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Current Affairs Quiz Today – 21st Jan 2021

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Current affairs quiz today – 21st Jan. 2021.
We recommend that you read the current affairs of 21st Jan. 2021 before taking today’s current affairs quiz. Click here to access it.

Results

#1. Which of the following is correct with respect to Secured Overnight Financing Rate (SOFR)?

1. It is a benchmark interest rate for dollar-denominated derivatives and loans.

2. SOFR is based on transactions in the Treasury repurchase market.

3. The Federal Reserve Bank of New York began publishing the SOFR as part of an effort to replace LIBOR.

Choose the correct option:

ANS: (D) 1, 2 and 3

Explanation:

  • Secured Overnight Financing Rate (SOFR) is a benchmark interest rate for dollar-denominated derivatives and loans.
  • It is based on transactions in the Treasury repurchase market. The daily secured overnight financing rate (SOFR) is based on transactions in the Treasury repurchase market, where investors offer banks overnight loans backed by their bond assets.
  • The Federal Reserve Bank of New York began publishing the secured overnight financing rate (SOFR) in April 2018 as part of an effort to replace LIBOR, a long-standing benchmark rate used around the world.
  • It is a replacement for USD LIBOR that may be phased out by end-2021.
    • The US Dollar LIBOR interest rate is the average interbank interest rate at which a large number of banks on the London money market are prepared to lend one another unsecured funds denominated in US Dollars.

#2. “Sanaa” recently in news is located in:

ANS: (A) Yemen

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Explanation:

  • Sanaa is the largest city in Yemen and the centre of Sanaa Governorate.
  • The city is not part of the Governorate, but forms the separate administrative district of “Amanat Al-Asemah”.
  • Under the Yemeni constitution, Sanaa is the capital of the country, although the seat of the Yemeni government moved to Aden, the former capital of South Yemen in the aftermath of the Houthi occupation.
  • Aden was declared as the temporary capital by President Abdrabbuh Mansur Hadi in March 2015.
  • Aden, the temporary capital of Yemen, is near the eastern approach to the Red Sea.

#3. Consider the following statements regarding Bad Bank.

1. A bad bank is an asset reconstruction company (ARC) that takes over the bad loans of commercial banks, manages them and finally recovers the money over a period of time.

2. Bad bank is also involved in lending and taking deposits.

Which of the above statements is/are correct?

ANS: (A) 1 only

Explanation:

The idea of setting up a bad bank to resolve the growing problem of non-performing assets (NPAs), or loans on which borrowers have defaulted, is back on the table.

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Technically, a bad bank is an asset reconstruction company (ARC) or an asset management company that takes over the bad loans of commercial banks, manages them and finally recovers the money over a period of time. The bad bank is not involved in lending and taking deposits, but helps commercial banks clean up their balance sheets and resolve bad loans. The takeover of bad loans is normally below the book value of the loan and the bad bank tries to recover as much as possible subsequently.

#4. Consider the following statements regarding 5G Technology.

1. 5G or fifth generation is the latest upgrade in the long-term evolution (LTE) mobile broadband networks.

2. 5G only works in high frequency spectrum.

3. 5G is set to be as much as 100 times faster than 4G.

Which of the above statements is/are correct?

ANS: (D) 1 and 3 only

Explanation:

5G or fifth generation is the latest upgrade in the long-term evolution (LTE) mobile broadband networks. 5G mainly works in 3 bands, namely low, mid and high frequency spectrum — all of which have their own uses as well as limitations.

With speeds of up to 100 gigabits per second, 5G is set to be as much as 100 times faster than 4G.

#5. Which of the following are classified under the Particularly Vulnerable Tribal Groups (PVTG)?

1. Toda

2. Kattunayakan

3. Onges

4. Reangs

Choose the correct option:

ANS: (D) 1, 2, 3 and 4

Explanation:

  • Particularly vulnerable tribal group is a government of India classification created with the purpose of enabling improvement in the conditions of certain communities with particularly low development indices.
  • Kattunayakan is a designated Scheduled Tribe in the Indian states of Andhra Pradesh, Karnataka, Kerala and Tamil Nadu. They are classified as Particularly Vulnerable Tribal Groups in Kerala and Tamil Nadu.
  • Todas are classified as Particularly Vulnerable Tribal Groups in Tamil Nadu.
  • Reangs are the only Particularly Vulnerable Tribal Group in Tripura.
  • Great Andamanese, Jarawas, Onges, Sentinelese and Shom Pens are PVTGs in Andaman and Nicobar Islands.
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