AffairsCloud brings you the complete and important daily Current Affairs Quiz 22 July 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.
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- In July 2023, the Central Government implemented a key provision of the Competition (amendment) Act 2023 that vests power of appointment of Director General- DG (Investigation) in the Competition Commission of India (CCI) from the _____________ (Ministry).
1) Ministry of Home Affairs
2) Ministry of Commerce and Industry
3) Ministry of Corporate Affairs
4) Ministry of Consumer Affairs, Food and Public Distribution
5) Ministry of Law and JusticeAnswer-3) Ministry of Corporate Affairs
Explanation:
The Central Government has implemented a key provision of the Competition (amendment) Act 2023 that vests power of appointment of Director General- DG (Investigation) in the Competition Commission of India (CCI). Concurrently, it also has modified existing recruitment rules Competition CCI (Director General) Recruitment Rules, 2009 to change the composition of the Search-cum-Selection Committee for appointment of DG.
What are the changes?
• Earlier, the Search-cum-Selection Committee was headed by the Secretary, Ministry of Corporate Affairs (MCA). Now, upon the vesting of power in CCI, the Search-cum-Selection Committee will now be headed by Chairperson CCI and will have two Members, one each to be nominated by MCA and Central Government (expert-person of eminence)
• The DG would be appointed by CCI out of the Panel (upto three names) recommended by the search-cum-selection committee after obtaining prior approval of the Central Government.
• So far, the power to appoint DG was vested in the MCA. - Which state government has recently (in July ‘23) partnered with the One District One Product (ODOP) program to promote the indigenous crafts and artisans of the state?
1) Maharashtra
2) Gujarat
3) Uttar Pradesh
4) Madhya Pradesh
5) KeralaAnswer-2) Gujarat
Explanation:
On 20th July 2023, One District One Product (ODOP) program, an initiative under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry partnered with the Government of Gujarat in New Delhi, Delhi, with the aim to foster the promotion of the indigenous crafts and artisans of the state.
• By implementing product tagging and story cards, the aim of the collaboration will be achieved.
i. ODOP-Gujarat presents an extensive array of 68 distinctive products, encompassing a diverse range from traditional crafts (like Gamthi Block print and Mata-ni-Pachedi) to agricultural commodities (like groundnuts and cumin).
ii. One District One Product Scheme is an initiative that is seen as a transformational step forward towards realizing the true potential of a district, fueling economic growth, and generating employment and rural entrepreneurship, taking us to the goal of AtmaNirbhar Bharat. - Which country has recently (in July ‘23) signed a memorandum of cooperation (MoC) with India for semiconductor supply-chain partnership?
1) Japan
2) China
3) Brazil
4) Argentina
5) United Arab EmiratesAnswer-1) Japan
Explanation:
On 20th July 2023, India and Japan signed a memorandum of cooperation (MoC) for a semiconductor supply-chain partnership for government-to-government and industry-to-industry collaboration.
i. The agreement was signed between Ashwini Vaishnaw, Union Minister for Electronics and Information Technology and Yasutoshi Nishimura, Japan’s Minister of Economy, Trade and Industry in New Delhi, Delhi.
ii. The MoC helps India to become a global hub for the semiconductor industry and provides access to Japanese technology, which helps India to develop its own semiconductor industry. - In July 2023, ______________ became the first Arab country to be granted observer status of the Asia-Pacific Group on Money Laundering (APG).
1) Qatar
2) Saudi Arabia
3) Yemen
4) United Arab Emirates
5) EgyptAnswer-4) United Arab Emirates
Explanation:
The United Arab Emirates (UAE) has become the first Arab country to be granted observer status of the Asia-Pacific Group on Money Laundering (APG), the largest Financial Action Task Force-style regional body (FSRB) in the world. The decision was made at the APG’s 2023 Annual Meeting and Technical Assistance and Training Forum held in Vancouver, British Columbia, Canada from 9-14 July 2023.
• The meeting was attended by a UAE delegation led by Hamid Al Zaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter-Terrorism Financing (EO AML/CTF).
i. During the meeting, Tuvalu was admitted as the newest APG member. With this, APG now has 41 active members.
ii. During the meeting, along with UAE, Kazakhstan was also admitted as the APG observers. With the UAE and Kazakhstan, APG now has 9 observer jurisdictions. - Name the organisation that has recently (in July ‘23) introduced six new strategies under the Environmental, Social and Governance (ESG) category.
1) Insurance Regulatory and Development Authority of India
2) Securities and Exchange Board of India
3) Reserve Bank of India
4) Small Industries Development Bank of India
5) Association of Mutual Funds in IndiaAnswer-2) Securities and Exchange Board of India
Explanation:
On 20 July 2023, the Securities and Exchange Board of India(SEBI), the regulator of the securities market, through a circular allowed Asset Management Companies(AMC) to introduce six new strategies under the Environmental, Social and Governance (ESG) category.
• Currently, mutual funds are restricted to offer only one scheme with ESG investing under the thematic category for equity schemes.
• The six sub-categories to the ESG theme, namely exclusion, integration, best-in-class and positive screening, impact investing, sustainable objectives, and transition-related investments.
i. SEBI introduced a more comprehensive framework for ESG rating called ‘BRSR Core’ (Business Responsibility and Sustainability Reporting Core) to establish the basic criteria and metrics that companies need to disclose and comply with to receive an ESG rating.
ii. SEBI has issued a mandate for ESG schemes, requiring them to invest a minimum of 65% of their Assets Under Management (AUM) in listed entities(against present 80%) that provide assurance on the BRSR (Business Responsibility and Sustainability Reporting) Core. - Name the company that has recently (in July ‘23) signed an MoU with Avaada Group to invest Rs 20,000 crore over 5 Years.
1) Power Finance Corporation Ltd
2) NTPC Limited
3) REC Limited
4) GAIL India Limited
5) Power Grid Corporation of IndiaAnswer-3) REC Limited
Explanation:
On July 20, 2023, Avaada Group signed a Memorandum of Understanding (MoU) with REC Limited (formerly Rural Electrification Corporation Limited) under which the latter will invest Rs 20,000 crore in Avaada Group over the next five years.
• This MoU was inked on the sidelines of the 4th meeting of the G20(Group of 20) Energy Transition Working Group (ETWG) in Goa.
i. Avaada will utilize this investment in leading innovative renewable energy projects across India which include green hydrogen and its derivatives, solar photovoltaic (PV) manufacturing, and an assortment of solar, wind, and hybrid projects.
ii. The MoU also aligns with the vision of ‘Atmanirbhar Bharat’ and the Green Hydrogen Mission, to drive India’s energy transition growth. - Which ministry/company has recently (in July ‘23) won the “Best Engagement” category for its achievements on e- procurement through the Government e Marketplace (GeM) portal?
1) NLC India Limited
2) Ministry of coal
3) Mahanadi Coalfields Limited
4) Ministry of Chemicals and Fertilizers
5) Ministry of Micro, Small and Medium EnterprisesAnswer-– 2) Ministry of coal
Explanation:
The Ministry of Commerce and Industry awarded the Ministry of coal under the “Best Engagement” category for its achievements on e- procurement through Government e Marketplace (GeM).
i. The Ministry has consistently performed well on the GeM portal for 2 consecutive financial years.
ii. During the financial year 2023-24, the Coal Public Sector Undertakings (PSUs) have shown a steady confidence in GeM by publishing bids worth Rs. 21,500 crore.
iii. Other Awards:
• Coal India Limited (CIL) has been awarded “Rising Star” by GeM.
• NLC India Limited (Formerly Neyveli Lignite Corporation Limited) has been awarded in the “TimelyPayments (Central Public Sector Enterprises CPSEs)” category through GeM. - Who has been recently (in July’ 23) appointed as the Managing Director (MD) of Life Insurance Corporation of India (LIC)?
1) Gurumoorthy Mahalingam
2) M. Jagannath
3) Suchindra Mishra
4) Sat Pal Bhanoo
5) Siddhartha MohantyAnswer-– 4) Sat Pal Bhanoo
Explanation:
Sat Pal Bhanoo has been appointed as the Managing Director (MD) of Life Insurance Corporation of India (LIC) with effect from the date of assumption of charge of office and up to the date of his superannuation on 31st December 2025 or until further orders, whichever is earlier.
i. He succeeds Siddhartha Mohanty, who was appointed as the Chairman of LIC in April 2023.
ii. Sat Pal Bhanoo is currently serving as the Additional Zonal Manager (In-Charge), LIC’s zonal office in Bhopal, Madhya Pradesh(MP).
iii. In June 2023, MP Tangirala,Additional Secretary in the Department of Financial Services, Ministry of Finance, was appointed as Government Director of LIC replacing Suchindra Misra. - Who has recently (in July ‘23) won the Super GM chess tournament 2023 held in Budapest, Hungary?
1) Magnus Carlsen (Norway)
2) R Praggnanandhaa (India)
3) Sanan Sjugirov(Russia)
4) Peter Prohaszka (Hungary)
5) Gukesh D (India)Answer-2) R Praggnanandhaa (India)
Explanation:
On 19th July 2023, Young Indian Grandmaster (GM) R Praggnanandhaa (17) became champion at the V Geza Hetenyi Memorial Super Grandmaster Chess Tournament 2023 in Budapest, Hungary.
i. In the final round, he secured a draw against Polish GM Radoslaw Wojtaszek with the white pieces.
ii. Praggnanandhaa scored wins over Sanan Sjugirov(Russia), Parham Maghsoodloo (Iran), Adam Kozak (Hungary) and Peter Prohaszka (Hungary).
Note- The inaugural edition of V Géza Hetényi Tournament was organised by GM FT Attila Czebe in Budapest, Hungary from 11th to 18th July 2023. - Which state government has recently (in July ‘23) launched a Electric Vehicle (EV) subsidy portal to enable citizens to apply online for subsidies available on purchase of EV?
1) Gujarat
2) Maharashtra
3) Uttar Pradesh
4) Madhya Pradesh
5) OdishaAnswer-– 3) Uttar Pradesh
Explanation:
On 19th July 2023, the Government of Uttar Pradesh (UP) launched a Electric Vehicle (E-vehicle or EV) subsidy portal (https://upevsubsidy.in/) to enable citizens to apply online for subsidy available on purchase of EV in UP. As per the UP government policy, buyers can apply online for EV subsidies for vehicles bought after October 14, 2022.
i. The development and maintenance of the portal have been assigned to UPDESCO (Uttar Pradesh Development Systems Corporation Ltd)
ii. Under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy, 2022, permission has been granted for the implementation of the Purchase Subsidy Promotion Scheme with conditions. The scheme is effective from October 14, 2022 to October 13, 2023.
iii. The subsidy amount will be 50% of the total subsidy for buyers purchasing EVs without batteries.
- In July 2023, the Central Government implemented a key provision of the Competition (amendment) Act 2023 that vests power of appointment of Director General- DG (Investigation) in the Competition Commission of India (CCI) from the _____________ (Ministry).
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