Business, Economy & Banking Current Affairs MCQs
21. The Export Policy of ‘Non-Basmati White Rice’ has been changed from ‘Free with export duty of 20%’ to which state?
[A] State Trading Enterprises
[B] Restricted Goods
[C] Prohibited Goods
[D] Free Goods
Show Answer
Correct Answer: C [Prohibited Goods]
Notes:
The government has modified the Export Policy of Non-Basmati White Rice to ensure sufficient domestic supply at affordable rates.
To guarantee sufficient presence of Non-Basmati White Rice in the Indian market and address the price surge within the country, the Government of India has swiftly changed the Export Policy of this rice variety from ‘Free with export duty of 20%’ to ‘Prohibited,’ taking immediate effect.
22. Which organisation introduced six new mutual fund strategies under ESG theme?
[A] RBI
[B] SEBI
[C] PFRDA
[D] IRDAI
Show Answer
Correct Answer: B [SEBI]
Notes:
The Securities and Exchange Board of India (SEBI) has broadened the Environmental, Social, and Governance (ESG) thematic category’s scope, enabling asset management companies to introduce funds under six new strategies.
Previously, mutual funds were restricted to launching only one scheme with ESG investing within the thematic category for equity schemes.
23. Which institution has released the guidelines on Corporate Debt Market Development Fund (CDMDF)?
[A] RBI
[B] SEBI
[C] Finance Ministry
[D] BSE
Show Answer
Correct Answer: B [SEBI]
Notes:
The capital markets regulator – SEBI (Securities and Exchange Board of India) has released the guidelines for the Corporate Debt Market Development Fund (CDMDF).
The fund’s purpose is to serve as a backstop facility, facilitating the purchase of investment-grade corporate debt securities during times of market stress, thereby boosting confidence among participants in the corporate debt market.
24. DGCA fined which airline for deficiencies in their procedures related to frequent tail strike incidents?
[A] Air India
[B] IndiGo
[C] Spicejet
[D] Akasa
Show Answer
Correct Answer: B [IndiGo]
Notes:
The DGCA fined IndiGo Rs 30 lakhs and issued a show cause notice due to deficiencies in their documentation and procedures related to frequent tail strike incidents on their A321 aircraft.
Tail strikes occur when the tail of an aircraft hits the ground or any stationary object, with a majority happening during landings.
25. What is the expansion of ‘CDMDF’ which was launched by the Union Finance Minister recently?
[A] Corporate Debt Market Development Fund
[B] Company Debt Market Development Fund
[C] Client Debt Market Development Fund
[D] Corporate Dual Market Development Fund
Show Answer
Correct Answer: A [Corporate Debt Market Development Fund]
Notes:
The AMC Repo Clearing Limited (ARCL) and Corporate Debt Market Development Fund (CDMDF) were inaugurated by Union Finance Minister Nirmala Sitharaman.
The CDMDF was announced in the 2021-22 Union Budget to enhance liquidity in the Corporate Bond market during stressed and normal times.
26. What number of Income Tax Returns were filed for AY 2023-2024 in India?
[A] 4.77 crore
[B] 5.77 crore
[C] 6.77 crore
[D] 7.77 crore
Show Answer
Correct Answer: C [6.77 crore]
Notes:
The Income-tax Department announced that there is a surge in filing of Income-tax Returns (ITRs), resulting in a new record of ITRs filed.
The total number of ITRs for AY 2023-24 filed till 31st July, 2023 are more than 6.77 crore, which is 16.1% more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022. Over 64.33 lakh ITRs were filed on a single day-on 31st July, 2023.
27. Which institution barred intermediaries for annuities business?
[A] RBI
[B] SEBI
[C] PFRDA
[D] IRDAI
Show Answer
Correct Answer: C [PFRDA]
Notes:
Pension regulator PFRDA has barred Annuity Service Providers (ASPs) from deploying any agency of intermediaries for sourcing annuities business from NPS subscribers upon their retirement or exit from the NPS.
Annuities under National Pension System (NPS) can be issued by ASPs only under direct channels, as per the official sources.
28. What is the Goods and Services Tax (GST) on full face value of online gaming?
[A] 5%
[B] 12%
[C] 18%
[D] 28%
Show Answer
Correct Answer: D [28%]
Notes:
The Goods and Services Tax (GST) Council, in its 51st meeting held recently, decided to stick to its earlier decision to impose a 28 per cent tax on the full-face value of the bets placed on online gaming, casinos and horse-trading.
The council said a 28 per cent GST would apply from October 1.
29. As per the recent monetary policy committee announcement, what is the repo rate as of August 2023?
[A] 5.5 %
[B] 6.5 %
[C] 7.5 %
[D] 8.5 %
Show Answer
Correct Answer: B [6.5 %]
Notes:
The Reserve Bank of India (RBI) has kept the policy rate unchanged at 6.5% in the recent monetary policy committee meeting.
RBI Governor Shaktikanta Das retained FY24 GDP growth projections at 6.5%, but raised the CPI inflation forecast for FY24 to 5.4%.
30. Which institution launched Centralised Web Portal ‘UDGAM’?
[A] RBI
[B] NITI Aayog
[C] NHAI
[D] NASSCOM
Show Answer
Correct Answer: A [RBI]
Notes:
The Reserve Bank of India (RBI) launched a Centralised Web Portal UDGAM (Unclaimed Deposits – Gateway to Access inforMation).
The launch of the web portal will aid users to identify their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.
The above questions are part of Daily Current Affairs 20 MCQs Series in GKToday's Academy Android Application. This series can be subscribed in the app only for Rs. 750/- for entire year.
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