AffairsCloud brings you the complete and important daily Current Affairs Quiz 12 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.
- Which of the following is/are ‘Incorrect’ with respect to cabinet approval on 8th December 2023?
A)The Union cabinet made it mandatory to pack 100% of food grains and 50% of sugar in jute bags.
B)The Union cabinet has approved an additional allocation of Rs.2500 Cr for the continuation of the Interest Equalisation Scheme till 30th June 2024.
C)The Interest Equalisation Scheme will be jointly monitored by the Directorate General of Foreign Trade (DGFT) and Reserve Bank of India (RBI).
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-1) Only A
Explanation:
The Cabinet Committee on Economic Affairs(CCEA) chaired by Prime Minister, Shri Narendra Modi, approved the following
i.Reservation norm for mandatory use of jute in Packaging for jute year 2023-24 under the Jute Packaging Material (JPM) Act,1987.
The Mandatory packaging norms provide for 100% reservation of the foodgrains and 20% of sugar to be compulsorily packed in jute bags.
ii.Additional allocation of Rs.2500 Cr for the continuation of the Interest Equalisation Scheme till 30th June 2024. This initiative allows exporters, MSME manufacturer exporters, to avail the pre- and post-shipment Rupee export credit at competitive interest rates.
The scheme shall be implemented by Reserve Bank of India (RBI) through various Public and non-Public Sector banks who provide pre and post shipment credit to the exporters. The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and RBI. - The government of India (GoI) has approved the first urban flood mitigation project of Rs. ___________ crore (in Dec’23)for the ‘Integrated Urban Flood Management Activities for Chennai Basin Project’
1) 972.32
2) 325.83
3) 561.29
4) 631.14
5) 142.85Answer-3) 561.29
Explanation:
The government of India(GoI) has approved the first urban flood mitigation project of Rs. 561.29 crore for the ‘Integrated Urban Flood Management Activities for Chennai Basin Project’ under the National Disaster Mitigation Fund (NDMF), which also includes central assistance of Rs. 500 crore.
i.Government of India has directed the Ministry of Home Affairs (MHA) to release in advance the the central share of the 2nd installment of the State Disaster Response Fund (SDRF) of Rs 493.60 crore to Andhra Pradesh and Rs 450 crore to Tamil Nadu to help state governments with the management of relief necessitated by the Cyclone Michaung. - Which ministry has organised 1st Indian Art, Architecture, and Design Biennale 2023 (IAADB’ 23) from 9th to 15th December 2023 at Red Fort in New Delhi, Delhi?
1) Ministry of Culture
2)Ministry of Information & Broadcasting
3) Ministry of Development of North Eastern Region
4) Ministry of Minority Affairs
5) Ministry of Rural DevelopmentAnswer-1) Ministry of Culture
Explanation:
Prime Minister (PM) Narendra Modi inaugurated the 1st Indian Art, Architecture, and Design Biennale 2023 (IAADB’23), which is being organized by the Ministry of Culture from 9th to 15th December 2023 at Red Fort in New Delhi, Delhi.
i.The event brings together artists, designers, and architects from India to showcase innovations in art, design, and architecture.
ii.During the program, the PM inaugurated the ‘Aatmanirbhar Bharat Centre for Design’ and the student Biennale- Samunnati. He also launched a Commemorative Stamp. - .___________ edition of the Hornbill festival was concluded recently(in Dec’ 2023) in Nagaland.
1) 23rd
2) 25th
3) 22nd
4) 24th
5) 21stAnswer-4) 24th
Explanation:
The 24th edition of the Hornbill Festival was held from 1st to 10th December 2023 in Naga Heritage Village of Kisama located at a distance of 12 km from Kohima, in Nagaland. The festival is annually organised by the Government of Nagaland.
i.Hornbill Festival, referred as ‘Festival of Festivals’ is annually celebrated in Nagaland to encourage inter-tribal interaction and to preserve, protect and revive the uniqueness and richness of the Naga heritage. - Which of the following is/are “correct” with respect to 5th Bi-Monthly monetary Policy Committee(MPC) conducted by the Reserve Bank of India(RBI) in December 2023?
A)The Reserve Bank of India (RBI) has retained the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% for the 5th consecutive time.
B)RBI raised the limit for UPI payments to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.
C)RBI allowed banks to reverse liquidity facilities under both SDF (standing deposit facility) and MSF (marginal standing facility) on weekends and holidays w.e.f. December 30, 2023.
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:
The Reserve Bank of India (RBI)’s 5th Monetary Policy Committee (MPC) Bi-monthly Monetary Policy Committee (MPC), held from 6th to 8th December 2023, has decided to retain the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% for 5th consecutive time.
Category Rate
Policy Repo Rate 6.50%
Fixed Reverse Repo Rate 3.35%
Standing Deposit Facility (SDF) Rate 6.25%
Marginal Standing Facility (MSF) Rate 6.75%
Bank Rate 6.75%
Cash Reserve Ratio (CRR) 4.50%
Statutory Liquidity Ratio (SLR) 18%
i.RBI raised the limit for UPI payments to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.
ii. RBI allowed banks to reverse liquidity facilities under both SDF (standing deposit facility) and MSF (marginal standing facility) on weekends and holidays w.e.f. December 30, 2023.
iii.Consumer Price Index (CPI) inflation or retail inflation is projected at 5.4% for FY24, with FY24’s Q3 at 5.6%, and Q4 at 5.2%.
iv. RBI has kept India’s real Gross Domestic Product (GDP) growth 7% in FY24 (2023-24) with FY24’s Q3 at 6.5%, and Q4 at 6% - In December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry(MoCI), collaborated with which organisation to improve India’s logistics efficiency?
1) International Civil Aviation Organization
2) World Economic Forum
3) World Bank
4) United Nations Development Programme
5) South Asian Association for Regional CooperationAnswer-3) World Bank
Explanation:
The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry(MoCI), collaborates with the World Bank (WB) to improve India’s logistics efficiency.
i.The aim behind the collaborative efforts is to elevate India’s ranking in the WB Logistics Performance Index (LPI).
ii.Land Ports Authority of India (LPAI)- Implementation of the Land Port Management System (LPMS) to digitise operations at Integrated Check Posts (ICPs)
iii.Ministry of Railways- Unveiling plans for 100% electrification of railway tracks, a marked acceleration in track construction speed, and increased capacity for locomotives and wagons.
iv.Ministry of Ports, Shipping and Waterways (MoPSW)- Launch of NLP Marine, a National maritime single-window platform offering end-to-end logistics solutions for seamless document exchange among exporters, importers, and service providers, read the press release. - In December 2023, REC Limited has signed a ____________ loan agreement with KfW Development Bank, Germany to reform Distribution Companies (DISCOMs) in India.
1) 150 million Euro
2) 510 million Euro
3) 200 million Euro
4) 450 million Euro
5) 300 million EuroAnswer-3) 200 million Euro
Explanation:
REC Limited(formerly Rural Electrification Corporation Limited), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP), has signed a 200 million Euro (approximately Rs. 1,795 crore) loan agreement with KfW Development Bank, Germany, to reform Distribution Companies (DISCOMs) in India.
i.The agreement is in line with the Revamped Distribution Sector Scheme (RDSS).
ii.The scheme extends for five years starting from financial year 2021-22 (FY22) to FY26.
iii.The scheme provides result-linked financial assistance to DISCOMs for strengthening of supply infrastructure based on meeting pre-qualifying criteria and achieving basic minimum benchmarks. - Who has recently (in Dec’ 23) sworn in as 6th Chief Minister of Mizoram?
1) Vishnu Deo Sai
2) Lalbiakzama
3) Baryl Vanneihsangi
4) Conrad Kongkal Sangma
5) LalduhomaAnswer-5) Lalduhoma
Explanation:
Lalduhoma (74), Lalduhoma (74), Leader of the Zoram People’s Movement (ZPM), was sworn in as the 6th Chief Minister (CM) of Mizoram.He is also the oldest person to become the CM of Mizoram.
i.Baryl Vanneihsangi(32) of ZPM elected from Aizawl South-III constituency, has become the youngest female Member of the Legislative Assembly (MLA) of Mizoram. - Which of the following is incorrectly matched with respect to the additional charge given to ministers by President Droupadi Murmu on 7th December 2023?
1) Arjun Munda – Union Minister for the Ministry of Agriculture & Farmers Welfare
2) Sushri Shobha Karandlaje – Minister of State in Ministry of Food Processing Industries
3) Rajeev Chandrasekhar – Minister of Stateof Ministry of Jal Shakti
4) Bharti Pravin Pawar – Minister of State in Ministry of Tribal Affairs
5) Smriti Zubin Irani – Union Minister for the Ministry of TextileAnswer-5) Smriti Zubin Irani – Union Minister for the Ministry of Textile
Explanation:
On 7th December 2023, Droupadi Murmu, President of India, as advised by the Prime Minister (PM) Narendra Modi has given additional charge to 4 Union Ministers.
i.Union Minister Arjun Munda, Ministry of Tribal Affairs (MoTA), has been given additional charge as the Union Minister for the Ministry of Agriculture & Farmers Welfare (MoA&FW).
ii.Sushri Shobha Karandlaje, Minister of State(MoS) for MoA&FW was given additional charge of MoS in Ministry of Food Processing Industries (MoFPI).
iii.Rajeev Chandrasekhar, MoS for Ministry of Skill Development and Entrepreneurship (MSDE) and Ministry of Electronics and Information Technology(MeiTY) was given additional charge as the MoS of Ministry of Jal Shakti (MoJS).
iv.Bharti Pravin Pawar, MoS of Ministry of Health and Family Welfare (MoH&FW) was given additional charge as the MoS in MoTA. - In December 2023, Life Insurance Corporation of India (LIC) reduced its shareholding in HDFC Asset Management Company (AMC) Limited from 9.046% to ___________ (%) of the paid-up capital.
1) 7.817%
2) 5.116%
3) 8.025%
4) 6.953%
5) 4.141%Answer-4) 6.953%
Explanation:
Mumbai (Maharashtra) based Life Insurance Corporation of India (LIC) has reduced its shareholding in HDFC Asset Management Company (AMC) Limited from 9.046% to 6.953% of the paid-up capital.
i.LIC’s shareholding in HDFC AMC has reduced from 1,93,11,744 to 1,48,44,466 Equity Shares.
ii.LIC sold the additional shares of HDFC AMC through Open Market Transaction.
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