Current Affairs Quiz - August, 2022
31. What is the repo rate after the August 2022 Monetary policy committee (MPC) Meeting?
[A] 5.0 %
[B] 5.2 %
[C] 5.4 %
[D] 5.75 %
Show Answer
Correct Answer: C [5.4 %]
Notes:
Reserve Bank of India (RBI) Governor Shaktikanta Das-chaired Monetary Policy Committee (MPC) raised the repo rate by 50 basis points (bps) to 5.40 percent.
The decision was taken to tame persisting high inflation. After the decision, the repo rate is above pre-pandemic levels of 5.15 percent. The overall rate hike in three successive policy meets has gone to 140 basis points.
32. As per the CBIC notification, what is the minimum limit of turn-over for mandatory e-invoicing, from October 1, 2022?
[A] Rs 5 crore
[B] Rs 10 crore
[C] Rs 50 crore
[D] Rs 100 crore
Show Answer
Correct Answer: B [Rs 10 crore]
Notes:
The goods and services tax (GST) e-invoicing will be mandatory for firms with a turnover of over Rs 10 crore from October 1, as per the Central Board of Indirect Taxes and Customs.
The current threshold is Rs 20 crores. E-invoicing for business-to-business (B2B) transactions started with a threshold of turnover of over Rs 500 crore, from October 1, 2020. It was gradually reduced.
33. Which state government has partnered with LinkedIn to boost employability skills of its students?
[A] Tamil Nadu
[B] Kerala
[C] Telangana
[D] Odisha
Show Answer
Correct Answer: B [Kerala]
Notes:
Kerala Development and Innovation Strategic Council (K-DISC) has partnered with LinkedIn, the world’s largest professional network.
This was launched as part of the Connect Career to Campus (CCC) campaign under the Kerala Knowledge Economy Mission (KKEM) initiative. This partnership aims to boost the employability skill among the youth of Kerala.
34. Which country leads the Minerals Security Partnership (MSP)?
[A] China
[B] Japan
[C] USA
[D] India
Show Answer
Correct Answer: C [USA]
Notes:
A new US-led partnership initiative of 11 nations which was recently formed, aims to bolster critical mineral supply chains.
The Minerals Security Partnership (MSP) focusses on the supply chains of minerals such as Cobalt, Nickel, Lithium and 17 ‘rare earth’ minerals. The alliance is seen as primarily focused on an alternative to China.
35. Which U.S state electorally rejected the ‘Value Them Both Amendment’?
[A] Kansas
[B] Hawaii
[C] Georgia
[D] Texas
Show Answer
Correct Answer: A [Kansas]
Notes:
In the U.S state of Kansas, the voters rejected the ‘Value Them Both Amendment’ that sought to remove legal protections for abortion from the state’s constitution.
This was the first time the American public electorally responded to the landmark decision of the Supreme Court, as a record 9 lakh Kansans turned out to vote.
36. Which Union Ministry launched the ‘Grand Onion Challenge’?
[A] Union Agriculture Ministry
[B] Union Consumer Affairs Ministry
[C] Union MSME Ministry
[D] Union Commerce and Industry Ministry
Show Answer
Correct Answer: B [Union Consumer Affairs Ministry]
Notes:
The Department of Consumer Affairs recently launched the ‘Grand Onion Challenge’.
The challenge seeks ideas from young professionals, professors and scientists for designs and for improving pre-harvesting techniques, primary processing, storage, and transportation of post harvested onions in the country.
37. What is India’s new target year to eliminate Kala-azar?
[A] 2023
[B] 2025
[C] 2027
[D] 2030
Show Answer
Correct Answer: A [2023]
Notes:
The Government has set the target to eliminate Kala-azar by 2023 from the country. In a written reply in Lok Sabha given by the Union Health Minister, out of 633 Kala-azar endemic blocks, 625 blocks have achieved the elimination target last year.
The World Health Organisation (WHO) Neglected Tropical Diseases Road map has set the target for Kala-azar elimination as 2030.
38. Which institution operates the ‘Bharat Bill Payment System (BBPS)’?
[A] Reserve Bank of India
[B] National Payments Corporation of India
[C] Department of Financial Services
[D] Department of Indirect Taxation
Show Answer
Correct Answer: B [National Payments Corporation of India]
Notes:
The Reserve Bank of India (RBI) recently announced that the ‘Bharat Bill Payment System (BBPS)’ will be enabled to accept cross-border inward payments in India.
This will aid Non-Resident Indians (NRIs) to make bill payments for utility, education and other such payments on behalf of their families in India.
39. Who is the head of the SEBI Expert Group of Foreign Portfolio Investors (FPIs)?
[A] K V Kamath
[B] K V Subramanian
[C] Viral Acharya
[D] Arvind Subramaniam
Show Answer
Correct Answer: B [K V Subramanian]
Notes:
The Securities and Exchange Board of India (SEBI) has constituted an expert group of Foreign Portfolio Investors (FPIs) to review investment avenues available for FPIs and advise on the feasibility of new avenues.
The FPI Advisory Committee (FAC) will be chaired by former Chief Economic Adviser KV Subramanian. It and consists of 14 other members from foreign banks, stock exchanges depositories and the Reserve Bank of India.
40. Which Indian Armed Force conducted a large-scale exercise named ‘Skylight’?
[A] Indian Air Force
[B] Indian Navy
[C] Indian Army
[D] Indian Coast Guard
Show Answer
Correct Answer: C [Indian Army]
Notes:
The Indian Army conducted the first of its kind large-scale exercise codenamed ‘Skylight’ to boost its space domain capabilities.
The aim of the exercise was to test operational readiness of satellite communication assets and training of personnel operating the assts. The exercise was organised across the country and all satellite communication assets of the Indian Army were activated. Agencies responsible for space and ground segments and ISRO took part in the exercise.
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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