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- In March 2023, the Department of Consumer Affairs (DoCA), Ministry of Consumer Affairs, Food & Public Distribution (MoCAF&PD) constituted a committee to monitor the stock of Tur (Arhar).
Who will chair the committee?
1) Sanjay Kaushik
2) Nidhi Khare
3) Kavita Agnihotri
4) Manoj Shinde
5) Vineet MathurAnswer-2) Nidhi Khare
Explanation:
The Department of Consumer Affairs (DoCA), Ministry of Consumer Affairs, Food & Public Distribution (MoCAF&PD) has constituted a committee to monitor the stock of Tur (Arhar) held by importers, millers, traders, and other such entities. It will be chaired by Nidhi Khare, Additional Secretary, DoCA.
• This monitoring will be carried out in collaboration with state governments.
i. This decision has been made in response to reports indicating that market players have been holding onto stocks despite consistent arrivals of imports in substantial quantities. This led to a spike in the prices of Tur.
• This committee highlights the government’s efforts to tackle hoarding and unscrupulous speculation in the market, and to maintain control over the prices of Tur in the coming months.
• It should be noted that the government had issued an advisory to the States/Union Territories (UTs) on August 12, 2022, to enforce stock disclosure in respect of Tur under the Essential Commodities Act, 1955. - The Ministry of Electronics and Information Technology (MeitY) has recently (in March ‘23) constituted a _________ member task force chaired by _________, to make India a ‘product developer and manufacturing nation’.
1) 6; Bhuvnesh Kumar
2) 9; Rajendra Kumar
3) 6; Manoj Kumar
4) 9; Bhuvnesh Kumar
5) 12; Rajendra KumarAnswer-4) 9; Bhuvnesh Kumar
Explanation:
The Ministry of Electronics and Information Technology (MeitY) has constituted a 9-member task force chaired by Bhuvnesh Kumar, Additional Secretary (MeitY), to make India a ‘product developer and manufacturing nation’.
About the Task force:
i. The task force explores ways to deepen the domestic value addition in electronics manufacturing and chart the local production story beyond the ambitious Production-Linked Incentive(PLI) scheme.
ii. The task force will submit their recommendations in 2 months.
Members of the task force:
• Chairperson: Bhuvnesh Kumar, Additional Secretary (MeitY),
• Member convenor: Amitesh Kumar Sinha, joint Secretary (Electronics) - According to the Gujarat Authority for Advance Rulings, what percentage of the goods and services tax (GST) is quoted (as of March ‘23) for the tobacco coated with natural edible gum and sold in personalised gunny bags?
1) 28%
2) 5%
3) 12%
4) 18%
5) 21%Answer-1) 28%
Explanation:
Gujarat Authority for Advance Rulings (AAR) ruled that Tobacco coated with natural edible gum and sold in personalised gunny bags would attract 28% Goods and Services Tax (GST) and 71% compensation cess.
i. The ruling was given in an application by JCP Agro Process (Private) Ltd which supplies un-manufactured tobacco procured from farmers.
ii. AAR has also stated that 5% GST on the Reverse Charge Mechanism (RCM) would be applicable on the purchase of tobacco leaves from farmers by companies. - Which of the following points is/are “correct” with respect to the 10th edition of the Global Terrorism Index (GTI) released by the Institute for Economics & Peace (IEP) in March 2023?
A) Afghanistan remained the nation most affected by terrorism for the 3rd consecutive year, despite assaults and fatalities declining by 85% and 48%, respectively.
B) India was ranked 13th and was listed among nations with a “high” impact of terrorism.
C) Islamic State (IS) and its affiliates ranked 1st in the deadliest terrorist groups in the world in 2022.
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:
According to the Global Terrorism Index 2023, the 10th edition of the Global Terrorism Index (GTI) by the Institute for Economics & Peace (IEP), Afghanistan remained the nation, most affected by terrorism for the fourth consecutive year, despite assaults and fatalities declining by 75% and 58%, respectively.
i. India was ranked 13th and was listed among nations with a “high” impact of terrorism.
ii. According to the report, the Communist Party of India (Maoist) [CPI-M] is ranked as the 12th deadliest terrorist organisation in 2022.
iii. The deadliest terrorist groups in the world in 2022 were Islamic State (IS) and its affiliates, followed by al-Shabaab, Balochistan Liberation Army (BLA) and Jamaat Nusrat Al-Islam wal Muslimeen (JNIM).
Note – The GTI 2023 is based on data from Dragonfly’s TerrorismTracker database and uses 31 December, 2022 as the cut-off date. - Name the bank that has recently (in March ‘23) partnered with Crunchfish to demonstrate offline retail payments.
1) ICICI Bank
2) IDFC First Bank
3) HDFC Bank
4) YES Bank
5) Axis BankAnswer-2) IDFC First Bank
Explanation:
IDFC First Bank partnered with Crunchfish, a Swedish company, to pilot a project to demonstrate offline retail payments. IDFC First Bank is set to be a part of the Reserve Bank of India (RBI) pilot project to enable offline payments.
i. This pilot project will demonstrate offline retail payments based on a Digital Cash platform to give access to digital payments even when there is no network.
ii. This innovation will accelerate financial inclusion in remote areas by enabling adoption of digital payments without any network. - Which bank has recently (in March ‘23) joined with the Central Board of Direct Taxes (CBDT) for direct tax collections from retail and corporate taxpayers?
1) IDFC First Bank
2) Axis Bank
3) Karnataka Bank
4) South Indian Bank
5) ICICI BankAnswer-4) South Indian Bank
Explanation:
The South Indian Bank (SIB) has joined hands with the Central Board of Direct Taxes (CBDT) for direct tax collections from retail and corporate taxpayers.
• This pact will allow taxpayers to remit Direct Taxes under ‘Over the Counter Mode’, and allow bank’s customers to make payments via ‘Over the Counter’ and ‘Internet Banking’ modes.
i. By carrying out Direct Tax collections on behalf of CBDT under the new TIN 2.0 regime, this facility will serve as a reliable partner to the Central Government and enhance the bank’s connections with them. - Which company has recently (in March ‘23) received the Reserve Bank of India’s (RBI) approval to operate as a Non-Banking Financial Company (NBFC) Account Aggregator (AA)?
1) PhonePe Technology Services Private Limited
2) CRIF Connect Private Limited
3) Yodlee Finsoft Private Limited
4) NESL Asset Data Limited
5) Cookiejar Technologies Private LimitedAnswer-2) CRIF Connect Private Limited
Explanation:
The CRIF Connect Private Limited, a subsidiary of Bologna(Italy)-based CRIF S.P.A, has received the Reserve Bank of India’s (RBI) approval to commence operations as a Non-Banking Financial Company (NBFC) Account Aggregator (AA).
• According to RBI-approved guidelines, it is an end-to-end encrypted platform that securely collects and transfers a consumer’s financial data across financial institutions based on their explicit consent, making data sharing exceedingly safe.
i. The CRIF Connect application will be available on the web and on mobile devices.
ii. Through the CRIF Connect App, users can view all their financial information in one place and to customise the information they want to share with the financial institution in real time. - Name the bank that has recently (in March ‘23) signed a corporate agency agreement with Bajaj Allianz Life Insurance Company to sell the life insurance products of Bajaj Allianz from 1st April, 2023.
1) Jammu & Kashmir Bank
2) Induslnd Bank
3) HDFC Bank
4) Axis Bank
5) Karnataka BankAnswer-1) Jammu & Kashmir Bank
Explanation:
Jammu and Kashmir (J&K) Bank has signed a corporate agency agreement with Bajaj Allianz Life Insurance Company, one of the leading insurance providers in India. The agreement will allow the bank to sell Bajaj Allianz’s life insurance products starting from April 1, 2023.
• The Corporate agency agreement was signed by Narjay Gupta, General Manager and Vertical Head (Cross Selling), representing J&K Bank, and Dheeraj Sehgal, Chief Distribution Officer (Institutional Business), representing Bajaj Allianz Life Insurance Company in Pune, Maharashtra. - Which ministry has recently (in March ‘23) signed an MoU with 19 captive employers to train and provide jobs under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)?
1) Ministry of Social Justice and Empowerment
2) Ministry of Skill Development and Entrepreneurship
3) Ministry of Rural Development
4) Ministry of Labour and Employment
5) Ministry of Home AffairsAnswer-3) Ministry of Rural Development
Explanation:
On 28th March 2023, the Ministry of Rural Development (MoRD) signed a Memorandum of Understanding (MoU) with 19 captive employers to train and provide jobs for rural youth under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY).
• The MoU aims to provide employment to 31,067 rural poor youths for a minimum period of 6 months, with a minimum salary of Rs 10,000 per month. - In March 2023, Neiphiu Rio, Chief Minister (CM) of Nagaland, presented a tax free deficit budget of Rs. __________ for the fiscal year 2023-24 (FY24).
1) 2,876.12 crore
2) 1,056.23 crore
3) 1,374.17 crore
4) 3,345.10 crore
5) 4,876.10 croreAnswer-3) 1,374.17 crore
Explanation:
The Nagaland Chief Minister (CM) Neiphiu Rio who also holds the finance portfolio of Nagaland, presented tax free deficit budget of Rs 1,374.17 crore for the financial year 2023-2024 (FY24) at the ongoing first session of the 14th Nagaland Legislative Assembly with more emphasis on agriculture and allied sectors.
i. Based on the budget proposals of FY24, the Gross revenue receipts was expected at Rs 23,145.66 crore
ii. An allocation of Rs 82,000 lakh was made for the annual development outlay, which is an increase of Rs 4,500 lakh or 5.49% over FY23.
iii. The State’s own revenue collection accounted for only 12.36% of total revenue receipts.
- In March 2023, the Department of Consumer Affairs (DoCA), Ministry of Consumer Affairs, Food & Public Distribution (MoCAF&PD) constituted a committee to monitor the stock of Tur (Arhar).
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