Current Affairs Quiz - July 2022

Notes:
The Goods and Services Tax (GST) Council has Union Finance Minister as chairperson, the Union Minister of State (Finance) from the Centre. Each state can nominate a minister in-charge as a member.
The two-day meeting of the 47th Goods and Services Tax (GST) Council was recently held in Chandigarh. The Council agreed to levy 18 per cent tax on cheques, lose or in book form. Hotel accommodations below Rs 1,000 will be taxed at 12 per cent among other changes.

Notes:
India’s largest floating Solar Power Project is made fully operational at Ramagundam, Telangana. NTPC declared Commercial Operation of the final part capacity out of 100 MW Ramagundam Floating Solar PV Project at Ramagundam, Telangana
With the operationalisation the project, the total commercial operation of Floating Solar Capacity in Southern Region rose to 217 MW. Earlier, NTPC declared operation of Floating Solar at Kayamkulam (Kerala) and at Simhadri (Andhra Pradesh).

Notes:
Finance Minister Nirmala Sitharaman released the ‘Business Reforms Action Plan (BRAP), 2020’. Andhra Pradesh has topped the Business Reform Action Plan 2020 Rankings in the Ease of Doing Business.
It is followed by Gujarat, Haryana, Karnataka, Punjab, Telangana and Tamil Nadu. The BRAP 2020 includes 301 reform points covering 15 business regulatory areas such as Access to Information, Single Window System, Labour, Environment, Land Administration etc.

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:
T Raja Kumar of Singapore has been appointed as the president of Financial Action Task Force (FATF), the anti-money laundering watchdog.
He has replaced Marcus Pleyer and will discharge his service for next two years. As per FATF, the President will focus on enhancing the effectiveness of global anti-money laundering  and counter-terrorist financing measures, improving asset recovery and other initiatives.

Notes:
In the QS Best Student Cities Ranking 2023, London has been ranked as the best city for students looking to study abroad.
Seoul and Munich are at the second place. The report ranks 140 cities in terms of affordability, student facilities, and university standard among other factors. India’s highest-ranked student city is Mumbai at 103 spot. It is followed by Bengaluru at 114th rank.

Notes:
Tamil Nadu and the Singapore-based IGSS Ventures signed a MoU, for establishing a 300-acre semiconductor high-tech park and a semiconductor fab unit in the State.
The company will invest Rs 25,600 crore in the project in the next five years, generating direct employment for 1,500 people. The MoU was signed with ‘Guidance’, the State’s nodal agency for investment promotion and single-window facilitation.

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:
The Youth World champions Alfiya Pathan and Gitika won gold medals in the Elorda Cup in Kazakhstan’s capital Nur-Sultan.
India’s other two female boxers Kalaivani Srinivasan and Jamuna Boro finished with silver medals. It was also the debut senior international event for both the young players, Alfiya and Gitika.

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.