Daily Current Affairs Quiz – 24th & 25th December 2023

This post is also available in: हिन्दी (Hindi)

Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2023 of 24th & 25th 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.

Start Quiz

1) In order to support rooftop solar projects in India, the State Bank of India (SBI) and the World Bank negotiated a Line of Credit (LoC) for how much?

(a) Rs.1200 crores

(b) Rs.1300 crores

(d) Rs.1500 crores

(e) Rs.1800 crores

2) Which government’s e-GRAS site is the supervision of revenue collection under the mandate that Bandhan Bank has received?

(a) Bihar

(b) Assam

(d) Gujarat

(e) Rajasthan

3) The Authority of International Financial Services Centers Forms a Transition Finance Expert Panel. By which year is the committee expected to determine the best practices for transition financing in India and evaluate the trends in the industry?

(a) 2030

(b) 2038

(d) 2040

(e) 2047

4) In order to launch the Axis Bank Privilege Credit Card on the Amex Network, Axis Bank and American Express collaborate. What is the minimum annual net income required to qualify for the card if you’re an Indian resident and a resident of India?

(a) Rs.400000

(b) Rs.200000

(d) Rs.600000

(e) Rs.800000

5) T.U.L.I.P. is a brand-new insurance policy offered by Kotak Mahindra Life Insurance Company. What is “L” in TULIP?

(a) Loan

(b) Linked

(d) Limit

(e) Local

6) How much more was the bank penalized by the RBI when it found “fake and mutilated” notes in the soiled note remittances?

(a) Rs.2550

(b) Rs.2750

(d) Rs.2650

(e) Rs.2850

7) Through the Unified Payments Interface (UPI) QR code, National Pension System (NPS) members are now able to directly deposit their payments under the D-Remit process, thanks to the Pension Fund Regulatory and Development Authority (PFRDA). The D-Remit code contains how many digits?

(a) 12digits

(b) 14digits

(d) 18digits

(e) 16digits

8) A subsidy of 5,228 crore rupees has been provided by the government to encourage the use of 11,53 lakh electric vehicles across the nation by 2023. How many public charging stations for electric vehicles are there in the nation right now?

(a) 142

(b) 148

(d) 146

(e) 140

9) Which state did Union Home Minister Amit Shah lay the groundwork for three projects totaling 3200 crore rupees and launch nine projects worth 368 crore rupees?

(a) Haryana

(b) Chandigarh

(d) Maharashtra

(e) Karnataka

10) The Central government has granted the state tax devolution of ₹72,961 crore. The greatest portion of the ₹72,961.21 crore payment issued has gone to Uttar Pradesh. Which state is currently in second place?

(a) Maharashtra

(b) Bihar

(d) West Bengal

(e) Goa

11) Which city hosted the most recent Global Professional Accountants Convention (GloPAC) where the new CA logo was unveiled?

(a) Mumbai

(b) Pune

(d) Gandhinagar

(e) Chennai

12) In New Delhi, Union Minister Smriti Irani launches the National Program on Anganwadi-cum-Crèches. Which year did the introduction of Palna, a sub-scheme under Mission Shakti that offers child protection and daycare services?

(a) 2014

(b) 2021

(d) 2020

(e) 2022

13) By which year is the implementation of the climate agenda expected to cost several trillion dollars, as stated in the G20 New Delhi Leaders’ Declaration?

(a) 2030

(b) 2038

(d) 2040

(e) 2047

14) Individuals with a total income up to how many lakh, who receive salary income, are required to use ITR-1 (SAHAJ)?

(a) Rs.30lakhs

(b) Rs.40lakhs

(d) Rs.60lakhs

(e) Rs.80lakhs

15) Which national government has decided to implement a carbon border tax beginning in 2027 on particular commodities such as iron, steel, aluminum, ceramics, and cement, in line with the European Union?

(a) USA

(b) China

(d) UK

(e) Russia

16) Which Amendment does the Colorado Supreme Court rule will keep Donald Trump off the state’s ballot for the 2024 presidential election?

(a) Section 2(14)

(b) Section 3(14)

(d) Section 4(14)

(e) Section 6(14)

18) At COP28, which company, along with NASA, unveils the Watsonx.ai AI tool on an open-source platform hugging space?

(a) TCS

(b) Wipro

(d) Accenture

(e) Infosys

19) In New Delhi, Olympic bronze medallist Sakshi Malik declared her retirement from wrestling. In which year did she win a bronze medal at the Commonwealth Championships?

(a)2011

(b) 2012

(d) 2014

(e) 2015

20) On June 1, Good Governance Day is commemorated in remembrance of former prime minister Atal Bihari Vajpayee. Atal Bihari Vajpayee led India as prime minister how many times?

(a) 2

(b) 3

(d) 4

(e) 5

Answers :

1) Answer: B

State Bank of India (SBI) has signed a $165 million (over Rs 1,300 crore) Line of Credit (LoC) with the World Bank for promoting rooftop solar projects in India. The LoC is specifically aimed at supporting grid-connected rooftop solar photovoltaic (PV) projects in both residential and institutional sectors. The SBI has outstanding forex loans of $2.3 billion from various multilateral agencies, including the World Bank, the Asian Development Bank, and Germany’s KfWIn September 2023, SBI announced that it plans to make home loans with rooftop solar installations mandatory for residential projects funded from the bank’s long-term climate action funds drawn down from multilateral agencies.SBI is planning to make it mandatory for builders to make rooftop solar installations if the project is funded from the bank’s green funds. On December 21, 2023 SBI announced it is signing Rs 1,800 crore in LoC with the European Investment Bank (EIB) to support climate action projects in the country. On December 14, SBI signed Rs 630 crore in LoC with German Development Bank KfW to promote solar projects in India.SBI registered a 9.13% growth in consolidated net profit in the September quarter to Rs 16,099.58 crore as against Rs 14,752 crore in the year-ago period.

2) Answer: B

Bandhan Bank has obtained a mandate to oversee revenue collection on the Assam government’s e-GRAS portal. This will enable the people of Assam to make their tax payments as well as non-tax payments through the Government Receipt Accounting System Portal (GRAS). This initiative aims to streamline transactions, making them more accessible and paperless for the people of Assam. Through the Assam e-GRAS portal, a citizen can pay 70 various departments for a range of services offered by them. In the fiscal year 2022-23, the total collection through the Assam e-GRAS portal reached nearly Rs 16,000 crore. Government Receipt Accounting System (GRAS) is a web application, which provides a facility to the citizens, and business community to pay taxes and non-tax receipts to the government electronically. Assam eGRAS provides 24 X 7 facility and the citizens of Assam can generate e-challan for required services and make online payments anytime from anywhere.

3) Answer: E

Committee Composition : The committee, which includes representatives from corporates, banks, standard setters, exchanges, consultants, and think tanks, will be chaired by Dhruba Purkayastha, the India Director for Climate Policy Initiative.Committee’s Mandate : The committee has been tasked to assess the trends in the segment and identify the best practices for transition finance in India by 2047. Responsibilities of the Committee : Along with providing a roadmap and timeline for developing this ecosystem in India’s maiden IFSC, GIFT City, the committee will recommend policy decisions to the government to address taxation, legal, and regulatory affairs.Ongoing Initiatives at IFSC : Several ongoing initiatives towards developing IFSC as the hub for sustainable finance instruments have led to significant issuance. These initiatives have led to the listing of $10.1 billion ESG-labelled debt securities, issuance of more than $700 million in green/sustainable loans, and the setup of an ESG Engagement Fund at IFSC.Impact on India Inc : The additional regulatory and policy measures will help India Inc to fund its transition to net-zero carbon emissions through transition bonds and transition loans.

4) Answer: D

With this partnership, Axis Bank customers can now enjoy the local and global benefits of the American Express network. The Axis Bank Privilege Credit Card on American Express network is packed with a host of attractive benefits such as activation benefit worth Rs 5000 and two complimentary domestic lounge access per calendar quarter. To be eligible for the card, you must be a resident of India with an annual net income of at least Rs 600,000. The joining fee is Rs 1500, but it is free for priority customers. The annual fee of Rs 1500 is reversed on achieving spends of Rs 2.5 lakh in the previous yearOn achieving milestones you can avail vouchers worth Rs 5000 by converting earned EDGE points on achieving spends of 2.5 lakh. Card members can get activation vouchers from marquee merchants on defined spend thresholds on the card, and instant discounts on online merchants including Swiggy, Blinkit and Zomato. It also offers access to a host of local and global benefits like dining discounts, and privileges at hotels and retail outlets around the world, and Card member experiences including pre-ticketing access to sporting and entertainment eventsAxis Privilege Credit Card offers bonus reward points as a welcome benefit, which are redeemable against multi-brand vouchers. Cardholders must make the first transaction within 30 days of card setup to avail of this benefit.

5) Answer: B

Kotak Mahindra Life Insurance Company has introduced a new insurance product known as T.U.L.I.P – Term with Unit Linked Insurance Plan. This is a unit-linked term insurance plan designed to provide life coverage up to 100 times the annual premium, allowing customers to potentially earn returns similar to a unit-linked insurance plan (ULIP).In addition to life coverage, it offers extra protection against critical illnesses and accidental death. Loyalty additions of up to 30% of the fund value, incorporated by the company as part of maturity benefits.Refund of two times the premium allocation charges in the 10th, 11th, 12th, and 13th year.Refund of one to three times the mortality charges from the 11th policy year onward.Flexibility to withdraw funds in case of a financial emergency.Accidental Death Benefit and Critical Illness rider. A choice of eight fund options for investing one’s money. The customers also have the flexibility to withdraw money in case of a financial emergency along with other benefits ranging from accidental death and critical illness rider.T.U.L.I.P offers policyholders the flexibility of selecting from eight fund options that encompass equity, including mid-cap, debt, and hybrid categories. This flexibility empowers individuals to customize their investment strategy based on their risk tolerance and financial objectives.

6) Answer: B

The Bank of Baroda informed, in an exchange filing, that the Reserve Bank of India had imposed a penalty of ₹5 crore on the bank, in light of a shortage in the soiled note remittances. The RBI also imposed an additional penalty of ₹2,750 on the bank after it detected “fake and mutilated” notes in the soiled note remittances. A ‘soiled note’ is a “note which has become dirty due to normal wear and tear and also includes a two-piece note pasted together wherein both the pieces presented belong to the same note and form the entire note with no essential feature missing. Clean Note Policy Mandate : India’s central bank Reserve Bank of India (RBI) imposes these penalties in keeping with a Clean Note Policy, which mandates that a “penalty be levied immediately on detection of shortage in soiled note remittances/chest balances, irrespective of the number of pieces detected.”

7) Answer: C

The D-remit ID, comprising 15 digits, must be added as a beneficiary in internet banking when transferring voluntary contributions from the subscribers’ savings bank accounts. NPS subscribers should be aware that only those who have activated their D-remit ID can utilise QR code-based contributions for NPS. Subscribers can generate a D-remit ID/Virtual ID on the CRAs’ websites. The National Pension System (NPS) has long been a reliable savings avenue for those looking to secure their financial futures. Under the NPS, subscribers make voluntary contributions to their NPS Tier I and II accounts. However, the process of directly depositing these contributions, known as D-Remit or Direct Remittance, has just become more user-friendly. The introduction of QR code – UPI for D-Remit is a positive & revolutionary step towards making NPS contributions more accessible, efficient, and flexible. This initiative by PFRDA empowers NPS subscribers to take control of their retirement savings and benefit from the advantages of systematic investment planning. Under this new mechanism, subscribers will utilise the UPI QR Code to transfer their contributions. It is important to note that the D-Remit virtual account is distinct from the Permanent Retirement Account Number (PRAN). Furthermore, the virtual account numbers differ for Tier I and Tier II NPS accounts and so do the QR codes.

8) Answer: B

The government has given 5,228 crore rupees subsidy to incentivize 11.53 lakh Electric Vehicles in the country in 2023. The government has also sanctioned 800 crore rupees to PSU Oil marketing companies for setting up seven thousand 432 public fast-charging stations across the country. The Ministry of Heavy Industries said that a total of 148 Electronic Vehicles Public Charging Stations are currently working in the country. The Ministry said that the government is committed to providing clean and green public transport in the country. The Ministry said that it is implementing Phase II of the Faster Adoption and Manufacturing Electric Vehicles (FAME-II) scheme to reduce dependence on fossil fuels and address the issue of vehicular emissions.

9) Answer: B

Union Home Minister Amit Shah inaugurated 9 projects worth 368 crore rupees and laid the foundation stone of three projects worth 3200 crore rupees in Chandigarh. He also flagged off the fleet of Chandigarh Police cars worth 3.75 crore rupees and a state-of-the-art police control vehicle ‘Eagle’.The Home Minister also handed over appointment letters to newly recruited 700 constables and 44 ASI in Chandigarh police today and congratulated them. Cyber Operation and Security Centre (CENCOPS) has also been inaugurated. On the next day after the passing of the three new criminal laws by the Parliament, the Union Home Minister reviewed the implementation of the laws today at the Cyber Operation and Security Centre (CENCOPS) in Chandigarh. Union Home Minister and Minister of Cooperation, that by December 2024, the work of infrastructure, software, training of human resources, and complete computerization of courts will be done for implementation of these three laws in all the Union Territories.

10) Answer: B

The Centre has released ₹72,961 crore in the form of tax devolution to States. Out of the ₹72,961.21 crores installment disbursed, the largest share has gone to Uttar Pradesh. Uttar Pradesh is followed by Bihar at ₹7,338.44 crore, Madhya Pradesh at ₹5,727.44 crore and West Bengal ₹5,488.88 crore. Maharashtra’s share is ₹4,608.96 crore, Rajasthan’s share is at ₹4,396.64 crore and Odisha’s at ₹3303.69 croreThe remaining States’ share has been lower than ₹3,000 crore. The remaining States’ share ranged from ₹281.63 crore (Goa) to ₹2,976.10 crore (Tamil Nadu). An installment of ₹ 72,961.21 crore was already released on December 11, 2023. As of now, tax devolution is being administered by the recommendations of 15th Finance Commission chaired by N.K.Singh.As per the recommendations of 15th Finance Commission, states are to be given 41% of the Centre’s divisible tax pool during five years from 2021-22 to 2025-26. The Terms of Reference (ToR) of the 16th Finance Commission has been recently approved by the Union Cabinet. The 16th Finance Commission would submit its report for the five-year period (2026-27 to 2030-31). It would submit its report to the President by October 31, 2025.

Confidence for UK Industry: The carbon border tax is expected to instill confidence in the UK industry to invest in decarbonization efforts, aligning with the country’s commitment to environmental sustainability.India’s Opposition to EU’s CBAM: India has expressed opposition to the European Union’s carbon border adjustment mechanism (CBAM) and has formally protested at the World Trade Organization (WTO).WTO Rules and UN Framework Argument: India contends that the EU’s CBAM goes against the differentiated approach for developing countries and is inconsistent with the rules of the WTO and the United Nations framework.Trade Dispute: The dispute at the WTO reflects tensions over the perceived fairness and compatibility of carbon border measures with established international trade regulations.Global Policy Landscape: The UK’s adoption of a carbon border tax aligns with a global trend of countries exploring mechanisms to address carbon emissions in international trade.

16) Answer: B

Basis of Disqualification: The Colorado Supreme Court cited Section Three of the Fourteenth Amendment to the United States Constitution as the grounds for disqualifying Trump from holding the office of President. Section Three of the Fourteenth Amendment: The court’s ruling is based on Section Three of the Fourteenth Amendment, which states that individuals who participated in an insurrection or rebellion are ineligible to hold public office.January 6, 2021 Attacks: The court’s judgment is connected to Trump’s alleged involvement in the January 6, 2021, attacks on the US Capitol by his supporters during the certification of the Electoral College results.Contestation by Trump: Donald Trump has expressed his intention to contest the ruling. The case is anticipated to be elevated to the United States Supreme Court for further legal consideration. Unprecedented Application of Section Three: This marks the first instance where Section Three of the Fourteenth Amendment has been invoked concerning a former President.Limited Impact on Electoral Prospects: Even if the U.S. The Supreme Court upholds the Colorado judgement, it would only prevent Trump from being included in the ballot in Colorado for the 2024 election. The ruling is not perceived as significantly detrimental to Trump’s overall electoral chances, particularly as Colorado traditionally leans toward the Democratic party. Historical Context: The application of Section Three of the Fourteenth Amendment in this case is described as a rare occurrence, highlighting the unique circumstances surrounding the events of January 6, 2021

17) Answer: D

BRAHMA-2D (Braided River Aid: Hydro-Morphological Analyzer) is a mathematical model to gauge the flow of large braided rivers like the Brahmaputra. It is a quasi-3D river flow model that helps to understand how fast the water moves at different depths inside a river and its circulation around a structure like a spur installed to prevent river bank erosion. It can help engineers in the design of sustainable hydraulic structures like spurs, reverent, and other river bank protection measures in order to check river bank erosion. It was developed by the researchers at IIT Guwahati in collaboration with the Brahmaputra Board under the Union Ministry of Jal Shakti. It was successfully validated on the Brahmaputra River near Majuli Island, the second largest freshwater River Island in the world, in Assam, which is prone to river bank erosion. It integrates a two-dimensional model of water movement with a theory about entropy, a measure of disorder or randomness. Specifically, it observes a dip phenomenon near spurs where the flow of water underneath increases, a phenomenon absent at points away from these structures.

18) Answer: C

At COP28, the National Aeronautics and Space Administration (NASA) and International Business Machines Corporation (IBM) announced that an Artificial Intelligence (AI) tool called watsonx.ai would be available on the open-source AI platform Hugging Space. It is an Artificial Intelligence tool jointly built by IBM and NASA. It will help users monitor the Earth from space, measuring environmental changes that have already happened while also making predictions about the future. The model is also designed to be extremely simple to use. A user would merely need to select a location and a date, and the model will highlight changes in floodwater, reforestation efforts and other relevant factors. It is built on a foundation model -it’s trained on a broad set of uncategorised data allowing the model to apply information about one situation to another. In the case of watsonx.ai, NASA provides the datasets (in terms of satellite images instead of words,) and IBM created the foundation model to interpret them. In order to train the model to comprehend visual sequences that unfold over time, scientists filled in blank areas in each image and asked the model to piece it back together. It is a fit-for-purpose data store optimised for governed data and AI workloads. It is designed to enable enterprises to scale AI workloads by harnessing their entire data landscape. It is an end-to-end toolkit encompassing both data and AI governance. It helps clients create responsible, transparent and explainable AI workflows by providing AI governance capabilities like model management throughout the AI lifecycle.

19) Answer: C

Sakshi Malik last participated in the Commonwealth Games in 2022 in Birmingham. The Indian wrestler won the gold medal in the women’s 62 kg category but has not participated in international events since then. Sakshi was born on 3 September 1992 in the Rohtak district of Haryana. At the age of just 17, she won a silver medal in the 59 kg freestyle at the 2009 Asian Junior World Championships, followed by a bronze medal at the 2010 World Junior Championships. She won a bronze medal at the 2013 Commonwealth Championships. Sakshi Malik played her first Commonwealth Games in Glasgow in 2013 and won a silver medal in the 58 kg finalSakshi Malik won six medals at the Senior Asian Championships – three silver and three bronze. She emerged from the shadows of Geeta Phogat to qualify for the Rio 2016 Olympics and clinched the bronze medal on her Games’ debut. It was India’s first Olympic medal won by a female wrestler.

20) Answer: B

Good Governance Day 2023 is observed on the 25th of December 2023. Good Governance Day 2023 is observed for the birth anniversary of Former prime minister Atal Bihari Vajpayee. Atal Bihari Vajpayee, a former prime minister, and Pandit Madan Mohan Malaviya were both named as recipients of the Bharat Ratna, the country’s highest civilian honor, on December 23, 2014. Following the declaration, the newly-elected Prime Minister Narendra Modi declared that December 25 would be observed as Good Governance Day. Three times, Atal Bihari Vajpayee led India as prime minister. In 1996, his first term lasted just 13 days. He completed his second term from 1999 to 2004 after serving it for a total of thirteen months from March 1998 to April 1999. In 1962, he made his debut appearance in the Rajya Sabha. He won seven elections for the Lok Sabha. Mr. Vajpayee received the Bharat Ratna, the highest civilian honor in India, in 2015.

11 months ago

Daily Current Affairs Quiz – 24th & 25th December 2023

Related Post