Daily Current Affairs Quiz - 12th December 2023

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 12th December 2023. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2023 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) How many times in a row did the Monetary Policy Committee (MPC) of the Reserve Bank of India maintain the repo rate at 6.5%?

(a) 4

(b) 5

(c) 3

(d) 2

(e) 1


2) In UPI, how many lakh transactions for recurring payments of credit card repayments, insurance premium subscriptions, and mutual fund subscriptions will be exempt from the requirement for an additional factor of authentication (AFA)?

(a) Rs.2 lakhs

(b) Rs.3 lakhs

(c) Rs.1 lakh

(d) Rs.4 lakhs

(e) Rs.5 lakhs


3) The RBI will create a regulatory framework to supervise loan aggregators. Which year did the RBI approve the recommendations?  

(a) 2020

(b) 2018

(c) 2022

(d) 2023

(e) 2021


4) By which year is the Reserve Bank Innovation Hub expected to operationalize the repository linked to the cloud facility?

(a) 2028

(b) 2025

(c) 2024

(d) 2026

(e) 2027


5) On weekends and holidays, the RBI permits the reversal of liquidity facilities under the Standing Deposit Facility and Marginal Standing Facility (MSF). What percentage of qualified entities can obtain overnight funding under MSF?

(a) 6.75%

(b) 6.65%

(c) 6.55%

(d) 6.45%

(e) 6.30%


6) What percentage of the banking system's insured deposits to assessable deposits decreased to 46.31% in FY2023 from FY2022?

(a) 47%

(b) 48%

(c) 49%

(d) 51%

(e) 53%


7) Which WAIPA World Investment Conference edition would be held in India for four days?

(a) 25th

(b) 27th

(c) 29th

(d) 23rd

(e) 28th


8) Over the next seven years, India plans to spend 57 lakh crore rupees on climate change adaptation. Which country is home to the  UNFCCC secretariat?

(a) Australia

(b) UK

(c) Germany

(d) Singapore

(e) USA


9) Which year was the centrally supported PM Formalization of Micro Food Processing Enterprises (PMFME) Scheme introduced?

(a) 2023

(b) 2019

(c) 2020

(d) 2022

(e) 2021


10) Under what name is the Jammu Student-Led National Movement for Energy Conservation wave launched?

(a) 4S

(b) 4E

(c) 4P

(d) 4B

(e) 4A


11) Which year did the government of Finland join NATO?

(a) 2023

(b) 2019

(c) 2020

(d) 2022

(e) 2021


12) The initial date of Argentina's admission to the BRICS group of emerging economies—January 1, 2024—has been rescheduled. The goal of the action was to make the bloc into an alliance of how many nations?

(a) 10

(b) 11

(c) 13

(d) 9

(e) 15


13) Which government initiated the ₹10 lakh Rajiv Aarogyasri Scheme and the Maha Lakshmi Scheme?

(a) Kerala

(b) Andhra Pradesh

(c) Tripura

(d) West Bengal

(e) Telangana


14) UAE's Mohammed Al Ramsi has been appointed Chairman of the World Radiocommunication Conference (WRC) 2023. Which year, during the WRC's most recent session in Sharm El Sheikh, Egypt, did the WRC decide to make this appointment?

(a) 2023

(b) 2019

(c) 2020

(d) 2022

(e) 2021


15) Kesoram's cement business will be acquired by UltraTech in a deal. Which state and Karnataka are home to the two integrated cement facilities that make up the cement business?

(a)  Kerala

(b) Andhra Pradesh

(c) Tripura

(d) West Bengal

(e) Telangana


16) The Mississippi River Cities and Towns Initiative (MRCTI) is a coalition of how many American cities/towns bordering the Mississippi River?

(a) 122

(b) 120

(c) 124

(d) 126

(e) 128


17) At the present COP28 in Dubai, the Climate Change Performance Index (CCPI) 2024 was unveiled. What is India's rank?

(a) 6th

(b) 5th

(c) 3rd

(d) 4th

(e) 7th


18) Which sport was Ashwini Ponnappa associated with?

(a) Athletics

(b) Badminton

(c) TableTennis

(d) Archery

(e) Shooting


19) Which year did German Chancellor Otto von Bismarck create the first healthcare system?

(a) 1880

(b) 1882

(c) 1883

(d) 1889

(e) 1885


20) Kanam Rajendran, the 73-year-old state secretary of the ruling Communist Party of India (Marxist), passed suddenly. Which state is he from?

(a)  Kerala

(b) Andhra Pradesh

(c) Tripura

(d) West Bengal

(e) Telangana


Answers :

1) Answer: B

The Reserve Bank of India's Monetary Policy Committee (MPC) kept the repo rate unchanged for the fifth time in a row at 6.5%The real GDP growth projection for the fiscal year 2023-24 has been revised upward to 7% from the previous estimate of 6.5%.The inflation forecast for the fiscal year 2023-24 remains unchanged at 5.4%. The policy repo rate under the liquidity adjustment facility (LAF) has been kept steady at 6.50%The standing deposit facility (SDF) rate is maintained at 6.25%, and the marginal standing facility (MSF) rate, along with the Bank Rate, remains at 6.75%. Despite a general easing in core inflation, the RBI highlights persistent risks in food inflation.


2) Answer: C

The RBI has also proposed to enhance the limits of e-mandates for recurring online transactions to Rs 1 lakh per transaction from Rs 15,000 per transaction for mutual fund subscriptions, insurance premium subscriptions, and credit card repayments. The transaction limit for UPI payments for capital markets (AMC, broking, mutual funds, etc.), collections (credit card payments, loan repayments, EMI), insurance, etc. was limited to Rs 2 lakh. In December 2021, the transaction limit for UPI payments for Retail Direct Scheme and IPO subscriptions was increased to Rs 5 lakh. Another announcement regarding UPI which was made was that no additional factor of authentication (AFA) will be required for transactions of Rs 1 lakh for recurring payments of mutual fund subscriptions, insurance premium subscriptions and credit card repayments


3) Answer: C

The Reserve Bank of India (RBI) announced that it will soon release a regulatory framework aimed at overseeing web-based loan comparison platforms known as web-aggregators of loan products (WALP). The decision to establish a regulatory framework is based on the recommendations of the Working Group on Digital Lending, chaired by Jayant Kumar Dash. The recommendations were accepted by the RBI in August 2022. The digital lending ecosystem comprises services that aggregate loan offers from lenders (called web-aggregation of loan products) for the guidance of customers. Several concerns relating to the web aggregation of loan products harming consumers’ interest have come to our notice.


4) Answer: C

The Reserve Bank of India (RBI) is actively working on establishing a dedicated cloud facility for the financial sector in India. The cloud facility will be set up and initially operated by Indian Financial Technology & Allied Services (IFTAS), a wholly-owned subsidiary of RBI. Over time, the cloud facility will be transitioned to a separate entity, with ownership vested in financial sector participants. This move aims to promote independence and collaboration within the sector. The implementation of the cloud facility is planned to occur in a phased and calibrated fashion over the medium term, ensuring a systematic and controlled deployment. The Reserve Bank Innovation Hub is set to operationalize the repository associated with the cloud facility by April 2024, indicating a specific timeline for the project's completion


5) Answer: A

At present, the standing facilities of the Reserve Bank under the LAF (liquidity adjustment facility) – the SDF and the MSF – can be availed from 17:30 hours to 23:59 hours on all days including weekends and holidays. However, the reversal of the facilities – withdrawal of deposited funds for SDF and repayment of borrowed funds for MSF – for the transactions over the weekends and holidays, is available only on the next working day in Mumbai. The LAF corridor is symmetric around the policy repo rate (of 6.50%), with the MSF rate (of 6.75%) as the ceiling and the SDF rate (of 6.25%) as the floor. Under SDF, eligible entities can place deposits with the RBI on an overnight basis and earn 6.25% interest. Under MSF, eligible entities can avail of overnight funds at 6.75%.


6) Answer: C

The ratio of insured deposits to assessable deposits in the banking system declined to 46.31% in FY2023 from 49% in FY2022 as customers, lured by attractive deposit rates, placed larger deposits (over and above the Rs 5 lakh deposit insurance cover) with banks, going by latest Deposit Insurance and Credit Guarantee Corporation (DICGC) data. This means that bank customers preferred to place larger quantum (Rs 5 lakh and above) of deposits (accounting for 53.69% of the deposits by value), which remained uninsured. In the preceding year, 51% of the deposits were uninsured. Deposit insurance cover is available on deposits up to Rs 5 lakh.


7) Answer: B

India will host a four-day 27th WAIPA World Investment Conference in New Delhi. National Investment Promotion and Facilitation Agency of the Government of India, and the World Association of Investment Promotion Agencies are organizing the conference at the India International Convention & Expo Centre - Yashobhoomi, New Delhi. Under the aegis of the Department for Promotion of Industry and Internal Trade, it will be the largest World Investment Conference ever.
Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal will deliver the keynote address on the Role of Trade and Investment in the Decade of Action.


8) Answer: C

India spent about Rs 13.35 lakh crore in 2021-22, just over 5.5% of its GDP, on climate adaptation and expects to incur another Rs 57 lakh crore over the next seven years for this purpose. But this is only in the business-as-usual scenario, that is only if climate vulnerability does not deteriorate during this period. Climate-induced damage could escalate this amount by another Rs 15.5 lakh crore. The Central government informed the UN Framework for Climate Change Convention (UNFCCC), recently. The UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting the global response to the threat of climate change. The secretariat is located in Bonn, Germany.


9) Answer: C

PM Formalisation of Micro Food Processing Enterprises (PMFME) Scheme is a centrally sponsored scheme launched in 2020. The scheme is operational for a period of five years from 2020-21 to 2024-25 with an outlay of Rs. 10,000 Crore for supporting 2 lakh micro food processing enterprises. Funding: 90:10 ratios with North Eastern and Himalayan States. 60:40 ratios with UTs with the legislature, and 100% by Centre for other UTs.60:40 ratios between Central and State Governments for other states. Under this scheme, micro-enterprises will get credit-linked subsidies at 35% of the eligible project cost with a ceiling of Rs.10 lakh. Nodal Ministry: Ministry of Food Processing Industries.


10) Answer: B

4E Wave has been launched by Union Minister for Power and New & Renewable Energy Shri R. K. Singh. It is a student-led National Movement for Energy Conservation. It was launched in the presence of Lieutenant Governor of Jammu & Kashmir Shri Manoj Sinha. The movement aims to raise awareness of energy conservation among communities and individuals, as well as to encourage sustainable activities.4E Wave comprises four essential components. Eco-friendliness, economy, education, and empowerment are these components. It's a youth-led initiative that encourages people throughout the country to support energy conservation.


11) Answer: A

Sweden signed a defence cooperation agreement with the United States in Washington. US Secretary of State, Lloyd Austin, remarked that by adding the capabilities of the Swedish armed forces to NATO, will make them stronger. It will allow the US to access all of the military bases in the Scandinavian country that is about to join the trans-Atlantic security alliance, the North Atlantic Treaty Organization (NATO). The US struck a similar deal with Sweden’s neighbour, Norway, in 2021 and is currently negotiating such an agreement with two other Nordic countries, Finland and Denmark. Sweden and Finland decided to drop their long-standing policy of non-alignment and apply for NATO membership following Russia’s full-scale invasion of Ukraine last year. Finland joined NATO in April 2023.


12) Answer: B

Argentina's entry into the BRICS bloc of developing economies, originally scheduled for January 1, 2024, has been postponed. The decision is seen as a precursor to a significant foreign policy shift in Argentina under the leadership of right-wing populist Mr. Milei, indicating potential changes in diplomatic priorities. Argentina was one of six countries invited in August to join BRICS, comprising Brazil, Russia, India, China, and South Africa. The move aimed to expand the bloc to an 11-nation alliance. Initially, President Alberto Fernández expressed enthusiasm about the invitation, believing it would open up new markets for Argentina. BRICS, initially formed by Brazil, Russia, India, and China in 2009, expanded with the inclusion of South Africa in 2010.


13) Answer: E

Chief Minister of Telangana, A. Revanth Reddy launched Maha Lakshmi Scheme and Rajiv Aarogyasri Scheme enhanced to ₹10 lakh in Hyderabad. These two are among the six guarantees of Congress. The scheme allows girls, women, and transgender persons of all ages, domiciled in Telangana, to travel free of cost in TSRTC buses. As for travel in inter-State buses, free travel facilities would be applicable up to the borders of the State. The Rajiv Arogyasri Scheme provides financial protection to families living below the poverty line. It offers up to ₹10 lakhs in a year for the treatment of serious ailments requiring hospitalisation and surgery and also financial coverage up to ₹10 lakhs for high-end procedures, according to the Rajiv Aarogyasri Health Care Trust.


14) Answer: B

The United Arab Emirates’s (UAE) Mohammed Al Ramsi was appointed as the Chairman of the World Radiocommunication Conference (WRC) 2023. This appointment marks the fulfilment of the decision taken by the WRC during its last session in Sharm El Sheikh, Egypt in 2019. This conference started from 20th November and will continue till 15th December in Dubai, UAE. This year, more than 4,000 government officials and 900 international organisations from 193 countries are attending the conference. This decision underscores the prominent global position of the UAE, particularly in the ICT sector – a pivotal force driving development across diverse domains. It further attests to the proficiency and capability of the Emiratis in steering and presiding over major international forums and events. As the host of this session, the UAE stands as the sole country globally to have hosted and chaired all conferences and events of the ITU, noting that this is the second occasion the UAE has chaired the WRC, with the initial instance occurring in 2012.


15) Answer: E

UltraTech, part of the Aditya Birla Group, is set to acquire the cement business of Kesoram Industries in an all-stock deal. The estimated enterprise value of the deal is approximately ₹7,600 crore, including the assumption of debt. Demerger of Cement Business: Kesoram Industries, a flagship company of the BK Birla Group, has decided to demerge its cement business. The cement business includes two integrated cement units located in Karnataka and Telangana, boasting a combined installed capacity of 10.75 million tonnes per annum. Integration into UltraTech Cement: As per the deal, the demerged cement business from Kesoram Industries will be integrated into UltraTech Cement.UltraTech Cement is the flagship company in the cement sector for the Aditya Birla Group, led by Kumar Mangalam Birla.


16) Answer: C

The National Mission for Clean Ganga (NMCG) recently signed a Memorandum of Common Purpose (MoCP) with the Mississippi River Cities and Towns Initiative (MRCTI), which represents 124 cities/towns situated along the banks of the Mississippi River, the United States.This significant agreement positions NMCG a step closer to the imminent launch of the Global River Cities Alliance (GRCA), as the current River Cities Alliance (RCA) has now expanded its strength to the membership of 267 global river-cities including India, USA and Denmark. The official launch of GRCA is scheduled with expectations of additional global river-cities joining the global alliance. It acted as the implementation arm of the National Ganga River Basin Authority (NGRBA), which was constituted under the provisions of the Environment (Protection) Act (EPA), 1986.


17) Answer: E

The Climate Change Performance Index (CCPI) 2024 was released on the sidelines of the ongoing COP28 in Dubai. India ranked 7th in this year’s Climate Change Performance Index, up one spot from the previous one.CCPI is a scoring system that measures the climate protection performance of countries. It was first published in 2005.   It is designed to improve transparency in international climate politics. The CCPI uses a standardized framework to compare the climate performance of 63 countries and the EU, which together account for over 90% of global greenhouse gas emissionsThe CCPI assesses each country’s performance in four categories: Greenhouse Gas (GHG) Emissions (40%), Renewable Energy(20%), Energy Use(20%), Climate Policy (20%).


18) Answer: B

India’s Ashwini Ponnappa and Tanisha Crasto won the women’s doubles title at the Guwahati Masters 2023 badminton tournament. Ashwini Ponnappa and Tanisha Crasto, the second seeds at the BWF Super 100 tournament, beat Taipei’s Sung Shuo Yun and Yu Chien Hui 21-13, 21-19 to win what was their second title as a pair. Results at the Guwahati Masters 2023 badminton tournament will count towards players’ qualifying rankings for the Paris 2024 Olympics. The Indian badminton duo won the Abu Dhabi Masters Super 100 tourney earlier this year. Ashwini Ponnappa and Tanisha Crasto also made the final of the Syed Modi International Super 300 tournament last week in Lucknow but lost the title decider to Japan’s Rin Iwanaga and Kie Nakanishi.


19) Answer: C

Universal Health Coverage Day 2023 is observed on the 12th of December 2023. The first healthcare system was established by a German named Chancellor Otto von Bismarck in 1883. The insurance model called the ‘Bismarckian system’, required everyone to have insurance for their medical expenses, which was similar to the current-day non-profit health insurance companies. Universal Health Coverage Day was originally promoted by the World Health Organization. The World Health Organization is part of the United Nations and is responsible for international public health. In December 2012, the United Nations General Assembly approved a resolution demanding countries to fast-forward universal healthcare progression


20) Answer: A

The state secretary of the ruling Communist Party of India (Marxist) Kanam Rajendran passed away at the age of 73 in Kochi, Kerala. Kanam Rajendran was born on 10 November 1950 in Koottikkal village of Kerala's Kottayam district. He entered politics at a tender age and became the state secretary of the Communist Party of India’s (CPI's) youth wing All India Youth Front (AIYF) at 23. He represented Vazhoor constituency in the Kerala Legislative Assembly from 1982 to 1991. In March 2015, he was elected the Secretary of the Communist Party of India Kerala State Council. He was serving as the national executive and central secretariat member of the party. Leadership and Contributions : He is a two-time MLA, well-known trade unionist and an accomplished organizer.   He was considered as one of the strongest leaders of the ruling Left Democratic Front after Chief Minister Vijayan.

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