Current Affairs Quiz: August 2 2018

AffairsCloud brings you the complete and important daily Current Affairs August 2 2018 Quiz to achieve more marks in Banking , Insurance, UPSC, SSC, CLAT , Railways  and all other competitive Exams. We have prepared the current affairs quiz from our current affairs today updates.

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  1. Name the scheme that Union Cabinet has approved the first extension to support Indian Entities bidding for strategically important infrastructure projects abroad.
    1. Pooled Finance Development Fund Scheme
    2. National Pension Scheme
    3. Concessional Financing Scheme
    4. National Rural Livelihood Mission
    5. None of the above
    Answer & Explanation
    Answer – 3. Concessional Financing Scheme
    Explanation:
    On August 2, 2018, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the first extension of Concessional Financing Scheme (CFS) to support Indian Entities bidding for strategically important infrastructure projects abroad.The total outlay for this scheme is Rs.625.63 crore .
  2. Which state has released its final draft of National Registry of Citizens and 40 lakh declared ‘illegal citizens’ of India?
    1. Meghalaya
    2. Arunachal Pradesh
    3. Nagaland
    4. Assam
    5. None of the above
    Answer & Explanation
    Answer – 4. Assam
    Explanation:
    Assam government released its final draft of National Registry of Citizens of Assam.
    According to the release, Out of 3,29,91,384 (3.29 crore) total applicants, 2,89,83,677 (2.9 crore) people have been found eligible to be included in the National Register of Citizens.
  3. What is the name of new scheme launched by Ministry of Culture in India and total outlay of the scheme is Rs. 325.00 Crores for financial years 2018-19 and 2019-20?
    1.Sukanya Samridhi Yojana
    2.Seva Bhoj Yojna
    3.Rashtriya Swasthya Bima Yojna
    4.Pradhan Manthri Mudra Yojna
    5.None of the above
    Answer & Explanation
    Answer – 2.Seva Bhoj Yojna
    Explanation:
    On August 2, 2018, the Ministry of Culture, Government of India launched the new scheme Seva Bhoj Yojna.Total outlay of the scheme is Rs. 325.00 Crores for financial years 2018-19 and 2019-20.To reimburse the CGST and IGST to Religious / Charitable Institutions who provide Food free of cost without any discrimination to Public/Devotees.
  4. Who has launched Logo, tagline for Geographical Indications (GI) by Commerce and Industry?
    1.Minister of Statistics and Programme Implementation
    2.Minister of Science and Technology
    3.Minister of External affairs
    4.Minister of Information and broadcasting
    5Minister of Commerce and Industry
    Answer & Explanation
    Answer – 5.Minister of Commerce and Industry
    Explanation:
    On August 2, 2018, the Commerce and Industry Minister Suresh Prabhu launched a logo and tagline for Geographical Indications (GI) to create awareness about Intellectual Property Rights (IPRs)
  5. How much has sanctioned by NABARD for 8 water projects in Haryana?
    1. Rs 928 crore
    2. Rs 722 crore
    3. Rs.469 crore
    4. Rs. 655 crore
    5. None of the above
    Answer & Explanation
    Answer – 2. Rs 722 crore
    Explanation:
    On August 2, 2018, NABARD sanctioned Rs 722 crore for eight water projects in the rural areas of Haryana.These projects will supply water to 256 villages and 72 hamlets.Additionally, the state government has sent three more project proposals, costing Rs 236.85 crore.
  6. Find the name of award which will be honored to all sportspersons and coaches who won a position or medal in Olympics as per the new policy implemented by Union Minister of Railways for promotion of Railway Sportspersons.
    1. Rajiv Gandhi Khel Ratna‎
    2. Ekalavya Award
    3. Padma Vibhushan
    4. Padma Shri
    5. Padma Bhushan
    Answer & Explanation
    Answer – 4. Padma Shri
    Explanation:
    Union Minister of Railways, Coal, Finance & Corporate Affairs, Piyush Goyal has approved a new policy for promotion of Railway Sportspersons.As per this new policy, in addition to the sportspersons who won a position or medal in Olympics, all the sportspersons and coaches who have been awarded with Padma Shri will also be promoted as officers. Sportspersons, who have made two appearances in Olympics, won a medal in Asian Games or Common Wealth Games, will be promoted as officers.
  7. Which country based SBM Group became the first foreign lender has received Reserve Bank of India’s approval to operate in the country as SBM Bank (India)?
    1. Maldives
    2. Bahamas
    3. Seychelles
    4. Namibia
    5. Mauritius
    Answer & Explanation
    Answer – 5. Mauritius
    Explanation:
    On August 2, 2018, RBI has given approval to State Bank of Mauritius to operate in the country through a wholly-owned subsidiary route under the name SBM Bank(India) .
    It is the first such bank to get such approval
  8. Indian Bank revises interest rates on Foreign Currency Non-Resident (Banking) deposits from to 3.89 % to __________ for 3 years and above but less than 4 years.
    1. 3.97 %
    2. 3.93 %
    3. 3.95 %
    4. 3.91 %
    5. 3.94 %
    Answer & Explanation
    Answer – 1. 3.97 %
    Explanation:
    On 1st August 2018, Indian Bank has revised interest rates on Foreign Currency Non-Resident (Banking) – FCNR(B)deposits with immediate effect.
    Indian Bank revises interest rates on FCNR(B) deposits:
    Deposit periodRevised Interest RatePrevious Interest Rate
    1 year and above but less than 2 years (in US Dollar terms)3.68 %3.59 %
    2 years and above, but less than 3 years3.88 %3.77 %
    3 years and above but less than 4 years3.97 %3.89 %
    4 years and above but less than 5 years3.99 %3.92 %
    up to 5 years4 %3.93 %
  9. Which of the below payment bank has barred by Reserve Bank of India (RBI) from adding new customers after it observed anomalies regarding deposits in the existing accounts?
    1. Cholamandalam Distribution Services
    2. Sun Pharmaceuticals
    3. Aditya Birla Nuvo
    4. Fino Payments Bank
    5. None of above
    Answer & Explanation
    Answer – 4. Fino Payments Bank
    Explanation:
    Reserve Bank of India (RBI) has barred Fino Payments Bank from adding new customers after it observed anomalies regarding deposits in the existing accounts.Fino Payments Bank has been
  10. Name the Bank which surpasses YES Bank market capitalization and becomes 7th most valued bank.
    1. Bandhan Bank
    2. Dena Bank
    3. Allahabad Bank
    4. IDFC Bank
    5. Kotak Mahindra Bank
    Answer & Explanation
    Answer – 1. Bandhan Bank
    Explanation:
    On 1st August 2018, Bandhan Bank surpassed YES Bank’s market capitalisation (m-cap) and became the sixth most valuable private sector bank and seventh most valued listed lender.
    Bandhan Bank with a market capitalisation (m-cap) of Rs 840 billion surpassed YES Bank with m-cap of Rs 838 billion.
  11. How much percent that India’s gross domestic product (GDP) to grow in this financial year 2018 – 2019?
    1. 7.1
    2. 7.2
    3. 7.3
    4. 7.4
    5. 7.5
    Answer & Explanation
    Answer – 5. 7.5
    Explanation:
    Morgan Stanley has predicted, India’s gross domestic product (GDP) to grow by 7.5 % in this financial year 2018 – 2019. Morgan Stanley said that, India’s GDP is expected to grow by 7.5 % in this financial year 2018-19 as against 6.7 % in 2017-18.
  12. Which agency of the Government of India made an agreement with SBI to receive an unsecured loan of Rs 25,000 crore from State Bank of India (SBI) for 10 years with 3 years of moratorium on repayments?
    1. Indian Oil Corporation
    2. National Thermal Power Corporation Limited
    3. National Buildings Construction Corporation Ltd
    4. National Highways Authority of India
    5. National Hydroelectric Power Corporation
    Answer & Explanation
    Answer – 4. National Highways Authority of India
    Explanation:
    National Highways Authority of India (NHAI) is getting an unsecured loan of Rs 25,000 crore from State Bank of India (SBI) for 10 years with 3 years of moratorium on repayments.
    This is the largest amount of loan that has been sanctioned to NHAI in one shot. Also, this is the largest long term unsecured loan sanctioned by SBI at a time to any entity.
  13. Which Indian company has topped in the Indian Private sector in the Fortune’s 500 list 2018?
    1. Reliance Industries
    2. Hindustan Petroleum
    3. Bharat Petroleum Corporation Limited
    4. Tata Consultancy Services
    5. Coal India
    Answer & Explanation
    Answer – 1. Reliance Industries
    Explanation:
    On August 2, 2018, 7 Indian companies have been listed in Fortune’s 500 list 2018 of world biggest corporations. RIL is the top private sector company in India. It ranked 148th in 2018 from 203rd from 2017. IOC is the highest ranked company from India followed by RIL which jumped 55 places.
  14. Name the Indian origin mathematician wins prestigious Fields Medal.
    1. Manjul Bhargava
    2. Akshay Venkatesh
    3. Kannan Soundarajan
    4. Srinivasa Reddy
    5. None of above
    Answer & Explanation
    Answer – 2. Akshay Venkatesh
    Explanation:
    On 1st August 2018, Akshay Venkatesh, an Indian-Australian mathematician, was awarded the Fields medal at the International Congress of Mathematicians in Rio de Janeiro, Brazil. Akshay Venkatesh is one of the 4 winners of the Fields medal. Fields medal is also known as the Nobel prize for mathematics.
  15. On 1st August 2018, President Ram Nath Kovind, presented the Outstanding Parliamentarian Award for the years 2013-2017, in New Delhi.Who was the winner of the year 2014?
    1. Bhartruhari Mahtab
    2. Dr Najma Heptullah
    3. Dinesh Trivedi
    4. Ghulam Nabi Azad
    5. Hukum Dev Narayan
    Answer & Explanation
    Answer – 5. Hukum Dev Narayan
    Explanation:
    The Outstanding Parliamentarian Award was presented to the Best Parliamentarians from 2013 to 2017 for their remarkable contributions. Winners of the award are listed below:
    Award WinnerFor the Year
    Dr Najma Heptullah2013
    Hukum Dev Narayan2014
    Ghulam Nabi Azad2015
    Dinesh Trivedi2016
    Bhartruhari Mahtab2017
  16. Deepak Parekh re-appointed as Non-Executive Director on the board of __________.
    1. Axis Bank
    2. ICICI Bank
    3. HDFC
    4. Indian Bank
    5. City Bank
    Answer & Explanation
    Answer – 3. HDFC
    Explanation:
    On 30th July 2018, Deepak Parekh was re-appointed as a Non-Executive Director on the board of HDFC. Also, J.J. Irani and Keki Mistry were reappointment as directors to HDFC’s board.
  17. Oscar Kerketta appointed the next High Commissioner of India to the Republic of ___________
    1.Uganda
    2.Burundi
    3.Zambia
    4.Rwanda
    5. Tanzania
    Answer & Explanation
    Answer – 4.Rwanda
    Explanation:
    On 1st August 2018, Oscar Kerketta was appointed the next High Commissioner of India to the Republic of Rwanda.At present, Oscar Kerketta is Additional Secretary in the Foreign Service Institute (FSI).
  18. Which entity launches Mission Solar Charkha for implementation of 50 Solar Charkha Clusters across India ?
    1. Ministry of Micro, Small and Medium Enterprises (MSME)
    2. Khadi and Village Industries Commission
    3. Ministry of Skill Development and Entrepreneurship
    4. Ministry of New and Renewable Energy (MNRE)
    5. None of the above
    Answer & Explanation
    Answer – 1. Ministry of Micro, Small and Medium Enterprises (MSME)
    Explanation:
    The Ministry of Micro, Small and Medium Enterprises (MSME) has launched Mission Solar Charkha for implementation of50 Solar Charkha Clusters throughout India. The budget for this mission is: Rs 550 crore for 2018-19 and 2019-20. The Solar Charkha Units have been classified as village industries.
  19. ____________is celebrated as Nature Conservation Day.
    1. July 23rd
    2. July 25th
    3. July 26th
    4. July 28th
    5. July 21st
    Answer & Explanation
    Answer – 4. July 28th
    Explanation:
    Every Year July 28th is celebrated as Nature Conservation Day. It is observed to create awareness about the exploitation and to protect natural resources.

STATIC GK based on Current Affairs

  1. Where is Chidambaram Stadium located?
    Answer
    Chennai, Tamil Nadu
  2. Who is the MD & CEO of Fino payment bank?
    Answer
    Rishi Gupta
  3. Who is the chairman of National Highways Authority of India?
    Answer
    Chairman – Yudhvir Singh Malik ; Headquarters – New Delhi
  4. Where is the Headquarters of HDFC bank located?
    Answer
    Mumbai ; MD – Aditya Puri
  5. What is the currency of Rwanda?
    Answer
    Rwandan franc ; Capital – Kigali