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- Which of the following points are ‘correct’ with respect to the Central Bank Digital Currency (CBDC), as of November 2022?
A) RBI has commenced its first pilot project to implement CBDC or Digital Rupee (e₹) in the Wholesale Segment (e₹-W) for secondary trade in government securities (G-secs).
B) A CBDC is a digital version of currency notes issued by a central bank, classified as two types Retail (CBDC-R) & Wholesale (CBDC-W).
C) The RBI has designated 9 banks to participate in the digital rupee wholesale (e₹-W) pilot project.
1) Only A
2) Only B
3) Only A & B
4) Only B & C
5) All A, B & CAnswer-5) All A, B & C
Explanation:
The Reserve Bank of India (RBI) has commenced its first pilot project to implement Central Bank Digital Currency (CBDC) or Digital Rupee (e₹) in the Wholesale Segment (e₹-W) for secondary trade in government securities (G-secs) beginning on November 1, 2022.
• The first pilot in the Digital Rupee – Retail segment (e₹-R) is set to debut in a month
i. A Central Bank Digital Currency (CBDC) or Digital Rupee is a digital version of currency notes issued by a central bank. It is considered as a form of electronic money that may be used in contactless transactions.
ii. CBDC Can Be Classified into Two Types: Retail (CBDC-R): Retail CBDC would be potentially available for use by all & Wholesale (CBDC-W): Wholesale CBDC is designed for restricted access to select financial institutions.
iii. The RBI has designated 9 banks to participate in the digital rupee wholesale (e₹-W) pilot project.
• The nine banks are State Bank of India (SBI), Bank of Baroda (BoB), Union Bank of India (UBI), HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC. - Credit Card Base of major issuers has dropped during Q2FY23 (July-September 2022), over RBI’s norm regarding the deactivation of cards.
Which bank has the highest net reduction of 1.62 million credit cards in Q2FY23?
1) HDFC Bank
2) ICICI Bank
3) YES Bank
4) Axis Bank
5) State Bank of IndiaAnswer-1) HDFC Bank
Explanation:
On the lines of the Reserve Bank of India’s (RBI) mandate of deactivation of cards that have been inactive for a year, there is a significant drop in the card base of credit card issuers during Q2FY23 (July-September 2022).
i. HDFC Bank saw the highest net reduction of 1.62 million credit cards in Q2FY23. Its cards-in-force dropped to 16.32 million from almost 18 million in July 2022, followed by Axis Bank
ii. ICICI Bank lost 409,147 cards. In September 2022 alone, it saw a net reduction of over 620,000 cards.
iii. On the other hand, SBI Cards gained during Q2FY23 with a net addition of 293,368 cards. It is because 95% of its portfolio is dominated by fee-based cards. - Name the bank that has recently (in Nov ‘22) partnered with Visa to launch two Premium Debit Cards for its High Networth Individual (HNI) customers.
1) Indian Bank
2) Canara Bank
3) Bank of Baroda
4) Union Bank of India
5) Bank of IndiaAnswer-– 3) Bank of Baroda
Explanation:
The Bank of Baroda (BoB) in collaboration with Visa launched the following two new premium Debit Cards for BoB customers:
• BoB World Opulence – a super-premium Visa Infinite Debit Card (Metal Edition)
• BoB World Sapphire – a Visa Signature Debit Card
i. These cards are designed for the Bank’s High Networth Individual (HNI) customer segment along with the reward programs
ii. The debit cards were unveiled by Indian Badminton Player PV (Pusarla Venkata) Sindhu who is BoB’s brand endorser. - In November 2022, India granted _________ to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) to support the Palestine Refugees.
1) USD 1.2 million
2) USD 5.9 million
3) USD 3.4 million
4) USD 2.5 million
5) USD 4.9 millionAnswer-4) USD 2.5 million
Explanation:
India presented USD 2.5 million, the 2nd tranche of the total contribution of USD 5 million for the financial year 2022-2023, to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) to support the Palestine Refugees.
Note: Since 2018, India has contributed around USD 22.5 million to UNRWA. - Which of the following institutes has recently (in Oct ‘22) signed an agreement with the Bureau of Indian Standards (BIS) for the establishment of ‘BIS Standardization Chair Professor’?
1) Indian Institute of Technology (IIT) Kanpur
2) National Institute of Technology (NIT) Rourkela
3) IIT Indian school of Mines (ISM) Dhanbad
4) Both 1 & 2
5) All 1, 2 & 3Answer-5) All 1, 2 & 3
Explanation:
The Bureau of Indian Standards (BIS) has signed an agreement with (Indian Institute of Technology) IIT Kanpur, IIT Indian school of Mines (ISM) Dhanbad and the National Institute of Technology (NIT) Rourkela for the establishment of ‘BIS Standardization Chair Professor’ at these institutes.
i. It is an initiative towards institutionalising its engagement with the eminent institutes of the country. - In which hills of the Western Ghats, the Francy’s Reedtail, a new species of damselfly, was discovered (in Nov ’22) by researchers from the Travancore Nature History Society’s Odonata research group (TORG)?
1) Cardamom Hills
2) Nilgiri Hills
3) Anamalai Hills
4) Brahmagiri Hills
5) Biligirirangana HillsAnswer-4) Brahmagiri Hills
Explanation:
A group of researchers, of the Travancore Nature History Society’s odonata research group (TORG) has discovered a new species of damselfly named, Francy’s Reedtail (Protosticta francyi), in the Kanichar grama panchayat of Kannur district, which forms a part of the Brahmagiri Hills of Western Ghats.
i. The new member belongs to the genus of Protosticta Selys and the Odonata population that presently comprises 209 species with 82 endemics (around 183 species with 70 endemics in Kerala).
ii. This species has been named after Francy K. Kakkassery, a retired professor of zoology of St. Thomas College, Thrissur and has been published in the latest issue of journal Entomon. - In October 2022, Indian junior men’s hockey team won the 10th edition of Sultan of Johar Cup 2022 by defeating which country?
1) Thailand
2) Australia
3) Malaysia
4) South Africa
5) JapanAnswer-2) Australia
Explanation:
The Indian junior men’s hockey team defeated Australia to win the Sultan of Johor Cup 2022 held at Taman Daya Hockey Stadium in Johor Bahru, Malaysia from October 22-29 2022. The Sultan of Johor Cup 2022 marks the 10th edition of the tournament.
i. It was India’s 3rd win after 2014 and 2013. - Jamshed J Irani, who was also known as the “Steel Man of India”, passed away in November 2022.
In which year did he receive the Padma Bhushan Award for his contribution to the steel industry?
1) 2010
2) 2015
3) 2007
4) 2012
5) 2009Answer-3) 2007
Explanation:
Padma Bhushan Awardee Jamshed J Irani, who was also known as the “Steel man of India”, passed away at the age of 86 years at Jamshedpur, Jharkhand.
i. He was conferred the Padma Bhushan Award (2007) for his contribution to the steel industry.
ii. He was honoured with the International Fellow of the Royal Academy of Engineering in 1996 and an Honorary Knighthood by Queen Elizabeth II in 1997 for his contributions to Indo-British Trade and Cooperation. - What is the theme of the 7th Edition of India Water Week (IWW) 2022 that was observed across India on 1st November to 5th November 2022?
1) Water, Energy and Food Security: Call for solutions
2) Water Cooperation – Coping with 21st century challenges
3) Water Security for Sustainable Development with Equity
4) Water and Energy for inclusive growth
5) Water Management for Sustainable.Answer-3) Water Security for Sustainable Development with Equity
Explanation:
India Water Week (IWW) is a regular forum organised by the Department of Water Resources, River Development & Ganga Rejuvenation (DoWR, RD & GR), the Ministry of Jal Shakti, Government of India to promote awareness about the importance of available water.
i. The 7th Edition of IWW 2022 organised from 1st November to 5th November 2022 with the theme of “Water Security for Sustainable Development with Equity”.
ii. The 1st India Water Week was held in New Delhi from 10th April to 14th April 2012. - When was World Vegan Day 2022 observed across the globe?
1) 30th October 2022
2) 28th October 2022
3) 31st October 2022
4) 29th October 2022
5) 1st November 2022Answer-5) 1st November 2022
Explanation:
World Vegan Day 2022 was observed across the globe on 1st November 2022 to promote veganism and vegan diet.
i. On 1st November 1994, Louise Wallis, the chair of The Vegan Society, the United Kingdom(UK), established the annual observance of World Vegan Day on 1st November.
ii. Every November, World Vegan Month is celebrated across the globe as a platform to highlight the vegan movement.
Note- The term “vegan” was coined by Donald Watson, which was chosen by combining the first and last letters of “vegetarian.”
- Which of the following points are ‘correct’ with respect to the Central Bank Digital Currency (CBDC), as of November 2022?
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