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- Which of the following points are ‘Incorrect’ with respect to the RBI’s bi-monthly monetary policy of FY23 held in December 2022?
1) RBI decreased India’s real Gross Domestic Product (GDP) growth to 6.8% from 7% for FY23.
2) The MPC raised the repo rate by 35 basis points to 6.25% from 5.90%
3) The Standing Deposit Facility (SDF) Rate adjusted to 6% from 5.65% and Marginal Standing Facility (MSF) rate to 6.50% from 6.15%.
4) The Bank Rate remained unchanged at 6.15%.
5) Real GDP growth for Q1FY24 is projected at 7.1%.
Answer & Explanation
Answer-4) The Bank Rate was unchanged at 6.15%.
Explanation:
RBI Monetary Policy Committee (MPC) met on December 5-7, 2022 , and released the Monetary Policy Statement, 2022-23 Resolution of the MPC which declined India’s real GDP growth to 6.8% for FY23 from 7% (projected in September 2022) with FY23’s Q3 at 4.4%; and Q4 at 4.2%.
• The MPC raised the repo rate by 35 basis points to 6.25% from 5.90%
• Real GDP growth for Q1FY24 is projected at 7.1% and at 5.9% for Q2.Policy rates Revised Rate Previous Rate on September 2022 (4th Bi-Monthly) Repo Rate 6.25% 5.90% Reverse Repo Rate 3.35% 3.35% Marginal Standing Facility (MSF) 6.50% 6.15% Bank Rate 6.50% 6.15% Standing Deposit Facility (SDF) Rate 6% 5.65% Cash Reserve Ratio (CRR) 4.50% 4.50% Statutory Liquidity Ratio (SLR) 18.00% 18.00% - Name the bank that recently (in Dec ‘22) partnered with the National Association of Software and Service Companies (NASSCOM) Center of Excellence (CoE) to promote the startup ecosystem.
1) IDFC First Bank
2) HDFC Bank
3) ICICI Bank
4) Axis Bank
5) YES Bank
Answer & Explanation
Answer-1) IDFC First Bank
Explanation:
The IDFC First Bank and National Association of Software and Service Companies (NASSCOM) Centre of Excellence (CoE) partnered to grow the innovation ecosystem and guide startups through a range of banking solutions.
i. IDFC First Bank and NASSCOM COE signed a Memorandum of Understanding (MoU) for appointing the IDFC First bank as a preferred banking partner for startups, at an event held in Bengaluru, Karnataka. - In December 2022, Asian Development Bank (ADB) approved a loan of USD 780 million multi-tranche financing facility (MFF) to build new lines for which metro rail?
1) Bengaluru Metro
2) Chennai Metro
3) Mumbai Metro
4) Delhi Metro
5) Hyderabad Metro
Answer & Explanation
Answer-2) Chennai Metro
Explanation:
The Asian Development Bank (ADB) approved a loan of USD 780 million multi-tranche financing facility (MFF) to build new lines for Chennai metro rail and improve its network connectivity with bus and feeder services.
i. ADB will provide an additional USD 1 million technical assistance (TA) grant to help the Chennai Metro Rail with the planning and management of the metro system’s multimodal integration.
ii. The Asian Development Bank (ADB) approved a USD 300 million loan to upgrade more than 300 kilometres of state highways and major district roads in Assam, including six road sections in the state’s western, central, and southern regions. - Who has recently (in Dec ‘22) recognised as Time Magazine’s 2022 Person of the Year?
1) Rishi Sunak (Prime Minister of the United Kingdom)
2) Gregory Robinson (Former NASA administrator)
3) Volodymyr Zelensky (President of Ukraine)
4) Elon Musk (CEO of Tesla)
5) Joe Biden (President of US)
Answer & Explanation
Answer-3) Volodymyr Zelensky (President of Ukraine)
Explanation:
Time Magazine has named Ukrainian president Volodymyr Zelensky and “the spirit of Ukraine” as its 2022 Person of the Year, an award that recognises an event or person deemed as having the most influence on global events over the past 12 months.
i. Other finalists for the award included protesters in Iran, China’s leader Xi Jinping Elon Musk (winner of 2021 Person of the year) and the United States (US) Supreme Court.
Other Awardee:
• Women in Iran and Roya Piraei, whose mother was killed in protests in Iran, speaks out, were recognized as Time’s 2022 Heroes of the year and the Korean-pop(K-Pop) band Blackpink were recognised as Time’s Entertainer of the year 2022.
• Former NASA administrator Gregory Robinson and The James Webb Telescope was recognised as Innovator of the year 2022. - Which of the following points are ‘correct’ with respect to the 19th annual Forbes list of “The World’s 100 Most Powerful Women released in December 2022?
1) Ursula von der Leyen from Germany tops the list by securing rank 1 followed by Christine Lagarde from France.
2) Total of six Indians who have made the list including Union Minister of Finance Nirmala Sitaraman, who placed at 30th rank and featured on the list for the 6th time in a row.
3) Roshini Nadar Malhotra, Chairperson of HCLTech ranked at 53rd place, and Nykaa creator Falguni Nayar ranked at 89th place.
4) Both 1 & 3
5) Both 1 & 2
Answer & Explanation
Answer-4) Both 1 & 3
Explanation:
According to the 19th annual Forbes list of “The World’s 100 Most Powerful Women,” Finance Minister Nirmala Sitharaman, Biocon Executive Chairperson Kiran Mazumdar-Shaw, and Nykaa creator Falguni Nayar are among six Indians who have made the list.
• The list features 11 billionaires with a combined net worth of USD 115 billion, 10 heads of state, and 39 Chief Executive Officers (CEOs).
i. Ursula von der Leyen from Germany tops the list by securing rank 1 followed by Christine Lagarde from France (2nd Rank) and Kamala Harris from United States (3rd Rank).
ii. The 6 Indians are Union Minister Nirmala Sitaraman, Ministry of Finance, (36th Rank) for fourth time in a row, Roshini Nadar Malhotra, Chairperson of HCLTech (53rd rank), Madhabi Puri Buch, the first female Chairperson of the SEBI, (54th rank), Soma Mondal, Chairperson of the SAIL (67 rank), Kiran Mazumdar-Shaw, the Founder and Executive Chairperson of Biocon Limited and Biocon Biologics Limited (77th rank) and Falguni Sanjay Nayar, the founder and CEO of Nykaa (placed 89th). - In December 2022, Dina Ercilia Boluarte Zegarra was sworn in as the 1st Female President of which country?
1) Venezuela
2) Ecuador
3) Peru
4) Brazil
5) Chile
Answer & Explanation
Answer-3) Peru
Explanation:
Vice President of Peru, Dina Ercilia Boluarte Zegarra, was sworn in as the first Female President of Peru after Pedro Castillo, President of Peru, was ousted by Congress and arrested on a charge of rebellion.
i. Peru’s Congress removed President Pedro Castillo shortly after he attempted to dissolve the legislative body(Congress) and take unilateral control of the government, triggering a serious constitutional crisis.
ii. Dina Boluarte, a 60-year-old lawyer, is 1st Woman President in Peru’s more than 200-year history as an independent republic & she was chosen Vice President of the presidential nominee that brought Castillo to power in 2021. - In December 2022, ________ was appointed as the Chair of Business 20 (B20) India by GoI, while __________ was appointed as the B20 India Secretariat.
1) Saurabh Agrawal; Associated Chambers of Commerce and Industry of India
2) N Chandrasekaran; Confederation of Indian Industry
3) Saurabh Agrawal; National Association of Software and Service Companies
4) N Chandrasekaran; Associated Chambers of Commerce and Industry of India
5) Bhaskar Bhat; Confederation of Indian Industry
Answer & Explanation
Answer-2) N Chandrasekaran; Confederation of Indian Industry
Explanation:
The Government of India has appointed N Chandrasekaran, Chairman of Tata Sons Private Limited, as the Chair of Business 20 (B20) India to lead the business agenda during India’s G20 Presidency.
i. The Confederation of Indian Industry (CII) has been appointed as the B20 India Secretariat by the government to lead the B20 India process. CII assumed charge on 1st December 2022. - When was the 262nd Indian Army Service Corps (IASC)’s Corps Day observed across the globe?
1) 4th December 2022
2) 6th December 2022
3) 8th December 2022
4) 5th December 2022
5) 7th December 2022
Answer & Explanation
Answer-3) 8th December 2022
Explanation:
Indian Army Service Corps (IASC)’s Corps Day is annually observed on 8th December to commemorate the rich history of the IASC and to pay homage to the Soldiers and Martyrs who served the nation.
i. 8th December 2022 marks the observance of IASC’s 262nd Corps Day and 11th Reunion Day.
ii. As part of the 11th Army Service Corps Reunion Day, to commemorate the 75th year of independence, the Army Adventure Nodal Centre (Microlight) Gaya has undertaken a Microlight Flying Expedition from Gaya(Bihar) to Bengaluru(Karnataka) under the aegis of IASC and Army Adventure Wing, Integrated Headquarters of Ministry of Defence (Army).
• Tornadoes ASC Motorcycle Display team created a World Record in Bengaluru, Karnataka. With this, the 11th ASC Reunion has increased its tally of 32 world records and added 3 new world records to its list.
• Tornadoes’s Captain Abhijeet Singh Grewal created a world record for the longest continuous ride by standing on a motorcycle seat. - The _________ South Asian Association for Regional Cooperation (SAARC) Charter Day 2022 was observed on 8th December 2022.
1) 35th
2) 38th
3) 36th
4) 39th
5) 40th
Answer & Explanation
Answer-2) 38th
Explanation:
The 38th South Asian Association for Regional Cooperation (SAARC) Charter Day 2022 was observed on 8th December 2022 to mark the adoption of the SAARC Charter on 8th December 1985 in Dhaka, Bangladesh.
i. SAARC was established in 1985 and the Secretariat of the Association was set up in Kathmandu, Nepal, on 17th January 1987.
ii. The charter was signed at the First SAARC Summit by the Leaders of SAARC Countries: Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.
iii. Afghanistan was admitted as the 8th Member of the SAARC during the 14th Summit held in New Delhi, Delhi(India) on 3rd-4th April 2007. - Who has been recently (in Dec ‘22) appointed as the Acting Chief Justice of the High Court of Jammu and Kashmir (J&K) and Ladak?
1) Justice Alok Aradhe
2) Justice Tashi Rabstan
3) Justice K. Murali Shankar
4) Justice R.N. Manjula
5) Justice Sanjay Kishan Kaul
Answer & Explanation
Answer-2) Justice Tashi Rabstan
Explanation:
Justice Tashi Rabstan, the senior-most judge, has been appointed Acting Chief Justice of the High Court of Jammu and Kashmir (J&K) and Ladakh by the President of India, Droupadi Murmu, with effect from 8th December 2022, following the retirement of Justice Ali Mohammad Magreyon 7th December 2022.
i. Justice Tashi Rabstan is from Skurbuchan village, Ladakh (or Leh), and became the 1st judge from Ladakh.
- Which of the following points are ‘Incorrect’ with respect to the RBI’s bi-monthly monetary policy of FY23 held in December 2022?
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