31. As per the newly activated Aadhaar based GST registration, what is the time taken for GST registration by an entity?
[A] 3 working days
[B] 5 working days
[C] 7 working days
[D] 21 working days
Show Answer
Correct Answer: A [3 working days]
Notes:
In order to enhance the ease of doing business, the Aadhaar authentication has been activated by the Government for registration to GST. The Aadhaar based GST registration of an entity would be completed in 3 working days and there is no requirement for physical verification.
Those not opting for Aadhaar based registration will be subjected to physical verification of place of business activity and other related documentary verification. The time required for non-Aadhaar registration would be up to 21 days.
32. As per the recent report released by McKinsey, at what rate India’s GDP should grow to create at least 90 million jobs?
[A] 4 – 4.5 per cent
[B] 6 – 6.5 per cent
[C] 8 – 8.5 per cent
[D] 10 – 10.5 per cent
Show Answer
Correct Answer: C [8 – 8.5 per cent]
Notes:
The McKinsey Global Institute has recently released a report titled ‘India’s turning point – An economic agenda to spur growth and jobs’.
As per the report, it highlights that the country’s GDP, which is set to contract by over 5% in FY21 should grow at 8-8.5% per annum for the next decade to create at least 90 million new non-agricultural jobs required by 2030.
33. Which institution announces the Sovereign Gold Bond (SGB) scheme?
[A] State Bank of India
[B] Indian Bullion Association
[C] Ministry of Finance
[D] Reserve Bank of India
Show Answer
Correct Answer: D [Reserve Bank of India]
Notes:
Sovereign Gold Bond (SGB) is issued by the Reserve Bank India on behalf of the Government of India. The bonds are denominated in the units of grams of gold.
The 6th tranche of Sovereign Gold Bond (SGB) Scheme 2020-21 has been announced by the Reserve Bank of India and the issue price of the Bond has been fixed at Rs.5117 per gram. The scheme will be open from 31st August to 4th September.
34. Which Insurance company has launched AI-based chatbot service named ‘LiGo’?
[A] HDFC Ergo
[B] ICICI Prudential
[C] Life Insurance Corporation
[D] Canara-HSBC OBC
Show Answer
Correct Answer: B [ICICI Prudential]
Notes:
ICICI Prudential Life Insurance has recently launched an AI-powered voice chatbot named ‘LiGo’, on Google Assistant.
The customers and policy holders can use this service to resolve their queries on products by giving simple voice commands. As per the company, customers can activate ‘Google Assistant’ on their Android smartphones and say their policy number or mobile number for details on their policies.
35. European Investment Bank is to invest 650 million Euros in the construction of the metro line of which Indian city?
[A] Kolkata
[B] Kanpur
[C] Hyderabad
[D] Bengaluru
Show Answer
Correct Answer: B [Kanpur]
Notes:
The European Investment Bank (EIB) announced that it is to invest 650 million Euros in the construction of Kanpur’s first metro service.
The agreement regarding the investment has been recently signed. This is the second metro rail project supported by the EIB in the state of Uttar Pradesh. It had earlier financed the Lucknow Metro rail system.
36. Which organization has constituted a 6-member panel for index linked insurance products?
[A] RBI
[B] NICL
[C] IRDAI
[D] LIC
Show Answer
Correct Answer: C [IRDAI]
Notes:
Insurance Regulatory Development Authority of India (IRDAI) has constituted a 6-member panel to examine feasibility of permitting life insurance companies to offer index linked insurance products.
The panel would be headed by the appointed actuary of LIC, Dinesh Pant. Presently Life Insurance companies are offering two types of products namely Unit linked insurance plans and traditional plans.
37. Who is the head of the 3-member panel constituted by Government of India for assessment of relief to borrowers?
[A] Urjit Patel
[B] Raghuram Rajan
[C] Rajiv Mehrishi
[D] Usha Thorat
Show Answer
Correct Answer: C [Rajiv Mehrishi]
Notes:
The Government of India has set up a Panel for assessment of relief to borrowers.
It is a 3-member panel headed by Rajiv Mehrishi, who is the former Comptroller and Auditor General of India. The panel will measure the impact of the pandemic related restrictions on Indian economy and also study the viability of waiving interest on interest on the pandemic-related moratorium.
38. India has lifted the ban of which commodity, that was contracted by importers of Bangladesh?
[A] Sugar
[B] Onion
[C] Jute
[D] Cotton
Show Answer
Correct Answer: B [Onion]
Notes:
Directorate General of Foreign Trade (DGFT) has recently lifted the ban of movement of onion supplies, that were already contracted for by the importers of Bangladesh.
Earlier, the DGFT banned all exports of Onion following shortage and sudden increase in prices in the domestic market. After Bangladesh had formally complained about the exports of the commodity, India has lifted the ban.
39. As per the recent announcement of the RBI, which service is to be made available round the clock from December 2020?
[A] NEFT
[B] RTGS
[C] IMPS
[D] BBPS
Show Answer
Correct Answer: B [RTGS]
Notes:
Reserve Bank of India Governor Shaktikanta Das announced that Real Time Gross Settlement (RTGS) payment system will be available round the clock from December 2020.
At present, in the RTGS service, customer transactions are allowed from 7am to 6pm only on a working day. The relaxation of time constraints would make online payment more efficient. The minimum amount to be remitted through RTGS is Rs 2 lakhs with no upper ceiling.
40. What is the amount of interest-free festival advance granted by the Union Government, to stimulate demand?
[A] Rs 5000
[B] Rs 10000
[C] Rs 20000
[D] Rs 25000
Show Answer
Correct Answer: B [Rs 10000]
Notes:
The Finance Minister has recently announced a one-time interest-free festival advance of Rs 10000, to all its officers and employees.
The festival advance was discontinued from the 6th Pay Commission for central government employees. But this one-time measure is announced to spur demand in the economy. The advance will be given as a pre-paid Rupay card, which can be spent by March 31, 2021. Cash voucher replacing leave travel concession (LTC) fare was also announced.
