AffairsCloud brings you the complete and important daily Current Affairs Quiz 31 December 2023 to achieve more marks in Banking, Insurance, UPSC, SSC, CLAT, Railways and all other competitive Exams. We have prepared the current affairs quiz question from our daily current affairs 2023 updates.
Our Current Affairs December 2023 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.
- According to the recent data (as of Dec ‘23) from the National Stock Exchange (NSE), which state tops the list of states with the highest number of registered investors?
1) West Bengal
2) Gujarat
3) Maharashtra
4) Uttar Pradesh
5) KarnatakaAnswer-3) Maharashtra
Explanation:
According to recent data from the National Stock Exchange (NSE), Maharashtra tops the list of states with the highest number of registered investors. Maharashtra registered a growth of 16.9% with over 1.48 crore registered investors.
Uttar Pradesh (UP), with 89.47 lakh investors, has surpassed Gujarat (76.68 lakh) and secured the 2nd position on the list.
As of December 25, 2023, the total count of investors across India was 8.49 crore, which is a hike of 22.4% from last year. The count stood at 6.94 crore on 31st December 2022.
The total count of investors in India increased from around 7 crore to 8 crore in the past 8 months.
i. For the first time, the market capitalization of listed companies on the NSE has surpassed the USD 4 trillion (Rs 334.72 trillion) mark, as of December 29, 2023, it stood at USD 4.32 trillion .
At present, India is ranked 4th in the world in terms of market capitalisation, following the United States of America(USA), China and Japan.
Reliance Industries Limited (RIL) is India’s most valued firm with a market valuation of Rs 17,63,001.81 crore - Which ministry has recently (in Dec ‘23) launched the National Transit Pass System (NTPS), envisioned as a One National One Pass system?
1) Ministry of External Affairs
2) Ministry of Tribal Affairs
3) Ministry of Home Affairs
4) Ministry of Environment, Forest and Climate Change
5) Ministry of Ports, Shipping and WaterwaysAnswer- 4) Ministry of Environment, Forest and Climate Change
Explanation:
Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC) launched the National Transit Pass System (NTPS), envisioned as a One National One Pass system, which will enable seamless transportation of timber, bamboo, and other forest produce across India.
At present, state-specific transit rules govern the issuance of transit permits(TP) of timber and forest produce; NTPS will replace this with a uniform, pan-India approach.
This unified online mode permit system will ease the process of getting TP for tree growers and farmers involved in agroforestry across India.
i. The Union Minister also flagged off the special Pan Indian vehicles carrying forest produce to create awareness about the applicability and ease of using NTPS.
ii. 2 vehicles carrying timber and other forest produce from Gujarat and Jammu & Kashmir (J&K) bound for West Bengal and Tamil Nadu were flagged off during the event. - In December 2023, the Department of Economic Affairs, Ministry of Finance, increased the interest rate on on the Sukanya Samriddhi Account Scheme (SSAS) to _________ from 8% for the 4th quarter (January-March 2024) of 2023-2024 (Q4FY24).
1) 8.1%
2) 8.4%
3) 8.2%
4) 8.3%
5) 8.5%Answer-3) 8.2%
Explanation:
On December 29, 2023, the Department of Economic Affairs-DEA (Budget Division), Ministry of Finance released the interest rates for Small Savings Schemes applicable in the January-March 2024 quarter (Q4FY24) i.e. from January 1, 2024 to March 31, 2024.
As per it, the interest rate on the Sukanya Samriddhi Account Scheme (SSAS) increased by 20 basis points from 8% to 8.2% for Q424.
The interest rate on three-year time deposits also increased by 10 basis points from 7% to 7.1%.
The interest rates for all other small savings schemes will remain unchanged from the rates offered in Q3FY24 (October-December 2023). - Name the Institute/Centre that has recently (in Dec ‘23) launched a Online Voluntary Certification modules of Certificate of Approval (CoA) and Technology Approval under its voluntary certification scheme.
1) National Telecommunications Institute for Policy Research, Innovation & Training
2) Telecommunication Engineering Centre
3) Advanced Level Telecommunication Training Centre
4) National Institute of Communication Finance
5) Bharat Ratna Bhim Rao Ambedkar Institute of Telecom TrainingAnswer-2) Telecommunication Engineering Centre
Explanation:
Telecommunication Engineering Centre (TEC) launched a Online Voluntary Certification modules of Certificate of Approval (CoA) and Technology Approval under its voluntary certification scheme to enhance the Ease of Doing Business and Promote Atmanirbhar Bharat.
TEC is the technical arm of the Department of Telecommunications (DOT) under the Ministry of Communications (MoC) .
The module was launched by A.K.Sahu, Member, Digital Communication Commission (DCC).
i. The online module was developed by Centre for Development of Telematics(C-DOT), a Research and Development(R&D) centre of DOT. - In December 2023, the Reserve Bank of India (RBI) revised the Payments Infrastructure Development Fund (PIDF) scheme and extended the deadline until _________.
1) 31st January 2025
2) 30th April 2024
3) 31st December 2024
4) 30th April 2025
5) 31st December 2025Answer- 5) 31st December 2025
Explanation:
The Reserve Bank of India (RBI) has revised the Payments Infrastructure Development Fund (PIDF) scheme and extended the deadline by two years, i.e., upto December 31, 2025.
The PIDF scheme has been enhanced to increase the scope of beneficiaries and acceptance infrastructure. The enhancements includes,
i. Included Beneficiaries of PM Vishwakarma Scheme as merchants under the PIDF Scheme.
All installations since 17th September 2023(inception of PM Vishwakarma Scheme) may prefer claims under the PIDF scheme.
ii. Sound Box devices and Aadhaar-enabled biometric devices are now eligible to claim subsidy under the scheme.
iii. Irrespective of the device type, the subsidy for devices deployed in special focus areas(North Eastern states; Jammu & Kashmir and Ladakh) has been increased to 90% from 75% of the cost of the device.
Installations made from 1st October 2023 are eligible for subsidy. - Which of the following points is/are “correct” with respect to the Annual Report 2022-23 released by the Insurance Regulatory and Development Authority of India (IRDAI) in December 2023?
A) The overall insurance penetration in India reduced from 4.5% in 2021-22 to 4.1% in 2022-23.
B) Life insurance penetration has reduced marginally from 3.2% in 2021-22 to 3% in 2022-23 while non-insurance penetration for both the years remained unchanged at 1%.
C) During FY23, public sector insurers issued 204.29 lakh policies (71.75%) while private life insurers issued 80.42 lakh policies (28.25%).
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-3) Only B & C
Explanation:
According to the Insurance Regulatory and Development Authority of India (IRDAI)’s Annual Report 2022-23, the overall insurance penetration in India reduced from 4.2% in 2021-22 to 4% in 2022-23.
Life insurance penetration has reduced marginally from 3.2% in 2021-22 to 3% in 2022-23 while non-insurance penetration for both the years remained unchanged at 1%.
i. During FY23, public sector insurers issued 204.29 lakh policies (71.75%) while private life insurers issued 80.42 lakh policies (28.25%).
Public sector: 35.81% policies were sold to women and the remaining 64.19% were sold to men.
Private sector: 30.13% were sold to women and 69.85% were sold to men.
ii. A total of 2.84 crore policies were sold during the fiscal year 2022-2023 (FY23). Of this, 97.38 lakh were sold to women which is 34.20% of 2.84 crore total policies as against a share of 34.7% in 2021-22.
iii. Karnataka(44.23%), Kerala(43.96%) and Mizoram (42.97%) have recorded the highest number of life insurance policies sold to women while Ladakh(23.10%), Haryana (27.16%) and Jammu & Kashmir (J&K) (28.07%) recorded the lowest.
iv. In terms of the number of life insurance policies, the claim settlement ratio decreased to 98.45% in 2022-23 from 98.64% in 2021-22. - Which of the following points is/are “correct” with respect to the recent step taken by the Reserve Bank of India (RBI) in December 2023?
A) RBI cancelled the banking licence of the Botad Peoples Co-operative Bank Ltd., Botad, Gujarat but granted the non-banking institution licence.
B) RBI has cancelled its licence to carry on banking business of the Botad Peoples Co-operative Bank in India which was granted in 1998 under Section 22 read with Section 56 of the Banking Regulation (BR) Act, 1949.
C) RBI has cancelled the licence of Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra, as the bank does not have adequate capital and earning prospects.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-5) All A, B & C
Explanation:
On December 29, 2023, the Reserve Bank of India (RBI) cancelled the banking license of The Botad Peoples Co-operative Bank Ltd., Botad, Gujarat but granted the non-banking institution licence.
RBI has cancelled its licence to carry on banking business of the Botad Peoples Co-operative Bank in India which was granted in 1998 under Section 22 read with Section 56 of the Banking Regulation (BR) Act, 1949. However, RBI allows it to function as a non-banking institution under Section 36A (2) read with Section 56 of the BR Act.
i. RBI has cancelled the licence of Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra. Consequently, the bank ceases to carry on banking business i.e. acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
The Commissioner and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
ii. Reason behind Cancellation:
Inadequate capital and earning prospects, violating Section 11(1) and Section 22 (3) (d) with Section 56 of BR Act, 1949.
Non-compliance with Sections 22(3)(a), 22 (3)(b), 22(3)(c), 22(3)(d), and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949.
The bank’s persistence poses a threat to the depositor interests as it is financially incapable of full repayment, negatively impacting public interest. - Name the bank that has recently (in Dec ‘23) entered into a Co-Lending Partnership with the Kisetsu Saison Finance (India) Private Limited, to offer Micro, Small & Medium Enterprise (MSME) Loans.
1) Bank of India
2) State Bank of India
3) Central Bank of India
4) Punjab National Bank
5) Bank of BarodaAnswer-3) Central Bank of India
Explanation:
The Central Bank of India Limited (CBI) has entered into a Co-Lending Partnership with Bengaluru (Karnataka) based Kisetsu Saison Finance (India) Private Limited, to offer Micro, Small & Medium Enterprise (MSME) Loans.
i. Under this partnership, CBI will be acquiring 80% of the MSME loans which originated and processed by Kisetsu Saison Finance.
ii. The partnership aims to expand the portfolio by the CBI and Kisetsu - In December 2023, ___________ became the 1st Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified Circular Polymers.
1) Oil India Limited
2) Bharat Petroleum Corporation Limited
3) Indian Oil Corporation Limited
4) Hindustan Petroleum Corporation Limited
5) Reliance Industries LimitedAnswer-5) Reliance Industries Limited
Explanation:
Reliance Industries Limited (RIL) became the 1st Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified Circular Polymers.
i. RIL’s Jamnagar(Gujarat) refinery became the 1st refinery to get the ISCC-Plus certification, validating its capability to produce Circular Polymers through chemical recycling.
ii. RIL has shipped its 1st batch of ISCC-Plus-certified Circular Polymers, named CircuRepol™ (Polypropylene) and CircuRelene™ (Polyethylene). - In December 2023, Life Insurance Corporation of India (LIC) reduced its shareholding in Bharat Heavy Electricals Limited (BHEL) from 11.701% to ___________ through open market operation (OMO).
1) 10.785%
2) 9.617%
3) 7.367%
4) 8.438%
5) 6.980%Answer-2) 9.617%
Explanation:
Life Insurance Corporation of India (LIC) reduced its shareholding in Bharat Heavy Electricals Limited (BHEL) from 11.701% to 9.617% through open market operation (OMO).
LIC sold its BHEL shares at an average price of Rs 79.58 through secondary market between June 2019 and December 2023.
LIC’s shareholding decreased from 40,74,40,614 to 33,48,62,025 Equity Shares.
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