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Daily Current Affairs
21 & 22 April, 2025
1. Which U.S. official is scheduled to visit India to discuss economic, trade, and diplomatic relations?
- A) Secretary of State Antony Blinken
- B) Treasury Secretary Scott Bessent
- C) Vice President JD Vance
- D) Defense Secretary Lloyd Austin
- E) Commerce Secretary Gina Raimondo​
Answer: C) Vice President JD Vance Explanation: U.S. Vice President JD Vance is set to visit India to engage in discussions focusing on the economy, trade, and diplomatic relations between the two nations.
2. Finance Minister Nirmala Sitharaman is visiting the U.S. to attend meetings of which international organizations?​
- A) United Nations and World Trade Organization
- B) World Bank and International Monetary Fund
- C) Asian Development Bank and G20
- D) OECD and BRICS
- E) NATO and ASEAN​
Answer: B) World Bank and International Monetary Fund Explanation: Finance Minister Nirmala Sitharaman is attending the Spring Meetings of the World Bank and the International Monetary Fund in the U.S., where global economic issues are discussed.
3. During her U.S. visit, with whom is Finance Minister Nirmala Sitharaman expected to discuss tariffs and trade talks?​
- A) U.S. President Joe Biden
- B) U.S. Secretary of State Antony Blinken
- C) U.S. Treasury Secretary Scott Bessent
- D) U.S. Trade Representative Katherine Tai
- E) U.S. Commerce Secretary Gina Raimondo​
Answer: C) U.S. Treasury Secretary Scott Bessent Explanation: Finance Minister Nirmala Sitharaman is scheduled to hold discussions with U.S. Treasury Secretary Scott Bessent on matters related to tariffs and trade between India and the U.S.
4. What significant change did the Reserve Bank of India (RBI) announce regarding minors operating bank accounts?​
- A) Minors above 10 years can operate bank accounts independently
- B) Minors can only open accounts with a guardian
- C) Minors are restricted from opening any bank accounts
- D) Minors require court approval to open bank accounts
- E) No changes were announced​
Answer: A) Minors above 10 years can operate bank accounts independently Explanation: The RBI announced that minors above the age of 10 can independently open and operate bank accounts, promoting financial inclusion among the youth.
​5. What is the primary benefit of allowing minors over 10 years to operate bank accounts independently?​
- A) Reduces banking fraud
- B) Encourages early financial literacy
- C) Increases bank profits
- D) Simplifies banking regulations
- E) Limits parental control over finances​
Answer: B) Encourages early financial literacy Explanation: Allowing minors to operate bank accounts fosters financial literacy from a young age, helping them understand money management and banking operations early in life.
​6. Which type of accounts can minors open independently as per the RBI’s new guidelines?​
- A) Only fixed deposit accounts
- B) Only current accounts
- C) Savings and term deposit accounts
- D) Only recurring deposit accounts
- E) Only joint accounts with parents​
Answer: C) Savings and term deposit accounts Explanation: Under the new RBI guidelines, minors can independently open and operate savings and term deposit accounts, promoting savings habits among the youth.
7. Who can act as a guardian for minors opening bank accounts, according to the RBI?​
- A) Only the father
- B) Only the mother
- C) Any natural or legal guardian
- D) Only legal guardians appointed by the court
- E) Only grandparents​
Answer: C) Any natural or legal guardian Explanation: The RBI allows minors to open bank accounts with any natural or legal guardian, providing flexibility and inclusivity in account operations.
​8. What is the projected value of India’s exports to the U.S. for FY25?​
- A) $27.68 billion
- B) $32.86 billion
- C) $35.33 billion
- D) $41.18 billion
- E) $45.00 billion​
Answer: D) $41.18 billion Explanation: According to the data presented, India’s exports to the U.S. are projected to reach $41.18 billion in FY25, indicating a significant increase from previous fiscal years.
9. What strategy is India exploring to address concerns raised by the U.S. administration about its growing trade deficit with India?​
- A) Imposing tariffs on U.S. goods
- B) Reducing exports to the U.S.
- C) Increasing imports from the U.S.
- D) Devaluing the Indian rupee
- E) Halting trade negotiations​
Answer: C) Increasing imports from the U.S. Explanation: India is exploring strategies to narrow its trade surplus by increasing imports from the U.S., aiming to address concerns about the growing U.S. trade deficit with India.
10. What is the primary focus of the upcoming BTA negotiations between India and the U.S.?​
- A) Defense cooperation
- B) Climate change policies
- C) Trade in goods and services
- D) Educational exchange programs
- E) Space exploration collaboration​
Answer: C) Trade in goods and services Explanation: The upcoming BTA (Bilateral Trade Agreement) negotiations between India and the U.S. are set to cover 19 chapters, including goods, services, customs facilitation, and regulatory issues, focusing primarily on trade matters.
