1. Which of the following is the first bank to open an emergency credit facility for borrowers affected by the Coronavirus outbreak?
a. SBI
b. Axis bank
c. ICICI bank
d. HDFC bank
S-a
EXPLANATION-
• SBI became the first bank to open an emergency credit facility for borrowers affected by the Coronavirus outbreak.
• A maximum loan amount of upto Rs 200 crores or 10 percent of the existing fund based working capital limits can be availed under this emergency line.
• The facility will be available till end of June and will be specifically aimed at MSME borrowers. These loans will be given at a flat rate of 7.25%.
2. According to S&P Global rating agencies, what is India's growth forecast for 2020?
a. 5.1%
b. 6.1%
c. 4.9%
d. 5.2%
S-d
EXPLANATION-
• S&P Global Ratings lowered India's economic growth forecast to 5.2% for 2020, saying the global economy is entering a recession amid the coronavirus pandemic.
• The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.
• Asia-Pacific economic growth in 2020 will more than halve to less than 3 per cent as the "global economy enters a recession.
3. Which of the following has signed a crude oil sales agreement (COSA) for sale and purchase of crude oil with Numaligarh Refinery Limited (NRL)?
a. Bharat Petroleum
b. Oil and Natural Gas Corporation (ONGC)
c. Oil India Limited (OIL)
d. Reliance Industries
S-c
EXPLANATION-
• Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL) have signed a crude oil sales agreement (COSA) for sale and purchase of crude oil. The agreement has been signed by OIL’s Director (Finance) Harish Madhav and NRL’s Director (Finance) Indranil Mittra on behalf of OIL and NRL respectively at OIL’s Pipeline Headquarters in Narengi, Guwahati.
• This COSA will come in effect from April 1, 2019, to March 31, 2025, that is for a term of 5 years. It will streamline sale and purchase transactions of crude oil produced from fields in northeast India.
4. Where will be the World’s First Flying Car manufactured?
a. Gujarat
b. Andhra Pradesh
c. Maharashtra
d. Haryana
S-a
EXPLANATION-
• Flying car-maker PAL-V of The Netherlands will set up a manufacturing plant in Gujarat and has set a target of commencing production by 2021. PAL-V stands for Personal Air Land Vehicle.
• A Memorandum of Understanding was signed in the presence of Gujarat Chief Minister Vijay Rupani between state Industries Principal Secretary MK Das and Carlo Maasbommel, vice president of PAL-V's international business development.
• The state government would help the Dutch car-maker in getting all necessary approvals from the Centre for the plant in Gujarat, the first to be set up by the firm in India.
• The PAL-V flying car, having two engines, can run at a speed of 160 kilometres on road and can fly at a speed of 180 kms. The car can turn into a flying vehicle in just three minutes and cover a distance of 500 km on a full tank.
5. With which of the following did India sign a deal for the procurement of 16,479 light machine guns (LMGs) at a cost of Rs 880 crore?
a. Israel Weapons Industries
b. Boeing
c. Dassault Aviation
d. Heckler and Koch
S-a
EXPLANATION-
• The Defence Ministry has signed a capital acquisition contract with Israel Weapons Industries (IWI) for procurement of 16,479 light machine guns (LMGs) at a cost of Rs 880 crore.
• The contract was signed with the approval of Defence Minister Rajnath Singh. IWI, which is based out of Ramat HaSharon city in Israel, would be providing Negev 7.62*51 mm LMGs to the Indian armed forces under the contract.
• The contracted Negev 7.62X51 mm LMG is a combat proven weapon and currently used by several countries around the globe. This LMG will greatly enhance the lethality and range of a soldier vis-a-vis the presently used weapon. The provisioning of this "operationally urgent and very critically needed weapon" will boost the confidence of the frontline troops and provide much needed combat power to the armed forces.
