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28th July 2023 Current Affairs Quiz – Step right up and test your knowledge with our engaging and informative Current Affairs Quiz 28th July 2023! Stay up-to-date with the latest happenings and events from around the world as we bring you a diverse set of questions covering various fields such as politics, economy, sports, technology, and more. Challenge yourself with our Daily Current Affairs Quiz and stay ahead in the know-how of the world’s current affairs on this eventful day!
28th July 2023 Current Affairs | Today GK Quiz
1. What is the primary objective of International Tiger Day?
A) To celebrate the cultural significance of tigers in Asian countries.
B) To create awareness about the threats faced by tigers and their conservation.
C) To monitor the population of tigers and assess the success of conservation efforts.
D) To advocate for stronger policies against poaching and illegal wildlife trade.
Answer: B) To create awareness about the threats faced by tigers and their conservation.
Explanation: International Tiger Day aims to spread awareness about the drastic decline in wild tiger populations and the various threats they face, including habitat loss, poaching, illegal wildlife trade, and human-wildlife conflict. The main purpose of this day is to bring attention to the importance of protecting and conserving tigers to ensure their survival for future generations.
2. Why is global collaboration between countries crucial for tiger conservation?
A) To preserve the cultural and symbolic significance of tigers in Asia.
B) To advocate for stricter law enforcement against poaching and illegal wildlife trade.
C) To protect numerous other species and maintain ecosystem balance.
D) To ensure the revival of the tiger population through genetic diversity.
Answer: C) To protect numerous other species and maintain ecosystem balance.
Explanation: Tigers inhabit various regions across Asia, and they often cross national borders. Global collaboration between countries is essential for tiger conservation to protect tiger populations and their habitats. As apex predators, tigers play a crucial role in maintaining the balance of their ecosystems. By conserving tigers and their habitats, we also safeguard numerous other species and the overall biodiversity of the ecosystems they inhabit.
3. What is the primary purpose of the International Exhibition-cum-Convention Centre (IECC), also known as ‘Bharat Mandapam’?
A) To become the largest conference and exhibition site in Singapore.
B) To accommodate 5,900 people and host the upcoming G-20 Summit in Delhi.
C) To integrate traditional art elements and showcase Indian cultural heritage.
D) To house 3 PVR theaters combined for movie screenings and events.
Answer: B) To accommodate 5,900 people and host the upcoming G-20 Summit in Delhi.
Explanation: The primary purpose of the International Exhibition-cum-Convention Centre (IECC) or ‘Bharat Mandapam’ is to provide a venue that can accommodate around 5,900 people and host events, conferences, and exhibitions. It has been designed to become the largest conference and exhibition site in India and is set to be the venue for the upcoming G-20 Summit in September.
4. What architectural inspiration is reflected in the design of the International Exhibition-cum-Convention Centre (IECC)?
A) The lotus flower symbolizing purity and beauty.
B) The traditional Indian temple architecture.
C) The shankha or conch shell.
D) The iconic Sydney Opera House design.
Answer: C) The shankha or conch shell.
Explanation: The design of the International Exhibition-cum-Convention Centre (IECC) is inspired by the shankha or conch shell. The building’s elliptical shape draws inspiration from this sacred symbol, and it also integrates traditional art elements on walls and facades. The conch shell holds cultural and symbolic significance in Indian traditions and is reflected in the architectural design of the IECC.
5. What is the purpose of loan write-offs for banks?
A) To reclaim the defaulted amount from the borrower through legal actions.
B) To reduce the bank’s tax liability and claim the written-off amount as a loss.
C) To improve the overall financial health of the bank and address rising NPAs.
D) To remove non-performing assets from the bank’s balance sheet permanently.
Answer: C) To improve the overall financial health of the bank and address rising NPAs.
Explanation: The primary purpose of loan write-offs for banks is to address the issue of rising non-performing assets (NPAs) and improve the overall financial health of the bank. By removing defaulted loans from their assets, banks can present a more favorable financial picture to stakeholders and investors. Writing off loans also helps banks reduce their tax liability, but the main objective is to manage NPAs effectively.
6. What impact does loan write-offs have on the calculation of Gross Non-Performing Assets (GNPA) ratio?
A) It does not affect the GNPA ratio, as the written-off loans are considered a loss.
B) It increases the GNPA ratio, reflecting the total amount of defaulted loans.
C) It reduces the GNPA ratio, giving the impression of lower non-performing assets.
D) It maintains the GNPA ratio at a constant level, unaffected by loan write-offs.
Answer: C) It reduces the GNPA ratio, giving the impression of lower non-performing assets.
Explanation: Loan write-offs significantly impact the calculation of the Gross Non-Performing Assets (GNPA) ratio. When banks remove defaulted loans from their balance sheets through write-offs, the total amount of non-performing assets decreases, which leads to a lower GNPA ratio. This can create an impression of reduced NPAs and potentially boost investor confidence in the bank’s financial health. However, it’s important to note that the written-off loans are still considered as unrecovered loans on the bank’s books.
7. According to SBI Research economists, when will India likely become the third-largest economy in the world?
A) By FY23
B) By FY25
C) By FY27
D) By FY28
Answer: D) By FY28
Explanation: SBI Research economists stated that India will become the third-largest economy in the world by FY28, two years earlier than previously projected. This means India is expected to achieve this milestone by the fiscal year 2027-2028.
8. What growth rate does India need to achieve annually to become the third-largest economy, according to SBI economists?
A) 5.5-6%
B) 6.5-7%
C) 7.5-8%
D) 8.5-9%
Answer: B) 6.5-7%
Explanation: To become the third-largest economy, India needs to log 11-11.5% nominal growth annually, according to SBI economists. They believe that achieving 6.5-7% growth rate would be sufficient to meet this goal. They consider 6.5-7% growth as the “new normal” in the current world scenario, which they believe is achievable for India.
9. What is the World Cities Culture Forum (WCCF) primarily focused on?
A) Exploring the role of culture in future prosperity of cities.
B) Promoting international cooperation among cities in various domains.
C) Creating a network of cities to address environmental sustainability.
D) Establishing guidelines for smart city development.
Answer: A) Exploring the role of culture in future prosperity of cities.
Explanation: The World Cities Culture Forum (WCCF) is primarily focused on exploring the role of culture in future prosperity of cities. It is a global network of cities that share research and intelligence to understand and assess the impact and significance of culture and creativity in urban centers. The forum’s partners believe that culture is key to their future as sustainable urban centers, and they collaborate through various events and activities to make evidence-based policy decisions.
10. What led to Bengaluru becoming the first Indian city to be part of the World Cities Culture Forum (WCCF)?
A) Its status as the ‘Silicon Valley of India’ and its leading role in information technology.
B) The establishment of Unboxing BLR Foundation and its efforts in representing the city.
C) The recognition of Bengaluru as the ‘Garden City of India’ with its botanical gardens.
D) The large number of festivals and cultural events hosted in Bengaluru annually.
Answer: B) The establishment of Unboxing BLR Foundation and its efforts in representing the city.
Explanation: Bengaluru became the first Indian city to be part of the World Cities Culture Forum (WCCF) due to the establishment of Unboxing BLR Foundation. The participative project called Unboxing Bangalore has been working on creating a new narrative around Bengaluru through multimedia properties and has been representing the city and leading the discussions. The WCCF will work closely with Unboxing BLR Foundation, which played a significant role in Bengaluru’s inclusion in the global network of cities focused on exploring the role of culture in future prosperity.
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