and services are exempt from GST, while others are taxed at a special rate.

• GST is a destination-based tax, which means that the tax revenue is collected by the state where the goods or services are consumed, rather than where they are produced.

The correct answer is All of the Above.

Key Points

• PMFBY (Pradhan Mantri Fasal Bima Yojana)
• Insurance for Farmers: It offers insurance against crop failure.
• Affordable Premiums: Farmers pay a very low premium for coverage.
• Risk Mitigation: Aims to lessen the financial burden due to adverse weather or crop loss.
• PM-KISAN (Pradhan Mantri Kisan Samman Nidhi)
• Income Support Scheme: Direct cash transfer to farmers' bank accounts.
• Fixed Amount: Eligible farmers receive ₹6,000 annually in three equal installments.
• Aid for Small Farmers: Specifically targets small and marginal farmers.
• NFSM (National Food Security Mission)
• Increase Food Production: Aims to enhance the production of rice, wheat, pulses, and coarse cereals.
• Improve Crop Yields: Focuses on high-yield agricultural practices and technology.
• Address Food Security: Targets food security and self-sufficiency in staple foods.
• APY (Atal Pension Yojana)
• Pension Scheme: Provides a fixed pension for the unorganized sector workers.
• Government Contribution: Government co-contributes to the subscriber's pension fund.
• Guaranteed Pension: Offers a guaranteed pension of ₹1,000 to ₹5,000 per month after the age of 60.

The correct answer is Iron Dome

Key Points

• Iron Dome is a short-range, ground-to-air, air defense system.
• It is used for countering rockets, artillery & mortars (C-RAM) as well as aircraft, helicopters, and unmanned aerial vehicles.​
• It has been developed jointly by the Rafael Advanced Defense Systems and Israel Aerospace Industries.
• The Iron Dome was deployed and became operational in 2011 in Israel.
• The Iron Dome has three main systems that work together to provide a shield over the area where it is deployed, handling multiple threats.
• It has detection and tracking radar to spot any incoming threats.
• A battle management and weapon control system (BMC).
• A missile firing unit.

Additional Information 

• In the recent conflict between Israel and Palestine, Iron Dome is being used by Isreal to counter the incoming rockets.
• These rockets are being fired by Hamas which is a Palestinian militant group that rules Gaza.
• Iron Dome has defended the Israeli Airspace from a barrage of rockets propelled by Hamas and Palestinian security forces.