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- In September 2022, the Ministry of Finance increased the interest rates in some ‘Small Savings Schemes’ for Q3FY23 (October-December).
Which of the following points is ‘INCORRECT’ with respect to Small Saving Schemes (SSS) & their interest rates as of September 2022?
1) The Senior Citizens Savings Scheme Account (SCSS) interest rate was increased to 7.6 from 7.4% with a maturity period of 5 years.
2) The Monthly Income Account Scheme interest rate was increased to 6.7% for Q3 of FY23 from 6.6%.
3) The Interest Rate of Kisan Vikas Patra was raised (10 basis points) to 6.9% from 6.8% and the maturity period was reduced to 122 months from 124 months earlier.
4) The Interest Rate of the 2-year Time Deposit was increased (20 basis points) in the 2-year time deposit to 5.7% from their previous 5.5%.
5) The Interest Rate of the 3-year Time Deposit has been raised by a huge 30 basis points to 5.8% from the previous 5.5%.
Answer & Explanation
Answer-3) The Interest Rate of Kisan Vikas Patra was raised by 10 basis points to 6.9% from 6.8% and the maturity period was reduced to 122 months from 124 months earlier.
Explanation:
The Ministry of Finance increased the interest rates on five of 12 small savings schemes for Q3FY23 (October-December) while other interest rates kept unchanged.
• The Interest Rate of Kisan Vikas Patra was raised by 10 basis points to 7% from 6.9% and the maturity period reduced to 123 months from 124 months earlier.
• The Senior Citizens Savings Scheme Account (SCSS) interest rate was increased to 7.6 from 7.4% with a maturity period of 5 years.
• The Monthly Income Account Scheme interest rate was increased by 10 basis points to 6.7% for Q3 of FY23 from 6.6%.
• The Interest Rate of the 2-year Time Deposit was increased by 20 basis points in the 2-year time deposit to 5.7% from their previous 5.5%.
• The Interest Rate of 3-year Time Deposit has been raised by a huge 30 basis points to 5.8% from the previous 5.5%.
Note- All other scheme’s rates that Kept Unchanged
- ___________________ became India’s first state/Union Territory (UT) to achieve a 100% coverage of precautionary dose.
1) Chandigarh
2) Madhya Pradesh
3) Gujarat
4) Jammu and Kashmir
5) Andaman and Nicobar Islands
Answer & Explanation
Answer-5) Andaman and Nicobar Islands
Explanation:
Andaman and Nicobar (A&N) Islands became India’s first state/Union Territory (UT) to achieve a 100% coverage of precautionary dose.
• More than 2,87,216 beneficiaries aged 18 were vaccinated with a precautionary dose.
i. The rate of vaccination has seen a spike after the 15th July 2022, when the Government decided to provide precautionary doses free of cost under ‘Azadi ka Amrit Mahotsav’.
ii. Apart from this, the set target of youths under 15-18 years and 12-14 years age category have also been fully vaccinated.
- As per the World Intellectual Property Organization (WIPO)’s 15th Global Innovation Index (GII) 2022, launched in September 2022, India secured ______ rank in the Index, while ______ tops the index as the most innovative economy in the world in 2022 for the 12th year consecutively.
1) 52nd; Netherlands
2) 40th; Switzerland
3) 52nd; Sweden
4) 40th; Netherlands
5) 30th; Switzerland
Answer & Explanation
Answer-2) 40th; Switzerland
Explanation:
The 15th Global Innovation Index (GII) 2022 by the World Intellectual Property Organization (WIPO) was launched, in which India ranked at 40th position. It is a huge leap of 41 places in 7 years as India was at 81st position in 2015.
i. It should be noted that India along with Turkiye (37th) entered the top 40 for the first time. It stood at 46th in the 2021 GII.
ii. Switzerland ranked at 1st position as the most innovative economy in the world in 2022 for the 12th year in a row followed by the United States (US-2nd), Sweden (3rd), the United Kingdom (UK-4th) and the Netherlands (5th).
- Which of the following organisations recently (in Sept ‘22) collaborated with the Government of India (GoI) to launch USD 1 billion in funds for financing electric vehicles (EVs)?
1) World Bank
2) Small Industries Development Bank of India
3) Insurance Regulatory and Development Authority
4) Both 1 & 2
5) Both 1 & 3
Answer & Explanation
Answer-4) Both 1 & 2
Explanation:
The Government of India (GoI), World Bank (WB) and the Small Industries Development Bank of India (SIDBI) collaborated to launch a USD 1 billion fund to provide guarantees against defaults on loans taken to buy electric 2-wheelers and 3-wheelers.
i. This will be facilitated by the National Institute for Transforming India (NITI) Aayog with an aim of faster and easier financing of Electric Vehicles (EVs).
ii. Initially a USD 300 million fund will be provided as a ‘first loss risk sharing instrument’ and will be available to all financial institutions.
iii. Partial credit guarantee and first loss risk sharing instruments are some of the effective financial solutions to foster the transition and increase electric mobility.
- Which company recently (in Sept ‘22) signed an MoU with Electronics Sector Skill Council of India (ESSCI) to upskill youth in future technologies?
1) Samsung India
2) Infosys
3) Amazon
4) Tata Consultancy Services
5) HCL Tech
Answer & Explanation
Answer-1) Samsung India
Explanation:
The Electronics Sector Skill Council of India (ESSCI) signed an MoU with Samsung India to empower the youth with industry-relevant skills in emerging technology domains to enhance their employability.
i. It will be a part of the government’s ‘Skill India’ initiative which aims to empower the youth with industry-relevant skills in emerging technologies such as Artificial Intelligence, the Internet of Things, Big Data and Coding & Programming.
ii. The programme, ‘Samsung Innovation Campus’, aims to upskill over 3,000 unemployed youth from 18-25 years of age in future technologies such as Artificial Intelligence, Internet of Things, Big Data and Coding & Programming.
- Name the Organisation/Institute that recently (in Sept ‘22) signed an MoU with Google to ease searching the Internet in Sanskrit.
1) Indian Council of Historical Research
2) Centre for Cultural Resources and Training
3) Central Institute of Indian Languages
4) Indian Council for Cultural Relation
5) Sanskrit Research Institute
Answer & Explanation
Answer- 4) Indian Council for Cultural Relation
Explanation:
The Indian Council for Cultural Relation (ICCR) signed an MoU with Google to ease searching the Internet in Sanskrit. The collaboration between ICCR and Google aims to improve the Sanskrit translation experience.
i. The agreement was signed to advance Google’s artificial Intelligence (AI)/Machine Learning (ML) language technology for translating Sanskrit literature to many other languages and vice-versa.
Note- Currently Eight Indian languages, such as Sanskrit, Assamese, Bhojpuri, Dogri, Konkani, Maithili, Mizo, and Meiteilon (Manipuri) are included in the Google Translate.
- Who was recently (in Sept ‘22) appointed as the new Brand Ambassador of Hero MotoCorp Limited?
1) Ranveer Singh
2) Ram Charan
3) Allu Arjun
4) Vijay Deverakonda
5) Vicky Kaushal
Answer & Explanation
Answer-2) Ram Charan
Explanation:
Hero MotoCorp Limited, the world’s largest manufacturer of motorcycles and scooters appointed Tollywood (Telugu) actor Ram Charan as the new Brand Ambassador.
i. As the brand ambassador of Hero MotoCorp Ram Charan will feature in its campaign of Glamour XTEC – Gazab Style, Gazab Technology.
About Hero MotoCorp Limited:
Chairman & Chief Executive Officer (CEO)- Pawan Munjal
Headquarters- New Delhi, Delhi
Establishment- 1984
- The World 1st cloned Arctic wolf Maya was born to a beagle in a Sinogene Biotechnology Co. Ltd. by using biotechnology.
Sinogene Biotechnology Co. Ltd. belongs to which country?
1) Australia
2) China
3) Russia
4) Germany
5) United States of America
Answer & Explanation
Answer-2) China
Explanation:
The World’s first successful cloned Arctic wolf (Canis lupus arctos), Maya, was born to a beagle in a Beijing, China based firm Sinogene Biotechnology Co. by using biotechnology. She was born on June 10, 2022.
i. The donor cells of the cloned arctic wolf came from a wild arctic wolf named “Maya”, introduced from Canada to Harbin Polarland, who died in August 2021(16 years old).
ii. Its oocyte was from a female dog in estrus and its surrogate mother was a beagle, which shares genetic ancestry with arctic wolves.
Note- The first animal to be cloned was Dolly the sheep in 1996. It died in February, 2003, from a lung infection.
- Name the author of the book, “Ambedkar: A Life” that was published by Aleph Book Company in September 2022.
1) Shashi Tharoor
2) Karan Singh
3) Arun Shourie
4) Jaswant Singh
5) Sitaram Yechury
Answer & Explanation
Answer-1) Shashi Tharoor
Explanation:
An author, politician, and former international civil servant, Shashi Tharoor authored a new book named “Ambedkar: A Life”. The book was published by Aleph Book Company.
i. Shashi Tharoor stresses the role of Bhimrao Ramji Ambedkar (B.R.Ambedkar) as a constitutionalist and a builder of democracy.
ii. He explores different sides of B.R.Ambedkar’s life but stumbles when he tries to detail his ‘flaws’.
- When was the International Translation Day (ITD) 2022 observed across the globe by the United Nations (UN)?
1) 28th September 2022
2) 26th September 2022
3) 29th September 2022
4) 27th September 2022
5) 30th September 2022
Answer & Explanation
Answer-5) 30th September 2022
Explanation:
The United Nations (UN)’s International Translation Day (ITD) 2022 was observed across the globe on 30th September 2022 with the theme of ‘A World without Barriers: The Role of Language Professionals in Building Culture, Understanding and Lasting Peace’.
i. The theme of ITD is annually chosen by FIT (the Fédération Internationale des Traducteurs/International Federation of Translators).
ii. The 1st UN recognised International Translation Day was observed on 30 September 2017.
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