Economics and Banking Quizzes - Current Affair MCQs

Ans: B - Axis Bank

• Citibank's retail business in India has now been merged with Axis Bank.
• All the customers associated with this will now be able to use the facilities of Axis Bank.
• Citibank's retail business in India includes credit cards, home and personal loans, retail banking and insurance distribution.

• The agreement between Axis and Citi was signed in March last year.

Ans: B – Guyana

• India and Guyana have agreed to cooperate in the oil and gas sector, including long-term crude purchases from the South American country and investment in its upstream sector.

• India is the third largest consumer and importer of oil worldwide and about 85 percent of its oil demand is met through imports from abroad, including about 10 percent from the Latin America and the Caribbean region (LAC).

Ans: B – Ajay Banga

• US President Joe Biden has nominated Indian-American Ajay Banga, former chief executive officer of Mastercard, to lead the World Bank.
• Its current head, David Malpass, has announced plans to step down soon.

• The President of the World Bank is usually American, while the leader of the International Monetary Fund is traditionally European.

Ans: B – Karnataka Bank

• Karnataka Bank and Paisalo Digital Limited, a non-deposit taking NBFC registered with Reserve Bank of India entered into a co-lending arrangement to provide financial support to the small income segment and give impetus to the micro and small enterprise segment of the country.

• Bank's CEO Mahabaleshwar MS pointed out that the co-lending model is one of the innovative ways of priority sector lending.

Ans: D – Wheat

• The Indian Council of Agricultural Research (ICAR) has developed a new variety of wheat called HD-3385.
• This new variety can face the challenges of climate change and rising heat.
• This new variety is suitable for early sowing.

• It can survive the wrath of heat and its crop can be harvested before the end of March.

Ans: C – Agri Chatbot

• Odisha Governor Professor Ganeshi Lal has launched India's first agri chatbot for agriculture sector 'Ama Krushai' at the concluding session of 'Krishi Odisha 2023'.

• These Tubots will help farmers with best farming practices, inform them about government schemes and loan products from over 40 commercial and cooperative banks.

Ans: C – Singapore

• India and Singapore have launched a joint digital payment system.
• This system will facilitate the citizens of both the countries to do cross border transactions at a faster and easier pace.

• India's Unified Payments Interface - UPI and Singapore's Pay Now have entered into an agreement to facilitate these transactions.

Ans: D – Qatar

• Qatar has lifted the temporary ban on import of frozen seafood from India.
• The ban was imposed by Qatar after Vibrio cholerae was allegedly detected in some consignments from India in November 2022, just before the FIFA World Cup.

• However, the ban on export of chilled seafood has been continued.