Current Affairs Questions and Answers 29 December 2023

29 December 2023 Current Affairs Questions And Answers: Here, we are providing the Current Affairs Questions and Answers for 29 December 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:

• Indian banks’ consolidated balance sheet
• Gross Non-Performing Assets (GNPA)
• Israel grant Intel $3.2 billion
• IDFC and IDFC First Bank
• Ad hoc committee for the WFI
• Forex Correspondent Scheme (FCS)

29th December 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 29th December Current Affairs 2023 Quiz covering the following topics Headlines: Indian banks’ consolidated balance sheet, Gross Non-Performing Assets (GNPA), Israel grant Intel $3.2 billion, IDFC and IDFC First Bank, Ad hoc committee for the WFI, Forex Correspondent Scheme (FCS).

Q1. What was the growth rate of Indian banks’ consolidated balance sheet in 2022-23?

(a) 8.7%

(b) 10.5%

(c) 12.2%

(d) 15.0%

(e) 18.5%

 

Q2. What is the status of Gross Non-Performing Assets (GNPA) for private banks in 2022-23?

(a) 1.5%

(b) 2.3%

(c) 3.8%

(d) 4.5%

(e) 5.2%

 

Q3. Why did Israel grant Intel $3.2 billion for its chip plant project?

(a) Intel’s plan to build a $25 billion chip plant in Israel

(b) Israel’s initiative to boost the tech industry

(c) A joint venture between Intel and the Israeli government

(d) Intel’s contribution to the Israeli military

(e) None of the above

 

Q4. How much did the trade deficit narrow in November 2023?

(a) $18.58 billion

(b) $19.58 billion

(c) $20.58 billion

(d) $21.58 billion

(e) $22.58 billion

 

Q5. What recent approval did RBI grant regarding IDFC and IDFC First Bank?

(a) Merger of IDFC with IDFC First Bank

(b) Reverse merger of IDFC Ltd with IDFC First Bank

(c) IDFC Financial Holding Company’s merger with IDFC

(d) IDFC First Bank’s acquisition of IDFC

(e) IDFC and IDFC First Bank’s collaboration for a new venture

 

Q6. Which state received the largest share in the tax devolution, accounting for Rs 13,089 crore, in recent devolution?

(a) Maharashtra

(b) Uttar Pradesh

(c) Tamil Nadu

(d) Karnataka

(e) Gujarat

 

Q7. What is the total amount of unclaimed deposits in Indian banks as of March 2023?

(a) ₹32,934 crore

(b) ₹42,270 crore

(c) ₹36,185 crore

(d) ₹6,087 crore

(e) ₹1,432.68 crore

 

Q8. Who is leading the three-member Ad hoc committee for the WFI?

(a) Sanjay Singh

(b) Brij Bhushan Singh

(c) M M Somaya

(d) Manjusha Kanwar

(e) Bhupinder Singh Bajwa

 

Q9. What characterizes the Forex Correspondent Scheme (FCS)?

(a) Stringent individual authorization requirements

(b) Limited collaboration with Authorised Dealers

(c) Perpetual authorization for FxCs

(d) Exclusively for Category-I Authorised Dealers

(e) Reduction in the reach of foreign exchange services

 

Q10. What does SEBI propose for the Indian stock market?

(a) T+1 settlement

(b) Same-day settlement for select stocks

(c) T+5 settlement

(d) Two-phase implementation of T+0 and instant settlement

(e) No changes in settlement process

 

Q11. In the context of Indian Economy, what does SEBI stand for?

(a) Securities and Exchange Board of India

(b) State Economic Bureau of Investment

(c) Systematic Economic Balance and Integration

(d) Securities Enhancement and Business Innovation

(e) State Economic Banking Institution

 

Q12. What is the primary role of Payment Aggregators (PAs) in the financial ecosystem?

(a) Issuing Credit Cards

(b) Facilitating Digital Wallet Transactions

(c) Streamlining Payment Processes for Merchants

(d) Managing Investment Portfolios

(e) Providing Mortgage Loans

 

Q13. What political party did Vijayakanth establish in 2005?

(a) AIADMK

(b) DMK

(c) DMDK

(d) MDMK

(e) PMK

 

Q14. By what year are the plans projecting the Kudankulam nuclear power plant to reach full capacity?

(a) 2023

(b) 2025

(c) 2029

(d) 2030

(e) 2027

 

Q15. Who has recently been approved as the part-time Chairman of Kotak Mahindra Bank by the Reserve Bank of India (RBI)?

(a) Prakash Apte

(b) C S Rajan

(c) Narendra Modi

(d) Raghuram Rajan

(e) Uday Kotak

 

Solutions

 

S1. Ans.(c)

Sol. The consolidated balance sheet of Indian banks experienced a notable growth of 12.2% during the fiscal year 2022-23.

S2. Ans.(b)

Sol. GNPA as a percentage of gross loans for private banks stood at 2.3% in 2022-23, indicating a significant improvement.

S3. Ans.(a)

Sol.  Israel granted the funds to support Intel’s $25 billion chip plant project.

S4. Ans.(c)

Sol. The trade deficit showed a positive trend, narrowing to $20.58 billion in November 2023.

S5. Ans.(b)

Sol. RBI approved the reverse merger of IDFC Ltd with its banking subsidiary, IDFC First Bank.

S6. Ans.(b)

Sol. Uttar Pradesh received the largest share of Rs 13,089 crore in the tax devolution.

S7. Ans.(b)

Sol. ₹42,270 crore, indicating a 28% increase from the previous year.

S8. Ans.(e)

Sol. Bhupinder Singh Bajwa, the president of the Wushu Association of India, is leading the ad hoc committee.

S9. Ans.(c)

Sol. FCS involves perpetual authorization for FxCs, eliminating the need for separate approvals.

S10. Ans.(d)

Sol. SEBI is proposing a two-phase implementation of same-day settlement (T+0) and instant settlement.

S11. Ans.(a)

Sol. Securities and Exchange Board of India. SEBI is the regulatory authority for the securities market in India.

S12. Ans.(c)

Sol. Payment Aggregators facilitate e-commerce sites and merchants in accepting various payment instruments from customers.

S13. Ans.(c)

Sol. Vijayakanth founded the Desiya Murpokku Dravida Kazhagam (DMDK) party in 2005.

S14. Ans.(e)

Sol. The plans project the Kudankulam nuclear power plant to reach full capacity by 2027.

S15. Ans.(b)

Sol. The RBI has approved the appointment of C S Rajan as the part-time Chairman of Kotak Mahindra Bank.

29th December 2023 Current Affairs Quiz: Download PDF

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