Current Affairs May 2021 MCQs

1. In April 2021, RBI increased the account balance limit of Payment banks from ₹ 1 lakh to ₹ 2 lakh. Which was the 1st payment bank to implement the policy?

1) Paytm Payments Bank

2) Fino Payments Bank

3) India Post Payments Bank

4) Airtel Payments Bank

5) Jio Payments Bank

Answer- 4) Airtel Payments Bank

Explanation:

As per RBI guidelines, Airtel Payments Bank has increased the day-end account balance limit for customers from ₹ 1 lakh to ₹ 2 lakh and become the first payments bank in the country to do so.

2. In which online International Finance Corporation (IFC) is planning to invest USD 40 million as of April 2021?

1) BYJU's

2) upGrad

3) Coursera

4) Udemy

5) Unacademy

Answer- 2) Upgrad

Explanation:

International Finance Corporation (IFC) a member of the World Bank Group, plans to invest USD 40 million (about Rs 290 crore) in upGrad, an online up-skilling platform and IFC has proposed to loan up to $150 million to Bajaj Finance Ltd.

3.Two schemes: SHWAS & AROG were launched to provide loans to MSMEs during COVID-19 pandemic.

What are the points that are correctly related to the Schemes?

A) IDBI Bank launched the SHWAS & AROG schemes

B) Loans upto Rs. 2 crores can be availed within 48 hours through the schemes

C) Only MSMEs which are involved in manufacturing of essential medical products for COVID-19 can avail the benefits

1) Only A & C

2) All A, B & C

3) Only B & C

4) Only B

5) Only A & B

Answer- 3) Only B & C

Explanation:

In order to manage the national emergency and distress caused by COVID-19, the Small Industries Development Bank of India (SIDBI) has launched SHWAS & AROG, two new quick credit delivery schemes to help Micro, Small and Medium Enterprises (MSMEs).

i.SHWAS will fund MSMEs who are engaged in manufacturing of oxygen cylinders, oxy-generators etc.

ii.AROG fund for MSMEs engaged in manufacturing of Pulse Oximeters, Permitted COVID-19 drugs, Ventilators, and PPEs

iii.Both the schemes will provide the MSME units with 100% funding up to an amount of ₹2 crores at an attractive interest rate of 4.5-6 %, within 48 hours

4.With which financial service provider, the cryptocurrency exchange ‘Gemini’ partnered to provide the 1st of its kind Cryptocurrency Rewards Credit Card?

1) PayPal

2) Maestro

3) Visa

4) Mastercard

5) American Express

Answer- 4) Mastercard

Explanation:

Mastercard in partnership with Cryptocurrency exchange, Gemini & WebBank, a leader in digital lending and the bank issuing the credit card to launch a 1st of its kind, Cryptocurrency rewards credit card.

About Mastercard:

Executive Chairman: Ajay Banga

CEO: Michael Miebach

Headquarters: New York, USA

5.In May2021, __________ mandated all key employees of Asset Management Companies to contribute ___________ of their salary in Mutual Funds Schemes.

1) RBI, 10%

2) SEBI, 20%

3) RBI, 15%

4) SEBI, 10%

5) RBI, 20%

Answer- 2) SEBI, 20%

Explanation:

In order to bring transparency in the acts of Asset Management Companies (AMC) Key employees, the Securities and Exchange Board of India (SEBI) has mandated Key employees of AMCs to pay 20% of their salary (including perks, bonus, non-cash compensation net of income tax and statutory contributions like Employees Provident Fund) in units of mutual fund schemes in which they have a role/oversight.

6.Which bank launched the “Immune India Deposit Scheme” that provides an additional interest rate of 25 basis points to vaccinated people?

1) Canara Bank

2) Union Bank of India

3) Central Bank of India

4) Punjab National Bank

5) Bank Of India

Answer- 3) Central Bank of India

Explanation:

Central Bank of India launched the “Immune India Deposit Scheme” a special deposit scheme to provide an additional interest rate of 25 basis points in addition to the applicable card rate for the vaccinated people.

7.Which bank recently (in May’21) acquired Rs.10 Crore worth stake in India INX & India ICC in GIFT City?

1) DCB Bank

2) HDFC Bank

3) ICICI Bank

4) DBS Bank

5) RBL Bank

Answer- 1) DCB Bank

Explanation:

DCB Bank has acquired Rs.10 Crore worth stake in India International Exchange Ltd (India INX), India International Clearing Corporation Ltd (India ICC) leading companies in GIFT City (Gujarat International Finance Tec-City), International Financial Services Centre (IFSC).

8.Which organisation (in May’21) imposed a Total fine of Rs 1.75 crore on several companies for fraudulent trading in the scrip of Vakrangee Ltd?

1) National Company Law Tribunal

2) Central Board of Direct Tax

3) Reserve Bank of India

4) Central Board of Indirect Tax

5) Securities Exchange Board of India

Answer- 5) Securities Exchange Board of India

Explanation:

A total fine of Rs 1.75 crore was imposed by Markets regulator SEBI on several entities for indulging in fraudulent trading in the scrip of Vakrangee Ltd. The entities have violated Prohibition of Fraudulent and Unfair Trade Practices norms.

9. In May 2021, Motilal Oswal Private Equity (MOPE) acquired minority shares worth $25 million in which Small Finance Bank (SFB)?

1) Utkarsh SFB

2) Capital SFB

3) Jana SFB

4) Fincare SFB

5) AU SFB

Answer- 4) Fincare SFB

Explanation:

On May 03, 2021, Motilal Oswal Private Equity (MOPE) acquired a minority stake in Fincare Small Finance Bank (Fincare SFB) for $25 million (about ₹185 crores) through a secondary acquisition.

About Fincare SFB:

Establishment – 2017

Headquarters– Bengaluru, Karnataka

MD & CEO– Rajeev Yadav

10.What is India’s GDP forecast for FY22 as per the projection of Goldman Sachs as of May 2021?

1) 11.1%

2) 12.3%

3) 9.09%

4) 10.1%

5) 12.7%

Answer- 1) 11.1%

Explanation:

Goldman Sachs, brokerage reduced India’s GDP forecast for FY22 to 11.1% from 11.7% due to the local restrictions and increasing COVID-19 cases.

RBI has projected FY22 GDP growth at 10.5%, while IMF puts it at 12.5%.

11.What does the acronym ‘ECI’ of RBI stand for?

1) External Commercial Service

2) Exchange Currencies & Securities

3) Electronic Credit Statistics

4) External Credit Service

5) Electronic Clearing Scheme

Answer- 5) Electronic Clearing Scheme

Explanation:

Electronic Clearing Scheme or ECS was launched by the RBI for facilitating bulk transfer of funds from one bank account to another bank account.

12.What is RBI’s revised maximum Overdraft duration on Quarterly basis for State Government’s, as of May 2021?

1) 21 days

2) 14 days

3) 50 days

4) 36 days

5) 45 days

Answer- 3) 50 days

Explanation:

To support State Governments to manage their fiscal situation, RBI has increased the maximum number of days of the OverDraft (OD) facility in a quarter from 36 to 50 days and the number of consecutive days of OD from 14 to 21 days.

13.Globally, LIC is the ______ most Valuable Insurance Brand & ______ Strongest brand as per the “Insurance 100 2021” report.

1) 10th, 3rd

2) 2nd, 5th

3) 8th, 2nd

4) 12th, 3rd

5) 10th, 5th

Answer- 1) 10th, 3rd

Explanation:

Brand Finance, a London-based brand valuation consultancy firm in its annual report on the most valuable and strongest insurance brands – “Insurance 100 2021”, reported the Life Insurance Corporation (LIC) as the 3rd strongest and the 10th most valuable insurance brand globally.

14.IRDAI issued guidelines for Standard Domestic Travel Insurance Product (SDTIP) in India with health coverage upto _______ on hospitalization and upto _______ in case of death of the insured. 1) Rs 10 lakh, Rs 2 crore 2) Rs 1 lakh, Rs 1 crore 3) Rs 5 lakh, Rs 1 crore 4) Rs 5 Lakh, Rs 2 crore 5) Rs 10 lakh, Rs 1 crore Answer- 5) Rs 10 lakh, Rs 1 crore

Explanation:

IRDAI issued guidelines on Bharat Yatra Suraksha, the Standard Domestic Travel Insurance Product (SDTIP) of india. The standard product consists of 5-different plans under the standard travel insurance product.

i.Plan Covers travel through Cab/Bus, Train, Air & Ship with various health coverages.

ii.The coverage provides indemnity-based payment for hospitalization expenses ranging from Rs1 lakh to Rs10 lakh and an accidental death benefit ranging from Rs1 lakh to Rs1 crore.

15. In May 2021, _____________ provided financial assistance worth Rs. 9,162 crores to __________ for the development of agriculture and allied sectors.

1) Reserve Bank of India, Tamil Nadu

2) NABARD, Gujarat

3) Reserve Bank of India, West Bengal

4) Reserve Bank of India, Gujarat

5) NABARD, West Bengal

Answer- 5) NABARD, West Bengal

Explanation:

In FY21, National Bank for Agriculture and Rural Development (NABARD) gave financial support of Rs 9,162 crore to West Bengal(WB) for the development of agriculture and allied sectors under Covid-19.

i.In FY21, NABARD under its Rural Infrastructure Development Fund (RIDF) has sanctioned 2284 new rural infrastructure projects to WB worth Rs.1659.62 crores.

16. Which company recently (in May’21) entered into the 100 most-valued Indian firms’ club with a Market Capital of Rs. 55,500 crores?

1) SAIL

2) Power Grid

3) GAIL

4) BHEL

5) IOCL

Answer- 1) SAIL

Explanation:

With Rs 55,500 crore market capitalisation (m-cap), Steel Authority of India Limited(SAIL) enters 100 most-valued Indian firms’ club.

17. In May 2021, the Labour Ministry notified changes in the investment pattern of the Employees Provident Fund Organisation (EPFO).

Which of the following points are correct with respect to the changes made?

A) EPFO can invest up to 5% of surplus in Alternative Investment Funds (AIFs)

B) Investments can be made only in AIFs with a corpus equal to or more than Rs 100 crore

C) Investment can be made in AIFs in India & Overseas

1) Only A & C

2) Only B & C

3) Only C

4) All A, B & C

5) Only A & B

Answer- 5) Only A & B

Explanation:

The Labour Ministry has notified the changes in the investment pattern of the Employees Provident Fund Organisation(EPFO), which allowed it to make an investment of up to 5% of its investible surplus in Alternative Investment Funds (AIFs).

i.Investments can be made only in AIFs with a corpus equal to or more than Rs 100 crore.

ii.Directly or indirect investments in securities of the companies or funds which are incorporated and/or operated outside India is not allowed.

18. Which NBFC launched the public awareness campaign on financial frauds called “Savdhan Rahein, Safe Rahein”?

1) Bajaj Finserv

2) Moneyboxx Finance

3) Power Finance Corporation

4) Magma Fincorp

5) Muthoot Finance

Answer- 1) Bajaj Finserv

Explanation:

Bajaj Finserv launched ‘Savdhan Rahein, Safe Rahein’, a public awareness campaign on financial fraud risks to educate customers and public at large on financial fraud risks and how to stay protected across digital and social media platforms.

About Bajaj Finserv:

Chairman and Managing Director(CMD): Sanjiv Bajaj

Headquarters: Pune, Maharashtra

Chatbot: Blu

19.In which Insurance company did Carlyle Groups sell 4% of stake worth Rs 3,900 crores in Open Market (in May’21)?

1) IndiaFirst Life Insurance

2) PNB MetLife India Insurance

3) Tata AIA Life Insurance

4) SBI Life Insurance

5) Kotak Mahindra Life Insurance

Answer- 4) SBI Life Insurance

Explanation:

Carlyle Group, a private equity firm through its entity CA Emerald Investment, sold a 4% stake (amounting to 4.1 crore shares) in SBI Life Insurance for over Rs 3,900 crore through an open market transaction.

About SBI Life Insurance:

Establishment – October 2000

Chairman – Dinesh Kumar Khara

Tagline – With us, You’re sure

20. Pick the NBFC that recently (in May’21) got authorization from RBI for issuing semi-closed repaid Payment Instruments(PPIs)?

1) Bajaj Finance

2) Moneyboxx Finance

3) Power Finance Corporation

4) Magma Fincorp

5) Muthoot Finance

Answer- 1) Bajaj Finance

Explanation:

Bajaj Finance got authorization from the Reserve Bank of India (RBI) for the issuance and operation of semi-closed Prepaid Payment Instruments(PPIs) with perpetual validity.

Semi-closed PPIs are issued by banks & non-banks for the purchase of goods and services, including financial services, remittance facilities, etc. These instruments do not permit cash withdrawal.

21.Which Indian company was named as the 2nd fastest-growing retailer in the world in the “2021 Ranking of Global retail powerhouses” report?

1) Big Bazaar

2) Future Retail

3) Reliance Retail

4) Flipkart

5) ITC Limited

Answer- 3) Reliance Retail

Explanation:

In the “2021 Ranking of Global retail powerhouses” by Deloitte, millionaire Mukesh Ambani’s Reliance Retail Ltd has been ranked the 2nd fastest-growing retailer in the world, which is 1 rank down from its 2020 rank (In 2020 it was ranked 1st).

22. Which financial service company (in May’21) partnered with NIRA to provide personal loan upto Rs. 1 lakh to its customers through NIRA mobile app?

1) Bajaj Finserv

2) India Infoline

3) HDB Financial Services

4) Muthoot Finance

5) Tata Capital

Answer- 4) Muthoot Finance

Explanation:

Muthoot Finance Limited collaborated with NIRA, a Bangalore-based fintech start-up to provide personal loans up to Rs 1 lakh from Muthoot Finance through the NIRA app.

About Muthoot Finance Limited:

Managing Director – George Alexander Muthoot

Headquarters – Kochi, Kerala

23.Which bank (in May’21) entered into a strategic tie-up with UAE based Mashreq Bank to facilitate money transfers between UAE & India?

1) Axis Bank

2) ICICI Bank

3) RBL Bank

4) IndusInd Bank

5) Federal Bank

Answer- 5) Federal Bank

Explanation:

Federal Bank entered into a strategic tie-up with UAE based Mashreq Bank, to facilitate money transfers from the UAE to India. The partnership will support Mashreq’s payment product “QuickRemit”.

24.In May 2021, RBI appointed __________________ as the Executive Director of RBI, who will be in charge of the Human Resource Management Department.

1) Swaminathan Gurumurthy

2) Natarajan Chandrasekaran

3) Revathy Iyer

4) Sachin Chaturvedi

5) Jose J Kattoor

Answer- 5) Jose J Kattoor

Explanation:

RBI appointed Jose J Kattoor as its Executive Director (ED) with effect from 4th May 2021. He will manage the Human Resource Management Department, Corporate Strategy and Budget Department and Rajbhasha Department.

25.Which bank (in May’21) partnered with Geojit Financial Services to provide a single account equivalent of Savings, Demat & Trading accounts?

1) South Indian Bank

2) Federal Bank

3) Canara Bank

4) Axis Bank

5) Punjab National Bank

Answer- 5) Punjab National Bank

Explanation:

Geojit Financial Services has entered into an agreement with the Punjab National Bank (PNB) to provide the advantage of a three-in-one account to the customers of PNB. (ie; Savings Account, Demat Account & Trading Account).

26.Which bank’s mobile app in partnership with Shivrai Technologies launched “Farmizo Khata” a farm accounting mobile app?

1) CANDI by Canara Bank

2) Mobile+ by IDBI Bank

3) YONO by SBI

4) M-Connect Plus by Bank of Baroda

5) iMobile by ICICI Bank

Answer- 3) YONO by SBI

Explanation:

Shivrai Technologies partnered with leading digital banking platform, Yono SBI to launch a B2C Farm accounting mobile application, Farmizo Khata.

27. In May 2021, Nomura revised India’s GDP estimate for FY22 to _______, while it was projected to grow by 11% by ______________.

1) 12.6%, CRISIL

2) 10.8%, TransUnion

3) 10.8%, CRISIL

4) 12.6%, TransUnion

5) 11.5%, TransUnion

Answer- 3) 10.8%, CRISIL

Explanation:

Nomura revised India’s GDP growth forecast for the FY22 fiscal to 10.8% from 12.6%.

CRISIL estimated India’s growth estimation for FY22 to be 11%.

28. In May 2021, _____________ revised its GDP projections for FY22 to 7.9% while Care Ratings revised its GDP forecast to ________.

1) Fitch Ratings, 6.2%

2) Moody's, 6.2%

3) Fitch Ratings, 9.2%

4) Moody's, 9.2%

5) Fitch Ratings, 10.2%

Answer- 4) Moody's, 9.2%

Explanation:

Moody’s Investors Service revised India’s growth forecast for FY22 to 7.9% from 6.2%.

Care Ratings revised its GDP growth forecast for FY22 to 9.2 % from 10.2%.

29.India’s remittance inflow dropped by 0.2% in 2020 from 2019 as per the “Resilience COVID-19 Crisis Through a Migration Lens” report.

Identify the points that are correct with respect to the findings of the report:

A) The report was released by World Trade Organisation

B) China topped in the remittance inflow in 2020 among the countries with Low & Middle income

C) India’s remittance decline was due to 17% outflow drop from UAE

1) Only C

2) Only B & C

3) All A, B & C

4) Only A & B

5) Only B

Answer- 1) Only C

Explanation:

According to Resilience COVID-19 Crisis Through a Migration Lens report released by the World Bank, India received USD 83 Billion as Remittances in 2020, a drop of just 0.2% from 2019 (USD 83.3 Billion in 2019). It topped the list of Low- and Middle-Income Countries with maximum Remittance Inflows, India was followed by China (USD 59.5 Billion), Mexico (USD 42.8 Billion).

i.India’s decline was due to a 17% drop in remittance from the United Arab Emirates (UAE).

30.Which financial institution (in May’21) enabled Foreign Inward Remittance Advice (FIRA) digitally for Indian merchants?

1) PayPal

2) American Express

3) Google Pay

4) Paytm

5) PhonePe

Answer- 1) PayPal

Explanation:

PayPal, the Digital payments provider, introduced an automated process to receive monthly Foreign Inward Remittance Advice (FIRA) digitally, allowing Indian merchants to download their monthly digital FIRA issued by banks.

About PayPal:

Establishment – December 1998

President & CEO– Dan Schulman

Headquarters– San Jose, California

31. In May 2021, the 1st residential project constructed under the SWAMIH Fund was completed.

Identify the points that are correct with respect to the SWAMIH fund:

A) Special Window for Affordable and Mid-Income Housing (SWAMIH) fund provides loans to stalled housing projects due to lack of funding

B) SWAMIH is a INR 25, 000 Crore fund having 14 investors, with the Government of India holding 50% in the fund

C) Criteria - Carpet area of the house shall not exceed 1000 square feet

1) All A, B & C

2) Only B & C

3) Only C

4) Only A & C

5) Only A & B

Answer- 5) Only A & B

Explanation:

Union Minister for Finance Nirmala Sitharaman has stated that the Real Estate Fund – ‘Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I’ will benefit 1.16 lakh home loan borrowers, whose housing projects were stalled due to funding issues.

i.On May 13, 2021, SWAMIH Fund Completed its 1st Residential Project – ‘Rivali Park Wintergreens’ is located in Mumbai, Maharashtra.

ii.SWAMIH is a INR 25, 000 Crore fund having 14 investors, with the Government of India holding 50% in the fund.

iii.Criteria - Houses which don’t exceed 200 square metre of carpet area.

Note - 100% FDI in Real Estate Sector in India.

32. Which bank was recently (in May’21) excluded by RBI from the Second Schedule of the RBI Act, 1934?

1) Lakshmi Vilas Bank

2) Karur Vysya Bank

3) Karnataka Bank

4) Punjab National Bank

5) Karnataka Bank

Answer- 1) Lakshmi Vilas Bank

Explanation:

Reserve Bank of India(RBI) has excluded Lakshmi Vilas Bank Ltd.(LVB) from the Second Schedule of the RBI Act, 1934.

i.On November 17, 2020, the Government(Govt) (on the advice of RBI), imposed a 30-day moratorium for LVB with restricted cash withdrawal at Rs 25,000 per depositor.

ii.In November 2020, Govt allowed the merging of LVB (bank under crisis) with DBS Bank India Ltd.

33. Which organisation developed the National Digital Financial Infrastructure (NADI) with next-generation network infrastructure like 5G/Edge Cloud with SDN?

1) Deposit Insurance and Credit Guarantee Corporation of India (DICGC)

2) Institute for Development and Research in Banking Technology (IDRBT)

3) Reserve Bank Information Technology Private Limited (ReBIT)

4) Indian Financial Technology and Allied Services (IFTAS)

5) National Payments Corporation of India (NPCI)

Answer- 2) Institute for Development and Research in Banking Technology (IDRBT)

Explanation:

The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI), is building a next-generation Digital Financial Infrastructure named National Digital Financial Infrastructure (NADI).

i.Its modern network infrastructure of 5G/Edge Cloud with SDNs (software-defined networking) for connecting to the critical data centre infrastructure at the back-end.

About IDRBT:

It was established by the RBI in March 1996

Headquarters – Hyderabad, Telangana

34.Which bank recently (in May’21) launched a micro-website to provide data of various Covid-19 related emergency needs to its employees?

1) State Bank of India

2) Canara Bank

3) Bank of Baroda

4) Indian Overseas Bank

5) Bank of India

Answer- 3) Bank of Baroda

Explanation:

Bank of Baroda launched a Micro-website that will serve as an emergency networking platform for all its employees amid the second wave of COVID-19.

It provides Various data, like a network of plasma donors to employees and Recovered employees can also enroll themselves voluntarily as donors.

35.With which Insurance company PayPoint India partnered (in May’21) to provide COVID-19 Health Insurance policy to rural India?

1) Royal Sundaram General Insurance

2) ManipalCigna Health Insurance

3) Liberty General Insurance

4) Digit General Insurance

5) Max Bupa Health Insurance

Answer- 4) Digit General Insurance

Explanation:

PayPoint India made a partnership with Digit General Insurance to provide affordable COVID-19 Health Insurance policy to its customers in rural India. Under this partnership, Health Insurance coverage upto Rs. 2 lakhs is made.

36.Which Insurance Company launched the 1st of its kind portal Integrated Partner Onboarding Solution (IPOS) to its customers?

1) National General Insurance

2) Edelweiss General Insurance

3) Royal Sundaram General Insurance

4) Oriental General Insurance

5) Digit General Insurance

Answer- 2) Edelweiss General Insurance

Explanation:

Edelweiss General Insurance(EGI), an InsurTech start-up has launched Integrated Partner Onboarding Solution (IPOS), an industry-first digital end to end partner onboarding solution.

i.IPOS is a fully automated portal dedicated to all partner-related onboarding requirements.

37. Which bank introduced 2 new first-of-its-kind Digital Banking Solution called ‘SmartServe’ and ‘IntelliSign’ to replace physical documentation procedure?

1) Deutsche Bank

2) HSBC Bank India

3) Standard Chartered

4) Citibank

5) ICICI Bank

Answer- 2) HSBC Bank India

Explanation:

HSBC India has launched a first-of-its-kind Digital Banking Solution called ‘HSBC SmartServe’ and ‘HSBC IntelliSign’ to provide a quick, secure and seamless on-boarding process for its corporate customers.

Both the API enabled solutions are intending to replace the documentation process with a digital platform.

38.What is India’s position in the Insurance-Technology market in the Asia-Pacific region as per the report released by S&P Global Market Intelligence?

1) 5th

2) 3rd

3) 4th

4) 1st

5) 2nd

Answer- 5) 2nd

Explanation:

S&P Global Market Intelligence reported India as the 2nd largest insurance-technology (insurtech) market in Asia-Pacific(AP) region after China, as it accounts for 35 percent/$1.28 billion of the total venture capital ($3.66 billion) poured into the insurtech sector in the AP region so far.

i.Insurance premiums in India for the FY20, summed up to $107 billion

39.Who released the ‘CCI Journal on Competition Law and Policy’ during the foundation day celebration of Competition Commission of India(CCI)?

1) Atul Verma

2) Prakash Javadekar

3) Nirmala Sitharaman

4) Amit Banerjee

5) Anurag Singh Thakur

Answer- 3) Nirmala Sitharaman

Explanation:

Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs released the ‘CCI Journal on Competition Law and Policy’ at the virtual event organised to commemorate the 12th founding day of the Competition Commission of India(CCI).

About CCI:

Director General – Dr. Atul Verma

Headquarters – New Delhi

Established – 20th May 2009

40.___________ has announced USD 50 Billion to end COVID-19 Pandemic, by vaccinating at least _______ of the World's population by the end of 2021.

1) World Bank, 60%

2) World Bank, 30%

3) International Monetary Fund, 40%

4) World Bank, 50%

5) International Monetary Fund, 60%

Answer- 3) International Monetary Fund, 40%

Explanation:

The International Monetary Fund (IMF) announced an USD 50 Billion proposal to end the COVID-19 Pandemic. It has set a target of vaccinating at least 40% of the world’s population by the end of 2021 & remaining 60% by the first half of 2022.

i.This would inject USD 9 trillion into the global economy by 2025 due to fast resumption of economic activity.

41.Which bank (in May’21) implemented TransUnion’s Onboarding solution for digitising onboarding of its credit card customers?

1) YES Bank

2) State Bank of India

3) ICICI Bank

4) Citibank

5) Axis Bank

Answer- 1) YES Bank

Explanation:

YES Bank digitises onboarding of credit card customers by implementing TransUnion’s Onboarding Solution. This solution will enable YES BANK to onboard its credit card customers seamlessly, efficiently, and quickly.

About YES Bank:

MD & CEO – Prashant Kumar

Tagline– Experience our Expertise

Headquarters – Mumbai, Maharashtra

42. In May 2021, PNB & PNB Housing Finance Ltd made a New Brand Agreement by providing the right to withdraw the PNB brand name from PNB Housing. At present what percent of PNB Housing share is held by PNB?

1) 20%

2) 51%

3) 49%

4) 33%

5) 25%

Answer- 4) 33%

Explanation:

In May 2021, Punjab National Bank (PNB) and PNB Housing Finance Limited (PNB Housing) made a fresh brand agreement, to provide PNB with the right to withdraw its brand name from PNB Housing. Currently, PNB holds 33% in PNB Housing.

About PNB Housing Finance Limited:

Establishment – November 11, 1988

Headquarters – New Delhi