Current Affairs Questions and Answers 18 August 2023

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18 August 2023 Current Affairs Questions And Answers: Here, we are providing the Current Affairs Questions and Answers for 18 August 2023. These types of topics are important for candidates who prepare for Bank Exam 2023. In this article, we are covering the following topics Headlines:

Vishwakarma Yojana
Reserve Bank of India
Asian Development Bank
Fiscal Health Report
Canara Jeevan Dhara account

18 August Current Affairs 2023 Quiz

The Current Affairs 2023 section constitutes a major part of the General Awareness section in a competitive examination and plays an instrumental role. To supplement your preparation for the General Awareness Section of the upcoming exams like IBPS PO/Clerk Mains, SBI PO Mains and SEBI Grade A Prelims, we are providing you 18th August Current Affairs 2023 Quiz covering the following topics Headlines: Vishwakarma Yojana, Reserve Bank of India, Asian Development Bank, Fiscal Health Report, Canara Jeevan Dhara account.

Q1. What is the main objective of the Vishwakarma Yojana announced by Prime Minister Narendra Modi?
(a) Promoting modern technologies in traditional crafts
(b) Empowering traditional artisans with financial support
(c) Enhancing India’s digital infrastructure
(d) Supporting urban artisans exclusively
(e) Encouraging entrepreneurship among youth

Q2. How much financial allocation has been set aside for the Vishwakarma Yojana to empower artisans?
(a) Rs 1,000 crore
(b) Rs 5,000 crore
(c) Rs 10,000 crore
(d) Rs 13,000 crore
(e) Rs 20,000 crore

Q3. What is the interest rate for loans provided to artisans under the Vishwakarma Yojana in its initial phase?
(a) 2%
(b) 3%
(c) 4%
(d) 5%
(e) 6%

Q4. What did the Reserve Bank of India (RBI) state in response to the rising inflation?
(a) It will lower interest rates immediately.
(b) It will take no action.
(c) It will raise interest rates if conditions require.
(d) It will introduce new currency notes.
(e) It will reduce the fiscal deficit.

Q5. Who among the following is NOT a member of the committee established by the DGCA?
(a) Survita Saxena
(b) R P Kashyap
(c) Pavan Malviya
(d) Kavita Singh
(e) Radha Bhatia

Q6. Which international organization’s commitment aligns with the initiative for gender equality in the aviation sector?
(a) United Nations
(b) World Health Organization
(c) International Monetary Fund
(d) International Civil Aviation Organization (ICAO)
(e) World Trade Organization

Q7. What is the purpose of the USD 40.5 million loan sanctioned by the Asian Development Bank (ADB) for Meghalaya?
(a) Infrastructure development in urban areas
(b) Promoting tourism in the region
(c) Strengthening early childhood development and maternal mental health
(d) Enhancing transportation networks within the state
(e) Supporting agricultural initiatives

Q8. Which states contribute to nearly half of all tax returns filed by FY22, as highlighted by the SBI Research study?
(a) Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana
(b) Maharashtra, Uttar Pradesh, Gujarat, Rajasthan, West Bengal
(c) Delhi, Haryana, Punjab, Uttarakhand, Himachal Pradesh
(d) Bihar, Jharkhand, Odisha, Chhattisgarh, Assam
(e) Madhya Pradesh, Rajasthan, Uttar Pradesh, Bihar, West Bengal

Q9. Which state secured the top position in the Fiscal Health Report?
(a) Punjab
(b) Maharashtra
(c) Chhattisgarh
(d) Kerala
(e) Rajasthan

Q10. What is the specialized savings account introduced by Canara Bank aimed at pensioners and those nearing retirement called?
(a) Canara Golden Age
(b) Canara Prosperity Plus
(c) Canara Retirement Flex
(d) Canara Jeevan Dhara
(e) Canara Senior Saver

Q11. What impact does the expected nominal GDP growth rate for the current year have on states’ debt/GSDP ratio?
(a) It will decrease the ratio significantly.
(b) It will have no impact on the ratio.
(c) It might lead to a lower debt/GSDP ratio.
(d) It could result in a higher debt/GSDP ratio.
(e) It will cause the ratio to fluctuate unpredictably.

Q12. What is the range of enhanced interest rates provided on savings account balances in the Canara Jeevan Dhara account?
(a) 2.50% – 3.50%
(b) 2.90% – 4.00%
(c) 3.00% – 4.25%
(d) 3.25% – 4.50%
(e) 3.50% – 4.75%

Q13. What is the primary purpose of a windfall tax in the context of the energy sector?
(a) To encourage companies to generate higher profits
(b) To prevent companies from earning any profits
(c) To regulate excessive profits during favorable market conditions
(d) To increase government revenue from all industries
(e) To incentivize companies to explore new resources

Q14. How is bubonic plague primarily transmitted?
(a) Through contaminated water
(b) Through airborne particles
(c) Through direct contact with infected individuals
(d) Through rodents
(e) Through mosquito bites

Q15. What is the main objective of the Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA) scheme introduced by the Ministry of Education?
(a) Promoting vocational education
(b) Enhancing access, equity, and excellence in higher education
(c) Providing scholarships for international students
(d) Supporting primary education in rural areas
(e) Encouraging online learning platforms

Solutions

S1. Ans.(b)
Sol. The scheme aims to provide financial assistance and other support to traditional artisans and craftspeople.

S2. Ans.(d)
Sol. Rs 13,000 crore. This amount has been earmarked to empower traditional artisans across India through the scheme.

S3. Ans.(d)
Sol. In the initial phase of the scheme, loans of up to Rs 1 lakh will be provided to artisans at an interest rate of 5%.

S4. Ans.(c)
Sol. The RBI stated that it would be ready to take action, including raising interest rates, if conditions warrant such measures in response to the rising inflation.

S5. Ans.(e)
Sol. Radha Bhatia is the Chairperson of Bird Group and leader of the non-profit organization Women in Aviation India Chapter (WAI), but she is not a member of the committee.

S6. Ans.(d)
Sol. The initiative aligns with ICAO’s commitment to promote the participation of women in the global aviation domain and achieve a gender ratio of 50-50 by 2030.

S7. Ans.(c)
Sol. The loan is intended to support the establishment and enhancement of daycare centers (Anganwadi centers) to promote early childhood development and maternal mental health.

S8. Ans.(b)
Sol. The SBI Research study identifies Maharashtra, Uttar Pradesh, Gujarat, Rajasthan, and West Bengal as the states that contribute to nearly half of all tax returns filed by FY22.

S9. Ans.(b)
Sol. The report highlights Maharashtra’s strong fiscal health, leading in terms of fiscal deficit, own tax revenue, state debt levels, and interest payment to revenue receipts as a percentage of GSDP.

S10. Ans.(d)
Sol. Canara Jeevan Dhara. This account is designed to cater to the financial needs of pensioners and individuals nearing retirement.

S11. Ans.(d)
Sol. The report indicates that despite recent double-digit nominal GDP growth, the anticipated growth for the current year might not be as high, which could impact the debt/GSDP ratio of states.

S12. Ans.(b)
Sol. 2.90% – 4.00%. The account offers an enhanced interest rate structure on savings account balances based on the account balance.

S13. Ans.(c)
Sol. A windfall tax is designed to regulate excessive profits that companies may earn during favorable market conditions. It aims to ensure a fair distribution of wealth and prevent profiteering.

S14. Ans.(d)
Sol. Bubonic plague is primarily transmitted through rodents and their fleas.

S15. Ans.(b)
Sol. The PM-USHA scheme aims to provide financial support to States for improving their higher education systems with a focus on access, equity, and excellence.