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- Which of the following points is/are ‘correct’ with respect to the ‘1st Digital Economy Working Group (DEWG) meeting’ in India, as a part of India’s Presidency of the G20(Group of Twenty), held in February 2023?
A) The Ministry of Electronics and Information Technology (MeitY) hosted the 1st Digital Economy Working Group (DEWG) meeting in India in Indore, Madhya Pradesh.
B) The Chair of G20-DEWG was Alkesh Kumar Sharma, Secretary, Ministry of Electronics and Information Technology (MeitY)
C) MeitY has partnered with United Nations Development Programme (UNDP) to drive collective action on digital public infrastructure during India’s G20 Presidency.
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:
The Ministry of Electronics and Information Technology (MeitY) hosted the first Digital Economy Working Group (DEWG) meeting in India, as a part of India’s Presidency of the G20(Group of Twenty) from 13th to 15th February 2023 in Lucknow, Uttar Pradesh (UP).
i. The Chair of G20-DEWG was Alkesh Kumar Sharma, Secretary, Ministry of Electronics and Information Technology (MeitY)
• It was Co-Chaired by Sushil Pal, Joint Secretary, MeitY.
ii. MeitY, Government of India (GoI), has partnered with UNDP to drive collective action on digital public infrastructure during India’s G20 Presidency.
• This partnership aims to catalyze knowledge and action in the digital space to achieve the Sustainable Development Goals (SDG). - Name the Union Minister who has recently (in Feb ‘2023) launched a “Capacity Building Programme for Senior Scientists in Effective Leadership and Creativity” initiative in Hyderabad, Telangana.
1) Amit Shah (Union Minister of Home Affairs)
2) Anurag Singh Thakur (Union Minister of Information and Broadcasting)
3) Dharmendra Pradhan (Union Minister of Skill Development and Entrepreneurship)
4) Jitendra Singh (Minister of State of Science and Technology)
5) Ashwini Vaishnaw (Union Minister of Electronics and Information Technology)Answer-4) Jitendra Singh (Minister of State of Science and Technology)
Explanation:
On February 16, 2023, the Union Minister of State (Independent Charge) Jitendra Singh, Ministry of Science and Technology (MoST) launched a ‘Capacity Building Programme for Senior Scientists in Effective Leadership and Creativity’ at the Administrative Staff College of India (ASCI), Hyderabad, Telangana - Which city hosted the first Agriculture Deputies Meeting (ADM) of the Agriculture Working Group (AWG) under India’s G20 Presidency?
1) Indore, Madhya Pradesh
2) Bengaluru, Karnataka
3) Guwahati, Assam
4) Chennai, Tamil Nadu
5) Chandigarh, PunjabAnswer-1) Indore, Madhya Pradesh
Explanation:
The first Agriculture Deputies Meeting (ADM) of the Agriculture Working Group (AWG) under India’s G20 (Group of Twenty) Presidency, spanning 3 days, was held at Indore, Madhya Pradesh (MP), from 13th to 15th February 2023.
i. The session was chaired by Manoj Ahuja, Secretary of the Department of Agriculture & Farmers Welfare (DA&FW), Ministry of Agriculture & Farmers Welfare (MoA&FW) and co-chaired by Dr Smita Sirohi, Joint Secretary, DA&FW. - As per the Global Entrepreneurship Monitor (GEM) and National Entrepreneurship Context Index (NECI) 2022/2023 report released in February 2023, what is India’s rank out of 51 countries in terms of having a high- quality entrepreneurial ecosystem?
1) 4th
2) 8th
3) 6th
4) 10th
5) 3rdAnswer-1) 4th
Explanation:
According to the Global Entrepreneurship Monitor (GEM) and National Entrepreneurship Context Index’s (NECI) report titled ‘Global Entrepreneurship Monitor 2022/2023 Global Report Adapting to a “New Normal” India is ranked 4th out of 51 nations in terms of having a high- quality entrepreneurial ecosystem.
i. India’s most recent score of 6.1 demonstrates an overall improvement in the nation’s entrepreneurial environment over time. This is a significant improvement over the 2021 ranking of 16th overall.
ii. India’s NECI score increased to 6.0 in 2020 (ranked 4th) from 5.8 in 2019, when it was ranked 6th among GEM economies.
• However, there was a decline in 2021, with a score of 5.0 (barely sufficient) and a rank of 16.
iii. The United Arab Emirates (UAE), Saudi Arabia and Taiwan are the top 3 countries in the GEM 2022/2023 Global Report. - The Reserve Bank of India (RBI) has recently (in Feb’ 23) introduced a Foreign Contribution (Regulation) Act (FCRA) related transaction code in which of the following payment methods?
1) National Electronic Funds Transfer (NEFT)
2) Real Time Gross Settlement (RTGS) Systems
3) Immediate Payment Service (IMPS)
4) Both 1 & 2
5) All 1, 2 & 3Answer-4) Both 1 & 2
Explanation:
The Reserve Bank of India (RBI) introduced Foreign Contribution (Regulation) Act (FCRA) related transaction code in National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) Systems.
• The instructions for the same were issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
• It will be effective from March 15, 2023.
i. What are the changes: Originating banks are required to select two mandatory fields of NEFT/RTGS systems while remitting foreign donations to the Foreign Contribution (Regulation) Act (FCRA) account at SBI.
ii. Originating banks are also required to pass on donor details relating to ‘transaction without Legal Entity Identifier (LEI) details’ and ‘transaction without LEI details’ as part of ‘Sender to remitter information’ in NEFT and RTGS. - Which Insurance company has recently (in Feb ‘2023) partnered with the National Skill Development Corporation (NSDC) to promote self-employment and expand entrepreneurial prospects?
1) HDFC Life Insurance Company Limited
2) ICICI Prudential Life Insurance Limited
3) Max Life Insurance Limited
4) Aditya Birla SunLife Insurance Limited
5) SBI Life Insurance LimitedAnswer-1) HDFC Life Insurance Company Limited
Explanation:
The National Skill Development Corporation (NSDC) and HDFC Life Insurance Company Limited (HDFC Life), one of India’s top life insurers, have partnered as part of the Skill India Mission to promote self-employment and expand entrepreneurial prospects.
i. NSDC is a nodal skill development agency under the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India (GoI).
ii. Ved Mani Tiwari is the CEO of NSDC and MD of NSDC International. - Which bank has recently (in Feb ‘2023) launched Amrit Kalash, a limited-period term deposit scheme with an interest rate of 7.6% for senior citizens and 7.1% for others?
1) Indian Bank
2) Bank of Baroda
3) State Bank of India
4) Punjab & Sind Bank
5) Union Bank of IndiaAnswer-3) State Bank of India
Explanation:
State Bank of India (SBI) has launched Amrit Kalash, a new limited-period term deposit scheme with an interest rate of 7.6% for senior citizens and 7.1% for others.
i. SBI staff and pensioners are applicable for an additional 1% interest rate. The scheme is launched for both domestic and NRI (Non-Resident Indian) customers.
ii. Tenure: The deposit period under the scheme was 400 days - Name the bank that has recently (in Feb ‘23) become the 1st private sector bank in India to enable its customers to use (link) their RuPay Credit Card on Unified Payments Interface (UPI).
1) ICICI Bank
2) Axis Bank
3) HDFC Bank
4) YES Bank
5) IndusInd BankAnswer-3) HDFC Bank
Explanation:
HDFC Bank has become the 1st private sector bank in India to enable its customers to use (link) their RuPay Credit Card on Unified Payments Interface (UPI) with the BHIM (Bharat Interface for Money) App and other UPI-enabled apps.
i. Objective: HDFC Bank RuPay Credit Cards are connected to a UPI ID to enable safe and secure payment transactions.
ii. Currently, UPI facilitates transactions by linking Savings / Current Accounts through the Debit Cards of users.
iii. Currently, 3 banks Punjab National Bank, Union Bank of India, and Indian Bank have allowed linking RuPay Credit Card on UPI. - As per the Morgan Stanley update in February 2023, India’s Gross Domestic Product (GDP) is projected to grow to ________ in FY24.
1) 7.2%
2) 5.9%
3) 7.9%
4) 6.2%
5) 8.1%Answer-4) 6.2%
Explanation:
On February 16, 2023, Morgan Stanley in its research report projected India’s gross domestic product (GDP) to grow at 6.2% in FY24 as drivers of domestic demand remain intact amid fears of an impending slowdown.
i.The Union Budget for FY24 had projected nominal GDP growth at 10.5%, as the Central Government increased the capital investment outlay steeply for the third year in a row by 33% to Rs 10 trillion.
ii.The Economic Survey for 2022-23 projected that India would witness a growth between 6-6.8% in FY24. - Name the state that has recently (in Feb ‘23) approved the guidelines for ‘Mukhya Mantri Sukh-Ashray Yojana’ for Orphans, specially abled children, destitute women & senior citizens.
1) Jharkhand
2) Maharashtra
3) Madhya Pradesh
4) Gujarat
5) Himachal PradeshAnswer-5) Himachal Pradesh
Explanation:
On 16th February 2023, the 2nd Meeting of the Himachal Pradesh cabinet chaired by Chief Minister (CM) Sukhvinder Singh Sukhu, approved the guidelines for ‘Mukhya Mantri Sukh-Ashray Yojana’ that covers Orphans, specially abled children, destitute women and senior citizens.
i. The CM also noted that the orphan children, referred to as ‘Children of the State’, will be adopted by the government.
ii. In January 2023, CM launched the Mukhya Mantri Sukh-Ashray Yojana(as CM’s Sukhashray Sahayata Kosh) with a total outlay of Rs 101 crore for orphans.
iii. The cabinet also decided that the orphan children attaining the age of 18 years will be provided board and lodging in after-care institutions till they attain the age of 27.
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