Q1. What does “EASE” stand for in the report on the EASE Reforms Index for Q3 FY 2022-23, where Union Bank of India secured the 1st rank for the first time, as published by the Indian Banks’ Association (IBA)?
(a) Enhanced Access & Service Excellence
(b) Efficient Administration & System Efficiency
(c) Effective Audit & Security Enforcement
(d) Economic Advancement & Social Empowerment
(e) Enhanced Administration & Security Empowerment
Q2. According to the “National Multidimensional Poverty Index-2022” published by NITI Aayog, which state exhibits the fastest reduction in multidimensional poverty levels?
(b) Madhya Pradesh
(c) Uttar Pradesh
Q3. Which Indian city has become the inaugural member of the World Cities Culture Forum (WCCF)?
Q4. The Government of India and the Asian Development Bank (ADB) have recently entered into an agreement for a $295 million loan, aimed at upgrading roughly 265 kilometers of state highways. In which Indian state is this project set to take place?
(b) Madhya Pradesh
(c) Uttar Pradesh
Q5. Which organization released the 2023 Global Education Monitoring Report titled “Technology in Education: A Tool on Whose Terms”?
(a) United Nation
Q6. India’s first Construction Innovation Hub is in which of the following city of Kerala ?
Q7. Mangala Narlikar, who recently passed away, was associated with which field?
Q8. What is inflation in the context of the Indian economy?
(a) Increase in the purchasing power of money
(b) Decrease in the overall price level
(c) Rise in the general price level of goods and services
(d) Expansion of the money supply
(e) Reduction in the cost of living
Q9. What is a mutual fund?
(a) A loan provided by banks to individuals for investment purposes.
(b) A type of savings account with higher interest rates.
(c) A financial product that pools money from multiple investors to invest in diversified assets.
(d) A government-backed investment scheme for retirement planning.
(e) A form of insurance for protection against market fluctuations.
Q10. World Economic Outlook is released by which organizations?
(a) International Monetary Fund (IMF)
(b) World Bank
(c) United Nations (UN)
(d) World Trade Organization (WTO)
(e) World Economic Forum (WEF)
Sol. EASE stands for Enhanced Access & Service Excellence, which is an initiative by the Department of Financial Services (DFS) as part of the PSB Reforms Agenda.
- Union Bank of India, for the first time, secured 1st rank as per the report on EASE Reforms
About Union Bank of India:
- Union Bank of India is an Indian public sector bank headquartered in Mumbai. After the merging with Corporation Bank and Andhra Bank, which came into effect on 1 April 2020
Union Bank of India static:
- Founded: 11 November 1919
- Headquarters: Mumbai, Maharashtra
- MD & CEO: Manimekhalai
S2. Ans. (c)
Sol. It highlighted that Uttar Pradesh, Bihar, Madhya Pradesh, Odisha, and Rajasthan witnessed the fastest reduction in multidimensional poverty among all states.
- The report attributed this progress to various government schemes and initiatives such as the National Nutrition Mission, Ayushman Bharat, Swachh Bharat Mission, Ujjwala Yojana, Saubhagya Yojana, and others.
S3. Ans. (a)
Sol. Bengaluru becomes the first Indian city to join the World Cities Culture Forum (WCCF).
- Karnataka capital Bengaluru has achieved a significant milestone by becoming the first Indian city to join the prestigious World Cities Culture Forum (WCCF).
- The World Cities Culture Forum (WCCF) is a global network of cities that collaboratively research and share intelligence to explore the important role of culture in shaping future prosperity.
- Bengaluru is the 41st city to join WCCF, which already includes 40 cities across six continents such as New York, London, Paris, Tokyo and Dubai.
S4. Ans. (a)
Sol. The Indian government and the Asian Development Bank (ADB) on signed an agreement for a USD 295-million loan for the upgradation of 265 km of state highways in Bihar.
Bihar Static Facts:
- Chief Minister: Nitish Kumar
- Governor: Rajendra Viswanath Arlekar
- Capital: Patna
- National Parks: Valmiki National Park
- Folk Dance: Jhijhia, Kajri
S5. Ans. (e)
Sol. UNESCO urges a global ban on smartphones in schools to promote a human-centered education approach.
- The United Nations Educational, Scientific and Cultural Organization (UNESCO) published its 2023 Global Education Monitoring Report titled “Technology in Education: A Tool on Whose Terms”, which supports a worldwide ban on smartphones in schools where technology integration Does not improve learning outcomes.
- UNESCO advocates a more “human-centred approach” to education and highlights the need to reduce reliance on digital technology.
S6. Ans. (c)
Sol. Kerala got the country’s first Construction Innovation Hub (CIH) in Kochi that seeks to promote affordable and sustainable building facilities so as to foster collaboration, innovation and knowledge-sharing among the stakeholders.
Kerala Static facts:
- Capital: Thiruvananthapuram
- Chief Minister: Pinarayi Vijayan
- Governor: Arif Mohammad Khan
- National Parks: Eravikulam National Park, Silent Valley National Park, Anamudi Shola National Park, Pampadum Shola National Park, Mathikettan Shola National Park
- Folk Dance: Kathakali, Mohiniyattam
S7. Ans. (c)
Sol. Mangala Narlikar was a Mathematician.
- She was the wife of Dr Jayant Narlikar, who is the founder and director of the Pune-based Inter-z Centre for Astronomy and Astrophysics (IUCAA).
- She initially worked at the Tata Institute of Fundamental Research (TIFR) in Mumbai before joining as a lecturer at Bombay and Pune universities.
- Her core fields of interest were real and complex analysis, analytic geometry, and topology.
S8. Ans. (c)
Sol. inflation refers to the persistent and sustained increase in the general price level of goods and services over a period of time. It is measured as the percentage change in the Consumer Price Index (CPI) or Wholesale Price Index (WPI) on an annual basis.
S9. Ans. (c)
Sol. A mutual fund is a financial product that pools money from multiple investors and invests it in a diversified portfolio of securities such as stocks, bonds, money market instruments, and other assets.
- Professional fund managers look to produce returns for the investors when managing the money. Investors in a mutual fund own unit of the fund, and the value of these units changes based on the performance of the underlying assets.
S10. Ans. (a)
Sol. The World Economic Outlook is released by the International Monetary Fund (IMF)
- It is a biannual report that provides an assessment of the global economic situation and outlook. The report includes economic growth projections, inflation forecasts, balance of payments data, and analysis of key economic developments in various regions of the world.
- The World Economic Outlook is an essential resource for policymakers, economists, and investors to understand the current state and potential risks in the global economy.