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Current Affairs Quiz 31st December 2023

Directions for the quiz:

1. This quiz, that is the Current Affairs Quiz 31st December2023, is meant to be a check for your learning and is meant to serve as a tool for assessment.

2. Current Affairs Quiz 31st December2023 is designed to check your Current Affairs General Knowledge and provide you with an assessment of the same.

3. Each question in Current Affairs Quiz 31st December2023 followed by 4 options. Select the most appropriate option for the question.

4. Before you take this quiz, we would recommend to you to go through the article,Daily Current Affairs Today 31st December2023

 

 

Question 1:
What is the purpose of the Unified Payments Interface (UPI) introduced by NPCI for the secondary market?

A) To facilitate international transactions
B) To streamline primary market investments
C) To enable blocking of funds for secondary market trading
D) To provide digital wallet services

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. The UPI for the secondary market introduced by NPCI allows investors to block funds in their bank accounts specifically for secondary market trading without transferring the funds upfront.

 

 

Question 2:
What is the redemption price set by the RBI for Sovereign Gold Bonds issued in January 2018 and January 2019?

A) ₹5,500 per unit
B) ₹6,331 per unit
C) ₹7,200 per unit
D) ₹6,000 per unit

Answer and Explanation

Answer: B

  • Explanation: The correct answer is B. RBI fixed the redemption price for these SGBs at ₹6,331 per unit.

 

 

Question 3:
The Central Bank of India’s colending partnership with Kisetsu Saison Finance primarily targets which sector?

A) Real Estate
B) Education
C) MSME
D) Healthcare

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. The colending partnership focuses on providing loans to the Micro, Small, and Medium Enterprises (MSME) sector.

 

 

Question 4:
Under the revised reporting norms for LRS, where will AD Category-I banks now upload their monthly and daily returns?

A) XBRL site
B) CIMS portal
C) RBI’s official website
D) Government eMarketplace

Answer and Explanation

Answer: B

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  • Explanation: The correct answer is B. The returns will now be uploaded on the Centralised Information Management System (CIMS) portal.

 

 

Question 5:
As of September 2023, what was the status of the top 100 borrower accounts in scheduled commercial banks according to RBI’s Financial Stability Report?

A) All were classified as NPAs
B) About half were classified as NPAs
C) None were classified as NPAs
D) Most were under stress but not NPAs

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. None of the top 100 borrower accounts were classified as Non-Performing Assets (NPAs).

 

 

Question 6:
What percentage of life insurance policies were held by women in the fiscal year 2022-23, according to IRDAI?

A) 28.5%
B) 34.2%
C) 40.3%
D) 22.7%

Answer and Explanation

Answer: B

  • Explanation: The correct answer is B. Women secured a 34.2% share of life insurance policies in fiscal year 2022-23.

 

 

Question 7:
What is the maximum duration given by RBI for resolving customer complaints by banks, NBFCs, and other regulated entities?

A) 60 days
B) 15 days
C) 30 days
D) 45 days

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. The RBI has instructed these entities to conclude the resolution of customer complaints within 30 days.

 

 

Question 8:
The Indian government declared Tehreeke-Hurriyat, J&K as an ‘Unlawful Association’ under which act?

A) Indian Penal Code
B) National Security Act
C) Unlawful Activities (Prevention) Act
D) Prevention of Terrorism Act

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. Tehreeke-Hurriyat, J&K was declared an ‘Unlawful Association’ under the Unlawful Activities (Prevention) Act (UAPA).

 

 

Question 9:
What was the focus of the National Conference of Chief Secretaries chaired by Prime Minister Narendra Modi?

A) National Security
B) Economic Reforms
C) Ease of Living
D) Environmental Policies

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. The conference focused on ‘Ease of Living’ and encouraging participative governance.

 

 

Question 10:
The National Dairy Development Board (NDDB) plans to extend the Amul model of milk cooperatives to which country?

A) Sri Lanka
B) Bangladesh
C) Kenya
D) Nepal

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. NDDB plans to extend the Amul model to Kenya.

 

 

Question 11:
Which company reached unicorn status after raising funds in its Series D round as per the passage?

A) Paytm
B) Flipkart
C) InCred Financial Services Ltd
D) Ola

Answer and Explanation

Answer: C

  • Explanation: The correct answer is C. InCred Financial Services Ltd became a unicorn following its Series D funding round.

 

 

Question 12:
Who is the author of the book ‘Breaking the Mould: Reimagining India’s Economic Future’?

A) Amartya Sen
B) Raghuram Rajan
C) Arundhati Bhattacharya
D) Urjit Patel

Answer and Explanation

Answer: B

  • Explanation: The correct answer is B. The book is authored by Raghuram Rajan and Rohit Lamba.
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