Search Previous Year Questions

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.