Current Affairs Quiz - July 2022

Notes:
GST Day is celebrated on July 1 to mark completion of five years of Goods & Services Tax. It was introduced in 2017, with the idea of “One Nation- One Market- One Tax”.
GST is a multi-stage, indirect consumption-based tax system that subsumed a set of domestic indirect taxes such as service tax, value-added tax, purchase tax, excise duty among others.

Notes:
The PSLV Orbital Experimental Module is a platform which is used to perform in-orbit experiments using the final stage of ISRO’s Polar Satellite Launch Vehicle (PSLV).
In the PSLV rocket, first three stages fall back into the ocean and the final stage (PS4) ends up as space junk, after launching the satellite into orbit.  POEM has a Navigation Guidance and Control (NGC) system for attitude stabilisation.

Notes:
The government has approved the issuance of 21st phase of sale of electoral bonds through authorised SBI branches from July 1.
State Bank of India (SBI) is the only authorised institution to issue and encash Electoral Bonds through its 29 Authorized Branches. The Electoral bonds are interest-free bearer instruments, which can be encashed by the party through a Bank account within 15 days.

Notes:
Reserve Bank of India (RBI) recently released its financial stability report for June 2022. It is a half-yearly publication.
As per the recent report, Gross non-performing asset (NPA) ratio of banks fell to six-year low of 5.9% in March 2022 while the net non-performing assets (NNPA) ratio fell to 1.7% in March 2022. Capital to Risk Weighted Assets Ratio (CRAR) and Common Equity Tier 1 (CET-1) Ratio of SCBs were 16.7% and 13.6%, respectively, in March 2022.

Notes:
The Advertising Standards Council of India (ASCI) is the voluntary self-regulatory body in advertising sector in India.
As per the annual complaints report, Education, healthcare and personal care are the most violative categories of advertisements. It processed 7,631 complaints at an increase of 25 per cent from last year.

Notes:
NITI Aayog and World Food Programme (WFP) have launched a report titled ‘Take Home Ration-Good Practices across the State/Union Territories’.
The report presents a set of good and innovative practices adopted in the implementation of the Take Home Ration (THR) value chain by the States and UTs. Take Home Ration has been provided in Indian under the Supplementary Nutrition component of the Integrated Child Development Services (ICDS).

 

Notes:
The Central government has made seven amendments to existing rules of the Foreign Contribution (Regulation) Act (FCRA) rules 2011.
According to the notification by Ministry of Home Affairs, the Ministry can suspend the FCRA registration initially for 180 days, on inspection of accounts and on receiving any adverse input against the functioning of an association.

Notes:
Kerala Health Minsitry confirmed the presence of Anthrax, after several wild boars contracted the infectious disease in Athirappilly of Thrissur district.
Anthrax, also known as malignant pustule or woolsorter’s disease, is a disease caused by the rod-shaped bacteria known as Bacillus anthracis. Anthrax is a zoonotic disease, as it is naturally transmissible from animals to humans.

Notes:
The Central Consumer Protection Authority (CCPA) has barred hotels and restaurants from adding service charge ‘automatically or by default’ in the food bill.
The consumer may lodge a complaint on the National Consumer Helpline (NCH) 1915 or through the NCH mobile application, as per the Union Ministry of Consumer Affairs, Food and Public Distribution

Notes:
Union Food Minister Piyush Goyal released the first State Ranking Index for implementation of the National Food Security Act, 2013. The states and UTs were ranked based on three parameters for the year 2022.
Among the 20 big states and Union Territories (UTs), Odisha topped the index followed by Uttar Pradesh and Andhra Pradesh, while Goa was at the last. Tripura ranked first and Ladakh was at the last among the 14 smaller states and UTs.