AffairsCloud brings you the complete and important daily Current Affairs Quiz 31 October 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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- Which of the following points is/are “correct” with respect to the 52nd GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, held at New Delhi, Delhi on 7th October 2023?
A) GST at 18% will be levied on 1% of the total amount guaranteed by the parent company or the actual consideration.
B) Reduction of GST on molasses from 28% to 5% to increase liquidity with mills & to reduce the cost of manufacturing cattle feed.
C) The GST on Job work services for processing of barley into malt has been reduced from 28% to 12%.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & CAnswer-2) Only A & B
Explanation:
On 26th October 2023, the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance issued a notification stating that GST (Goods and Services Tax) will be levied on guarantees provided by corporations to their subsidiaries prospectively. The corporate guarantee would be taxable from the date of the notification.
As per the notification, GST at 18% will be levied on 1% of the total amount guaranteed by the parent company or the actual consideration, whichever is higher.
This modification was recommended during the 52nd GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, held on 7th October 2023 in New Delhi, Delhi.
Reduction of GST on molasses from 28% to 5%. This will help to increase liquidity with mills. Further, It will help to reduce the cost of manufacturing cattle feed.
The GST on Job work services for processing of barley into malt has been reduced from 18% to 5%. - According to the report World Energy Outlook 2023 released by the International Energy Agency (IEA) in October 2023, India’s growing electricity demand, with annual growth of around 5%, makes India the third-largest electricity consumer globally by ____________ (year).
1) 2025
2) 2030
3) 2050
4) 2035
5) 2040Answer-3) 2050
Explanation:
The International Energy Agency (IEA) has released a report, World Energy Outlook 2023, which presents a vision of substantial changes in the global energy system by 2030. The report highlights India’s growing electricity demand, with annual growth of around 5%, making it the third-largest electricity consumer globally by 2050, after China and the United States of America(USA).
Early Peak in Fossil Fuel Use: Global use of fossil fuels is expected to peak by 2025, 2 years earlier than previously anticipated. Coal, oil, and gas are each projected to peak before 2030, driven by the rapid growth of low-carbon technologies.
Investment in Clean Energy: Global investment in clean energy is nearly double that of fossil fuels, and this trend is expected to continue, with clean energy outspending fossil fuels by 2.5 times in 2030.
Under the Stated Policies Scenario (STEPS), India’s energy supply is estimated to rise from 42 exajoules (EJ) in 2022 to 53.7 EJ in 2030 and 73 EJ in 2050.
The report emphasizes that, based on current government policies, global temperatures are still expected to rise by 2.5°C, well above the target set in the Paris Agreement of limiting global warming to 1.5°C.
The IEA’s World Energy Outlook-2023 report predicts a 30% reduction in CO2 emissions from India’s industry and a 25% reduction in CO2 emissions per kilometre driven by passenger cars by 2030. - Which bank has recently (in Oct ‘23) collaborated with the Viamericas Corporation to offer digital inward remittance services to Non Resident Indians (NRIs) in the United States of America (USA)?
1) RBL Bank
2) IndusInd Bank
3) ICICI Bank
4) HDFC Bank
5) YES BankAnswer-2) IndusInd Bank
Explanation:
IndusInd Bank Limited has announced a strategic collaboration with Viamericas Corporation to offer digital inward remittance services to Non Resident Indians (NRIs) in the United States of America (USA).
This collaboration will enable NRIs to send money to their beneficiaries in India through IndusInd Bank’s digital remittance platform Indus Fast Remit (IFR).
i. The Indus Fast Remit platform will allow NRIs to send money to India either through auto debit payment mode (Automated clearing House – ACH) and through the overseas Bank account.
ii. Through the IndusInd Bank Vostro relationship, Viamericas Corporation will credit the beneficiary’s account in India using the Reserve Bank of India (RBI)’s Rupee Drawing Arrangement (RDA) scheme.
Indus Fast Remit is a first-of-its-kind multi-partner digital platform facilitating remittances to India especially by Non Resident Indians (NRI). - Which company has recently (in Oct ‘23) won the Mahatma Awards 2023 for Corporate Social Responsibility (CSR) Excellence in Community Initiatives?
1) Innowise
2) Genpact
3) UST
4) InData Labs
5) EleviantAnswer-3) UST
Explanation:
UST, a leading digital transformation solutions company, has been recognized by the 2023 Mahatma Awards for Corporate Social Responsibility (CSR) Excellence in Community Initiatives, for sustainable and impactful contributions to CSR in areas such as education, health, livelihood, environment, and disaster relief.
i. The Mahatma Awards serve to highlight individuals and organisations addressing complex global challenges including poverty, hunger, education, climate change, and healthcare accessibility.
ii. The Mahatma Award 2023 consolidates UST’s profound commitment to community welfare and global impact.
iii. UST’s impactful CSR initiative, the Adopt-a-School program, has significantly influenced the lives of more than 32,000 students across India and Mexico. - Name the bank that has recently (in Oct ‘23) appointed Mahendra Singh Dhoni (MS Dhoni) as its official brand ambassador.
1) State Bank of India
2) Axis Bank
3) Union Bank of India
4) ICICI Bank
5) Bank of IndiaAnswer-1) State Bank of India
Explanation:
State Bank of India (SBI) has roped in former Indian Cricketer and former Captain of Indian Men’s cricket team Mahendra Singh Dhoni (MS Dhoni) as its official brand ambassador.
i. Under this partnership, Dhoni will play a major role in the marketing and promotional campaigns of SBI.
ii. This partnership of SBI aims to reiterate its commitment to serve the nation and its customers with trust, integrity and dedication.
Note: Other noted brands endorsed by Dhoni include, PepsiCo India’s Lay’s; Reliance Industries Limited(RIL)’s JioMart; Oreo, India Cements, Dream11, Garuda aerospace, TVS Motors, Reebok, etc. - Name the bank that has recently (in Oct ‘23) acquired additional shares of J.C. Flowers Asset Reconstruction Private Limited to reinstate its equity share capital proportion to 9.9%.
1) Axis Bank
2) YES Bank
3) ICICI Bank
4) IndusInd Bank
5) HDFC BankAnswer-2) YES Bank
Explanation:
YES Bank Limited had acquired additional shares of J.C. Flowers Asset Reconstruction Private Limited (“JC Flowers ARC”) to reinstate its equity share capital proportion to 9.9% in accordance with share subscription and purchase agreement.
This represents the acquisition of 24,643,558 equity shares of JC Flowers ARC at Rs 29.68 per share.
i. In September 2022, Yes Bank signed a share subscription and purchase agreement with JCF ARC LLC and JC Flowers ARC along with a shareholders agreement with CF ARC LLC, JC Flowers ARC, and Emso Asset Management. - In which city, Telefonaktiebolaget LM Ericsson has recently (in Oct ‘23) announced to set up a 6G Research and Development(R&D) centre?
1) Chennai, Tamil Nadu
2) Mumbai, Maharashtra
3) Bengaluru, Karnataka
4) Hyderabad, Telangana
5) New Delhi, DelhiAnswer- 1) Chennai, Tamil Nadu
Explanation:
Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, Swedish telecommunication company, has announced setting up a 6G Research and Development (R&D) centre in Chennai, Tamil Nadu (TN).
Ericsson is also looking to partner with premier engineering institutes in India for 6G-related research. The 6G R&D centre in India will be the 3rd such centre of Ericsson. The other 2 are in Sweden and the United States of America (USA).
At Present, Ericsson has R&D centres at Chennai, Bengaluru (Karnataka) and Gurugram(Haryana). Ericsson was started by Lars Magnus Ericsson in 1876 and it has been present in India since 1903.
Note: On 5th October 2023, Nokia established a 6G Lab at its Global R&D centre in Bengaluru. - Li Keqiang, Former Premier of _____________ (country) passed away in October 2023.
1) Vietnam
2) Thailand
3) China
4) Japan
5) South KoreaAnswer-3) China
Explanation:
Li Keqiang, a Chinese economist and politician who served as the Premier of People’s Republic of China (2013-2023), passed away at the age of 68 in Shanghai, China. He was born in July 1955 in Dingyuan County in eastern China’s Anhui province.
Li Keqiang stepped down from his post in March 2023 and was succeeded by Li Qiang, the incumbent Premier of China.
Premier is the second-highest position in China’s political system after the President.
i. He was appointed as executive vice premier of the State Council from 2008 to 2013.
ii. In 2013, he became the Premier of the State Council for the 1st term, and in 2018, he was re-elected as premier for a 2nd five-year term. - When was the World Stroke Day 2023 observed across the globe with the theme of Together we are #GreaterThan Stroke?
1) 27th October 2023
2) 29th October 2023
3) 26th October 2023
4) 28th October 2023
5) 30th October 2023Answer-2) 29th October 2023
Explanation:
World Stroke Day 2023 was observed across the globe on 29th October 2023 with theme of ‘Together we are #GreaterThan Stroke.’
The theme for World Stroke Day 2023, designated by the World Stroke Organisation (WSO).
i. The World Stroke Congress in Vancouver, Canada, in 2004 established World Stroke Day, which falls on October 29.
Dr. Vladimir Hachinski led the formation of a working group, which in October 2006 became a World Stroke Proclamation.
In 2006, WSO was formed by the merger of International Stroke Society (ISS) and the World Stroke Federation (WSF).
The first World Stroke Day was observed on 29th October 2006. - The Vigilance Awareness Week 2023 is observed across India from 30th October to 5th November 2023 with the theme of _____________.
1) Integrity – A Way of Life
2) Vigilant India, Prosperous India
3) Corruption Free India for a Developed Nation
4) Eradicate Corruption-Build a New India
5) Say no to corruption; commit to the NationAnswer-5) Say no to corruption; commit to the Nation
Explanation:
Vigilance Awareness Week is annually observed across India during the week in which the birth anniversary of Sardar Vallabhbhai Patel (31st October) falls.
The week is observed by the Central Vigilance Commission (CVC) to promote integrity, transparency, and ethical practices, emphasising the crucial role of vigilance in preventing corruption and ensuring accountability within organizations.
i. Vigilance Awareness Week 2023 is observed from 30th October to 5th November 2023 with the theme of “Say no to corruption; commit to the Nation.”
- Which of the following points is/are “correct” with respect to the 52nd GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman, held at New Delhi, Delhi on 7th October 2023?
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