Important Current Affairs Quiz for Bank Mains Exams 2022- 22nd August

Q1. The Paper Import Monitoring System (PIMS) was established by the Directorate General of Foreign Trade (DGFT) by changing the import policy for major paper products from “_________” to “free subject to mandatory registration under PIMS.
(a) Particularly chargeable
(b) Free
(c) Partially banned
(d) Restricted
(e) None of the above

Q2. The Technology Information, Forecasting and Assessment Council (TIFAC) made an upbeat prediction that by FY2026-27 with which of the following one, electric two-wheelers would be completely incorporated into the Indian market?
(a) IISc Bengaluru
(b) IIT Madras
(c) NITI Aayog
(d) Road & Transport ministry
(e) None of the above

Q3. Gross GST collection in June 2022 is the second-highest collection next to the April 2022 collection GST collection. What was the collection for June 2022?
(a) Rs. 1.44 lakh crore
(b) Rs. 1.67 lakh crore
(c) Rs. 1.24 lakh crore
(d) Rs. 1.18 lakh crore
(e) None of the above

Q4. Retail inflation, based on the consumer price index (CPI), recorded at what per cent in June 2022?
(a) 7.04%
(b) 7.01%
(c) 7.54%
(d) 7.92%
(e) None of the above

Q5. The Business Reform Action Plan (BRAP)-2020 report’s analysis showed that seven states have been named as the top achievers. This report was presented by whom?
(a) Anurag Singh Thakur
(b) Nirmala Sitharaman
(c) Shaktikanta Das
(d) Mansukh Mandaviya
(e) None of the above

Q6. National Health Authority (NHA) will develop a National Health Claims Exchange as a digital platform to settle health claims with which of the following?
(a) SEBI
(b) C-DAC
(c) IRDAI
(d) NITI Aayog
(e) None of the above

Q7. The Asian Development Bank (ADB), has slashed India’s GDP growth forecast to what per cent for FY23?
(a) 8.2 per cent
(b) 7.2 per cent
(c) 6.2 per cent
(d) 9.2 per cent
(e) None of the above

Q8. American brokerage Morgan Stanley cut its FY23 real GDP expansion estimate for India by 0.40 per cent to how much per cent?
(a) 8.3%
(b) 5.7%
(c) 7.2%
(d) 6.4%
(e) None of the above

Q9. Which of the country received the highest annual foreign direct investment (FDI) inflows of almost $85 billion in FY 21-22?
(a) USA
(b) Mexico
(c) Singapore
(d) India
(e) None of the above

Q10. India’s merchandise trade deficit widened to a record from which of the following in June 2022?
(a) $46.18 billion
(b) $26.18 billion
(c) $56.18 billion
(d) $76.18 billion
(e) None of the above

Solutions

S1. Ans(b)
Sol. The Paper Import Monitoring System (PIMS) was established by the Directorate General of Foreign Trade (DGFT) by changing the import policy for major paper products from “free” to “free subject to mandatory registration under PIMS.

S2.Ans (c)
Sol. NITI Aayog and the Technology Information, Forecasting and Assessment Council (TIFAC) made an upbeat prediction that by FY2026-27, electric two-wheelers would be completely incorporated into the Indian market.

S3. Ans(a)
Sol. The total GST revenue collected in the month of June 2022 would be Rs 1,44,616 crore.

S4.Ans (b)
Sol. Retail inflation, based on the consumer price index (CPI), eased to 7.01 per cent in June this year.

S5. Ans(b)
Sol. The Business Reform Action Plan (BRAP)-2020 was presented by Finance Minister Nirmala Sitharaman in New Delhi.

S6. Ans(c)
Sol. IRDAI and National Health Authority (NHA) will develop a National Health Claims Exchange as a digital platform to settle health claims.

S7. Ans(b)
Sol. The Asian Development Bank (ADB), has slashed India’s GDP growth forecast to 7.2 per cent for FY23.

S8. Ans(c)
Sol. American brokerage Morgan Stanley cut its FY23 real GDP expansion estimate for India by 0.40 per cent to 7.2 per cent on slower global growth and GDP growth will slow down to 6.4 per cent in FY24.

S9. Ans(d)
Sol. India received the highest annual foreign direct investment (FDI) inflows of almost $85 billion in FY 21-22.

S10. Ans(b)
Sol. India’s merchandise trade deficit widened to a record $26.18 billion in June, wider than the government’s earlier estimate of $25.63 billion.