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27th October 2023 Current Affairs Quiz: Welcome to the Current Affairs Quiz for 27tn October 2023. Test your knowledge of the latest events and developments from around the world with our carefully curated quiz questions. Stay informed about the most significant news, politics, science, and more in this quiz. Are you ready to challenge your understanding of current affairs? Let’s begin!
27th October 2023 Current Affairs | Today GK Quiz
1. What is India’s rank in terms of fintech unicorns according to Statista’s global research?
A) First
B) Second
C) Third
D) Fourth
Answer: C) Third
Explanation: India is ranked third in the global fintech landscape with 17 fintech unicorns.
2. Which country has the highest market capitalization in the fintech industry, dominated by companies like Visa, Paypal, and Mastercard?
A) India
B) China
C) United States
D) United Kingdom
Answer: C) United States
Explanation: The United States maintains supremacy in terms of market capitalization with companies like Visa, Paypal, and Mastercard collectively contributing to a market capitalization of $1.2 trillion in the fintech industry.
3. What is the primary purpose of ‘reference’ fuels in the automotive industry?
A) To improve fuel economy in vehicles.
B) To reduce carbon emissions in vehicles.
C) To calibrate and test vehicles by manufacturers and testing agencies.
D) To increase the octane number in regular fuels.
Answer: C) To calibrate and test vehicles by manufacturers and testing agencies.
Explanation: ‘Reference’ fuels are used for calibrating and testing vehicles by manufacturers and agencies like the International Centre for Automotive Technology (ICAT) and the Automotive Research Association of India.
4. What is the significant economic advantage of producing ‘reference’ fuel domestically in India?
A) It results in lower sulfur content in the fuel.
B) It reduces costs compared to imported ‘reference’ fuel.
C) It increases the octane number of the fuel.
D) It lowers the flash point of the fuel.
Answer: B) It reduces costs compared to imported ‘reference’ fuel.
Explanation: The domestic production of ‘reference’ fuel is expected to reduce costs, making it more economical compared to imported ‘reference’ fuel, which is expensive.
5. On the day of the monthly Futures and Options (F&O) expiry, which group of investors emerged as net buyers in the Indian stock market?
A) Foreign Institutional Investors (FIIs)
B) Domestic Institutional Investors (DIIs)
C) Retail investors
D) Retail traders
Answer: B) Domestic Institutional Investors (DIIs)
Explanation: On the day of the F&O expiry, while FIIs continued to sell, DIIs were net buyers, infusing ₹13,600.71 crore into Indian stocks.
6. Why have FIIs been selling Indian equities, as mentioned in the article?
A) Due to a rise in Indian bond yields.
B) Due to the strength of the Indian rupee.
C) Due to concerns about the West Asia conflict and economic uncertainty.
D) Due to factors like rising US bond yields and the strength of the dollar index.
Answer: D) Due to factors like rising US bond yields and the strength of the dollar index.
Explanation: FIIs have been selling Indian equities due to factors like rising US bond yields and the strength of the dollar index, which have negatively impacted market sentiment.
7. What action may be taken against lenders, financial institutions, and credit bureaus if they fail to resolve customer complaints within 30 days, as per the RBI’s directive?
A) They will be temporarily suspended from operations.
B) They will face a fine of ₹100 per day.
C) They will be required to issue an apology to the customer.
D) They will receive a warning letter from the RBI.
Answer: B) They will face a fine of ₹100 per day.
Explanation: The RBI has informed that lenders, financial institutions, and credit bureaus may face a fine of ₹100 per day if they do not resolve customer complaints within 30 days.
8. What prompted the need for a compensation framework for resolving customer complaints related to credit information, as per the RBI’s directive?
A) The RBI’s desire to increase revenue from fines.
B) A significant number of customer complaints regarding delays in updating credit information.
C) A decrease in the number of credit information companies (CICs) in the market.
D) The need to reduce the role of CICs in credit reporting.
Answer: B) A significant number of customer complaints regarding delays in updating credit information.
Explanation: The need for a compensation framework arose from a significant number of customer complaints, where borrowers reported delays in updating their credit status, which led to difficulties in obtaining loans or credit cards.
9. What is one of the primary objectives of the Shenzhou 17 mission launched by China?
A) Landing a rover on the moon’s far side.
B) Conducting experiments in space medicine and technology.
C) Sending a new telescope into space.
D) Establishing a space station in cooperation with the International Space Station.
Answer: B) Conducting experiments in space medicine and technology.
Explanation: The Shenzhou 17 mission’s primary tasks include conducting experiments in space medicine and technology, as well as installing and maintaining equipment both inside and outside the space station.
10. What stance does Slovakia’s newly appointed Prime Minister, Robert Fico, take on military aid to Ukraine and immigration?
A) He advocates for increased military aid to Ukraine and open immigration policies.
B) He opposes military aid to Ukraine and aims to reduce immigration.
C) He supports both increased military aid to Ukraine and immigration policies.
D) He opposes military aid to Ukraine but supports open immigration policies.
Answer: B) He opposes military aid to Ukraine and aims to reduce immigration.
Explanation: Robert Fico, the newly appointed Prime Minister of Slovakia, is known for his nationalist stance and has expressed opposition to further military assistance to Ukraine as well as a desire to curb immigration.
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