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Current Affairs Questions and Answers 17 December 2023

17 December 2023 Current Affairs Questions And Answers: Here, we are providing the Current Affairs Questions and Answers for 17 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 scheduled banks
  • India’s merchandise exports
  • Trade deficit narrow in November 2023
  • IDFC FIRST Bank, LIC Cards, and Mastercard
  • CII’s revised GDP growth forecast
  • Global grain prices for 2024

17th 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 17th December Current Affairs 2023 Quiz covering the following topics Headlines: Indian scheduled banks, India’s merchandise exports, Trade deficit narrow in November 2023, IDFC FIRST Bank, LIC Cards, and Mastercard, CII’s revised GDP growth forecast, Global grain prices for 2024.

Q1. What was the change in deposits for Indian scheduled banks by December 1, 2023?

(a) Increased by ₹2,30,727 crore

(b) Decreased by ₹60,496 crore

(c) Remained unchanged

(d) Increased by ₹1,50,000 crore

(e) Decreased by ₹2,00,000 crore

 

Q2. What was the percentage decline in India’s merchandise exports in November 2023?

(a) 1.83%

(b) 2.83%

(c) 3.83%

(d) 4.83%

(e) 5.83%

 

Q3. What is the RBI’s projected GDP growth for the fiscal year 2023-24?

(a) 6%

(b) 7%

(c) 8%

(d) 5%

(e) 9%

 

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. Who played a key role in developing the Autonomous Flying Wing Technology Demonstrator?

(a) ISRO

(b) HAL

(c) ADE under DRDO

(d) IAF

(e) NASA

 

Q6. What is the primary reason for the RBI’s decision to retain the policy stance as ‘withdrawal of accommodation’?

(a) To encourage higher borrowing

(b) Due to a decrease in inflation

(c) Concerns about potential upside risks to inflation

(d) To stimulate economic growth

(e) None of the above

 

Q7. What is the primary focus of the collaboration between IDFC FIRST Bank, LIC Cards, and Mastercard?

(a) Launching a new insurance product

(b) Introducing co-branded credit cards

(c) Expanding ATM services

(d) Implementing a digital payment platform

(e) Enhancing customer service

 

Q8. Why did State Bank of India (SBI) invest ₹49.99 crore in Canpac Trends?

(a) To support social initiatives

(b) For capital appreciation in the paper packaging sector

(c) To acquire real estate properties

(d) To fund research and development

(e) None of the above

 

Q9. What is the function of Cash Reserve Ratio (CRR) in the Indian banking system?

(a) To regulate consumer credit

(b) To determine the Bank Rate

(c) To influence overnight liquidity absorbed by RBI

(d) To set credit limits for commercial banks

(e) To control liquidity in the banking system

 

Q10. What does EODES stand for?

(a) Electronic Origin Data Exchange System

(b) India-Korea Customs Collaboration

(c) Comprehensive Economic Partnership Agreement

(d) Efficient Origin Documentation System

(e) Enhanced Customs Clearance Platform

 

Q11. Why did the Reserve Bank of India (RBI) impose a monetary penalty on Indapur Urban Co-operative Bank Ltd?

(a) Violation of customer privacy

(b) Failure to report credit information

(c) Non-compliance with prudential inter-bank gross exposure limit

(d) Delayed fund transfer to the Depositor Education and Awareness Fund

(e) Failure to conduct an annual review of inoperative/dormant accounts

 

Q12. What led to the monetary penalty on Pune Merchants Co-operative Bank Limited, Pune?

(a) Neglecting to classify certain accounts as Non-Performing Assets (NPA)

(b) Non-compliance with prudential inter-bank gross exposure limit

(c) Violation of customer privacy

(d) Failure to conduct an annual review of inoperative/dormant accounts

(e) Contravention of Banking Regulation Act, 1949, Section 26A

 

Q13. Who is the founder of Krutrim SI Designs, the new AI venture focused on the Indian ecosystem?

(a) Sundar Pichai

(b) Bhavish Aggarwal

(c) Ratan Tata

(d) Nandan Nilekani

(e) Mukesh Ambani

 

Q14. Where will the Sammakka Sarakka Central Tribal University be established following the Indian Parliament’s approval?

(a) Andhra Pradesh

(b) Odisha

(c) Karnataka

(d) Maharashtra

(e) Telangana

 

Q15. What is the name of IBM’s latest quantum processor that boasts 1,121 qubits?

(a) Quantum Leap

(b) Honeycomb

(c) Condor

(d) Qubit Milestone

(e) Superconducting Quantum

 

Solutions

 

S1. Ans.(a)

Sol. Deposits experienced an impressive growth of ₹2,30,727 crore during this period.

S2. Ans.(b)

Sol. India witnessed a 2.83% decline in merchandise exports, totaling $33.90 billion in November 2023.

S3. Ans.(b)

Sol.  The MPC projects a GDP growth of 7% for the fiscal year 2023-24.

S4. Ans.(c)

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

S5. Ans.(c)

Sol. The Aeronautical Development Establishment (ADE) under DRDO led the development of the technology demonstrator.

S6. Ans.(c)

Sol. The ‘withdrawal of accommodation’ policy stance is retained due to concerns about potential upside risks to inflation, especially in the context of rising food prices.

S7. Ans.(b)

Sol. The collaboration aims to introduce co-branded credit cards to meet the dynamic financial needs of India.

S8. Ans.(b)

Sol. SBI’s investment in Canpac Trends is driven by the objective of capital appreciation in the paper packaging industry.

 

S9. Ans.(e)

Sol. CRR mandates banks to maintain a daily balance with RBI, influencing liquidity in the banking system.

S10. Ans.(a)

Sol. EODES stands for Electronic Origin Data Exchange System, facilitating efficient data exchange between India and Korea customs for goods under the CEPA.

S11. Ans.(c)

Sol. Indapur Urban Co-operative Bank Ltd faced a penalty for non-compliance with the prudential inter-bank gross exposure limit.

S12. Ans.(d)

Sol. Pune Merchants Co-operative Bank Limited faced a penalty for failing to conduct an annual review of inoperative/dormant accounts.

S13. Ans.(b)

Sol. Bhavish Aggarwal, co-founder of Ola, founded Krutrim SI Designs.

S14. Ans.(e)

Sol. The Sammakka Sarakka Central Tribal University will be established in Telangana.

S15. Ans.(c)

Sol. IBM’s latest quantum processor with 1,121 qubits is named Condor.

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FAQs

What does EODES stand for?

EODES stands for Electronic Origin Data Exchange System, facilitating efficient data exchange between India and Korea customs for goods under the CEPA.